Project Management: Key Concepts and Approach

This assignment discusses the importance of project management in making a project successful. It highlights the contribution of stakeholders and the use of work breakdown structure to simplify tasks. The PRINCE2 approach is also discussed as a way to divide complex tasks into smaller parts.

Project Management

EXECUTIVE SUMMARY
The following report covers the making of Project Initiation Document which is helpful
for outlining various aspects of a project. Stakeholder Analysis, PRINCE2 Approach, Waterfall,
and Agile Approach is also used in this report. The analysis is done by making use of stakeholder
analysis approach and the other used in this report is Work Break Down Structure and the Gantt
Chart. It is clear fro the report that Project Initiation Document is essential to check about the
project's success. Stakeholder Analysis is used for making an understanding about the need and
expectations of the stakeholders. It is concluded that these all analysis are essential for the
successful accomplishment of the project.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
TASK 1 PROJECT INITIATION DOCUMENT.......................................................................2
TASK 2 WORK BREAKDOWN STRUCTURE AND GANTT CHART................................6
TASK 3) RISK REGISTER........................................................................................................7
TASK 4 REPORT TO THE PROJECT SPONSOR...................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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INTRODUCTION
Project Management can be defined as the method which is used in order to organise all
activities related to the project and its parts (Burke, 2013). QA Higher Education (QAHE) is a
college in London which has completed the refurbishment of college for providing both the
students and teachers a good learning environment. In the following assignment, firstly the
project initiation document will be prepared which will contain many data regarding the project.
Work Break Down Structure is also provided in the assignment for simplifying the process of
dividing the work into small parts. Risk Register and Report will show about the risks included
with project and the report will focus on the leadership quality in Project Manager.
MAIN BODY
TASK 1 PROJECT INITIATION DOCUMENT
It is a document which is used for the purpose of bringing together and conveying all the
key information needed to start a project to all concerned people.
Budgetary Information
In this Project, there are many tasks for which it needs amount to be invested in it such as
for purchasing raw materials, purchasing resources, wages, salaries, commissions to the
employees and managers or contractors. The Estimated amount in the Budget is £ 50,000.
Time Scales
The complete process of refurbishment is divided into many parts and the time limit for
the completion of all tasks has been set up. On the very basis, the estimated Time Period for the
completion of the Project is 6 Months.
Objectives
 Accessing latest Technology to support Education and Learning.
 Attracting Students from Diverse places.
 Providing Excellent Learning Environment.
Approach
The approach used by the institution in completing this project is PRINCE2 Approach
because it is adjustable, time efficient, cost efficient and helps in achieving goals and manage
project effectively.
Key Staff
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 Employees
 Project Manager
 Labours
 Contractors
 Project Sponsor
 Project Team Member
 Business Analyst
Stakeholder Analysis
Stakeholders are those persons who have their own particular interest in the success of
some project which is carried out by some organisation, institution. So for analysing the their
interest, their favours and how their interest is managed is done by using the Stakeholder
Analysis (Kerzner and Kerzner, 2017). It is an important process which refers to the range of
techniques or tools to identify and understand the needs and expectations that the stakeholders
does have in an organisation or institution. Stakeholders of QA Higher Education (QAHE)
College are students, teachers, principal, teammates, contractors,, labours, suppliers,
governments, resource managers are the stakeholders of the institution which are having their
own particular interest in the project carried out by the company. The discussion of their interest,
favour, and how the relationship in between them are discussed as under:
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Name of the
Stakeholders
Reason Stating their
Interest
Whether they are In
or Against you
What is done to
Manage Them
Students Students are interested
as the completion of
this project will
provide them better
ways of learning, and
will get a better
learning environment.
As this project is in
favour and concern of
the students so they
are in with the project
manager (Kerzner,
2017) .
They are provided
with the key benefits
of the project which
they will have by
making the changes in
the way of learning.
Teachers They are interested as
they will also get
better working
environment than
before which will
motivate them to teach
students in more
effective way and with
full interest.
The teachers are also
in the favour of the
project as they are also
getting benefit from
the project.
They are also provided
with the changes
which will be made
and benefits which
they will have once the
project is completed
such as technical
advancements will
lead to better way of
providing teaching to
students.
Principal The Principal is
interested because it
will increase the
reputation and attract
new students to the
college.
Principal of the
Institution is also in
the favour of the
project.
For managing the
interest of Principal,
all the plans and
actions related to the
development of the
project is provided to
him and as per his
opinions, the progress
in the project has been
made.
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Teammates They are interested as
with this their skills,
knowledge and
experience will be
enhanced which will
help in their personal
and professional
development. They
will also get the pay
for their work.
Employees,
technicians, architect
all are included in the
teammates.
They are also in favour
of the project as it will
also provide benefits
to them in future such
as increase in their
own personal skills
and knowledge about
the particular task they
are doing (Marcelino-
Sádaba, González-
Jaen, and Pérez-
Ezcurdia, 2015) .
