Key Characteristics of a Project and Stakeholder Analysis

This document discusses the key characteristics of a project, including uniqueness, temporary nature, and goal-oriented nature. It also explores the importance of stakeholder analysis in project management. The purpose of Project Initiation Document (PID) and feasibility in project planning is explained. The document further covers the nine knowledge areas in project management and the benefits of network diagrams. It concludes with the characteristics of a project manager and the importance of closing a project.

Faculty of Business
and Law
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Table of Contents
TASK 1...........................................................................................................................................3
1 a) Key characteristics of any project...................................................................................3
1 b) Stakeholder and purpose of stakeholder analysis............................................................3
2) Purpose of PID...................................................................................................................3
3) Purpose of feasibility and its importance...........................................................................3
4) Nine knowledge areas in project management and importance of any two.......................4
5) Characteristics of project manager and importance of closing or ending the project........4
6) Benefits of Network diagram.............................................................................................5
TASK 2...........................................................................................................................................6
Project initiation phase...........................................................................................................6
Planning Phase........................................................................................................................8
Executing the project............................................................................................................13
Control of project.................................................................................................................14
Project closure......................................................................................................................15
REFERENCES..............................................................................................................................16
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TASK 1
1 a) Key characteristics of any project
The project has many different types of attributes and characteristics which are discussed as
follows-
The project is always very unique and the project cannot be same with the existing project.
In addition to this the other major characteristic is that the project is of temporary nature and this
is majorly because of the reason that the project need to end (Meredith, Shafer and Mantel Jr,
2017).
Another major characteristic of project is that this is completed only when the goal or the aim of
the project has been attained.
1 b) Stakeholder and purpose of stakeholder analysis
The stakeholder is a person or the independent party who is interested in the working and
operation of the project and the project to get successful. This is majorly because of the reason
that when the stakeholder interest will be attained then it means that the project has become
successful. The analysis of stakeholder is very essential as this will assist the project manager in
getting the project complete in good and effective manner. This is important as this will help the
manager in knowing the interest and power of the different types of stakeholders within the
project.
2) Purpose of PID
The major purpose of Project Initiation Document is to capture the basic and common
information relating to the project and the purpose of project. This PID provides a basic
overview of the whole project and this will assist the reader to gain knowledge relating to the
project.
The three major items that could be found over the PID are as follows-
Purpose of project
Background of the project
Assumption, constraints and the dependencies of the project
3) Purpose of feasibility and its importance
The purpose of feasibility is to determine the fact that whether the idea of the project will be
viable or not and whether it will become successful or not in attaining all its goals. The project
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will only be successful if the project idea is feasible in all aspect like financially,
technologically, legally and many others (Kerzner, 2019). The major importance of feasibility in
terms of management decision making is that if the project idea will be feasible then only the
project will become successful as the decision will be taken in side of the feasible project only.
4) Nine knowledge areas in project management and importance of any two
The nine knowledge are of project management are as follows-
Project integration management
Project time management
Project quality management
Project communication management
Project scope management
Project cost management
Project HR management
Project risk management
Project procurement management
Out of this the project time management is very important as if the project will not be completed
on time then it means that the project will not be successful.
In addition to this the project quality management si also very important for the project
management as this will assist the company to get more success in the project as if the quality
will be good then more of the employees will come.
5) Characteristics of project manager and importance of closing or ending the project
The major characteristic of the project manager is good and effective leadership skills and the
communication skills and this is majorly because of the reason that if leadership will not be good
then the manager will not be able to manage the working of the project. In addition to this
another major characteristic is the team building as the project is done in a team and it cannot be
performed in isolation.
It is very important to end the project as if the project will not be ended then the company will
not be able to assess the fact that whether the project was successful or not and if not then what
corrective actions can be taken.
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6) Benefits of Network diagram
The network diagram is beneficial because of the fact that this shows and highlights the
interdependency of the activities of the whole process and other activities (Fleming and
Koppelman, 2016).
Another major benefit is that this outlines the flow of the work that is in which direction the
work of the project is going and whether it is being achieved or not.
