International Project Management Risk Analysis

This assignment focuses on quantitative risk analysis within the context of international project management, specifically in emerging economies. It delves into budget allocation frameworks, communication strategies, and the role of philosophy in project management. Concepts like expected opportunity cost, enterprise risk management models, and building information modeling are also discussed.

Project Management: Security
System Update of building
(Software)
1

Table of Content
INTRODUCTION................................................................................................................................3
Project background or overview......................................................................................................3
Project target, objectives and critical successive factors (CSF)......................................................4
Assumptions of budget preparation...............................................................................................10
Project scope..................................................................................................................................12
Identifying risk and constraints affecting the project....................................................................12
Assumptions of resources..............................................................................................................13
Project structure.............................................................................................................................14
Control mechanism for the project implementation......................................................................16
Communication plan for the reporting...........................................................................................16
CONCLUSION..................................................................................................................................17
REFERENCES...................................................................................................................................18
2

INTRODUCTION
Project management is the methodological approach that establish and follows principles, rules
and regulations to manage the project successfully. In accordance with the Project Management
Institute (PMI), project management has been defined as the application of skills, knowledge, tools
& techniques to the planned business activities and operations to reach the defined goals. It is an
ongoing activity which comprises various managerial aspect like planning, organizing, resource
management, controlling and others (Heagney, 2016). The present project management aims at
designing project schedule, scope, identifying resource requirement, estimate cost and time, risk
mitigation and quality management approaches for a new software development project. In the
report, a new software, Building Management System will be constructed for developing security
system.
Project background or overview
Building Management system (BMS) is a computerized software or controlled system that can
be installed in the buildings to monitor and control different things such as mechanical & electric
equipment, power system and security system as well. It consists of various software and hardware
system which are integrated using various protocols i.e. Profibus, C-bus and others. With the current
project, BMS will be developed to access control via door access & security system i.e. CCTV
footage, fire alarms and other detectors (Antunes, Soares and Gomes, 2017). The system allows
building managers to understand the functioning of the building operations and enable them to put
effective control system as well. It helps in data visualizing, automatic report collection, creating
alarm & alert system for the security and others. The system provides a single platform and
interface system to control various operations of the building. With the help of this, effective &
rationalized decisions can be made to satisfy the occupants of the building and exceed their
expectations (Wang, Zhao and Ning, 2017).
BMS functions
 Effective control over internal function and environmental conditions of the building
 Automatic collection of reports
 Handling complaints
 Optimum allocation of resources
 Security and safety
3

Project target, objectives and critical successive factors (CSF)
Goal/Mission: The key objective behind developing the new security software system, BMS is
to ensure proper safety, security and managing internal operations of the building to satisfy the
building occupants.
4

Task Name Duration Start Finish Predecessors Resource Names Cost Total
Slack
Building
Management
System
112 days Wed
5/10/17
Thu
10/12/17 £7,035.00 0 days
Initiation phase 23 days Wed
5/10/17 Fri 6/9/17 £200.00 0 days
Setting the
target goals of BMS
implementation
5 days Wed
5/10/17
Tue
5/16/17
Data base
designer, Project
manager
£40.00 4 days
Finding possible
risk 6 days Wed
5/17/17
Wed
5/24/17 3
Finance Manager,
IT
manager ,Project
manager
£50.00 4 days
Setting
stakeholders
expectations
4 days Thu
5/25/17
Tue
5/30/17
IT
manager ,Project
manager
£40.00 0 days
5

