Launching of a Hostel for International Students

The paper focuses on the launching of the hostel for the international students. The project mainly aims to attract the international students by providing excellent services at an affordable price. It is found that the project launching will mainly incorporate construction of the hostel as well as promotion of the services of the hotel with the help of advertisements as well as other medium. The paper provides the entire plan for the project and elaborates that the entire project can get completed in 12.35 months by utilizing the budget of around $722,680. The paper also reflects on the risk management plan in order to access the risks in context to impact and probability with proper mitigation strategies that helps in mitigating the project risks. Moreover, the communication plan that is developed within the project also helps in avoiding communication related issues and challenges.

Running head: PROJECT MANAGEMENT
Project management: Launching of a hostel for international students
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Introduction to the group
Name Role Contact details
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PROJECT MANAGEMENT
Executive Summary
The paper focuses on the launching of the hostel for the international students. The project mainly aims to
attract the international students by providing excellent services at an affordable price. It is found that the
project launching will mainly incorporate construction of the hostel as well as promotion of the services
of the hotel with the help of advertisements as well as other medium. The paper provides the entire plan
for the project and elaborates that the entire project can get completed in 12.35 months by utilizing the
budget of around $722,680. The paper also reflects on the risk management plan in order to access the
risks in context to impact and probability with proper mitigation strategies that helps in mitigating the
project risks. Moreover, the communication plan that is developed within the project also helps in
avoiding communication related issues and challenges.

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PROJECT MANAGEMENT
Table of Contents
1. Description of the project scope statement..............................................................................................4
1.1 Project details....................................................................................................................................4
1.2 Background of the project..................................................................................................................4
1.3 Benefit from the project.....................................................................................................................4
1.4 Start and finish date...........................................................................................................................5
1.5 Monetary value..................................................................................................................................8
1.6 Constraints.......................................................................................................................................11
1.7 Key assumptions..............................................................................................................................12
1.8 Expected outcome............................................................................................................................13
2. Work breakdown structure....................................................................................................................13
3. Gantt chart.............................................................................................................................................14
4. Network diagram...................................................................................................................................16
5. Stakeholder analysis..............................................................................................................................16
6. Communication planning.......................................................................................................................23
7. Risk management..................................................................................................................................26
8. Allocation of ratings to each potential risks...........................................................................................33
Bibliography..............................................................................................................................................35

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1. Description of the project scope statement
1.1 Project details
The project mainly reflects on launching of hostel for international students. The main aim of the
project is to attract more number of international students by providing excellent services at a very much
cost-effective price in comparison to other organizations that exists within the market. The construction
phase of the hostel mainly includes construction of framework, entry and exit spaces, brick, concrete,
colour as well as tiles application. Moreover, cooking area, bedroom, bathroom as well as playground
area is prepared for the hostel. Furthermore, it is quite necessary to promote the hostels with the help of
either advertisement as well as banners. It is found that the launching of the hostel for internal students
will generally get completed in 12.35 months within the budget that is around $722,680.
1.2 Background of the project
It is found that earlier the international students face a lot of issues as well as challenges in
getting proper hostel that assists in providing excellent service at a very much cost effective price. This is
considered as one of the major issue for the international students. It is found that in order to resolve the
issues quite effectively, it is quite essential to launch a new hostel for the international students in Sydney
so that the students can get proper opportunity of living in a very much cost effective manner. In addition
to this, the hostel will provide excellent service including food, water supply as well as proper living
rooms and playgrounds. In addition to this, the hotel that will be constructed for the international students
would be promoted with the help of advertisements, hoardings as well as banners.
1.3 Benefit from the project
The main benefit that is mainly achieved by launching the hostel is that the international students
will get to know about the hostel that helps in providing excellent services at a very much cost effective
way. The students from different countries can be able to afford their living with less amount of money