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
A 6 wks Tue 8/18/20 Mon 9/28/20
Auto
Schedule
d
B 7 wks Tue 8/18/20 Mon 10/5/20
Auto
Schedule
d
C 5 wks Tue 9/29/20 Mon 11/2/20 1
Auto
Schedule
d
D 6 wks Tue 9/29/20 Mon 11/9/20 1
Auto
Schedule
d
E 4 wks Tue 11/3/20 Mon 11/30/20 2,3
Auto
Schedule
d
F 7 wks Tue 11/10/20 Mon 12/28/20 4
Auto
Schedule
d
G 4 wks Tue 12/29/20 Mon 1/25/21 5,6
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The critical path of this project includes the activities 1, 4, 6, 7 and this is the critical path as if
this path is used then the company will attain the project in very less time.
TASK 2
Project initiation phase
 Introduction/ Background
Looking at the current scenario it has been identified that technology has
changes the prospective of different individual and the way of looking of different
individual in the market. This is the reason which has driven the New Euro Centre to
create or construct the new It facility store at Docklands area of London. This will
ultimately assist the center in having a good sort of the room for perfuming the IT
facilities marketing aspect of the company in the market. Different activities which will
be performed by newly inaugurated center are that it will assists in Booking different
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services. It will also provide services of TV and telephonic provision for conference
and meeting center at the workplace (Medina, 2018).
2.0 Project Aim
“To construct new euro center by integrating different IT infrastructure into the same”
3.0 Project Objective
 To incorporate and test the It infrastructure installation in newly constructed
euro center for the company.
4.0 Stakeholder
 Project Manager: Project manager will be the one in the project whom will be
making the variety of the different sort of decision and policy in the
organization and on the basis of the same different activity or the operation
which will be carried out by the different individual in the project are decided.
They are the one in the project whom generally have all the responsibility in
regards of achieving and making the project successful.
 Project sponsor: Project sponsor is the individual or institutions which
generally used to provide the different finance to the project and on the basis of
the same variety of the different type of activity are carried out. Different
activity are recruitment of Human resource or procuring raw material. Project
sponsor also used to provide the information about the external environment to
project manager and on basis of same different plans are made.
 Supplier: They are another important sort of the stakeholder of the project. As
supplier in general are one of the important stakeholder of the project. As it has
been identified that supplier generally used to provide the different raw material
in the project and on the basis of the same variety of the different type of
activity are generally performed in a way that it help the company in
completing the project effectively.
 Project team: Project team is regarded as a group of the individual who
generally used to perform the variety of the different guidance which has been
passed on by the project manager
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5.0 Target Audience
 Looking at the target audience which will be targeted by construction of new
room will be consumer in the market. It has been indentified that they are the
one for who will be using this sort of the activity of the organization. Teen
consumers are the one whom will be attracted the most by the different offering
of the company in the market (Ray, 2019).
 Another targeted audience of the newly constructed project of the company is
the employee of the company. As they are the one in the organization who will
be using the variety of the different IT infrastructure which are adopted in the
organization.
6.0 Scope
There are varieties of the different sort of the scope which will be seen by the
organization due to inauguration of new store in the market. As it has been identified
that it will help the company in enhancing the level of sales of the company in the
market. As new feature of the store will eventually help the company in attracting the
better number of the consumer toward the offering of the company. Another scope will
be enhancing the goodwill of the company as more number or the individual are able to
understand the different offering of the company in market.
7.0 Project Delivery
This project will be offering a new Euro center at Docklands area of the London. Hall
which will be offered to will include the different IT infrastructure tools In the
organization.
Alternative
 First sort of the alternate plan which will be made in the project was in the
regards of source through which variety of the different raw material will be
procure in the organization. It has been analyzed that any miscommunication
with fixed supplier may create the situation where organization find it difficult
to get the different resources whenever require in the project (Samset and
Christensen, 2017).
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 Another sort of the alternate plan in the organization will be drafted will be in
regards of the Human resource procurement in the organization. It has been
identified that organization has to make sure that they are selecting more than
one recruitment method to recruit different Human resource in the market.
