Project Management: Nursery Plan, Stakeholder Analysis & WBS Report

This report outlines a project for developing a nursery to meet the growing demand for childcare services. It details the project's scope, which includes capitalizing on the increasing trend of working parents seeking childcare solutions. A stakeholder analysis identifies key players such as management, investors, government, employees, and suppliers, categorizing their level of interest and power to inform engagement strategies. The report also includes a work breakdown structure (WBS) to efficiently manage project tasks, along with a cost analysis estimating expenses like operational, human resources, transportation, marketing, and maintenance costs. Resource requirements, including human resources, equipment, furniture, and a building, are identified as critical for project success. A project schedule, including activities like market research, idea evaluation, and funding arrangement, is presented alongside a Gantt chart for visual representation. Finally, the report addresses risk assessment using a risk matrix to identify and mitigate potential hazards, ensuring the project's successful completion. Desklib provides access to similar project management documents and solved assignments for students.

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

High power, high interest: These stakeholders are crucial part of business hence it is
imperative to keep these people informed. In addition, these people have high power and also
pay attention to the business. The entity is required to put significant efforts so that these
stakeholders stay happy and satisfied. Giving importance to these people is important for the
success and growth of project (Simmers and McMURRAY, 2019). In current scenario,
management and investors of the project are included in this category. They have high interest in
business and also hold the power to affect the business.
High Power, low interest: The stakeholders who are included in this segment have high
power but they are not highly interested in the business. However, it is vital to keep these people
informed as they can influence the business significantly (Dickens, Womack and Dimes, 2019).
In current scenario, In current scenario, government is the most important stakeholder. Here
government has power to affect the business by formulating and making modifications in the
existing business policies.
Low Power, high interest: In context of current project, employees, suppliers and
competitors are such stakeholders who are highly interested in business. But, these stakeholders
do not have power to affect the business operations. However, it is required to keep these people
informed for smooth running of business.
Low power, Low interest: It comprises those stakeholders who lack in terms of power
and attention as well. In current scenario, media is the stakeholder who will fall under this
category. The company can run business significantly by informing these people on periodically
basis.
Work Break Down structure
Work break down structure is a model that is used in the project management so that the
project can be completed efficiently. It is a method wherein the entire project is divided into
smaller components in order to attain success in future period of time. In addition, it also helps in
utilizing the skills and capabilities of each and every employee in an efficient manner. A work
break down structure is a key deliverable of project management. In addition, it helps in
completing project successfully. After preparing WBS, it is easy to manage different activities of

the project. In current scenario, work break down structure will include hierarchical arrangement
of various tasks that is required for completion of project. It will comprise different activities that
need to perform for completion of the project in an efficient manner (Abotaleb and El-adaway,
2018). In current scenario, the entrepreneur will perform ample of tasks for which it is important
to prepare a work break down structure. It will include the roles and responsibilities that need to
perform to complete the project efficiently. Work break structure for the current project is given
below:
Costs/Use of resources
During a project, ample of expenses incurred which need to take into consideration while
completing the project. Project cost is an important factor that includes the expenses which
emerge throughout the project. Main aim of each and every project is to earn potential profit. For
this, it is imperative to assess the cost of project. Here, assessment of cost helps in preparing
suitable strategies to earn profit. It assists researcher in keeping control over expenses in order to
ensure success of project. By keeping track over cost, it is possible to formulate effective
strategies for future success of project. During the project, different cost such as resources,

equipments, tools and more emerged (Ovadia, 2018). In current scenario, the project is related to
start a nursery. In this situation, it is imperative to prepare a cost statement that will comprise all
the expenses that might occur while completing the project. Through the cost statement, it will
easy for entrepreneur to keep control over the expenses in order to ensure future success. For this
purpose, cost analysis is mentioned below:
SEGMENTS ESTIMATED COST
Operational cost £250
Human resources cost £150
Transportation cost £175
Marketing & Advertisement
cost
£150
Maintenance cost £175
TOTAL £ 900
Through above statement, it is analyzed that the overall project will require expense of
nearly £ 900. It will include different expenses such as operational cost, human resource,
operational, transportation and marketing cost. There is also cost of maintenance that will require
for managing the building, equipments and other resources in better condition.
Resources
Resources are imperative part of business as it helps in completing a project efficiently.
There are several resources required during the project. Without availability of suitable
resources, it is not possible to complete the project successfully. Resources include the tools,
equipments, material which are essential so that the project can be accomplished timely. In case
of current project, there is requirement of different resources such as human resources,
equipments, tools, furniture, building and more (Liu, Mathrani and Mbachu, 2019). The given
project is about development of nursery. Here, ample of tangible and intangible resources are

required to ensure success of the project. In addition, the entrepreneur is required to make
efficient use of the resources. For this purpose, it is important to make suitable strategies and
implement those strategies successfully. By the effective use of resources, it is possible to ensure
the success of project.
Project Schedule
A project schedule refers to the start and end dates and the milestones which need to be
done to accomplish the project in timely manner. While undertaking a project, a complete
schedule is followed. This schedule includes starting and end dates of the project. In addition, it
comprises the activities which need to perform to complete the project within the stipulated
period of time. For the success of project, it is imperative to prepare a proper schedule. It
comprises the activities along with time period under which those activities need to complete.
There is a complete procedure which is followed while undertaking a project. With project
schedule, it is possible to minimize the ambiguity and complete the project efficiently. It brings
clarity in project work and helps in completing the project in minimum possible time. It is
imperative to analyze the activities of project before preparing schedule (Anderson and et. al.,
2018). In current scenario, the entrepreneur will require to perform ample of activities
throughout the project. For this purpose, it is required to prepare an appropriate schedule
including different activities. In context of existing project, schedule is given below:
Activities Time duration
Performing market research 30 Days
Searching the potential ideas 20 Days
Evaluating the ideas 15 Days
Selecting effective idea 10 Days
Arrange the funding 20 Days
Pick the business location 15 Days
Chose the name 5 Days
Register the business 7 Days
Gantt Chart

