Project Management: Hostel Project Plan and Risk Management Report

This report outlines a project management plan for launching a hostel for international students, aiming to provide affordable and excellent services. The project encompasses hostel construction and service promotion through various channels. The plan details a timeline of 12.35 months with a budget of $722,680. It includes a risk management plan assessing potential risks based on impact and probability, alongside mitigation strategies. A communication plan is also developed to address potential communication challenges. The report covers project scope, work breakdown structure, Gantt chart, network diagram, stakeholder analysis, and a detailed risk management assessment with allocated ratings for potential risks.

Running head: PROJECT MANAGEMENT
Project management: Launching of a hostel for international students
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Introduction to the group
Name Role Contact details
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Executive Summary
The paper focuses on the launching of the hostel for the international students. The project mainly aims to
attract the international students by providing excellent services at an affordable price. It is found that the
project launching will mainly incorporate construction of the hostel as well as promotion of the services
of the hotel with the help of advertisements as well as other medium. The paper provides the entire plan
for the project and elaborates that the entire project can get completed in 12.35 months by utilizing the
budget of around $722,680. The paper also reflects on the risk management plan in order to access the
risks in context to impact and probability with proper mitigation strategies that helps in mitigating the
project risks. Moreover, the communication plan that is developed within the project also helps in
avoiding communication related issues and challenges.

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Table of Contents
1. Description of the project scope statement..............................................................................................4
1.1 Project details....................................................................................................................................4
1.2 Background of the project..................................................................................................................4
1.3 Benefit from the project.....................................................................................................................4
1.4 Start and finish date...........................................................................................................................5
1.5 Monetary value..................................................................................................................................8
1.6 Constraints.......................................................................................................................................11
1.7 Key assumptions..............................................................................................................................12
1.8 Expected outcome............................................................................................................................13
2. Work breakdown structure....................................................................................................................13
3. Gantt chart.............................................................................................................................................14
4. Network diagram...................................................................................................................................16
5. Stakeholder analysis..............................................................................................................................16
6. Communication planning.......................................................................................................................23
7. Risk management..................................................................................................................................26
8. Allocation of ratings to each potential risks...........................................................................................33
Bibliography..............................................................................................................................................35

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1. Description of the project scope statement
1.1 Project details
The project mainly reflects on launching of hostel for international students. The main aim of the
project is to attract more number of international students by providing excellent services at a very much
cost-effective price in comparison to other organizations that exists within the market. The construction
phase of the hostel mainly includes construction of framework, entry and exit spaces, brick, concrete,
colour as well as tiles application. Moreover, cooking area, bedroom, bathroom as well as playground
area is prepared for the hostel. Furthermore, it is quite necessary to promote the hostels with the help of
either advertisement as well as banners. It is found that the launching of the hostel for internal students
will generally get completed in 12.35 months within the budget that is around $722,680.
1.2 Background of the project
It is found that earlier the international students face a lot of issues as well as challenges in
getting proper hostel that assists in providing excellent service at a very much cost effective price. This is
considered as one of the major issue for the international students. It is found that in order to resolve the
issues quite effectively, it is quite essential to launch a new hostel for the international students in Sydney
so that the students can get proper opportunity of living in a very much cost effective manner. In addition
to this, the hostel will provide excellent service including food, water supply as well as proper living
rooms and playgrounds. In addition to this, the hotel that will be constructed for the international students
would be promoted with the help of advertisements, hoardings as well as banners.
1.3 Benefit from the project
The main benefit that is mainly achieved by launching the hostel is that the international students
will get to know about the hostel that helps in providing excellent services at a very much cost effective
way. The students from different countries can be able to afford their living with less amount of money

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and can be able to continue their studies in Australia. Moreover, the entire project will be helpful in
giving competition to other organizations within the market.
1.4 Start and finish date
The table that is provided below showcases the schedule of the project for launching the hostel
for the international students. It is found that the project will be commenced on 13th May 2019 and it is
assumed that the project will get finished on 21st April 2020. The table that is given below reflects on the
beginning and accomplishment date of each of the project activity.
WBS Task Name Duration Start Finish
0
Launching hostel for international
students
12.35 mons Mon 13-05-19 Tue 21-04-20
1 Planning of the project 1 mon Mon 13-05-19 Fri 07-06-19
1.1 Analyzing requirement 0.35 mons Mon 13-05-19 Tue 21-05-19
1.1.1 Analysis of the requirements 4 days Mon 13-05-19 Thu 16-05-19
1.1.2 Analysis of the project nature 3 days Fri 17-05-19 Tue 21-05-19
1.2 Resource estimation 3 days Wed 22-05-19 Fri 24-05-19
1.3 Estimation of time schedule 3 days Mon 27-05-19 Wed 29-05-19
1.4 Budget estimation 2 days Thu 30-05-19 Fri 31-05-19
1.5 Manpower estimation 3 days Mon 03-06-19 Wed 05-06-19
1.6 Resource analysis 2 days Thu 06-06-19 Fri 07-06-19
1.7
Milestone 1: Completion of
project planning phase
0 days Fri 07-06-19 Fri 07-06-19
2 Initiation of the project 3.45 mons Mon 10-06-19 Thu 12-09-19
2.1 Land procurement 6 days Mon 10-06-19 Mon 17-06-19

