Description
Write a 2-3 page paper in APA format (not including the cover page and reference page) and complete the six (6) templates. Please click here to view the criteria by which you will be assessed for the achievement of the CLO for this unit. Please use the APA Sample provided in in the student resources to complete your assignment.
For this class, you will be analyzing a project. You may select a project that you have worked on in the past, or you may make up a fictitious project. Another choice is to Google for failed projects and then develop a plan that would have helped the project succeed. In most cases, you will need to develop a plan for a ground based team to successfully complete the project; and at the same time, you will develop a plan for a virtual team to successfully complete the project.
As you know, each type of project will face its own challenges and as you develop your plan for project success, you need to address the differences in the projects. You do not have to use the same project from week to week, but you may find it helpful to do so. If you decide to change projects, each week, you will need to explain to your instructor an overview of the project. This week, you will complete a stakeholder register for a virtual team and a stakeholder register for an on-ground team.
You will also complete a stakeholder management plan for both teams. Download the Stake holder-register-template and stakeholder management plan. You also need to complete a risk management plan for each team. Download the risk management plan. After you have completed the templates, write a paper in APA format that explains why you think your stakeholder management plan and risk management plan will be effective for each team.
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OUTLINE
1
Outline
Student’s Name
Institutional Affiliation
Instructor’s Name
Course
Due Date
OUTLINE
2
Outline
I.
Introduction
a. Topic: Developing Project Plan: The Millennium Dome
b. Project overview
II.
Project Plan for the Ground Team to Complete the Project
a. Develop a project vision
b. Define management structure
c. Project costing and Income
III.
Project Plan for the Virtual Team to Complete the Project
a. Establishing communication channels
b. Develop the right methodology
c. Conduct market survey
IV.
Justification for Stakeholder and Risk Management Plans
a. Ground-based team
b. Virtual team
V.
Appendices: Templates
DEVELOPING PROJECT PLAN
1
Developing Project Plan
Student’s Name
Institutional Affiliation
Instructor’s Name
Course
Due Date
DEVELOPING PROJECT PLAN
2
Developing Project Plan: The Millennium Dome
Planning is a critical phase in project management. Failure to plan is likely to lead to
suboptimal outcomes or complete failure. This plan is developed for the Millennium Dome, a
project that failed because of fundamental weaknesses during the planning stage.
Project Background
Millennium Dome is a megastructure based in Greenwich peninsula in London. The
structure was intended for celebrating the turn of the third millennium (Abbasi et al., 2014). It
contained a theme park as well as a scientific exhibition. However, the project failed to attract
visitors that would generate revenues to maintain the project. On 31 December 2000,
administrators announced closing the project because of the low visitor numbers. The dome was
eventually sold and converted to a stadium.
Project Plan for the Ground Team to Complete the Project
Develop a project vision
One of the key reasons for the project failure was the lack of proper planning. The project
lacked clarity regarding its scope. For example, the project plan involved converting the dome into
a soccer pitch for any of the London football teams. However, the plan did not involve prospective
teams during the development phase making the final product improper for football use (Abbasi
et al., 2014). Second, the project did not provide adequate cover for the £1 million maintenance
costs that proved to be too high. The project should define and develop a long-term vision of the
project supplemented with well-defined project scope (Larson & Gray, 2014). The essence of the
vision is to offer a commonality of purpose among all decision-makers.
Define management structure
DEVELOPING PROJECT PLAN
3
The management structure should be reconstituted to ensure that all project activities are properly
defined and covered. In particular, the marketing and advertising function was properly addressed
and the financial management overlooked critical elements such as short-term and long-term costs.
The management team should indicate lines of authority and the interaction patterns to follow.
Project costing and Income
The total estimate of project costs should be reasonable. Before the commencement of the
project, it is vital to conduct feasibility and viability studies to determine the sustainability of the
project. The project manager should proceed with the project if the full life-cycle assessment of
project costs and returns indicates sustainability. It is critical to realize that additional costs could
arise at later stages making it necessary to account for them during preliminary project assessment
(Larson & Gray, 2014). The significance of project planning is evident in the Millennium Dome
project. Estimating project income was particularly vital for the project. Projects that rely on the
visitor for income may be challenging especially because of the uncertainties and difficulties
surrounding the estimation of the number of visitors. The project manager should have
contingency plans to cover for low visitor turnover.
The marketing manager should be properly facilitated to conduct robust marketing and
advertisement of the project to generate interest within the public. Aggressive marketing tactics
are likely to increase the number of visitors and the associated project revenues (Jimenez et al.,
2017). Crucially, the project manager should allow for a reasonable period to sell the project idea
to the public in anticipation of increased customer engagements in the future. Contingency
planning will be vital for the project to overcome adverse variances. Contingency planning refers
to a plan that is developed in anticipation of an outcome that is contrary to the expectations.
Project Plan for the Virtual Team to Complete the Project
DEVELOPING PROJECT PLAN
4
The virtual team plays a crucial role in ensuring the success of the project. However, the
effectiveness of the virtual team in successfully turning around the project Millennium Dome will
depend on a variety of factors.
Establishing communication channels
Establishing communication patterns is vital for virtual teams. Since the majority of
communication is likely to take place through telephone and e-mail conversations, it is crucial to
hire good writers to form this critical team (Jimenez et al., 2017). Proper communication skills
limit misunderstandings and enhance rapid decision-making. Additionally, the lead project
manager should set a common meeting schedule with all team members. The project manager and
project leads should make daily calls/emails to all virtual team members to ascertain the current
status of their tasks such as what has been accomplished, pending tasks, and any challenges faced.