Proper and
adequate
documentations,
comntracts and
agreements
5 days Wed
5/31/17
Tue
6/6/17 5,4
Data base
designer, Project
manager
£40.00 0 days
Communication
plan to report the
project team
3 days Wed
6/7/17 Fri 6/9/17 6,5
Finance Manager,
Graphic
designer ,Project
manager ,Quality
manager,
Software
developer
£30.00 0 days
Planning phase 21 days Mon
6/12/17
Mon
7/10/17 £125.00 0 days
Setting out
operational plans
and policies
6 days Mon
6/12/17
Mon
6/19/17 7,6
Data base
designer, Finance
Manager, Quality
manager,
Software
developer, IT
manager
£30.00 0 days
Identifying
resource
requirement i.e.
human source,
funds and
equipments
8 days Tue
6/20/17
Thu
6/29/17 9
Finance Manager,
IT
manager ,Project
manager ,Softwar
e developer
£50.00 0 days
Plan for
managing risk 6 days Tue
6/20/17
Tue
6/27/17 9,7
Finance Manager,
IT
manager ,Project
manager
£25.00 2 days
Deciding
structure 7 days Fri
6/30/17
Mon
7/10/17 10,11 Project manager £20.00 0 days
Execution phase 28 days Fri
6/30/17
Tue
8/8/17 £4,830.00 5 days
Collection of
funds 10 days Fri
6/30/17
Thu
7/13/17 10,9 Finance Manager £140.00 5 days
Hiring project
team i.e. technical
expert, website
developer and
others
8 days Tue
7/11/17
Thu
7/20/17 12,11
IT
manager ,Project
manager ,Quality
manager,
Software
developer,
Training manager
£1,500.00 0 days
Purchase
hardware and
software license
and others
12 days Fri
7/21/17
Mon
8/7/17 15
Finance Manager,
IT
manager ,Project
manager ,Softwar
e developer, Data
base designer
£3,000.00 48 days
6

Testing system
functioning 8 days Fri
7/21/17
Tue
8/1/17 15,14
Project Team,
Quality manager,
Graphic
designer ,IT
manager ,Softwar
e developer
£150.00 0 days
Updating the
plan 5 days Wed
8/2/17
Tue
8/8/17 17
Data base
designer, IT
manager ,Quality
manager
£40.00 0 days
Monitoring and
controlling phase 33 days Wed
8/9/17
Fri
9/22/17 £680.00 0 days
Continue
monitoring of the
system functioning
and work execution
10 days Wed
8/9/17
Tue
8/22/17 18
IT
manager ,Project
manager ,Project
Team, Training
manager
£200.00 0 days
Regular
reporting 6 days Wed
8/23/17
Wed
8/30/17 20,17
Graphic
designer ,Project
manager ,Training
manager ,Project
Team, Quality
manager
£140.00 0 days
Conducting
meetings 5 days Wed
8/23/17
Tue
8/29/17 20
Finance Manager,
IT
manager ,Project
manager ,Quality
manager
£70.00 1 day
Analyzing the
risks 6 days Thu
8/31/17
Thu
9/7/17 21,22
Finance Manager,
Graphic
designer ,Project
Team, Software
developer
£90.00 0 days
Examining the
progress by
comparing the
performance with
the targets
8 days Fri 9/8/17 Tue
9/19/17 23,22
Finance Manager,
IT
manager ,Project
manager ,Project
Team, Quality
manager
£100.00 0 days
Altering the
plan 3 days Wed
9/20/17
Fri
9/22/17 24,22,23
Finance Manager,
IT
manager ,Project
manager
£80.00 0 days
Closure phase 14 days Mon
9/25/17
Thu
10/12/17 £1,200.00 0 days
Contract closure 3 days Mon
9/25/17
Wed
9/27/17
25 Finance Manager,
Project
manager ,Quality
manager,
Software
£300.00 0 days
7

developer,
Training
manager ,Graphic
designer
Completing all
the contractual
terms and the
conditions of
agreement
5 days Thu
9/28/17
Wed
10/4/17 27,25
Data base
designer, Finance
Manager, IT
manager ,Project
manager ,Training
manager
£400.00 0 days
Post-project
appraisal and
review
4 days Thu
10/5/17
Tue
10/10/17 28,25
Finance Manager,
IT
manager ,Project
manager
£300.00 0 days
Submitting the
final report to the
project manager
2 days Wed
10/11/17
Thu
10/12/17 29,27,28
Data base
designer, Finance
Manager, Graphic
designer ,IT
manager ,Project
manager ,Project
Team, Quality
manager,
Software
developer,Training
manager
£200.00 0 days
Gantt chart
8

9

10

Network diagram:
From the results, it is founded that the project of BMS implementation will take the time
period of 112 days.
Assumptions of budget preparation
Budget measures the estimated costs that the new software implementation project, BMS
will incur (Gao, Chen and Shi, 2017). It is a financial framework that is helpful to determine the
sum of total spending to design, develop and implement the new software for the purpose of
security of the building occupants.
11

