7204THS : Managing Strategic Risk And Project

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

7204THS : Managing Strategic Risk And Project

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

7204THS : Managing Strategic Risk And Project

1 Download29 Pages / 7,031 Words

Course Code: 7204THS
University: Griffith University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Question:
Scenario: The client has really enjoyed working with you, and believes you have a good understanding of the organisation. They would like to retain your consultancy for a significant new project they have. They want to get a team involved in the briefing and setting up a project management plan.Students please note – one of the first decisions for the group is to decide which firm and ‘project’ they should focus on. The first group meeting should be spent exploring the different organisations used for Assignments 1 and 2, and determining as a group which one should be chosen for this assessment.Part 1: Create a Project Charter This should clearly define the scope, objectives and main stakeholders of the project.Part 2: Create a Project Plan This will include the specific nature and issues of a given project. Aspects such as the Work Breakdown Structure and Activity Sequence, including a Project Cost Budget, will be included. Marking emphasis will be on critical evaluation and demonstration of an understanding of the principles in project management with cited references. Students are advised to refer to marking sheet for details.
Answer:

Part 1: Project charter 
Introduction 
Project management is the broad term that uses for managing the activities related to a project by focusing on the initiating, planning, executing, monitoring and control and closing. The project manager is responsible for managing project activities by dividing the tasks as per the project plan. For a successful project completion, it is essential to identify and manage the risks that can impact the outcome. Strategic risk management is the process of identifying, quantifying and mitigating the risk for the particular project by considering the objectives. The current report will provide information about the redevelopment of ANZ Stadium in Sydney. The stadium is having significant contribution in organizing the sporting events in the country. The top authority of stadium is looking to increase the capacity and improvement in the facility areas. The report will provide information about scope, objectives, and stakeholders that will take active participation in the project management. Moreover, the report will discuss risks and scheduling of the tasks to complete the project in the estimated cost and time.
Scope
The redevelopment project for ANZ Stadium is going to be undertaken for increasing the capacity of the stadium and facility for the visitors. The redevelopment of the stadium will help the leading authorities to increase the seating capacity by 40000 to 45000. Moreover, the authority is looking for improving the experience of fans. The cost of this project would be high and create the dispute between the state and national government for allocation and arrangement of funds. The project manager will be responsible for planning the activities and offering the guidelines for team members to meet the objectives. The scope of the project involves the effective utilization of the existing infrastructure of the stadium and develops a sustainable plan for redevelopment. The focus of the project manager will be on budget, risk and proposed outcome of the project. Apart from that, the project manager will analyze and implement the standards of construction for the ethical and legal approach in the planning and execution of the project.
Objectives
Following are the key objectives of the project of redevelopment of ANZ Stadium:

To improve the seating capacity of stadium
To encourage the facility areas for fans
To provide better security and packing services for fans
To improve the ground facilities for sporting event

The project manager will consider the following objectives for developing the plan for the redevelopment of the stadium. The proper consideration of objectives will be helpful for determining the budget and standards that need to be focused on maintaining the sustainability of the project. The expected time for achieving objectives is the end of 2019. The project manager will make the breakdown of activities according to the time frame and arrange the resources.
Resources
                                                                                    Table 1: Resource

Resources

Requirements

Human resource

· Project manager
· Administrator team
· Supplier
· Workers
· Supervision
· Architect  

Financial resources  

Provided by the management authority and government

Technical resources

· CCTV
· Security tools
· Fire alarm
· AC
· Communication network

Other

· Machinery
· Ladders
· Health and safety equipments
· Transportation vehicles  

 

Stakeholder
Following are the internal and external stakeholders for the project of redevelopment of ANZ Stadium:
Internal stakeholders:
Authority:  The stadium is managed by ANZ authority for organizing the sporting events and other functions. For the redevelopment of the stadium, the managing authority will provide information about the requirement and allocation of funds for maintaining the construction work. The main objective of this stakeholder is to meet the future needs of the stadium through the redevelopment project.
Employees: The employee of ANZ stadium will coordinate with the project management team for managing the activities related to documentation, fund planning, the offering of assessing of particular location and map of the past construction for implementing the changes. The employees of the stadium will also monitor the work of the project team as per the standards. The aim of employees of ANZ stadium is to keep the record of each activity related to construction.
External stakeholders:
Project manager: The project manager will be the key stakeholder of this project as he will manage all tasks from planning to the closing of the project. The project manager will communicate with ANZ authority and provide the information of the plan to team members. The role of the project manager is to develop the plan on the basis of requirement of redevelopment, allocate the budget, offering of role and responsibility to team members and evaluate their performance according to KPI’s.
Supplier: The supplier will play the critical role in managing construction project and complete it according to the proposed time. The project manager will make the agreement with suppliers for offering the construction material on time and with quality assurance. For this project, the supplier will provide their support for earning the profit by offering the material.
Supervisor: In order to manage the project, the stakeholder list involves the supervisor. The supervision of the big project will be responsible for monitoring and controlling the operations related to the construction plan and communicates the issues and performance of team members to the project manager for further decision making.      
Workers: The project will be implemented by the worker as per the guidelines of the supervisor and project manager. The worker will perform operations according to the project plan and follow the instruction of the project manager to increase the efficiency and effectiveness of the project. The objective of the worker through this project is to gain monetary benefits for the day working.
Government: The government bodies will influence project plan and operations. The role of government in this project would be monitoring of tasks according to rule and regulations of national standards of construction. Moreover, the government will provide the access of resources for construction to the authority of ANZ and project team.
Environmental bodies: The environmental bodies will contribute in the project by offering guidelines for proper waste management and follow of environmental laws for construction. The project manager will coordinate with the head of environmental bodies and make the appropriate changes in the project plan.   
Part 2 Project plan 
Project management approach 
In order to manage the project of construction, there are various types of approaches shave been used by the project manager to achieve the goals and objectives in a determined manner that include waterfall and agile. The current project is about the redevelopment of ANZ stadium to increase the seating capacity and facilities for the fans and players. The project manager can apply the waterfall model approach for managing the project activities and operations. The consideration of the waterfall model for managing project will help in the breakdown of project activities in small functions and proper management according to standards and regulations. The implementation of the waterfall model in project planning and implementation will increase the efficiency and effectiveness of the redevelopment project. Following are the key steps of the waterfall model that used for managing the project:
                                                         
