Project Management: Stakeholder Concerns, Risks, Time, Benefits, and Challenges

Project Management

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Stake holder concern....................................................................................................................3
Various Risk into the project.......................................................................................................4
Time taken in project...................................................................................................................5
Realisation of benefits..................................................................................................................6
Challenges in project execution...................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management suggests making courses of action which is required in a project.
The project management is connected to managing the whole project, administering fuses
resource dealing with, making practices course of action, and dealing with the work by assigning
them their employments and obligation, and the so on. Managing a project is a genuine
extraordinary task. It requires standard management and seeing of work. Every association
endeavours a project and endeavours to complete it at time. The whole project is divided into
little activities of tasks which sum up the project. For reference this report has embraced a
specific project for introducing the sun powered plant framework into the workplace premises.
The project requires an enormous cost which it has some financial plan, dangers, time, scope and
so on. The motivation behind this project is to introduce the new brand fast food restaurant. This
project has a spending plan of 50,000 Euros and a period range of a half year. This report talks
about the partners concerns, dangers, time, cost and advantages acknowledgment alongside the
difficulties which is looked by the project administrator.
TASK 1
Stake holder concern
Each venture has a thought process or objective. The speculators or the partners
additionally hold a desire which they have with respect to or identified with the undertaking. The
purpose for this project is to build up a fast food restaurant in which they have planned to bring a
new concept for opening up a restaurant. The project is a very expensive one as it is not very
easy to stand up a own restaurant. And to make it successful, it needs a lot of investment of
funds. The venture has the following advantages:
A trend: It has been noticed that the restaurant business is totally in into the market. And the
project plan is to open up a fast food restaurant which would provide the healthy food and drinks
to the people. The people have become keener and focused related to their diet. They prefer the
food or the drinks which are fresh and do not contain any kind of synthetic ingredient in that
(Owusu, Chan and Shan, 2019). They have planned to fulfil this need and trend for the customer
by providing the food which is healthy for their diet.
One time investment: Building up a restaurant is a onetime investment. This major one time
investment may include building up the structure or the place where the project for opening up a
fast food restaurant will go to set up. It also includes the cost for acquiring the resources and the
machineries which would need into the restaurant. Opening up the restaurant do needs a lot of
investment and it does not consider an easy task to perform. Opening up a restaurant requires a
huge investment into the project. After fulfilling all the one time investment the company need to
handle the other secondary expenses which would get occur in a time period in months.