The are managed by
telling if they perform
well in the work
provided, than it will
increase their future
opportunities related to
the work.
Suppliers They are interested as
they will receive
payment for the raw
materials supplier by
him, as a source of his
income.
They are also in favour
of this project as the
requirements of
materials will be
fulfilled by them
which is an
opportunity for them.
They are managed by
managing
interpersonal skills,
reducing conflicts,
negotiation related to
prices of raw material
among them so that
their interest could be
managed.
Contractors They are interested in
the project as they will
get the brokerage and
commission for their
work they are doing.
They are also in favour
of the project because
this project is a source
of employment to the
contractors.
They are managed by
telling them about the
future opportunities
which they can be
provided if they are
doing appreciable
work.
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Government They are also
interested in the
project as they are
receiving taxes which
are a source of income
for the government.
As the project is
carried over for
educational purpose so
the government is also
in the favour of this
project.
This is managed by
providing all the
information related to
the project to the
government and the
benefits arising out of
it to students.
Resource Managers They have their own
interest in the project
because good
resources provided by
them will improve his
own efficiency and in
case of future projects
he will be provided
with the same which is
an advantage and
reason for which he
has his interest in the
project.
They are also in favour
of the project as it will
make improvement in
their efficiencies and
skills which will help
them to develop their
career in future
(Marchewka, 2014) .
Their interest is
managed by
maintaining proper
relationship with them
and also good
interpersonal skills
have an important role
in influencing them in
a positive way.
TASK 2 WORK BREAKDOWN STRUCTURE AND GANTT CHART
Work Breakdown Structure can be defined as a chart in which tasks of a project are
illustrated to portray their relationships with each other and to the project as a whole. It helps is
assessing outcomes of the project based on the graphical nature of the WBS. The WBS is used in
order to manage the tasks properly and in an efficient way. It is so because it helps in making,
defining, organising the scope of the project which is done by making use of hierarchical tree
structure. This structure breaks down the the project objectives and tasks into smaller parts which
helps in their measurement. And also the tasks and responsibilities are also provided to the
employees on the basis of their skills and knowledge so the results of the task will also come
positive which increase the effectiveness and efficiency of the project.
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The Critical Path Analysis is very important as it reduces the risk and cost factor of the
project. It id both a planning and decision making tool as it helps in handling complex works and
also those tasks which are to be completed in a time efficient way. The Gantt Chart for the 20
Activities is provided as under:
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TASK 3) RISK REGISTER
Risk Register can be defined as the tool which is used for the purpose of documenting
risks, and actions for reacting upon those risks (Martinsuo, 2013). As the risks are identified they
are then recorded in the register and immediately their mitigation strategy is also prepared to
minimise their effect.
Risk Risk Level (L/M/H) Likelihood of Event Mitigation Strategy
Financial Risk: This
is the risk which the
company may suffer
due to change in the
prices of services,
goods, raw materials,
so it is mentioned as a
risk which also affects
M May Be Possible
An additional amount
has also been reserved
to deal with this
situation is in the
budget statement of
the project.
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the project.
Time Scale of
Project: It can be
defined as the already
defined time scale for
the completion of the
project within the
time.
H
Certainty
Comprehensive project
timeline plans are also
created with frequent
baseline reviews. The
progress of the project
will be checked on the
regular basis.
Change in the Scope
of Project: It changes
when there needs to
implement some
changes in the project.
L (Mostly defined
properly, subject to
revision)
Unlikely
Scope is initially
defined in the project
plan. It is continuously
reviewed every month.
Unrealistic
Estimation of Cost: It
means to say that
sometimes the costs
for certain goods or
services can be taken
as wrong.
L Unlikely
It is already included
in the project plan as
an estimation but may
be subject to some
changes till some
amendments are not
made in the scope of
the project (Meng,
2012)
Project Team
Availability: It refers
to the availability of
skilled and appropriate
number of staff in the
team for carrying out
the project.
M May Be Possible
Continuous review on
the needs and
requirements of the
project is taken into
consideration, if
needed than the may
be called for overtime.
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Unavailability of
Resources: It refers to
scarcity of resources
for the completion of
the task provided.
L Unlikely
Proper checking about
the availability of the
resources on daily
basis, so as to avoid
this scarcity.
Change Management
Procedures: It can be
defined as the change
in the policies and the
ways of working of the
manager or the
administration of the
project.
L Unlikely
For dealing with this
situation, efficient staff
has been appointed to
deal with the changing
working environment.
Extra Working
Hours: There may
also arises a need for
to work extra to make
the completion of the
project on time.
M May Be Possible
They will be provided
with extra incentives
and bonuses to keep
them motivated to
work.
Technical Risk: In
this risk, it is possible
that there arises some
technical issues in the
working of machines
or equipments.
