Project Management Data Acquisition System

Question: Discuss about theProject Managementfor Data Acquisition System. Answer: Risk Assessment of this Project The major objective of this project is to resolve the consequences associated with the operation of the existing Data Acquisition System in the test lab of the company. On the other hand, the major issue is the old connectivity layout aligned with the conventional technology (Burke 2013). Therefore a wireless system has been decided to be implemented in terms of solving the problem, which would remove the utilization of the connections as well as circuits. Thus, the operators can utilize easily the wireless connection. This innovative system would be able to attract customers who visit to the test labs and at the same time it would reduce the overall operational cost (Joslin and Mller 2015). However, this system has few risks along with its several capabilities. One of the most crucial risks associated with this system is that the Gauges break down is harder often for the operator for using and it also slows down the work process of this system (Heagney 2016). On the other side, it c an also be seen that the current devices are limited in number with the ranges of temperature. Apart from that, this wireless system can also have few other risks, which can prevent this device to work properly (Mir and Pinnington 2014). However, the most important fact is that all the identified risks associated the system can be resolved with the help of applying and adopting the recommending strategies. Therefore, in this regard, it must be stated that this project has less risks as all the risks can be resolved very easily by following the recommendation techniques in a proper manner. Cost Benefit Analysis Cost Benefit analysis in a project is referred to a systematic approach in order to estimate the weaknesses as well as the strengths of alternatives (Hwang and Ng 2013). Moreover, it is also utilized for determining the options that give the best approach for achieving the advantages during preserving savings. Therefore, according to the cost benefit analysis of this particular, it can be stated that the cost factors associated with this project is affordable. This is simply because of the fact that while a project is comprised of several risks which are very difficult to resolve, then the cost along with that project automatically increases (Pemsel and Wiewiora 2013). Thus, the project requires several investments in terms of technologies which can be costly, which would ultimately lead to rise in its prices. However, in case of this particular project, all the risks or the barriers associated with the wireless system can be resolved by applying several technologies (Marcelino-Sdaba et al. 2014). Most importantly, all the technologies are affordable so that the incorporation of the technologies for resolving the risks would come within the budget kept for the project. This particular innovation project is cost effective, and a single unit is needed to be built and tested in this year in terms of validating this project effectiveness (Dez Rodrguez et al. 2014). Therefore, from this discussion, it can be said that this project is cost effective and is doable or executable. Project Budget Budget for the Project "Wireless Communication to the Gauges" Project Resources Budget Actual $ Difference % Difference Wireless Transmitter $ 150.00 $ 175 ($ 25) -16.67 % Required rechargeable battery $ 30.00 $ 25 $ 5 16.67 % Signal Conditioners $ 75.00 $ 80 ($ 5) -6.67 % Gauges $ 80 $75 $ 5 6.25 % Labor $ 9,000.00 $ 9,750 ($ 750) -8.33 % Delivery Costs $ 600.00 $ 582 $ 18 3.00 % Telephone $ 450.00 $ 496 ($ 46) -10.22 % Advertising $ 700.00 $ 894 ($ 194) -27.71 % Postage $ 100.00 $ 85 $ 15 15.00 % TOTAL EXPENSES $ 11,185 $ 12,162 -$ 977 -8.73 % Table 1: Budget for the Project "Wireless Communication to the Gauges" (Source: Created by Author) Critical Project Barriers While conducting a project, there can be few significant risks those are faced by the project management team who has the responsibility of executing that particular project. Hence in case of this project, the wireless system can face several critical barriers (Joslin and Mller 2015). These are as follows: The Gauges break down occurred within the wireless system is harder often for the operator for using and it also slows down the work process of this system (Mir and Pinnington 2014). On the other hand, the current wireless devices have the limitation with the ranges of temperature (Hwang and Ng 2013). Apart from that, the current system associated with this project also has the limitation with the scan rate In addition, load cell within this wireless system also give out the outputs with the reading of mille volts as well as it also requires a conditioner of signal for amplifying a particular signal (Pemsel and Wiewiora 2013). Apart from that, the current wireless device in this project do not have the potential of powering up as well as receiving the signal from the switches, string pot, torque cell, LVDT as well as load cell at the same time. Moreover, the operators would not be capable of picking the wireless transmitter with the help of the current system in this particular project (Marcelino-Sdaba et al. 2014). On the other side, this current system has the limitation of the number of devices which can connect in this particular project (Dez Rodrguez et al. 2014). Furthermore, this current system in this project has the National Instruments, software as well as hardware. The lag time in the wireless signal is a very crucial issue for this wireless system in the project (Pemsel and Wiewiora 2013). Noise level as well as the signal strength of this device should be studied properly in this project. References Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Dez Rodrguez, J.J., Oliver, C., Vicente, L. and Ahumada Cervantes, B., 2015. Addressing strategic environmental assessment of Mexico's transition towards renewable energy. InAEIPRO 2015: International Congress on Project Engineering(pp. 1121-1132). Heagney, J., 2016.Fundamentals of project management. AMACOM Div American Mgmt Assn. Hwang, B.G. and Ng, W.J., 2013. Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), pp.272-284. Joslin, R. and Mller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts.International Journal of Project Management,33(6), pp.1377-1392. Marcelino-Sdaba, S., Prez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms.International Journal of Project Management,32(2), pp.327-340. Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success.International Journal of Project Management,32(2), pp.202-217. Pemsel, S. and Wiewiora, A., 2013. Project management office a knowledge broker in project-based organisations.International Journal of Project Management,31(1), pp.31-42.