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and can be able to continue their studies in Australia. Moreover, the entire project will be helpful in
giving competition to other organizations within the market.
1.4 Start and finish date
The table that is provided below showcases the schedule of the project for launching the hostel
for the international students. It is found that the project will be commenced on 13th May 2019 and it is
assumed that the project will get finished on 21st April 2020. The table that is given below reflects on the
beginning and accomplishment date of each of the project activity.
WBS Task Name Duration Start Finish
0
Launching hostel for international
students
12.35 mons Mon 13-05-19 Tue 21-04-20
1 Planning of the project 1 mon Mon 13-05-19 Fri 07-06-19
1.1 Analyzing requirement 0.35 mons Mon 13-05-19 Tue 21-05-19
1.1.1 Analysis of the requirements 4 days Mon 13-05-19 Thu 16-05-19
1.1.2 Analysis of the project nature 3 days Fri 17-05-19 Tue 21-05-19
1.2 Resource estimation 3 days Wed 22-05-19 Fri 24-05-19
1.3 Estimation of time schedule 3 days Mon 27-05-19 Wed 29-05-19
1.4 Budget estimation 2 days Thu 30-05-19 Fri 31-05-19
1.5 Manpower estimation 3 days Mon 03-06-19 Wed 05-06-19
1.6 Resource analysis 2 days Thu 06-06-19 Fri 07-06-19
1.7
Milestone 1: Completion of
project planning phase
0 days Fri 07-06-19 Fri 07-06-19
2 Initiation of the project 3.45 mons Mon 10-06-19 Thu 12-09-19
2.1 Land procurement 6 days Mon 10-06-19 Mon 17-06-19

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2.2 Hiring the project stakeholders 5 days Tue 18-06-19 Mon 24-06-19
2.3 Meeting arrangement 6 days Tue 25-06-19 Tue 02-07-19
2.4
Managing the budget of the
project
5 days Wed 03-07-19 Tue 09-07-19
2.5 Hiring the stakeholders 5 days Wed 10-07-19 Tue 16-07-19
2.6 Preparation of blueprint 4 days Wed 17-07-19 Mon 22-07-19
2.7 Procuring the land area 5 days Tue 23-07-19 Mon 29-07-19
2.8 Release of legal notice 5 days Tue 30-07-19 Mon 05-08-19
2.9 Budget allocation 6 days Tue 30-07-19 Tue 06-08-19
2.10 Resource procurement 5 days Wed 07-08-19 Tue 13-08-19
2.11 Dividing the time of the project 4 days Wed 14-08-19 Mon 19-08-19
2.12 Dividing the work of the project 4 days Tue 20-08-19 Fri 23-08-19
2.13 Analyzing the project risks 8 days Mon 26-08-19 Wed 04-09-19
2.14 Mitigating the risk 6 days Thu 05-09-19 Thu 12-09-19
2.15
Milestone 2: Planning phase
completion
0 days Wed 04-09-19 Wed 04-09-19
3 Execution phase of the project 6.45 mons Thu 05-09-19 Tue 03-03-20
3.1 Land preparation 11 days Thu 05-09-19 Thu 19-09-19
3.2 Assorting the project resources 12 days Fri 20-09-19 Mon 07-10-19
3.3
Making arrangement for
constructing the hostel
8 days Tue 08-10-19 Thu 17-10-19
3.4 Construction of framework 9 days Fri 18-10-19 Wed 30-10-19

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3.5 Exit and entry spaces 10 days Thu 31-10-19 Wed 13-11-19
3.6 Application of bricks 13 days Thu 14-11-19 Mon 02-12-19
3.7 Plumbing 11 days Tue 03-12-19 Tue 17-12-19
3.8 Application of electric circuit 12 days Tue 03-12-19 Wed 18-12-19
3.9 Application of concrete 14 days Thu 19-12-19 Tue 07-01-20
3.10 Application of color 10 days Wed 08-01-20 Tue 21-01-20
3.11 Application of tiles 8 days Wed 22-01-20 Fri 31-01-20
3.12 Construction of cooking area 12 days Mon 03-02-20 Tue 18-02-20
3.13 Construction of bedrooms 10 days Wed 19-02-20 Tue 03-03-20
3.14 Construction of playground 0 days Tue 03-03-20 Tue 03-03-20
3.15
Milestone 3:Execution phase of
the project completed
0 days Tue 03-03-20 Tue 03-03-20
4 Promotion phase 1.5 mons Wed 04-03-20 Tue 14-04-20
4.1
Arrangement for promoting the
hostel
9 days Wed 04-03-20 Mon 16-03-20
4.2 Advertisements 8 days Tue 17-03-20 Thu 26-03-20
4.3 Banners 7 days Fri 27-03-20 Mon 06-04-20
4.4 Project finalization 6 days Tue 07-04-20 Tue 14-04-20
4.5
Milestone 4: Promotion phase
completion
0 days Tue 14-04-20 Tue 14-04-20
5 Closure phase 0.25 mons Wed 15-04-20 Tue 21-04-20
5.1 Sign off stakeholders 3 days Wed 15-04-20 Fri 17-04-20

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5.2 Post project review 2 days Mon 20-04-20 Tue 21-04-20
5.3
Milestone 5:Closure phase
completion
0 days Tue 21-04-20 Tue 21-04-20
1.5 Monetary value
The table that is provided showcases that around $722,680 is required for launching the hostel for
internal students by completing the construction related work. It is found that the budget that is generally
needed for executing each of the project activities that are are generally provided in the table below:
WBS Task Name Duration Cost
0
Launching hostel for
international students
12.35 mons $722,680.00
1 Planning of the project 1 mon $9,200.00
1.1 Analyzing requirement 0.35 mons $3,240.00
1.1.1 Analysis of the requirements 4 days $1,920.00
1.1.2 Analysis of the project nature 3 days $1,320.00
1.2 Resource estimation 3 days $1,320.00
1.3 Estimation of time schedule 3 days $1,440.00
1.4 Budget estimation 2 days $880.00
1.5 Manpower estimation 3 days $1,440.00
1.6 Resource analysis 2 days $880.00
1.7
Milestone 1: Completion of
project planning phase
0 days $0.00
2 Initiation of the project 3.45 mons $132,280.00

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2.1 Land procurement 6 days $0.00
2.2 Hiring the project stakeholders 5 days $2,400.00
2.3 Meeting arrangement 6 days $2,880.00
2.4
Managing the budget of the
project
5 days $2,200.00
2.5 Hiring the stakeholders 5 days $2,200.00
2.6 Preparation of blueprint 4 days $2,240.00
2.7 Procuring the land area 5 days $2,800.00
2.8 Release of legal notice 5 days $2,400.00
2.9 Budget allocation 6 days $0.00
2.10 Resource procurement 5 days $4,600.00
2.11 Dividing the time of the project 4 days $1,920.00
2.12
Dividing the work of the
project
4 days $101,920.00
2.13 Analyzing the project risks 8 days $3,840.00
2.14 Mitigating the risk 6 days $2,880.00
2.15
Milestone 2: Planning phase
completion
0 days $0.00
3 Execution phase of the project 6.45 mons $456,560.00
3.1 Land preparation 11 days $311,440.00
3.2 Assorting the project resources 12 days $0.00
3.3 Making arrangement for 8 days $7,360.00

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constructing the hostel
3.4 Construction of framework 9 days $9,360.00
3.5 Exit and entry spaces 10 days $10,400.00
3.6 Application of bricks 13 days $19,760.00
3.7 Plumbing 11 days $15,840.00
3.8 Application of electric circuit 12 days $17,760.00
3.9 Application of concrete 14 days $26,320.00
3.10 Application of color 10 days $9,200.00
3.11 Application of tiles 8 days $11,840.00
3.12 Construction of cooking area 12 days $17,280.00
3.13 Construction of bedrooms 10 days $0.00
3.14 Construction of playground 0 days $0.00
3.15
Milestone 3:Execution phase of
the project completed
0 days $0.00
4 Promotion phase 1.5 mons $122,320.00
4.1
Arrangement for promoting the
hostel
9 days $7,560.00
4.2 Advertisements 8 days $106,720.00
4.3 Banners 7 days $2,520.00
4.4 Project finalization 6 days $5,520.00
4.5
Milestone 4: Promotion phase
completion
0 days $0.00

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5 Closure phase 0.25 mons $2,320.00
5.1 Sign off stakeholders 3 days $1,440.00
5.2 Post project review 2 days $880.00
5.3
Milestone 5:Closure phase
completion
0 days $0.00
1.6 Constraints
A project is more often is defined successful if the project objectives are properly achieved by
the deadline by staying within the budget. However, it is found that part from the time, scope as well as
cost, it is identified that there are six additional constraints which are helpful in limiting the process for
accomplishing the objectives of the project.
Quality: Quality of the project is mainly linked with the scope of the project and as the quality
mainly concentrates on the various attributes and thus it is considered to be interrelated with the
constraint of the project. It is found that if the quality of the project is compromised then it generally
constructs the project progress by reducing the chances of the project failure.
Risk: The Risk management is as the most significant tasks for the project managers. When the
probability of risk occurrence is not identified properly then it will not be possible to determine the
impact of the risks which creates construction within the project progress. Moreover, it is found that the
utilization of failure mode as well as effect analysis approach is considered to be beneficial in
determining the risks.
Resource: Resources are generally interconnected with the cost of the project. It is found that the
amount of money that is mainly available is generally helpful in properly achieving the desired outcomes
of the project that will further restrict the utilization as well as acquisition of the resources that further
helps in creating separate constraint.

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Time: When it generally comes to the time constraint, it is necessary to schedule the project
effectively. For avoiding the time constraint, it is quite important to plot out the realistic timeframe for
completing each phase of the entire project. Moreover, this step generally occurs when the entire project
is generally underway that needs the entire team to properly analyze the different stages of the project
quite effectively.
Cost: A project budget generally includes the fixed as well as variable cost that generally
includes proper materials, labour as well as proper financial impact on the project team members who are
engaged or linked with the project. Therefore, it is quite necessary to estimate the cost of the project quite
effectively with the help of proper cost estimation method for avoiding different types of financial issues
and challenges.
1.7 Key assumptions
The various types of key assumptions that are made during launching of the hostel for the
international students are generally elaborated below:
Time: Time plays an important role in project and for the project manager mainly takes the
overall responsibility of assuming the needed time within the project. For this particular project, it is
found that the time that will be needed will be around 12.35 months.
Involvement of the stakeholders: Stakeholders involvement in the project is necessary and in
this project it is presumed that the project stakeholders are involved fruitfully for finalising the project
effectively.
Budget: Proper budget is required for proper accomplishment of the various project activities. It
is found that $722,680.00 is required for successfully completing the entire project quite effectively.
Quality: Proper quality is generally needed within the project as it considered as one out of the
four pillars of project management. It is assumed that proper quality standards will be followed within the
project in order to maintain the quality of the project effectually.

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1.8 Expected outcome
The expected outcome after launching of the hostel for the international students in Australia, it is
found that the following outcomes of the project goals can be accomplished.
Successful project completion: It is expected that the launching of the hostel for international
students will get finished as per the assumed time and expense of the project
Accomplishment of project objectives: The objectives that are linked to the project will be
achieved positively as per the expectation of the project manager.
Cost effective facility to the international students: It is found that due to the launching of the
hostel for the international students, the organization can be able to provide a number of opportunity of
getting cost effective living.
Excellent service to the international students: It is found that the service that is provided to
the international students is excellent after the launching of the hostel for the international students.
2. Work breakdown structure
It is one of the significant deliverable of the project that generally helps in forming the team work
into manageable sections. The benefit of using the work breakdown structure is that it assists in avoiding
the work from slippage with the help of the cracks. As WBS helps in reflecting the deliverables of the
project that is associated with the project completion (Siami-Irdemoosa, Dindarloo and Sharifzadeh
2015). It generally helps in guiding the project team on what the project needed within a very much
organized way. Another important benefit of using WBS is that it helps in providing the team members an
understanding about the entire plan of the project management.in addition to this, WBS helps in
preventing changes within the project but it generally undertakes both corrective as well as preventive
measures for preventing unclear scope of the project as well as missing requirements of the project
(Połonski 2015).

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PROJECT MANAGEMENT
Figure 1: Work breakdown structure
(Source: Created by Author)
3. Gantt chart
Gantt chart is defined as one of the bar chart that generally supports in illustrating the schedule of
by reflecting the dependency between the associations that is mainly present between the activities as well
the project status effectively. By using the created Gantt chart, proper picture about the project could be
achieved that further assists in giving proper understanding about the project. The bar charts within the
Gantt chart helps in indicating the period that is necessary for particularly finalizing the tasks of the
project (Sathiyanarayanan and Burlutskiy 2015). Most of the project managers, scheduling is
considered as one of the major benefit that is related with the Gantt chart. It is needed to help the entire

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team to properly understand the overall impact of the entire project delays for fostering stronger
collaboration while encouraging better organization of the task is needed.
Figure 2: Gantt chart
(Source: Created by Author)

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PROJECT MANAGEMENT
4. Network diagram
According to Simoni et al. (2014) a network diagram is one of the pictorial depictions within
the entire schedule of the project. Within the project management, a network diagram is mainly used for
preparation as well as tracing the project starting from the project beginning to the closure phase. It is
found that it is mainly considered as the graphical demonstration of all the activities of the project
including the project workflow (Sharon and Dori 2017). It is mainly used for mapping out the schedule
as well as work that is associated with the sequence of the entire project as it generally helps in tracking
the progress within each stage as it generally encompasses every single action as well as outcome that is
linked with the project.
Figure 3: Network diagram
(Source: Created by Author)
5. Stakeholder analysis
Stakeholder analysis is one of the important technique that is mainly used for identifying as well
as analyzing the various needs and requirements of the project. It is found that is utilized for determining
the key stakeholders who generally vested their interest in the issues with which the entire project is

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PROJECT MANAGEMENT
mainly concerned. It is considered as one of the important technique for the identification of the
stakeholders in order to analyze the different needs of the project (Svejvi and Andersen 2015).
Moreover, the stakeholder analysis is utilized for determining the various key stakeholders that generally
vested interest in the issues for which the entire project is generally considered. The main aim that is
associated with the stakeholder exploration is to properly create proper strategic view of the human
institutional landscapes as well as relation that is present within the stakeholders as well as the issues.
The stakeholder analysis table is provided below:
Roles Responsibilities Power Interest
Project manager They takes the entire
responsibility of
activity and resource
planning in order to
regulate the needed
resources for the
project. In addition to
this, they are mainly
responsible for
organizing as well as
encouraging the team
properly, monitoring
project time, cost
estimation for the
budget development.
Moreover, they also
analyses the risk that
High High

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PROJECT MANAGEMENT
are further link with the
undertaken project.
Sponsor The project sponsor is
the individual takes the
entire work of
managing the overall
project accountability
effectively. In addition
to this, they also act as
an authority for making
the needed judgments
that are generally
beyond the project
manager’s authority.
Moreover, the money
for the project is mainly
provided by the project
sponsors.
High High
Finance manager The financial managers
are those who generally
take the responsibility
of collecting,
interpreting as well as
reviewing various
categories of
Low Low

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PROJECT MANAGEMENT
information that is
mainly associated with
the project. Proper
guidance as well as
management of project
expenses are also done
by the financial
manager so that the
project budget can be
utilized quite
effectively and the
organization does not
experiences any
financial issues while
handling the project
work.
Site supervisor The site supervisors
are the individuals who
generally oversees the
various day to day
operations and
generally assists in
providing site safety as
well as security in order
to successfully
implementing the
Low High

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PROJECT MANAGEMENT
various types of sites
policies as well as
procedures. Moreover,
it is found that proper
regular inspections as
well as preservation of
the entire system as
well as equipment are
generally necessary for
properly monitoring the
project effectively.
Contractor The project contractor
provides all the needed
material, manual labour
as well as apparatus
that are generally
compulsory for the
proper construction of
the project. They also
have the responsibility
of hiring the
subcontractors in order
to perform some of the
work which are mainly
connected with
High High

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construction.
Plumber The plumber are the
individual who
generally helps in
interpreting the
blueprints as well as
builds proper
specifications in order
to mapping the entire
layout for the hostel
project.
Low High
System planner The system planner are
generally responsible of
planning as well as
prioritizing the
operations for making
that the system will be
implemented properly
within the hostel in
order to provide proper
service to the
international students.
Low High
Risk manager They identifies the risks
which are related with
the project and analyses
them in order to
Low Low

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PROJECT MANAGEMENT
determine the
probability and impact
identification. They
also helps in properly
resolving the risks with
the help of proper steps
that are generally
undertaken.
Project planner The project planner are
the individuals who are
responsible of
effectively scheduling
the entire workloads
that are connected to
the project and supports
in creating the proper
plan for the project for
successful
accomplishment of the
project goals.
High High
Marketing manager The marketing manager
the individuals who
generally assists in
properly managing the
marketing for the hostel
so that more number of
Low High

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PROJECT MANAGEMENT
international students
get attracted towards
the services of the
hostel and can
generally prefer the
hostel instead of other
hostels that are present.
6. Communication planning
A communication plan is generally defined as one of the policy driven approach that helps in
providing stakeholders with appropriate information (Foster 2018). It is found that the entire plan of
communication that is mainly used by the project team members who are mainly engaged within the
launching of the hotel for the international students.
Audience Message Frequency Vehicle Responsible
Project team Proper discussion
on the goals and
project objectives
are needed for
discussing the
goals of the
project so that the
team can get
important
information about
the project that is
Once Email, Face to
face
Project manager
is mainly
responsible.

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PROJECT MANAGEMENT
presently
undertaken for
accomplishing the
objectives
effectively.
Project manager The team leaders
initiates the
meeting in order
to reflect the
difficulties that
they generally
face while
handling the
project work so
that the project
manager can
generally suggests
steps for
mitigating the
issue.
Monthly Email, face to face Team leaders
Sponsor The financial
manager generally
discuss the
financial issues
that the project
When required Face to face
Financial manager

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PROJECT MANAGEMENT
team generally
experiences while
managing the
project work so
that the project
sponsor generally
provides budget
for managing the
rest of the
remaining project.
Project manager The project
planner generally
arranges a
meeting in order
to discuss the
status of the
project for
showcasing
whether the
project that is
undertaken is on
schedule or
behind the
schedule of the
project.
Weekly Face to face Project planner

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PROJECT MANAGEMENT
7. Risk management
Risk management is one of the procedure that helps in determining, evaluating as well as
prioritizing the risks that is further followed by the coordination as well as cost-effective application of
the resources for reducing as well as observing the probability impact by maximizing the realization of
opportunities within the project (McNeil, Frey and Embrechts 2015). The table that is given below
generally replicates on the risk, their probability as well as impact. In addition to this, the table also
includes risk response that is generally mandatory for properly resolving the issues and challenges within
the project effectively.
I
D
Risk Description Impact Probabilit
y
Response Person
responsible
Timefram
e
1 Schedule
slippage
In project,
slippage
generally act
as the
deadline miss
for a
particular
activity of the
project and
this can
generally
occur if the
project
manager does
not track the
High High The schedule
slippage
problem can
be resolved if
one plan their
projects by
carefully
avoiding the
delays within
the schedule.
Proper
management
of project
plan is
generally
Project
manager
takes the
responsibilit
y of properly
scheduling
the project
and the
responsibilit
y of tracking
the schedule
on a weekly
basis for
avoiding
1 month.

27
PROJECT MANAGEMENT
progress of
the project on
regular basis.
Due to
slippage of
project
schedule, the
entire project
can get
delayed that
further can
cause issues
as well as
challenges
within the
project.
necessary for
managing the
schedule so
that the risks
that are
associated
with the
project can
get resolved.
risks
2 Improper
quality of
materials
If the quality
of the
materials are
not checked
and used for
constructing
the hostel
then there are
number of
number of
Mediu
m
High In order to
resolve the
quality related
issue, it is
quite
important to
check the
quality of the
materials
properly
The quality
analyst take
the
responsibilit
y of
analyzing
the quality
of the
materials for
avoiding
2 months

28
PROJECT MANAGEMENT
issues and
challenges
that generally
can occur due
to occurrence
of quality
related issues.
before using it
within the
project for
avoiding risks
as well as
challenges.
various
types of
quality
related
issues that
occurs
within the
project.
3 Budget
shortfall
If the budget
that is
allocated for
the project is
not enough
and the
project
manager face
a lot of issues
as well as
challenges in
completing
the project
within the
budget that is
allocated. It is
found that
budget
High High In order to
resolve the
budget related
issue, it is
quite
necessary to
track the
expenses of
the project on
a weekly
basis in order
to make sure
that the entire
project is on
track and it
will get
finished
within the
It is the
responsibilit
y of the
financial
manager to
keep track
on the
project
expenses for
avoiding any
type of
financial
issues as
well as
problems.
1 month

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PROJECT MANAGEMENT
related issues
mainly occurs
due to
improper
tracking of
project
expenses.
allocated
budget by
avoiding the
financial
issues.
4 Improper
management
If the entire
project is not
managed
properly then
the project
manager can
generally face
a lot of
problems as
well as issues
in
accomplishin
g the project
goals as well
as objectives
within the
time that is
assumed.
Mediu
m
Medium For resolving
the
management
related
problems, it is
quite
important for
the
management
of the
organization
to generally
take the
initiative of
managing the
entire project
as per the
project plan in
order to
The project
manager or
the
supervisor
general takes
the
responsibilit
y of
managing
the project
by avoiding
the issues
that occur.
28 adys

30
PROJECT MANAGEMENT
achieve the
project goals
as well as
objectives.
5 Lack of
skill
If the
involved
team
members
does not have
proper skill in
managing the
project
effectively
then they
generally face
a lot of issues
as well as
problems in
properly
managing the
project work
due to which
the chances
of project
delay is quite
High Medium It is found
that in order
to manage the
skills of the
project, it is
quite
necessary for
the project
team to get
proper facility
of training so
that they
become
capable in
handling the
work of the
project quite
effectively.
The trainer
generally
takes the
responsibilit
y of
providing
the facility
of training to
the team
members so
that the
project team
can be able
to work
effectively
and can be
able to
handle the
project quite
effectively.
1 month

31
PROJECT MANAGEMENT
high.
6 Improper
promotion
If the
promotion for
the hostel is
not done
properly then
more number
of
international
students will
not get
attracted to
the services
of the hostel
and as a
result the
business will
get impacted
negatively.
High High In order to
resolve the
issue, it is
quite
necessary to
properly
marketing the
services with
the help of
advertisement
s as well as
hoardings so
that the
internal
students can
able to get to
know about
the services
that the hostel
provides.
It is the
responsibilit
y of the
marketing
manager to
properly
implement
the strategies
of marketing
for reaching
to more
number of
international
students for
providing
them better
service at an
affordable
price.
1 month
7 Inappropriat
e blueprint
If the
blueprint that
is prepared
for properly
launching of
High High It is quite
necessary to
prepare the
project
blueprint
It is the
responsibilit
y of the
contractor to
properly
2 month

32
PROJECT MANAGEMENT
the project is
not done
properly then
it generally
can raise a
number of
issues and
problems
within the
entire project.
properly for
avoiding the
risks as well
as challenges
so that the
hostel can be
launched
successfully.
prepare the
blueprint
that include
information
associated
with the
research in
order to
avoid risks
as well as
challenges
that are
related with
the project.
8 Lack of
resource
If the
resources that
are needed
within the
project are
not available
then due to
scarcity of
the resources,
a number of
issues as well
as problems
Mediu
m
Medium It is quite
necessary to
estimate the
required
resources for
the project
before the
initial phase
of the project
so that the
entire project
generally gets
It is the
responsibilit
y of the
human
resource
manager for
managing
the resources
of the
project
effectively
for avoiding
2 month

33
PROJECT MANAGEMENT
can generally
occur within
the entire
project.
completed
within the
expected
budget as well
as time.
the issues
and issues
that are
mainly
related with
the project.
8. Allocation of ratings to each potential risks
ID Risk Impact Probability
1 Schedule slippage High High
2 Improper quality of
materials
Medium High
3 Budget shortfall High High
4 Improper management Medium Medium
5 Lack of skill High Medium
6 Improper promotion High High
7 Inappropriate blueprint High High
8 Lack of resource Medium Medium

34
PROJECT MANAGEMENT
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