Clarity in requirement and scope: To develop the effective project plan and proper consideration of operational actions to meet the specification and desired standards in the reconstruction of the ANZ stadium, the clarity in the requirements and scope is essential for every individual who is part of it. For example, to increase the clarity about the process and progress of the project, the project manager will conduct the meetings with stakeholders and provide the information about the scope and actions that going to be taken by the project team. Moreover, the manager will offer information for resources, utilization and standard requirements to avoid confusion. The information related to schedule and risks is essential for managing the project operations.
Analysis: For increasing the possibility of success in the project, it is important to conduct the analysis of all operations. The project is going to be completed by end of 2019 and analysis of technical, legal and financial aspects is helpful for maintaining the effectiveness. The analysis will support to develop the contingency plan and revise the time and budget of the redevelopment project. In order to analyze and manage the risks in the big construction project, the manager will conduct brainstorming sessions and collect the feedback from the team members. This kind of approach will support to identify and mitigate the potential issues in the project to increase the success.
Design and scheduling: To manage the project of the redevelopment of ANZ stadium, the designing, and scheduling of the tasks is essential for the arrangement of resources and offering the role and responsibilities to the team members. The project manager will schedule the activities as per the scope and consult the architect for design. The major activities of scheduling involve the initiation, planning, design, and implementation, monitoring, and closing. Additionally, the scheduling of the task will consider the milestone activities, subtasks and allocation of the resources as per the requirements. The proper consideration of design and schedule will improve the effectiveness of the operation and help to meet the deadlines of the activities.
Implementation: According to the waterfall model for managing the project, after planning and scheduling of the task, the project team will implement the activities. The team members will follow guidelines and instructions of the project manager to meet the specification of the tasks. In the stage of implementation, the consideration of project management principles and regulations that proposed by NSW authorities will play a critical role. Moreover, the project team will work according to the KPI’s to maintain their performance. The project manager will monitor the work and review the documentation provided by the supervisor to maintain the flow and specification of the redevelopment of ANZ stadium.
Support and maintenance: After the successful implementation of the plan, the support and maintenance are required to overcome the issues. The project manager will evaluate construction work according to standard proposed by the ANZ authority and government for managing the redevelopment. The timely review and support from the project team will also help in improve the outcome and meet the objectives of the redevelopment. For example, the project manager will collect feedback from the authorities and surrounding people for analyzing the issues and provide the input to overcome them.
Management plan
For redevelopment of ANZ stadium, the management plan will focus on the needs and requirements that proposed by the authority. The management plan for the project will involve work breakdown, scheduling, budgeting and consideration of deliverables. The proper utilization of resources and allocation will finalize in the management plan. The estimated time of the completion of the project is the end of 2019 and the budget is $ 2 billion. The project manager will develop and make changes in the plan by considering the following deliverables:

Improvement in seating capacity
High quality and technical assistance
Improvement in the facilities for fans
Development of parking and security areas
Maintenance and future scope of improvement

The project manager will focus on these deliverables for the redevelopment of ANZ stadium. For that, the manager will identify the potential supplier, machinery, security equipment and develop the contract by analyzing the optimum cost and quality. The training and development sessions will be arranged by the project manager before starting the construction work to provide the necessary information to workers and improve their understanding related to the requirements. Apart from that, management planning will involve the analysis of the cost of each activity and tools that required for completing the task with effectiveness. The tacking and communication of information will manage through the online sources like email and text messaging.
This kind of approach will support in the offering of data in real time to eliminate the delay in the project as well as the collection of documents for analysis. Moreover, the payment and inventory of raw material will be managed by the supervisor by considering the requirements of the construction team and the phase of the construction. In spite of that, the management plan will also focus on the health and safety training and implementation of equipment which is an important part of construction work. The project manager and head of the different team will provide the safety-related information and utilization of equipment in the case of emergency.
Work breakdown structure
                                                             