Planning Phase
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
Initiation 35 days Wed 8/12/20 Tue 9/29/20
Auto
Schedule
d
Team building 14 days Wed 8/12/20 Mon 8/31/20
Auto
Schedule
d
Identifying roles and
responsibility 12 days Tue 9/1/20 Wed 9/16/20 2
Auto
Schedule
d
Assigning roles to team
member 12 days Thu 9/17/20 Fri 10/2/20 3
Auto
Schedule
d
Planning 70 days Wed 8/12/20 Tue 11/17/20
Auto
Schedule
d
Project requirement
determination 18 days Mon 10/5/20 Wed 10/28/20 4
Auto
Schedule
d
Budget forming 17 days Thu 10/29/20 Fri 11/20/20 6
Auto
Schedule
d
Charter plan formation 13 days Mon 11/23/20 Wed 12/9/20 7
Auto
Schedule
d
Critical factor
understanding 22 days Thu 12/10/20 Fri 1/8/21 8
Auto
Schedule
d
Execution 55 days Wed 8/12/20 Tue 10/27/20
Auto
Schedule
d
Employee skill
development 6 days Mon 1/11/21 Mon 1/18/21 9
Auto Allotment of resources 25 days Tue 1/19/21 Mon 2/22/21 11,9
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Schedule
d
Auto
Schedule
d
Performance management 8 days Tue 2/23/21 Thu 3/4/21 12
Auto
Schedule
d
Performance management
Quality 16 days Fri 3/5/21 Fri 3/26/21 13
Auto
Schedule
d
Monitoring 40 days Wed 8/12/20 Tue 10/6/20
Auto
Schedule
d
Test conduction 8 days Mon 3/29/21 Wed 4/7/21 14
Auto
Schedule
d
Bug identification 12 days Thu 4/8/21 Fri 4/23/21 16
Auto
Schedule
d
risk management 8 days Mon 4/26/21 Wed 5/5/21 17
Auto
Schedule
d
Monitoring resources 12 days Thu 5/6/21 Fri 5/21/21 18
Auto
Schedule
d
closure 25 days Wed 8/12/20 Tue 9/15/20
Auto
Schedule
d
identification of
compatibility 14 days Mon 5/24/21 Thu 6/10/21 19
Auto
Schedule
d
review of project 7 days Fri 6/11/21 Mon 6/21/21 21
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Resource plan
Resource plan generally refers to the plan in the project which generally used to define the
variety of the different sort of resources which will be generally require to conduct the project in
effective way. In regards of the current project of HCL the company will be recruiting the 75
Human resources in the organization. Also there are two compiling officer whom will be also
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hired by the company in the market to make sure that different activity of the company are
linked with the different laws and regulation which are prevailing in the market (Sundararajan,
and Tseng, 2017).
WBS
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Financial plan
Financial plan of the project generally used to define the amount of the financial resources
which need to be invested by the organization to complete the project in market. These resources
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will be generally used to procure different resources in the project. For completing the current
project of the company £200,000.00 has been allotted to complete different activity.
Quality plan
Quality plan is the plan which generally used to describe the tool which we will be used
to manage the Quality of the company offering in the market. It has been identified that for the
current project different sort of the quality management tool will be used in the organization. For
current project six sigma is the quality management tool which will be used in the organization.
Reason behind selecting the same is that it will help in managing the quality of the product in the
better way. At the same time as the alternate plan for managing the quality of the activity during
the project will ultimately use the balance score card in which different activities are generally
recorded.
Risk plan
Risk plan defines the variety of the different type of the risk which may occur in the project and
can bring the negative impact on the outcome of the project. Looking at the risk associated with
the current project it is related to employee conflict in the project as well as risk associated with
scarcity of the resources at the time of carrying out different activity in the organization.
Acceptance plan
This is the plan which generally used to define the whether the project of the company was
successful and will be accepted by all in the market. This plan in general used to look at the
situation weather project which has been developed is like or dislike by the different individual
in the market or not.
Executing the project
It is the third stage of the project lifecycle. After initiation and planning phase of the project
Executing phase of the project has been generally carried out in the project. There are varieties
of different activity which will be including in the Executing phase (ul Hassan, Ahmad and
Zuhaira, 2018). Some of the activities are as follows:
Time: This element defines the amount of the time duration which will be taken by the
project team to complete the project in the market for the client. To complete the current project
in the market it will require the minimum of 6 months to complete the project for the client.
Quality: This element generally used to define the how the quality of the project will be
maintained in the long run. For managing the Quality of the project in the market two type of the
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tool will be used in the project. Two different type of Quality management tool which will be
used in the project will be benchmarking tool and balance scorecard tool in the organization. In
the benchmarking tool different standard are set in the past and on the basis of the same different
current activity will be compare in the organization.
Change: To maintain the effectiveness of the project it is very much important for the
business to maintain a good sort of changes in the organization and on the basis of the same
different changes will be brought in the project. For the same reason project manager in the
market will be evaluating the market and on the basis of the same variety of different sort of the
changes which will be brought in the project.
