Project Management Part 2: Risk Register, Project Completion and Methodologies

This article covers project management methodologies, risk register, project completion and more. It is suitable for Business Management Extended Degree students.

Submission Coversheet (All Programmes)
Student ID Number
(Do not include student
name as anonymous
marking is implemented)
Programme Title Business Management Extended Degree
Module Title Project Management
Module Code (listed on
Moodle and in LTAFP)
Module Convenor
Coursework Title
Academic Declaration:
Students are reminded that the electronic copy of their essay may be checked, at
any point during their degree, with Turnitin or other plagiarism detection software
for plagiarised material.
Word Count Date
Submitted

PROJECT
MANAGEMENT

TABLE OF CONTENTS
PROJECT -1....................................................................................................................................4
PROJECT INITIATION DOCUMENT..........................................................................................4
Approaches..................................................................................................................................4
Assumption..................................................................................................................................4
Associated risk with project.........................................................................................................5
Timescales...................................................................................................................................5
Budgetary informally...................................................................................................................5
Staff and stakeholder analysis.....................................................................................................6
Work Breakdown Structure.............................................................................................................7
Risk Register................................................................................................................................8
Project Completion....................................................................................................................10
Analysis and critique of methodologies....................................................................................10
REFERENCES..............................................................................................................................12

PROJECT -1
PROJECT INITIATION DOCUMENT
Project initiation document is guide pertaining to the project that clearly layout
information related to what are the objectives of project, the way it will be organized, what are
the associated risk, assumption and the way it can be avoided for better outcome. QAHE
business management faculty is planning to design a new course of Sustainable business that will
focus on ethical and environmental business issue (Larsson and Larsson, 2020). So the project is
related to trip organize to Uganda in order to teach student about concept of sustainability.
Project initiation document of trip to Uganda can be illustrated as follows:
Objectives
1. “To organise trip to Uganda in order to teach student about the concept of sustainability
of environment for benefits of people living in society”.
2. “To add more and more number of student in the new course so that university can earn
high profitability”.
3. “To introduce or design new course of sustainable development for benefits of
university”.
Approaches
Lean is the project management approach that has been used by the project manager to
organised and managed the trip of Uganda so that people can have fun and entertainment.
Through making use of lean approach, manager has emphasis on making optimum use of
available resources, reduce the amount of associated wastage for maximum outcome.
Furthermore, project manager has lay efforts on understanding, monitoring all the expense,
activities of companies so that qualitative services can be rendered to customers at minimum cost
(Silvius, 2017). Likewise, manager has evaluated different hotels and accommodation that offer
space to people to live at what price, along with their services. So that they can take right
decision to select a particular hotel, transportation to visit Uganda trip for teaching student
related to concept of sustainability.
Assumption
1. The hotels, accommodation and transportation facilities related to trip of Udanga will be
in well designed manner.

2. Same contribution will be taken from all the student that are willing to go to trip of
Uganda.
3. Accuracy of the project will be maintained to avoid any future delay of completion of
project (Kerzner, 2018).
Associated risk with project
Project always involves certain amount of risk such as financial, external environment
risk and performance so project manager need to find out alternative method that could be used
to overcome the risk. Such as, in order to organised the Uganda trip, college need to invest its
capital in organising the event. Furthermore, there are numerous changes in external environment
such as policies of government, taste and preference of customers thereby they can impact the
project in terms of delay and others (Sanchez and Terlizzi, 2017). At last performance risk may
also arise, such as may be team member are not able to performed as desired which result in
challenges in effective completion of project in desired manner.
Timescales
In order to complete the project it is assumed that around 1 month will be required to book the
hotel and accommodation for student to live, eat food, make arrangement of transportation
facilities so that they can visit different place and have fun.
Budgetary informally
Budget basically represent crucial information related to expense that is made
related to project and the manner in which they can be utilised for maximum outcome of
project (Lock, 2017). Therefore, the associated expense related to trip of Uganda can be
explained as follows:
Expense Amount (£)
Electricity bill 1000
Salaries and wages to team member 2500
Advertisement cost 1500
Stationary expense 500

