Project management

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Project management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY .................................................................................................................................3
Project management plan.................................................................................................................3
Stakeholders concern..................................................................................................................3
Risk register................................................................................................................................6
Cost benefits analysis..................................................................................................................8
Time scale...................................................................................................................................9
Project execution challenges.....................................................................................................11
CONCLUSION.............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Project management is defined as adoption of those practices which includes planning,
execution, controlling and closure of work performed within a team in order to achieve goal and
objectives of project in specific time period (Kerzner, 2017). The major objective of project
management is to achieve efficacy in project along with completing the same in proper time
frame. Project management is an effective procedure which is helpful in order to control cost and
to manage task by attaining lesser complexities. The major objective of this report is to launch an
event by which universities can publish their technological constructed building in order to
attract more students and to compete with rivals universities. This report is covering risk factor,
time of project and stakeholder analysis. Furthermore this report includes project plan in which
cost and time benefit analysis is associated along with this in the last part of report challenges
which are faced during project execution.
MAIN BODY
Project management plan
Project management plan is defined as a formal document which undertakes all the
aspects of a project including cost to process of marketing. This is a written document in which
budget, time line and project deliverables are included so as to provide easiness to the project
and to keep the project on track. For the project which is discussed in this report is associated
with initiating high technological enhancement in buildings of universities so that to attract more
number of students. Project management plan is having numerous dimensions which are
elaborated as under:
Stakeholders concern
Stakeholders are defined as the parties which are having direct impact form the business
and institution (Young, 2016). These are the persons for whom activities of business and
institutions are carried out. For universities their stakeholders are students, donors, government
and academic faculty. Analysing these stakeholders are known as a crucial process in which
new program is being designed in order to involve individuals, leaders and other rival
organisation and other parties who are affected from assigned project. To monitor interest of
each stakeholder their interest is required to be managed so that to manage them properly. For
QA Higher Education College their stakeholders are directors, donors, students, teachers and

other those are directly associated with the institution. The interest, relationship within different
stakeholders are explained as under:
Stake holder's name Reason stating their
Interest
Whether they are in
or against Against
What is done to
manage them
Students These are showing
their high interest
because by the
proposed event good
image of their
university can be
created which may
lead them to acquire
high knowledge
regarding the current
topic.
This project is highly
favourable for the
students as this is
leading them in high
development and
growth in their career
(LARSON and GRAY,
2018).
All the students of QA
Higher Education
College are benefited
form initiation of this
project.
Teachers Teachers are having
high interest as they
are adopting
innovative ways in
their teaching so as to
reduce burden form
their minds.
These are also having
high favour from the
prevailing project in
which new and
innovative ways are
exerted in their
teaching process.
They are also provided
their interest and other
benefits which are
associated with their
objective of teaching.
Principal The principal of
college is also
associated with this
event as this event is
going to attract new
students in prominent
manner and along
with this this is
Principal is inclined
towards favour of the
initiated project.
In order to manage
interest of principal the
merits are provided to
them which will be
presented before
initiation of the
proposed project.

helpful in retaining
the old one too.
Suppliers Suppliers are the
person who are
receiving payment for
raw material which
are supplied by them
in university.
These are having high
favour in the proposed
project.(Niazi and et.
al., 2016)
They can be managed
in the manner that
quality raw materials
are supplied in which
institution can be
served in better
manner.
Contractors They are having
interest in order to get
high commission and
brokerage in their
rendered services.
They are working in
the favour of the
project.
These are managed by
obtaining more chances
so as to serve the
university in better
manner.
Government This is known as a
source of income for
the government and
they will be receiving
tax as a form of their
revenue.
Government is having
high favour from this
project as government
will receive high taxes
from success of the
project.
By rendering all types
of information
regarding the project
the effectiveness of the
student within
education can be
managed. The
institution can manage
government in
effective manner by
paying all their taxes
and other dues on time.
Resource Managers Resources of good
quality is going to
help in getting more
Resources managers
are providing high
support within the
This will be managed
by creation of healthy
relationship with them