Particulars Amount ( In GBP)
Acquiring software license 1500
Database license 2500
Hardware purchase 200
Equipment cost 2000
Server 1000
Networking cost (LAN, WAN & others) 800
Human resource salary 2000
Total 10,000
Objectives:
1. To complete the design of new building management software within the target time limit of
4 months
2. To finish the project within the budgeted monetary limit of 10,000 for software acquisition,
licensing, infrastructure development, hardware and equipment purchase and payment of
salary to human resources.
3. To maintain adequate security through CCTV, Access control, intruder alarms, fire control
panel and detectors.
4. To create a computerized web platform and user interface for the centralized control and
operations
5. To monitor and control various functions such as energy management, power consumption,
room occupancy, HVAC (heating, ventilation & air-conditioning)
6. To generate various reports to examine the building operations and performance
Critical successive factors (CSF)
Experienced and talented designers: The key requirement for the project planner is to have
highly skilled and talented software designer who can understand the actual requirement of the new
software and design exactly the security system software as per specification.
Competent personnel: It is also an essential requirement to have competent team-members
such as graphic designer, configuration management, technical experts, financial specialists,
engineers, consultants, coordinators and other team members so that they can execute their tasks
and responsibilities in an effective manner and attain goals (Turner, 2016).
Risk management: Every project has several risks and in BMS, various factors like
technical failure, scope creeping, lack of funds and others may cause risk which is required to be
managed effectively so as to minimize possible threats and ensure successful running.
12

Time and cost management: It is necessary to execute work as per the planned activities
along with the time schedule, so that, BMS can be designed with the decided time. Moreover, fund
management is also necessary to not exceed the actual costs beyond targeted limit.
Effective communication: In order to aware the team members regarding set plan, policies
and procedure, effective communication is necessary. Moreover, subordinates have to report their
respective authorities on time, so that, they can examine that whether operations are going in line
with the project plan or not (Steyn and et.al., 2016). Thus, it is also a key requirement under CSF
and encourage project planner to strengthen the communication procedure and system.
Project scope
Project scope is an important part of the project planning which determines various activities
and functions that will be involved in the project to attain the decided goals and deliverables. It is
important for the project manager to define the scope of the project very clearly so as to set
boundaries which will be covered in the BMS software development and up gradation. BMS project
is a capital-intensive project which mainly comprises energy management system, security system,
fire alarm, control panel, security alarm, detectors, power and lighting management system, HVAC
system & so on. The criteria of the project also covers gathering reports for the managerial purpose
to examine and analyse the building functionality so as to ensure successful and smooth running.
Standardized software system provides facilities to the multi-users (Konstantinou and Müller,
2016). It will also find out the areas where existing software’s functionality is poor and unclear, so
that, in the new software, such difficulties can be combat through introducing unique and innovative
features. Here, under the industrial standard protocol, BACnet, Modbus and Lonworks will be used
for the new system software development. In this, two advanced features will be introduced that are
high level interface and energy optimizing as well which will enable the project manager to create
an unique online platform to ensure proper safety, security and managing internal operations of the
building to satisfy the building occupants (Wang, Zhao and Ning, 2017)..
Identifying risk and constraints affecting the project
Every project contains several risk which is required to be managed effectively with the
proper planning, monitoring and controlling. With the current project, the main focus of the project
planner is to introduce Building Management System as a security system to provide adequate
safety to the building occupants through various arrangement like CCTV, alarm, security system
and others. In the current times, rapidly increasing rate of cyber-attack is the main risk exists, in
which, hackers may hack the site and cause hurdles in the operations (Enyinda, 2017). This illicit
remote access potentially cause harm and catastrophic impact on the security system. It can threaten
13