Material and equipment cost 1500
Planning expense 500
Other miscellaneous 500
Total 8000
Staff and stakeholder analysis
Stakeholder are key individual that are interested and are being affected by
particular project, so they need to be considered while taking any decision related to the
project for fruitful results (Radujković and Sjekavica, 2017). So, staff and stakeholder that
are interested or associated with the project of trip to Uganda can be explained as follows:
Stakeholders Significance
Parents Permission from parent of student will need to be taken related to
whether they allow the student to travel to Uganda in order to learn about
the concept of sustainability.
Students They are the individual that will go to trip to Uganda to learn about the
sustainability concept in effective manner. So they are also crucial in
project.
Project Manager Project manager is the one that is responsible for organising and
managing the event successfully. Thereby its role is important because it
will organised and arrange the Uganda trip.
Team Members In order to organised the project, there are various skilled and
knowledgable staff or team members required. So their involvement in
project is also necessary.

Work Breakdown Structure
A work breakdown structure can be defined as a breaking down the tasks of a project in order to
manage and complete the project in an effective manner. A work breakdown structure is
important because it helps in completing the project in an effective manner. A Work Breakdown
Structure (WBS) is a hierarchical define of the tasks required to complete a project (Conejo and
et.al., 2021). The WBS breaks down the shape of a challenge into plausible deliverables. Each
deliverable is assigned a assignment, or collection of obligations that may be in addition broken
down into subtasks to fulfill the needs of the task. The main cause of a WBS is to lessen
complicated sports to a set of tasks. This is essential for the challenge manager because she will
be able to oversee the duties greater effectively than the complicated activities. All the task work
need to be blanketed in one of the obligations and the responsibilities must no longer include any
non-assignment paintings.

Project 2
Risk Register
S.
No.
Risk
Description
Likelihood Impact Severity Person who
will
manage
Mitigation
Action
Contingent
Action
1. Lack of
resources
Moderate Project
Manager
It will be
ensured that
there are
appropriate
resources
available.
Back up
resources
will be
utilized.
2. Lack of
transport
Moderate Project
Leader
It will be
ensured that
there are
effective
transport
available.
Ensure that
local
transport is
available.
3. Lack of
funds
High Project
Leader
Proper
budget will
be
developed
Backup
option to be
referred to
4. Lack of
staff
Moderate Project
Leader
Hire
adequate
staff
Allow
students to
be conscious
and make
informed
decisions
5. Injuries High Project
Manager
Have
proper first
aid
Ensure that
the first aid
is used
effectively

6. Language
Issue
Moderate Project
Leader
Train the
staff
members
Connect
with the
local guide
7. Problem in
organization
Moderate Project
Manager
Implement
effective
plan
Ensure that
there are no
issues
8. Issues in
designing
the course
Moderate Project
Leader
Plan
effectively
Implement
the plan
effectively
9. Lack of
staff costs
High Project
Manager
Plan budget Implement
the budget
according to
the expenses
10. Limited
availability
of time
Low Project
Manager
Develop a
schedule
Make sure
that the
schedule is
followed at
all times.
The reason of a threat register in undertaking management is to document the details of all risks
which have been diagnosed along with their evaluation and plans for the way those dangers
could be treated. Basically, it is a log that identifies dangers in conjunction with their severity
and the movements and steps to be taken to mitigate the risk (Ingason, 2020). The danger sign up
enables a undertaking manager or enterprise to listing all viable or capacity dangers into rows,
and then become aware of and outline crucial additives of these dangers in the related columns.
To be powerful, an business enterprise's danger management plan requires the development and
upkeep of an ongoing process that allows the identification, evaluation, assessment, and
treatment of risks that may impact the enterprise. This knowledge further permits the
prioritization of movements to reduce these dangers to an acceptable degree. What effects from
this risk management system is a tremendous quantity of danger management information that