Work Breakdown Structure (WBS) is an essential element of project planning and implementation that helps to provide the breakdown of the large operations into small tasks that improve the monitoring and consideration of standards for each task. The project manager develops the work breakdown structure for developing the subtasks of the activities like initiation, planning, design, and implementation as well as budget, resource planning, monitoring and closing of the project. The WBS is designed and used according to prioritization of activities and needs of the ANZ authority for the redevelopment of the stadium. The WBS provides in-depth knowledge about the activities and functions that have a significant role in the construction work and achievement of goals and objectives of the project plan. The project manager and project team are responsible for developing and executing the plan for the redevelopment of stadium and arrangement of resources. The allocation of funds and consideration of machinery requirements also been done through WBS.                
Scheduling

Task Name

Duration

Start

Finish

Predecessors

Resource Names

Cost

Project

12.45 mons

Mon 15-10-18

Thu 26-09-19

 

 

$147,000.00

   Initiation

1.2 mons

Mon 15-10-18

Thu 15-11-18

 

Project manager

$17,120.00

      Identification of requirements

1 mon

Mon 15-10-18

Fri 09-11-18

 

Project manager ,Project team

$8,800.00

      Analysis of scope

0.05 mons

Mon 12-11-18

Mon 12-11-18

3

Project manager

$280.00

      Need of resources

0.05 mons

Tue 13-11-18

Tue 13-11-18

4

Project team

$160.00

      Stakeholder meeting

0.05 mons

Tue 13-11-18

Tue 13-11-18

3,4

Project manager

$280.00

      Objectives

0.05 mons

Wed 14-11-18

Wed 14-11-18

5

Project manager

$280.00

      Financial requirements

0.05 mons

Wed 14-11-18

Wed 14-11-18

6

Accounting ,Project team

$320.00

      Risk analysis

0.05 mons

Thu 15-11-18

Thu 15-11-18

4,8

Project manager

$280.00

   Planning

3.3 mons

Fri 16-11-18

Fri 15-02-19

9

Project manager

$34,680.00

      Analysis of existing design

0.05 mons

Fri 16-11-18

Fri 16-11-18

6,9

Project manager

$280.00

      Requirement of machinery

0.05 mons

Mon 19-11-18

Mon 19-11-18

11

Project team

$160.00

      Human resources

0.05 mons

Tue 20-11-18

Tue 20-11-18

12

Project manager

$280.00

      Suppliers

1 mon

Wed 21-11-18

Tue 18-12-18

13

Project manager

$5,600.00

      Health and safety

0.05 mons

Wed 19-12-18

Wed 19-12-18

14

Supervisor

$200.00

      Fund allocation

0.05 mons

Wed 19-12-18

Wed 19-12-18

12,13,14

Project manager

$280.00

      Standards

0.05 mons

Thu 20-12-18

Thu 20-12-18

15,16

Administrator team

$160.00

      Deliverables

0.05 mons

Fri 21-12-18

Fri 21-12-18

17

Administrator team ,Project manager

$440.00

      Risk management

1 mon

Mon 24-12-18

Fri 18-01-19

18

Project manager

$5,600.00

      Waste management

1 mon

Mon 21-01-19

Fri 15-02-19

17,19

Project team

$3,200.00

   Design

1.4 mons

Mon 18-02-19

Wed 27-03-19

20

Project manager

$15,320.00

      Design specification

1 mon

Mon 18-02-19

Fri 15-03-19

17,18

Project manager

$5,600.00

      Future requirements

0.05 mons

Mon 18-03-19

Mon 18-03-19

22

Project manager ,Project team

$440.00

      Environmental aspects

0.05 mons

Tue 19-03-19

Tue 19-03-19

23

Project team

$160.00

      Facilities

0.05 mons

Wed 20-03-19

Wed 20-03-19

24

Project manager

$280.00

      Accommodation and exit

0.05 mons

Thu 21-03-19

Thu 21-03-19

25

Project team

$160.00

      Parking

0.05 mons

Fri 22-03-19

Fri 22-03-19

26

Project team

$160.00

      Emergency exit

0.05 mons

Mon 25-03-19

Mon 25-03-19

27

Project team

$160.00

      Ventilation

0.05 mons

Tue 26-03-19

Tue 26-03-19

28

Project team ,Supervisor

$360.00

      Communication

0.05 mons

Wed 27-03-19

Wed 27-03-19

29

Administrator team

$160.00

   Budget

0.3 mons

Thu 28-03-19

Thu 04-04-19

30

Accounting ,Project manager

$3,880.00

      Banking institute

0.05 mons

Thu 28-03-19

Thu 28-03-19

22

Administrator team

$160.00

      Fund requirements

0.05 mons

Thu 28-03-19

Thu 28-03-19

23

Project manager

$280.00

      Allocation to team

0.05 mons

Fri 29-03-19

Fri 29-03-19

33

Administrator team

$160.00

      Documentation

0.05 mons

Mon 01-04-19

Mon 01-04-19

34

Administrator team

$160.00

      Salary

0.05 mons

Tue 02-04-19

Tue 02-04-19

35

Accounting

$160.00

      Medical facility

0.05 mons

Wed 03-04-19

