Bearings Ltd Case Study – Cost Appraisal Methods – Management Assignment Help

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Assignment Task :
Background: The assignment is intended to bring out the benefits and limitations of the four stages of Project life cycle with different approaches to project planning and control by relating these to the circumstances in the cases outlined. It is also intended to allow students to demonstrate their learning and competence in respect of the management of resources generally but in particular elements of scope, schedule, quality, and cost.   
Task 1   each short answer question requires a response in a few sentences (paragraph) for the questions awarded 6 marks and two –three paragraphs for questions awarded up to 8-10marks. 

List and explain the Four stages of Project Life Cycle, and discuss the importance of the final stage.  

What is ‘Scope Management’ what would you include in your managing scope statement for the case study in Task2. What tool could you use to show the sub-division of the scope of work?    

Discuss the purpose of risk management in the context of project management.   

Define one of the following cost appraisal methods; NPV, Payback or IRR. What are the benefits of your chosen method?

 
Task 2: (60%marks) Case Study: 
Bearings Ltd is a company specialising in the design and manufacture of industrial bearings for the automotive industry. The organisations they supply are major suppliers into various global car manufacturing plants. The company has been particularly successful since it started trading in the UK in 1980.Now,because of global competition, “TSK Bearings Limited” are look in to increase their competitiveness since the automotive industry market and as part of a strategy of expansion, introduce new technology and machinery into a new manufacturing site with in the UK. “TSK Bearings Limited” has employed you as Project Manager to manage this one-off special project. The Project budget is £12 million pounds which includes the purchase and building of a manufacturing site, (machinery 7.5 million, manufacturing building site 2.5 million) located directly off the North- East coast of England and open to all weather conditions. The new technology and machinery have to be transferred from Asia which will require training of staff and purchase of machines in Asia. 
The Project team should be consist with 12 members which 8 team members are to be recruited from existing TSK Bearings Ltd staff with the rest team members recruited externally. These members are required to train in Asia for potentially 8 months to gain knowledge and experience then for 4 months to assist with the transportation and installation of the new technology. This new technology project must be completed by the end of March 2022 with production supplying new customer orders at this point in time. 
From a project management perspective outlines and explains the activities required to successfully manage this new initiative, e.g. Project Scope Statement, Project Priorities (with a balanced trade-off and justification), Work Breakdown Structure (with brief details of work packages) and Cost Estimation (with time-phased budget) ensuring that it can operate on-time, and within budget.  
Your report should be based on the four stages of Project life cycle and include examples of the concerns, Project Life cycle  stages, associated with managing the lifecycle of this major project. 
Don’t forget to provide Network diagram, Gantt chart, cost appraisal methods and any other relevant table or information as an Appendix; also, any practical examples in relation to relevant theories in Task 2 should be derived from the case study. 
The answers to both tasks are independent and should be addressed separately. 
Task1answerstosix questions of (700words) are to be completed as an individual task. 
Task 2 a report that is produced for task two of (2300) is also to be completed as an individual task. 
The total report should not be more than 3000 words (+/- 10%) 
For your convenience, both tasks should be submitted as one document, which clearly states and contains both individual tasks. 
 
 
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