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27489 Downloads 15 Pages 3766 Words
Project management refers the procedure related to working on a specific project for improving the performance of particular field. It enables corporation to integrate all related resources and complete the project related activities in an effectual manner. Present report is based on construction of Wembley stadium and its effective management related to utilizing the time and resources effectively. For this purpose, report covers the reasons behind failure of the public project management and understanding the varied issues or remedies available to improve the performance of the project in a cost effective manner. In addition to this, triple constraint triangle theory and importance of stakeholders etc are explained in context of the Wembley stadium project. Moreover, success and failure of the project has been explained along with application of suitable methodology to complete the same.
The project of Wembley stadium has been taken into account which is construction project. Here, the specific purpose of stadium consists of several functions such as rugby matches and football so as to organize the private evenest and other related concerts. Owing to this, issues related to time is faced along with higher cost. For this purpose, current project is being implemented in order to save time as well as cost so as to accomplish the purpose of the stadium effectively. However, the procedure of construction was delayed due to the bidding. For this purpose, lowest cost request was order for the contractors in order to ensure the optimum utilization of the limited resources (Alotaibi and Mafimisebi, 2016). On the other hand, implementation phase was delayed as the arch execution was challenging. For this purpose, appropriate project management work should be done under which bidding related issues can be resolved. For example, profession and qualified personnel can be invited for the bidding so they can focus on the services. Moreover, experienced engineers were needed so as to implement the more advanced design in the construction of Wembley stadium. Accordingly, project management related task has been completed through following the below mentioned steps or aspects.
There are several stakeholders associated with the project which are explained as follows-
However, some of the ways are applied for the completion of project should be effective under which business ensure to associate the qualified and highly skilled personnel. Similarly, the management team should be strong who can effectively cope up with the changes and address the issues which are being faced at the time of completion of the project.
Time management refers to the appropriate management of activities within the given time span. For this purpose, management must list all the activities to be covered under the project. The below mentioned table is showing detail information related to activities covered under the project. This proves to be effective for project management to assigning the right task to right people and ensure the accomplish the standards set for the project (Bresnen, 2016). The time line of each activity has also been presented through which it becomes easy for the researcher or corporation to meet the long as well as short term objectives of the project in a right manner. It would be effective to support all project managers or members associated in the team.
The management is considered as the most typical task in the project management. It assists employees to input their knowledge for improving service delivery procedure. These are explained as follows-
The team consists of workers, project management and financers in the project who actively take part in the process of project competition. However, the role of project manager, contractors and engineers is considered as the crucial who work upon the major activities and accordingly roles and responsibilities of all employees is decided in advance. This proves to be effective to integrate all related resources and reduce the cost of operation (Paquin, Gauthier and Morin, 2016). Project owner plays important role and in the current project manager will serve as the significant role.
The general director handle the work related to allocation of finance and other resources as per the activities of construction project related to Wembley Stadium. It assists members to get the right direction as per the activities defined in the project. However, team leader is responsible for the allocation of work in accordance with capabilities and skills of the personnel. This facilitates to shed light on time saving and cost saving aspect. It is because workforce get the work as per the requirement (Lakemond and et. al., 2016). However, the suppliers contracted must be coordinated properly so they will get to know about the requirement related to project.
For this purpose, management of the project complete the task regarding the appropriate communication procedure under which timely meeting is taken with the workforce and they are informed regarding he schedule of initiation of each activity. Not only this but they are promoted to reduce the time taken for the completion of the project. It aids to determine the allocation of resources effectively. It aids to cater requirement of all related stakeholders ans support project t get completed on time. It can be critically evaluated that conflict among team members occur due to less clarity in their work (Kivilä, Martinsuo and Vuorinen, 2017). This tends to affect their performance to a great extent and in turn they cannot contribute equally towards the success of the project. However, responsibility assignment matrix is followed by the project manager through which all related responsibilities of members is defined in advance and accordingly they get the power or resources to manage all related task in an effectual manner.
In addition to this, project manager follow the most suitable strategy or leadership style whereby workforce can be motivated and influenced in order to accomplish the given task. This aids to encourage them to put their efforts in the direction of growth and success of the project. Not only but they are provided reward for their better performance and achievement in the project. It can be made possible through continuous evaluation and monitoring of the project.
The below mentioned table is showing the total cost associated with the project. It covers cost related to each activity and its direct impact on the performance of the project. However, the total cost of the project was estimated to be £1 billion. The actual cost of the Wembley stadium has been stated as follows. It would be effective for the project management to accomplish all related activities. The higher cost was related to purchasing the site only which tend to increase overall cost of the project (£750m bill turns Wembley into a new Dome, 2017). Owing to this, suitable care should be taken at the time of allocation of fund. This in turn project manager focuses on reducing the cost associated with the project and meet the aim and objectives of the same in an effectual manner.
It is considered as the most important theory under the project management which deals in the three aspects such as scope, cost and time. It proves to be effective for formulating and analysing the challenges faced at the time of formulation, evaluation and implementation of private or public related projects. For this purpose, project management team focus on allocation of financial resources effective with a purpose to reduce cost and increase overall rate of return. For example, Wembley stadium needs proper financial resources through which all facilities can be added at the time of the completion of the project (Kivilä, Martinsuo and Vuorinen, 2017). Furthermore, emergency sources must also be allocated whereby company or project can be funded in case of requirement of scarcity of the financial resources. However, expert of project in the finance department estimate the proper cost as per the activities covered under the project. This proves to be effective in determining the success of the project and deliver good quality of services to large number of buyers. This facilitates to meet the objectives of the project effectively.
Furthermore, certain portion of capital can be set aside whereby it is made possible to change the project development requirement in case needed. This helps to deliver good quality of services to large number of buyers and accordingly accomplish all related activities in a right manner. On a critical note, wrong estimation was done on the Wembley stadium project was not right. This was the biggest reason behind the delay in the project and affected. whereby it becomes easy to cater requirement of all related parties and project in an effectual manner. In addition to this, alternative ways of the financing must be decided in advance so that company can address the issue related to scarcity of resources and meet the expectations of all associated parties.
Time as another important factor of the triple triangle where all project have different time line. Here, timeline of the project is considered in accordance with the several formal and informal factors. It consists of workers associated with project or site through which they can successfully accomplishing the project in relatively less time span. Time management of the project determines its success whereby scheduling is done through project managers so as to estimate the proper time for each project management step (Blomquist, Farashah and Thomas, 2016). Though, time management covers all activities such as acquisitions of raw material and making the available to the site. However, the case study of Wembley stadium reflects that delay was caused due to poor time management and accordingly it was stretched to 5 years. It could have been completed in less time.
In addition to this, scope of the project was also considered but still it leads to failure of the same. Here, scope of the project was considered in accordance with economic and technological changes. For example, construction project consider the economic changes that inflation and recession tend to affect the performance of the business to a great extent (Sökmen and Çebi, 2017). Owing to this, price of fuel might be increased which has significant impact on the material or transportation. This affects the performance of the project and in turn cost and time must be focused. The project related to Wembley stadium shed light on time and cost so as to effectively management the project related activities. On a critical note, in-spite of appropriate procedure related to quality, initial used raw material was of low quality. This affected the performance of the project. Thus, time, cost and scope of the project related to Wembley stadium was not decided effectively which in turn failure was occurred to the project.
There are several kind of project management methodologies which are selected in accordance with requirement of the project. As per the selected project of Wembley stadium following mentioned project management methodologies and processes are used for the success of the project-
This method is used for the reduction of the time taken to complete the project. Under this, all activities of project are presented with the help of Gantt chart so that management team can come to know about taken for each activity. Using the gantt chart take related to allocation of resources and responsibilities also become quite easier. The next step of forming the gantt chart is of critical path where longest path to complete the project in shortest duration is identified. Here, project management put efforts to reduce the time require to complete the project with association of highly skilled workforce along with advanced technologies. It contributes towards increase flow speed of competing the project (Richardm, Sorooshian and Shariman, 2016). Furthermore, critical path method is also applied other techniques related to crashing through which strategies related to cost reduction is applied along with further reduction in the time. It is made possible by competing several activities together. In this manner, business can effectively contribute towards the success of the project and ensure the increase overall rate of return and short time span. The critical path method is graphical representation of the activities covered under the Wembley stadium project so as to focus on increasing the efficiency and effectiveness of the project in an effectual manner. It leads to reduce the cost and time both and complete the respective project on right time. It can be critically evaluated that the major reason behind failure of the Wembley stadium is of inappropriate allocation of time for each activities of the project (Martinelli and Milosevic, 2016). However, it is also important to provide the training among personnel so they can work upon several activities together with target to meet the timescale allotted for the project. Similarly, PERT is also the appropriate technique through which appropriate path is decided in the project.
The process applied for the success of the project is total quality management under which six different aspects are focused. It consists different elements such as culture, cooperation and customer focus. Along with that, control, commitment and continuous improvement. For this purpose, culture of team is maintained and followed under team members are encouraged to follow the set standard and support project. For example, focus is laid on specific requirement of customers related to their comfort and basic facilities related to water and eatables in the stadium. On the other hand, commitment towards quality remains at the center of the project under which personnel get to know about the parameters set for the Wembley stadium project. However, earlier team did not follow such kind of approach and workforce were not supported properly due to exclusion of highly skilled personnel (Heagney, 2016). Owing to this, project failure was caused. In addition to this, continuous improvement is done as per the changing environment and requirement in accordance with current era. This is helpful for the successful completion of the project. Though cooperation must be provided from each member associated in the project team. This leads to long run success and growth and contribute towards higher rate of return out of the completion of the project. Apart from this, controlling is done with better monitoring and evaluation. This proves to be effective to understand the issue of the project and address the same by using suitable strategy.
There are several factors caused failure of the project such as inclusion of less skilled personnel in the project. For example, bidding process was the most problematic due to consideration to the lowest bidder and accordingly project was given. On a critical note, quality of the project affected to a great extent and use of financial resources was increased at the same time. For this purpose, project management must take suitable action to select the appropriate personnel who can utilize the limited time in a most effective manner (Project Failure – Wembley Stadium, 2017). Furthermore, issue of communication was another significant barriers which affected the success of the project. For this purpose, it is important to shed light on the important task related to the project and accordingly take the suitable action. It is affect for the business to support the management related activities by providing the important information among personnel of the project. However, the chances of the conflicts is also reduce with the help of clear communication only.
For this purpose, it is very important for the project management to select the right kind of suppliers to provide the raw material on right time with cost effective transportation mode. This in turn management can ensure the utilize the limited resources in an effectual manner. In addition to this, personnel associated with the project should be provided timely training (Alotaibi and Mafimisebi, 2016). It can be made possible by shedding light on the requirement of the project and capabilities of the same. This proves to be effective to determine the long run success of the project and accordingly meet the long as well as short term objectives of the related parties. Apart from this, quality parameters and resources allocation of the project must be done or defined appropriately so as to complete the project in a successful manner.
The aforementioned report concludes that management project contribute towards maintaining the quality and reducing the cost. It is done by using appropriate techniques such as critical path method and other related advanced technologies. It proves to be effective to meet the expectations of related parties. It can also be concluded that public project must be completed by focusing upon transparency and proper accountability of the associated or suitable personnel. However, issues related to team must be resolved effectively through the proper communication so as to determine the success of the project. Apart from this, resources available and delegation of authority should also be made possible with the help of project management. In addition to this, cost allocation can be done effectively with the objective to reduce the time and ensure the effectiveness of the project.
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