needs to be controlled in this kind of way that it can be discovered and carried out fast and
efficiently.
Project Completion
The project completion describes the a success success of the challenge aim. It includes the final
stages of a project: product recognition, a final evaluation, revel in guarantee and the very last
task resolution. If the actual intention has now not been accomplished, that is referred to as a
undertaking termination. Completion criteria are the standards by using that you or anyone else
can decide if a project become completed well (Mbiru, Wickham and Ayentimi, 2020). Quality
is built right into a project thru challenge information, and one of the maximum vital task info
are the finishing touch standards. During the very last closure, or completion segment, the
emphasis is on liberating the very last deliverables to the consumer, turning in task
documentation to the commercial enterprise, terminating dealer contracts, freeing mission
resources, and speaking the closure of the challenge to all stakeholders.
Analysis and critique of methodologies
Agile Methodology - The Agile methodology is a way to control a venture by way of
breaking it up into several levels. It entails consistent collaboration with stakeholders and
continuous improvement at each level. Once the work starts offevolved, teams cycle through a
procedure of planning, executing, and comparing. Continuous collaboration is important, each
with group individuals and undertaking stakeholders. It’s a method for managing a mission that
involves constant collaboration and operating in iterations. Today, the word Agile can talk over
with these values and the frameworks for imposing them, which include Scrum, Kanban,
Extreme Programming (XP), and Adaptive Project Framework (APF).
Waterfall Methodology - The waterfall methodology is a undertaking management technique
that emphasises a linear progression from starting to quit of a task (Shimamoto, 2020). This
methodology, frequently utilized by engineers, is the front-loaded to depend on cautious making
plans, precise documentation, and consecutive execution. It’s a manner for coping with a
assignment that involves constant collaboration and operating in iterations. Today, the word
Agile can check with those values and the frameworks for enforcing them, including Scrum,
Kanban, Extreme Programming (XP), and Adaptive Project Framework (APF). The Waterfall
technique depends at the perception that each one mission necessities can be accrued and
understood prematurely. The undertaking supervisor does their first-rate to get an in depth

information of the assignment sponsor’s requirements. Written necessities, commonly contained
in a single file, are used to describe each stage of the challenge, inclusive of the prices,
assumptions, dangers, dependencies, fulfillment metrics, and timelines for crowning glory
(Weber, 2020). Teams should whole a whole step earlier than moving onto the following one, so
if there are roadblocks to of entirety, they’re introduced to mild proper away. Half-completed
initiatives are less probably to get brushed aside, leaving groups with a more complete, polished
undertaking in the long run.
PRINCE 2 Methodology - PRINCE2 is a venture control methodology that is usually used
inside the UK, Australia and European international locations. “PRINCE2” stands for Projects
IN Controlled Environments, due to the fact this method focuses on dealing with assets and
dangers by means of dividing projects into smaller levels, defining clear roles & obligations and
the usage of seven tactics to manage the project life cycle. By organizing the task into logical
steps, PRINCE2 demands a venture management framework that has an organized and managed
undertaking plan before starting, one that continues its business enterprise thru the undertaking
lifestyles cycle. The manage is accomplished via seven PRINCE2 processes (Tulupov, 2020).
These assignment control approaches cover all the sports that compose a task, from begin to
finish. Now that we've an concept of what PRINCE2 is, allow take a quick study its origins.
Prince2 consists of four incorporated factors: Principles, Themes, Processes and Tailoring to
healthy the needs of the challenge environment. There are 7 standards and these are the
constructing block, applying all 7 concepts to a venture is one of the necessities required to don't
forget a project a 'PRINCE2 venture'.

REFERENCES
Books and journals
Conejo, A.J. and et.al., 2021. Robust capacity planning for project management. INFORMS
Journal on Computing.
Ingason, H.T., 2020. Quality Management: A Project Management Perspective. Routledge.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Larsson, J. and Larsson, L., 2020. Integration, application and importance of collaboration in
sustainable project management. Sustainability, 12(2). p.585.
Lock, D., 2017. The essentials of project management. Routledge.
Mbiru, J.E., Wickham, M.D. and Ayentimi, D.T., 2020. Introducing an entrepreneurial project
management model. The Journal of Modern Project Management, 7(4), pp.1-21.
Radujković, M. and Sjekavica, M., 2017. Project management success factors. Procedia
engineering, 196. pp.607-615.
Sanchez, O. P. and Terlizzi, M. A., 2017. Cost and time project management success factors for
information systems development projects. International Journal of Project
Management, 35(8). pp.1608-1626.
Shimamoto, M., 2020. National Project Management. Advances in Japanese Business and
Economics.
Silvius, G., 2017. Sustainability as a new school of thought in project management. Journal of
cleaner production, 166. pp.1479-1493.
Tulupov, M.A., 2020. Methodology for constructing a project management information system
based on the enterprise application integration. Cybernetics and Systems
Analysis, 56(4), pp.641-654.
Weber, B., 2020. Project management: The art of managing deadlines. In Publications
management: Essays for professional communicators (pp. 107-115). Routledge.