Assignment Sample on Market revenue of cosmetics industry
Introduction
This assignment is mainly focusing on the analysis of the “Hull Smart City Os’ ‘ by its management of the project, in which it discusses the role of the project manager, stakeholder management and engagement, and the project triangle in an effective way. Further, it discusses managing resources and mitigating risk, by managing budgets, risk management within the project, change management etc. Additionally, the study will explain how managing people and teams would be handled by the project manager by examining conflicts and negotiation, leadership and teamwork at the end of the assignment.
TASK 1- MANAGING PROJECTS
1.1 The Project Manager
- Critical evaluation of the “possible actions and skills” determined by the “project manager”
In the evaluation of the management of the project to create “Hull City” a smart city and established that it is not done for the cause of kit awarding that something is smart means great by technology and innovation however, in order to provide help to the citizens and community of the city, develop the way of smart that advantages the citizens to the growth of the productive factors. The capabilities of the “project manager” are discussed below:
Effective communication
Time management
The project consists of GPS technology, the Citilogik system, the VaisaIcecast program, and innovation that will be able to make better sources of data, and management of data so the project manager needs to perform overall work on time, (Attarzadeh, andOw, 2020, p. 8).
Problem-solving skills
Logical skills of problem-solving are essential for the Project manager in that he has to assure processes of technology are running smoothly without any complexity and all stakeholders are considered to be pleased with the accurate profits. The council of the city is determined as the best factor of the “problem-solving” powers.
Management
Another factor of the city at the time of management is created through the “project manager” which creates the city smart and further offers “incorporated experiences” where “Siemens Stratos platform” is created for “waste management” along with “traffic management”, “Datek street light management”, “road lighting system management” though the identified by “Bartec Auto”.
1.2 Problem-solving and Decision-making
- Recognition of the linked Project stakeholders
While handling the overall project and correctly performing the estimation of the potential stakeholders is essential for the enhancements of the “Project”.
The stakeholders identified in the “project” are resources managers, organization proprietors, team members, senior management, investors, the Hull city council, employees, IT managers, company owners from the and technological companies, the customers, professionals and users, (Wu, Hu, and Zheng, 2019, p. 2394).
- Stakeholder’s influence map
- Stakeholders Recognition
| Stakeholders | Area of Interest | Communication | Interaction |
| Project Manager | Checking the procedure of the project, and managing the project. | · Zoom meetings
· face to face communication · email and phone communication |
Daily |
| project designer planner | Planning outline of the project | · Group discussion
· Face-to-face conversation |
Weekly |
| project resource manager | Distributions of the task and the arrangements allocation of project resources | · Group discussion
· Face-to-face conversation |
Daily |
| project IT Manager | Use IT-based systems during the project | · Group discussion
· Face to face conversation |
Weekly |
| Employees | Work as a team on Project | · Group discussion
· Face to face conversation |
Daily |
| Project Client | Funding the progress |
|
Twice a Week |
| Hull City Council | Arranging projects funds and approving the licenses regarding the project |
|
Monthly |
- Critical discussion on the “engagements of the stakeholders”
After the closeness with the stakeholder, their interest and investment, observations and their expectations are efficiently inspected and further maintained, confirming that they are totally engaged in the “project” accordingly to get many possible project outcomes. The factor of ensuring that stakeholders are categorized by the identification of “stakeholders influence map”, hence, accomplishing an exact with the “engagement” is a major achievement, understanding them in the project will accurately map out even excellent results, (Sunindijo, and Zou, P.2019, p. 25). The standard of interest which stakeholders are more likely to display and proficiently shows confirms that they are taking part positively and likely to run with the projected growth and offers important material that requires financiers to invest. As well as gives help to the vendors, funds the project and considered where and how is requirement is how the role of engagement friendly to the stakeholders would create certain
1.3 The Project Triangle
- Critical communication on the importance of “Project triangle parameters” and their “interrelation”
The “triple constraints” of “project management” are factors that recognize the way the project is doing activities in the “triple constraints”. These three constraints smoothly work well in an objective full linking are cost, time and scope.
- Time
The factors of the tie are one of the most impacted areas by this aspect as it is focused on deliverables by the clients or suppliers at the time of occurrence of technical issues. Time is an important factor which needs to be considered by the team member as well as the project manager to ensure smooth work.
- Scope
The factors of scope are one matter that is often known as the part of the success of the “Hull smart city OS” in which project managers find appropriate scope to execute the project in a better manner and confirm the scope of the project properly, (Post, andKendall, 2019., p. 140). This time and cost give permission to the estimation that allows the stakeholder and sliders to improve the changes of the scopes of the project that are related to “Hull smart city OS”.
