Project Management: Budget, Timescales, Objectives, Key Staff, Stakeholder Analysis

This document provides insights into project management, including budgetary information, timescales, objectives, key staff, and stakeholder analysis. It also discusses the importance of leadership skills in project management.

Project Management

Table of Contents
INTRODUCTION...........................................................................................................................3
Budgetary information ...........................................................................................................3
Timescales .............................................................................................................................3
Objectives ..............................................................................................................................3
Key staff.................................................................................................................................3
Stakeholder analysis ..............................................................................................................3
Work Breakdown Structure ...................................................................................................5
Gantt Chart ............................................................................................................................6
Risk Register .........................................................................................................................8
Report to the Sponsor, Director of operations .....................................................................12
A. Need for quality leadership on the project ......................................................................12
Comparison of PRINCE2, Agile and waterfall methodologies ...........................................13
Reference.......................................................................................................................................14

INTRODUCTION
Project management plan is defined as structure for the processing of assigning an order
for important parts that are involved in the plan. The main objective of project development plan
is to estimate the outcomes of projects. This helps in knowing how a successful outcome can be
achieved and who will be involved in the project (Drury-Grogan, 2016). This also helps in
measuring how project is done and communicated. The project management plan is known as
blueprint for analysing the steps and activities involved in accomplishing project activities. The
following report includes budgetary information about the event management. This includes
timescale, objectives, approaches, key staff and shareholder analysis.
Budgetary information
The budget for renovating laboratories and computer rooms of this organisation is
approximately £50,000. There are different activities in this project which helps in renovating
this university and providing excellent level of knowledge to students.
Timescales
The timescale required for completing this project will be approximately 6 months. After
the renovation of computer laboratories, there is need for providing new technology knowledge
to students as well as staff members.
Objectives
The objectives of this project are given below -
 To maximise the student outcome by providing them ways of learning
 To enhance the effectiveness of this university by using new technology laboratories
Key staff
The director of this university is responsible for making decision related to this project.
The key members hired for this project are event management expertise. These will help in
managing the tasks and activities involved in increasing the level of technology of work within
the university.
Stakeholder analysis
In an organisational project, there are many people involved in completing the project
work. This includes internal people and teams who are involved in project completion. This also

includes people who are involved while doing project work. A stakeholder analysis is defined as
a process for identifying these individuals before the starting of project. This includes grouping
of project according to the level of participation, interest and influence in the project. This
determines how best to involve and communicate every stakeholder for grouping throughout.
Stakeholders are the key players of a project. They are the people who are directly affected by
the activities and tasks of the project. This is an easiest way for managing project tactics and
strategy. Successful projects knows who are the stakeholders of successful projects and what are
the ways for motivating them. Stakeholders are identifies and analysed before the stakeholders
are identified. It is easy to look a small stakeholder who has the ability to derail the project. A
stakeholder register is prepared for developing and updating regularly activities and tasks
involved in doing projects. Following is the quick checklist that helps in identifying project
stakeholders. The different stakeholders in accomplishing of a project are listed below -
 Executives are stakeholders from the parent level organization, including the power
sponsor. Customers pay for the product or service (the deliverables) the project produces.
 The Project Team produces those products and services
 Technical / Department managers provide expert advice and resources to the project
 Lenders, creditors, and investors provide financing to the project
 Suppliers provide external products and services
 Governments produce regulations the project must abide by, and issue permits and
approvals
 Local committees and boards approve the project’s deliverables
 Unions negotiate for better working conditions and pay for the project team.
In the given case of QA Higher education, it has just refurbished the teaching rooms and
computer laboratories in London, Birmingham and Manchester. This is to help students and staff
to have an excellent learning environment and accessing the latest technology for supporting
their studies and teaching. The stakeholder analysis in this context is given below - Students – The students and staff of this university are directly affected by the way in
which this project is accomplished. The increase in technology and advancement of
knowledge helps them to learn new things (Svejvig, and Andersen, 2015). The students
of this university are able to do work effectively and manage different tasks and
activities.