the building and arise commercial harm & hamper the reputation to a great extent. Apart from this,
carelessness of the staff, contractors and other team members may damage the system functioning
due to plugging an infected removable devise to the system terminal (Papke-Shields and Boyer-
Wright, 2017).
Here, the risk can be controlled and successfully addressed through the implementation of
appropriate procedure like Firewall to ensure remote system security. Moreover, technical failure
may be arisen which can be mitigated by regular consultation with the IT departmental team who
are accountable to upgrade the system, find out the technical errors and remove it. Thus, BMS
security is the main success criteria of the current project by which firm can attain their targets.
Besides this, scope creeping and communication barrier are the possible threats in the system design
which only can be eliminated by designing effective communication policies and procedures so that
project manager can inform the team members about the project plan, schedule and other
information and subordinates can deliver timely reports to their respective seniors to make remedial
actions on the right time (Olson and Wu, 2017).
Assumptions of resources
Resource requirement: The new software implementation of BMS will require various
resources that are mentioned below:
 Equipment i.e computer system
 Purchasing software
 Hardware i.e. Advanced application, smart actuator, transmitters, smart touch screen
 Networking
 Human resources i.e. technical expert, team leaders, software developer, graphic designer
 Adequate funds and cash money
Cost: The development of new project plan has been estimated to incur a cost of 10,000
GBP for the development of new and innovative security software to provide safe and secure
environment to the building occupants.
Time: The software designing project is expected to be completed within the time period of
6 months.
Deliverables:
 Designing a single web platform to manager multi-purpose building operations i.e. energy
management, power utilization, room occupancy control and other
 Ensuring adequate and proper security and safety to the people through CCTV, fire alarm,
security alarms, detectors
14

 Monitoring and controlling internal business activities and operations of the building
 Generating reports automatically from the software and analyse it to make viable and
qualitative decisions and ensure streamline operations
Project structure
Structure: It is a hierarchy which clearly presents the decision-making authority of the
project and the reporting structure stating the responsibility of subordinates towards their superiors
(Oti and et.al., 2016). With the current project of new security system software, the structure will be
as follows:
The project of new software development will require a team of various members who will
be assigned with the following roles and responsibilities that has been presented here as under:
Staff Roles & responsibilities
Project manager  To make strategies, project plan, decide schedule and scope
as well
 To assess resource requirement for the project
 To administrate and monitor regular operations with the
planned activities
 To motivate team members consistently to meet goals
15

 To create risk management plans and quality assurance
policies
IT manger  To detect technical failures and eliminate it
 To deliver technical advices and update the system for
smooth functioning
 To develop infrastructure for the BMS implementation
 To create profiles and maintain proper security of the network
Quality manager  To design quality management & assurance plans and
policies
 To establish the quality standards
 To alert the team members towards quality concern issues
 To take remedial & corrective actions to improve the system
quality
Software developer  To understand the requirement and design an unique security
software BMS as per the specification
 To identify the issues in the existing software and introduce
new advanced features like high level interface and energy
optimizing
Training manager  To create training schedules for the staff members
 To launch training programme
 To interact with the project team members to identify the
training needs and launch training accordingly
Graphic designer  To introduce graphic in the website and update it
 Creating visual images and design layout of the system
Finance manager  To ensure procurement of required funds and capital to meet
financial requirement
 To ensure effective utilization of funds
 To monitor regular functioning and make cost-curtailment
strategies
Project team  Took active participation in the team meetings and follow the
rule and regulations
 To cooperate and co-ordinate with the team members to meet
goals
 To provide ideas and suggestions for the quality assurance,
regular monitoring and controlling
Database designer  Assessing and examining the functionality of the system
 System-testing
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Control mechanism for the project implementation
Project control is an important and inevitable part of every project, in which, project
manager control the whole system so as to minimize the gap between project planning and its
execution and implementation. There are various ways to implement control in a project that are
presented here as under:
Setting standards: Project manager will decide the standard targets against which actual
performance will be measured to figure out the deviations and thereby right control can be executed
to overcome barriers and reach goals.
Quality management policies: Every team member will be responsible to follow and
adhere with the quality management policies and regulations to assure effective functioning of the
BMS and proper security system for the people (Sinha, Priya and Khowas, 2017).
Monitoring: Project manager will continuously and consistently monitor the actual work
execution practices with the standards or set targets. With the help of this, timely control can be
implemented to overcome barriers and attain goals. Further, regular reporting by the subordinates
will be fruitful for the project to implement the control.
Staff meetings: Meeting will be held to find out the areas where improvements are needed
and difficulties can be detected. It enable managers to make proper planning to combat difficulties
and ensure successful operations (Keller, Parameswaran and Jacob, 2011).
WBS: This is a tool that divides the multiple of activities involved in the project plan into
sub-components like creating the site, designing graphics, test, management of database and others.
Communication plan for the reporting
It is necessary for the project manager to design an efficient communication plan to convey
strategies, information and others and generates reports so as to ensure smooth functioning
(Communication plan, 2012).
Way of
communicatio
n
Targets Channel Time Stakeholder
s
Deliverable
Kick-off
meetings
Transferring the plan of
the project, decided
scope and target
strategies
Once per
week
Manager of
the project
Agenda
17

