Project Management Report: Methodologies, Risk & Stakeholder Analysis

This report provides an overview of project management principles, focusing on Transport for London's project to develop 800 houses. It discusses various project management methodologies such as Waterfall and Agile, highlighting their applications and benefits. The report includes a network diagram for project scheduling and critical path analysis, followed by a stakeholder analysis using a grading matrix to identify and categorize stakeholders based on their power and interest levels. Furthermore, it presents a work breakdown structure to divide the project into manageable tasks and a risk analysis to identify potential challenges and mitigation strategies. Quality factors and acceptance criteria are also outlined to ensure project success. Desklib offers this solved assignment and many other resources for students.

Project Management

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
Project Management Methodologies......................................................................................1
Task 2...............................................................................................................................................2
Network Diagram...................................................................................................................2
Task 3...............................................................................................................................................5
Stakeholder Analysis..............................................................................................................5
Task 4...............................................................................................................................................7
Work Break down structure....................................................................................................7
Task 5...............................................................................................................................................7
Risk Analysis..........................................................................................................................7
Task 6...............................................................................................................................................8
Quality factors........................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Project management depict the concept of using particular knowledge, techniques, skills and
tools in regard of delivering the value of individuals. It depicts the process where the team lead
to needed during the work process in terms of achieving the objectives of project in given period
of time (Demirkesen and Ozorhon, 2017). Every project is unique from the day to day in regard
of operating the activities of company. When the goal of project is achieved then the project
reaches towards the conclusion. The report leads to put emphasis on the project management of
Transport for London as it leads to comprise the operational working that has been considered to
develop 800 houses in action.
Task 1
Project Management Methodologies
There are several project management approaches that can be employed by an
organisation to achieve project goals. TFL use a number of different approaches in order to
complete its projects. The following are the project management methodologies:
Waterfall technique: The waterfall approach is a traditional project management
methodology. The phases and tasks in the waterfall technique are done in a sequential or linear
order. It is critical that each stage's project be completed before the following stage's project
begins (Silvius, 2017). Requirement’s analysis, design, building, testing, deployment, and
maintenance are some of the phases taken by Transport for London plc when using the waterfall
technique. The project follows a single path, much like a real waterfall. Because everything is
plotted out from the start, there is a chance that mistakes will arise.
Agile technique: The agile technique is another project management strategy that Transport
for London plc utilised to complete its projects. Because of the dissatisfaction with traditional
project management approaches, the agile project management technique was developed. Using
agile technology, the organisation was able to change the project as needed during the process of
achieving the project goals, rather than waiting until the end to review and amend the process
(Picciotto, 2020). Agile methodology is more collaborative, rapid, and adaptable to data-driven
adjustments. Smaller phases are used in the project management technique, which allows for
more regular testing and evaluation.
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Task 2
Network Diagram
A network diagram is a graphical representation of a project that consists of cities that are
connected with arrows and boxes to show the relationship between the numerous activities that
have been involved in the project. In a network diagram, the boxes or nodes reflect the
descriptions of various tasks, and the arrows show the relationships between the project's
activities (Puška and et. al., 2020). A network diagram is a visual representation of the network's
structure using symbols and lines, and it's a good approach to share the network's layout. Users
can easily comprehend the links because to the graphic representation.
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The diagram represented above has been prepared through the data provided underneath.
Early
Start
Activity Number Early finish
Slack time ACTIVITY NAME
Late Start Duration Late Finish
It can be seen from the network diagram above that the optimum path for completing the
project tends to achieve the project's goals and objectives. The network diagram will assist
Transport for London plc management in completing projects while critically establishing paths
in order to properly utilise project resources before beginning the activity. The presentation of a
network diagram indicates that the project managers have a clear vision of how to achieve the
project's goals. The project can be completed in as few as 1, 2, 4, 5, 9, 10, 21, and 22 days. The
shortest time to complete the assignment is projected to be 116 days.
Gantt chart:
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Task 3
Stakeholder Analysis
Stakeholder analysis refers to the process of evaluating a system and proposed adjustments
based on the relationship between the relevant and interested counterparts. The information is
useful in determining how interested parties and stakeholders should be addressed in an
organization's project strategy (Chen and et. al., 2019). Stakeholder analysis is a procedure that
involves the systematic collection of qualitative data in order to analyse and identify the people
who have an interest in the organisation and who should be considered during the creation of
policies and the implementation of programmes in the organisation. The stakeholder study of
Transport for London plc was conducted using a stakeholder analysis grading matrix, and the
following components are discussed:
INTEREST LEVEL
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POWER LEVEL
LOW HIGH
HIGH Town Hall Committee Investors
LOW Audience Organisers and
participants
 High power low interest: Individuals with a low interest in the operational work of the
business but enough power to control the organization's operational process are included
in the stakeholder analysis of Transport for London plc's component of the high-power
low interest quadrant (Sanchez and Terlizzi, 2017). The project's managers and
committee members could be stakeholders with a lot of power but little interest in
Transport for London plc.
 High power high interest: Individuals that possess high power and have a keen interest
in the operational process of the organisation likely to be a part of the high-power high
interest quadrant of stakeholder analysis for Transport for London plc. The investors who
put money and cash into the organization's projects and so have an influence on decision-
making in the project can be referred to as the stakeholders of Transport for London plc
who have high power enough to manipulate the operational process.
 Low power high interest: Stakeholders with limited power but a high or keen interest in
the organization's operational process make up the third quadrant of the stakeholder
analysis (Ma and et. al., 2018). To manipulate decision-making, these people have a
modest level of power. The organisers of the organisation are the stakeholders in the low
power high interest quadrant.
 Low power low interest: Stakeholders with minimal power and interest in the
organization's operational process make up the fourth quadrant of the stakeholder
analysis, which can be used to control corporate operations. People that are regarded
stakeholder in this quadrant for Transport for London plc are primarily the organization's
audience or potential consumers or customers.
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Task 4
Work Break down structure
The work breakdown structure, also known as a deliverable oriented breakdown structure, is
a project management concept that divides a project's workload into smaller chunks. The work
breakdown structure is an important project deliverable that tends to organise the team's work
into manageable pieces (Bjorvatn and Wald, 2018). The following is a breakdown of the work
breakdown structure of Transport for London plc:
Task 5
Risk Analysis
This is a notion in which numerous possible difficulties are recognised and analysed in
terms of their negative influence on critical company activities and project objectives. It assists in
preventing and managing the risks that a company may face. The following is a risk analysis of
Transport for London plc:
No. Risk Effect Possibility Mitigation
1 Failure of power Low High Using high-quality machines and
equipment in a controlled environment.
2 Changes in weather High Moderate Using good planning approaches and
estimating the possibilities.
3 Safety and security Low Moderate A vision of a safe working environment
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Main
Activities
Budget
Approval Music Advertising
Cast for
Train
Production
Advertiseme
nt Plan Performance
Director
Approval
Department
Approval
Hire
Band/Orchest
ra
Hire Publicity
Director
Marketing
Tools
Hire set
designer
Set Design
Cast
Rehearsal
Advertisement
Media
Marketing
Consultant
Performance
Management
Training and
Development