- Cost
The huge and wider scope in a working activity related to enhancing the time and the factor of the cost, that is a factor which developed interrelated. In order to enhance the data as well as narrow and limit the area of scope and cost, (Jurison, 2020, p. 17). For example, if the project needs funds, it requires lots of money to implement the project, so the project needs to be considered as made in order to attract the stakeholders who are eagerly ready to fund the project. Some of the aspects that may be easy to change the factor of the cost in the factor of “Smart city OS”, Hull UK in which variables such as enhancing costs by the suppliers may easily customize the cost by taking various aspects into consideration.
TASK 2 – MANAGING RESOURCES AND MITIGATING RISKS
2.1 Managing Finances
Requirements of resources
The requirement of resources to develop and strategize any project is set by the project managers. These resources are a kind of blood of the project as it helps to improve the effectiveness of the project and the effective flow of resources in this project development phase helps in doing the same (Meng et al. 2019, p.09). For the purpose of such resource requirements, there should be a plan that will be implemented in this project so that the resources may not get wasted and effectively can be used in developing the project of “Hull Smart City OS”. This effective flow of resources is required for gathering data, funding in purchasing assets and other materials, motivating the employees, investing in another project to get revenue, and so on.
Effective cost estimation technique
Cost estimation is the most important thing in developing a project, it helps to reduce the expenses and increase the chance of profitability along with the increment in effeteness of operations taken for project development. For such purpose of estimating the cost and expenses in project development, there are various techniques that can be taken to this project formation. A few examples of such techniques are “Parametric Estimating, Three-point Estimating, Data Analysis, Decision making” and so on (Kwon and Kang, 2019, p.12). Among all such cost estimation techniques the method of Data analysis is the most effective one. With the help of this technique all the business activities and financial data are analyzed and based on such analysis decision get made. Thus, it helps to make effective decisions and the cost can be estimated.
Importance of baselining the activities
With the help of the adoption of baselining activities in the project execution phase the translation of the project plan into the agreed-upon forecasting guide the whole project management team to achieve the goal of the business. These activities also help to reflect the requirements and the issues going on in the project to easily take initiative decisions for resolving such issues. The baselining activities also help the project manager to ascertain the progress of the project and find out the length and duration of this project execution phase as well.
Importance of determining a critical path
Various project managers may have thought that this critical path is one of the longest sequences of all the dependent actions and activities held in the project formation. Thus, with the help of this projection of a critical path in this project easily the determination of task scheduling, prioritizing tasks, keeping project cost within budget, and also resolving all the conflict in the project can be done (Murray et al. 2020, p.04). As this critical path discloses all the taken actions by the project manager for forming the project thus, it is one of the most important actions in this execution phase. It also helps to complete the task and action on time so that recurse get not wasted and management of time also may do.
Difference between top-down and bottom-up approaches to cost estimation
| Top-down | Bottom-up |
| · It is a managerial task that reflects that the task has been started to achieve the goal and managing such tasks breaks all into a few parts (Kondo et al. 2020. p.06).
· It helps the team member by knowing the period of time for executing the whole project. |
· It is the managerial approach that deals with first assigning the results and techniques and taking action for tasks.
· It helps the employees and other team members to ascertain the period of sub-task going on for project execution. |
Table 1: Difference between top-down and bottom-up approaches
(Source: self-developed)
2.2 Risk Management within the Project
Importance of risk management
Risk management is such a process that helps to identify the existing and potential risks in the project formation process and guide the team members to avoid and resolve risks from this process to make the operations more effective. With the help of the adoption of this risk management proves by the project manager has the task of computing the uncertainties and the impact of such risks on the business activities can be easily measured (Willumsenet al. 2019, p.07). As it helps in detecting the risks in the ongoing activities thus by taking initiative actions all such risks and obligations can be removed by the project formation process s well. It also helps to take action for mitigating such risks and never to have those in the future onwards. This process follows a few steps such as “Initiate, Identify, Assess, Plan response, and Implement”.
Identification of risks in this project
Environmental risks
Environmental risk refers to the kind of risk that may arise in the project execution phase due to environmental issues. As this kind of risk arises from the environmental issue thus it is quite unavoidable. A few examples of these kinds of risks are “pollution, radiation, noise, land use patterns, work environment, climate change” and so on. Due to having this kind of risk the culture of the project formation gets changed and also hampers the operations and taken strategies as well. These risks are not avoidable by the operation so there should be other ways to avoid the impact of this environmental risk from the project formation process.
