Project Management: Methodologies, Network Diagram, Stakeholder Analysis, WBS, Risk Analysis, and Analysis

This report discusses project management methodologies, network diagram, stakeholder analysis, WBS, risk analysis, and analysis through the example of TFL companies operational working. It emphasizes the importance of research methodologies and effective monitoring and supervision in project management. The report also includes a risk register, Gantt chart, and stakeholder analysis. Subject: Project Management, Course Code: N/A, Course Name: N/A, College/University: N/A

Project management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................4
TASK 1............................................................................................................................................4
Methodology...............................................................................................................................4
TASK 2............................................................................................................................................5
Network Diagram........................................................................................................................5
Stakeholder analysis....................................................................................................................7
TASK 4............................................................................................................................................7
WBS............................................................................................................................................7
Task 5...............................................................................................................................................8
Risk analysis...............................................................................................................................8
Task 6...............................................................................................................................................9
Analysis.......................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Project management is an effective approach which is beneficial in development and
management of a concerned piece of work or thesis (Aanbari, 2018). In the academic life and
career related life it is major responsibility of a person to develop good management practices
related to project management in a systematic and effective manner. In this project example of
TFL companies operational working is taken into consideration which is a major transportation
services of London City. In the given project, Evaluation of methodologies, stakeholder analysis
is taken into consideration along with the application of WBS and network diagram.

MAIN BODY
TASK 1
Methodology
In the provided construction related projects, the application of several project can be
taken into the consideration. According to the given project, the TFL is ordered to develop 1000
homes in action to and to get sustainability in the operations(Bjorvatn, 2018). The company can
choose best strategy to overcome various consequences that arise due to dynamic nature of
market. Following are the methodologies which can be chosen by TFL:
 Agile- This approach believes in producing desired output by a business entity to develop
effective practices by utilising optimum resources in a systematic manner. Most of the
successful companies in international and national marketplace use this approach to
develop at marketplace.
 Waterfall- It is the main duty of a leader to divide project into segments for easing the
workload of a professional. The desired goals and objectives of a company are calculated
with the waterfall approach it is also effective in completion of the project within a short
period of time.

TASK 2
Network Diagram
The network diagram is a graphical representation of the facts and figures which are
associated with the project firm (Copola Azenha, 2021). It is useful for a business firm to
evaluate effective practices in the network diagram to understand graphical representation of the
project work.

The above diagram is prepared through underneath basis
Early Start Activity Number Early finish
Slack
time
ACTIVITY NAME
Late Start Duration Late Finish
From the above analysis, it can be stated that the network diagram depicts critical path by
which functions and tasks related to a project are shown and developed in a precise manner
(Galli, 2018). This diagram is also helpful in development of work flow chart in order to develop
every task with major responsibility.

TASK 3
Stakeholder analysis
It is important for the TF:L company to perform stakeholder analysis for gaining the
desired growth at the marketplace. The TFL company should also take help of professional and
strategic management in order to gain competitive advantage at the marketplace. Stakeholder
analysis is mentioned below:
 Society- The society is a major stakeholder in the functioning of a business at the
marketplace. It is main role of society to develop ethics, values and traditions in the
business for long term business development (Pan, 2021). It is main duty of management
of a company to take into consideration the various dimensions of society for conducting
ethical and sustainable points. It is the major aim of a business to develop social practices
for effective expansion and growth of the business.
 Customer- In the functioning of a business it is effective for the company to identify,
target customers for the business. It is moral duty of top level management to share
experience related to customer relationship management in order to grow at rapid pace in
the marketplace (Picciotto, 2020). The customers are god for a business entity and it is
very much crucial for a business to include precise strategy for customer development.
 Employees- Most of the successful business entities in the marketplace, develop
employee productivity by taking into consideration the major needs of them. Employees
are considered as backbone for a business, who helps the business to develop precise
operations (Rodríguez-Rivero, 2020). The employees of a business entity should be
provided with fair and good competitive external environment in order to develop ethical
practices.
TASK 4
WBS
A work-breakdown structure in project management and systems engineering is a
deliverable-oriented breakdown of a project into smaller components. A work breakdown
structure is a key project deliverable that organizes the team's work into manageable sections.
This structure is majorly developed by project leader to simplify the work which is to be

performed in a specific period of time. In the recent times, is is one of the main duty of
management to develop work break down approach for ethical development of the whole
business entity (Silvius, 2017). The WBS structure is mainly related to simplification of work
which is required to be done with maximum consistency in order to succeed in completion of
project.
Task 5
Risk analysis
No. Risk Effect Possibility Mitigation
1 Failure of power Low High Using good quality of machin
being used under guided manner
2 Changes in weather High Moderate Estimating the possibilities a
techniques.
3 Safety and security Low Moderate Vision of secured place to work
4 Low human resource High High Effective HR management
5 Technological updates Low Moderate Market research
6 Bad catering on site High Low Hiring good quality catering
7 Lack of coordination High Low Coordination techniques
8 Lack of space Low High Allocation of resources in proper
9 Issues relation to society High Low Completion of social objectives
10 Self-esteem High Low Providing fair working en
operational firm.
11 Lack of parking space Low Low Organising good parking facilitie
12 Loss of finance Low Low Finance management
13 Project conflicts High Low Effective supervision
14 Low moral Moderate Low Marking company good place
motivational techniques.
15 Government influence Low Low Market research
16 Shortage of resources High Moderate Effective allocation and usage str
17 Employee safety High Low Illustrating disaster management

18 Act of God Low High -
19 Ineffective time management Low High Time management techniques
20 Market uncertainties High Low Market research and operational

Task 6
Analysis
Particulars Quality expectation Acceptance criteria Quality specification Con
Advertising High Increasing sales by 5% Technology usage Trai
Methodology High Increasing productivity
by 5%.
Agile and Waterfall Foll
meth
Risk assessment High Raising productivity by
2%.
Risk register Effe
man
Performance High Increasing turnover by
7%.
WBS and Gantt chart Supe

CONCLUSION
From the above stated report it can be concluded that it is important for an individual to
take assistance of research methodologies to develop precise approach. The above stated report
concludes that it is major responsibility of a researcher to include research methodologies in a
systematic manner for development of project. This project report concludes that it is major duty
of a researcher to develop effective monitoring and supervision in the operations to succeed at
the marketplace. The above stated report also concludes that network diagram and Gantt chart
helps a students to discover effective practices while calculating statistics.

REFERENCES
Books and Journals
Aanbari, F.T. and Kwak, Y.H., 2018, June. Impact on project management of allied disciplines.
Project Management Institute.
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.
Copola Azenha, F., Aparecida Reis, D. and Leme Fleury, A., 2021. The role and characteristics
of hybrid approaches to project management in the development of technology-based products
and services. Project Management Journal, 52(1), pp.90-110.
Galli, B.J., 2018. Application of system engineering to project management: How to view their
relationship. International Journal of System Dynamics Applications (IJSDA), 7(4), pp.76-97.
Pan, Y. and Zhang, L., 2021. A BIM-data mining integrated digital twin framework for advanced
project management. Automation in Construction, 124, p.103564.
Picciotto, R., 2020. Towards a ‘New Project Management’movement? An international
development perspective. International Journal of Project Management, 38(8), pp.474-485.
Rodríguez-Rivero, R.,., Díaz-Barcos, V. and Lozano, S.A., 2020. Applying the strategic
prospective approach to project management in a development project in Colombia. International
Journal of Project Management, 38(8), pp.534-547.
Silvius, G., 2017. Sustainability as a new school of thought in project management. Journal of
cleaner production, 166, pp.1479-1493.