Project Management Essentials: Smart City OS Project Analysis
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This report delves into the essential aspects of project management within the context of the Smart City OS project, aimed at transforming Hull into the UK's first smart city. It examines the critical skills a project manager needs, including research, communication, and risk management, and outlines necessary actions for effective project execution. The report identifies key stakeholders and maps their influence, emphasizing the importance of stakeholder engagement through communication and focused groups. It further discusses the project triangle parameters (scope, time, and budget) and their management, alongside a detailed risk analysis with a risk register identifying ten potential risks. Conflict resolution strategies and teamwork development are also explored, highlighting the project manager's role in fostering a successful team. The report concludes by emphasizing the need for continuous self-evaluation to ensure project success.

Project Management
Essentials
Essentials
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Task 1 – The Project Manager.........................................................................................................3
Critically discuss what skills the project manager of the Smart City OS project needs to
develop to be effective ...............................................................................................................3
Actions that are taken by project manager .................................................................................4
Task 2 Decision making and problem-solving................................................................................5
Identify relevant stakeholders and create a stakeholder influence map for the Smart City OS
project..........................................................................................................................................5
Task 3: Project triangle ...................................................................................................................7
Critically discuss the importance of the various project triangle parameters that will need to be
managed by the Smart City OS project manager .......................................................................7
Task 4 Managing finance.................................................................................................................9
The project manager on what resources may be required for this project and what could be an
effective cost estimation technique for the Smart City OS project.............................................9
Task 5 Risk management within the project .................................................................................11
Develop a risk analysis by constructing a risk register for the Smart City OS project. You
should identify at least ten risks that the Smart City OS project should be aware of by using
the appropriate categories.........................................................................................................11
Task 6 Conflict and Negotiation ...................................................................................................13
Identify at least six conflicts that may arise when running the Smart City OS project ...........13
Actions are taken by the project manager.................................................................................13
Task 7 Teamwork .........................................................................................................................14
Critically discuss what the project manager can do to build a highly successful team for the
Smart City OS project...............................................................................................................14
CONCLUSION..............................................................................................................................16
REFERENCES:.............................................................................................................................17
Books and Journals...................................................................................................................17
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Task 1 – The Project Manager.........................................................................................................3
Critically discuss what skills the project manager of the Smart City OS project needs to
develop to be effective ...............................................................................................................3
Actions that are taken by project manager .................................................................................4
Task 2 Decision making and problem-solving................................................................................5
Identify relevant stakeholders and create a stakeholder influence map for the Smart City OS
project..........................................................................................................................................5
Task 3: Project triangle ...................................................................................................................7
Critically discuss the importance of the various project triangle parameters that will need to be
managed by the Smart City OS project manager .......................................................................7
Task 4 Managing finance.................................................................................................................9
The project manager on what resources may be required for this project and what could be an
effective cost estimation technique for the Smart City OS project.............................................9
Task 5 Risk management within the project .................................................................................11
Develop a risk analysis by constructing a risk register for the Smart City OS project. You
should identify at least ten risks that the Smart City OS project should be aware of by using
the appropriate categories.........................................................................................................11
Task 6 Conflict and Negotiation ...................................................................................................13
Identify at least six conflicts that may arise when running the Smart City OS project ...........13
Actions are taken by the project manager.................................................................................13
Task 7 Teamwork .........................................................................................................................14
Critically discuss what the project manager can do to build a highly successful team for the
Smart City OS project...............................................................................................................14
CONCLUSION..............................................................................................................................16
REFERENCES:.............................................................................................................................17
Books and Journals...................................................................................................................17

INTRODUCTION
Project management can be defined as the process of leading the work of the team that
helps to achieve goals and objectives. The information is captured in project documentation that
is formulated in starting of the project. It is necessary to take care of the scope, time, and budget
so that the project is completed on time (Petrocelly, 2018). This report is based on “The smart
city.” The aim is the overall development the Hull city so that it can become the first smart city
in the UK. In this report, there is a discussion related to the skills that are required by a project
manager to develop the Smart City OS project. All the actions that must be taken by the project
manager are being examined in the report. The stakeholders are being identified so that a proper
stakeholder map is formulated. The engagement of the stakeholders is important to achieve the
success of this project. The importance of project triangle parameters is mentioned and
interrelationship among them is also identified. The possible changes that can be made within
this project are also mentioned in the report so that the city can achieve its aim. The risk that may
arise at the time of the project is being analyzed so that actions can be taken. Different conflicts
may arise at the time of undertaking the project, so they are also examined in this report. There is
the key role of teamwork to achieve the task properly and achieve success, so the role of the
project manager to manage teamwork is also discussed. At the end of this report, there is a self-
evaluation done to know about the progress made in the project.