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2.2 Hiring the project stakeholders 5 days Tue 18-06-19 Mon 24-06-19
2.3 Meeting arrangement 6 days Tue 25-06-19 Tue 02-07-19
2.4
Managing the budget of the
project
5 days Wed 03-07-19 Tue 09-07-19
2.5 Hiring the stakeholders 5 days Wed 10-07-19 Tue 16-07-19
2.6 Preparation of blueprint 4 days Wed 17-07-19 Mon 22-07-19
2.7 Procuring the land area 5 days Tue 23-07-19 Mon 29-07-19
2.8 Release of legal notice 5 days Tue 30-07-19 Mon 05-08-19
2.9 Budget allocation 6 days Tue 30-07-19 Tue 06-08-19
2.10 Resource procurement 5 days Wed 07-08-19 Tue 13-08-19
2.11 Dividing the time of the project 4 days Wed 14-08-19 Mon 19-08-19
2.12 Dividing the work of the project 4 days Tue 20-08-19 Fri 23-08-19
2.13 Analyzing the project risks 8 days Mon 26-08-19 Wed 04-09-19
2.14 Mitigating the risk 6 days Thu 05-09-19 Thu 12-09-19
2.15
Milestone 2: Planning phase
completion
0 days Wed 04-09-19 Wed 04-09-19
3 Execution phase of the project 6.45 mons Thu 05-09-19 Tue 03-03-20
3.1 Land preparation 11 days Thu 05-09-19 Thu 19-09-19
3.2 Assorting the project resources 12 days Fri 20-09-19 Mon 07-10-19
3.3
Making arrangement for
constructing the hostel
8 days Tue 08-10-19 Thu 17-10-19
3.4 Construction of framework 9 days Fri 18-10-19 Wed 30-10-19

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3.5 Exit and entry spaces 10 days Thu 31-10-19 Wed 13-11-19
3.6 Application of bricks 13 days Thu 14-11-19 Mon 02-12-19
3.7 Plumbing 11 days Tue 03-12-19 Tue 17-12-19
3.8 Application of electric circuit 12 days Tue 03-12-19 Wed 18-12-19
3.9 Application of concrete 14 days Thu 19-12-19 Tue 07-01-20
3.10 Application of color 10 days Wed 08-01-20 Tue 21-01-20
3.11 Application of tiles 8 days Wed 22-01-20 Fri 31-01-20
3.12 Construction of cooking area 12 days Mon 03-02-20 Tue 18-02-20
3.13 Construction of bedrooms 10 days Wed 19-02-20 Tue 03-03-20
3.14 Construction of playground 0 days Tue 03-03-20 Tue 03-03-20
3.15
Milestone 3:Execution phase of
the project completed
0 days Tue 03-03-20 Tue 03-03-20
4 Promotion phase 1.5 mons Wed 04-03-20 Tue 14-04-20
4.1
Arrangement for promoting the
hostel
9 days Wed 04-03-20 Mon 16-03-20
4.2 Advertisements 8 days Tue 17-03-20 Thu 26-03-20
4.3 Banners 7 days Fri 27-03-20 Mon 06-04-20
4.4 Project finalization 6 days Tue 07-04-20 Tue 14-04-20
4.5
Milestone 4: Promotion phase
completion
0 days Tue 14-04-20 Tue 14-04-20
5 Closure phase 0.25 mons Wed 15-04-20 Tue 21-04-20
5.1 Sign off stakeholders 3 days Wed 15-04-20 Fri 17-04-20