Risk: There are variety of the different type of the risk which will be certainly occur in
the project and it will impact the efficiency of the project carried out. To overcome the same
kind of the risk in the market varieties of different kind of alternate plans will be made in the
project.
Communication: This element generally used to define the different communication
tool which will be used in the project to carry out the different activity in the organization. There
are two different type of communication tool which will be used in the project. First
communication tool will be used will be verbal communication. This communication tool which
will be used at the time of communicating with the same level of individual in the team. At the
same time to communicate with the senior in the project team written communication tool will
be used in the organization in real.
Control of project
Next stage in the process of conducting the project is controlling the variety of the activity of the
project. This is stage in the project life cycle in which different activity which are being carried
out in the organization are carried in a way that it finds to be effective for the project in the long
run (Wen and Qiang, 2019). There are varieties of the different sort of the activity which will be
performed in the organization. Some of the activities which will be performed are as follows:
First step which will be taken in the organization will be in regards of recruiting highly
skilled employee in the organization they will be generally looking at the variety of the different
activity and will be reporting to the superior in the organization. On the basis of the same
different decision will be taken by different employee. This will ultimately help the company in
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understanding the variety of the activity which generally used to occur on day to day basis and
the point where organization is lacking in the long run.
Another step which will be taken in the project will be adopting the benchmarking tool in the
organization. Under the benchmarking tool there will be different standard will be fixed in the
organization and on the basis of the same will
Another step which will be taken to control the project will be with the help of the
benchmarking tool in the market. Under this framework variety of the different sort benchmark
will be set in the organization and on the basis of same original performance will be analysed
and on the basis of same different decision will be taken in the organization. This will eventually
help the company in managing and controlling the project in the better way as well.
Project closure
This is the last stage of the project life cycle in which project of the company is generally
finished and delivers to the client in the market. This is the last stage of project, project manager
in the market generally used to check weather all the different sort of the requirement has been
met or not in the project. After understanding the same in the market project manager generally
used to check the variety of the issue which may be faced by the project in the coming year.
After, understanding the same in the market project manager generally used to look for the
variety of different sort of strategy to overcome the same in the better way at the time of
carrying out different project in the market.
For undertaking variety of different activity in the organization, client has to hire 20
workers so that variety of the different sort of the activity can be carried out very easily in the
project
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REFERENCES
Books and Journals
Bao, Y., Shi, M. and Kalra, A., 2017. Managing Project Selection Through Contract
Design. Rotman School of Management Working Paper, (3077351).
Edwards, P.J., Serra, P.V. and Edwards, M., 2019. Managing Project Risks. Wiley-Blackwell.
Low, Z.H., Ismail, I. and Tan, K.S., 2018. Sintering Processing of Complex Magnetic Ceramic
Oxides: A Comparison Between Sintering of Bottom-Up Approach Synthesis and
Mechanochemical Process of Top-Down Approach Synthesis. Sintering Technology:
Method and Application. p.25.
Mamédio, D.F. and Meyer, V., 2020. Managing project complexity: how to cope with multiple
dimensions of complex systems. International Journal of Managing Projects in
Business.
Medina, R., 2018. Managing Project Competence: The Lemon and the Loop. CRC Press.
Ray, P.D., ALBEADO Inc, 2019. Pervasive, domain and situational-aware, adaptive,
automated, and coordinated big data analysis, contextual learning and predictive control
of business and operational risks and security. U.S. Patent Application 16/240. 603.
Samset, K. and Christensen, T., 2017. Ex ante project evaluation and the complexity of early
decision-making. Public Organization Review. 17(1). pp.1-17.
Sanghera, P., 2019. Project Integration Management. In CAPM® in Depth (pp. 87-132). Apress,
Berkeley, CA.
Sundararajan, S.K. and Tseng, C.L., 2017. Managing project performance risks under
uncertainty: Using a dynamic capital structure approach in infrastructure project
financing. Journal of Construction Engineering and Management. 143(8). p.04017046.
ul Hassan, I., Ahmad, N. and Zuhaira, B., 2018. Calculating completeness of software project
scope definition. Information and Software Technology. 94. pp.208-233.
Van Offenbeek, M.A. and Vos, J.F., 2016. An integrative framework for managing project
issues across stakeholder groups. International Journal of Project Management. 34(1).
pp.44-57.
Wen, Q. and Qiang, M., 2019. Project managers’ competences in managing project
closing. Project Management Journal. 50(3). pp.361-375.
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