Project Management Report: Project Initiation and Risk Management

This report provides a comprehensive overview of project management principles, using Balfour Beatty's Open University expansion project as a case study. It delves into the importance of project initiation documents, outlining budgetary information, timelines, and objectives. The report explores the core elements of Gantt charts, work breakdown structures, and risk registers, emphasizing their roles in organizing and controlling project activities. It also discusses stakeholder analysis, the PRINCE2 methodology, and the significance of quality risk management. The report covers various aspects of project management, including project goals, objectives, and the importance of effective communication with stakeholders. The report highlights the importance of risk management in project management, which includes identifying, assessing, and mitigating potential risks to ensure project success. The report also includes a discussion on the items of risk register and the importance of reporting to the project sponsor and the director of operations. The report concludes by summarizing the key findings and recommendations for effective project management.

Project Management

Table of Contents
INTRODUCTION......................................................................................................................3
EXECUTIVE SUMMARY........................................................................................................3
TASK 1......................................................................................................................................3
1 .Sample project initiation documents of project .................................................................3
TASK 2......................................................................................................................................5
2 . Gantt chart and work breakdown structure.......................................................................5
TASK 3......................................................................................................................................8
3. Items of risk register...........................................................................................................8
TASK 4 ....................................................................................................................................9
4. Short report to the project sponsor and the director of operations.....................................9
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................13

EXECUTIVE SUMMARY
This report is summarise as the effectiveness of project management and how Balfour
Beatty company can effectively manage it. This report discusses about project management
and its various initiation documents, necessary core elements of Gantt chart, importance of
risk register. It also talks about to present a report to project sponsor and director of
operations.

INTRODUCTION
Project management provides help to an organisation to manage its project and within
stipulated time period it is necessary to be completed. In this report chosen company is
Balfour Beatty which deals in constriction of project and it makes expansion project for
university. The aim of this organisation is to make effective and well planned project. This
report covers the following topics such as project initiation document which includes
budgetary information, timescale, and objectives, Gantt chart and risk register. Apart from
this it also discusses about importance of quality risk management and prince2 methodology.
TASK 1
1. Sample project initiation documents of project
Project management is a process of organising and control all activities which are
related to the project and its elements. There is a specific reason and objective of make it.
Balfour Beatty wants to make an expansion project for Open University so that it can
establish its branch another branch at Landon. Project initiation document has contained all
information about the project and it is transferred to the stakeholders which includes business
sponsors. This document presents a detailed version of a start-up document which is also
known as project brief. It is mainly used for two purposes such as:
Based on the PID information, project management gives its commitment. When project
sponsor gives the green light that means project initiation document appropriately describes
which resources, people and budget are necessary for the project (Kerzner and Kerzner,
2017).
On the basis of information in PID, project manager can monitor and control the progress of
project. Project initiation document is consisting of various things such as:
 Objective of the project.
 Size of the project and how many persons are involved in it.
 Organising project: How many persons are involved in the project and what are their
tasks and responsibility.
 Risks and Limits related to it.

 Stakeholders: The persons who can be influenced from the success or failure of the it.
It starts form the first week of October 2018 and can be end in the month of May 2019.
Budget can be around 100000 GBP to make the project successful. It is necessary for an
organisation to forecaster the budget so that unnecessary expenses can be controlled.
Total forecasted budget
Particular 2017-18 (GBP)
Implementing technology cost and raw
material
40000
Promotional expense 7000
Advertisement expense 13000
Catalogues 2000
Training charges and labour 38000
Total cost 100000
Project manager is responsible to plan, organise and control the whole activities of the
project. The organisation wants to make project realistic and measurable so that it can be
successful and it the responsibility of project manager (Rose, 2013).
Project goal: The goal of project is twofold because it will help to management of college to
get the earning opportunity and for students it will be helpful because it provides the
opportunity to the students so that they can pursue research course in the university at
London.
Project objective: It is necessary to make an objective so that company can know that what
they have to be achieve from the project. There are following objectives of it which are as
follows:
 To develop the infrastructure of college.

 To complete the entire structure within stipulated time period that is from 1st October
to 30th May.
 To provide the opportunity to the students so that they can pursue research course in
university. These all objectives are the essential elements of project and it can make it
successful. It is beneficial for the students because they get opportunity to gain more
knowledge (Morris, 2013).
Project objectives can be achieving by the following things which are as:
Integration management which involves mainly six areas such as: to develop project
management plan, direct and managing project execution, development of project charter,
evaluation and control, performing integrated change control and closing the project.
Work breakdown structure can help to divide the project in small tasks so that it can be
accomplish in effective manner.
With the help of time management project can be done in stipulated time period.
Cost management can help to control the unnecessary cost in project.
The major risk is cost risk which can be highlight to the sponsor at the beginning of
the project. It is necessary to be analyse so that excess cost can be cut. PRINCE2 approach
should be used for the effective project management. This approach is focuses in the
following things such as: there must be business justification of project, learning stage for the
team, responsibility and roles properly defined and focuses on the better quality. This
approach provide helps to achieve the objectives of project (Kaiser and Ahlemann, 2015).
Stakeholders analyse: These are the persons who have interest or influence over the
PMO so it is essential to understand who is in favour and who is in against. There are various
stakeholders who are related to the project and these are as follows:
Advocate: It support the project by providing valuable suggestions and instructions
and guide the project manager to follow the rules which are needed to be accomplish. To
undertake effective advocacy, it is important to analyse those who most likely to be allies,
which involves who can be persuaded to become allies.
Blockers : These are the persons who create the hurdles in the success of projects and
they are consider as not supportive in concert to the project. If the workers goes on strike and

does not want to work as a result performance of project can be influence and it affect the
quality of project also. Blockers are not good for an organisation because it restricts the
growth and success of company.
Consumers: These are direct users of the project such as students and these are
supporters.
Manager of project: Its means the leader of project and it is supporter of the project.
Team members of project: The persons who help to accomplish the project under
the supervision of project manager.
Project Sponsor: The person who finance the project.
TASK 2.
2 . Gantt chart and work breakdown structure