It is one of the popular used ways of demonstrating tasks along with time available for
such activities. It is a graphical tool which helps in identifying roles and responsibilities of
different people including in the project. In addition, gantt chart defines the schedule of different
activities to complete the project. Additionally, it assists in planning and scheduling the project
properly (Kerzner, 2019). Through, gantt chart, it is possible to reduce down the complexity of
project. Apart from this, it provides visual view of project tasks. In case of current project,
several tasks will perform that can be present graphically by preparing Gantt Chart.
Risk assessment
Risk assessment is a process that is helpful in identification of potential hazards and
analyzing the potential impact of hazards. It is assumed that risk is associated with each and
every project. For completing a project successfully, it is required to assess the potential risk so
that project manager can prepare suitable strategies to face the future uncertainty. In addition, it
is the effort of identifying potential events that might affect individuals, assets and business
negatively. In this regard tools of risk assessment are briefly explained below:
Risk Matrix: This is one of the simplest tools of risk assessment. It is a tool that is used
by an individual again and again in different circumstances. This tool allows the business owner
to analyze the risk in terms quantitative value. In this, risk break out into different scales and
numeric value is assigned to each and every potential risk and impact. In addition, this tool is
helpful in assessing the level of risk which can be accepted by an individual. It also helps in
identifying the ways to minimize the risk at lower level (Thoene and Turriago-Hoyos, 2019).
However, it is required to execute proper management practices to handle the impact of
uncertain events efficiently.
Decision tree: This tool is related to take appropriate decisions for business reducing the
level of uncertainty. It can be applied in various situation of project management. In addition,
this tool is helpful in assessing the potential impact of different situation that might occur in
future period of time. By taking effective decisions, it is possible to minimize the level of
uncertainty in business. Additionally, it helps in handling the situation in best possible way. By
using this tool, it is possible to reduce down the uncertainty at lower level. Here, statistics can be
used in order to take meaningful decisions. Moreover, it is a tool that is adopted for the purpose
of future predication. By this way, it helps in minimizing the future uncertainties efficiently.

With above discussion, it is analyzed that there are different tools that are adopted to
assess the potential risk and minimize the future uncertainties efficiently. In case of current
project, risk assessment is imperative to analyze the potential hazards in an efficient manner. In
current scenario, there is risk of failure of business, low profit margin and more. In addition,
change in external environment is also a major risk factor for the business owner. Therefore, it is
imperative to assess the potential risk and then prepare effective strategies accordingly.

Conclusion
It is assessed through above-mentioned information that entrepreneurship is a function
which is related to start a new business. The above study is based on the project of starting a
nursery by looking at the increasing trend of working parents. It is concluded that the idea is
viable and has the potential of growth in future. There is discussion that different activities need
to perform to complete the project successfully. It is summarized that there are several resources
required to start and operated the business in an efficient manner. Discussion has been carried
out regarding project schedule and risk assessment.

References
Books and journals
Abotaleb, I.S. and El-adaway, I.H., 2018. Managing construction projects through dynamic
modeling: Reviewing the existing body of knowledge and deriving future research
directions. Journal of Management in Engineering, 34(6), p.04018033.
Anderson and et. al., 2018. Examining Millennials Reshaping Organizational Cultures: From
Theory to Practice. Rowman & Littlefield.
Dickens, D.D., Womack, V.Y. and Dimes, T., 2019. Managing hypervisibility: An exploration of
theory and research on identity shifting strategies in the workplace among Black
women. Journal of Vocational Behavior, 113, pp.153-163.
Jugdev, K., Mathur, G. and Cook, C., 2018. Linking workplace burnout theories to the project
management discipline. International Journal of Managing Projects in Business.
Kerzner, H., 2019. Innovation project management: Methods, case studies, and tools for
managing innovation projects. John Wiley & Sons.
Liang, Q., Leung, M.Y. and Zhang, S., 2021. Examining the Critical Factors for Managing
Workplace Stress in the Construction Industry: A Cross-Regional Study. Journal of
Management in Engineering, 37(5), p.04021045.
Liu, T., Mathrani, A. and Mbachu, J., 2019. Benefits and barriers in uptake of mobile apps in
New Zealand construction industry: What top and middle management
perceive. Facilities.
Ovadia, S., 2018. Shadow project management: using the project management body of knowledge
to informally manage library projects. In Project Management in the Library Workplace.
Emerald Publishing Limited.
Simmers, C.A. and McMURRAY, A.J., 2019. Organisational justice and managing workplace
innovation: How important are formal procedures?. International Journal of Innovation
Management, 23(03), p.1950026.
Thoene, U. and Turriago-Hoyos, A., 2019. Trust, business, and society in a post-conflict scenario-
the case of managing workplace practices in Colombia. International Journal of Business
and Globalisation, 23(2), pp.232-249.
Walker, D. and Lloyd-Walker, B., 2019. The future of the management of projects in the
2030s. International Journal of Managing Projects in Business.