Developing a Nursery for Childcare: Project Management and Risk Assessment

Level 5 Managing
projects in the
worplace

Table of Contents
Introduction.................................................................................................................................................3
Outline of project.....................................................................................................................................3
Scope of Project.......................................................................................................................................3
Stakeholder Analysis...............................................................................................................................4
Work Break Down structure....................................................................................................................5
Costs/Use of resources.............................................................................................................................6
Resources................................................................................................................................................7
Project Schedule......................................................................................................................................8
Risk assessment.......................................................................................................................................9
Conclusion.................................................................................................................................................11
References.................................................................................................................................................12

Introduction
Entrepreneurship is gaining popularity in current period of time. It is an activity wherein
a person evolve new products or services based on a unique concept (Walker and Lloyd-Walker,
2019). The present study is also based on such a project wherein the entrepreneur is looking
forward to develop a nursery for childcare. The main rational behind the project is increasing
demand of childcare services as parents are working. This project will prove beneficial in current
scenario. The report will include scope of project, stakeholder analysis. In addition, the study
will cover work break down structure for the project. Additionally, the report will include an
analysis of resources and project schedule to complete the project successfully. At end,
assessment of risk will also include in the following report.
Outline of project
The project related to the development of Nursery for meeting the requirement of
childcare. In current time, majority of parents are working hence they seek for childcare services.
Parents do not have sufficient time to take care of children. Thus, they look for such nurseries or
child care services where their children get good care and support (Jugdev, Mathur and Cook,
2018). The rationale behind starting a nursery business is to earn high amount of profit due to the
changing attitude of parents. In addition, there is huge scope of growth and enlargement in the
current project. For this purpose, the entrepreneur will develop a nursery with an aim to earn
substantial amount of profit. There are certain resources such as equipments, furniture, building,
manpower and more are required to start and run the business of nursery in a successful way.
Further, the project will require huge amount of initial investment to purchase the resources and
run the business efficiently in future period of time. Apart from this, several people will be
appointed by the entrepreneur to help in smooth running of business. A work break down
structure will prepare so that the project can be completed successfully. In addition, the project
will complete as per an appropriate schedule wherein different people will have different roles
and responsibilities in terms of completion of project.
Scope of Project
The project has a wide scope of growth due to the changing trend and attitude of parents.
The project is related to developing a nursery. The demand of nursery or childcare services will

increase in future period of time. Nowadays parents are working hence they are worried
regarding the care of their child. Hence, they rely on child care services so that they can
concentrate on their work rather worrying about child. Trend of working parents is increasing
rapidly hence there is extensive scope of growth of nursery and child care services. Therefore,
the existing project will prove beneficial for the entrepreneur in terms of earning substantial
amount of revenue and profit.
Stakeholder Analysis
Stakeholders are the crucial part of business as they have the power to affect the
operations of the organization. In addition, they have interest in business and get affected by the
activities of the business entity. Major Stakeholders of an organization are investors, customers,
government, suppliers, managers, employees and more (Liang, Leung and Zhang, 2021). It is
important to maintain healthy relation with stakeholders for betterment of business. For this
purpose, there is a tool called stakeholder analysis is applied to understand the interest, needs and
expectations of stakeholder of business. In current scenario, major stakeholders are manager,
employees, customers, government and investors.
LEVEL OF ATTENTION
LOW HIGH
POWER
HIGH LOW
A) Minimal effort
Media
B) Keep informed
Competitors
employees
Suppliers
C) Keep Satisfied
Government
D) Key Players
Management
Shareholders