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PROJECT MANAGEMENT
5.2 Post project review 2 days Mon 20-04-20 Tue 21-04-20
5.3
Milestone 5:Closure phase
completion
0 days Tue 21-04-20 Tue 21-04-20
1.5 Monetary value
The table that is provided showcases that around $722,680 is required for launching the hostel for
internal students by completing the construction related work. It is found that the budget that is generally
needed for executing each of the project activities that are are generally provided in the table below:
WBS Task Name Duration Cost
0
Launching hostel for
international students
12.35 mons $722,680.00
1 Planning of the project 1 mon $9,200.00
1.1 Analyzing requirement 0.35 mons $3,240.00
1.1.1 Analysis of the requirements 4 days $1,920.00
1.1.2 Analysis of the project nature 3 days $1,320.00
1.2 Resource estimation 3 days $1,320.00
1.3 Estimation of time schedule 3 days $1,440.00
1.4 Budget estimation 2 days $880.00
1.5 Manpower estimation 3 days $1,440.00
1.6 Resource analysis 2 days $880.00
1.7
Milestone 1: Completion of
project planning phase
0 days $0.00
2 Initiation of the project 3.45 mons $132,280.00

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PROJECT MANAGEMENT
2.1 Land procurement 6 days $0.00
2.2 Hiring the project stakeholders 5 days $2,400.00
2.3 Meeting arrangement 6 days $2,880.00
2.4
Managing the budget of the
project
5 days $2,200.00
2.5 Hiring the stakeholders 5 days $2,200.00
2.6 Preparation of blueprint 4 days $2,240.00
2.7 Procuring the land area 5 days $2,800.00
2.8 Release of legal notice 5 days $2,400.00
2.9 Budget allocation 6 days $0.00
2.10 Resource procurement 5 days $4,600.00
2.11 Dividing the time of the project 4 days $1,920.00
2.12
Dividing the work of the
project
4 days $101,920.00
2.13 Analyzing the project risks 8 days $3,840.00
2.14 Mitigating the risk 6 days $2,880.00
2.15
Milestone 2: Planning phase
completion
0 days $0.00
3 Execution phase of the project 6.45 mons $456,560.00
3.1 Land preparation 11 days $311,440.00
3.2 Assorting the project resources 12 days $0.00
3.3 Making arrangement for 8 days $7,360.00

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constructing the hostel
3.4 Construction of framework 9 days $9,360.00
3.5 Exit and entry spaces 10 days $10,400.00
3.6 Application of bricks 13 days $19,760.00
3.7 Plumbing 11 days $15,840.00
3.8 Application of electric circuit 12 days $17,760.00
3.9 Application of concrete 14 days $26,320.00
3.10 Application of color 10 days $9,200.00
3.11 Application of tiles 8 days $11,840.00
3.12 Construction of cooking area 12 days $17,280.00
3.13 Construction of bedrooms 10 days $0.00
3.14 Construction of playground 0 days $0.00
3.15
Milestone 3:Execution phase of
the project completed
0 days $0.00
4 Promotion phase 1.5 mons $122,320.00
4.1
Arrangement for promoting the
hostel
9 days $7,560.00
4.2 Advertisements 8 days $106,720.00
4.3 Banners 7 days $2,520.00
4.4 Project finalization 6 days $5,520.00
4.5
Milestone 4: Promotion phase
completion
0 days $0.00

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PROJECT MANAGEMENT
5 Closure phase 0.25 mons $2,320.00
5.1 Sign off stakeholders 3 days $1,440.00
5.2 Post project review 2 days $880.00
5.3
Milestone 5:Closure phase
completion
0 days $0.00
1.6 Constraints
A project is more often is defined successful if the project objectives are properly achieved by
the deadline by staying within the budget. However, it is found that part from the time, scope as well as
cost, it is identified that there are six additional constraints which are helpful in limiting the process for
accomplishing the objectives of the project.
Quality: Quality of the project is mainly linked with the scope of the project and as the quality
mainly concentrates on the various attributes and thus it is considered to be interrelated with the
constraint of the project. It is found that if the quality of the project is compromised then it generally
constructs the project progress by reducing the chances of the project failure.
Risk: The Risk management is as the most significant tasks for the project managers. When the
probability of risk occurrence is not identified properly then it will not be possible to determine the
impact of the risks which creates construction within the project progress. Moreover, it is found that the
utilization of failure mode as well as effect analysis approach is considered to be beneficial in
determining the risks.
Resource: Resources are generally interconnected with the cost of the project. It is found that the
amount of money that is mainly available is generally helpful in properly achieving the desired outcomes
of the project that will further restrict the utilization as well as acquisition of the resources that further
helps in creating separate constraint.