MAIN BODY
Task 1 – The Project Manager
Critically discuss what skills the project manager of the Smart City OS project needs to develop
to be effective
The project manager plays a key role in the success of a project. It is seen that to make a
city smart numerous changes must be done by the project manager. There is a requirement of
making the city a full-fiber city so that they have the fastest broadband. They have to make
infrastructural changes and take all the actions systematically. The project manager is the person
who formulates the plan and decides the logical steps to carry on the project. The project
manager indulged in project initiation, planning, execution, and control (Lock, 2017). All these
tasks are undertaken by the project manager. The person analyses all the areas that need
Project management can be defined as the process of leading the work of the team that
helps to achieve goals and objectives. The information is captured in project documentation that
is formulated in starting of the project. It is necessary to take care of the scope, time, and budget
so that the project is completed on time (Petrocelly, 2018). This report is based on “The smart
city.” The aim is the overall development the Hull city so that it can become the first smart city
in the UK. In this report, there is a discussion related to the skills that are required by a project
manager to develop the Smart City OS project. All the actions that must be taken by the project
manager are being examined in the report. The stakeholders are being identified so that a proper
stakeholder map is formulated. The engagement of the stakeholders is important to achieve the
success of this project. The importance of project triangle parameters is mentioned and
interrelationship among them is also identified. The possible changes that can be made within
this project are also mentioned in the report so that the city can achieve its aim. The risk that may
arise at the time of the project is being analyzed so that actions can be taken. Different conflicts
may arise at the time of undertaking the project, so they are also examined in this report. There is
the key role of teamwork to achieve the task properly and achieve success, so the role of the
project manager to manage teamwork is also discussed. At the end of this report, there is a self-
evaluation done to know about the progress made in the project.
MAIN BODY
Task 1 – The Project Manager
Critically discuss what skills the project manager of the Smart City OS project needs to develop
to be effective
The project manager plays a key role in the success of a project. It is seen that to make a
city smart numerous changes must be done by the project manager. There is a requirement of
making the city a full-fiber city so that they have the fastest broadband. They have to make
infrastructural changes and take all the actions systematically. The project manager is the person
who formulates the plan and decides the logical steps to carry on the project. The project
manager indulged in project initiation, planning, execution, and control (Lock, 2017). All these
tasks are undertaken by the project manager. The person analyses all the areas that need
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improvement so that appropriate actions are taken. The skills that are required by a project
manager are as follows:
Research skills: There is a need for effective research skills so that they are can develop
the city as a smart city. It helps to know about all the requirements of the project so that
resources can be arranged. There is a need to conduct research properly and identify all the
important points. In this case, of Hull city, the project manager has to conduct research related to
the actions that are taken by the other cities in order to become smart. The key areas must be
noted down (Giao and Trang, 2020). Effective research will support the process of planning and
then the project of a smart city can be executed effectively. The project manager of smart city
has analyzed that they must use the latest technology and bring IoT, AI, and machine learning
algorithms. All this will develop the city as a smart city.
Communication skills: There is a need for proper communication skills as they help to
develop relations. A project manager must have effective communication skills in order to
interact with all the stakeholders of the project and develop relations with them. All the work
related to infrastructure needs proper communication and making others understand will be
necessary for the success of a project. The communication skills will also assist in completing
the teamwork. The team can coordinate with each other in each and every area so that they can
make it a smart city as early as possible. The use of communication skills helps to develop
relations with the team members and complete the work.
