Control and Project Planning System of Heublein

Project Planning and Control System of Heublein
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Project Planning and Control System of Heublein
Level of Risk-Taking and Efforts to Mitigate the Risk
According to Serrano and Avilés (2018), risk management in any project indicates the probability of uncertainty in it. Subsequently, all the project managers employ different strategies to track and mitigate the risk associated with any project. Correspondingly, Heublein’s PM&C has set different levels of risk. At first, the company considers that present projects are vulnerable to faulty planning (Meredith & Mantel, 2011). For this, the company will use a prevention strategy to mitigate the planning risk. Second, Heublein may experience risk in managerial aspects. For instance, the management is free to accept or deny any of the suggestions. Hence, Heublein's new project management objectives can only be in effect once the management approves them. To mitigate this issue, the company used an acceptance strategy. Third, the organization is prone to financial shortage as another critical risk. In response, the project managers used a prevention strategy by budgeting and controlling every aspect of the project. Consequently, Heublein understands the significance of risk and makes intensive efforts to mitigate it.
Project Planning and Scheduling Techniques
According to Kehinde, Afolabi, and Omogbolahan (2017), project planning and scheduling is the process of listing different phases of a project. Subsequently, Heublein used Work Breakdown Structure (WBS) as the core planning technique (Meredith & Mantel., 2011). Besides, the company also implied Hierarchical Numbering System to schedule each work. Most importantly, Heublein practiced project planning from the organizational perspective. Heublein did not imply a project charter perspective, as some of the strategies are different and insufficient for the company. For instance, table 1 illustrates the difference between Heublein’s plan and Project Charter’s plan.
Table 1
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Theoretical Aspects of Budgeting
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