Refurbishment of a Residential Housing-Free-Samples for Students

Question: Develop a Stakeholder Analysis For Your Example Project. Identify As Many Stakeholders As You Can Using. Answer: Introduction The chosen project is housing complex refurbishment project that will be done to renovate various walls and interiors in order to make it safe for people to dwell in. The chosen housing complex contains 3 residential towers (5 storey) and some attached shops on the ground floor. The buildings are quite old and hence need renovation in the exterior and the interior. Accordingly, a project has been proposed by the buildings owners and the residents who agreed on recruiting contractors for total refurbishment of the entire building. Accordingly, several stakeholders will be involved in this project and a suitable project plan needs to be developed. In this report, a basic project plan has been developed for the house refurbishment project and accordingly, stakeholder analysis, stakeholder matrix and communication matrix have been developed. Stakeholder Analysis Stakeholder analysis is an important aspect of any project that is used to determine individuals and their roles in course of the project. Moreover, the analysis helps to define the designations of the stakeholders for the course of the project. A focal and fundamental idea of project stakeholder management is that the project supervisor should appoint and allocated duties to the stakeholders so they are able convey their commitments to the project. Another hidden project stakeholder management issue is that project directors have restricted access to project resources and hence, it is the duty of the project stakeholders to manage the entire payment and budget allocation processes. Project Stakeholders Internal External Affected by Project Process Building Owner Residents Shopkeepers of the Rental Shops in the Building Contractor Municipal Corporation Neighbors Tax Office Nearby Clubs Affected by Project Result Residents Shopkeepers of the Rental Shops in the Building Residents Friends and Families Clients of the Shops Stakeholder identification and prioritization matrix gives the advantage of determining the overall roles to be played by the stakeholders in the course of the project. This matrix uses the external elements that may or may not affect the project. However, they are extremely important elements for any stakeholder table as the overall activities by the stakeholders can be summarized and compiled within a simple document table. This matrix also determines the overall interest and benefits of the stakeholders in the project. Stakeholder Identification and Prioritization Matrix Stakeholder Stakeholder Stakeholder Stakeholder What is Important Owner Residents Contractor Municipal Corporation Power Yes Yes No Yes Interest No Yes Yes No Influence Yes Yes Yes No Impact No Yes Yes No Urgency No Yes No No Legitimacy Yes No No Yes TOTAL Yes 3, No 3 Yes 5, No 1 Yes 3, No 3 Yes 2, No 4 Priority Medium High Medium Low Project Stakeholder Matrix is an advanced stakeholder matrix that is widely used for the preparation of stakeholder management plan or the entire project plan based on a particular topic. The stakeholder matrix is mainly used to determine the interests in project by the stakeholders and possible support strategy that they will need to implement during the course of the project. Stakeholder management requires that the firm "considers its association with particular stakeholder bunches as it sets corporate heading and details its techniques". This comprehension should empower showcasing methodology to address both the destinations of the firm and its stakeholders and along these lines ought to be more successful. By effectively applying stakeholder management hypothesis, advertisers will take after a procedure that enables them to create promoting system that incorporates the worries of all stakeholders by driving the advertiser to consider who its different stakeholders are and how t hese stakeholders connect with the firm. Project Stakeholder Matrix Stakeholder Interest in Project Priority Support/Mitigation Strategy Building Owner Renovation of Building Key Authorize the Project Residents Renovation of Rooms Key Prepare List of Possible Modifications Shopkeepers for Attached Shops Renovation of Shops Key Prepare List of Possible Modifications Contractor Execute Renovation Process Key Execute the Project Municipal Corporation Earn Revenue from License Grant Other Grant License in Exchange of Revenue Tax Office Earn Taxes from the Refurbishment Key Allow Project Against Sufficient Tax Residents Friends and Families Visit Newly Furbished House Other Offer Ideas Customers of Shops Visit Refurbished Shops Other Offer Ideas Project Decision Marking Guide The following is the project decision marking guide for the project. This decision making grid helps project managers to determine duties of the project as well as the communication window in which, the stakeholders will be able to discuss and find solutions regarding addressing the issues in the project. Moreover, the business in fi Project Decision Making Guide Person When Building Owner When the building is unsuitable for living in Residents When they need to refurbish their rooms Shopkeepers for Attached Shops When they need to refurbish their shops Contractor Contract signed, project active Municipal Corporation Project active, Permission request submitted Tax Office Throughout the project Residents Friends and Families During execution Customers of Shops During execution Stakeholder Engagement Matrix This matrix is used analyze the determination level of the stakeholders in managing and executing the project. From this matrix, it can also be determined whether some stakeholders are resisting the project execution or not. Unaware Resistant Neutral Supportive Leading Building Owner C D Residents C D Shopkeepers for Attached Shops C D Contractor C D Municipal Corporation C D Tax Office C D Residents Friends and Families C D Customers of Shops C D Communication Matrix The communication matrix is required for all the stakeholders involved in the project.. The matrix is suitable for people with the duties of managing projects and they need to assort all the stakeholders in one place and allocate them suitable duties related to the project. Moreover, communication matrix also includes the mode of communication that must be followed by each and every stakeholders of the project. The mode of communication includes documented reports, financial reports, verbal and others that can be used for a stakeholder to demand new modifications or changes in the project. Stakeholder Learn From Share With Timing Method Owner Building Owner Building Condition Details of Damage / Condition When Needed Self Inspection Self Residents Room Condition Detailed Condition Weekly Self Inspection Building Owner Shopkeepers for Attached Shops Shop Condition Detailed Condition Weekly Self Inspection Building Owner Contractor Requirements Project Requirements Daily Daily Meetings Project Team Lead Municipal Corporation License and Permissions Revenue Biweekly Financial Reports Building Owner Tax Office Taxation Policy Tax Monthly Financial Reports Building Owner Project Meeting Plan Project Meeting Plan is used to hold a meeting every week where each and every one of the stakeholders will join and discuss about various topics regarding the project progress as well as extra requirements that are required by the project. A brief project meeting plan has been provided in the following table. Project Team______________ Date_________ Time___________ Place_____________ Purpose: Topic Person Time Review Agenda Residents 5 mins Summary Contractor 10 mins Meeting Evaluation Building Owner 5 mins + Refurbishment of the Buildings Improvement in Exteriors and Interiors Opportunity for Expansion Budget Limitation High Taxation Lack of Best Contractor Conclusion In the report, a basic project plan has been prepared for refurbishment of a residential housing complex. The elements of project management that have been discussed in this report include stakeholder management matrices and tables that have helped to identify suitable stakeholders for the project as well as allocate the duties to them to perform. The matrices have specifically helped to classify and allocate duties among stakeholders so that they can achieve their goals in the project easily Bibliography Boud, D., Cohen, R. and Sampson, J. eds., 2014.Peer learning in higher education: Learning from and with each other. Routledge. Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Fleming, Q.W. and Koppelman, J.M., 2016. Earned value project management. Project Management Institute. Kerzner, H., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Larson, E.W. and Gray, C., 2013.Project Management: The Managerial Process with MS Project. McGraw-Hill. Nicholas, J.M. and Steyn, H., 2017.Project management for engineering, business and technology. Taylor Francis. Phillips, J., 2013.PMP, Project Management Professional (Certification Study Guides). McGraw-Hill Osborne Media. Schwalbe, K., 2015.Information technology project management. Cengage Learning. Turner, R. (2016).Gower handbook of project management. Routledge. Walker, A., 2015.Project management in construction. John Wiley Sons.