Project Management and Stakeholder Analysis

This assignment delves into the world of project management, focusing on stakeholder analysis, risk management, and best practices. It emphasizes the importance of understanding stakeholders' needs and expectations to develop effective project plans. The study highlights various tools and techniques used in project management, such as stakeholder relationship management, risk analysis, and social network analysis. It also touches upon the key attributes of effectiveness in managing project portfolios and the application of dynamic capital structure approaches in infrastructure project financing.

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Defining key characteristic of project .....................................................................................1
2. Explaining key stages of project management ........................................................................2
3. Purpose of project initiation document (PID) and listing 3 major elements of PID................2
4. listing major knowledge areas of project management and importance of any 2 of them......3
5. Attributes of project managers and their importance in project..............................................4
6. Explaining meaning of stakeholders and their purpose and importance in the project
management.................................................................................................................................4
7. Drawing network diagram and showing critical path of activities..........................................5
..........................................................................................................................................................6
TASK 2............................................................................................................................................6
Project plan..................................................................................................................................6
Key stakeholders........................................................................................................................11
Risk analysis..............................................................................................................................14
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................19

INTRODUCTION
Planning, organising, analysing, monitoring and controlling is a procedure of managing
overall projects is the process of managing project. With the help of performing all these
activities in an effective manner, the set goals and objectives of a project management plan can
be achieved in an effective manner. The present study shows key characteristics of the project
along with essential stages of a project management procedure. It also shows purpose of project
initiation document along with various project management and their importance. In addition, it
also shows a brief description of stakeholders and their purpose and importance in the project
management process.
Further, the study also shows preparation of a project management plan for the expansion
purpose of London skill concern which is registered as a charity for helping young people of the
country. The project management plan includes all the risk factors involved in the expansion
purpose, involvement of stakeholders, list of activities to be performed for managing overall
expansion activities of London skill concern. Moreover, the plan also shows a critical path
through which the goals and objective of project can be achieved in an effective mannner
through Gantt chart and critical path.
TASK 1
1. Defining key characteristic of project
Project
Project can be defined as a set of various tasks that are needed to be performed in a
certain order for the purpose of achieving a specific goals and objectives. (Nicholas and Steyn,
2017) It can also be termed as a prepared plan by collaborating several activities with a major
objective of achieving a specific aim.
Characteristic of project:
Following are the key characteristics of a project:
 Duration: No project is for long term purpose. Each of the project have a certain specific
duration. Or in other words, it can be said that the start and end time and duration of the
project is specific and certain.
 Interdependence: It is also a major characteristic of each project. Each activity of a
project is interdependent with each other (Project Definition – Characteristics of Project.
1

2016). Therefore, change in a single activity can affect a large number of activities of the
overall project.
 Complexity: Each project includes certain activities that are quite complex to be
performed. All those complex activities are needed to be performed for achieving goals
of project.
 Scope: All the project contains a limited scope. This scope is defined in the project
management plan. In this order, each activity of the project is needed to be performed by
being within the boundaries of scope of the project.
 Risk: Performance and achievement of each project goals and objectives involves a
certain amount of risk of whether the project's aims could be achieved or not.
2. Explaining key stages of project management
Project management:
Project management is a process of planning, monitoring and controlling various
activities of the project plan so as to ensure that the set goals would be effectively achieved.
Following are the 5 major stages of project management:
1. Project initiation: Project initiation is a primary stage of project management process. In
this stage, the actual feasibility are being determined along with analysis of need and
estimation of time and funds required for completion of project (Schwalbe, 2015) .
2. Project planning: It is the stage at which project managers draws a plan with the help of
which set aims and objectives of the project could be achieved effectively by using the
minimum amount of resources.
3. Project Execution: Next stage of project management plan is to execute all the plans
developed in the earlier stage and performing various activities in the project as well.
4. Monitoring and controlling project: After execution of all the plans, managers need to
monitoring all the activities and developing control measures for avoiding and
eliminating all the inefficiency from the performance of project activities (Five Phases of
the Project Management Lifecycle. 2019).
5. Closure of project: It is the last stage of project management plan in which each goals
and objectives of projects are being achieved in an effective manner.
3. Purpose of project initiation document (PID) and listing 3 major elements of PID
Project initiation document
2