Wed 03-04-19

36

Administrator team

$160.00

      Supplier payment

0.05 mons

Thu 04-04-19

Thu 04-04-19

37

Accounting

$160.00

   Resources

0.35 mons

Fri 05-04-19

Mon 15-04-19

38

Project manager

$3,440.00

      Human resource

0.05 mons

Fri 05-04-19

Fri 05-04-19

34

Project manager

$280.00

      Technical resources

0.05 mons

Mon 08-04-19

Mon 08-04-19

40

Project team

$160.00

      Machinery

0.05 mons

Tue 09-04-19

Tue 09-04-19

41

Project manager

$280.00

      Transportation

0.05 mons

Wed 10-04-19

Wed 10-04-19

42

Project team

$160.00

      Warehousing

0.05 mons

Thu 11-04-19

Thu 11-04-19

43

Project team

$160.00

      Tool and equipments

0.05 mons

Fri 12-04-19

Fri 12-04-19

44

Project team

$160.00

      Training

0.05 mons

Mon 15-04-19

Mon 15-04-19

45

Project manager

$280.00

   Implementation

3.35 mons

Tue 16-04-19

Wed 17-07-19

46

Project manager ,Project team

$40,800.00

      Operational function

3 mons

Tue 16-04-19

Mon 08-07-19

44,45

Project team

$9,600.00

      Scheduling

0.05 mons

Tue 09-07-19

Tue 09-07-19

48

Project manager

$280.00

      Resource allocation

0.05 mons

Wed 10-07-19

Wed 10-07-19

49

Administrator team ,Project manager

$440.00

      Guidelines

0.05 mons

Thu 11-07-19

Thu 11-07-19

50

Project manager

$280.00

      Design specification

0.05 mons

Fri 12-07-19

Fri 12-07-19

51

Project team

$160.00

      Environmental functions

0.05 mons

Mon 15-07-19

Mon 15-07-19

52

Supervisor

$200.00

      Consideration of KPI’s

0.05 mons

Tue 16-07-19

Tue 16-07-19

53

Supervisor

$200.00

      Communication

0.05 mons

Wed 17-07-19

Wed 17-07-19

54

Administrator team

$160.00

   Monitoring

1.3 mons

Thu 18-07-19

Thu 22-08-19

55

Supervisor

$12,280.00

      Monitoring of activities

0.05 mons

Thu 18-07-19

Thu 18-07-19

55

Project manager ,Supervisor

$480.00

      Analysis of feedback

1 mon

Fri 19-07-19

Thu 15-08-19

57

Project manager

$5,600.00

      Security

0.05 mons

Fri 16-08-19

Fri 16-08-19

58

Supervisor

$200.00

      Design specification

0.05 mons

Mon 19-08-19

Mon 19-08-19

59

Project manager

$280.00

      Collection of documents

0.05 mons

Tue 20-08-19

Tue 20-08-19

60

Administrator team

$160.00

      Risk management issues

0.05 mons

Wed 21-08-19

Wed 21-08-19

61

Project team

$160.00

      Supervision

0.05 mons

Thu 22-08-19

Thu 22-08-19

62

Supervisor

$200.00

   Closing

1.2 mons

Fri 23-08-19

Wed 25-09-19

63

Accounting ,Project manager ,Supervisor

$19,200.00

      Documentation

0.05 mons

Fri 23-08-19

Fri 23-08-19

63

Administrator team

$160.00

      Submission of resources

0.05 mons

Mon 26-08-19

Mon 26-08-19

65

Project team

$160.00

      Final budget

0.05 mons

Tue 27-08-19

Tue 27-08-19

66

Accounting

$160.00

      Salary

0.05 mons

Wed 28-08-19

Wed 28-08-19

67

Accounting

$160.00

      Support

1 mon

Thu 29-08-19

Wed 25-09-19

68

Project team

$3,200.00

   Final closing

0.05 mons

Thu 26-09-19

Thu 26-09-19

69

Project manager

$280.00

 

The proper consideration of scheduling of tasks will be beneficial for the project manager and project team to maintain the effectiveness in the operations. According to schedule, the project will be completed within 13 months and the approximate cost of the project will be $147,000.00 that is not including the salary of workers and technical tools that going to be used in the final construction work for maintenance and support. The major activities of the scheduled tasks involve initiation, planning, design, budget, implementation, and monitoring. The project team will manage these activities according to subtasks and additional functions that considered through breakdown structure.
The major resources that take active participation in the project include the project manager, project team, supervisor, accounting and administrator. These human resources are responsible for developing the plan and implementation of activities accordingly. As per the scheduling of activities, the project planning will focus on the implementation and designing phase of the redevelopment of ANZ stadium. In addition to this, the documentation and closing of the project also play the critical role in the project success. The record of data and performance of the team members will also essential for developing the final report and confirmation of objectives. The information will also require for future construction work for ANZ stadium.      
                                   
