Key Factors for Winning a Project, Costing and Stakeholder Management

key factors to consider in winning the project?
The competitive market requires project managers to be fully aligned to the needs of
project sponsors.
1- Positioning: Understand and analyze the client as well as the competitive market
which you are competing against.
2- Compliance: Give all the information to the client and do not miss out on
anything.
3- Persuasion: Persuasion game much be very strong. Tell the client what they want
to hear.
4- Price: Give a reasonable price; do not try to be too frugal nor prodigal.
Discuss Costing .ensure that the project is profitable?
My preference to the costing methodology is to adopt costing data from the lessons learnt
and expert opinion, then calculate cost using PERT analysis. Applying PERT after taking
expert opinion or taking data from past estimates improves the process of estimation as the
variance in actual and forecasted cost is usually very minimum. Hence my preference is to
always combine PERT with Expert opinion or Past parametric data to ensure costing.
To determine profitability, I use capital budgeting techniques like NPV, ROI and Payback
period to ensure if project is profitable and in addition once I have done viable costing I
undertake earn value management to ensure project remains viable and profitable.
key stakeholders &discussed at project meetings?
The stake-holders of a project are the people who affect or can be affected by the outcome
or decision of that particular project.stakeholder of this project:
1) Project Sponsor (Flinders University)
2) Team Members (Project Team)
3) Project Costumer
4) Students
5) Senior Management (Flinders University management)
6) Subcontractor (Outsourced Part of Project)
7) People living in the nearby (Community)
8) Local Media
9) government
In the project meeting the main discussion was about the satisfaction of the students and
the faculty. The classrooms and the laboratory of the building should be very well designed.
The architecture and the design of the building should reflect the great institute of learning
and knowledge. The project should be cost-effective and it will not greatly affect the