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Project Status Report II Assignment Sample

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Introduction: Project Status Report II

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This is a progress report 2. This report will cover the overall status, project status, key ammeters, and Status and schedule for key milestones will be covered. This report also helps to evaluate the previous progress report and the progress of this project can be tracked.

Discussion

Overall Status

The overall status of this project is that the status of the schedule, budget, risk, benefits, and quality of the project have been identified. This progress report will cover the current progress of the project and information regarding the key activities planned and completed will be provided.

Project Status

There are time frames, budgets, risks, and benefits for handling the problems relating to the manager's surpassing tolerance regulations, the supervisor's essential risk management, and the supervisor's major worries concerning the delivery and achievement of the benefits (Rush, & Connolly, 2020). The project manager must deal with delays in the project tolerance due to under- or overspending while the manager is managing the process. The management must take care of various risk issues and threats to benefits that have been evaluated.

Key matters

By establishing a procedure for examining and consenting to changes to the project's scope, scope creep has been handled. By following this process, it is certain that management will evaluate any changes and will keep every stakeholder updated. To make sure that objectives are readily apparent, the team additionally put an action plan in action (Reha, & Fai, 2021). This schedule assists employees in staying on schedule by detailing the team's daily and weekly duties. Communication is being enhanced to deal with team member unavailability. Weekly team meetings were established to go through performance and any possible issues. To ensure that every employee is on the same page, we additionally put a procedure for regular periodic updates in place.

Status and schedule for key milestones

For the first milestone: “Project kickoff” baseline start: 20th February, baseline finish:28th February 2023, Forecast Finish: 1st March 2023, % Complete: 100%, Status: Completed, Comments: All stakeholders were present and in agreement on the project's timeframe and deliverables at the project kickoff, which was successful. For the second milestone: “Sprint Reviews”: Baseline Start: 5th March, Baseline Finish: 15th March, Forecast Finish: 20th March, % Complete: 40%, Status: On Track, Comments: The team is making good progress on the sprint reviews and is on track for finishing the project by the projected deadline. For the third milestone: “Project Closure”: Baseline Start: 28th March, Baseline Finish: 30th March, Forecast Finish: 1st April, % Complete: 0%, Status: Not Started, Comments: The project closure phase will commence on the initial start date and has not yet begun.

The status of the schedule

Compared to the initial schedule, the project continues according to plan. Each task was finished on time and within the spending limit that was provided. To guarantee the project's effective conclusion, the project team has put up a lot of work. In general, the project is moving together effectively and meeting its stakeholders' expectations. To effectively detect and carry out solutions to any obstacles that may develop, the project team has been working collaboratively.

Completed key activities

By evaluating the project status of Capstone, it has been found that successfully finished significant assignments over the past month, including giving team member's ongoing guidance and support and holding common review meetings. The activities have given deeper awareness of team dynamics, strengths, and areas for growth (Paul, & Behjat, 2019). Furthermore, in order to promote the effective and efficient functioning of the team, this project created a governance structure. Through the analysis of the project report, it has been found that key activities have enhanced processes and efficiency as a result of increased interaction and cooperation. Overall, these key activities help this project to complete successfully.

Planned key activities

The project team will continue to put its attention on establishing and carrying out the project management Capstone for the next reporting period. Especially, the team will examine present-day project strategies and paperwork for their accuracy and comprehensiveness while deciding if any updates or modifications are needed. The team will additionally collaborate with stakeholders to ensure that the project's goals are achieved and that every piece of information required is collected. The team will also train and counsel other stakeholders and members of the project team.

Risks

Through the progress report regarding the risks of the project, it has been found all the identified risks have been mitigated through the response strategy. All the risks are taken as prior and the response strategy against the risks is medium to high. Risk regarding failure to give feedback given response strategy is medium. Based on the priority of the risk, strategies have been taken. Through this report, it has been found that current feedback has been assured so that further risk will not occur regarding this project (Mili?evi?, et al. 2019). Through the progress report, it has been assured that all the feedback should be timely and accurate. This progress report also assures minimizing the risk of misunderstanding regarding the progress of the project.

Issues

Through this progress report, the issues of the project have been evaluated, and also considered action taken for mitigating the issues. Based on the priority of the risk, all the necessary actions have been taken. It has been found that all the taken action works properly and these actions are appropriate for the mitigation of the issues effectively. Through this report, it has been assured that all the actions are performed in a clear manner and timely. These actions are beneficial for motivating the employees and ideal for the progress of the project.

Dependencies

This project is progressing well. Through this progress report, dependencies for the project have been recognized which helps mitigate the risk and issues of this project (Cruz, & Alves, 2020). Overall this project is on track and all kinds of issues and risks have been sorted through the necessary actions.

Financial status

For designing the project, the top approach has been applied. Through the progress report, it has been found that all the activities have been done by considering the approved budget for this project. It has been considered that the budget of the project does not cross the limit of the final budget which has been approved through the process of change control. This is an employ-based project and it has been considered that sufficient budget has been allocated for every task for this project.

Conclusion

This project report will help to evaluate the requirement for further progress of the project. This report will provide valuable information regarding the current state of the project. This progress report will help to perform another project similar to this project.

References

Journals

  • Cruz, A., & Alves, A. C. (2020). Traditional, agile and lean project management-A systematic literature review.The Journal of Modern Project Management,8(2). Retrieved From, https://journalmodernpm.com/manuscript/index.php/jmpm/article/download/JMPM02407/397 [Retrieved On: 15.04.2023]
  • Mili?evi?, J. M., Filipovi?, F., Jezdovi?, I., Naumovi?, T., & Radenkovi?, M. (2019). Scrum agile framework in e-business project management: an approach to teaching scrum.European Project Management Journal,9(1), 52-60. Retrieved From, https://www.researchgate.net/profile/Jelena-Mihajlovic-Milicevic/publication/336224553_Scrum_Agile_Framework_in_E-business_Project_Management_An_Approach_to_Teaching_Scrum/links/5ed6440d299bf1c67d32a2e4/Scrum-Agile-Framework-in-E-business-Project-Management-An-Approach-to-Teaching-Scrum.pdf?_sg%5B0%5D=started_experiment_milestone&origin=journalDetail [Retrieved On: 15.04.2023]
  • Paul, R., & Behjat, L. (2019, June). Using principles of SCRUM project management in an integrated design project. InThe 15th International CDIO Conference. Retrieved From, http://mail.cdio.org/files/document/file/206.pdf [Retrieved On: 15.04.2023]
  • Reha, M., & Fai, V. (2021). Project Management Tools in the Classroom: Using the Atlassian Tool Suite in the Classroom.Journal of Instructional Research,10, 85-92. Retrieved From, https://files.eric.ed.gov/fulltext/EJ1314155.pdf [Retrieved On: 15.04.2023]
  • Rush, D. E., & Connolly, A. J. (2020). An agile framework for teaching with scrum in the IT project management classroom.Journal of Information Systems Education,31(3), 196-207. Retrieved From, http://jise.org/Volume31/n3/JISEv31n3p196.pdf [Retrieved On: 15.04.2023]
  • Sharp, J. H., Mitchell, A., & Lang, G. (2020). Agile Teaching and learning in information systems education: an analysis and categorization of literature.Journal of Information Systems Education,31(4), 269-281. Retrieved From, https://journalmodernpm.com/manuscript/index.php/jmpm/article/download/JMPM02407/397 [Retrieved On: 15.04.2023]
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