Develop the right methodology
Determining the right mechanisms within which to run a virtual team is important. The
project manager in collaboration with the IT team should identify appropriate online tools that
enable collaborative work to support the execution of assignments and scheduled tasks (Jimenez
et al., 2017). For example, virtual teams should engage the public through social media to raise
project awareness as a way of increasing sales turnover.
Conduct market survey
The feasibility of the project relies on its relevance to the consumer. The virtual team
should conduct a market survey regularly to determine consumer expectations and preferences.
The general trends in public taste regarding theme parks and quality standards of stadium
development should be well understood from the inception of the project to make it relevant to the
final consumer. Online market surveys using social media and telephone calls would lead to an
DEVELOPING PROJECT PLAN
5
informed decision-making process (Larson & Gray, 2014). The process will provide insight into
the nature of products and services to provide through the project to make it commercially viable.
Millennium Dome failed partly because of poor marketing strategies that relied on ticket sales and
word of mouth. The marketing budget was also set very low making it difficult to raise public
awareness of the project offering.
DEVELOPING PROJECT PLAN
6
References
Abbasi, N., Wajid, I., Iqbal, Z., & Zafar, F. (2014). Project failure case studies and
suggestions. International journal of computer applications, 86(6).
Jimenez, A., Boehe, D. M., Taras, V., & Caprar, D. V. (2017). Working across boundaries: Current
and
future
perspectives
on
global
virtual
teams. Journal
of
International
Management, 23(4), 341-349.
Larson, E. W., & Gray, C. F. (2014). Project management: the managerial process 6th ed.
McGraw-Hill Education.
PROJECT RISK MANAGEMENT PLAN TEMPLATE
This template enables you to create a comprehensive and well-evidenced risk management plan. To complete this plan you need to bring together
a wide variety of individuals to ensure all potential risks can be assessed and analyzed to ensure your project’s success. You must gather together
key individuals from your project team, your stakeholders and your subject matter experts so that every assumption and constraint can be fully
discussed and weighted in terms of its probability and severity as it relates to the project.
Using this template will ensure that all communications on project risks are properly analyzed and recorded with all the necessary supporting
documentation. Part of the process of producing this management plan creates to key living documents that any project must have, the risk
register and risk log. Both of these documents are constantly updated and referred to throughout the life of any project and it is this management
plan that defines how this process will be monitored and reported.
This management plan needs a solid foundation of project data that provides sufficient structure to allow probabilities and the level of severity for
each risk to be quantified. For example
•
Assigned ‘key’ project individuals with the responsibility for managing risk.
•
The scope of the project work must be defined. This includes its schedule, costs and resource requirements.
•
Baseline thresholds for costs, resources and schedule must have a minimum and maximum.
•
Reporting requirements must have been established in regards to their different formats, frequencies and circulations.
FRONT COVER
Displays a top-level summary
of essential information
relating to the Risk
Management Plan.
DESCRIPTION: this page details the typical items found on the cover of risk management plan. Amend its contents
to reflect the needs of your specific project and organization’s culture.
•
•
•
•
•
Project Manager is listed as its author along with their contact details.
Project Name that this plan relates to.
Version of Risk Management Plan
– Version history will be shown in relevant appendix.
Approval:
– Lists the names and job titles of each person who as given approval and sign-off of this plan.
– The date and version they have approved accompany their signature.
Circulation List of who (name, location & organization) has received stated version.
© www.free-management-ebooks.com All Rights Reserved
Project
Working Title:
Project
Sponsor:
Version:
Date:
Organization:
Project Description:
Contact tel:
email:
Plan
Author:
Contact tel:
email:
RISK MANAGEMENT PLAN APPROVAL
Printed Name & Job Title
Project Role
John Stone
Project Sponsor
Feline Rawlings
IT Manager
Mary Smith
Marketing Manager
Emily Clinton
Project Manager
Joshua Edwards
Finance Manager
Signature
CIRCULATED TO:
- All departmental unit heads
-
-
-
-
-
-
-
-
-
© www.free-management-ebooks.com All Rights Reserved
Date Approved
INTRODUCTION: describes the purpose of this plan, which is to identify all possible risks to the project. The plan then quantifies how much of a risk
they are, the probability that they could occur and the likely impact they would have on the project if they happened. It outlines how risks will be
monitored, managed and reported on for the duration of the project.
The purpose of this plan is to identify all possible risks associated with the Millennium Dome project. There are several risks associated with the
project ranging financial risks, environmental risks, and legal risks to logistical risks. These risks represent substantial amount to the project
estimated at $500 million. The probability of financial risks are estimated at 20% while environmental risks are assessed at a low of 2%. Financial
risks such as failure to raise capital and low revenue generation can halt the project. However, environmental and logistical risks can only delay
the project. The project will be monitored through regular performance appraisals, observation, and establishing goals and milestones.
RISK MANAGEMENT APPROACH: this plan is written by the project manager and in this section he or she describes how they will manage any
identified risks with the objective of keeping their impact on the project to a minimum. This section defines who will act as risk manager throughout
the project, usually this is the project manager but in some instances it is more effective to assign this role to one individual. It also outlines the
processes to be used to manage the risks faced by the project.
NOTE: Some organizations like to see a high-level description of most critical risks (top three-five) in this section and how they will be mitigated and managed.
Processes:
1. Risk identification
2. Analysing risk
3. Prioritizing risks
4. Implementing solutions
5. Monitori...