chances of attainment
of resources. In case
of future events this
aspect is providing
high positive benefits
to QA Higher
Education College
(Boyle, 2017).
project. by using interpersonal
skills thereon.
Risk register
This is known as the tool in which is utilised by the management in order to document
risk and to ascertain the same within the project so as to assess risk at each part. In QA Higher
Education College, this is the aspect which is used by them in order to assess risk so that to meet
their overall objectives in proper manner.
Risk Risk Level(L/M/H) Likelihood of events Mitigation strategy
Financial risk: This
is the risk which is
associated with
arranging time of
event so as to render
information which is
related to the
university. On the
other side alteration in
goods, services,
which is requisite to
organise the proposed
event.
Medium This may be possible. The management of
QA Higher Education
College is highly
dedicated to meet their
budget requirements
which are needed to
execute the project.
Time scale of project-
It indicates to that
High This is having high In order to deal with
risk management of

time standard which
are considered by the
management of the
institution to organise
the activities of the
event (Martens and
Carvalho, 2016)(.
certainty. QA Higher Education
College is making
coherent plans so as to
execute their functions
in appropriate manner.
Unrealistic
estimation of cos:
This is associated
with the cost which is
consuming wrong
aspects in relation to
various context.
Low It is unlikely In order to deal with
this risk, event
planning is required to
be included by
management of QA
Higher Education
College. By meeting
possible changes needs
if the project can be
met in significant
manner.
Availability of project
team: This is refereed
as availability of
skilled and effective
staffs so as to meet
organisational goals.
As new project of QA
Higher Education
College is to become
technology driven
university and due to
this no availability of
Medium This can be possible. In order to deal with
this risk, QA Higher
Education College is
required to monitor
performance of their
team in regular manner
so that prevailing
demand of the project
can be met in
prominent manner.

quality team is one of
the prominent risk
which is associated in
this project.
Technical risk: This
is one of the major
risk which is faced by
QA Higher Education
College as the major
dimension of this
project is technology
and equipment. At the
time of execution of
the event
technological issues
can be faced by the
institution.
Medium Likely affirmable This is the risk which
can be managed by the
organisation by
keeping additional
equipments and putting
additional focus on
repair and maintenance
(Borkovskaya, 2018).
Cost benefits analysis
This is the process by which decisions of organizations are analysed so as to determine
value of its intangible. This is the model which is used by QA Higher Education College in order
to take action on their associated cost and to recognise pertained benefit as well.
Cost analysis
Within this QA Higher Education College is going to allocate their cost on various
elements on the basis of their requirement.
Cost Amount
Research and development 10000£
Marketing cost 9000£
Technological cost 15000£
Event host cost 16000£

Total 50000£
In order to analyse benefits from the project there are three steps which are required to be
followed by QA Higher Education College so as to calculate benefits from their project which is
elaborated as under:
Identifying benefits: Within this QA Higher Education College is identifying benefits
which are pertained from the event. From the event to boost technological constructed building
this event is going to give positive effects on admissions and image of their institution in the
marketplace (Gomes and Romão, 2016). On the other hand as in current time there are several
institution are available so this is required by QA Higher Education College that they initiate
distinct service in order to attract high number of students and to sustain as well. On the other
hand this is the event by which prominence of QA Higher Education College may get increased
and similarly due to robust market image high donation can be received by them which leads to
provide smooth flow of functional activities.
Execute benefits: After determining benefits for the project within this stage benefits are
realised so as to prepare realisation plan. For this step a plan is prepared by QA Higher
Education College which is elaborated as under:
 In order to examine benefits of the project value chain is being analysed by QA Higher
Education College so that to measure efficacy of the project.
 On the other hand KPI is required to be analysed by QA Higher Education College so
that to measure progress of the project and to inculcate overall efficacy.
 After this communication plan is prepared by the management of QA Higher Education
College by which formal process of ascertaining benefits.
Sustain benefits: This is a post execution process in which deliverable are measured by QA
Higher Education College. Within this process plan for continuous improvement is initialised by
the institution.
Time scale
This is referred as the scale by which time consumed by the project to complete is being
measured by management team of QA Higher Education College. For initiation step time of 22
days were taken. In the process of planning 40 days were taken, in stage one of execution 60
days were taken (Akkermans and et. al., 2020). Similarly on second phase of execution 25 days

were taken by the project. Controlling process took 32 days in completion and at last process of
closing were completed in 10 days.
Work Break down structure: This is referred as key project deliverable and within this work of
team is divided into a hierarchical structure so that to provide visual details regarding
deliverable.
Gantt Chart: This is defined as a chart which is known as production control tool (Turner,
2017). This tool is helpful in offering graphical illustration to the schedules in which appropriate
information is being enumerated regarding different activities of the event existed in the
proposed project of QA Higher Education College.

