Project Management Report: Stakeholder Analysis & Risk - Stadium

This report provides a comprehensive analysis of stakeholder management and risk assessment within the Lusail Stadium project. It identifies key stakeholders, including the Qatari government, construction companies (Larsen & Turbo), players, FIFA World Cup association, spectators, support staff, investors, creditors, suppliers, and customers, evaluating their power and interest levels. The report also presents a risk register, outlining potential risks such as uncertainty, investor withdrawal, improper management, safety concerns, social issues, content loss, financial loss, permissions, and staffing shortages, along with mitigation strategies. Furthermore, it discusses the importance of procurement knowledge for project managers, highlighting aspects like cost management, negotiation skills, and lean project management principles. The report concludes by emphasizing the benefits and challenges of stakeholder analysis and risk register development, the impact of change requests, and offering recommendations for improving project efficiency and adopting advanced technologies. This resource is available for students looking for similar project management examples and solved assignments on Desklib.

Individual Report

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Stakeholders analyses..................................................................................................................3
Risk analyses of business ...........................................................................................................4
How the knowledge of Procurement helps Project Manager to successfully complete the
project..........................................................................................................................................5
Importance of applying stakeholder analyses and risk register in the project...........................6
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Project management is related to those management under which the managers of the
organisation has lead the activities of the team for the achievement project goals and objectives.
The development of effective project management is one of the core requirement for the success
of any project. There are different types of functions are done by this management such as
planning organising,recruitment and decision making in the project so that all the activities can
be done in effective and systematic manner. Supply chain refers to those chain of the network
which is developed by the company with an aim of providing raw material to the project. Supply
chain is one of the important and valuable aspect for the project of Lusail's stadium. There are
many activities are done by the supply chain. The requirement of the products ad the raw
material are very high in the construction project which is fulfilled by the supply chain
management. The supply chain management helps the managers to provide the right material to
the right place at the right time. This report provides description related to the stakeholder
analyses of the project and the availability of risk present in the project.
TASK
Stakeholders analyses
Stakeholder refers to those term which is used for those person or the groups which hare having
concern or link with any particular project. It is related to those person which are important for
the success of the project. The analyses of these stakeholders are very important for the success
because the minor changes in these parties can cause great damage to the project. The project of
Lusail's stadium is one of the well known project under which the concern of different types of
persons are lined. The brief discussion related to the concerned party analyses are given below:
Government: The government of the Qatar is one of the most important and biggest stakeholder
of the project which has both high power and the interest (Hair and Sarstedt, 2021). All the
decision of the project are taken by them.
Construction company : The construction project of Lusail's stadium was hold by one of the
biggest company of the world which is Larsen and Turbo and the interest of this company are
high but their power are low.
Players : The players which are taking part in the game played in the stadium are the important
stakeholder of the company. The interest of players are high and their power are low.

World cup association : The final match of FIFA world will held in this particular stadium
under which the interest of the governing part are high.
Spectators : The success of the stadium are based on their spectators which came to watch the
matches because the generation of the revenue are based on these spectators.
Support staff : It is one of the important and valuable stakeholder which has perform the duty of
the cleaning and other activities (Mavi and Standing, 2018).
Investors: It is related to those stakeholder of the project which has provide funds for the
construction of the stadium. Both the interest and the power of this stakeholder are high in the
project.
Creditors: It refers to those party under which the management of the project has lend money
such as banks finances and many more.
Suppliers: It is related to those party of the project which has provided raw material for the
project.
Customers : The customers of the project are one of the important and valuable stakeholder of
the project.
Risk analyses of business
S. No. Risk Effect Possibility Mitigation
1 Uncertainty Moderate Low Predicting future uncertainties in
advance as well as formulating
plans in order to deal with them.
2 Withdrawal of
investors
Moderate Low Formulation of the plan for
retaining the interest of the
investors.
3 Improper
management of
website
High Low Proper management of all the
key aspects of the website
development.
4 Safety as well as
security
Low High Assuring the safety as well as
security of employees and data

of customers on the website
5 Social issues High Low Satisfying the expectations of all
the visitors and targeted
audience.
6 Loss of content High Low Making sure that the content on
the website is managed in an
effective manner.
7 Financial loss Low Low Arrangement of funds as per the
requirement of the various
operations of website
development.
8 Permission of local
authorities
Low High Taking permission from the
local authorities of the website
for conducting the transactions
of e-commerce.
9 Lack of employees Low High Effective hiring is required in
order to recruit the employees
for managing website.
How the knowledge of Procurement helps Project Manager to successfully complete the project
Procurement is related to obtaining goods and services for the completion of the project. It is one
of the most important activity of the project management which helps the managers to organise
different types of raw materials and other goods for the project (Galli, 2018). It is very important
for the managers of the project that they have knowledge about the procurement because the
needs of the raw material and other key material are very high and plays important role for the
success of the process. There are different type of knowledges are present in the management
which helps them to function of the procurement in effective manner.
Knowledge of cost
The management of stadium has contains some managers which are having special and effective
knowledge of project costing. The cost of the raw material has serious influence on the success