Risk management: While undertaking a project there is a need for various challenges
and risks. The environment is uncertain, the person handling the project must have the ability to
manage the risk that might arise (Adeleke and et.al., 2019). There is a certain risk such as
financial, operational, technological, political, etc. These are external factors and may create a
hindrance to the success of the project. So, the project manager of Smart city must analyze the
risk in advance and must be ready with the precautions. They must take actions that minimize the
risk so that they can manage the project. The project doesn’t have to get completed in the budget
that is decided. There are 10 risks identified in this project. There may be changes in the
monetary figure and that is also a risk. The project manager must be ready with backup options.
It is being evaluated that, there is a need for various skills such as communication, risk
management, and research skills in order to carry on the project in an effective manner. If a
manager are as follows:
Research skills: There is a need for effective research skills so that they are can develop
the city as a smart city. It helps to know about all the requirements of the project so that
resources can be arranged. There is a need to conduct research properly and identify all the
important points. In this case, of Hull city, the project manager has to conduct research related to
the actions that are taken by the other cities in order to become smart. The key areas must be
noted down (Giao and Trang, 2020). Effective research will support the process of planning and
then the project of a smart city can be executed effectively. The project manager of smart city
has analyzed that they must use the latest technology and bring IoT, AI, and machine learning
algorithms. All this will develop the city as a smart city.
Communication skills: There is a need for proper communication skills as they help to
develop relations. A project manager must have effective communication skills in order to
interact with all the stakeholders of the project and develop relations with them. All the work
related to infrastructure needs proper communication and making others understand will be
necessary for the success of a project. The communication skills will also assist in completing
the teamwork. The team can coordinate with each other in each and every area so that they can
make it a smart city as early as possible. The use of communication skills helps to develop
relations with the team members and complete the work.
Risk management: While undertaking a project there is a need for various challenges
and risks. The environment is uncertain, the person handling the project must have the ability to
manage the risk that might arise (Adeleke and et.al., 2019). There is a certain risk such as
financial, operational, technological, political, etc. These are external factors and may create a
hindrance to the success of the project. So, the project manager of Smart city must analyze the
risk in advance and must be ready with the precautions. They must take actions that minimize the
risk so that they can manage the project. The project doesn’t have to get completed in the budget
that is decided. There are 10 risks identified in this project. There may be changes in the
monetary figure and that is also a risk. The project manager must be ready with backup options.
It is being evaluated that, there is a need for various skills such as communication, risk
management, and research skills in order to carry on the project in an effective manner. If a
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person will lack these skills that they may face issues in achieving the goals and objectives of the
project. The person must know the skills and develop them in working properly.
Actions that are taken by the project manager
They must formulate a schedule that includes all the activities that they have to
undertake. It is necessary to divide the overall task into small activities so that they are
able to manage the work of a small city properly.
They must manage their team members. The success of the project depends on the
coordination among the team members (Arbabi, Salehi-Taleshi, and Ghods, 2020). They
check the progress of the team members in order to achieve success in the overall project.
They must be ready with new and innovative ideas for completing the project. They must
use all the efforts so that they can achieve success for all the people who are involved.
Task 2 Decision making and problem-solving
Identify relevant stakeholders and create a stakeholder influence map for the Smart City OS
project
Stakeholders are the people that are interested in the project and get influenced by
the project. These people have contributed to the progress of the project. The project manager
must disclose all the information to the stakeholders. There is a need to use updated technology
and provide better opportunities for employment (Badiru, 2021). There is a need for
stakeholders’ participation so that they can make Hull the first smart city. It is necessary to
involve the stakeholder to attain the activities effectively. The steps followed to create a
stakeholder’s map are as follows:
Brainstorm all potential stakeholders: It is the first step, in which Hull City Council
identifies that how many people are there who will get influenced by the project of a smart city.
They are changing combinations of technologies and disciplines, seamlessly integrated to
achieve success. There is a need to analyze the list of people that will influence the project.