The project initiation document is an essential document prepared under the procedure of
project management. It includes each stage and essential points of the project. In order to this it
helps both client and the project team for analysing each stage and plan of the project.
Following are the key elements of a PID:
1. Scope
2. Risks
3. Stakeholder
4. listing major knowledge areas of project management and importance of any 2 of them
Project management knowledge areas
A combination of various technologies, methodologies and standards that helps in project
aims and objectives. Essential areas of project management are as under:
1. Integration management of project
2. human resource management
3. Management of scope of project
4. Time management
5. cost management
6. Risk management
7. Stakeholder management of project
8. Procurement management
9. Communication management
Importance of knowledge areas:
Each knowledge area contains their own importance in effective completion of project.
Major importance of knowledge areas can be determined as under:
 Time management: In this knowledge area,m project managers determines the time
involved in project and determining the best path to complete the project with minimum
time.
 Stakeholder analysis: Stakeholders analysis is the area through which effective plans are
being developed through which wealth of each stakeholder could be enhanced (Kerzner,
2018.). As wealth of stakeholders have direct relation with achievement of project goals
and objectives.
3

5. Attributes of project managers and their importance in project
Following are the key characteristics of project managers:
1. Transparency
2. Communication skills
3. Decision making skills
4. Problem solving attitude
5. Consistency
Importance of these characteristics for project cam be determined as under:
 Problem solving attitude: It is a major attribute of a project manager, as with the help of
it, each problem that arise while performing any activity of project can be ssolved in an
effective manner.
 Communication skills: With the help of this characteristics, each goals, objectives, any
important decision, etc. can be communicated to each member of project team. It plays an
important role in improving workings of overall project.
6. Explaining meaning of stakeholders and their purpose and importance in the project
management
Stakeholders
Stakeholders are the persons that plays an important role in the performance of overall
project activities. Further, these stakeholders are also interested in the actual result of the project.
Purpose of stakeholder analysis:
Stakeholders analysis is a technique that helps in identifying each stakeholders along with
their interest in the project. Further, this analysis also helps in developing effective plans through
which wealth of each stakeholders could be improved. It also helps in achieving the overall aims
and objectives of the project as it have a direct relationship with the enhancement of wealth of
stakeholders.
Importance of stakeholders
Following are the major importance of stakeholder:
 they help in effective development of strategies
 They provide sufficient funds for smooth completion of project
 They analyses the risk involved in project and develops effective strategies for their
elimination as well.
4

 They also plays an important role of encouraging each team members for prforming their
tasks effectively.
7. Drawing network diagram and showing critical path of activities
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
1 8 days Mon 03-06-19 Wed 12-06-19
Auto
Schedule
d
2 18 days Thu 13-06-19 Mon 08-07-19 1
Auto
Schedule
d
3 3 days Tue 09-07-19 Thu 11-07-19 2
Auto
Schedule
d
4 8 days Fri 12-07-19 Tue 23-07-19 3
Auto
Schedule
d
5 18 days Wed 17-07-19 Fri 09-08-19 7,8
Auto
Schedule
d
6 13 days Thu 13-06-19 Mon 01-07-19 1
Auto
Schedule
d
7 3 days Fri 12-07-19 Tue 16-07-19 3,6
Auto
Schedule
d
8 13 days Thu 13-06-19 Mon 01-07-19 1
5

TASK 2
Aim: To expand the project management plan to give advice and guidance on careers to school
children and young people who are disadvantaged to seek higher education and training. A case
study on London Skills Concern (LSC).
Context of project plan:
The project focus on developing a plan for London Skills Concern (LSC) who mainly
focus on performing charity business to give education and training facilities to the young
people. It also focus on helping disadvantaged unemployed and young single parent mother by
giving proper training and education program (Sundararajan and Tseng, 2017). This project
effectively focus on making strategic plan to provide best quality education and training to the
young disadvantaged people by using social media platform, online games, digital and
information technology and Eclips products (Patanakul, 2015).
Objective of project
 To evaluate and examine the need of higher education and training to disadvantaged
young people.
 To expand the business to seek higher education and training programmes to young and
unemployed people.
 To move from face to face method communication to social media and information
technology.
 To expand their business to various segments of the market and reach large number of
young people by using Eclips and online games.
Project plan
6

