Introduction
Renata SA is one of the prominent construction companies based in the European Union. It is proficient in handling both private and public construction projects in the medical industry. It has recently won a contract where it will develop a project that will occupy 100 beds dedicated for the purpose by local government. The procurement budget, stakeholders, and derivatives must be examined and worked out with maximum effort for a practical, critical path. In the case study presented, will develop a project report that will discuss the real needs and requirements of the project.
The report will consist of all the project’s stakeholders, a critical path analysis, a budget, a human resource plan, and potential risks. In addition, it will entail factors that contribute success and failure of the project, critical elements of the project plan and project stakeholders, and identification of potential problems. The methodologies commonly to be used in project development include; qualitative, quantitative, and mixed methods.
Definition of Terms Used
- Project- project can be defined as a program going on either individually or in partnership and involves research and planning done by the project team. The project manager leads the project team.
- Stakeholders– project stakeholders are individuals interested in the project’s outcome. In most cases, the project stakeholders support the project, designing and planning for the best project derivatives.
- Critical path- in a project, the essential way is known to be sequences of tasks that must be attained at the end of the project. All the lessons to be completed in the critical path are known as essential activities. If these activities take too long than expected, the project will also take too long for accomplishment.
- Critical path analysis– this is a tool used in project management and needs a mapping for each task for the achievement of the project outcome.
- A Gantt chart is a bar chart used to illustrate the project schedule and all the requirements.
- WBS Chart– WBS is known as the Work Breakdown Structure, which combines all the others charts, including Gantt charts and task sheets, plus numerous features.
- Budget– budget estimates all the resources needed, the period the project will take, income, and expenses involved in the project development. It is also known as a spending plan of the project.
- Human Resource Plan– There is fitness between employees and jobs associated with human resource planning projects. Human resources surpluses are involved in this type of planning (Lutgendorf et al., 2017). Some of the major activities involved in the H.R. planning are analysis of present labor supply, forecasting of labor to be used, balancing project labor among employees, and supporting the organization’s goals.
- Potential project risks– Potential project risks are the forecasting problems that can become in the project’s progression. The risks can be detected, analyzed, and managed before their occurrences.
Project Summary
The project is an essential program that needs effectiveness and efficiency when basing its foundation towards attaining its accomplishment. For this project, maximum efforts and keenness must be adhered to for accomplishing the project derivatives (Carrasco-Ramiro et al., 2017). The project is based on a small medical structure that will hold a hundred beds that serve particular purposes. The project will need support from both the private and public departments since the outcome will benefit all the households of the given country.
Financial and human resources are the basic requirements that the sector involved must provide the necessary support. The resources being available mean that there is enough support for starting the project towards its accomplishment (Ferraris, Erhardt and Bresciani, 2019). Furthermore, the resources must be in touch with the project stakeholders who provide support until the outcome is registered. Therefore, resources must be continually present for the entire period of the project undertaking.
The critical activities of the project establishing must be done at the start of the project. In each crucial activity, period assigning must be allocated according to each significant task (Cappuccio et al., 2017). The critical path analysis is used as a guideline for each of the essential activities’ requirement. All the charts are outlined in the work breakdown schedules. In the WBS, graphs are used to produce effective project outcomes, as set by the derivatives.
In a project, budgeting must be done appropriately where all the income and revenue must be planned and properly allocated. All the critical activities must be assigned according to the essential and significance of each task in the project (De Vincentis et al., 2018). The path must be adhered to, ensure each task must be assigned enough financial resources. This action will assist in faster and quick completion of duty according to the critical path.
Human resource planning is also essential since it helps bring unity that contributes to teamwork during the project development. The H.R. plan is one of the main activities that the team manager must involve all the stakeholders according to the skills and knowledge that one has acquired (Keegan, Ringhofer and Huemann, 2018). In addition, the plan will assist in a more accessible allocation of tasks as drawn from the stakeholder’s agreement. Furthermore, the potential risks of the project development are numerous. Detecting and outlining them is one of the significant impacts the project team must come up with while accessing the project derivatives. Forecasting helps in reviewing any available way of curbing the occurrence of the risk, managing them, and mitigating all the risks.
Project Stakeholders
Stakeholders are essential for the support they give towards the project accomplishment. This project involves all the stakeholders of Reneta SA and any relevant healthcare personnel (Compton et al., 2019). The stakeholders in this project will include the Reneta SA CEO that may be the founder of the owner of this construction company. CEO must be involved and included in all the tasks that the project is entitled to. CEO gives direction what the construction company requires for it to achieve its goals (Mateo et al., 2018). CEO requires total attention from the healthcare sector for the need of designing and accomplishing the projects derivatives. CEO must also have their team supporting the project accomplishment.
The CEO team includes; Manager of the company, Board of Directors, engineers, plumbers, designers, and necessary, casual workers. The entire CEO team works together in need of accomplishing the best result from the project completion (Meloncon and Scott, 2017). This is the mutual interest that all the stakeholders must create a strong foundation and corporation to attain the best outcomes (Müller, 2017). Teamwork is the core value that adhering to it yields positive impacts upon the project derivatives.
Government is another vital stakeholder that must be available in this project. The government’s involvement is approving of the quality work in the establishment (Dheensa et al., 2018; Burton et al., 2021). Under the government, all the health associates must be included starting with; the Board of medicine, interest government departments in the healthcare sector, public health departments, and local authority health and social care services. The departments of regulation and licensing must be involved in the order to approve all legal acts and rights that must be meant for the entire project development.