Customers
Businesses
Government
Professionals
Local People
project. The person must know the skills and develop them in working properly.
Actions that are taken by the project manager
They must formulate a schedule that includes all the activities that they have to
undertake. It is necessary to divide the overall task into small activities so that they are
able to manage the work of a small city properly.
They must manage their team members. The success of the project depends on the
coordination among the team members (Arbabi, Salehi-Taleshi, and Ghods, 2020). They
check the progress of the team members in order to achieve success in the overall project.
They must be ready with new and innovative ideas for completing the project. They must
use all the efforts so that they can achieve success for all the people who are involved.
Task 2 Decision making and problem-solving
Identify relevant stakeholders and create a stakeholder influence map for the Smart City OS
project
Stakeholders are the people that are interested in the project and get influenced by
the project. These people have contributed to the progress of the project. The project manager
must disclose all the information to the stakeholders. There is a need to use updated technology
and provide better opportunities for employment (Badiru, 2021). There is a need for
stakeholders’ participation so that they can make Hull the first smart city. It is necessary to
involve the stakeholder to attain the activities effectively. The steps followed to create a
stakeholder’s map are as follows:
Brainstorm all potential stakeholders: It is the first step, in which Hull City Council
identifies that how many people are there who will get influenced by the project of a smart city.
They are changing combinations of technologies and disciplines, seamlessly integrated to
achieve success. There is a need to analyze the list of people that will influence the project.
Customers
Businesses
Government
Professionals
Local People

Project management organization (Hull City Council, technology company Connexin and
Cisco. Connexin)
Resource suppliers
Data operators
Telecommunication organization
Energy suppliers
Political parties
Research departments
Property developers
Identify the natural group of stakeholders
In this stage, the focus is on analyzing the target and natural stakeholders. It helps to
know about the work that will be undertaken by these stakeholders and their contribution to the
project.
Users The local people that are living in Hull City
Supply Chain Resources manufacture Technology company Connexin
and Cisco. Connexin
Technology The infrastructural developers, technological experts, Hull
City Council (Abyad, 2017).
Pressure groups Government and political party
External groups Investors, business organizations, media, etc.
Construct the map
Cisco. Connexin)
Resource suppliers
Data operators
Telecommunication organization
Energy suppliers
Political parties
Research departments
Property developers
Identify the natural group of stakeholders
In this stage, the focus is on analyzing the target and natural stakeholders. It helps to
know about the work that will be undertaken by these stakeholders and their contribution to the
project.
Users The local people that are living in Hull City
Supply Chain Resources manufacture Technology company Connexin
and Cisco. Connexin
Technology The infrastructural developers, technological experts, Hull
City Council (Abyad, 2017).
Pressure groups Government and political party
External groups Investors, business organizations, media, etc.
Construct the map
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Review the stakeholder’s map: In this step, the review of the stakeholders’ map is being
done. There is a need to understand that taking permission from the government is a necessary
step. The project management team has to discuss the plan with the government so that there is a
problem in the end. It is also seen that the need for an IT team is there. The professionals must
conduct all the activities effectively so that they can make Hull city the first smart city. The
proper plan must be presented in front of stakeholders so that they invest in the project. There is
a need for various resources that will help to achieve the project goals. The main aim is to
consult with the IT team because they have to bring digital changes. Taking the consent of all the
stakeholders is important so that the project can be undertaken effectively.
Techniques to engage stakeholders
Several techniques are being used to engage the stakeholders and they are mentioned
below:
Communicate: One of the best ways to engage the stakeholders is to communicate with
them. Regarding the Smart city project, there is a need to interact with the stakeholders so that
they are engaged. All the IT team members must be told ability the to plan for making the
programming city so that they are able to hare the ideas (Perera and Sudusinghe, 2017). There is
a need to understand that proper interaction with them will keep them engaged in the project so
that desired actions are taken within the right time. All the problems that are faced by them must
be addressed with time so that they can achieve success.
Stakeholders focus group: They must focus on the group of stakeholders that are
associated with the project. This technique will help the project manager of Smart city to
understand the target stakeholders (Wang and et.al., 2017). It is necessary to cooperate with them
to fulfill their desires to achieve the goals and objectives of the project.