                                       
The Gantt chart is offering detail information about the relationship among the operational tasks of the reconstruction project of ANZ stadium. The project manager and team members will follow the task according to allocated time and resources to meet the objectives more professional manner. The tracking of activities will be done through the Gantt chart and helpful for managing the resources and supply of the raw material for construction. In addition to this, the analysis of action and future requirements can also be tracked through the Gantt chart.
Change management 
Change management and control play a critical role in the completion of the project. The project manager and ANZ authority are responsible for identifying and implementing the changes in the scope, requirements and operational scheduling. However, the implementation of changes after planning could affect the cost and time of completing the project. Following are the objectives of change management plan that considered for implementing the changes:

To improve quality and standards of operations
To improve the documentation and standards of construction
To compile operations with the regulations and principles of NSW

Following are the authorities that approve and implement the changes in project:

Change manager
Project manager
Project team
ANZ authority

Change management steps:

Define the change request
Analysis of changes in project plan
Decision making for implementation of changes or not
Integration of changes in the project plan and scheduling
Communication of changes with team members
Review the impact of changes
Analysis of effectiveness, cost and time after changes  

Risk management 
Risk management is an essential process that considers for identifying and mitigating the risk factors in the project. The construction project involves various types of risk that can influence the outcome and cost of the project. The proper consideration of risk and implementation of the strategy to overcome the risks will be beneficial for the maintaining the effectiveness of the project as well completion of activities as per the estimated plan. The risk management plan of the project will consider the following assumptions:

The stakeholders will attend all meetings
Risks will be managed at first priority and avoided
Changes in scope and plan will be communicated to all members

Implementation of risk plan and function will be communicated to project manager
                                                                              Table 2: Risk register
                                       
                                       
                                                                                 Table 3: Risk matrix                                                   

Unpredictable Risks

Predictable Risks

Non-Technical Risks

Technical Risks

Legal Risks

Natural Disasters

Budget Risks

Accidents on the event

Are the Pre-project Activities viable?

Risk for fulfilling the contract

Man-Made Disaster

Workers Availability

Workers Misconduct

All tools working well?

Brach of environmental policies

 

Deliverables are on track?

Cost Fluctuation

Availability of required technicians

 

 

Environmental Impacts

Absenteeism of management staff

Delay in supply

 

 

 

Loss of potential

Risk specific to technology

 

 

In order to overcome the risk in the redevelopment project of the ANZ stadium, the project manager will use the acceptance and mitigation strategies. According to these strategies, the project manager will identify and accept the risk like fund management, lack of human resources and supply of the raw material. The manager will maintain the inventory of the essential raw material that will help to overcome the delay in the project. Apart from that, the mitigation strategy of risk will involve health and safety issues, training and management of human resources natural disaster and technical issues related to the utilization of machinery. The risk management strategies will require the proper control and monitoring of the operations to maintain the effectiveness and identification of root causes that might affect the success of the redevelopment project. The consideration of these strategies will improve the decision making and design flow of construction to meet the objectives and deliverables.   
Communication plan 
An effective communication plays an important role in the success of any project activity. It is very important for the project authorities to establish efficient communication plan in order to ensure the effective and correct flow of information among the team members. The project team of the redevelopment of ANZ Sydney stadium would communicate by using various means like emails, meetings, discussions, to-do-lists and written documents. The required important information would be conveyed from the upper levels to the lower levels members or stakeholders involved in the project. It is essential to ensure that the right and accurate information is been conveyed to the individual engaged with the project activities. The communication plan for the current project of the redevelopment of ANZ Stadium in Sydney is described below:
                                                                        Table 4: Communication plan

Stakeholder

Communication Method

Frequency

Responsibility

Notes

Key stakeholders

Formal meeting

At the initiation of the project

Project management

The team and key stakeholders refer initialing meetings.

Project manager  

Formal discussions and meetings

Daily and weekly

Project management

Manage team, discuss about project and convey set goals.

Project sponsors

Status of the project through emails

Monthly

Project manager

Review status, discussion of the progression and values earned out of the same.

Project Team Members

Informal and formal meetings, discussions, instant messaging, emails, reports

Daily

Project manager

Discussion related to the project, issues, and risks out of the project

Financial managers

Formal meeting and  emails

Monthly

Project manager and supervisor

Information related to the financial resources and the required funds

Supervisors

Formal and informal meetings

Daily

Project manager and team members

Information related to project progress, issues and objectives

Other higher authorities

Direct communication through meetings

Monthly or when needed

Project manager, sponsors and supervisor

Any change requirements and important factors must be disclosed

 
The above table includes the description of the stakeholders and the communication method to convey the information among them. It would contribute to ensuring an effective flow of communication of important information regarding the project and be in touch with the key stakeholders of the project of the redevelopment of ANZ Sydney stadium.

