Wembley Stadium: Project Management Principles, Establishment and Measurement of Success and Failure - Assignment Example

Wembley Stadium: Project Planning Name Course Name and Code Instructor’s Name Date Q1. Major Project Management Principles Any project follows a specific lifecycle because it is associated with numerous dynamics that includes scales and time restraints (Gido and Clemens, 2009). In every project including the construction of Wembley Stadium, there are four important phases in which a project should follow. These four phases are the definition, planning, execution and closure. Phase 1: Definition – this stage involves defining the scope and purposes of the project and the justification for undertaking the given project the solution in which the project is being implemented (Schwalbe, 2006). Some of the factors considered at this stage include business case, feasibility study, terms of references, project team and phase review. Phase 2: Planning – the second stage is planning and it involves creating a set of documents that guides the project team towards fulfilling the requirements of the project. Source of the factors that are considered at this stage include project plan that incorporates work breakdown structure, the resource plan, financial plan, quality plan, risk plan, acceptance plan and communication plan. Phase 3: Execution – this is the third phase whereby the deliverables are done based on the requirements of the customer for acceptance. This stage involves numerous management processes that allows control and monitor activities (Gido and Clemens, 2009). Some of the activities that can be accomplished by a project manager include setting monitoring and control deliverables that include time management, cost management, quality management, risk management and acceptance management. These numerous monitoring and control factors are aimed to ensure value for money is achieved. Phase 4: Closure – this is the last phase for the project in which the project manager hands over the completed project to the customer. Other information handed to the customer include termination of supplier contracts, project documentation, release of project resources and also communicating project closure to stakeholders involved. Q2. Work breakdown structure The aim of work breakdown is split the entire work into separate parts or segments in which each segment or phase must be completed before proceeding to the next stage (Gido and Clemens, 2009). The work breakdown of Wembley Stadium is illustrated in the image below. Numerous benefits are associated with breaking down of a major project into phases. Some of the benefits associated with breaking of a project such as construction of Wembley Stadium include discovery what specifically should be completed and accomplished within specific phases that play an important role in ensuring the project becomes successful (Harris, 2009). In addition, breaking down an entire project into phases allows effective allocation of resources that are required at specific phases of the project. This means it allows for sequencing and coordinating the entire work and reduces the chances of occurrence of problems. Insert the diagram Q3. Establishment and measurement of success and failure In any project, there are important derivable that utilised in determining whether a project becomes successful or whether the project is a failure. Four common components that are utilised in measuring the success or failure of a project include cost, time, quality and return on investment. In understanding the contribution of this four factors, construction and completion of Wembley Stadium is utilised as an example (Gido and Clemens, 2009). The cost of construction of the Wembley Stadium doubled after completion and the factors associated with this aspect is the prototype of the project and also changes in sub-contractors involved with the project. Moreover, the issue of cost is associated with the lowest bidder who took longer to complete construction of the stadium. Time was also another issue in construction of Wembley Stadium because the project delayed for more than five years. Time is important in any project and it is appropriate for project manager to follow the timeline with the aim of accomplishing the task as planned. Quality played a major role in the construction of the stadium. The entire project should follow the project scope and other quality determinant factors (Schwalbe, 2010). Generally, the quality of the stadium was/is above board and it has resulted in hosting numerous games and matches. In the same way, return on investment is also evident because even though the project took a longer time and the numerous activities that can take place, the return on investment is good. Therefore, utilisation of these four measurements would easily determine whether a project becomes successful or it is a failure. Q4. Q5. Q6. Initiation stage/Start up Procedures The initiation stage defines the scope and purpose of the project through justification of the project and the aimed solution in which the project is premised. The first important aspect in this stage is analysis of the business case (Gido and Clemens, 2009). The business case aims to analyse the potential cost of the project and whether there is an alternative approach towards competition of the project. It also defines the benefits that would result after completion of the project. Another important aspect is doing a feasibility study in that whether the approach utilised is the best preferred solution. This brings into consideration the stakeholders such as contractors and suppliers that are involved in accomplishing tasks associated with the project (Melton, 2011). In addition, appropriate contracts are made and approved by the project management. The project team is then appointed and allowed to recruit employees such as electrician and accountants who would guide the project process. This stage also allows analysis of whether an effective team is in place and whether the next stage of project lifecycle should be started. Q7. Termination of the Project and Post Project Appraisal Project closure is the last stage in any project and it is when the completed project is handed to the customer (Gido and Clemens, 2009). Some of the important factors considered on this stage include termination of supplier contracts, project documentation, communication of project closure and the release of project resources (Carmichael, 2005). The entire project is reviewed with the aim of understanding project performance based on cost, time, quality and return on investment. In addition, documentation of major achievements, project failures, and lessons learned and recommendations are identified. Q8. Proposed Organisational Structure The following diagram illustrates the proposed organisational structure of carrying out of the project. From the project manager, two important positions, operations and administrative, are proposed that would ensure the project operates seamlessly based on expertise and operational requirements. The distribution of the entire project into operations and administrative is to differentiate the tasks of each section and also to champion professionalism. According to the organisational chart, the roles and responsibilities to be accomplished by an operations manager is completely different from the tasks that should be completed by an administrative manager (Gido and Clemens, 2009). Therefore, to ensure the project is completed effectively, it is important to ensure the above organisational structure is considered. Q9. Development of the Right Project Team/Motivational Strategies Utilisation of the appropriate project team is important in ensuring professionalism and also ensuring that the project is completed according to project scope and other requirements. The following summaries some of the credentials that should be possessed by individual(s) holding specific positions within the organisation structure: Administrative manager – The person should have experience in management of organisations and also be a team player who is able to bring together the employees and ensure their roles and responsibilities are accomplished effectively. Operations manager – the holder of this position should have enough experience in managing projects. The person should be professional and also understand regulations and standards followed in the construction industry. Mechanical/Electrical engineering – The holders of this position should have understanding of the different requirements of mechanical and electrical aspects of construction and also be able to lead a team of professionalism into ensuring the project is accomplished based on the requirements of the customer. Civil/Structural engineering - The holders of this position should have understanding of the different requirements of civil and structural aspects of construction and also be able to lead a team of professionalism into ensuring the project is accomplished based on the requirements of the customer. Risk management manager – The person should have extensive knowledge in understanding different types of risks and how these risks can be prevented from affecting the construction process (Gido and Clemens, 2009). The person should also understand the legal, standards and regulations that are required in the construction industry (Rad and Anantatmula, 2005). Moreover, the person should be able to work with a variety of employees and be able to prevent occurrence of conflicts. Finance and administrative manager – The holder should be able to manage financial resources of the project and also assist in managing the project and other stakeholders. The holder should be professional and should factor all legislations, standards and professional requirements in fulfilling their respective responsibilities. Human resource manager – Should understand the labour requirements and also be able to manage, motivate and develop the employees. The individual is responsible for all the employees and should understand mechanisms to ensure the project operates effectively. Procurement manager – The holder of this position should have experience in purchasing and providing resources for project operation. This means the holder should manage exhaustible resources and ensure resources are availed according. The human resource manager and the project manager should understand employees are important in fulfilling the requirements of the project (Gido and Clemens, 2009). A motivated employee is better placed in fulfilling their obligations. Some of the strategies to ensure the employees are motivated include appropriate salary/wage, benefits such as medical/leave, and creating an environment that champions effective communication and also team work. Moreover, a mechanism addressing conflicts within the workplace ensures that the employees are directed towards fulfilling different organisational requirements. Q10. Principles of Risk Management Risk management is identifying, assessing and prioritising of risks with the aim of coordinating and introducing economical application of resources with the aim of monitoring, minimising and controlling the probability of occurrence of unfortunate events (Gido and Clemens, 2009). Numerous possibilities are associated with occurrence of a risk, which includes project failures, legal liabilities, disasters and natural causes, accidents, credit risk and other issues associated with uncertainty of occurrence. Management of risk is important in ensuring that it does not affect the project. Management of risk comes in two forms which are either preventing occurrence or addressing a risk that has already occurred (Weide, Beilens and Dijk, 2004). In preventing strategy, employees should adhere to relevant construction standards and also should employ their professionalism in fulfilling the requirements of construction. In addition, insurance policies would be considered to ensure liabilities are transferred to a third party. Some potential hazards may occur in terms of falls or poor quality of the materials utilised. Others include human and operational error and natural causes such as weather. In addition, the completed project may not fulfil the requirements of the customer or the project may not fulfil the requirements of measures of a successful project. References Carmichael, D. 2005. Project Planning and Control. London: Taylor & Francis Gido, J., and Clemens, J. 2009. Successful Project Management, 4th Ed. London: Cengage Learning Harris, P. 2009. Project planning and control using Primavera Contractor version 6. London: Eastwood Harris Pty Ltd Melton, T. 2011. Real Project Planning: Developing a Project Delivery Strategy: Developing a Project Delivery Strategy. London: Butterworth-Heinemann Rad, P., and Anantatmula, V. 2005. Project Planning Techniques. London: Management Concepts Schwalbe, K. 2006. Introduction to Project Management. London: Cengage Learning Schwalbe, K. 2010. Information Technology Project Management, 6th Ed. London: Cengage Learning Weide, A., Beilens, A., and Dijk, S. 2004. Project Planning and Management. Purdue: Purdue University Press Read More