 Staff members - The staff members and teachers of this university are affected if they
are getting new technology. The renovation of laboratories and infrastructure provides a
new and good environment for teachers to work. This is an opportunity for teachers to
use this type of technology and utilise the resources in an appropriate manner. By this
technological advancement, the university is able to increase the satisfaction level of staff
and teachers. Customers – These are people across the world who can use the facilities and offerings of
this university. These are main stakeholders on which revenue of this organisation
depends. It is responsibility of this university to provide effective services to customers. Community - In context of communities, it is analysed that when knowledge is provided
to students, they are able to make talented and skilled employees of future. Thus, this will
help in development of economy. This directly contributes to economic growth.
 Government - This is another stakeholder which is stakeholder group that is affected by
the activities and tasks of the organisation. This university is enhancing it's knowledge
level by providing high technology knowledge and skills to students. More number of
students will take admission in this university as it is providing good education (Layton,
and Ostermiller, 2017). In this way, there is increase in tax generated for the
government.
Work Breakdown Structure
A work breakdown structure is developed for establishing a common understanding a
project scope. This is known as hierarchical description of the work which is done for
completing the deliverables of the project. The first two levels of the WBS define set of planned
results which collectively and exclusively explain the scope of project. At every subsequent
level, there are nodes and parent nodes which collectively represent scope of project. The criteria
to be ensured for minimising risk of failure of the project is analysed. By having relevant data
from all parties including planner and implementers should be in agreement as what is to be
expected from Work breakdown structure. The criteria for measuring the presence of WBS are
mentioned below -
 All tasks and activities must be clearly defined and there must be relevant start date and
end date.
 Work description and work break down structure must be easily understood.

 All tasks must be usable as communication tools in which results are used for comparing
with expectations
 The elements of WBS must be structured in a way that minimum project office control
and documentation is required.
The WBS for the project is represented by the following structure. The various activities
involved in WBS are planning and programming, architect and engineering design fees, costing
of computer laboratory, construction costs, furniture, fixtures and equipments, financing costs,
etc (Hopkinson, 2017). The project manager has to develop a good planning so that event is
organised effectively and for doing so different activities are present which includes formal
ceremony, informal opportunity for staff and students to get tours of the building, celebratory
elements including food and drink, invitations to local/national dignitaries, etc.
Gantt Chart
This is defined as the breaking of activities of project and assigning particular time that is
used for completing those tasks and activities. It is the timescale of a project. The top of the chart
defines time frame and the left side of the chart demonstrates the activities and tasks of project.
Gantt chart can be helpful visual for including in project management plans. The time required
for completing this project is 6 months.

Risk Register
Risk
description
Lik
elih
ood
of
the
risk
occ
urri
ng
Impa
ct if
the
risk
occur
s
Severi
ty
Ratin
g
based
on
impac
t and
likelih
ood
Owner
Person who
will manage
the risk
Mitigating
action
Contingent
action
Progress
on
action
Project purpose
and need is not
well defined
Med
ium
High High Project
Sponsor
Complete the
business case
if not provided
and ensure
purpose is
well defined
project charter
(Andersen,
E.S., 2016).
Escalate to the
project board
with an
assessment of
the risk of
runaway costs.
The
Project is
re
written.
Project design
and deliverable
definition is
incomplete
Low High High Project
Sponsor
Scope is
defined in
detail through
design
workshops
with input
from subject
matter experts.
Document
assumptions
made and
associated
risks. Request
high risk items
that are ill
defined are
removed from
Design
worksho
ps
schedule
d

scope.
Project
schedule is not
clearly defined
or understood
Low Medi
um
Mediu
m
Project
manager
Hold
scheduling
workshops
with the
project team
so they
understand the
plan and
likelihood of
missed tasks is
reduced.
Sharing the
plan and go
through
upcoming
tasks at each
week project
progress
meeting.
Worksho
ps
schedule
d
No control over
staff priorities
Med
ium
Medi
um
Mediu
m
Project
manager
The sponsor
will brief the
team managers
on the
importance of
the project.
The final dates
of project
completion
must be
discussed with
the project
team mates so
that work will
be done in
specified time
frame.
Escalate to the
project sponsor
and bring in
back up
resource.
Business
case re
written
with
clear
deliverab
les and
submitte
d to the
project
board for
approval.

Consultant or
contractor
delays
Med
ium
High High Project
manager
Include late
penalties in
contracts.
Build and
protect lead
time in the
schedule and
communicate
schedule in
effective
manner.
Escalate to the
project sponsor
and contracts
manager.
Implement late
clauses
Designin
g
worksho
ps.
Estimating or
scheduling
errors
Med
ium
High High Project
manager
Breaking of
two risks cost
estimating and
scheduling
errors and
using these
methods of
cost
estimation,
and carefully
track costs and
forecast cost at
completion
making
adjustments.
Escalate to the
project sponsor
and project
board. Raise
change request
for change to
budget or
schedule. Pull
down
contingency
Worksho
ps
schedule
d.
Lack of
communication
that causes lack
of clarity and
Med
ium
Medi
um
Mediu
m
Project
manager
Write the
communicatio
n plan that
includes
Correct
misunderstandi
ngs
immediately
Commun
ication
plan in
progress

confusion frequency,
goal and
audience of
each
communicatio
n. Identify
stakeholders
early and
ensure they
are considered
the
communicatio
n plan.
Appropriate
channel must
be used for
audiences.
and clarify
areas which are
not clear
swiftly using
assistance from
project sponsor
whenever
required.
Stakeholder
action delays
project
Low High High Project
manager
Identify
stakeholders,
analyse power
and influence
and create a
stakeholder
engagement
plan. Project
Board to
authorise the
plan. Revisit
the plan at
regular
intervals to
Notify
appropriate
authorities and
follow internal
procedures e.g.
for activist
demonstrations
.
Stakehol
der
analysis
in
progress.