Task Mode Task Name Duration Start Finish Predecessors Cost
Auto
Schedule
d
Generation of ideas 60 days Mon 03-
06-19
Fri 23-08-
19 $950.00
Auto
Schedule
d
Identifying needs of
the society 20 days Mon 03-
06-19
Fri 28-06-
19 $200.00
Auto
Schedule
d
Evaluating the
needs of the people 30 days Mon 01-
07-19
Fri 09-08-
19 2 $300.00
Auto
Schedule
d
Critically
identifying
unemployed and
needy people
40 days Mon 01-
07-19
Fri 23-08-
19 2 $450.00
Auto
Schedule
d
Selection of various
different activities 71 days Mon 26-
08-19
Mon 02-
12-19 1,3 $14,520.00
Auto
Schedule
d
Identifying society
to which charity is to
be served.
10 days Mon 26-
08-19
Fri 06-09-
19 4 $650.00
Auto
Schedule
d
Approach to various
young people 6 days Mon 26-
08-19
Mon 02-
09-19 4 $700.00
Auto
Schedule
d
Identifying the
needs of the young
people
30 days Mon 09-
09-19
Fri 18-10-
19 4,6 $850.00
Auto
Schedule
d
Analyzing the needs
of the young people 12 days Mon 09-
09-19
Tue 24-
09-19 6 $1,120.00
Auto
Schedule
d
Prioritizing the
different needs of
young people
30 days Tue 03-
09-19
Mon 14-
10-19 7 $1,200.00
Auto
Schedule
d
Critically analyzing
the problems 6 days Mon 21-
10-19
Mon 28-
10-19 7,8 $1,700.00
Auto
Schedule
d
Making strategies to
resolve such issue 3 days Mon 21-
10-19
Wed 23-
10-19 8,9 $1,800.00
Auto
Schedule
d
Comparing various
strategies and
methods
21 days Tue 15-
10-19
Tue 12-
11-19 10 $6,000.00
Auto
Schedule
d
Selection of the best
strategy which fulfill
the needs.
25 days Tue 29-
10-19
Mon 02-
12-19 11 $500.00
7

Auto
Schedule
d
Identifying effective
plans and strategies
to deliver the best
services
38 days Tue 03-
12-19
Thu 23-
01-20 5,12 $14,320.00
Auto
Schedule
d
Identifying various
technology which
helps in giving better
training and education
programme to young
people.
3 days Tue 03-
12-19
Thu 05-
12-19 13 $2,000.00
Auto
Schedule
d
Critically evaluating
the various effective
technology to provide
training to the
disadvantageous
people.
25 days Tue 03-
12-19
Mon 06-
01-20 14 $3,000.00
Auto
Schedule
d
Comparing and
evaluating different
technology.
20 days Fri 06-12-
19
Thu 02-
01-20 14,16 $4,000.00
Auto
Schedule
d
Selection of the best
technology with gives
higher results and
outcomes.
13 days Tue 07-
01-20
Thu 23-
01-20 17 $5,320.00
Auto
Schedule
d
Integration of social
media and
information
technology in project
52 days Fri 24-
01-20
Mon 06-
04-20 15,17 $7,900.00
Auto
Schedule
d
Formulating plan to
educate and train
young people through
social media and IT
tools.
12 days Fri 24-01-
20
Mon 10-
02-20 18 $6,500.00
Auto
Schedule
d
Identifying different
social media and IT
tools.
10 days Fri 24-01-
20
Thu 06-
02-20 19 $750.00
Auto
Schedule
d
Critically evaluating
and preparing plans to
integrate such IT tools
and social media in
the project.
40 days Tue 11-
02-20
Mon 06-
04-20 19,21 $650.00
Auto
Schedule
d
Systematic
implementation of
plans and guidelines
90 days Tue 07-
04-20
Mon 10-
08-20 20,23 $5,950.00
Auto
Schedule
Evaluating and
analyzing
30 days Tue 07-
04-20
Mon 18-
05-20
22 $1,800.00
8

d
employment and
higher education in
the country.
Auto
Schedule
d
Examining the nerd
for education and
training to young
people.
5 days Tue 07-
04-20
Mon 13-
04-20 23 $150.00
Auto
Schedule
d
Identifying the gap 60 days Tue 19-
05-20
Mon 10-
08-20 25,23 $1,500.00
Auto
Schedule
d
Giving proper
advice and guidance 24 days Tue 14-
04-20
Fri 15-05-
20 26 $2,500.00
Auto
Schedule
d
Controlling and
monitoring the
results and outcomes
69 days Tue 11-
08-20
Fri 13-11-
20 24,26 $3,900.00
Auto
Schedule
d
Analyzing the
project plan 12 days Tue 11-
08-20
Wed 26-
08-20 27 $3,000.00
Auto
Schedule
d
Identifying variance
in the plan 19 days Tue 11-
08-20
Fri 04-09-
20 28 $400.00
Auto
Schedule
d
Taking necessary
measures to control
the deviation
50 days Mon 07-
09-20
Fri 13-11-
20 30,31 $500.00
Auto
Schedule
d
Effectively
implementing
controlling policies,
plans and procedures
4 days Mon 16-
11-20
Thu 19-
11-20 29,32 $600.00
Gantt Chart:
9