Quality management 
With the intention to ensure quality management in the project, the manager would make use of the PDCA model of Total quality management. The PDCA model is basically the abbreviation of the plan, does, check and act.  The manager would implement the model within the framework of the project so that to meet the quality standards in the redevelopment of ANZ stadium. Below is the description of the implementation of TQM in the project:
Plan: The manager here would identify the issue which requires to be addressed and acquire relevant information related to the stadium. It would also identify the root cause behind the redevelopment; asses best possible intervention, schedule corrective process by making the plan and map the process through flowcharts.
Do: The do phase of the model would include the development of the project plan and execute corrective actions for the ANZ Stadium in Sydney. The manager would ensure to follow the plan effectively and prepare specific instructions for the team members for complicated tasks in the project.
Check: The manager would then check and inspect the quality by comparing the before and after data related to the project of redeveloping stadium. It would even help in reviewing the outputs of the process followed in terms of success and failures out of the project.
Act:  The final phase of the model for total quality management would enable the manager to document the results and inform the stakeholders about the process changes if required.  The manager would also utilize the quality control tool such as check sheet in this process. The tool would help in documenting the real-time progression by collecting and evaluating the data available out of the project progression activities specifically.  
Thus, the project manager of the redevelopment of stadium in Sydney project would be highly beneficial out of the quality management model in meeting the set quality standards out of the same.
Procurement management 
Procurement management refers to supply and management of raw material that required for managing the operation of the redevelopment of the ANZ stadium. The analysis of requirements of raw material will be done by the manager for different construction aspects and effective utilization of them. The project team will use logistic control model for procurement management. According to this model, the manager will analyze the cost and quality of the different suppliers and develop the contract with them by applying the bidding concept. The kind of approach will help the manager and project team to maintain the record of the raw material and flow as per the requirements. The quality and cost will be a major concern for the project manager in developing the contract with the supplier for procurement. In addition to this, the manager will follow Green guidelines for managing procurement which is essential for environmental safety and waste management. However, there are some factors like lack of communication, delay in payment and lack of monitoring of inventory of goods and services could affect the procurement management process of the project. To overcome the impact of the issues the, the project manager will conduct the analysis of needs and make the prior orders for the material related to construction and machinery. This will help to maintain the flow of operations and reduce time and cost of the construction.
Conclusion: 
From the above study, it can be considered that project management is a broad approach which helps to maintain the operations and activities in a planned manner. The report has provided detail information about the redevelopment of ANZ stadium Sydney and proposed the plan for construction. The major stakeholders of the project are the project manager, team, supplier, government bodies and environmental regulatory. The report has also provided information related to scheduling, work breakdown structure, risk management, and communication plan. These are important elements of the project plan that plays a critical role in the success of the redevelopment of ANZ stadium. The effective utilization of resources and planning of the team members also discussed in the project that will help in the implementation of the project. Moreover, the report has explained the quality management and change management approaches that used for managing the project according to deliverables and standards that proposed by the ANZ authority for redevelopment.                         
Bibliography:
Alshamrani, Adel, and Abdullah Bahattab. “A comparison between three SDLC models waterfall model, spiral model, and Incremental/Iterative model.” International Journal of Computer Science Issues (IJCSI) 12, no. 1 (2015): 106.
Ashtiani, Babak Nakhayi, Qian Jiang, Mario Tayah, Brian L. Welcker, Thomas G. Patton, Sachin Shrikrishna Panvalkar, and Wing Kin Thomas Chan. “Controlling resource allocation with automated consumption against a work breakdown structure.” U.S. Patent 9,720,737, issued August 1, 2017. < https://patents.google.com/patent/US9720737B2/en>
Aubry, Monique. “Project management office transformations: Direct and moderating effects that enhance performance and maturity.” Project Management Journal 46, no. 5 (2015): 19-45. < https://onlinelibrary.wiley.com/doi/abs/10.1002/pmj.21522>
Be?ikci, Umut, Ümit Bilge, and Gündüz Ulusoy. “Multi-mode resource constrained multi-project scheduling and resource portfolio problem.” European Journal of Operational Research240, no. 1 (2015): 22-31.
Burger, Michelle, and Benita Zulch. “A construction project management knowledge model: The type and level of knowledge required.” Acta Structilia 25, no. 1 (2018): 98-125. < https://journals.ufs.ac.za/index.php/as/article/view/3441 >
Burtonshaw-Gunn, Simon A. Risk and financial management in construction. Routledge, 2017.
