Project Management: Assessment 1

This assessment discusses the project management plan, stakeholders concern, risk register, cost benefits analysis, time scale, and project execution challenges in the context of launching an event in a university.

Project management
Assessment 1

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Project management plan.................................................................................................................1
Stakeholders concern..................................................................................................................1
Risk register................................................................................................................................4
Cost benefits analysis..................................................................................................................6
Time scale...................................................................................................................................7
Project execution challenges.......................................................................................................9
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The project management is a process that is an application of different processes, skills,
knowledge, methods and the working experiences that assist to attain standardised goals and
objectives within the stipulated period of time. The project is based on the different practices as
like planning, execution, controlling, monitoring and implementation of various set of task and
activities with this the accomplish of target become more easier. The management of project is
completely dependent on the objectives and time line within which the overall strategy and
initiatives has been applied in systematic format (Bjorvatn, 2018). It is basically a process in
which all the team members put all its efforts so as to overcome from the primary challenges
within the specified constraints. The following report is based on the launching of an event in the
university so as to attract more of the students. The report include the risk factors, project time
line and stakeholder analysis. In addition include the cost and time benefits which is faced in
execution and associated with the challenges.
MAIN BODY
Project management plan
It is a plan that is formally represented in document formation as include all the different
undertaking that help to carry out a project by outlining goals, scope, budge, timeline and
deliverables of the project that is more essential to maintain the track record. The vital prospect
of the project is to attain all the goals with better efficiency as by managing and controlling the
association of cost along with complex situation also get deprived. The event is being based to
develop the technological advancement by which better image and value of university is
reflected within the market by which more of the new students are used to attract in systematic
way. There are different direction of project management plan and is as explained below as:
Stakeholders concern
These are those individuals or group of members those have some interest towards some
specified project and also have direct impact on the development and profit generation of
university and businesses (Brewer, 2018). They have affect the objectives, actions and policies
that is developed to make profit is specified manner. The stakeholder of universities are donors,
government, students, academic faculties those have always work for the betterment and
progress of university. The stakeholder analysis is also being more important and under this the
1

adequate designing of project is managed that is completely based on the set of actions that is
taken by the other universities. As from the analysis of stakeholder the interest level of all the
individuals is considered and the certain information is processed as accordingly. In context of
University of bath the stakeholders are as donors, teachers, students, directors and the other
institution as well that is directly associated with the success of university. The relationship and
the interest in between the different stakeholders are as described below as:
Stake
holder's
name
Reason stating their
Interest
Whether they are in or
against Against
What is done to
manage them
Students The students are always
shown better and higher
interest of them. As per the
conduction of event better
image and values of the
university is processed that
helps to attract more of the
customers and ability to
circulate more information
within the market also
enhances.
The technological
advancement is a project
that produces more
favourable endings for the
university by which prior
growth and development
is attained (Daniel,
2018).
The students of
University of bath gets
more benefits with the
completion of this
project.
Teachers The teachers also has higher
interest and with this make
more innovation and
creativeness within the
study material by which
easy studies are processed.
The new ways of teaching
is produced by which the
students also get attracted
towards the studies and
actively take part as well.
The teaching objectives
must be more clearer
with this more benefits
is attained that is linked
with the attractiveness
of more students.
Principal Principal of University of
bath has higher intensity
and have played better
responsibility under which
It is a responsibility of
principal and they have
also inclined towards
effective completion of
The proposed project is
constraints in front of
principal and
furthermore, they have
2

modifies all the changes
that helps to generate more
awareness within new
students. Thus tries to
convince and attract the
students by which they have
selected the university for
their studies.
project. make modification as
per the necessity.
Suppliers These are those individuals
who has received certain
payment from the university
in return of raw materials
(Farashah, 2019).
The suppliers shows more
concern and also shown
their favouritism within
the proposal of project.
The suppliers has
manage the
requirement of raw
material that are
supplied by them in
university by which
flexible advancement is
processed.
Contractors The contractors shows
higher interest and with this
takes more commission as
per the furnished services.
They has always shown
their interest towards the
project management.
They have worked to
develop more chances
as by providing better
surround to the
university.
Government It is basically the source of
income that is received by
the government as from the
fair that is provided by the
university in terms of tax
rates.
The government shows
more interest as they have
gain much amount of
profit not only in terms of
revenue but also get the
higher skilled and
talented youth that make
positive change in
society.
The government has
collect all the required
information that is
based on the project as
under this educational
benefits are developed
that are in favour of
students growth.
3