4 Low human resource High High HR management that works
5 Technological updates Low Moderate Research into the market
6 Bad catering on site High Low Using high-quality caterers
7 Lack of coordination High Low Techniques of coordination
8 Lack of space Low High Appropriate allocation of resources
9 Issues relation to
society
High Low Achieving social aims
10 Self-esteem High Low In the operating firm, providing a fair
working environment
11 Lack of parking space Low Low Creating adequate parking facilities
12 Loss of finance Low Low Management of financial resources
13 Project conflicts High Low Supervision that works
14 Low moral Modera
te
Low Using motivational tactics, making the
organisation a good place to work
15 Government influence Low Low Research into the market
16 Shortage of resources High Moderate Allocation and consumption strategies
that work
17 Employee safety High Low A catastrophe management training
course in action
18 Act of God Low High -
19 Ineffective time
management
Low High Techniques for time management
20 Market uncertainties High Low Market research and operational
flexibility
Task 6
Quality factors
Particulars Expectati
ons in
terms of
Criteria for Acceptance Quality
specification
Controlling
techniques
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quality
Advertising High Sales enhanced by 10% Technology use Training and
developing
Methodology High Enhancement in
productivity by 6%.
Agile and Waterfall Following principles
of practice
Risk assessment High Increment in
productivity by 3%.
Risk Analysis Effective risk
management
techniques
Performance High Increase in turnover by
5%.
WBS and Gantt
chart
Supervision
techniques
CONCLUSION
From the above discussion, it has been analysed that the project management plays an
important role in terms of achievement of project goals of company. The report leads to discuss
the several project management techniques like agile and waterfall in terms of attaining the
goals. The stakeholder’s analysis is also discussed with work break down structure and risk
register which is basic for the company.
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REFERENCES
Books and Journals
Bjorvatn, T. and Wald, A., 2018. Project complexity and team-level absorptive capacity as
drivers of project management performance. International Journal of Project
Management, 36(6), pp.876-888.
Chen, T and et. al., 2019. How do project management competencies change within the project
management career model in large Chinese construction companies?. International
Journal of Project Management, 37(3), pp.485-500.
Demirkesen, S. and Ozorhon, B., 2017. Impact of integration management on construction
project management performance. International Journal of Project Management, 35(8),
pp.1639-1654.
Ma, X and et. al., 2018. Conceptual framework and roadmap approach for integrating BIM into
lifecycle project management. Journal of Management in Engineering, 34(6),
p.05018011.
Picciotto, R., 2020. Towards a ‘New Project Management’movement? An international
development perspective. International Journal of Project Management, 38(8), pp.474-
485.
Puška, A and et. al., 2020. Evaluation software of project management used measurement of
alternatives and ranking according to compromise solution (MARCOS)
method. Operational Research in Engineering Sciences: Theory and Applications, 3(1),
pp.89-102.
Sanchez, O.P. and Terlizzi, M.A., 2017. Cost and time project management success factors for
information systems development projects. International Journal of Project
Management, 35(8), pp.1608-1626.
Silvius, G., 2017. Sustainability as a new school of thought in project management. Journal of
cleaner production, 166, pp.1479-1493.
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