Business Report on Stakeholder and Risk Management for Construction of World Class Attraction and National Heritage Site

This business report focuses on stakeholder and risk management for the construction of a world-class attraction and national heritage site. It includes a project plan, process for recording lessons learned, and reflection on project management skills.

Running head: BUSINESS REPORT
Business Report
Name of the Student:
Student ID:
5721144
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Author’s note

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Table of Contents
Introduction......................................................................................................................................2
Part 1................................................................................................................................................2
Stakeholder Management............................................................................................................2
Risk Management........................................................................................................................3
Project Planning...........................................................................................................................6
Process for recording the lesson learnt........................................................................................8
Part 2................................................................................................................................................8
Reflection of Project Management Skills....................................................................................8
Conclusion.......................................................................................................................................9
Bibliography..................................................................................................................................11

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Introduction
The following assignment is based on the alignment of the operations that would help in
execution of the improved project operations. The development of the activities would be helpful
for executing the implementation construction activities (Schwalbe 2015). The natural heritage
site would be constructed for the alignment of the activities supporting the implementation of the
successive construction activities. The allowance would be aligned for the significant
development of the functions would be formed for listing the utilization of the effective
implication of the successful stakeholder management, risk management, project planning, and
lesson learnt from the study. The successful reflection of the project management skills would be
aligned for the complete report.
Part 1
Stakeholder Management
The project of construction of world class attraction and national heritage site would
require the implication of the effective development and processing (Walker 2015). The project
would include a number of stakeholders for executing the project and it would support the
implication of the effective roles and responsibilities for supporting the implication of the
effective activity development. The stakeholder management involve the identification of the
stakeholders, analysis of the stakeholders, and stakeholder communication plan development.
The identification of the stakeholders in based on the roles played by them for the project of
construction of world class attraction and national heritage site. The stakeholders are the key
personal that are directly or indirectly affected by the project activities. The stakeholders have
some influence, expectation, and power in the execution of the project activities (Fleming and

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Koppelman 2016). The analysis is based on these criteria so that the completion of the project
can assist the development of the operations. The influence and power of the stakeholders can be
divided into categories of high, low, and medium. The analysis can also be helpful for defining
the influence of the probable project development. The communication plan is based on the need
for transferring the information to the stakeholders. It is important for managing the
communication with the stakeholders as it would help in ceasing the influence and power factors
for the project (Heagney 2016). The stakeholder management for the project is given below,
Stakeholder Roles Influenc
e Power Communication
Client
In charge of acceptance or
rejection of the final project
deliverable
High High Progress Update of the project
is required by the client
Investors Provide initial investments
for the project activities High High Resource Usage documents
are submitted to the investors
Visitors
End users of the cultural
heritage building for the
general entertainment
purpose
Low High
Inauguration and publically
availability of the heritage
building would be conveyed
to the visitors
Government
Inspection of the site to
check whether construction
activities have followed all
safety measures
High Low
Completion and safety details
of the heritage site developed
would be conveyed
Project
Manager
Ensure that all activities are
completed and project
meets the SLA with the
client
Low High Progress, Issues, and change
requirements in the project
Risk Management
According to Bessis (2015), Risk Management is the process of reducing the possible
impact of the risk factors in a project operation. The project of construction of world class
attraction and national heritage site would be dependent on the various construction activities
and it would tend to involve many risk factors like lack of construction materials, interjection by

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locals, quality issues, unapproved designs, and overshoot of time and budget constraints. These
five are the major risks that can impact the completion of the construction activities. The risk
management can be divided into risk identification, analysis, and mitigation (Glendon, Clarke
and McKenna 2016). The process of risk management comprises of the development of the
effective and smart influence of the risk factors on the project of construction of world class
attraction and national heritage site. The risk management is initiated by the process of risk
identification for the construction project. The various possible risks that can affect the project
completion are listed in this process. The risk factors would result in forming the major problems
for the smooth operation of the project activities (McNeil, Frey and Embrechts 2015). The
analysis is done by analysing the possible impact, probability, and the severity of the individual
risk factors. The implication of the risk analysis can be used for the formation of the major risk
factors. The following table would show the risk management requirements for the project of
construction of world class attraction and national heritage site,
Risk Identification Risk Analysis Risk
Mitigation
Name Description Probability Severity Impact Mitigation
Strategy
Lack of
Construction
Materials
The construction project would
require a number of
construction materials and
shortage of the materials would
lead to this problem of shortage
of resources. The lack of
materials would result in
delaying the completion of the
construction activities for
project of construction of world
Possible Major High Resource
Management
Plan should be
project

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class attraction and national
heritage site.
Interjection by
Locals
The locals can probably
interject in the construction
process due to the noise and air
pollution that might occur
during the construction
activities. The locals play an
external role in influencing the
project as most of the activities
of the project would be
dependent on the execution
support by the local
community.
Rare Moderate Medium
Social
Gatherings for
influencing
people
Quality Issues
Quality issues are another
major factor that would result
in forming the major problem
for the development of the
cultural heritage building for
the project of construction of
world class attraction and
national heritage site.
Likely Critical Extreme
Quality
Management
Plan should be
developed for
this problem
Unapproved
Designs
The unapproved and
unreviewed designs of the site
would also result in forming
the major setback for the
project operations. The
construction activities might
not get completed due to this
problem.
Rare Major Medium
Design testing
and approval
process should
be used
Overshoot of
Time and
Budget
Constraints
The delay of the project
activities due to the various
possible project problems. The
delay in project would result in
Almost
Certain
Minor Low Schedule and
Budget
Management
Plan should be