Resource
Managers
The resource manager
ensure that better quality
input is processed within
the university. In this the
technological advancement
and improvement is
processed with better
perfection.
It provide more support to
the university and with
this higher studies are
promoted that also assist
better advancements.
It is managed within
the parallel connection
in between the manager
and university as with
the support of
interpersonal and
communication skills
(Heldman, 2018).
Risk register
It is a technique that used to maintain overall record of the document and parallel all the
different associated risk are considerate by effective management. In University of bath the
registration of risk is used to measure the better assessment by which meeting of objectives and
goals become more flexible.
Risk Risk Level(L/M/H) Likelihood of
events
Mitigation strategy
Financial risk: It is a risk
that is based on the
generation of appropriate
fund that is used to conduct
the event for the
technological advancement
of university (Kerzner,
2018). To proposed an event
different resources and
inputs are required that
provide benefits in
organised form.
Medium The functioning of
this event is
possible.
The management
department of
University of bath has
shows more concern
thus put all the effort
so as to achieve the
requirement and
objectives of project.
Time scale of project-It
defines the associated time
High It has higher To manage the risk
management
4

period that is used to
manage the standardised
changes by which organised
outcomes are conceived as
from the completion of
project.
certainty. University of bath
develop the strategic
planning and takes
simultaneous actions to
achieve success on
continuous period of
instance.
Unrealistic estimation of
cost: It is linked with the
amount that is usually
consumed within the project
processing.
Low It is improbable To get manage or dealt
with risk University of
bath ensure that they
have followed the
planning under which
supportive alternatives
also considerate and it
is done by conducting
meeting by which
significant profit is
attained (Kerzner,
2019).
Availability of project team:
It is based on the employees
those are highly skilled and
talented by which the target
is accomplish with more
effectiveness. The
technological advancement
in University of bath upraise
its quality and working
efficiency.
Medium It could be
possible.
To dealt with this risk,
University of bath has
monitor and analyse
the working
performance in
repetitive mode by
which better
opportunities are
developed in effectual
manner.
5

Technical risk: It is risk
that is faced by University
of bath while executing
process of advancement
(LARSON, 2018).
Medium Liable
thoroughbred
This could be managed
by working with the
additional equipments
that is used as a
supportive of repaired
equipments.
Cost benefits analysis
It is a process in which the university takes some decisions under which different values
and intangible benefits are enhanced. It is been used by University of bath so as to make better
analysis of the different set of actions those are associated with the cost and its benefits.
Cost analysis
University of bath has maintained the analysis of cost and in this allocate the costing into
the different components.
Cost Amount
Research and development 15000£
Marketing cost 8000£
Technological cost 13000£
Event host cost 15000£
Total 45000£
To measure the different benefits of the project University of bath has followed certain
steps that assist to analyse the benefits that is as explained below as:
Distinguishing benefits: The University of bath has trying to measure the different
benefits that is attained by the completion of technological advancement. The event brings more
positive aspect for the university and that has better impact on the image by which more of the
admissions are taken as per other universities (Lee, 2018). All the universities has tried their best
so as to attract more of the students by which better and long term sustainability is attained for
given instance. The event provide the prominent output as by rousting the higher amount of
6

donations that all collectively helps the university to maintain higher rank within all the certified
universities.
Execute welfare: It has been executed as after the determination of different benefits and
in this more of the profits is gathered as by following the strategic planning. University of bath
also develop action plan that is as define below as:
 To gain certain benefits as per the event project more of the values are analysed that
induces efficient benefits for University of bath.
 University of bath uses the key performance indicator by which they have measure the
success and growth rate in appropriate manner so that more effective output is developed.
 The communication plan is designed by University of bath that aid to manage the
opportunities in formalised way that aid to take more managerial profits.
Prolong performance: It is an aspect that is related to the before ending process in
which University of bath has analyse the amount and intensity of deliverables that is assessed by
the university and aid to make continuous improvements.
Time scale
It is referred to the time scaling in which the University of bath has take some benefits as
per the completion of project (Lock, 2020). In this the management department take an initiative
to form the project of 22 days and to plan the overall project 40 days are taken while in the
execution stage 60 days are consumed. On the other hand in the second phase of project 25 days
are associated within the execution and 32 days to control the process while 10 days for the final
closing or ending of project.
Work Break down structure: It is a structure in which the project deliverables is being
managed that is used to divide the overall task into the different slots and that all the
interdependent to each others.
Gantt Chart: It is a chart in which the graphical formulation is attained in which all the
associated task and activities are scheduled in appropriate manner. In this the timely changes is
processed in which different activities is considerate is efficient manner and it is attain
favourable outcome as from the completion of project.
7