Conducting
team meetings
Examining the project
work progress to take
remedial measures
Meeting at
the
Conferenc
e hall
Once in a
week
All the
project team
members
Project schedule
And Meeting
minutes
Agenda
Technical
designing
meeting
Reviewing and
examining the technical
errors and implement
right solution
Discussing technical
designing issues and
find out the right
solution
Face to
face
Accordin
g to the
necessity
IT manager,
software
developer,
graphic
designer and
software
designer
Meeting minutes
Agenda
Project status
report
Communicating the
performance to the
project manager
Electronic
mail
through
intranet
Each
month
All the
project team
members are
invited
Project schedules
Work reports
CONCLUSION
From the report conducted, it is clear that not only the construction of project plan is sufficient
but managers must ensure its regular monitoring and controlling so that right remedial actions can
be made on right time to streamline the operations. From the constructed BMS implementation, it is
founded that it will take a time period of 112 days which is below the target time period set of 4
months. With the implementation of the plan, project manager can design and install the innovative
software for the purpose of monitoring, administrating and monitoring the electric equipment,
power system, security system and other utility in the building which helps to maintain adequate
security.
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REFERENCES
Books and Journals
Antunes, C.H., Soares, A. and Gomes, Á., 2017. An Integrated Building Energy Management
System. In Mediterranean Green Buildings & Renewable Energy. Springer International
Publishing. 10(2). pp.191-199.
Enyinda, C.I., 2017. Quantitative Risk Analysis for International Project Management and Programs
in an Emerging Economy. In Leadership, Innovation and Entrepreneurship as Driving
Forces of the Global Economy. Springer International Publishing. 10(2). pp.769-780.
Gao, S., Chen, W. and Shi, L., 2017. A new budget allocation framework for the expected
opportunity cost. Operations Research.
Heagney, J., 2016. Fundamentals of project management. AMACOM Div American Mgmt Assn.
Keller, K.L., Parameswaran, M.G. and Jacob, I., 2011. Strategic brand management: Building,
measuring, and managing brand equity. Pearson Education India.
Konstantinou, E. and Müller, R., 2016. The role of philosophy in project management. Project
Management Journal. 47(3). pp.3-11.
Olson, D.L. and Wu, D.D., 2017. Enterprise Risk Management in Projects. In Enterprise Risk
Management Models. Springer Berlin Heidelberg. 12(3). pp.161-173.
Oti, A.H. and et.al., 2016. A framework for the utilization of Building Management System data in
building information models for building design and operation. Automation in Construction.
72(12). pp.195-210.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to
project management. International Journal of Project Management. 35(2). pp.169-179.
Sinha, K., Priya, A. and Khowas, M., 2017. A Framework for Budget Allocation and Optimization
Using Particle Swarm Optimization. In Advances in Computational Intelligence:
Proceedings of International Conference on Computational Intelligence 2015. Springer
Singapore. 14(5). pp.149-158.
Steyn, H. and et.al., 2016. Project management: A multi-disciplinary approach.
Turner, R., 2016. Gower handbook of project management. Routledge.
Wang, Z., Zhao, Y. and Ning, X., 2017. Integrated Information Management System of Building
Materials Based on BIM Technolo gy in Life Cycle Carbon Emissions. In Proceedings of
the 20th International Symposium on Advancement of Construction Management and Real
Estate. Springer Singapore. 12(3). pp.345-353.
Online
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Communication plan. 2012. [Online]. Available through:
http://www.projectmanagementdocs.com/project-planning-templates/communications-
management-plan.html#axzz4evPQdnFf. [Accessed on 21th April 2017].
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