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forming the problems for the
client in overcoming the
possible issues.
used
Project Planning
The following is the project plan for the project of construction of world class attraction
and national heritage site,
WBS Task Name Duration Start Finish
0 Construction of world class attraction and national
heritage site 86 days Mon
6/25/18
Mon
10/22/18
1 Initialization 10 days Mon
6/25/18 Fri 7/6/18
1.1 Analysis of requirements 3 days Mon 6/25/18 Wed 6/27/18
1.2 Documentation 2 days Thu 6/28/18 Fri 6/29/18
1.3 Tender Development 4 days Mon 7/2/18 Thu 7/5/18
1.4 Tender Submission 1 day Fri 7/6/18 Fri 7/6/18
1.5 Project Approval 0 days Fri 7/6/18 Fri 7/6/18
2 Planning 14 days Mon 7/9/18 Thu 7/26/18
2.1 Sorting out construction activities 5 days Mon 7/9/18 Fri 7/13/18
2.2 Listing them in sequential method 3 days Mon 7/16/18 Wed 7/18/18
2.3 Scheduling them in timeline 4 days Thu 7/19/18 Tue 7/24/18

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2.4 Reviewing Project Plan 2 days Wed 7/25/18 Thu 7/26/18
2.5 Plan Approval 0 days Thu 7/26/18 Thu 7/26/18
3 Construction 55 days Fri 7/27/18 Thu
10/11/18
3.1 Site Clearing 6 days Fri 7/27/18 Fri 8/3/18
3.2 Office Site Set up 4 days Mon 8/6/18 Thu 8/9/18
3.3 Safety Equipments are installed 3 days Fri 8/10/18 Tue 8/14/18
3.4 Transportation Set up 2 days Wed 8/15/18 Thu 8/16/18
3.5 External Structure is developed 15 days Fri 8/17/18 Thu 9/6/18
3.6 Internal Structure is developed 12 days Fri 9/7/18 Mon 9/24/18
3.7 Final Furnishing 10 days Tue 9/25/18 Mon 10/8/18
3.8 Emergency exits and safe environment is
developed 3 days Tue 10/9/18 Thu
10/11/18
4 Inspection and Closure 7 days Fri 10/12/18 Mon
10/22/18
4.1 Government Inspection and Approval 2 days Fri 10/12/18 Mon
10/15/18
4.2 Client Sign off 1 day Tue
10/16/18
Tue
10/16/18
4.3 Proper final report 3 days Wed
10/17/18 Fri 10/19/18
4.4 Submission of documents 1 day Mon Mon

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10/22/18 10/22/18
4.5 Project Closed 0 days Mon
10/22/18
Mon
10/22/18
Process for recording the lesson learnt
The lesson learnt can be recorded by the use of the journal and e-portfolio made for
storing the day to day activities and the related information processing. The journals are the
records that would involve the activities of the project along with the small notes for self
improvement. The records are kept for ensuring that the effective documentation would be kept
for the alignment of the future prospects. The steps required for recording the lesson learnt are,
Step 1- Collecting information of the activities executed in the project
Step 2- Sorting the new processes or techniques used in the project
Step 3- Analysis of the lesson learnt from the new processes or techniques
Step 4- Documenting the lessons learnt in a proper document
Step 5- Saving the file for future use
Part 2
Reflection of Project Management Skills
In this project of construction of world class attraction and national heritage site, I acted
as a project manager and it allowed the implication of the operations for developing the effective

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alignment of the improved functional development. The project management concepts of
planning, scheduling, and developing the effective project plan would be developed. I had been
able to understand the project management concepts for stakeholder and risk management
processes. The process of risk management comprises of the development of the effective and
smart influence of the risk factors on the project of construction of world class attraction and
national heritage site. I initiated the risk management by the process of risk identification for the
construction project. The various possible risks that can affect the project completion are listed in
this process. The risk factors would result in forming the major problems for the smooth
operation of the project activities. My analysis was done by analysing the possible impact,
probability, and the severity of the individual risk factors. The implication of the risk analysis
can be used for the formation of the major risk factors. The stakeholder management involve the
identification of the stakeholders, analysis of the stakeholders, and stakeholder communication
plan development. The identification of the stakeholders in based on the roles played by them for
the project of construction of world class attraction and national heritage site. I realized that the
stakeholders are the key personal that are directly or indirectly affected by the project activities.
The stakeholders have some influence, expectation, and power in the execution of the project
activities. The analysis is based on these criteria so that the completion of the project can assist
the development of the operations. The influence and power of the stakeholders can be divided
into categories of high, low, and medium.
Conclusion
The above assignment was based on the alignment of the operations that had help in
execution of the improved project operations. The development of the activities had been helpful
for executing the implementation construction activities. The natural heritage site had been

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constructed for the alignment of the activities supporting the implementation of the successive
construction activities. The allowance had been aligned for the significant development of the
functions had been formed for listing the utilization of the effective implication of the successful
stakeholder management, risk management, project planning, and lesson learnt from the study.
The successful reflection of the project management skills had been aligned for the complete
report.

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