Operational risks
Having operational risks brings uncertainty in the process of forming the project. It may impact the internal actions taken by the project managers to execute this project. Thus the taken actions get ineffective and it reduce the chase of achieving goals (Munir et al. 2020, p.06). A few examples of this kind of risk are “Supplier may go out of business, Business processes and controls, Internal and external fraud, employee error” and so on. With the help of taking initiative action easily, this risk can be resolved by the risk managers.
Financial risks
Financial risk is a kind of uncertainty about the ability of this project to execute by mitigating all the financial debts and obligations. It also represents the risk to have sufficient cash flow inside the operators and effectively handle all the financial activities. A few examples of this financial risk in this “Hull Smart City OS” are “expenditure risk, credit risk, income risk, asset or investment risk” and so on (Fedoryshyna and Todosiychuk, 2019, p.04). The increment of this financial risk in this project formation disabled the effectiveness of the projected activities.
Strategic risks
These strategic risks mainly take place in the project formation phase when the conflict between internal and external culture gets raised and that impacts the ability of the project to achieve the objectives and goal. A few examples of these strategic risks are “making poor decisions, changes in leadership, management process changes, industry changes” and so on. As this kind of risk directly hampers the strategies thus the development of the project and its improvement also get affected.
Reputational risks
Reputational risks are a kind of threat to the brand value and market demand of the execution of the project. It reduces the chances of investment in the project by the investors and also reduces the fund flow. A few examples of this kind of reputational risk are “Breach personal data, Security and fraud risk, Negative reviews” and so on. This reputational risk also affects the culture and ethics of the project.
Compliance risks
Compliance risk is related to the actions taken by the project manager related to the taken activities for legal and financial exposure operations. By maintaining all the rules, laws, and protocols this kind of risk can be easily mitigated. Thus, a few examples of compliance risk are “Data Management, Employee Behavior, Social Responsibility, Workplace Health and Safety” and so on.
Technological risks
This kind of technological risk arises in the project execution phase at the time of taking or adopting new technological equipment or tool for improvement (Drljevic, Aranda and Stantchev, 2020, p.08). A few examples of this kind of risk that may arise in this project are “data corruption, hardware breakdown, connectivity and access, network security change” and so on.
Risk register format with mitigating actions
Difference between risk appetite and risk attitude
| Risk appetite | Risk attitude |
| · This term risk appetite refers to the level of risk that the project manager can handle for project execution (Ainia and Lutfi, 2019, p.02).
· It is a statement that discloses all the risk-related data and information of the project. |
· Risk attitude is a kind of disposition toward uncertainty, implicitly driven by the team members.
· It is a kind of action that is based on the risk appetite. |
Table 2: Difference between risk appetite and risk attitude
(Source: self-developed)
2.3 Change Management
Importance of managing change
Changes are such a thing with which the project managers and the whole team need to collaborate, whether they are willing to do so or not. It may be the changes in the operations, in strategies, methods, and approaches, and it can be in any kind of decision as well. All these changes may be in favor of the organization or it may be not in favor though the members need to deals with such changes. Thus, the management should be adopted for managing these changes and make sure that it may not impact the operations and other activities. With the help of this change management easily the transformation of the changes and maintaining the flexibility in the operations can be maintained. So, it has been proven that the adoption of change management helps the project process to become more flexible and can deal with any kind of changes whiteout hampering the quality of the task.
Controlling and managing changes in the Project
For the purpose of controlling and also managing the changes that occurred in the project a few steps need to be followed as stated below.
- Defining all the existing and future changes that may have occurred in the project execution phase.
- Evaluating the impact of such changes that may occur.
- Submitting a few reports based on the adoption of strategies to overcome the impact of changes to the higher authority.
- Adjusting the project plan according to the observation.
- Implement the new project plan.
Importance of a change control board
The above steps are mentioned for the purpose of bringing flexibility to the project operations and controlling the changes as well. Thus, in this regard for doing all such things in the project execution phase this change control board is required (Williams et al. 2020, p.07). Without having an effective control board in the project all such activities to maintain the changes cannot be possible and it may affect the effectiveness of the performance as well.
Importance of due diligence
Due diligence is such kind a process that helps to identify the risk, measure that risk, find out the impact of risk, and guide the organization to deal with that risk for resolving without hampering an operation (Krajewski, Tonstad and Wohltmann, 2021, p.06). It helps to achieve the target and the goal that has been forecasted. Thus, with the help of this process, risk can be managed and guidance is provided to achieve the project’s success.