The use of all these techniques is beneficial for the project management team and they
will be able to engage the stakeholders in the project.
Task 3: The project triangle
Critically discuss the importance of the various project triangle parameters that will need to be
managed by the Smart City OS project manager
The project triangle is formulated by a combination of 3 important aspects. These
elements help to achieve the goals and objectives of the project effectively. They are necessarily
done. There is a need to understand that taking permission from the government is a necessary
step. The project management team has to discuss the plan with the government so that there is a
problem in the end. It is also seen that the need for an IT team is there. The professionals must
conduct all the activities effectively so that they can make Hull city the first smart city. The
proper plan must be presented in front of stakeholders so that they invest in the project. There is
a need for various resources that will help to achieve the project goals. The main aim is to
consult with the IT team because they have to bring digital changes. Taking the consent of all the
stakeholders is important so that the project can be undertaken effectively.
Techniques to engage stakeholders
Several techniques are being used to engage the stakeholders and they are mentioned
below:
Communicate: One of the best ways to engage the stakeholders is to communicate with
them. Regarding the Smart city project, there is a need to interact with the stakeholders so that
they are engaged. All the IT team members must be told ability the to plan for making the
programming city so that they are able to hare the ideas (Perera and Sudusinghe, 2017). There is
a need to understand that proper interaction with them will keep them engaged in the project so
that desired actions are taken within the right time. All the problems that are faced by them must
be addressed with time so that they can achieve success.
Stakeholders focus group: They must focus on the group of stakeholders that are
associated with the project. This technique will help the project manager of Smart city to
understand the target stakeholders (Wang and et.al., 2017). It is necessary to cooperate with them
to fulfill their desires to achieve the goals and objectives of the project.
The use of all these techniques is beneficial for the project management team and they
will be able to engage the stakeholders in the project.
Task 3: The project triangle
Critically discuss the importance of the various project triangle parameters that will need to be
managed by the Smart City OS project manager
The project triangle is formulated by a combination of 3 important aspects. These
elements help to achieve the goals and objectives of the project effectively. They are necessarily
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important as they help the project manager to know about the ways to control and measure the
performance of the project. They are able to identify the ineffective practices that might arise. In
regard to the smart city projects, there is a need to, first of all, set the budget and analyze the
scope of the project, then work to complete it within the time limit (Friess, 2018). It will help the
city to become a fiber city within the time limit. It is important to complete the project within the
right time so that others do not take lead. Hull city wants to become the first smart city in the UK
so the project team must understand that they have to work effectively. The plan has wide scope
as it will lead to benefit of all the local people that live in Hull city. The rate of employment will
enhance, lifestyle, the comfort of living will also enhance. They want to provide the best
broadband connectivity and this will also help the people living there to take advantage of
services.
Cost: Setting the budget is the backbone of a project. There is a need to manage the work
effectively by analyzing the cost involved in the same. The finance team of the project will work
to decide the budget of the project. There is a need to analyze the cost that will be required to
manage the project in an appropriate manner (Mesároš and et.al., 2021). One of the investors
KCOM had invested £85m in the city’s full-fiber network. All the requirements must be
performance of the project. They are able to identify the ineffective practices that might arise. In
regard to the smart city projects, there is a need to, first of all, set the budget and analyze the
scope of the project, then work to complete it within the time limit (Friess, 2018). It will help the
city to become a fiber city within the time limit. It is important to complete the project within the
right time so that others do not take lead. Hull city wants to become the first smart city in the UK
so the project team must understand that they have to work effectively. The plan has wide scope
as it will lead to benefit of all the local people that live in Hull city. The rate of employment will
enhance, lifestyle, the comfort of living will also enhance. They want to provide the best
broadband connectivity and this will also help the people living there to take advantage of
services.
