Business Project Management

Introduction

Project management can be defined as a management process that is including a variety of different steps and procedures for analyzing and controlling relevant protocols of a specific issue or a problem that an organization or individuals face and need to find solutions for it to achieve a group of relevant goals. Project management is a process and an approach that uses methodologies and techniques for planning a project since its beginning to end in accordance to a number of goals the project is based upon. (Nagarajan, 2004) The process of project management involves a number of steps and procedures including planning, control, execution and closing stages and they can be fit to many different types of projects. Business project management is defined as a tendency for applying business management strategies and setting plans and action plans for achieving business goals. (Nicholas and Steyn, 2008) The current paper is discussing a project for Oman Shapoorji company for construction Oman explaining the project management process with a time management plan, a cost plan, work breakdown structure, change management plan and a risk management plan. The assignment is discussing the Convention and Exhibition Centre (OCEC) project and how the project was managed.  The project life cycle 4 Ds are discovering, designing, developing and deploying the project. (Westland, 2007).

Body

Time management plan

Iland, (2013) discussed time management planning and how it is important for business management, he referred that it has steps and stages as it begins by defining the project goals then listing the tasks and jobs required for achieving the goals then enlisting the mini tasks under each job or main tasks and jobs should be ordered according to their importance and priority and finally timelines should be listed and steps of tasks should be explained in detail.

Gnnat Chart

Oman Shapoorji

Convention and Exhibition Centre (OCEC) project

Objectives

2016

2016

2017

2017

A

Project Objectives

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

April

May

June

1

Constructing package 3 of Oman Convention and Exhibition Centre

1.1

Making foundation works

1.2

makingthe electrical as well as pluming jobs.

2

Delivering the work on time & with specifications.

2.1

working along with time schedules

2.2

monitoring work application

3

Making sure of safety and security

3.1

ensuring electrical works, plumbing, painting and finishing

3.2

matching the amounts and materials with specifications

4

Working with a prescribed budget

4.1

Allocating money on tasks

4.2

monitoring tasks performance with money allocation

B

IP/Commercialization Strategy

1

Goal1: Achieving profits for the company.

2

Goal 2:Reaching higher revenues than before

3

Goal 3: Improving financial situation

C

Regulatory Strategy

1

Goal 1: Initial Regulatory Planning

2

Goal 2:meeting considerations

3

Goal 3: Regulatory exact Submission

D

Follow on Funding Plan

1

Making a Business Plan

2

Following a Funding Plan steps

3

Engaging a Commercial partner or partners

4

evaluating the plan after applying

The Gnnat chart explains how the project is going on and how tasks and jobs are set according to goals as the project objectives are constructing a package of three of Oman convention and exhibition centers, delivering work on time, making sure of safety and security and working with a prescribed budget. The chart shows that the project works according to a set of strategies such as IP/ commercialization strategy and regulatory strategy in addition to a funding plan for scheduling money allocation.

Matrix chart

Architects	engineers	Consultants	Contractors	Workers
Making the designs of the project	Making sure of materials and specifications according to designs	Making Financial allocations such as cost plans.	Making contracts with owners.	Do the construction different tasks according to engineers' orders.
Supervising the designs' execution	Giving orders to workers	Making schedules and budgets	Giving orders to workers with the aid of engineers	Making works of building, painting, plumbing …etc.
Giving advice for application	Making sure of materials allocations	Ensuring safety and security on sites and supervising work and giving advice.	Monitoring workers and amounts of materials.	Following orders of their bosses.

Cost plans

According to Gerstel, (2002), cost plans are made for identifying the costs of a project and they are made by financial consultants to set different costs along with the project and how contracts can deal with financials of the project. They are helpful in managing budgets, money allocation and in making effective execution of the project according to the budget.

Project's cost plan

Tasks	Budget
Construction works	30.000.000$
Employees' payments	5.000.000$
Electricity works and plumbing works	4.5.000.000$
Accessories	3.000.000$
Total	42.5.000.000$

The company has prepared costs in a way that ensures profits to it as it was expected that the project will make a reasonable profits after the right money allocation as the money was allocated to cover construction works, employees; payments, different works and accessories to be 42.5.000.000$ but profits were estimated by 65.000.000 which means a net profit of 23.000.000$.

