English National Stadium Project at Wembley - Case Study Example

Executive Summary English National Stadium is looking for a new stadium and Wembley and has executed a plan for the completion of the same. The project team has been able to identify the factors which will affect the manner in which the work is to be carried out and have done the feasibility teat to complete the project by 2006. The report presents the scope and objective. It also looks into the stakeholder analysis and the different tools used by English National Stadium to ensure completion of the project. Stress has also being laid on the financial aspect by identifying the sources and the areas it will be spent on. It also presents the implementation phase, the deviations, the tools and keys which has helped to ensure the completion of the project. Finally, the report presents the key success factors, the learning’s and recommendation which could have helped to complete the project in a better way and in the estimated time. English National Stadium thus has been able to complete the stadium and ensure that necessary changes are accounted for the completion. Contents 1. Introduction 4 1.1 Overview of the English National Stadium Project at Wembley 4 1.2 Purpose of the report 4 1.3 Objective of the report 4 1.4 Scope of the report 5 2. Stakeholder Analysis 5 3. Management of the project 5 3.1 Implementation phase 5 3.2 Key Strategies 6 3.3 Key Tools 6 3.4 Benefits of planning 7 3.5 Reason for deviation from the plan 7 3.6 Impact of deviations 8 3.7 Managing the deviations 8 4. Critical Analysis 8 4.1 Critical Success Factors for the project 8 4.2 Learning’s 9 4.3 Recommendations 9 4.4 Conclusion 9 5. References 10 6. Appendix 11 1. Introduction 1.1 Overview of the English National Stadium Project at Wembley The English National Stadium was to be constructed at Wembley and will cost around 757 million pounds. The stadium will be a major stadium and will host various football games though the stadium holding any international event of a high magnitude is uncertain. The cost for the construction will be from different sources like public finance, Sport England, Department of culture and others. The estimate time for completion is 2006 and would include a provision for athletes. (English National Stadium, 2004) 1.2 Purpose of the report To identify the project management by the agencies which highlights key strategies, tools, the benefits that accrue due to it and the way deviations are maintained To report a stakeholder analysis for the given project highlighting the project life cycle and the funding for the project Identifying the factors contributing towards its success and the learning’s based on it 1.3 Objective of the report The objective of the report is to see the manner in which the English National Stadium at Wembley was constructed. It also looks into the way initial phase of the project was dealt with. It concentrates on factors which led to the success of the projects and the way the finance was made also devoting on critical areas and the learning’s which will help to improve the performance in the future. 1.4 Scope of the report The scope of the report extends to looking into areas which are critical for a success of a project and the manner a project is carried out looking into the feasibility aspect of the same. 2. Stakeholder Analysis Stakeholder analysis forms a vital part as it helps to identify “the manner in which the technique used by English National Stadium helps to win over its stakeholders”. (Overseas Development Administration, 1995) This will thereby help in a stockholder analysis which will guide the management in their project execution. The stakeholders for English National Stadium are the athletes, public, Sport England, Department of culture, government, interest group, communities and everyone else associated with the stadium which includes the employees. The chart for the stakeholder analysis is presented in Appendix. It shows the manner English National Stadium lays stress on different stakeholders and the efforts they need to pay to the different stakeholders to achieve the best results. The analysis thus provides the manner in which English National Stadium is going to implement its project by laying stress on areas which are of prime importance 3. Management of the project 3.1 Implementation phase The implementation phase of English National Stadium started after the project evaluation process which judged the feasibility of the project and the places from where the funds for the project will be collected and the direction in which it will be used. (PIP, 2002) English National Stadium after judging the feasibility for the stadium looks forward to raise money for the stadium through various sources. This is a major concern and will guide the manner in which the project goes. English National Stadium plans to raise money 757 million pounds by raising 161 million pounds from the public, 120 million from Sports England, and 20 million pounds from department of culture and 21 million pounds from London development agency. The money is raised on the estimation of cost which will see construction constitute about 445 million pounds, site purchase for 106 million pounds and other areas like contingency reserves. English National Stadium thus prepares to ensure that the project is carried in different phases which will help to gauge the performance and monitor the manner in which the construction is being conducted. (Davidson, 2008) 3.2 Key Strategies The key strategy highlighted by English National Stadium is to monitor