Cost: Setting the budget is the backbone of a project. There is a need to manage the work
effectively by analyzing the cost involved in the same. The finance team of the project will work
to decide the budget of the project. There is a need to analyze the cost that will be required to
manage the project in an appropriate manner (Mesároš and et.al., 2021). One of the investors
KCOM had invested £85m in the city’s full-fiber network. All the requirements must be

mentioned in one place and then the cost must be analyzed. The success of the project will help
the city to enhance its contribution to GDP and provide various employment opportunities. They
must use all the quality resources so that they can provide quality services. The success of the
project must assure that they provide IT services. The use of the latest technology will enhance
the cost in starting the project but they will get the advantage of economy of scale because they
are undertaking such a large project. It will help them to enhance the image of the city and
achieve the objectives.
Time: There is a need to take proper care of time limits to complete the project. There is
a need to form a schedule so that they are able to work according to the same. Other cities are
also in the race and doing efforts to achieve the target of a smart city. They must work to
understand the importance of time. Proper planning done by them will help to complete the
project of the smart city on time. The use of the latest technology will be helpful. The desired
outcomes can be achieved by working with full dedication. Providing proper training to the
persons undertaking the project will be helpful (Luiz and et.al., 2019). All the decisions related
to improvements in the network must be analyzed in the starting. Various uncertainties are
present in the external environment so appropriate actions are taken. There is a need to make
effective future plans and attain success.
Scope: This shows the overall progress of the project. A smart city is a project with a
wider scope. It is necessary to work in such a manner that all the stakeholders get the benefit of
the situation. There is a need to analyze the needs and wants of all the members involved in the
project so that necessary actions can be taken. There is a need to work according to the plan and
make the city fiber city. They want to enhance telecommunication services and enhance the way
of living. The project scope must be analyzed in a proper manner.
It is analysed that there is a need of working according to the project triangle. If the
company will not take care of the scope of the project they will not be able to achieve the goals
and objectives. There is a significant role in forming a budget so that the Smart city project does
not face any issues related to finance. The formulation of a budget is necessary to complete the
project of the smart city. Time also plays a significant role and completing work within the right
time will help them to gain an advantage because they want to become the first smart city in the
UK.
the city to enhance its contribution to GDP and provide various employment opportunities. They
must use all the quality resources so that they can provide quality services. The success of the
project must assure that they provide IT services. The use of the latest technology will enhance
the cost in starting the project but they will get the advantage of economy of scale because they
are undertaking such a large project. It will help them to enhance the image of the city and
achieve the objectives.
Time: There is a need to take proper care of time limits to complete the project. There is
a need to form a schedule so that they are able to work according to the same. Other cities are
also in the race and doing efforts to achieve the target of a smart city. They must work to
understand the importance of time. Proper planning done by them will help to complete the
project of the smart city on time. The use of the latest technology will be helpful. The desired
outcomes can be achieved by working with full dedication. Providing proper training to the
persons undertaking the project will be helpful (Luiz and et.al., 2019). All the decisions related
to improvements in the network must be analyzed in the starting. Various uncertainties are
present in the external environment so appropriate actions are taken. There is a need to make
effective future plans and attain success.
Scope: This shows the overall progress of the project. A smart city is a project with a
wider scope. It is necessary to work in such a manner that all the stakeholders get the benefit of
the situation. There is a need to analyze the needs and wants of all the members involved in the
project so that necessary actions can be taken. There is a need to work according to the plan and
make the city fiber city. They want to enhance telecommunication services and enhance the way
of living. The project scope must be analyzed in a proper manner.
It is analysed that there is a need of working according to the project triangle. If the
company will not take care of the scope of the project they will not be able to achieve the goals
and objectives. There is a significant role in forming a budget so that the Smart city project does
not face any issues related to finance. The formulation of a budget is necessary to complete the
project of the smart city. Time also plays a significant role and completing work within the right
time will help them to gain an advantage because they want to become the first smart city in the
UK.
