Business Fundamentals Question Answer 2022

Running head: BUSINESS FUNDAMENTALS 1
Business Fundamentals
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BUSINESS FUNDAMENTALS
2
1 a. Stakeholders can be very “hand on” with projects. The focus of the question still
remains, what if you give the stakeholder what was asked for but it was really not what was
needed and the benefits of the project were not realized?
To give stakeholders what was asked for but it does not meet what is needed may not benefit the
project in any way but only lead to project failure. In this sense, stakeholder should be provided
with requirements that align with the project requirements. However, providing stakeholders
with things that they ask for yet it does not benefit the project means that the project
management plan is poorly designed (Heagney, 2016). Running a project without good project
management plan is creating an unnecessary burden to the budget, which could result in
additional expenses to the project. Consequently, the extra expenses will means that the project
will have to incur additional costs to ensure that the set project expectations are delivered.
Failure of the project to realize benefits mean it has poor quality control and cannot remain
competitive in the market.
1 b. Would you say that it may be necessary to show a stakeholder that what they want
does not satisfy the requirements of the project?
It would be necessary to show stakeholders that what they want does not satisfy the requirements
of the projects to avoid taking the project in the wrong direction. Indeed, the project is supposed
to meet the client’s requirements, be delivered on time and within the specified budget.
However, taking into account stakeholder need that may not work in line with the client
requirements may result in accomplishing a project product that in the end will not satisfy the
needs of the customers (Kendrick, 2015). As a result of failing to meet the client’s requirements,
it will mean the developed product will be of poor quality, a waste of time and project resources.