check all
stakeholders
are managed.
Consider
getting
insurance.
Report to the Sponsor, Director of operations
The different activities are needed to be performed for completing this project. The
school is planning to have a major launch event to publicise this. This university wants to
celebrate the success of the project. The project manager of this event scheduled to take place
during Freshers’ Week in January 2020. AN effective plan is made for ensuring that project is
accomplished effectively. These are according to the calendar of events and includes formal
ceremony, informal opportunity for staff and students to get tours of the building, celebratory
elements including food and drink, invitations to local/national dignitaries.
A. Need for quality leadership on the project
Developing leadership skills is important for project management because overall success
of project is determined by the leaders. Project managers or leaders oversee projects and make
critical decisions which can lead to failure or success (Serra, and Kunc, 2015). The different
leadership skills required for having a good project are effective communication, sharing a
vision, planning, honesty, flexibility, management and decision making. An effective
communication skill is important for the project manager to possess as it will help in
communicating with a wide range of people within the organisation and outside the organisation.
The project managers of the school project need to clearly communicate the vision, goals,
objectives and guidelines for people of different levels. Project managers must develop excellent
management skills because they are responsible for managing different aspects of progress of
projects. Successful leaders must be able to communicate the vision and mission of project in
effective manner. Honesty is another leadership skill that is needed for project managers to
develop for promoting trust among the clients and team members. The leaders of the project are
responsible for planning and managing the entire project. The managers must be flexible as

needs of project can change at any time. If there is no effective leadership then project activities
and tasks are not completed in right time. A good leader knows how to manage time and they
can easily solve conflicts and fights that occur while working for accomplishing project
activities.
Comparison of PRINCE2, Agile and waterfall methodologies
A project management methodology is defined as step by step method for managing project
activities. The different type of methodologies are PRINCE 2, Agile and Waterfall methodology.
Prince 2 is a project management methodology while waterfall and agile are
development approaches each with principles, processes and themes. By doing this, project
manager has a proven framework, guiding principles and standardised templates.
Agile development approach is used as there is more efficiency due to presence of software. By
suing the agile approach, companies are able to transform processes completely and change the
way teams viewed project management.
Advantage – It includes customers at every stage of development. Users can constantly
provide feedback on working software. In this way, project is accomplished in effective manner.
This approach also delivers working software more quickly to the customers, making it ideal for
projects in which speed is of the essence (Fleming, 2019). Another advantage in agile is the
concept of continuous improvement and focusses on reducing wastage.
Waterfall development project follows a traditional and linear approach,. The first thing is
gathering requirements, that is generally an extensive process as developers do not produce
working software for customers for trying out in middle of the project. When team understands
the project then software is developed which is according to the plan that results in actual
development process.
Advantages – By focusing on speed, waterfall is well suited to projects that re not urgent.
Strict linear process means project is likely to be finished within time.

Reference
Books & Journals
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management, 33(2), pp.278-290.
Layton, M.C. and Ostermiller, S.J., 2017. Agile project management for dummies. John Wiley &
Sons.
Hopkinson, M., 2017. The project risk maturity model: Measuring and improving risk
management capability. Routledge.
Andersen, E.S., 2016. Do project managers have different perspectives on project
management?. International Journal of Project Management, 34(1), pp.58-65.
Serra, C.E.M. and Kunc, M., 2015. Benefits realisation management and its influence on project
success and on the execution of business strategies. International Journal of Project
Management, 33(1), pp.53-66.
Fleming, Q.W., 2019, January. Project procurement management: contracting, subcontracting,
teaming. Project Management Institute.
Drury-Grogan, M.L., 2016. Agile Cognition: Discovering the Cognitive Artifacts Used for
Project Management in Agile Software Development.
Harris, E., 2017. Strategic project risk appraisal and management. Routledge.
Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International
Journal of Project Management, 33(1), pp.41-52.
Sanchez, O.P. and Terlizzi, M.A., 2017. Cost and time project management success factors for
information systems development projects. International Journal of Project
Management, 35(8), pp.1608-1626.