Project Management Report: Solar Plant System Installation Analysis

This report provides a comprehensive analysis of a project to install a solar plant system in office premises. It begins with an introduction to project management and then delves into the specifics of the solar plant project. The report addresses stakeholder concerns, such as the project's benefits, including power generation, cost savings, and the advantages of self-produced energy. It identifies potential risks, including completion delays, technical issues, financial constraints, and market fluctuations. The report also details the project's timeline and associated costs, including labor, raw materials, and other expenses, and it examines the project's benefits, such as technology development, low maintenance costs, diverse applications, reduced electricity bills, and the use of renewable energy sources. Finally, the report concludes by highlighting challenges faced during project execution.

Project Management

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Stake holder concern....................................................................................................................3
Risk associated with the project...................................................................................................4
Time associated with the project..................................................................................................5
Cost associated with the project...................................................................................................5
Benefits realisation.......................................................................................................................5
Project execution challenges........................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management alludes to making arrangements which is required in a project. The
project management is tied in with dealing with the entire project, overseeing incorporates asset
taking care of, making exercises arrangement, taking care of the work by designating them their
jobs and duty, and the so on. Dealing with a project is a serious extreme errand. It requires
customary management and observing of work. Each organization attempts a project and
attempts to finish it at time. The entire project is partitioned into little exercises of errands which
summarize the project. For reference this report has undertaken a particular project for installing
the solar plant system into the office premises. The project requires a huge cost which it has
some budget, risks, time, scope and etc. The purpose of this project is to install the solar plant
system to offices and to promote the green production and activities. This project has a budget of
50,000 Euros and a time span of 6 months.
This report discusses about the stakeholders concerns, risks, time, cost and benefits
realization along with the challenges which is faced by the project manager.
TASK 1
Stake holder concern
Every project has some kind of motive or goal. The investors or the stakeholders also
holds some kind of expectation which they have regarding or related to the project. The reason
for building up the sun oriented plant framework is to deliver the power which can be utilized by
the workplaces themselves. The workplaces would now be able to don't need to purchase the
power from some other power board or house; presently these workplaces can have their own
power which they can utilize. The venture would have the accompanying advantages:
Creation of power: Establishing the sun powered plant in workplaces would spare the vitality
which the organization needs to purchase from the outside electric sheets. Building up the sun
powered plant would empower the workplaces to utilize the vitality which has been produce by
their sun oriented plant (Brewer and Dittman, 2018). This can spares a tremendous expense for
the administration workplaces. Utilizing your own power has its own preferred position as the
workplace would not confront any power deficiency or patterns, the expense would be get
spared, the workplaces would utilize their own delivered power.
Once speculation: Investment in setting sunlight based plant framework into the premises is a
onetime venture. The individual needs to contribute just a period and from this one time
speculation he can take advantage in since quite a while ago run. In lengthy time span he doesn't
need to buy the vitality from some other source than to utilize the vitality which has been created
by his own sun oriented plant. In spite of the fact that the organization needs to place cash in it,
as it introducing a sunlight based plant isn't modest, yet the expense of not more noteworthy than
the advantages which the individual would get from it.