Cameron, Esther, and Mike Green. Making sense of change management: A complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers, 2015.
Ceptureanu, Eduard-Gabriel, Sebastian-Ion Ceptureanu, Cristian-Eugen Luchian, and Iuliana Luchian. “Quality Management in Project Management Consulting. A Case Study in an International Consulting Company.” Amfiteatru Economic 19, no. 44 (2017): 215.
Chiocchio, François, and Brian Hobbs. “The difficult but necessary task of developing a specific project team research agenda.” Project Management Journal 45, no. 6 (2014): 7-16. < https://journals.sagepub.com/doi/abs/10.1002/pmj.21463>
Cummings, Stephen, Todd Bridgman, and Kenneth G. Brown. “Unfreezing change as three steps: Rethinking Kurt Lewin’s legacy for change management.” human relations 69, no. 1 (2016): 33-60.
Eriksson, Per Erik, Roine Leiringer, and Henrik Szentes. “The role of co-creation in enhancing explorative and exploitative learning in project-based settings.” Project Management Journal 48, no. 4 (2017): 22-38. < https://journals.sagepub.com/doi/abs/10.1177/875697281704800403>
Eskerod, Pernille, Martina Huemann, and Claudia Ringhofer. “Stakeholder inclusiveness: Enriching project management with general stakeholder theory.” Project Management Journal 46, no. 6 (2015): 42-53. < https://onlinelibrary.wiley.com/doi/pdf/10.1002/pmj.21546>
Esmaeili, Maryam, and Somayeh Najafi Ghobadi. “A game theory model for pricing and supplier selection in a closed-loop supply chain.” International Journal of Procurement Management 11, no. 4 (2018): 472-494.
Ferri, Laura Maria, Nelly Oelze, André Habisch, and Mario Molteni. “Implementation of responsible procurement management: an institutional perspective.” Business Strategy and the Environment 25, no. 4 (2016): 261-276.
Flyvbjerg, Bent. “What you should know about megaprojects and why: An overview.” Project management journal 45, no. 2 (2014): 6-19. < https://onlinelibrary.wiley.com/doi/abs/10.1002/pmj.21409>
Goetsch, David L., and Stanley B. Davis. Quality management for organizational excellence. Upper Saddle River, NJ: pearson, 2014. < https://www.m5zn.com/newuploads/2015/03/06/pdf/5de5a3408f57150.pdf>
Harris, Elaine. Strategic project risk appraisal and management. Routledge, 2017.
Hayes, John. The theory and practice of change management. 2018
Hopkinson, Martin. The project risk maturity model: Measuring and improving risk management capability. Routledge, 2017.
Kassab, Mohamad, Colin Neill, and Phillip Laplante. “State of practice in requirements engineering: contemporary data.” Innovations in Systems and Software Engineering 10, no. 4 (2014): 235-241.
Kerzner, Harold, and Harold R. Kerzner. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons, 2017.
Khalili-Damghani, Kaveh, and Madjid Tavana. “A comprehensive framework for sustainable project portfolio selection based on structural equation modeling.” Project Management Journal 45, no. 2 (2014): 83-97. < https://journals.sagepub.com/doi/abs/10.1002/pmj.21404>
Kuipers, Ben S., Malcolm Higgs, Walter Kickert, Lars Tummers, Jolien Grandia, and Joris Van der Voet. “The management of change in public organizations: A literature review.” Public administration 92, no. 1 (2014): 1-20.
Lock, Dennis. The essentials of project management. Routledge, 2017. < https://www.taylorfrancis.com/books/9781351890571 >
Madgunda, Sneha, Upasna Suman, G. Sai Praneeth, and Raunak Kasera. “Steps in requirement stage of waterfall model.” International journal of computer & mathematical sciences (2015): 86-87.
Marcelino-Sádaba, Sara, Amaya Pérez-Ezcurdia, Angel M. Echeverría Lazcano, and Pedro Villanueva. “Project risk management methodology for small firms.” International journal of project management 32, no. 2 (2014): 327-340.
Moran, Alan. “Project Risk Management.” In Agile Risk Management, pp. 17-32. Springer, Cham, 2014.
Mubarak, Saleh A. Construction project scheduling and control. John Wiley & Sons, 2015.
Ojiako, Udechukwu, Max Chipulu, Alasdair Marshall, Melanie J. Ashleigh, and Terry Williams. “Project management learning: A comparative study between engineering students’ experiences in South Africa and the United Kingdom.” Project Management Journal 46, no. 4 (2015): 47-62. < https://onlinelibrary.wiley.com/doi/abs/10.1002/pmj.21510>
Robinson, Brendan, Michael Ryan, and Alireza Abbasi. “Analytical observations of work breakdown structure parameters.” In Systems Evaluation Test and Evaluation Conference 2018: Unlocking the Future Through Systems Engineering: SETE 2018, p. 427. Engineers Australia, 2018.
Schwindt, Christoph, and Jürgen Zimmermann. “Handbook on Project Management and Scheduling Vol. 1.” Cham: Springer International Publishing (2015).
Siami-Irdemoosa, Elnaz, Saeid R. Dindarloo, and Mostafa Sharifzadeh. “Work breakdown structure (WBS) development for underground construction.” Automation in Construction 58 (2015): 85-94. < https://www.sciencedirect.com/science/article/pii/S0926580515001594>
Sljivar, I., and A. Gunasekaran. “Agile-Scrum for Facility Design Project Management.” In SPE Western Regional Meeting. Society of Petroleum Engineers, 2018. < https://www.onepetro.org/conference-paper/SPE-190080-MS >
Smit, Marius C., Taryn J. Bond-Barnard, Herman Steyn, and Inger Fabris-Rotelli. “Email communication in project management: A bane or a blessing?.” South African Journal of Information Management 19, no. 1 (2017): 1-10. < https://journals.co.za/content/journal/10520/EJC-a8719aef3 >
Stroever, Stephanie, Kasi Hayes, Jerri Lynn Hice, Grace Baldauf, Cathy Woodard, and Roger Martin. “Construction and Implementation of an Operating Room Management Plan for the Prevention of Perioperative Hypothermia.” American Journal of Infection Control 43, no. 6 (2015): S12-S13.
Tritschler, Martin, Anulark Naber, and Rainer Kolisch. “A Genetic Algorithm for the Resource-Constrained Project Scheduling Problem with Flexible Resource Profiles.” (2014): 230-233.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.