Work breakdown structure

According to Brotherton et al, (2008), a work breakdown structure (WBS) is a structure for the work divisions and tasks and it is used in construction works and other works to show the process of project management and how the engineering processes are going on in relation to percentages of dividing the budget according to the importance of each task. It depends on dividing work missions on smaller units and components in order to organize the different teams running the work and it is a hierarchical decomposition of the general overview of the project to be carried out by different teams of the project in order to meet the objectives and goals of the project. The work breakdown structure may contain elements that can be either services, products or even data or to gather all different types of tasks. It can also give the project detailed percentages of costs estimations and how budget is allocated on each mission and task. It is used for guiding the project towards achieving details of the works and it can be useful for engineers and consultants as well at the same time and it is helpful in allocating resources and dividing works on worker through using the time schedules with deadlines. 

The current project of constructing package 3 of Oman Convention and Exhibition Centre depends on a WBS that divides work on three main streams which are internal works, foundation works and external works dividing the 100% budget into three main parts on them to make internal works have 50%, external 255 and foundation works 25% as each of them is classified to include minor jobs and tasks with different percentages of the budget as shown in the figure.

Change management plan

Change management plan is a plan for managing any changes and facing any challenges that may occur during the execution of the project and applying its processes and it can document and focus on the needed information for managing the project changes till it is delivered to the client effectively. The change management plan is made in the project's planning stage as it focuses on works done by the project managers, team work, the sponsors of the project and leaders who give advice and support during the execution of the project in order to achieve the plan effectively. Change management process makes the procedures of the project are effective and orderly for monitoring its submission and evaluation processes as this helps managers approve to release the changes to the project during work. (Lorenzi and Riley, 2000)

Change management plan

Project name: Constructing package 3 of Oman Convention and Exhibition Centre

Introduction: the project may need to change some employees shifts, some main tools used for the construction process and add new tasks.

Project sponsors: the Omani government

Project objectives: constructing a package of three of Oman convention and exhibition centers, delivering work on time, making sure of safety and security and working with a prescribed budget.

Change objectives: Improving the results of the work, delivering work on deadlines and improving the HR work capacity.

Change plan elements: new more workers-more money-different shifting system-adding new tools and equipments.

Rational for the change: enhancing the work capacity.

Stakeholders analysis: employees and other stakeholders may find it good for them to make such changes but the sponsors may find difficulty in adding new money to the budget.

The table shows that changes may be in adding new more workers, more money, more equipment and changing shifts of engineers in order to increase the effectiveness of work and how stakeholders may react to changes as for example, sponsors may not agree on adding more money to the budget.

Risk management plan

A risk management plan is a plan for managing the potential risks a project may face and to define reactions to such risks and how to deal with them. Managers are the employees who set such plans by identifying risks and analyzing them. (Carpenter, 2010) Risks may be of positive or negative impact on the project and they should be tackled with by project management that assesses them and find solutions for them as risks may be avoided, controlled, mitigated or managed according to the type and effect of each risk on the project. A risk management plan can reduce errors that may occur during executing the project and can lead to better outcomes. (Inhofe, 2001)

Risk management plan

	Risk	Outcome	Current treatment actions	Proposed treatment actions
1	Loss of materials	Lack of effective work and lack of specification application.	Avoiding material loss by strict monitoring systems.	Adding new materials by buying them.
2	Budget is not enough	Work will not be done as asked.	Making an accurate financial plan.	Adding new elements to the budget.
3	Some employees turnover	Work will be delayed and not delivered on deadlines.	Making strict contracts with employees.	Bringing more workers.
4	Safety accidents	Reputation of the project will be affected. Employees may leave the project.	Ensuring safety measurements.	Bringing new equipments that ensures higher safety levels.

The table shows how the project managers can deal with the potential risks such as loss of materials, not enough budget, employees turnover and safety accidents as the current solutions may not be enough for dealing with the risks which makes managers give potential solutions for the risks to face them and deliver the work on deadlines according to specifications.

Conclusion

In conclusion, it is important to refer to project management and how it should be done according to what is needed from a project and that there are many elements that should be considered when managing a project such as planning, facing challenges and risks and controlling the budget and financials. Oman Shapporji is executing a project for Constructing package 3 of Oman Convention and Exhibition Centre and is depending on managing the work effectively as there is a time management plan that has main three goals which are constructing a package of three of Oman convention and exhibition centers, delivering work on time, making sure of safety and security and working with a prescribed budget so the project can be done according to the gnat chart. The project has a cost plan where costs are estimated according to the different tasks of the project and profit is estimated after costs. The work breakdown structure gives an idea about the tasks and mini tasks involved within the project which are main three and have minor ones with different set percentages of budgets. The project has a change management plan that focuses on basic potential changes the project may have to improve it and a risk management plan that provides current and potential future solutions to face and avoid different risks that the project may face and can lead to loss or delay of the project.