When all these stakeholders come together and work together, a practical project is attained. Competency is the core guideline of this project from each individual outlined under the project stakeholders (Menon et al., 2020). Creating a solid team is the foundation value of connecting in the project environment. All the stakeholders take advantage of complying with the multiple strengths of each individual. Accountability in the project environment is another significant value that all stakeholders must adhere to and comply with.
Critical Path Analysis, Gantts Chart, and WBS Chart
Project Budget
Project Timeline
In this program, the entire work will take approximately six months and two weeks until the last task of the project completion. In each critical activity, time allocation is catered according to the significance of the functions (Eckert et al., 2018). For example, each training resource must be readily available when the project starts to ensure that there is time management (Moore, Jetty and Coffman, 2019). The stakeholders must be on the site for the entire period of project development. Since time is so vital in project development, planning correctly is something that must be done accordingly.
The budgeted amount of the project till its last task at completion is equal to 10 million Euros. In this amount, each activity’s financial resources are assigned according to the essential and the quality of materials in need (Joyner and Paneth, 2019). The resources allocated for each task are for payment of all workers involved in the project building, purchasing materials, and any other relevant need support that needs to be accomplished (Nagai et al., 2017). Having an adequate financial resource allocated for the entire project is one benefit of ensuring that project completion is attained at the right time as planned in the schedule.
Impacts of Budget Schedule
Developing a project schedule has numerous benefits for the project outcomes. One of the advantages of having a budget schedule is having power and authority of developing the program. In this position of budgeting the project team will be able to define and coordinate the roles and responsibilities of the project (Viserent et al., 2020; Wallentin et al., 2019). In addition, the definition ensures an understanding of the materials in need for the project development. Finally, reviewing more about resources is one way of ensuring accountability of financial resources being assigned for each activity.
Furthermore, budgeting is significant since it acts as a framework for the project’s existence. In the project framework, all the operations will be set in a standardized approach (Kario et al., 2017). Therefore, all budgeting is vital for benchmarking the achievements made in the progress of the project. Budgeting gives room for improving clarification towards each project stakeholder. The allocation of resources ensures that decision-making is made easier and quicker (Kowalski et al., 2019). In the decision-making process, comparative performance according to the indicators is gauged in the ongoing program. In addition, budgeting assists the stakeholders with guidelines for utilizing the available resources to complete the project. Budgeting is essential since its one way of minimizing wastage of resources while working is in progress.
Human Resource Plan
Potential Project Risks
In any program, ongoing risks are unseen and can occur at any time. Communication is one of the significant risks that can hinder the completion of the project (Ginsburg and Phillips, 2018). Communication is a risk that, if not detected at the commencing of the project, can ruin all the critical activities and hinder the termination of the project at the right time (Turnbull et al., 2018). In such cases, more resources are used and acquired since more cots risk is felt. In addition, wastage of resources is reported from the concise that poor communication risk is reported.
Damages and injuries are other operational risks that are likely to occur in the progress of the project. They occur where workers are involved in accidents while performing their daily activities of the project (Lippi and Schena, 2017). The risk of damaged and injuries can be managed by ensuring that each worker has an insurance policy. Having an insurance policy cover is one way of reducing costs that may occur in the project development progress (Visseren et al., 2021). However, this type of risk is one of the worst risks since it can affect the project operations, and thus late completion of the project is felt.
In addition, market risk is another challenge that may arise during the project progression. In the market risk, inadequate materials and resources in the field may create a challenge in the project development. Resources and materials being unavailable if a barrier that led to the delay of project completion and thus using more financial resources and human labor may result from the incident. When accessing these materials becomes a challenge, activities accomplishment is also delayed and thus uses more time.
In planning for a room construction project, it is crucial to have a risk management plan, commonly called risk assessment matrix. In so doing, Renata SA become capable of detecting and prioritizing risk by estimating their chance of occurrence. For the case under consideration, project manager can use risk matrix to mane uncertainties that are associated with the construction of a medical room. The phases of risk identification before developing a risk assessment encompasses hazards recognition, risk analysis, and evaluating risk severity. In evaluation of risk, they are graded on a scale of codes ranging from 1 to 5, whereby 1 represent-slight or none, 2-minimal, 3-significant, 4-major, and 5-catastrophe. The last stage involves assessing risk occurrence probability, which is based on codes such as 1-rare, 2-unlikely, 3-possible, 4-probable, and 5-almost certain. The risk assessment plan for the room construction project is illustrated below.
Conclusion
Developing a medical industry project is one of the essential succession the Reneta SA Construction Company will give to the community. The Healthcare sectors project is one way of ensuring universal healthcare services to each individual in the society. In this project, it has been able to come up with the relevant project summary. In summary, it tries to give the complete information that the project will work with. Examining the project stakeholders is an essential aspect of allowing any necessary support that needs the project development. All the stakeholders give supports in terms of financial resources and materials required in the project accomplishments.
In the critical path analysis, the project team can understand the type of derivatives and the program’s outcomes. Using charts is one way of simplifying data and information to understand the project derivatives better. In this part, the project team members can understand the work breakdown structure in the ongoing project. Finally, evaluating all the necessary critical activities and their requirements is another significant role defined under the critical path analysis.
Structuring a budget is essential since it helps in planning and scheduling all the critical activities of the project. Having a budget schedule is vital for the need for a framework and acquiring information from the plan. Timing is another assignment that is attained as a result of having the budget schedule plan. Allocation of resources is done under the budget schedule plan. Having a Human resource plan is another benefit drawn from the project since it helps understand each stakeholder’s role.
In addition, identifying all the potential risks that may erupt during the project progression is another benefit that helps in managing those risks. All the tasks outlined in the activities must be achieved in completing the project. Finally, positive outcomes must be reported in the completion of the project. The project will be of benefit to the local community and residents of the given country or state by impacting the medicine sector.
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