Project execution challenges
While execution of a project various difficulties can be faced which can affect the quality
of the project and also lead to its delay in completion thereby affecting the ultimate target of the
project. While executing the project related with constructing technologically upgraded
university buildings various issues can be faced which needs to be focused upon by the project
manager so that the desired results can be achieved. Some of these issues which can be faced
during this stage are finding people with appropriate skills to be a part of the project team, using
of effective leadership skills which can help in improving the effectiveness with which they
work, enhancing the performance of team members so that project can be completed effectively,
agreeing all the team members on a common goal that has to be achieved etc. Following are the
other problems that can be faced during the execution of this project: Resource conflicts: The unavailability of resources which are required in the effective
completion of the project can also affect in delay of the project and their effective
allocation among team members so that they can be used efficiently in completing the
task which is given to them which can lead to increased conflicts among team members
(Lloyd-Walker, French and Crawford, 2016). Ineffective communication which can lead to conflicts: It is important that effective
communication tools are used by the project manager so that the flow of information can
occur efficiently which can help in achieving the targets in manner desired. Ineffective
communication can lead top conflicts due top increased misunderstanding among team
members leading to the delay of project. No accountability: During a project it is important that accountability is fixed in the team
so that responsible actions can take place during the project which can help in enhancing
the reliability and accountability of the project thereby increasing its effectiveness in
achieving desired project objectives.

 Increased dependency among team members: When the team members are highly
dependent on each other this can affect their decision making powers independently
thereby impacting effective decisions which can affect the ability of achieving project
objectives. It is therefore important that dependency among team members must be
reduced and the power of decision making must be given to all the members so that
effective decisions can be made on time. Difficulty in decision-making: While working on a project can affect the ability of
making correct decisions which can lead to conflicts among team members. It is therefore
important that team members must also be engaged in taking decisions so that their views
and opinions can help in making effective decisions along with improving innovation
during the project work.
 Misalignment of projects and their business objectives: This is another issue which can
be faced during the execution of project as the objectives of project can be different from
the overall business objectives. It is therefore essential that the projects are started with
the objective of achieving the organisational objectives so that team members can be
motivated in achieving project goals on time and in an efficient manner.
CONCLUSION
From the above discussion this can be analysed that project management is considered as
the process which is responsible to make the project a success. With the help of management
plan all the activities can be arranged in prominent manner so as to complete anticipated project
in the given time frame. With the help of stakeholder analysis, interest of associated stakeholders
can be measured. Risk register is the area in which risk are monitored and minimised to required
level.

REFERENCES
Books and journals
Akkermans and et. al., 2020. Crafting project managers’ careers: Integrating the fields of careers
and project management. Project management journal. 51(2). pp.135-153.
Borkovskaya, V., 2018. Project management risks in the sphere of housing and communal
services. In MATEC Web of Conferences (Vol. 251, p. 06025). EDP Sciences.
Boyle, G., 2017. Design project management. Routledge.
Gomes, J. and Romão, M., 2016. Improving project success: A case study using benefits and
project management. Procedia Computer Science, 100, pp.489-497.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring
and monitoring project performance. John Wiley & Sons.
LARSON, E.W. and GRAY, C.F., 2018. Project management: the managerial process.
McGraw-Hill.
Lloyd-Walker, B., French, E. and Crawford, L., 2016. Rethinking researching project
management. International Journal of Managing Projects in Business.
Martens, M.L. and Carvalho, M.M., 2016. The challenge of introducing sustainability into
project management function: multiple-case studies. Journal of Cleaner
Production, 117, pp.29-40.
Niazi and et. al., 2016. Challenges of project management in global software development: A
client-vendor analysis. Information and Software Technology, 80, pp.1-19.
Turner, J.R. ed., 2017. Contracting for project management. Taylor & Francis.
Young, T.L., 2016. Successful project management. Kogan Page Publishers.