the expenses and ensure that the task is done within the constituted frame time. The key strategies are Design a framework which has been set as 2006 for the completion of the project and this has been that the project is divided into small parts Developing seats which allow for maximum seating area at the same time provide the provision for employees Ensuring that the funding for the projects is from various sources which allows English National Stadium to ensure that the powers of decision are not vested in an individual hand 3.3 Key Tools The key tools for English National Stadium have been to measuring it against benchmark. English National Stadium has ensured that they look into the risk which can have an effect on the progress of the stadium. English National Stadium has used tools like Gantt chart, PERT and other to ensure that the project confronts to the requirements of the time frames. This has ensured that English National Stadium is able to eliminate the unnecessary steps in the project completion and the tools followed by the stadium have ensured that the implementation of the project goes as per plan. 3.4 Benefits of planning The benefits of planning for English National Stadium are Ensured that the budget estimates don’t change thereby enabling proper planning Ensured that the project completes on time Ensured that funds are raised through the correct channel which has helped to manage the project 3.5 Reason for deviation from the plan The project plans for English National Stadium has deviated as planned by the management are due to the following reason The board has not treated all bidders for the project as equal which has resulted in the funding of the project going haywire The project viability differs from the actual construction of seats which is due to change in the facility planned by the management Confusion between the stakeholders regarding the sharing of revenues and the powers vested with them also is affecting the manner in which the plan was executed The closure of the old stadium has raised doubts regarding the finance that will be raised through the assets is making the project deviate The doubts raised by the management to conduct a international event is also deviating the project 3.6 Impact of deviations The reasons for the deviation are English National Stadium has doubt regarding the athletes provision and the benefit it will provide to the stadium The cost estimate for the project is going out of control and is leading towards changing the pattern in which the project is to be conducted The estimate time for the project completion looks doubtful as the deviation are taking time to be rectified 3.7 Managing the deviations English National Stadium to manage the deviations have taken steps which will help to ensure that the project is completed English National Stadium have reduced the number of seats so that the stadium can be built on the allocated area and the arrangement for customers derive maximum satisfaction The increase cost is being managed by financing through the Football Association which ensures completion of the project 4. Critical Analysis The critical analysis will help to provide the learning and factors which has contributed towards the successful completion of the English National Stadium. 4.1 Critical Success Factors for the project The critical success factor for the project is Follow up which English National Stadium uses has ensured that the changes in the project are accounted for and needy changes brought in the development of the project. (Khan, 2010) The ability to gauge the expenditure for the project planning and then bring the necessary changes has being able to mould the project and complete it 4.2 Learning’s The project management of English National Stadium highlights various learning’s from the completion of the project The importance of planning and checking the feasibility of the project before starting one Having a contingency plan and making the necessary changes to combat the changes that is required Having a follow up plan and using various tools like PERT, Gantt chart and others to ensure successful completion of the project 4.3 Recommendations The following recommendation will help English National Stadium complete the project Improving the corporate governance by ensuring that all bidders have fair opportunity for the project Looking ways to bid for international events which will help to get the funding required Improve benchmarking and ensure the effectiveness by using more tools 4.4 Conclusion English National Stadium has used different tools and brought changes in the way the project will be carried out to ensure completion of the project. The management has used different tools and the key success factors identified by them has ensured that the stadium is completed by making the needy changes. 5. References Davidson N, “Tips for project implementation”, Project Smart, UK, 2008 English National Stadium, “The English National Stadium at Wembley”, House of Common Committee of Public Accounts, Eight Sessions, London, 2004 Khan Z, “Project Management Critical Success Factor”, The New York Times Company, 2010 PIP, “Project Implementation Process”, Vanderbilt University Medical Centre, 2002 Overseas Development Administration, “Guidance note to how to do stockholder analysis of projects and programmes”, Social Development Department, 1995 Thompson R, “Stakeholder analysis”, mindtools.com, 2010 6. Appendix Figure 1: Shareholder Prioritization Source: Thompson, 2010 The above chart for English National Stadium looks as follows Read More