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Task 4 Managing finance
The project manager on what resources may be required for this project and what could be an
effective cost estimation technique for the Smart City OS project
Finance plays a major role in the completion of the project. There is a huge importance of
forming a budget. The money must be collected from the right sources and the investment must
also be done properly (Stern, 2020). There is a need to manage the overall work properly. There
is a need for some resources that will facilitate the project and complete the same properly. The
resources required for the project of Smart City OS project are as follows:
Data
The Network
Facilitating IoT Connectivity
Modular Infrastructure
Security
Privacy from the Ground Up
Sensors and Data Capture
Efficient delivery of public utilities such as water, electricity, solid waste, sanitation, and
sewerage
Mechanism for supply-demand matching
Transport services to provide congestion-free roads
There is a need to know about the approaches of finance for cost estimation and they are
discussed below:
Analogous Estimating: The focus of this technique is on understanding the needs in
order to prepare the best project plan. There is a need to analyze the experience and then estimate
the cost of the project. A clear set of strategies must be developed by the project manager so that
they are able to estimate the budget. There is a need for Connexion and Cisco city platforms. The
requirement of IT solutions that will enable the success of the project. The cost must be analyzed
properly so that all the requirements are fulfilled.
Parametric Estimating: This approach is based on statistical data. The use of already
existing data of related projects is undertaken. The current cost is estimated by analyzing the
previous similar projects and also considering the inflation rate. The requirements must also be
The project manager on what resources may be required for this project and what could be an
effective cost estimation technique for the Smart City OS project
Finance plays a major role in the completion of the project. There is a huge importance of
forming a budget. The money must be collected from the right sources and the investment must
also be done properly (Stern, 2020). There is a need to manage the overall work properly. There
is a need for some resources that will facilitate the project and complete the same properly. The
resources required for the project of Smart City OS project are as follows:
Data
The Network
Facilitating IoT Connectivity
Modular Infrastructure
Security
Privacy from the Ground Up
Sensors and Data Capture
Efficient delivery of public utilities such as water, electricity, solid waste, sanitation, and
sewerage
Mechanism for supply-demand matching
Transport services to provide congestion-free roads
There is a need to know about the approaches of finance for cost estimation and they are
discussed below:
Analogous Estimating: The focus of this technique is on understanding the needs in
order to prepare the best project plan. There is a need to analyze the experience and then estimate
the cost of the project. A clear set of strategies must be developed by the project manager so that
they are able to estimate the budget. There is a need for Connexion and Cisco city platforms. The
requirement of IT solutions that will enable the success of the project. The cost must be analyzed
properly so that all the requirements are fulfilled.
Parametric Estimating: This approach is based on statistical data. The use of already
existing data of related projects is undertaken. The current cost is estimated by analyzing the
previous similar projects and also considering the inflation rate. The requirements must also be
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matched so that the estimated cost is right (Usman, 2018). They must work to eliminate the
wastage of resources so that they are able to become cost-friendly.
Three-point estimating: In this method, the project manager must assure that they take
care of the potential cost. It is important to analyze the uncertainties in the process of the project.
There is a need to analyze the problems that may arise and at the same time analyze the cost.
This method is suitable when there are so many risks available in the external environment.
Delphi Method: It is a method of forecasting that is being used by the project
management team. The experts and professionals are indulged in analyzing the risk. They use
surveys and questionnaires to forecast the cost that might be indulged in the process of the Smart
city project. The point of view of all the stakeholders is undertaken and then the cost is decided.
It is a vast project that will help evaluate the cost-effectively.
Comparison of two cost estimation techniques
Analogous Estimating Delphi Method
The use of historical data is done to analyze the
cost.
Various areas that are related to the project are
being analyzed.
It is done by leaders and managers It is undertaken by professionals and experts.
The stakeholders are not involved. All the professionals are concerned to carry on
the project.
The hull council must go for the Delphi method of estimating the budget. The
professionals in the field can take the right decision. This assists them to analyse the cost wisely
so that there are no issues faced by the team afterward. They will also talk to all the stakeholders
that are being involved in the process.
Task 5 Risk management within the project
Develop a risk analysis by constructing a risk register for the Smart City OS project.
There are uncertainties present in the market. It is important to analyze risk at the time of
starting a project so that it can be implemented effectively. If the risk is not identified and
precautionary actions are not taken by a business organization, then they have to face issues.
wastage of resources so that they are able to become cost-friendly.
