PROJECT MANAGEMENT - project

PROJECT
MANAGEMENT
PROJECT

Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
PROJECT MANAGEMENT PLAN that will address stakeholders’ concerns; risks; time; cost
and benefits realisation; and project execution challenges..........................................................2
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
1

INTRODUCTION
A project management plan is a collection of baselines and subsidiary plans that include:
Baselines for scope, schedule, and cost. Management plans for scope, schedule, cost, quality,
human resources, communications, risk, and procurement. The planning is been done so that any
risk related to the project can be overcome. This can be considered as the guide for the execution
of project and control related to the same. The main aim of the plan is to communicate the useful
information related to project to every stakeholder. It also consists of the deliverables and project
scope. Present report will lay emphasis on opening of the new Bamboo bicycle store. Study will
also focus on series of identifiable tasks, or alternatively a project oriented task. It will discuss
series of identifiable tasks, or alternatively a project oriented task with an overview of the
PRINCE 2 technique.
MAIN BODY
PROJECT MANAGEMENT PLAN that will address stakeholders’ concerns; risks; time; cost
and benefits realisation; and project execution challenges.
PRINCE 2 can be considered as one of the most effective tool for the management of
project. It provides the details in which how the project objectives can be achieved. It has been
analysed that project manager needs to possess fundamental skills which is really necessary for
the achievement of project set targets and objectives. It can be considered as the backbone for the
information system related to management which can be needed for any project (Krysiński. and
Miller, 2016). In this the various decisions are been taken related to how the plan is to be
executed. There are also various advantages and dis-advantages of making use of the PRINCE 2
technique while doing the project management planning. It has been analysed that the main
benefit of using it that this technique focuses more on the output and also it assist the project
manager in achieving the goals and objectives and also continuous improvement is possible
while implementing the project (Jaziri, El-Mahjoub and Boussaffa, 2018). This methodology can
also assist in learning continuously which is really necessary so that the effective decisions can
be made. Project team can learn from the each step which has been defined in the PRINCE 2
methodology (Siegelaub, 2017). There are also various weakness of using the PRINCE 2
technique. Like at every stage there are so many documents which needs to be maintained and
kept record of. The plan includes the following steps:
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Project brief: In the following project the owner is been involved in opening a new
Bamboo bicycle store. In this the new bicycle store will be engaged in creating, designing and
making the product by using Bamboo. The project will take approx. a period of 6 months. It has
been analysed that the entrepreneur is been involved in providing quality of bicycle to their
consumers, so that they can establish their store and this will also assist them in increasing their
profitability (Krysiński and Miller, 2016). The project scope is to design, deliver and create the
Bamboo bicycle according to the needs and demands of consumers. It is basically related to the
enhancing the satisfaction of consumers by providing them bicycle according to their wants. This
will also assist the firm in growing and increasing their profitability as well as revenue. The
Budget which is set for the project is a budget of £50,000. The project is been expected be
completed in the period of 6 months. It is really necessary for the project manager to complete
the project on time.
Stakeholders concerns: There are various stakeholders which are been involved in the
implementation of the new project which is opening up the new Bamboo bicycle store. There
concerns must be considered by the project manager so that they can be satisfied and the project
can be implemented successfully (Jamali and Oveisi, 2016). The concerns related to stakeholders
can be based on risk, cost or issues. There are various stakeholders which are involved such as
owners, project managers, team members, employees. The concerns can also affect the status and
quality of project which is going to be implemented by the project manager. There can be
various concerns of the other stakeholders too such as project schedules, time management,
safety, change management. Below is the table which has show the top concerns of stakeholders
which needs to be analysed and maintained in order to successfully implement the project. It
includes the following:
Top concerns Owner administration Project administration Facilities
administration
1. Communication is one
of the most top
concern of owner.
They need to be
engaged in thinking
about how to interact
One of the main
concern of project
manager is to work
with team and making
them understand their
roles and
The project manager
concern is financial
management. They
want to ensure that the
cost and expenses
related to project do
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