and failure of the project. These managers has made effective deal with the suppliers and makes
the cost of the project becomes low. If the prices of the raw material becomes high then it will
becomes ineffective for the project to complete with the accuracy.
Negotiation skills
It is one of the most important skills which should be present in the personality of the managers.
These skills enables the management of the organisation to negotiate with the vendors and makes
effective deal for the project.
Lean project management
lean management is one of the effective approach of the business under which the management
of the project has serious focus on the concept of complete improvement. This approach of the
management are one of the important and valuable concept under which all the managers of the
organisation has developed effective strategies for the improvement in the organisation. This
approach of the management are based on the two pillars which are continuous improvement and
the respect of the people. The management of Lusail's project has used this technique and enjoys
different benefits in their management.
 The management of the project has applied the lean approach so that the management of
the waste can be established. This benefits the organisation in their cost advantage. '
 The lean approach of the management helps the project managers to increase the
productivity and efficiency of the business.
 One of the greatest advantage which the management of the stadium project has enjoyed
is effective allocation of resources (Bredillet, Tywoniak and Tootoonchy, 2018). It helps
the organisation to achieve greater advantage of the business.
 The lean approach of the management has enables the management to apply pull system
in the organisation.
Importance of applying stakeholder analyses and risk register in the project
The importance of stakeholders and development of risk register is very high as the number of
factors are present in the market which impacts positive and negative to the project. If the
stakeholders of the company analyse early then it helps to mitigate different types of risk present
with the management.
Challenges

There are many challenges are faced by the management of the organisation to established
effective stakeholder analyses and also the development of risk register. These challenges are
very big and the brief discussion related to the same are given below:
 one of the great challenge present with the organisation is that the management of the
project has done market and environmental research of the market which provide many
efforts.
 The another challenge which the management of the organisation has to faced by the
management is that all the parameters of the market are continuously changing so that the
study of these parameters are very hard to be analyse by the management.
 The management of the project has to deal with the negative part of the covid pandemic
at the time of doing this project.
Benefits
The management of the project has faced many challenges and problems in the development of
stakeholder analyses and risk due to their effective returns in the market. There are many benefits
are present which the management of the project has enjoyed and the brief discussion related tp
the same are given below:
 one of the key benefits which the management of the project has enjoyed in this work is
that all the stakeholder are analysed which helps to make ease in the business.
 The management of the project has enjoyed the benefit of high investment.
 All the risks are mentioned in the register which helps the management of the project to
develop counter strategies to mitigate these risks in the business (Anantatmula and Rad,
2018).
 The level of accuracy and productivity are increased by huge number in the management
of the organisation.
 The analyses of the stakeholders help the management of the organisation to provide
effective and valuable management in the organisation.
Impact of challenges posed by the request of change
The project of Lusail's stadium of Qatar is a national project under which large number of
stakeholders are present with the project. There are some stakeholders are present in the project
which has high power and the interest so the changes of changes from their side becomes more.
The request of these parties will not be forgotten by the management. The environment of the

market becomes dynamic under which the external factors are continuously changing which
enables the management of the project has to face many cosequences from the market which has
both negative and negative impact on the business the brief discussion related to the same are
given below.
 If the request of the change are made in such a way to increase the feature or the key area
in the project then it will impacts the finance of the project. It becomes essential for the
managers to remake the financial planning of the project.
 If the policies of government becomes changes in the organisation then it provides
negative impact to the project. It refers to those factor which becomes threat for the
survival of the project.
 If the changes are related to the use of new and advance technology for the stadium then
it becomes positive for the project because it helps to attract the customers (Aanbari and
Kwak, 2018).
Recommendation
 It is recommended to the management of the organisation that they develop new and
advance technology in the project so that effective returns can be achieved.
 It is recommended to the managers of the project that try to increase the efficiency of the
project which helps to complete the project on time.
CONCLUSION
It is concluded from this report that the development of stakeholder analyses and risk register
are very important for the success of the project. This report concludes different types of
stakeholders which has interest in the project. It is concluded from this report that the
management of the project has used lean approach.

REFERENCES
Books and Journals
Aanbari, F.T. and Kwak, Y.H., 2018, June. Impact on project management of allied disciplines.
Project Management Institute.
Anantatmula, V.S. and Rad, P.F., 2018. Role of organizational project management maturity
factors on project success. Engineering Management Journal, 30(3), pp.165-178.
Bredillet, C., Tywoniak, S. and Tootoonchy, M., 2018. Why and how do project management
offices change? A structural analysis approach. International Journal of Project
Management, 36(5), pp.744-761.
Filippetto, A.S., Lima, R. and Barbosa, J.L.V., 2021. A risk prediction model for software
project management based on similarity analysis of context histories. Information and
Software Technology, 131, p.106497.
Galli, B.J., 2018. Application of system engineering to project management: How to view their
relationship. International Journal of System Dynamics Applications (IJSDA), 7(4), pp.76-97.
Hair, J.F. and Sarstedt, M., 2021. Explanation plus prediction—The logical focus of project
management research. Project Management Journal, 52(4), pp.319-322.
Kim, S., Chang, S. and Castro-Lacouture, D., 2020. Dynamic modeling for analyzing impacts of
skilled labor shortage on construction project management. Journal of Management in
Engineering, 36(1), p.04019035.
Mavi, R.K. and Standing, C., 2018. Critical success factors of sustainable project management in
construction: A fuzzy DEMATEL-ANP approach. Journal of cleaner production, 194, pp.751-
765.
Obradović, V., Todorović, M. and Bushuyev, S., 2018, September. Sustainability and agility in
project management: contradictory or complementary?. In Conference on Computer Science
and Information Technologies (pp. 522-532). Springer, Cham.
Pan, Y. and Zhang, L., 2021. A BIM-data mining integrated digital twin framework for advanced
project management. Automation in Construction, 124, p.103564.