Three-point estimating: In this method, the project manager must assure that they take
care of the potential cost. It is important to analyze the uncertainties in the process of the project.
There is a need to analyze the problems that may arise and at the same time analyze the cost.
This method is suitable when there are so many risks available in the external environment.
Delphi Method: It is a method of forecasting that is being used by the project
management team. The experts and professionals are indulged in analyzing the risk. They use
surveys and questionnaires to forecast the cost that might be indulged in the process of the Smart
city project. The point of view of all the stakeholders is undertaken and then the cost is decided.
It is a vast project that will help evaluate the cost-effectively.
Comparison of two cost estimation techniques
Analogous Estimating Delphi Method
The use of historical data is done to analyze the
cost.
Various areas that are related to the project are
being analyzed.
It is done by leaders and managers It is undertaken by professionals and experts.
The stakeholders are not involved. All the professionals are concerned to carry on
the project.
The hull council must go for the Delphi method of estimating the budget. The
professionals in the field can take the right decision. This assists them to analyse the cost wisely
so that there are no issues faced by the team afterward. They will also talk to all the stakeholders
that are being involved in the process.
Task 5 Risk management within the project
Develop a risk analysis by constructing a risk register for the Smart City OS project.
There are uncertainties present in the market. It is important to analyze risk at the time of
starting a project so that it can be implemented effectively. If the risk is not identified and
precautionary actions are not taken by a business organization, then they have to face issues.

There are various events and circumstances where risk may arise (Bandy, 2018). Along with that
use of the latest technology is also risky. Regarding the Smart City project, they are working on
certain aspects for example fiber connection, infrastructural development. All this also raises the
risk for the project team. It is important to analyze the risk that is present while the project takes
place. The risk register is attached below that discusses the risk and it is formulated below:
RISK RISK LEVEL
(Low, Medium and
High)
LIKELIHOOD OF
EVENTS
MITIGATION
STRATEGY
Technological Risk HIGH VERY LIKELY TO
TAKE PLACE
By using the latest
technology
Operational Risk- MEDIUM LIKELY TO POSSIBLE By reviewing the
performance again and
again
Financial Risk LOW IT MAY ARISE To use the right
technique of finance
Political Risk MEDIUM LIKELY TO POSSIBLE To take all the
permissions from the
government
Strategic Risk LOW IT MAY OCCUR By using the correct
strategy implementation
plan
Environmental Risk MEDIUM LIKELY TO POSSIBLE By using the right
resources and reducing
waste
Reputation Risk LOW IT MAY OCCUR By achieving success in
the project
Scheduling Risk MEDIUM LIKELY TO POSSIBLE By following the
deadlines
Execution Risk MEDIUM LIKELY TO POSSIBLE By cross-checking all
use of the latest technology is also risky. Regarding the Smart City project, they are working on
certain aspects for example fiber connection, infrastructural development. All this also raises the
risk for the project team. It is important to analyze the risk that is present while the project takes
place. The risk register is attached below that discusses the risk and it is formulated below:
RISK RISK LEVEL
(Low, Medium and
High)
LIKELIHOOD OF
EVENTS
MITIGATION
STRATEGY
Technological Risk HIGH VERY LIKELY TO
TAKE PLACE
By using the latest
technology
Operational Risk- MEDIUM LIKELY TO POSSIBLE By reviewing the
performance again and
again
Financial Risk LOW IT MAY ARISE To use the right
technique of finance
Political Risk MEDIUM LIKELY TO POSSIBLE To take all the
permissions from the
government
Strategic Risk LOW IT MAY OCCUR By using the correct
strategy implementation
plan
Environmental Risk MEDIUM LIKELY TO POSSIBLE By using the right
resources and reducing
waste
Reputation Risk LOW IT MAY OCCUR By achieving success in
the project
Scheduling Risk MEDIUM LIKELY TO POSSIBLE By following the
deadlines
Execution Risk MEDIUM LIKELY TO POSSIBLE By cross-checking all
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