Project Management Report: Project Initiation and Risk Assessment

This project management report provides a comprehensive overview of the project lifecycle, focusing on the redevelopment and refurbishment of university space. The report begins with an introduction to project management principles and methodologies, emphasizing the importance of structured processes for successful project completion. Project 1 details the creation of a Project Initiation Document (PID) outlining project objectives, approach, key staff, stakeholder analysis, and budgetary information. It also covers the Work Breakdown Structure (WBS) and critical path analysis to manage tasks effectively. Project 2 delves into risk management through a risk register, detailing various types of risks, their likelihood, mitigation strategies, and responsible parties. The report highlights the crucial role of the risk register in a risk management plan, providing guidance and proactive solutions for potential challenges. The report concludes with a discussion of communication processes and the evaluation of project management methodologies. The agile methodology is adopted. Overall, the report demonstrates a practical application of project management concepts to ensure efficient and effective project delivery, incorporating essential elements like stakeholder management, risk assessment, and detailed planning.

PROJECT MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT 1......................................................................................................................................3
Project Initiation Document (PID)..............................................................................................3
Work breakdown structure..........................................................................................................9
PROJECT 2....................................................................................................................................10
A. Risk register.........................................................................................................................10
B. Ways in which risk register makes a crucial part in risk management plan.........................14
C. Report...................................................................................................................................15
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Project management is a concept which includes the different process, knowledge, skills,
attributes and all other activities which are necessary for completion of objectives of project. The
project management is a concept which states that there are different steps for the completion of
project in successful manner. If the project need to be completed in successful and effective
manner, then manager has to follow all the stages of project management (Yap, Abdul-Rahman
and Chen, 2017). The present report is based on the project of developing the space available for
the redevelopment and refurbishment. The current report will include the development of PID
that is project initiation document along with the work breakdown structure. Further the different
types of risk governing the project will be outlined under the risk register. In the end the
communication process and the critical evaluation of different methodologies of project
management will take place.
PROJECT 1
Project Initiation Document (PID)
The project initiation document is a type of document which includes the brief overview
of the whole project. This includes different aspect like the scope and objective of project, time
taken for project, cost involved in project, key people and stakeholder involved in project and
many other related aspects.
Objectives
The objectives of the project are as follows-
 To improve the space which is available for student and to redevelop and refurbish it for
developing better teaching space.
 To try to develop the good teaching space by utilising the empty space so that it can
attract more of student.
 To develop tiered seating arrangement along with the acoustic panels over the walls to
make it attractive for the students.
Approach
The approach used for the management of project of redeveloping spaces within the
university is agile approach. The major reason for the use of Agile methodology is that this is

best process for managing the project (Trott, 2019). There are many different values and
principles attached with agile methodology like accommodating changing requirement, enable
face- to- face interaction, support, trust, and motivating the people and many other values which
are catered by this methodology.
Key staff
There are many people involved at time of managing the project as without people the
project cannot be completed as staff works on the project in order to attain the aim and objective
of project. The major staff for the project of redevelopment and refurbishment of empty space
are project manager, investors, team leaders, team members, resource allocator and all other
people related with completion of the project.
Stakeholder analysis
The stakeholders are the people who are interested in the working and successful
completion of the project. This is essential as if stakeholder will not be happy and satisfied then
this will decrease interest of stakeholder within the project and they will not work in proper and
effective manner.
Stakeholders Significance
Students This is the major stakeholder within the project as they will be
benefitted the most by the completion of this project. The major
reason is that if empty space will be utilised in proper and effective
manner then this will increase their interest in learning with the
university
Project Manager This is another stakeholder who is responsible for managing whole
project from initiation till the completion of the project. The manager
is significant stakeholder as this is the person who takes decision for
each and every activity for completion of the project (Suetin and
et.al., 2016).
Project sponsor This in addition to the manager is also a main stakeholder as if
finance will not be provided then project will not be completed in
proper and effective manner. Hence, finance is the most important
thing for completion of the project of redeveloping and refurbishing