M
Likely Possible
To deal with this
situation, technicians
and experts are already
hired in the team.
Performance Risk: It
can be defined as the
non accomplishment
of the task provided to
the team members on
L Unlikely
For dealing with this
situation, the
performance of the
employees are
measured on daily and
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time. individuals basis.
TASK 4 REPORT TO THE PROJECT SPONSOR
A) The Project Manager is the head of the project and have all knowledge about what to be
performed and when to be performed by whom to performed and many questions like this. So in
his duty, to check their performance and guide them but it is also his duty to continuously
encourage them, motivate them and increase their efficiency by proper guidance and showing
them the right way to work (Mir and Pinnington, 2014) .
It is also important for the manager to be good leader as it will help in making successful
the team work of all the employees and teammates who are working together for making the
project successful. It is necessary to be more than a coordinator and administrator in order to get
the work done in an effective and efficient way. The leader has the strong power to motivate and
encourage the employees to work for the goal they are provided with. He will make this possible
by making communication with them on regular basis. This will help them not to forget the
purpose of their doing the task so that they can do the work with full efficiency. In addition to
this, by properly communicating with employees, he can change their mindset and make them
clear about the purpose of their working.
The application of leadership in projects is very essential in order to complete the project
in efficient and effective way. There needs a person to convey these messages to the employees.
This task will be completed with the help of a leader. Leaders are those persons who have strong
influencing power to the mindset of others with the help of their words. Further it is essential to
make clear the employees with the vision, mission, clarity in reason behind doing the project,
practical in scheduling and the ability to attract and retain the talented employees in the team are
all the qualities which a leader possess not the manager so it is very important to have leadership
quality in successful accomplishment of a project. Leader is the only person to deliver the proper
messages and purpose of their working towards the goal. For example, friendly working
environment can be created by the leader so as to enhance their level of productivity and will be
helpful in collecting their ideas and views (Morris, 2013).
In the absence of the leadership quality in the project, than the employees will not get the
proper direction and guidance to accomplish the work provided to them. Further the lack of this
quality also brings the actual results equal to the desired result or lesser than that. But leadership
quality makes it possible to provide the result which can also exceed the desired results.
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B) Analyse and Evaluation of PRINCE2 Approach
Basis PRINCE2
APPROACH
Waterfall Agile
Definition This framework is
used to organise and
controlled stars and
ends of the projects.
In this approach there
are various phases
which are needed to be
completed before
reaching to the next
phase.
Agile is a
methodology that
practises and promotes
the continuous
repetition of
development and
testing throughout the
software development
cycle.
Size of Projects PRINCE2 Approach is
for large and medium
sized projects.
Waterfall is used in
case of medium sized
project.
Agile method is
mainly for medium
and small scoped
projects.
PRINCE2 stands for Projects in Controlled Environment. It is a framework which is used
in order to control the whole project in an organised and controlled way. It can also be said as
that this approach to project management focuses on organising and controlling the project from
the starting to the end. PRINCE2 approach is the solution for a sophisticated project which has a
wide range of stage driven processes which mainly focuses on the project benefits at each stage
(Ofori, 2013). Further this approach is also recommended because it breaks down all the
complex things into smaller parts.
STRENGTHS WEAKNESSES
 It is the strength of this approach that
this approach can be predictable.
 Standardisation is another strength that
makes sure that there are no errors and
omission in the project.
 It needs much time and effort to
prepare the documents.
 The implementation of the changes
may not be possible as it will effect
other parts also (Svejvig and Andersen,
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2015).
CONCLUSION
From the above given data it can be concluded that project management is very helpful
for making the project successful. The contribution is also made by the stakeholders who have
their own interest in the success of the project and also made contribution in their success. In
addition to this, the use of work break down structure is also used for making the tasks of the
project to be simple. In addition to this, PRINCE2 Approach is also used for making the complex
tasks in the project to divide them into smaller parts.
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REFERENCES
Books and Journals
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring
and monitoring project performance. John Wiley & Sons.
Marcelino-Sádaba, S., González-Jaen, L. F. and Pérez-Ezcurdia, A., 2015. Using project
management as a way to sustainability. From a comprehensive review to a framework
definition. Journal of cleaner production. 99. pp.1-16.
Marchewka, J. T., 2014. Information technology project management. John Wiley & Sons.
Martinsuo, M., 2013. Project portfolio management in practice and in context. International
Journal of Project Management. 31(6). pp.794-803.
Meng, X., 2012. The effect of relationship management on project performance in construction.
International journal of project management. 30(2). pp.188-198.
Mir, F. A. and Pinnington, A. H., 2014. Exploring the value of project management: linking
project management performance and project success. International journal of project
management. 32(2). pp.202-217.
Morris, P. W., 2013. Reconstructing project management. John Wiley & Sons.
Ofori, D. F., 2013. Project management practices and critical success factors–a developing
country perspective.
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.
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