Project Management Process- Initiation

Project Management Process- Initiation

PROJECT MANAGEMENT PROCESS –INITIATION 5

Project Management Process- Initiation

Mary Krenisky

Joe Scott

BUS 419

July 23, 2018

Project Management Process- Initiation

This project is about the fiscal budget of the U. S. military spending budget. The project covers an extensive range of areas which are significant to be addressed while developing/proposing the budget for the New Year, i.e., 2019. The most proportion of the funds is spent by the department of defense of the United States/. The anticipated expenditures by the department of defense are $597. 1 billion for 2019 (Amadeo, 2018). The principle objectives of the project include breaking down the budget into several subsections so that adequate resources can be allocated to each task. A work breakdown structure has been developed for the budget of the coming year.

The WBS is developed as a result of evaluation that is done at the start of a year or the project. Project deliverables include twenty-five significant undertakings that will be achieved according to the set deadlines. Each task is further divided into subtasks that will be accomplished to obtain key milestones. The tasks which are incorporated in the work breakdown structure of the military budget focus on both the battle preparedness and training of the crew. Military personnel are not only trained for working in the fields and in air but also for the necessary official duties.

The project’s goals emphasize on allocation of resources and a timeline for each task so that required budget can effectively meet the needs of the military ventures. The work breakdown structure gives an overview about the budget that will be needed for staffing and non-staffing resources to attain and achieve task successfully. Particular staffing and non-staffing resources are significant for the attainment of the tasks in a smooth way without any disruptions. Specific amounts of resources are linked with staffing and non-staffing activities that are given in the work break down structure of the financial budget.

The immense issue which I have confronted is the allotment of resources to each task. In addition, breaking up of tasks was an arduous step as I had to divide each milestone in particular activities. The linking up of the activities with respect to their appropriateness to each milestone proved to be difficult. As the budget is all about military, so there is a need for a special care while developing budget for military activities. Here, it is significant to note that the project also includes the resources that can be used in the future in case of any uncertainties (Ezzo, 2018).

It is an important step of the project and challenging too at the same time. Because, there may arise a need for more staffing or non-staffing resources that will definitely need the funds. Therefore, it is mandatory for a project manager to be prepared for the contingencies in advance. As it is already mentioned that one of the greatest issue was the assignment of the resources. Because there are certain activities that cannot be measured or anticipated in a definite way. A customary method of developing a budget was utilized in the work breakdown structure. Most of the cost estimates have been made on the basis of assumptions. It was challenging to keep these assumptions accurate and close to reality.

To address these issues, different strategies can be implemented. For example, the set tasks are the main indicators of the success of the budget and the manner by which the succeeding tasks should be managed (Ezzo, 2018). The issue of allotment of resources can be managed by investigating the costs of different staffing and non-staffing resources. If n activity requires more of the staffing and non-staffing resources, definitely greater portion of funds will be allocated to it. It will not only assist in managing the process flow of the budget but also in bringing coherency and precision in the work break down structure. Moreover, budgeting cooperation should be enhanced between the management and the project manager to generate a fruitful and applicable budget for the department (Ezzo, 2018).

REFERENCES

Amadeo, K. (2018). U.S. military budget: Components, challenges, growth. Retrieved July 16, 2018 from: https://www.thebalance.com/u-s-military-budget-components-challenges-growth-3306320

Ezzo, N. (2018). “Strategies for making budgeting and planning more effective”. Retrieved July 15, 2018 from https://hostanalytics.com/blog/strategies-for-making-budget-planning-more-effective/


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