Project Risk Management - Holyrood Project

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Project Risk Management|
M3N313401-12-B|
Group report   Jenna McCall : S1O21235 Adelle Kelly : S1023858 Angela Mitchell : S1034517 Luciano Farias : S1306729 Iaponaira de Abreu : S1306726| |

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5103 words

Contents

1. Introduction
2.1 Executive summary
2. Case study

3. What is project management
4.2 Successful project management
4.3 Risk management in projects

4. Project Scope
5.4 Cost management
5.5 Time management
5.6 Project management tools

5. Stakeholder management
6. Conclusion
7. Recommendations
8. References

1. Introduction
After the identification of the requirements of the Holyrood parliament building, responsibility for the construction of the project was handed over to the Scottish Parliamentary Corporate Body in June 1999 which took place over the course of 5 years. A project goes through many phases throughout its lifecycle and can be deemed successful if implemented efficiently against initial objectives. This includes cost effective, quality management and completion within the required time scale with the overall aim being to meet stakeholder’s objectives. A project that fails is said to be one that lacks quality, control and management. In order for project management to be effective, both strategic and operational strategies must be incorporated.

1.1 Executive Summary

Project risk management is a systematic process concerned with reducing the risks and uncertainties involved in business activities, essential if a project is to achieve its objectives which typically include scope, time and cost. It is based on managing people so that a project can be actively managed reducing the risks that could occur. After the objectives have been defined, in order for appropriate risk management to be exercised, a traditional SWOT analysis should be conducted to identify strengths, weaknesses, opportunities and threats involved in the project. This report discusses the foundations of project management and indentifies the Political, Economical, Social, Technological, Environmental and Legal drivers that can influence project management. In order for the project team to achieve successful completion of the project against delivery time and budget they should follow four steps- identifying the objectives, the projects deliverables, and the schedule and supporting plans. Overall project risk management forms the basis of any successful project. It is used to identify the challenges that the project is particularly vulnerable to in order to ensure impact is minimised. It is vital that the project team makes effective use of risk management in order to manage unforeseen complication which could arise. The biggest challenge that projects face is the inadequate management of planning. Failed projects tend to be ones which over stretch budget, schedule and do not accomplish its desired purpose. 2. Case study

The construction of the ‘Holyrood Parliament Building’ first began in June 1999, and the Scottish Parliament held their first debate in the building on 7th September 2004. The official opening of the new building was on 9th October 2004 and was opened by Queen Elizabeth. From when construction began in 1999 until the opening of the parliament building in 2004, the committee rooms and the debating chamber of the Scottish Parliament were forced to hold their meetings in the General Assembly Hall of the Church of Scotland. Office and administrative accommodation which were supporting the...
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