8

Project execution challenges
The execution of challenges helps to measure and analyse various difficulties that
changes the amount of quality which is pertained by the completion of project. In this university
has gain more delay while competing the standardised target of project. The execution of
technological advancement and its processing has been balanced out by the project manager of
University of bath as they have maintain clear focus on the achievement of desirable profit.
There are few issues that is faced by project management department as the finding of different
individuals that are having suitable skills and talent (Rowe, 2020). In this the effective leadership
skills are used to make improvised changes by which overall working performance is developed.
It helps to complete the project in timely basis by which accomplishment of target and goal
become more flexible. Below are some problems that are faced by the university as per the
execution of project and it is as described as: Resource conflicts: It is developed as per the unavailability of required resources that
course delay in the project processing. In this to manage the effectiveness it is required
that work is assigned to different team members by which all the needed information
about the deficiency and requirement of resources is addressed along with this task is
completed in timely manner. Ineffective communication which can lead to conflicts: It is more essential that all the
information is processed in clear and transparent way. In this the flow of information is
managed in efficient way by which result is achieved in desirable way. The ineffective
communication also lead to generate more conflicts by which misunderstanding in the
team members also increases that make more delay.
 No accountability: It is necessary that certain set of actions are taken by the project
manager in order to enhance liability and durability of project (Akkermans, 2020). It aid
to enhance the productivity and profitability of the business in adequate way.
9

 Increased dependency among team members: To complete the task in effectual mode it
is required that work is divided into the different teams. It is done as by taking effective
decision-making by which rate of achievement also get affected. As more the team
members get dependent on each other that more efficient their working is by which
ability to complete the project is enhanced. Difficulty in decision-making: The decision-making is most impactful aspect for the
project completion by which different conflicts is managed that is associated in between
the team members on random basis (Brewer, 2018). For this university tries to engage the
members by which they have shared their views and relative information by which
improvised endings is perceived.
 Placement of projects and its business objectives: It is an issue in which it is not easy for
the university to manage the working objectives of the project as it get disbursed as per
the parallel interference of different other components. It is required to vanish as with this
all the team members are motivated and have worked with better sufficiency.
10

CONCLUSION
It has been concluded from the above report that project management is being used to
manage and control the success and development of certain project. The management of project
is based on the strategic planning through which estimated changes is processed in timely
manner. In addition to this to manage the project different components must get considerate as
like stakeholder analysis, risk register, cost estimation and execution challenges through which
perfect balance is maintained while monitoring all the different stages of project.
11

REFERENCES
Books and Journals
Akkermans and et. al., 2020. Crafting project managers’ careers: Integrating the fields of careers
and project management. Project management journal. 51(2). pp.135-153.
Bjorvatn, T. and Wald, A., 2018. Project complexity and team-level absorptive capacity as
drivers of project management performance. International Journal of Project
Management. 36(6). pp.876-888.
Brewer, J.L. and Dittman, K.C., 2018. Methods of IT project management. Purdue University
Press.
Daniel, P.A. and Daniel, C., 2018. Complexity, uncertainty and mental models: From a paradigm
of regulation to a paradigm of emergence in project management. International journal
of project management. 36(1). pp.184-197.
Farashah, A.D., Thomas, J. and Blomquist, T., 2019. Exploring the value of project management
certification in selection and recruiting. International Journal of Project Management.
37(1). pp.14-26.
Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley &
Sons.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project
management. John Wiley & Sons.
LARSON, E.W. and GRAY, C.F., 2018. Project management: the managerial process.
McGraw-Hill.
Lee, C.Y. And et. al., 2018. Critical review of social network analysis applications in complex
project management. Journal of Management in Engineering. 34(2). p.04017061.
Lock, D., 2020. Project management. Routledge.
Rowe, S.F., 2020. Project management for small projects. Berrett-Koehler Publishers.
12