Gantt Chart is a chart which describe the actual work done in a project by showing the
horizontal line and also shows he project completed in certain period as compared to the
given time period. Gantt Chart include some necessary core elements which are as under:
 Tasks: In any project there are many are many tasks structured. So Gantt Chart
always help to continue keep rack on all the sub tasks, so that nothing can be forgot
by the project manager.
 Dependencies: In any Gant Chart, some of the small arrows in between the taskbars
allude the dependencies because some tasks finished and some task can be finished
before or after the starting or finishing of their sub-tasks.
 Milestones: In the shape of diamonds, milestones have to be presented on the Gantt
Chart which clearly indicate the completion of the project.
 Summary Tasks: In the Gantt chart, many tasks we have complete in the specified
time. So convert these tasks into subtasks. And these subtasks are the summary tasks
which have the amalgamations of different types of information.
 Resources: In Gantt Chart, make a list of all tasks which had done in the project and
mention in that chart along with the name of all those persons who help to achieve
those task in the given time period.
 Vertical Line: Vertical Line shows the current Date in the Gantt Chart which helps us
to manage the time effectively.
 Progress: Progress represents by shading in the Gantt chart on the Task Bars to see
the glimpse of the project process that how it is coming along.
 Task ID: Task ID identifies all those tasks which have performed during the tenure of
the project soon.
 Bars: All those bars which is shown in the Gantt chart displays that all he tasks has
completed in scheduled time and by this, there is successful completion of the project.
 Dates: On the top of the Gantt Chart, Dates have mentioned and these dates shows
not only the commencement and ending of any task but also shows the average time
taken in every tasks.

WBS: Work Breakdown Structure is that structure in which we divide the project into
miniatures by decentralized the authority of every section of the project for successful
completion. Items which can be involve in the work Breakdown Structure:
 Quality measurement and management of them.
 To gain he targeted resulted, there is need of some resources and technical information.
 Achieve milestones, there is requirement of all the details which is related to the contract.
 Decentralize the work to each individual who is responsible for their work.
 Organizational assets identification.
 Resources required for the completion of the project.
 Measure all the environmental factors of the project.
 For completion of work in every section, there must be giving some help to the workers.
 There must be some of the protocols and set standards to manage the quality of work.
 For timely completion of every task in the project, some schedule has to be made.
 Before commencement of any project, make an estimate budget of the project.
 Determine the starting date and ending date of the project.
 Must follow all the rules (Voss, 2012).
 Thing which I deliver in the project focus on that only.
 Do not overlap the things; it may be double he efforts of the team.
 Always give a clear look on the details of the project that at which level it serves.
 Make sure of all the project tasks which should not be in the sequential manner.
 As per the protocols, every task should be completed.
 According to the skills and ability of the team members, assign the work.

 Whatever the work which is done, do that work by focusing on the end result.
TASK 3
3. Items of risk register
Risk Analysis and Management plays a very vital role in any Project Management.
While analysing risk, it ensures very minimal surprises during the execution of any project
for any key project management, while it is in the process. As future cannot be predicted, so
to reduce that uncertain risk, then use some of the simple and symmetric risk management
process to minimize the upcoming uncertainties in the project or effect of these uncertainties.
This increases the likelihood and give assurance of the successful completion of the project.
In risk register, there are various types of risk which are described as below:
Risk register
Risks Description Scoring the risk
Owner sickness: If the owner of the project will
fall sick due to any of the reasons
like occurrence of accident or any
viral sickness, then it may impact
on the execution of the project
and increases the risk of the
project.
2
Mitigation Action: This is an action in which the
executor and manager of the
project take some of distinct
action, activity or some procedure
taken to alleviate or repel long
term risk to the property and
people from danger and their
effects (Teller and Kock, 2013).
5
Contingency Action This action is taken to reduce the 7

exceptional risk like workers
suddenly go on strike, and then it
will hamper the productivity of
the work process of project.
Pre and post Action There are some of the predictable
risks for which some of the pre
and post action will be taken like
availability of resources and
transportation.
5
Technical Risks These are the risk which will
basically happen when there are
some modification in the project
like changes in design of the
structure, so according to this
some additional material and
resources will be required.
7
Logistical Risks: Without giving lightning to
logistical issues, then there will
be huge project delays and losses
due to the unavailability of
transportation facility,
equipment’s and spare parts.
5
Financial Risks: If the inflation occurs or changes
in government policies or tax rate
changes, fluctuations in the
currency of foreign exchange. For
all that, pre prepare for them.
10
Environmental
Risks
There is sudden change in the
weather or some seasonal
implication happen, may be some