Project Management: Phases, Stakeholder Register, Project Charter, Network Diagram, Cost Calculation

Project Management

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Explanation of different phases of project life cycle...............................................................1
2. Creation of stakeholder register and communication management plan for the project.........3
3. Creating the project charter for the project..............................................................................6
4. Creating the project network diagram for the project..............................................................7
5. Calculation of net present value cost of the project.................................................................7
6. Creating the project breakdown structure for the project........................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Project management is a wide term which is focused with different types of activities that
are performed to carry out all the tasks of project in systematic manner. These are planning,
organising, controlling, evaluating, monitoring, assessing etc. If the manager who is handling the
project is not able to pay attention towards all of them then it may result in inappropriate
execution of all the activities which may leave negative impacts upon success of the project
(Cicmil and Gaggiotti, 2018). This assessment is focused with the project of Sunshine Homes
which is a real estate company and engaged in the rental of accommodation activities in
Australia. It is planning to develop a new cloud-based MIS and upgrade the IT infrastructure of
the company. For this purpose, different aspects will be covered in this report which includes
phases of project life cycle, stakeholder register, communication management plan, project
charter, project network diagram etc. Additionally, work breakdown structure will also be
created along with calculations of project cost and net present value of the project
MAIN BODY
1. Explanation of different phases of project life cycle
The real estate industry of Australia is very big and one of the successful entities which is
involved in rental of accommodation is Sunshine Homes. The company has grown so far in last
few years. The number of agents which are employed by it is around 90 and it has opened five
new offices. The management of the enterprise decided to upgrade the infrastructure of the
organisation. Apart from this, it has also been planned by them that they will be developing a
new cloud-based management information system. The directors of the company decided to
outsource the web development and for this purpose a contract is signed with PB web deign
which will be working on the project of development of cloud-based MIS. While working on the
project it will be very important for all the managers to make sure that they are paying attention
towards all the stages of project lifecycle (Ekrot, Kock and Gemünden, 2016). There are four
different stages of it which are initiation, planning, execution and closure. Description of all of
them is as follows:
Project initiation: It is first stage of project life cycle where the need for business is
identified along with the problem which is affecting the goals. When it is identified then the
managers try to find the best way to deal with the problem and resolve it in systematic manner.
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In order to meet all the future goals and objectives of the organisation it is very important for the
managers to make sure that they are able to analyse that project is feasible or not. As Sunshine
Homes is planning to upgrade the IT infrastructure and develop the cloud-based management
information system so the managers have to analyse the need of it. The cloud-based MIS will be
outsourced by the organisation from PB design. There are various types of aspects that are
required to be focused at this stage (Elias, 2016). There are project objectives, deliverables,
dependencies, risks, priorities etc.
While working on the project of development and upgradation of Sunshine Homes it will
be very important for the project managers to make sure that they are sharing details of all these
elements with the stakeholders so that they can analyse the project. If the details regarding the
project will not be shared with them then it may result in lower engagement of them in the
project. While selecting an entity to outsource the web development it will be very important for
the management teams of the organisation to assure that they select more than one contractor so
that one of the could be selected. This activity was performed by the enterprise and then PB
design was selected to outsource the MIS. This stage is also focused with formulation of the
objectives so that project could be completed on time. The main aim of the project of
development and upgradation is to complete it within 3 years and ignore the overspending of the
budgets.
Project planning: At this phase the main responsibility of the project managers is to
formulate plans which are required to be focused for completing the project successfully. If they
will not be able to form the plan effectively then it may leave negative impacts upon the
functionality of the project. There are various types of plan that are formed at this phase. These
are related to budget, cost, risk assessment, progress measurement, identification of alternatives
for the project execution etc. As the managers of Sunshine Homes have decided to complete the
whole project of upgradation and development in 3 years so it is very important for them to
formulate effective plans (Galli, 2017). It has been planned by them that the progress of all the
activities will be measured on quarterly basis so that it could be estimated that it will be
completed in the predetermined time limit. Apart from this, it also been planned that the
monetary resources will be assigned to all the teams on the basis of their tasks and requirements.
With the help of it, possibility of overspending of the budget could be ignored. If the funds will
not be allocated according to needs of all the divisions then it may affect the successful
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