the space.
Resource allocator This is also an important stakeholder who is responsible for
optimally using the resources so that it yields the maximum output
(Smit and et.al., 2017).
Project Team Member These are the stakeholder who actually undertakes the work as
directed by the project manager. These are the people who actually
perform task for the development of empty space into a good
teaching space.
Budgetary information
This is the most important thing in the management of project as without finance the
work cannot be completed. For the redeveloping and refurbishing the empty space will include
the following budget-
Expenses Amount
Cost of managing resources £8,000
Labour cost £15000
Material cost £15000
Salaries of staff £15000
Cost of management £10000
Equipment cost £22000
Overhead cost £15000
Total £100000
Timescales

Work breakdown structure
The work breakdown structure is helpful in managing the task which are in the project
completion. The major reason for this is that when the project manager has a WBS then they can
see that which activity need to be completed before the ending of which activity (Shavaliev and
Puryaev, 2018). This also assist the project manager in developing an idea or estimate relating to

the risk, cost, time and other aspect related with the accomplishment of the project in successful
manner.
On the flip side the critical path analysis is also very important for project manager to
check. The major reason underlying this fact is that for completion of single activity there are
many different ways which can be adopted but cost and time associated with them is different
(Ou-Yang and Chen, 2017). Thus, critical path method is used by manager in order to see that
which is the shortest path through which project can be completed.
PROJECT 2
A. Risk register
Types of
risk
Responsib
le person
Pre action Post action Scores
(1-5)
1-high
5- least
effective
Likelihood Mitigation strategy
Managem
ent risk
Manager
of project
is
responsibl
e
Doing
proper and
effective
planning
before
implement
ation
Checking
that all
planned
activities
are
implement
ed in
proper and
effective
manner or
not
3 Moderate If any issues relating
management will take
place, then this will be
mitigating by using
tool of comparing
standard against the
actual work. This will
assist manager in
identifying the
deviation among the
planned performance
and actual
performance.
Cost risk Project
manager
Pre- action
will be to
analyse all
After the
identificati
on of risk
2 High The mitigating action
is to properly monitor
all the activities under

the areas
in which
cost is
being
levied.
manager
must take
measure
for
minimizin
g the cost
or arrange
for finance
to pay the
cost.
project management to
take a detail analysis
of all cost of activities
(Naik and Jenkins,
2019).
Risk of
supply
chain
Operation
al manager
The pre-
action is to
do market
research
for the
various
sources
where raw
material
can be
arranged
The post-
action will
be review
that
whether
the raw
material is
being
taken at
proper
cost or not
4 Low For managing this the
mitigating action is to
ensure that time to
time the operational
team regularly check
the availability of the
raw material and will
include checking of all
suppliers.
Strategic
risk
Staff
members
and
project
manager
The pre-
action will
be develop
strategy by
analysing
the
objective
of project.
The post-
action is to
analyse
the fact
that
whether
strategy is
assistive in
attaining
4 Low The mitigating action
will be to revise the
strategy and the
objectives so that
strategy can be
implemented in
effective manner.

the
objective.
Risk of
managing
time
Project
team
members
The pre-
action will
be to set a
standard
time for
all
activities
of project
The post-
action will
be to
review the
reason for
the delay
and try to
avoid it.
3 Medium The mitigating action
will be to set the
standard high like is an
activity has deadline of
5 days then team
members must be
given only 4 days so
that 1 day is there for
rechecking (Morgan,
2018).
Operation
al risk
Operation
al manager
and
project
manager
The pre-
action will
be to do
effective
planning
for all
operationa
l activities.
The post-
action will
be check
for the
reason for
deviation
among the
planned
and actual
performan
ce.
2 High The mitigating action
will be to divide each
and every task to the
employees on basis of
their specialization.
Human
Resource
risk
Project
manager
Pre- action
is to hire
team
members
who are
skilled and
capable of
The post-
action will
be to have
alternative
available
if the
person is
2 High The mitigating action
is to have an alternate
for each and every
person working in
project management
team.