Critical Path:
10

Key stakeholders
Name of
stakeholder
Impact Involvement in
the project
Interest in the
project
Blocking the
project
Local
community
High To effectively
utilize the
services and
educational
programs
provided by the
London Skills
Concern (LSC).
They focus on
gaining
knowledge and
insights from
various
educational and
training
programmes to
broaden the
knowledge and
skills (Eskerod
and Jepsen,
2016.).
Young people not
showing interest
and giving
negative feedback
for the same leads
to lower
operational
efficiency,
performance and
productivity of
the project.
Government
administration
and legal
authority
Medium They focus on
critically
analyzing the
impact of the
Government
administration
and legal
authority keeps a
Legal authority
imposing various
restrictions like
legality, political
11

charity on the
society. It also
focus on
analyzing the
laws, standards
and legislation
within which
London Skills
Concern (LSC)
must comply.
proper check on
the periodical
report and focus
on providing
additional
benefits for the
welfare of the
society and
economic growth
(Cuppen, 2016).
They provide
various tax
exemptions and
deductions for
higher growth
prospects of the
London Skills
Concern (LSC).
issues, taxation on
the working of
the organization.
Employees High They get indulged
in the project to
conduct various
activities and
make strategic
plan to attain
common goals
and objectives of
the company.
They are the one
who take
necessary action
to resolve any
issue and
identifying the
current economic
trends of the
society
(Hosseinichimeh
and et.al., 2017).
employees focus
on integrating
Employees not
giving proper
services to the
clients and
showing no
interest to carry
out the activities.
Employees not
integrating
modern tools and
technology for
higher results and
12

various social
media platforms,
digital
technology,
Eclips products
information
technology and
online games
(Andriof and
Waddock, 2017).
outcomes.
Donors and
investors
High To donate funds
and increase
capital of the
London Skills
Concern (LSC).
They help in
maintaining
financial stability
of the company to
reach common
goals and
objectives.
Donors and
investors helps in
funding the
operation of the
organization
(Paletto,
Hamunen and De
Meo, 2015). It
helps in building
effective financial
resources which
helps in building
effective assets
and resources to
fulfill the goals
and objectives of
the London Skills
Concern (LSC).
Donors and
investors focus on
developing the
Donors and
investors showing
no interest to
contribute
towards welfare
of the society.
13

welfare of the
society for
economic growth
and development
(Bourne, 2016).
Risk analysis
Risk
description
Impact Severity Responsibil
ity
Mitigation
action
Contingenc
y action
Progress
actions
Shortage of
funds and
capital.
It will have
very high
impact on
the
operation of
the London
Skills
Concern
(LSC).
These
organizatio
ns or
charitable
trust
completely
rely on
donations to
raise funds.
Inadequate
and
shortage of
Lack of
financial
resources
impose
major threat
on the
operation of
the
business. In
case of
shortage of
funds
managemen
t will not be
able to
inherit and
formulate
the plan in
an effective
and
efficient
Financial
manager
and the
project
manger
must focus
on
allocating
the
financial
resources
for the
company. It
must
properly
allocate
funds to
carry out
functions in
an orderly
manner.
Financial
manager
must focus
on
identifying
various
investors
and donors
to raise
more funds
to
effectively
carry put all
the
activities
which leads
to long term
sustainable
growth of
the
company
The
managemen
t must focus
on
maintaining
adequate
amount of
funds to
carry out all
the
activities of
the
organizatio
n smoothly
(Modarres,
Kaminskiy
and
Krivtsov,
2016).
This issue
can be
mitigated
within 6-7
days.
14

financial
resources
leads to
lower
operational
performanc
e and
productivity
.
manner. and
economy by
giving
young need
people
proper
education
and
training.
Injury and
accident
It will have
medium
impact on
the
operation of
the London
Skills
Concern
(LSC).
This will
impose
major risk
on the
organizatio
n and will
disturb the
smooth
functioning
of the
organizatio
n. It will
crease
chaos in the
organizatio
n which
affect the
operational
performanc
e of the
company.
Project
manger and
head of the
department
will be
responsible
to care of
such
accidental
events
(Aven,
2015).
The
supervisor
and the
manager of
the project
must focus
on taking
necessary
action like
first aid kit,
fire
extensions,
proper
safety tools
to mitigate
such risk on
timely
manner
with higher
operational
efficiency
and
The
managemen
t of the
organizatio
n must take
necessary
action and
provide
effective
medical
support
which leads
to higher
operational
standards
and smooth
functioning
of the
business.
This issue
can be
mitigated
immediatel
y as quickly
as possible.
15