Successful of plan or project: The major concern of the stake holders is that the project or the
plans which are made through the project should get executed properly by the company and it
must deliver the benefits to them as per the plans. The stake holders are more concern about the
level of benefit it would give them. They would consider that whether the cost which the
company has put upon the project is more or equivalent to the benefits it is now providing to
them.
Returns: Returns refer to the pay back from a particular investment which is being done by the
stake holders (Conforto and Amaral, 2016). Here the returns are the percentage of benefits the
project has been given to the company. If the amount of electricity which the company gets from
the project is up to the mark then it is giving the good returns to them. But if the returns which
the project is giving to the company are not enough then there would be some disappointment.
Risk associated with the project
The risks are the threats to which a particular project is prone to. Every project is prone to
some or the other kind of risks and it is the duty of project manager to detect these risks and
reduce or eliminate such so that the project can get executed very well. This particular project of
installing the solar plant system is also prone to risks. Some of these risks can be as follows:
Completion of project: The Company has a major risk that they need to complete the project
within 6 months only. And to complete this project on time they need to make things done at a
particular time scale only. They need to work according to their schedules only and has to stand
upon them very strictly (Edkins and et al., 2013). If they fails to stand upon the same then they
might have the fear to lose the project deadline which is not considered as a good thing. As this
would put a major impact upon the reputation and working of the project manager and company.
Technical risks: The technical risk is concern with the threats which are related with the
technology. There can be various kinds of technological risks which a project can be associated
with. There can be any kind of technical problem that may be able to take place during the
project. Technical issue can be due to any factor, it can due to some improper wiring, some
shorting, battery problem and the like. If any of the technical factor has not placed at the right
place and in a correct way then it might create problem into its working. Therefore this can be a
huge risk for the company.
Financial risk: It is also a kind of risk in which the budget which is associated with the risk
should not get exceed to that. Here in this project the total budget is of 50,000 Euro. The
company wants to done this whole project within that amount only. But cost can get increase due
to many factors and it is normal. The company has a risk that whether the cost associated should
not get increased to the stated budget. And to not happen that , the company is monitoring and
observing all the activities and its relative costs (Eskerod, Huemann and Savage, 2015).
Market risk: The market risk involves some of the examples like increase into the prices for raw
materials, labour costs, and decrease into the prices for electricity and so on. All these factors can

increase the cost for the company. As the cost for raw materials and labour gets increased the
cost for the project would also gets increased which would result into building up of financial
risks.
Time associated with the project
Time refers to the total time duration which this particular project would going to take for
its competition. The company or the project manager has to complete this project within the time
scope of 6 months. The company calculated this project time by calculating the activities which
are associated with the project and the time taken to perform those activities. For proper
calculations the company has to perform the work break down structure in which the activities
are break down or the whole project is break down into small activities. This break down also
adds up the time which has been taken by the activity for its completion (Floricel and et al.,
2014). And combining all the time taken in performing those activities gives the total time taken
to complete the project. The time for completing the project can get reduced when the labour put
into the same get increase. When the man work into a project gets increased then the work done
also gets increased and the time taken by the project to get completed would get reduced.
Cost associated with the project
The cost is the total expenses which the project will going to take for its competition. The
cost for this particular project which is being decided by the company is 50,000 Euros. The
company has to perform or completes its project and project related activities within this cost
only. The cost has been divided after evaluation of many factors such as cost for raw materials,
cost for labour, cost for installing the plant, fees charged by the company and so on, By
analysing all these costs the company has come up with a total cost for this project and that is
50,000 Euro. The division for the cost of the project has being presented below:
factors Cost in Euro
Labour cost 15,000
Raw materials costs 25,000
Other fees expenses like company fees
costs
5,000
Total cost 50,000 Euros
The above distribution of the costs has been presented by the company and accordingly they
have come up with this particular cost. If everything goes as planned and at schedule, the project
can get completed with this cost (Greiman, 2013). But any change which could be internal or
external can bring fluctuations into the costs.
Benefits realisation
The project has the following benefit realisations:

Technology development: development into technology is a continuous process. In this solar
installing system is something which is getting developed by very fast. The benefits which the
offices will get from this technology would be very good as they would get the easy supply for
electricity which they have produce by their own electricity. When the offices would produce
their own electricity the cost for purchasing the same would get reduced or get eliminated. This
will result in saving the huge cost for the company (Kerzner, 2015). The development of
technology has provided the easy and efficient life to the people, with any advancement it has
ease the working of humans by reducing its cost for them.
Low maintenance cost: The cost for maintaining a solar plant system is very less. The cost just
only incurred at the time of their installation. But after its installation they can get ready for its
use and there is much less amount of maintenance they required. The low maintenance is
required by the company to have. Installing a solar plant system is kind of one time investment
for the companies as they just need to put their money once and the benefits they would get will
be of long term. In between the offices also does not need to spend much more money on their
maintenance.
Diverse Applications: The solar plant system has many purposes. Like it helps in generate the
electricity or heat. The electricity can be produce without application of energy grid; it used
distilled water to get in process or start. It is also useful in integrating the raw materials which is
used in buildings (Kostalova, Tetrevova and Svedik, 2015). Therefore the installation of solar
plant system does not provide a single usage but many other usages to the people which have
been stated above.
Reduces the bills for electricity: The solar plant system helps the people in saving the cost
which they used to spend earlier in paying for the electricity bills. As installing a solar plant
system is a onetime investment, and it would give benefit to the party at a long term. This saves
the cost for the people at a long term. The electricity which the people are using is not the one
which they used to purchase but the one which they are producing by their own now. Self
producing energy creates no bills or expenditure for the people.
Renewable energy source: The production of energy through solar plant system is very an eco
friendly process. In this the energy which is produced by the people is a source of renewable
energy. The solar energy can be produce anywhere the sun lights gets harnessed. This is a type of
energy which would never come to an extinct unless the sun is present. It is the easiest way to get
the energy. The major benefit for this project is that it provided the electricity to the people and
that electricity is present from the sun. The energy gets converted into electricity through sun.
The sun rays get the panel hot and then they produce the electricity (Niazi and et al., 2016). That
electricity can be used by offices or homes for lighting up their bulbs or other electric material.

Project execution challenges
Every project goes through some challenges which it believes to get surmounted. This
project also has some challenges which are as follows:
Time: The time taken by the project to get complete should be within the given time period. The
challenge to get the task completed within 6 months. Time bound is a challenge for every project
(Tenera and Pinto, 2014). Any misunderstanding or confusion into the work or any kind of delay
into the work may result into delay in completion of work.
Poor define goals and objectives: The objectives and the goals for the project if not are clearly
defined then it might be able to create some kind of hurdles for the project manager. Vague goals
and objectives create confusion and conflict among the people which might result into failure in
achieving the goals (Pritchard, 2013).
Insufficient team skills: When the skills which are possessed by the workers are inefficient, it
causes the damages into the project. The work performed by a skilled worker and an unskilled
worker has a difference. Skilled worker would perform the work of best quality into the project
and where the quality of work performed by unskilled worker is not up to the mark.
Risk management: There are various risks which are associated with the project. Risk can be
management risk, resource risk, labour risks, scheduling risk and much more. These risks are
evaluated by the project manager and a proper risk register is made up which comprise the
actions which can be taken by the company to reduce or eliminate the risks (Sheffield, Sankaran
and Haslett, 2012). Risk can be both certain and uncertain. In certain risks the percentage along
with the kind and effect gets already calculated by the company. But in uncertain risk the risk
which is faced by the company is uncertain as they have not thought of that yet.
CONCLUSION
From the report discusses above, a project is undertaken by the company for installing a
solar plant system has been mentioned. In a project there are various shareholder concerns which
are returns, one speculation, creation of power and etc has mentioned. There are many risk
through which a project goes through some of these risks includes scheduling risks, labour risks,
time risks, resources risk and the so on. Apart from this the report also includes the concept for
time, costs, various challenges through which the project gone through.

REFERENCES
Books and Journals
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present. Project Management Journal. 46(6). pp.6-14.
Floricel, S., and et al., 2014. Extending project management research: Insights from social
theories. International Journal of Project Management. 32(7). pp.1091-1107.
Greiman, V. A., 2013. Megaproject management: Lessons on risk and project management from
the Big Dig. John Wiley & Sons.
Kerzner, H., 2015. Project management 2.0: leveraging tools, distributed collaboration, and
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Tenera, A. and Pinto, L. C., 2014. A Lean Six Sigma (LSS) project management improvement
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