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

This article discusses project management methodologies, network diagram, WBS, risk analysis, and stakeholder analysis. It provides insights into TFL, a construction company, and its project management models. The article also includes a detailed explanation of the different methodologies that can be used in project management, such as Agile and Waterfall. It also presents a network diagram and WBS for TFL's project. Additionally, the article covers risk analysis and stakeholder analysis, which are crucial for effective project management.

Project Management

Table of Contents
Introduction..................................................................................................................................................................................................3
Main Body...................................................................................................................................................................................................3
Task 1...........................................................................................................................................................................................................3
Methodologies.........................................................................................................................................................................................3
Task 2...........................................................................................................................................................................................................4
Network diagram.....................................................................................................................................................................................4
Task 3...........................................................................................................................................................................................................6
Stakeholder analysis................................................................................................................................................................................6
Task 4...........................................................................................................................................................................................................8
WBS.........................................................................................................................................................................................................8
Task 5.........................................................................................................................................................................................................10
Risk analysis..........................................................................................................................................................................................10
Task 6.........................................................................................................................................................................................................11
Conclusion.................................................................................................................................................................................................11
References..................................................................................................................................................................................................12

Introduction
The given project will deliver effective project management models to ensure smooth operations in project firm. As per the
given case scenario, TFL is a construction company that facilitate its working along with providing sustainable advantages to the
economy. Moreover, in the said project document several techniques and methods are being implemented in accordance with deriving
appropriate project effectiveness. Furthermore, presentation of WBS, Gantt chart and risk analysis guides effective working of the
corporate firm in terms of extracting the best usage of resources of the project firm (Andrews and et. al., 2021).
Main Body
Task 1
Methodologies
Taking use of various methodologies of project helps or guides working of the project firm towards correct direction. Under
the technique various activities of the project firm can be enhanced taking considerations to better operational work and effective
usage of resources of the project firm. In relation to the given project firm i.e. TFL, following are the methodologies that can be taken
to use; Agile: The given methodology develops understanding towards project activities in the most defined manner. Taking
considerations of given context, project industry by adopting to agile methodology can gain professionalism in project tasks.
Furthermore, it can be said that project managers can divide the complex work which is to be performed in project firm
(Ashworth and Perera, 2018).
 Waterfall: In this methodology division of work as per linear sequential phases that ensures protection of interest of project
stakeholders is being undertaken (Yates, 2019). In accordance with this methodologies, the standards of working in the project
firm are being updated in regards to achievement of project goals and objectives without taking considerations of changes in

market trends. Therefore, the given methodology benefits working in the ope6rational firm that have higher operatpions and
establishes long term existence of the firm (Antony, 2018).
Task 2
Network diagram
Network diagram refers to graphical presentation of activities performed in the project industry and is being formulated by
combination of boxes and series of arrows. The given presentation specifies about the inter-relation between various sets of activity
which is to be performed under the project firm (Upjohn, 2019). Reflecting to the given scenario, project manager by preparation of
network diagram can ensure effective understandings of project tasks and can avoid wastages of efforts and relates resources for
completion of the project organisation. The network diagram for this project is as follows (Chown and et. al., 2018):

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 illustrated network diagram which displays the effective path of activities that can be performed to attain
project goals and objectives. Under the technique standards are established under which series of activities are identified with respect
to analyse the shortest path possible for attainment of desired project goals and objectives. As per the analysis of higher up chart of
concert that different activities are based on the shortest time such as, 1,2,4,5,9,10,21 and 22. Thus, the lowest possible time to finish
them will be about in 116 days that is period of time of such events (Da Silva and Armstrong, 2020).

Task 3
Stakeholder analysis
Stakeholder analysis refers to the technique through which effective decisions can be passed in the project firm reflecting to
several operational work being performed. Under the analysis company get exposure to their variety of stakeholders and can develop
strategies required in the given operational marketplace. The stakeholder analysis of TFL are as follows (Kostera and Harding eds.,
2021);
 High power low interest: Such types of stakeholders have low interest in business operations but are guided under high power
to govern project operations. For the given context, government is being classified under this element of stakeholder matrix.

 High power high interest: Under this segment of stakeholder matrix, stakeholders with high power and high interest towards
operational working of the project firm is being classified. Investors of the project organisation is being taken consideration
into this category (Mosely, Wright and Wrigley, 2018).
 Low power high interest: For this segment stakeholders with high interest but with low authoritative power for the project firm
is being classified. In the given project industry customers are being classified. These are considered to be the most important
stakeholders for the company.
 Low power low interest: In the given section, stakeholders with low power and low interest is being taken into consideration.
For instance, in the given project firm, external staff members of the project organisation is being categorised under this
stakeholder matrix section (Mosely, Wright and Wrigley, 2018).

Task 4
WBS
WBS is a structure that defines effective working of the operational firm in the best possible manner. Through this structure
project manager can build on strong decision making and prepare working of project firm under uncertain market situations (Moxey
Budget Approval Music Advertising Develop an
Advertisement Plan
Train Production
Crew
Performance
Director Approval
Department
approval
Hire Orchestra
Manager’s concern
Hire publicity
Director
Use of digital
techniques
Marketing tools
Hire set designer
Set designed and
buit
Cast rehearsal
Advertisement
media
Concern of
marketing manager
Performance
management
techniques
Training and
development
Main activities

and et. al., 2021). The given structure helps in creating clear vision towards the attainment desired goals and objectives of the project
firm. In relation to the given project, by listing all the project activities project managers was benefited with WBS which provided
clear vision towards attainment of project objectives and also avoided wastages of resources while performing several project
activities (Pritchard, 2020).
Organisational structure

Task 5
Risk analysis
No. Risk Effect Possibility Mitigation
1 Failure of power Low High Using good quality of machines and equipments
being used under guided manner.
2 Changes in weather High Moderate Estimating the possibilities and good planning
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 manner
9 Issues relation to society High Low Completion of social objectives
10 Self-esteem High Low Providing fair working environment in the
operational firm.
11 Lack of parking space Low Low Organising good parking facilities
12 Loss of finance Low Low Finance management
13 Project conflicts High Low Effective supervision
14 Low moral Moderate Low Marking company good place to work through
motivational techniques.

15 Government influence Low Low Market research
16 Shortage of resources High Moderate Effective allocation and usage strategies.
17 Employee safety High Low Illustrating disaster management training session.
18 Act of God Low High -
19 Ineffective time management Low High Time management techniques
20 Market uncertainties High Low Market research and operational flexibility
Task 6
Particulars Quality expectation Acceptance criteria Quality specification Controlling techniques
Advertising High Increasing sales by 5% Technology usage Training and developing
Methodology High Increasing productivity
by 5%.
Agile and Waterfall Following principles of
methodology
Risk assessment High Raising productivity by
2%.
Risk register Effective risk
management techniques
Performance High Increasing turnover by
7%.
WBS and Gantt chart Supervision techniques.
Conclusion
From the evaluation of above report document, it can be concluded that, project management strategies aids towards effective
management of project activities. In addition to this, taking use of network diagram and WBS project manager can define clear vision
towards attainment of desired goals and objectives of the project firm.

References
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