Stakeholders and Project Management - Review, Scenario, Project Details, and Risk Management Plan

Running head: STAKEHOLDERS AND PROJECT MANAGEMENT
Stakeholders and Project Management
Name of the Student:
Name of the University:
Author Note:

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STAKEHOLDERS AND PROJECT MANAGEMENT
Assessment 1:
1. Review of business documentation:
Max Lionel Realty, the simulated business maintains the documents which
incorporate policies and procedures. The firm abides by the laws which are in force in
Australia and the state of Victoria like work, health and safety laws (WHS laws) and the
codes of conduct prescribed by Real Estate Institute of Australia (safeworkaustralia.gov.au
2018). These procedures are more evident from the strong communication the company has
with its stakeholders like clients and tenants (reia.asn.au 2018).
2. Review of the scenario:
The scenario mentioned in the case study shows that Max Lionel Realty aims to
maintain a strong communication with the clients and educate them on the legal and ethical
aspects of the real estate business. The company also aims to promote superior standards of
professionalism to benefit the clients, agents (brokers) and tenants. However, in reality the
brokers, clients and tenants lack knowledge about the legal aspects. The brokers and
customers (investors) have very poor knowledge of time management which often result in
loss of profitable market opportunities (McNeil, Frey and Embrechts 2015). These lacks of
training and knowledge are issues which the company requires to address through training
and educating them.
3. Project details from the operations manager:
The project team would consist of six to eight members under the operations general
manager. The possible roles would include project sponsor, technical experts, quality
assurance and project managers. These experts mentioned would be responsible for providing

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training to the agents, clients and tenants. An amount of $ 15000 should be allocated towards
the training of clients, brokers and tenants. The timeframe for the project would be a period
of 2 years where investors would be trained half yearly, the brokers would be trained
quarterly and tenants half yearly. The project reports regarding training of these three
stakeholders would be presented to the apex management once in three months (25 percent),
half yearly (50 percent) and once in nine months (75 percent) (asx.com.au 2018).
4. Project scope:
The scope of the project would encompass building of market goodwill and satisfy
legal obligations by educating clients, tenants and brokers. The documents regarding the
project should maintain records of project initiation and scopes achieved under the leadership
of the operations general manager (Bromiley et al. 2015).
5. Additional documentation:
The additional documents would include budget and codes of conduct which the
investors, agents and tenants would have to follow to operate with the company.
6. Project stakeholders:
Name Work area
(Engagemen
t)
Stakeholder
management
Stakeholde
r type
(client,
end-user)
Impact
on/by
project,
requirement
s, success
criteria
Apex management Makes Giving them Internal Makes

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STAKEHOLDERS AND PROJECT MANAGEMENT
decisions high returns decisions and
decides
market
operations of
the company
Employees (including project
managers and operations
managers)
Execute
decisions
Appropriate
compensation
and
professional
growth
Internal Operations of
the company
Customers/investors/clients/
project owners/principles
Buy
properties
and generate
revenue, give
references
High quality
properties,
superior
position at
affordable
prices
External Revenue
generation
and market
goodwill
Brokers/agents Acquires
clients for the
company
High
brokerage and
incentives per
client
External Can increase
or decrease
the client
base of the
company
Tenants Gives rent
and hence
generates
Superior
accommodatio
External Generates
revenue and
acquiring

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revenue n facilities more tenants,
thus ensures
repeat
revenue for
the company.
Government Makes laws,
policies
Taxes External High taxes
and abiding
laws
Suppliers Supplies the
firm with raw
materials,
thus impact
productivity
High prices
for their
supplies
External High returns
and repeat
orders for
materials
Project Title: Project
Client:
Project Sponsor: Project
Manager:
Pag
e x
of y

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STAKEHOLDERS AND PROJECT MANAGEMENT
7. Identification of personal responsibilities and reporting requirements:
Role Name/s Responsibilities Signature/s
(if required)
Project client/owner
The person who requires the
project to be undertaken.
To be
provided by
the project
manager(s)
Providing the
project management
company with
accurate details and
requirements of the
projects, providing
timely payments as
per project contracts
Project sponsor/project
director/project board
Senior management of the
project. Accountable for the
success of the project. Has the
authority to commit resources.
To be
provided by
the project
manager(s)
Direct the project
team as per the
directions and
requirements of the
client
Project manager
Person responsible for running
the project on a day-to-day basis
within defined authorities for
cost and schedule as agreed with
the project sponsor/board.
To be
provided by
the project
manager(s)
Manages the project
as per the guidance
of the project
sponsor(s)
Manager of the project
manager
The operational/line manager
To be
provided by
the project
Manages the project
as per the guidance
of the project

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STAKEHOLDERS AND PROJECT MANAGEMENT
who the project manager reports
to on a day-to-day basis.
manager(s) manager(s)
Project team members
Staff who will be working on the
project.
To be
provided by
the project
manager(s)
Follow the
instructions of the
line managers and
project managers
Steering committee/
working party
To provide advice and
recommendations.
To be
provided by
the project
manager(s)
Recommend the
apex management
on new ways of
project execution
Project Title: Project Client: Date:
Version:
Project Sponsor: Project Manager: File Name: Page x of y
8. Relationship of projects to other projects, systems and business operations:
The project mentioned in the case study should be executed in coordination with other
projects, especially the ongoing projects and business operations. The project under question
must be aligned to the strategic aims of the organisations which are to enhance of its market
goodwill and stricter law enforcements. The project as pointed out in the case study, should
abide by the external legislative requirements like WHS laws (Badri 2015).
9. Resources and access to resources:
The resources avialable for the training and educating the brokers, customers and
tenants would require are training room, laptops(computers), software and templates. The

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STAKEHOLDERS AND PROJECT MANAGEMENT
financial resources for the project would be $15000 which would require approval of the
finance department (Albrecht et al. 2015).
10. Determination of project management tools:
The main project management tool to be employed in the project would be Microsoft
Project or MS project.
11. Development of project plan using MS Project:
a. Work Breakdown structure:
Level 1 Level 2 Level 3
Task 1: Client training
Sub-task 1.1. Developing
of training programmes
for clients
Work item 1.1.1
Sub-task 1.2.
Implementation of
training for clients
Work item 1.1.2
Sub-task 1.3. Evaluation
of training outcomes
Work item 1.1.3
Task 2. Agent training
Sub-task 2.1. Developing
of training programmes
Work item 1.2.1