Project Management: Planning, Execution, and Challenges

Project Management
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Table of Content
Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
Main Body.......................................................................................................................................3
Project Management Plan............................................................................................................3
Project Execution Challenges........................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................15
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INTRODUCTION
Project management is the process of planning, organising and managing resources to
bring about the completion of project goals plus objectives (Akkermans and et. al., 2020). The
main challenge that is undertaken by the project manager is to achieve the project goals and
objectives while minimising the constraints. It is the application of knowledge, skills, tools and
techniques to project activities so as to meet the expectations of stakeholders. It involves the
development of project management plan which specify several aspects such as requirement of
resources, accomplishment of project, preparation of budgets, duration of project and so on.
Main Body
Project Management Plan
The project management plan is a written document that define the method of carrying
out the project within a limited duration of time as proper planning need to be done regarding the
scope, cost, goal and timeline of a project (Bjorvatn and Wald, 2018). The project manager
emphasises on tracking the overall activities and engaging the stakeholders so that better
decision could be taken. The significant aspect of project is to complete a specific task in a
proper manner as it follows a proper sequence of activities which determine the overall accuracy
and efficiency of a project. In addition to this, the event which is considered here is to construct a
building so that better image would be reflected and provide a greater prosperity of success in
future. This would enhance the company to create a vast expansion and generate greater revenue
so it plans to shift its employees and staff in a workplace and also it provides an enormous
opportunity to generate multiple streams of revenues by emphasising on modernisation and
diversification. There are different aspects or elements of project management plan which are
elucidated below:
Stakeholder analysis:
This analysis assists in determining the interest of individual towards the project which
involve division of work on the basis of their level of interest and also, they address conflicts by
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listening their issues so that they could ensure transparency and smooth operations of a firm
(Chawla and et. al., 2018). Gaining an insight support from stakeholders and external users
would help in determining the availability of resources and also aids in improving the quality of
project by discussing them with relevant fact and figures as it helps in successful completion of
project in a respective time period.
High power plus high interest: These are most precious stakeholders who are given an
utmost priority as they take active part in core activities of an organisation. The reason that they
develop more interest is that they put their maximum efforts in fulfillment of task. The categories
involve in this are the owners, senior executives, managers and managing directors.
Low power but high interest: It is necessary that stakeholders has to keep themselves
updated so as to make ensure that there is not arrival of issues or any sort of problems to them.
Stakeholders covered in this category are suppliers as well as subordinates.
High power but low interest: The stakeholders tends to generate maximum output while
making their customers satisfied but excessive use of same message and communication with
them would develop low interest among them. Example of such stakeholder category are
investors, customers as well as trade associations.
Low power plus low interest: In this, people are not much bothered about their work and
lacks clarity in communication as the information are passed to them on periodically. the
examples are many such as security guard, sweepers, and so on.
Communication plan
Hence, it can be determined that the engagement of stakeholders in decision making
would take place from time to time in order to make ensure that they are assured about the
completion of the project (Farashah, Thomas and Blomquist, 2019). A basis communication plan
is presented as follows:
Stakeholder Name Engagement Channel Frequency
Owners, Managing director,
Senior authority
Manage Closely E mails, personal
meetings
On a regular basis
Buyers, Sponsors To make them feel
satisfied
E mails,
telephonically
Once in a month
Suppliers as well as To keep them Video conferencing, On a weekly basis
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