E-mail

Yes, alert me for offers and important updates

Submit 

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 29 pages

PAY 17 USD TO DOWNLOAD

*The content must not be available online or in our existing Database to qualify as
unique.

Cite This Work
To export a reference to this article please select a referencing stye below:

APA
MLA
Harvard
OSCOLA
Vancouver

My Assignment Help. (2020). Managing Strategic Risk And Project. Retrieved from https://myassignmenthelp.com/free-samples/7204ths-managing-strategic-risk-and-project/responsible-for-managing-project.html.

“Managing Strategic Risk And Project.” My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/7204ths-managing-strategic-risk-and-project/responsible-for-managing-project.html.

My Assignment Help (2020) Managing Strategic Risk And Project [Online]. Available from: https://myassignmenthelp.com/free-samples/7204ths-managing-strategic-risk-and-project/responsible-for-managing-project.html[Accessed 19 December 2021].

My Assignment Help. ‘Managing Strategic Risk And Project’ (My Assignment Help, 2020) accessed 19 December 2021.

My Assignment Help. Managing Strategic Risk And Project [Internet]. My Assignment Help. 2020 [cited 19 December 2021]. Available from: https://myassignmenthelp.com/free-samples/7204ths-managing-strategic-risk-and-project/responsible-for-managing-project.html.

×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}

×

Thank you for your interest
The respective sample has been mail to your register email id

×

CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.

Account created successfully!
We have sent login details on your registered email.

User:

Password:

At MyAssignmenthelp.com, we understand that when students get stuck with tough assignments, they look for affordable services. To assist students with complex assignments, we have built a team of skilled cheap essay writers. MyAssignmenthelp.com has become one stop solution for all students who often look for answers related to their search similar to do my essay at the cheap rate or who can write my essay at affordable prices. Students prefer hiring us as we have the best provisions to render services related to do my essay online at a reasonable rate.

Latest Project Management Samples

div#loaddata .card img {max-width: 100%;
}

SBM 1201 Project Scope, Time And Cost Management
Download :
0 | Pages :
12

Course Code: SBM1201
University: Asia Pacific International College

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Introduction
This project plan deals with the development of a fuel-efficient HHO Generator. The HHO fuel cells may appear to provide high fuel efficiency to the users. Nevertheless, there are a few confinements and focuses to be seen, as given beneath. This is to clear up that there is NO 100% substitution of petroleum derivative by including HHO cell. HHO gas is otherwise called Brown Gas, yet this is to illuminate that HHO gas is n…
Read
More
Tags:
Australia Footscray Management organisational behviour University of New South Wales Masters in Business Administration 

HS2061 Information Systems Project Management
Download :
0 | Pages :
9

Course Code: HS2061
University: Holmes Institute

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Case Overview:
The project owner of the Signed, sealed, delivered courier service is facing the problems of managing order of couriers in the synchronised manner. The project manager is incapable of managing central warehouse for the dispatching of products. The important information can be lost with the passage of time. The inventory management of the warehouse is the major concern for the owner of the company. He is looking forward …
Read
More

OPS 935 Project Management
Download :
0 | Pages :
11

Course Code: OPS935
University: University Of Wollongong

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Introduction
This essay explores the impacts of digital technologies on project management. It explores how adoption of digital technologies by companies for managing their project have affected their, project managers, human resource, business processes, timelines, deliverables, and practices  of risk management, people management and quality management.
Impact of Digital technologies on Project Management Practices
Digital te…
Read
More
Tags:
Australia Saint Kilda Management International Management University of New South Wales Masters in Business Administration 

ITC505 ICT Project Management
Download :
0 | Pages :
10

Course Code: ITC505
University: Charles Sturt University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers
Case Study- Social Media Research Center
Task-1: Project Charter
Project Objectives
The main objective of the project is to develop a web-based system within the organization “Social Media research Center”. It is analyzed that the Social Media research center wants to develop the web based system in order to connect people with the organization for promoting its research center. The web-based system that is developed conta…
Read
More
Tags:
Australia Alfredton Management IT Network Security  University of New South Wales Masters in Business Administration 

ITC505 ICT Project Management
Download :
0 | Pages :
7

Course Code: ITC505
University: Charles Sturt University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers
Part One- Project Name / Team / Description
Project Name:
RALS Solution
Team Name:
Consultants for RALS
Project Description:
RALS organizes show for the farmers and other related small business persons to display their latest technology equipment for betterment in the field of agriculture and crop production. The show has different types of stalls and other facilities for which many volunteers …
Read
More

Next

Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog