Development of Residential House - Business Plan Example

Project development Management Development of residential House Introduction A development management project is a predominant report that conveys a beginning and an end activity that goes in hand with the prevailing budget availed. When developing a project an aspect of cost and quality should be considered highly hence enabling an event or activity be completed on time and effectively. However, this project is going to analyze the prevailing activities involves in the development of my friend residential house, in regards to his tight budget that he believes will be able to complete the project effectively and of high quality. A project however, should be clearly defined with consistent plans which curb an aspect of failure in the deployment of the project and its span (Ghantt, 45-51). This report however, is going to analyze the scope of this project, its objectives, constraints, what the management talks about stakeholder, risk prevailed, resources needed, monitoring activities and schedule as well as the quality of the house that will be in a construction process. This will be covered from the time project starts to its end in regards to my friends given tight budget. However, we know that the project will encounter limitations that come around as hindrances due to timeframe and availability of materials that will make this project successful. Also change in the pricing may affect the effective completion of the residential house since this may affect the total budget of the project in regards to additive that prevail a limitation aspect. Project scope The scope of this project will therefore include an aspect of skills behind architectural activities on planning and development of the house, the knowledge of the stakeholders behind the project and the expectations as well as the needs that my friends expect for me to meet to adhere with his budget (Schmitz, 22-29). Objective of the project The objective of this project is to ensure that the development of this residential house is completed within a given timeframe. The work therefore is supposed to be completed on time and according to the budget availed by my friend. Project Constraints This is the general execution materials as well as resources that are needed for this project to be completed successfully. The project however looks forward to deal with budget constraint that at times leads to exceed in the estimated budget, delivery constraint that usually depends on the internal and external operation due to timeframe availed. However, Transportation also is one of the constraints that engage an aspect of materials being delivered late as well as this may be affected by weather conditions evident on the time of work progression. Management stakeholder on the project The development of this residential work is working under a tight budget of 200,000 US dollars. This is an incline observation that is considered on the purpose of material purchase, payments of workers, and payment of the structure planning as well as the payment of other amenities like foods among others. Milestone of the project This is the entire stages that this project should meet for its completion. However, duration is the best resolution as far as the milestone aspect is concerned. The date that the project is supposed to start, the completion date and the deployment date however, are the distinct backbone of this milestone project. This work therefore should be done in a lifespan of one month hence; the project starting from the tenth of August up to tenth of September the year 2014. The deployment date which is meant for orientation of the completed work to my friend should be done on eleventh of April year 2013, after the completion of the development of this residential house as part of the project planning. The resources of the project Resources are the main materials that are needed to complete the entire project up to its cause. This development of residential house will therefore need ballasts, sand, nails, iron sheets, iron bars, workers and other amenities. This are the resources availed to complete this project at high quality standards. The Budget of the project The project is however, under tight budget of 200,000 US dollars. The budget will be availed as follows in the table below. Total budget availed = $ 200,000.00 Item Cost ($) Ballast 60,000.00 Sand 45,000.00 Nails 2,500.00 Iron Sheets 45,000.00 Iron Bar 17,500.00 Workers 10,000.00 Other amenities 5,000.00 TOTAL 185,000.00 According to the above contingency planning, we realize that a debit sum of money remains. This is however, to cover any risks availed in the process of the residual construction and this contingency of 15,000 US dollars will be there to cover the available risk, should the materials increase in pricing or any other additive that may come across without the knowledge of the exact budget. Project Risk Management This is unforeseen event in the prevailing project that affects the entire work of a given project for this case the development of my friend residential house, hence; posing negative as well as positive influence towards the completion facet (Sully, 13-18). This project however, will try to trace all the unseen risks that prevail in the assessment period which will be done at deployment level. The project risk management will ensure that these risk are dealt with and any prevailing issue has been avoided to create a room efficiency in the work done Risk evaluation to stakeholder’s analysis This evaluation will be ascertained in regards to risk events, the profitability and the general impact it has over the whole period of the development of this residential house. Event Impact Profit Margin Availability of expertise like architectural personnel for Planning Medium Low The suppliers of the materials such as sand, Ballast High Medium The availability of the workers High Low Prevailing weather condition that affects the availability of workers and also the acquisition of desirable materials Medium High From the above evaluation we found that if the workers fail to come at work then the timeframe that will take for the work to be completed will need an adjustment, one of the prevailing risks in this project. We learn that the priority of materials not being delivered on time will affect the whole process hence; nothing will be availed in the line of work. Stakeholder Analysis From the general review of stakeholder, it initiates an aspect any individual group that has interest over the success towards the prevailing project. The product and services being delivered should therefore be propelled by the viability and effective result from the group that is behind the proclaimed project. The stakeholders in this project therefore include; The architectural reform that is in need for project planning, the workers to maintain the general casual work, the sponsor who is my friend for the purpose of initiating capital and the suppliers who are the main contributors in the supply of materials for the development. The quality prevailed and the monitoring activities This work has to be done in the stipulated time to provide room for deployment and ascertain if there is anything to be corrected before giving my friend an opportunity to look over the completed individual residential house. However, it is advisable and convincible to install proper monitoring essence which eliminates any aspect of poor quality in the project. Poor quality may come as a result of the use of low standards materials provided, lack of the workers engagement and concentration as well as lack of acquisition standards laid down by the architectural planning department in the development of this residential house. If all this prevailing policies and activities are of more concerned during the development of this project, then this project will be of high quality one of the aspects that this project entails to conquer in the all processes involved. Communication plan Communication plans involves effective coordination and this should be availed each and every week to ensure that everything goes well. This however, will ensure that I have taken all the contact phone number of the suppliers and the workers so that should any problem arise am able to communicate with them in time. Product Importance to sponsors This development project therefore has importance to the sponsor in that the project has to avail the following. The project has to portray momentous and be completed successful and it is upon me to find the cheaper supplier to cut down the cost of the entire work. Conclusion In conclusion, when developing a project an aspect of cost and quality should be considered highly hence enabling an event or activity is completed on time and effectively. However, this project is going to analyze the prevailing activities involves in the development of my friend residential house, in regards to his tight budget that he believes will be able to complete the project effectively and of high quality(Gerry, 32-49). A project however, should be clearly defined with consistent plans which curb an aspect of failure in the deployment of the project and its span. This report however, is going to analyze the scope of this project, its objectives, constraints, what the management talks about stakeholder, risk prevailed, resources needed, monitoring activities and schedule as well as the quality of the house that will be in a construction process. This will be covered from the time project starts to its end in regards to my friends given tight budget. The scope of this project will therefore include an aspect of skills behind architectural activities on planning and development of the house, the knowledge of the stakeholders behind the project and the expectations as well as the needs that my friends expect for me to meet to adhere with his budget (Friedman, 84-92). However, we know that the project will encounter limitations that come around as hindrances due to timeframe and availability of materials that will make this project successful. Also change in the pricing may affect the effective completion of the residential house since this may affect the total budget of the project in regards to additive that prevail a limitation aspect. Moreover, this project was in line of ensuring that the development of this residential house is completed within a given timeframe. The work therefore is supposed to be completed on time and according to the budget availed by my friend. This however, shows that this activity is affected in many ways. This is through; different Constraints, risks ascertained and evaluation analysis that works hand in hand with the tight budget provided. References Alexander, Carol. Risk Management and Analysis, Measuring and Modelling Financial Risk (Wiley Series in Financial Engineering) (Volume 1) [Hardcover]. United Kingdom: Wiley. 1999. Friedman, Avi. Sustainable Residential Development: Planning and Design for Green Neighborhoods [Paperback]. United Kingdom: McGraw-Hill Professional. 2007. Ghantt, Thomas. Project Risk Management: Using Failure Mode Effect Analysis for Project Management [Kindle Edition]. USA: Plumbline Publishing Group.2012. Gerry, Johnson. Exploring strategy text and cases (9th edition). United Kingdom: Prentice hall. 2011 Kerzner, Harold. Project management a system approach to planning scheduling and controlling, (10th edition). USA: Pelican publisher. 2009. Kerzner, Harold. Project Management: A Systems Approach to Planning, Scheduling, and Controlling [Hardcover]. United Kingdom: Wiley. 2013. Layton, Mark. Agile Project Management For Dummies [Paperback]. USA: Prentice hall. 2010. Munoz, Nicole. 7 Figure Marketing Blueprint - Module 9: Strategy Development. New Jersey: Nicole Munoz publisher. 2012. Pinto, Karin. Project Management: Achieving Competitive Advantage. 2nd Ed. New Jersey: Pearson Education Ltd. 2010. Sully, Susan. Coming Home: The Southern Vernacular House [Hardcover]. New York: Rizzoli. 2012. Schmitz, Adrienne. Multifamily Housing Development Handbook (Development Handbook series) [Hardcover]. USA: Urban Land Institute. 2000. Schwaber, Ken. Agile Project Management with Scrum (Microsoft Professional) [Paperback]. United Kingdom: Microsoft Press.2004. APPENDIX WORK BREAKDOWN STRUCTURE DEVELOPMENT OF RESIDENTIAL HOUSE Gantt chart Read More