TASK 3 – MANAGING PEOPLE AND TEAMS
3.1 Conflict and Negotiation
Identification of six conflicts that arise while running the Hull Smart City OS project and their sources
Conflict of Uncertainty
Project management tends to depend on different work processes for the allocation of new work to the management of the overall task. Therefore, the project manager is responsible for collaborating with the members and executing the work (Oraee, et al. 2019.p.12). As a large number of people are engaged in the process conflicts may arise at6 any stage of the management.
Scheduling conflicts of the different tasks
The mitigation of the individual task tends to effectively increase the conflicts in the scheduling process of the next task. If the first task of the project is delayed then simultaneously, there is a delay in the next stage of the project implementation. This may cause an overall delay in the completion of the project
Conflicts occurring due to “scarcity of resources”
Resources play a vital role in the completion of any project. Resource mismanagement tends to result in differences, disagreements as well as trust loss from the different resource providers. The project tends to be dependent upon resources like financial factors, technological factors as well as human power, all are responsible for the conflicts to occur in the process.
Conflicts regarding different roles and responsibilities
The roles and responsibilities of each and every team member tend to be related to each other. Therefore, this may create an issue of trust, cooperation as well as a “feeling of harmony” among the members.
Use of new tools and technologies in the process
The introduction of new tools is also responsible for creating conflicts in the project management system (Qi, et al. 2021.p.17). The implementation of new tools can make the work process of the team tends to be uneasy and issues may arise in using the tools.
Ineffective leadership
Leadership is also one of the important factors in completing the project plan in a smooth manner. ineffective leadership can result in negative results in the planning process.
Negotiation strategies are taken by project managers to resolve the conflicts
- Conflicts of uncertainties tend to be resolved by the managers by implementing different management processes in the team. The manager is suggested to bring the overall team members together and a clear picture of the project is required to be provided to understand the objective of the project. Personal conflicts can be resolved by allowing them an individual task in a common place to track them. Documented discussions can make the process easy.
- The project managers can reduce such conflicts arising in the management process of the ongoing projects of “Hull Smart City” by discussing the timelines with the clients as well as the stakeholders (Magano, et al. 2020.p.15). The drawbacks are required to be identified with common discussion and new implementation should be done to increase the management’s speed by organizing tasks for the coming time period as well. Gantt charts can be prepared to set and edit task deadlines as well.
- The conflicts of the resources can be resolved by identification of the areas of issues with the resource management process. Identify the availability of the required resources and create a standby list. Then the managers are required to determine the resources and invest in proper technological factors to keep track of them.
- The project managers of the “Hull Smart City” are suggested to keep records or track the employee’s performance and analyse the potential of each individual to assign their task. The roles and responsibilities are to be shared with the members to create a better understanding of the project.
- The issues of new tools can be resolved by the project managers by introducing the tools to a few members of the team and male they understand the features as well as the function of the tools (Papadonikolaki, van Oel, and Kagioglou, 2019.p.17). This may create an efficient impact as they can help the other members to understand the process gradually.
- The ability of the project managers to be improved by being goal-oriented and pursuing effective communication with the team to resolve conflicts. The solutions are required to be identified as well to complete the project in an effective manner.
3.2 Leadership
Identification of different leadership styles implemented over the Hull Smart City OS project
Transformational leadership
Transformational leadership style tends to be emphasized more over the changing process as well as transformation (Asbari, Santoso, and Prasetya, 2020.p.17). This leadership is highly effective in the present project as it is mainly looking for significant changes as well as a transformation process. The styles tend to be more focused on future growth.
Delegative Leadership
A delegation leadership style tends to effectively impact the project implementation by trusting and depending on the team members of the project. As the completion of the project is dependent on the members, the leadership styles are effectively implemented over the “Hull Smart City OS project”.
Authoritative Leadership
In this kind of leadership, the leaders tend to consider themselves as mentors for the other following members of the team (Minehart et al. 2020.p.16). This may not create confusion regarding the authorization of the leadership. It mainly focuses on the “follow me” approach
Role of leadership styles in Improving the Effectiveness and Success of the Project
The transformational approaches in the “Hull Smart City OS project” acts as positive aspects for the team of the project. The leaders are intended to adapt the style to mitigate the requirements of the individual members. This may enhance the positiveness of the projects to give positive results (Sousa and Rocha, 2019.p.13). The effective implementation of the delegation leadership style tends to be helpful in encouraging the subordinates of the teams for being creative as well as innovative in their work process. As the leaders of the project tend to have autonomy in the process of decision-making, different approaches can be easily explored by the leaders to resolve the issues which can be helpful in innovative solutions to the issues.
