Outline and evaluate your risk management strategy

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Reference no: EM132840765

Project Management Introduction

Birmingham United Football Club New Park Road Stadium

Section 1 - Project Definition

Q 1 - Define a mission statement for this project.This is a brief narrative description of what you want to achieve.

To provide Birmingham United FC with an iconic landmark stadium,larger capacity and unique quality, where fans will live the moment and inspire the players.

Q 2 - Rank each of your SMART project objectives, in descending order of their importance.

1. Increase the capacity to 36,000 ordinary seats.

2. Improve the view quality, "C" value to 119mm.

3. Install a part artificial "GrassPro4" systempitch type.

4. Earning £3 millionperdecadefor stadium naming rights.

5. Design pitch size within football league regulations.

6. Construct total of 30 corporate boxes only.

7. To have a new stadium like a Fortress.

8. Foundations for 2nd tier (future expand plan).

9. To complete the project within 24 months.

10. Construction cost must be within the budget (50 million).

11. Generate matchday revenue in between £1.2 to £1.3 million.

Q 3 - Evaluate how two of your key objectivesare in conflict with each other.

The number of the corporate boxes and viewing quality are two of themainobjectives oftheproject, but during preparation and planning phase it has been noticed that these two objectives areconflicting and having a negative impact on each other. Since the relation between corporate boxes and viewing quality is inverse relationship, which means that the more corporate boxes are designed in the stadium, the less viewing quality that Birmingham Unitedfans will experience during the matchday or any other event that can be hosted in the stadium.
Keeping in mind the below consequences of the conflict of having extra corporate boxes:

1. Space:one of the main reason of having anynew stadium is the space as majority of the stadiums in the UK are old and doesn't have sufficient space for the supporters which will require to build a new stadium to increase the capacity of seats, however building the Birmingham FC stadium with larger capacity is a necessity and installing corporate boxes is an advantage but also will affect and reduce the space significantly in the stadium.

2. Quality: installing additional corporate boxes is rewarding for the customers as they will have more privacy and comfortability but that will reduce the viewing quality hardly and will bring the "C" value to under 90 mm, whereas the average "C" value is the old stadium was 75mm.

3. Revenue: will be impacted as well since the number of ordinary seats will be reduced to the minimum, plus the average price of the tickets which can be sold will be impacted.

4. Timeline and duration: The time of the construction will be extended, and stadium might not be finished within the timeline.

5. Construction cost: financially, the construction cost will be increased due to the installation of corporate boxes.

Q 4 - Evaluate how you address that conflict.

Based on the above analysis and factors related to the conflicts, it was decided to go for a maximum of 30 corporate boxes and 36000 seats, as the more corporate boxes installed will affect the number of seats required.Accordingly, the stadium standard will be brought to the level of the most modern stadiums, since seating in the most modern football stadia typically had a "C" value of between 90 and 120mm : 120mm being a very high standard where spectators are hardly obstructed. However, it was decided to upgrade the C value from 75mm which was set at the old stadium to 119mm which is only one degree under the very high standard stadium globally.

Moreover, The additional installation of corporate boxes will definitely affect the viewing "C" value and bring it under the standard which is not recommended at all. Honestly, installation of the corporate boxes has some advantage also such as generating extra revenue as
recommended also by Ms.Rachel Connor the Finance Director.

But in conclusion, we decided finally to stick to our plan and goal and not to compromise the stadium viewing quality and space. Consequently, the raking of the stadium will be lowered and this is considered as high risk and must be mitigated.

From other hand we had to take a look into the c value factor andin order to increase the viewing "C" value to 119mm. It is a benefit to have additional corporate boxes

But on the other hand,

However, according to the plan it was decided to have a better view quality as there was no option rather than reducing the number of the corporate boxes.

Section 2- Project

Q 5 -Mapa network diagram/Gantt charts. State the duration of both Traditional and Design & Build. Highlight the critical path.

You can use the sheets provided below or create your own and paste in to document.

Q 6 - Explain how the critical path informs your decision making. To clarify, provide an example of a critical task of your choice.

Section 3- Stakeholders

Q 7 - Map your stakeholders in accordance to their power and interest.

Q 8 - Rank each stakeholder in descending order of their power.

Q 9 - Evaluate your stakeholder management and communications strategy.(400 words)

Q 10 - According to Q7, and your ranking in Q8, evaluate how you want to address conflicts of power and/or interest between your stakeholders. To clarify, provide an example.(400 words)

Section 4- Contract

Q 11 - Evaluate your chosen procurement strategy (Traditional, Design & Build).(400 words)

Q 12 - Evaluate your chosen contract type (Standard, Partnering).(400 words)

Q 13 - Evaluate your chosen pricing options (Fixed Price, 50/50 Pain Gain Share). Please take into account Liquidated Damages.(400 words)

Q 14 - Explain how your choice of your procurement strategy(traditional), contract type(standard), and pricing option(fixed price) will impact the relationship with your subcontractors. .(150 words)

Section 5- Scoping/Resources

Q 15 - Evaluate how you want to address the problem that more scope options will increase complexity and thus the risk of failure. To clarify, provide an example.(400 words)

Q 16 - For a scope option of your choice, Explain your decision .(150 words)

Section 6 - Risk & Opportunities
Q17 - Outline and evaluate your risk management strategy. Consider how your choice of contract has influenced your risk mgmt. strategy.(400 words)

Q 18 - Explain your decisions on three risks of your choice.

Q 19 - This project involves unexpected events (events you do not know about and cannot do something in advance of their occurrence). Evaluate how you prepare yourself for those uncertainties. To clarify, provide an example..(400 words)

Q 20 - Please check your Earned Value in Month 18. Evaluate how you want to address your schedule and cost discrepancy.

Attachment:- Project Brief Document.rar

Reference no: EM132840765

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Reviews

len2840765

3/25/2021 10:41:02 PM

Dear Sir, the subject is project management, the first part was doing a project in a simulation system and from the system we had to get the answers,however there are general questions need to be answered from the attached assignment highlighted in red to be answered only, please answer the red highlighted from every question and moreover i have attached the project brief where it can be used to answer the project and also the project help is attached for further assistant if required. kindly on urgent basis to prepare it by Monday

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