Level 4

Business Practice Explored

Project and time management
 Today’s Session
• Defining ‘projects’ and ‘project management’
• Purpose of projects
• Stakeholder management
• Project costs
• Project risks
• Project/time management
• The importance of teams and team roles
Project management
• What is a ‘project’?

• What have you done that may be

considered a project?

• What is Project Management?

– Examples?
Project management
• Projects – unique, temporary,
time/money/scope/requirements constraints, outcomes,
stakeholders, change, uncertainty, risk etc….

• What are the key skills required to be a successful

project manager?

• What are some of the reasons why projects fail?

– Can you relate this to what you have been doing in
your sessions to date?
Project management
• The purpose of projects?
– New product development?
– A unique product?
– Enter a niche market?
– Gain/maintain a competitive advantage?
– To not be left behind?
– Return on investment?
– …working on multiple projects at one time
Stakeholder Management
Stakeholders are all individuals or groups who have an
active stake in the project and can potentially impact, either
positively or negatively, its development

• External Stakeholders • Internal Stakeholders

• Clients
• Competitors
• Suppliers
• Environmental, political,
consumer, and other
intervenor groups
• Senior management
• Accountants
• Other functional managers
• Project team members
Stakeholder Analysis and Management
Who were the stakeholders for the London
2012 Olympics?
Who are the stakeholders for London
2012 Olympics?
• International Olympic • Audience (Ticket holders)
Committee
• Audience across the world
• Athletes
• Trainers
• Royalty
• Physiotherapists • Caterers
• Team Support Staff • Press
• Olympic Officials • British Government
• Olympic Judges • Tourist Board
• Construction workers • Local Residents
• Volunteers • Police
• Security guards
• The Organising Committee
• Athletes’ families/
entourage
Activity: Complete the Power: Interest
Stakeholder Map for London 2012
Solution?
Project management - costs
• Time - Direct input of labour
• Materials
– Consumables, equipment and other items
• Indirect expenses
– Transport, training, etc.
• Overheads
– Office, financial and legal support, managers and non-direct staff
• Contingency
– Margin or allowance

– What else…?
 Managing risk in projects

Risk management – the art and science of identifying,

analyzing, and responding to risk factors throughout the life of a
project and in the best interest of its objectives.

Project risk – an uncertain event or condition that, if it

occurs, has a positive or negative effect on one or more
project objectives such as scope, schedule, cost, or quality.

Risk = (Probability of Event) * (Consequences of Event)

Copyright ©2016 Pearson 7-13

 Four Stages of Risk
Management

1. Risk identification

2. Analysis of probability and consequences

3. Risk mitigation strategies

4. Control and documentation

Copyright ©2016 Pearson 7-14

Risk Management Strategy
Some of the more common risks in
projects
• Absenteeism
• Resignation
• Staff being pulled away
• Additional staff/skills not available
• Not effective training
• Initial specification is poor or incomplete
• Enhancements taking longer than anticipated
Project/time management
• Work breakdown structure
– Resourcing, scheduling, etc. follows
• Gantt charts
– Start date, end and duration
– The project tasks
– Who is working on which task(s) and duration
– Keeping track – current status of project
– Dependency, parallel/sequential activities
– Milestones, deliverables
Project/time management
– For example – developing some technology/software
The importance of Belbin Team roles
• Belbin is all about making teams within organisations as high
performing as they can be

• By analysing the behavioural contribution of each individual in the

team, you have the tools to bring the right people together so that
your teams are more likely to succeed and achieve their goals

• Divided in 3 types
– Action oriented – Implementer, shaper, extroverts, resistant to
change
– People oriented – Coordinators, manipulative and political
– Thought oriented - Individual innovative workers, Evaluators,
specialist
The importance of the Tuckman Model