Techniques used to mitigate the above conflicts occur while solving problems and in the decision-making process
There are different biases that may arise in the process of resolving issues as well as the decision-making process. The use of the “SPADE” framework in the process tends to be helpful in the decision-making process as per the factors of setting the time frame, people involved in the analysis, and in the work process, alternative options are required to be identified to implement in the work process which may also include critical stakeholders. Feedback is required to decide to select the best alternative (Ding, et al. 2020.p.18). The explanation of the selected alternative is to be done for the next process of execution. Taking advice from other leaders helps to be effective in the process of removing biases from the decision-making process of the project management as well.
The overall analysis of the different leadership styles tends to result in the effectiveness of the performance of the project. It can be recommended to the project managers of the “Hull Smart City OS project” to follow the transformational as well as Authoritative style of leadership to complete the project in an effective manner with different levels of improvement. The implementation of the leadership styles can enhance the work process of the team members with proper guidance and effective results.
3.3 Teamwork
Role of project managers in building highly successful teams for the project
Project managers play a vital role in the formation of effective teams in the implementation of projects. Therefore, are certain roles and responsibilities that are required to be taken by the project managers they may include:
- Balanced teams can be established by the managers by implementing their technical expertise.
- The managers are also responsible for clarifying the objective of the project to the members to achieve them (Armenia, et al. 2019.p.18). An opportunity is to be provided by the managers to raise issues as well as concerns of the members of the project to avoid negativity in the work process.
- Management support is one of the important aspects as the selection of team members tends to be critical for different departments. Therefore, the project managers are involved in providing support as well as commitments for the completion of the project in the given time period.
- The manager is also responsible for analysing the development process of the project at different stages to ensure the completion of the work process at every level.
Importance of diversification of the team for the improvements of the project performance
Diversification in the project management system tends to be effective in increasing the productivity of the team members of the project. The members with different work experiences and different backgrounds tend to have different aspects of the work process. Therefore. sharing of the knowledge and experience may lead to the process of creating innovative ideas for completing the project (Wu, et al. 2019.p.19). This may also help in resolving issues in a faster manner. The overall diversification of the team tends to be helpful for the managers to take better decisions regarding project management as per the different suggested facts by the members. The process may also help in creating better understanding between the members with a higher level of satisfaction in the workplace
3.4 Actions taken by project managers in building a diverse team
The action which is taken by the project managers to build a diverse team is an essential process which is executed by the Project manager of the “Hull smart City OS” project, it has been summarized below:
Know about the Religious and cultural Holidays
The place where projects are implemented is an important factor that is similar for all religions. However, in the case of cultural and religious holidays, the manager needs to research and decide holidays accordingly, (Owusu et al, 2019, p. 50). These are the small steps that help to motivate the employees and better work in a workplace.
Make use of “online tools” for better coordination
The manager of the project needs to transfer communication through the use of online platforms. It smoothens the flow of communication whether the employees are at any place of the owner or not. Hence, the use of online tools should be normalized in the workplace.
Respect cultural values
The culture among the employees are not similar to each other, so for the creation of a healthy environment, project managers need to adopt certain steps by considering the basic morale of the employees and staff as well as the citizens of the county and enhance the work performed at the workplace.
Keep communication
It is necessary for all team members to communicate in a formal way so the task must be complicated accurately through better communication skills among the employees and the employer.
Create common culture
In the workplace, there needs to be a common culture that is not related to any religion, which offers all caste people to come and work in an environment where members feel free to share their creativity, ideas, knowledge, and important information.
3.5 Challenges faced while working in diverse teams in terms of EDI 150
While the taking action by the project manager to execute and implement the potential techniques for the creation of a culture that will diversify the team is not an easy task. So the project manager has adopted different leadership courses and trained them on how to motivate and reward the employees so the workplace becomes a heaven. Regarding this, the team members are really found to be satisfied at the workplace, because of the common culture, they feel confident to accept that their company and project are able to treat them the same and thus it leads to a healthy work environment. There were lots of challenges such as negative-minded employees creating objections as well as stakeholders who were not supportive. Instead, the project manager has not given up but tries to make up the mind of the employees toward the task and the motivation techniques make the workplace healthy.
Conclusion
This reported file has been executed based on the topic of “Project Management Essentials” covering the project of “Hull Smart City OS”. In this regard, all the aspects related to the execution phase of this project have been highlighted in this report. A brief overview of this project manager and their taken strategies, methods, and approaches are considered in this report to highlight the effectiveness of the project management work. In this regard, a project triangle has been framed here to highlight the interrelated parameters of the project. This report also covered the aspects related to the risk management and the resources management that are the most important factors in exiting a certain project. For such purpose, a few risks are highlighted in this report that may occur in the mentioned project. The effectiveness of teamwork and leadership also has been covered in this file to make sure the accuracy of the reported file.
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