London Estimated budget

Project Management L5 2017-18
Formative Assignment
Task 1a – PID
Title of Project The title of the project is redevelopment and
refurbishment of QAHE campus in London
Estimated budget (from
brief)
It is analyzed that around £100k is mainly required
for refurbish and redevelop the London campus of
QAHE. It is found that the budget is mainly funded
by the higher authorities of the organization so
that the available space of the campus can
generally be utilized quite effectively.
How might you break
down this number into
key categories?
Human resources- £30k
Materials- £50k
Additional cost- £50k
Therefore, total £100k is needed for refurbishing
and redeveloping the London campus of QAHE
Start date 31st January 2020
Finish date 5th May 2020
Project Sponsor Higher authority of QAHE campus
Project Manager < Please fill your name>
Main objectives
(essentially a short list of
key business reasons why
this project is being
undertaken)
QAHE generally wishes to make improvement
within the space that is present for the business
students and have generally asked to refurbish as
well as redevelop the London campus. It is found
that the preference that is generally tiered for
seating can be retracted with acoustic panels on
the walls for making it better space for teaching.
Additionally, it is asked to manage the entire work
of the project with the help of facilities
management department with a given budget that
is around £100k. Moreover, the work related with
the project needs to be performed in such a way
that no disruption will generally occur to the
teaching timetables within the college campus.
The project objectives are mainly listed below:
• To make improvement in the space that is
available for refurbishing as well as redeveloping
the London campus.
• To manage the project with the help of
facilities department within the budget of around
£100k.
• To provide preference that is for tiered
seating which can be retracted with the acoustic
panels on the walls for making it much better
space for teaching
Overall suggested It is found that in order to refurbish as well as
Project Management L5 2018-19 2018 © Roehampton University

approach (some major
points describing how you
will go about achieving
the above objectives).
NOTE: This is about the
PROCESS you will use and
main steps you will take
to achieve your goal.
redevelop the London campus of QAHE, agile
approach will be utilized as this particular
approach will allow the project manager as well as
the stakeholder to properly asses and examine the
direction of the entire project during the entire life
cycle (Peroni 2016). It is found that sprints as well
as iterations are considered regular as well as
consistent project that generally allows constant
growth which must be followed by the team
members of the project. Additionally, this
particular methodology helps in stakeholder
engagement, transparency and further allows
changes that are generally required in the project.
Any major risks that you
would like to highlight to
the sponsor at this early
point in the project
The risks that is required to be highlighted in the
project are listed below:
 Budget shortfall
 Schedule slippage
 Delay in supply of materials
 Inaccurate estimation of resources
 Lack of management
 Improper Blueprint
 Technology risk
Reference(s) for
templates/ideas used to
develop this
Badewi, A., 2016. The impact of project
management (PM) and benefits management (BM)
practices on project success: Towards developing
a project benefits governance
framework.
International Journal of Project
Management,
34(4), pp.761-778.
Kerzner, H., 2017.
Project management: a systems
approach to planning, scheduling, and controlling.
John Wiley & Sons.
Marchewka, J.T., 2016.
Information technology
project management: Providing measurable
organizational value. John Wiley & Sons.
Peroni, S., 2016. A simplified agile methodology
for ontology development. In
OWL: Experiences
and Directions–Reasoner Evaluation (pp. 55-69).
Springer, Cham.
Siami-Irdemoosa, E., Dindarloo, S.R. and
Sharifzadeh, M., 2015. Work breakdown structure
(WBS) development for underground
construction.
Automation in Construction,
58,
pp.85-94.
Task 1b – Simplified Stakeholder Analysis
Stakeholder Interest Power
Project manager High High
Project planner High Low
Contractor High High
Supervisor High Low
Construction manager High High
Project Management L5 2018-19 2018 © Roehampton University

Electrical engineer Low Low
HR manager High Low
Financial manager High Low
Figure 1: Stakeholder analysis
(Source: Created by author)
Task 2 – Simplified Risk Register
Ri
sk
Id
Risk Impact Likelih
ood
Mitigatio
n
Continge
ncy
action
Weight
age
Sco
re
1 Schedule
slippage
Signific
ant
Very
likely
Tracking
schedule
on a
weekly
basis
If the
project
managers
are not
present
then the
responsibil
ity must
be taken
by the
planners.
20% 2
2 Budget
shortfall
Severe Likely Managing
the
utilization
of
resources
effectively
.
Additional
amount of
money
must be
kept as
back up
for the
project.
20% 1
3 Inaccurate
estimation
of
resources
Moderat
e
Possible Estimating
the
required
resources
accurately
with the
help of
experienc
e
managers.
The
resources
that are
assigned
for the
project
must be
analyzed
for making
sure that
the
5% 7
Project Management L5 2018-19 2018 © Roehampton University

budget
which is
estimated
is
accurate.
4 Delay in
supply of
materials
Signific
ant
Likely Proper
time must
be set for
the
delivery of
the
resources.
The
delivery of
the
materials
should be
done two
days
before use
of those
resources.
5% 5
5 Scope
creep
Signific
ant
Unlikely Following
the scope
of the
project
effectively
The status
of the
project
must be
checked
regularly.
5% 9
6 Lack of
managem
ent
Moderat
e
Possible Proper
project
managem
ent
strategies
must be
used.
Proper
managem
ent plan
must be
created
before
starting
the
project.
5% 8
7 Lack of
experienc
e
Moderat
e
Possible Experienc
ed
workers
must be
hired.
Training
facility
must be
arranged
for the
team.
5% 6
8 Improper
blueprint
Signific
ant
Very
likely
Experienc
ed
workers
must be
hired for
developin
g the
blueprint.
The
blueprint
must be
checked
regularly
for making
sure that
the
blueprint
that is
created is
appropriat
e.
20% 3
9 Technolog
y risk
Severe Likely Proper
technical
equipmen
t’s must
be used
Experienc
ed
workers
should be
hired who
10% 4
Project Management L5 2018-19 2018 © Roehampton University