Project Management Report: Developing a Major Workplace Project

This report provides an overview of a project focused on developing a major workplace for business functioning, emphasizing the importance of effective workplace management for increased productivity. It includes a detailed stakeholder analysis, identifying and characterizing various stakeholders such as society stakeholders (customers, business partners, suppliers), employees, business stakeholders (owners, competitors, investors), and creditors, and their respective requirements. The report further analyzes the resources required to facilitate the project, including time management, human resources, employee morale, and strategic development. It assesses the risks associated with business planning and discusses risk management strategies such as transferring, avoiding, and sharing risk. The report also touches upon research methodologies for determining stakeholder satisfaction, including observation, experimentation, and derivation. The conclusion highlights the importance of time and budget limits in project management and the different project management types, such as waterfall and agile.

Project management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................4
Overview of the project..........................................................................................................4
Analysis of stakeholders and their requirements....................................................................4
The analysis of the required resources to facilitate the project..............................................6
Assessment of risk associated with business planning...........................................................7
Critical analysis of path of project with the application of Gantt chart..................................9
Evaluation of research methodology to determine stakeholder satisfaction........................11
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Project management is planning and developing of company's resources in such a way to
perform any duty, task or event in an organisation. It can either be a one time project or any
ongoing activity (Aanbari, and Kwak, 2018). Resources which help to complete any task or
business activity in an organisation includes the finances, personnel, intellectual property and
technology. In this report '' Developing a major workplace for business functioning” project is
taken into consideration. This report includes overview of project along with various types of
resources which are required to complete a project in a precise manner. This report also includes
analysis of stakeholders who play an important role as a major part of the project. This project
also includes assessment of risk associated with different operations in order to minimise the
project related resources.

MAIN BODY
Overview of the project
The project is based on developing favourable working conditions for employees in a
business organisation. In the recent times, it is important for a business to develop effective work
place management in order to increase the productivity. All the major companies in the
marketplace focus on management of workplace in order to achieve desired goals and objectives.
In order to increase value of workplace, it is important to develop a focused strategy for long
term business development in order to analyse business goals. The workplace conditions are hard
to develop, so there is a need to implement project. Also it is key responsibility of a person to
focus on strategy and development related to management of a project in order to get the best
result. Project management is considered as a major approach which is helpful in completing all
the necessary tasks and functions related to a project (Project management meaning in detail
with aspects, 2021).
Analysis of stakeholders and their requirements
Stakeholders are key interest holders in a company who take active participation in major
functions of a company (Badiru, 2019). The stakeholders are important to be served by a
business entity in a well defined manner for long term support and development. In the current
corporate world, it is major responsibility of a business to focus on key functions in order to
develop focused approach. This analysis is beneficial for identifying them and characterize them
in order to preference which is given below in context of project management:
 Society stakeholders: This include customers, business partner, supplier. Customers
are the real market shareholders. They are important because of them company earn
revenues they are king of market without them a business cannot run. To maintain
customers satisfaction level company need to provide good quality product. Suppliers
sells goods and services to a business with maintaining the quality and price level. A
business is relay on suppliers and they are direct stakeholders of the company.
 Employees: They are the crucial assets of a company and they have direct stakes in the
company. A businessman need employee for their organisation to accomplish their day to
day tasks and several projects. A businessman give several types of schemes and

incentives as per their assigned task. And a employee provide time and skills for a task
and demand job satisfaction, security, good working environment and income. Thus, it
becomes important for a company to focus on key goals and objectives for long term
business goals achievement.
 Business: This include owner, competitor and investors. A owner is person who stakes
100 percent share in a company he has all the power in their hands regarding selling and
buying that take place in a company (Brewer, and Dittman, 2018). Competitor of the
company pay attention on the business profitability and productivity and try to compete
them. Investor is the person who buy share of the company they can be individual or an
institution and they provide risk capital to the company.
 Creditors : A business organisation need finance to run their business. creditors are
those who provide loan and finance to the company. They are banks and other financial
institutes . Loans are used to do day to day operation or used in companies capital to
support business organisation. Before providing loan they check the companies
profitability and reputation in market (Copola Azenha, Aparecida and Leme Fleury,
2021). They use credit rating techniques to analyse companies capabilities. The creditors
are important source of funding for an organisation and it is ethical duty of a company to
take care of its creditors.
From the above discussion it has analyse that customer are the direct shareholder of the
company they influence the market directly. For increasing the company capital businessman
require finance that he get from creditors. It is essential for managing a project to perform
stakeholder analysis in a well defined manner for company's growth.

The analysis of the required resources to facilitate the project
In order to develop effective approach in development of whole project, there is a crucial
requirement of effective resources. Also it is very much crucial for a project manager to analyse
the usage of all resources in an optimum manner (Fewings, and Henjewele, 2019). It is major
responsibility of a company to focus on key goals and objectives of project in order to increase
value of project. The main resources which will be required to develop workplace management
are mentioned below:
 Time management- Time is the most important resource which plays an important role
in development and completion of a project. With the help and support of time
management, it is crucial for a project manager to prepare a major time- table. Routine
tasks related to a project are completed with the support of time management and
different parameters related to it.
 Human resources- It is one of the most important factors, that is helpful in increasing
workplace management according to need of organisation. The organisation should hire
professionally skilled and trained workers in the human resource management for
development of whole business entity. In the management of conflicts and culture in a
business entity, human resource management play a vital role which also leads to
development of the workplace (Kerzner, 2017). In the project management, this approach
is also beneficial for increasing competitive strength of a company by developing desired
working conditions.
 Focus on morale and values of employees- It is very much essential and necessary for a
project manager to include and develop morale of employees. This will help the company
to achieve long term business targets and also increase productivity of different
employees. In management of whole project, it is compulsory for the business entity to
develop ethical values in employees for stopping major conflicts.
 Development of a strategy- Last but not the least, strategic development is a major
requirement in this project management. The strategy should include an appropriate
planing framework for business development and workplace management. Formulation
of a strategy is also helpful in eliminating risk associated with the operations(Kerzner,
2018). Strategy in a business entity can be developed with the support of top level
management and board of directors of a company for performance management.

Assessment of risk associated with business planning
The business planning is an important term, which helps a business to grow in a sustainable
manner. Majority of business entities in international and national marketplace focus on
development of business planning in order to gain competitive advantage in a set period of time.
In order to increase the efficiency and effectiveness of a company, it is important to develop
precise and systematic business planning. All major parameters of business planning also
includes, application of a focused policy which is designed and formulated by professionals. In
the era of stiff competition between different companies, it is compulsory for a business
organisation to formulate effective business planning for gaining desired success at the
marketplace. All major companies in domestic or global marketplace focus on planning approach
to get desired goals and objectives in a short span of time. Risk management is essential for a
company to develop transparent approach at the marketplace in order to deal with major aspects
of business growth (Rodríguez-Rivero, Ortiz-Marcos, and Lozano, 2020). The risk associated
with business planning can impact negatively on various operations and functions of a business.
Risk management in a company should be performed by top level management in order to
develop a professional and systematic approach in corporate world. In the current scenario
business entity can use the following approaches to deal with risk management:
 Transferring risk- In this concept or model of risk management, a company can transfer
whole risk as a major diversion. This helps a company to focus on operations with no or
minimum risk, which leads to develop increase in profitability. The main task of
management in transferring a risk is to completely shift market risk to other business
entity.
 Avoiding risk- Avoiding risk is mostly practised in large organisations which are
competing in international marketplace. The avoidance of risk includes, ignoring all
major risk associated with operations of a business. Risk management models are also
effective in development of a focused approach for business development. The risk is
measured in the first stage and in second step it is completely transferred to other source.
Avoidance of risk is practised mostly by multinational companies in order to increase the
competency edge at the marketplace.
 Sharing risk- This is the most common risk management tool which is used by majority
of organisations in global marketplace. Sharing of risk includes dividing a risk into

different parts by a business, then perform majority of operations. In the development of
a business, sharing risk is helpful in minimising burden or pressure associated with
different operations. In project management also sharing of risk, increase profitability of
the organisation and also increases its strength.

Critical analysis of path of project with the application of Gantt chart

Evaluation of research methodology to determine stakeholder satisfaction
Stakeholder are the people who have interest in any de-cession or a activity of a business
organisations and a companies decision may affect them. they can be internal or external. Here,
are some examples: internal staff, investors, suppliers, owner, non-government organisations.
The process of identifying these stakeholders is known as stakeholder analysis. The research
methodology which can be used to determine stakeholder satisfaction is mentioned below:
 Observation- The observation is related to mental selection of a information after
conducting a deep analysis (Rowe, 2020). Also the observation is important for a
researcher for conducting whole research in a smart and effective manner. In order to
develop effective techniques in observation, it is essential for a researcher to take mental
support from seniors and management.
 Experiment- By performing practical experiments related to a information, a researcher
can easily develop experimental approach. This helps in development of overall decision
making by the business organisation in order to develop effective and major decisions.
This methodology can increase participation of stakeholders in a company along with
management of whole project related to particular life cycle.
 Derive- This methodology can be useful in increasing stakeholders engagement in
company's operations and activities. The derivation of information related to a particular
subject matter is also slightly related to particular research. Most of the companies in
international marketplace focus on this approach for derivation of optimum solution from
a given problem.

CONCLUSION
From the above discussion it can be concluded that project management also have the
time limit and budget limit to complete an project according to the company's requirement. From
the above stated report it can be concluded that there are three types of project management
waterfall project management, agile project management and lean project management which are
effective in development of a project. This project concludes that project management involves
planning, monitoring, initiation, execution and closing of a project.