standards.
Natural
calamity
It will have
very high
impact on
the
operation of
the London
Skills
Concern
(LSC).
Natural
disaster will
destroy the
property to
the large
extent. It
will have
severe
impact ion
the
organizatio
n which
leads to loss
of natural,
financial
and human
resource.
Project
manager
and event
manager
must be
responsible
to take
necessary
action to
protect the
organizatio
n from such
risk.
Proper tools
must be
used to
identify the
risk of
happening
of such
natural
calamities
(Kendrick,
2015). It
helps in
effectively
evaluating
the cause of
the disaster
and
necessary
measures
must be
taken to
resolve
further
issues.
Immediate
action must
be taken
and extra
fund must
be set aside
for such
contingency
events to
resolve the
issue ion a
timely and
systematic
manner
(Modarres,
2016).
This issue
can be
mitigated
within 15-
20 days to
recover the
loss due to
natural
calamities.
Loss of
personal
data
It will have
very high
impact on
the
operation of
Donors and
investors
making
payment
online can
Information
technology
team is
responsible
to privatize
The data
must be
protected
using
proper
The data
must be
encrypted
and the data
must not be
This issue
can be
mitigated
within 2 to
4 days.
16

the London
Skills
Concern
(LSC).
lead to
hacking and
breach of
personal
data which
leads to
major loss
for the
business.
the personal
information
of the
London
Skills
Concern
(LSC).
backup and
effective
information
technology
and
software to
keep the
personal
data private
(Larson and
Gray,
2017).
shared over
social
networking
sites and
phishing
emails
which can
be easily
hacked
(Cleden,
2017).
Proper use
of security
software
must be
integrated
into the
organizatio
n to protect
the personal
information
which is
crucial for
the
organizatio
n.
CONCLUSION
By analysing the above assignment, it can be summarized that project management is an
important procedure needed for the effective completion of project. There are various stages of
project management through which project manager can have an effective control over the
17

project. With the help of PID, overall team members and clients can be informed about each
essential element of project. This project will effectively highlight proper work down structure to
expand the business and give effective education and training programs to the young needy
people. Further, with the help of knowledge areas and stakeholders analysis, project managers
can develop effective plans and procedure for achievement of project aims and objectives. This
study will further highlight, risk attached to carry out the project plan with utmost accuracy and
efficiency.
18

REFERENCES
Books and Journals
Andriof, J. and Waddock, S., 2017. Unfolding stakeholder engagement. In Unfolding stakeholder
thinking (pp. 19-42). Routledge.
Aven, T., 2015. Risk analysis. John Wiley & Sons.
Bourne, L., 2016. Stakeholder relationship management: a maturity model for organisational
implementation. Routledge.
Cleden, D., 2017. Managing project uncertainty. Routledge.
Cuppen, E., 2016. 15 Stakeholder Analysis. Foresight in Organizations: Methods and Tools,
p.208.
Eskerod, P. and Jepsen, A.L., 2016. Project stakeholder management. Routledge.
Hosseinichimeh, N and et.al., 2017. A Stakeholder Analysis of Infant Mortality in Ohio: Key
Behaviors and Their Formulations.
Kendrick, T., 2015. Identifying and managing project risk: essential tools for failure-proofing
your project. Amacom.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Larson, E.W. and Gray, C.F., 2017. Project management: The managerial process. McGraw-Hill
Education.
Modarres, M., 2016. Risk analysis in engineering: techniques, tools, and trends. CRC press.
Modarres, M., Kaminskiy, M.P. and Krivtsov, V., 2016. Reliability engineering and risk
analysis: a practical guide. CRC press.
Nicholas, J. M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Paletto, A., Hamunen, K. and De Meo, I., 2015. Social network analysis to support stakeholder
analysis in participatory forest planning. Society & natural resources. 28(10). pp.1108-
1125.
Patanakul, P., 2015. Key attributes of effectiveness in managing project portfolio. International
Journal of Project Management.33(5). pp.1084-1097.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
19

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.
Online
Five Phases of the Project Management Lifecycle. 2019. [Online]. Available through :
<https://www.villanovau.com/resources/project-management/5-phases-project-
management-lifecycle/>
Project Definition – Characteristics of Project. 2016. [Online]. Available through :
<https://www.businessstudynotes.com/finance/project-management/project-definition-
characteristics-project/>
20