Second Assignment Document (Repaired).pdf
- 1. KARAKORAM INTERNATIONAL UNIVERSITY GILGIT BALTISTAN KARAKORAM GRADUATE SCHOOL MS PROJECT MANAGEMENT SEMESTER 2 PROJECT STAKEHOLDER MANAGEMENT ASSIGNMENT#2 Submitted to Dr. ASADULLAH KHAN Submitted By: ASIF MAJEED 2022-KIU-MS686 ARAFAT HUSSAIN 2022-KIU-MS678 ARIF MEHMOOD 2022-KIU-MS685 TAHIR ALI 2022-KIU-MS728 NAEEM ABBAS 2022-KIU-MS709 ISHFAQUE AHMED 2022-KIU-MS694 AMIR MUHAMMAD 2022-KIU-MS683 SAJJAD SHAHID 2022-KIU-MS718
- 2. 1. PROACTIVE MEASURES ADOPTED BY A CONSULTANT TO REDUCE INTERVENTIONS OF EXTERNAL STAKE HOLDERS As a consultant, I would address the client's concern about how external stakeholders might affect their project's cost and schedule. I would then outline the different ways external stakeholders can impact a project, including delays due to protests or changes in regulations or laws. Secondly, I would suggest that the Consultant perform a stakeholder analysis to identify important stakeholders and their possible impact on the project. The analysis should evaluate the stakeholders' interests, power, and potential effect on the project. Using the results of the stakeholder analysis, I would advise the Consultant and their team to create a plan to engage stakeholders and proactively manage their expectations, as well as reduce the impact of possible disruptions. This plan may involve actions like regular communication with stakeholders, anticipating potential issues and creating backup plans, and establishing a system for stakeholder input and feedback. I suggest that the Consultant and their team create a risk management plan with tactics to recognize and lessen risks linked to external stakeholders. The plan must be frequently reviewed and modified as needed to ensure the team is ready to manage any issues that might emerge. Lastly, I would emphasize the significance of sustaining a positive relationship with external stakeholders and being attentive to their concerns. This can aid in building trust and decreasing the possibility of disruptions that may affect the project's cost and schedule.
- 3. Core Modules (5) 1. Project Stakeholder Analysis and Mapping 2. Project Stakeholder Engagement and Participation 3. Communication and Conflict Resolution in Project Stakeholder Management 4. Ethics and Corporate Social Responsibility in Project Stakeholder Management 5. Stakeholder Management in International and Cross-Cultural Contexts Elective Modules (15) 1. Introduction to Project Stakeholder Management 2. The Drivers of Project Stakeholder Management and Engagement 3. Professional Project Stakeholder Management: 4. Project Stakeholder Identification Processes and Tools 5. Risk Management and Stakeholder Engagement 6. Information in the Stakeholder Analysis Process 7. Options of External Project Stakeholder 8. Project Communication Management 9. Sustainability and Environmental Management in Projects 10. Governance and Regulatory Frameworks in Project Stakeholder Management 11. Financial Management and Stakeholder Engagement in Projects 12. Construction Stakeholder Management 13. Strategies involved in Project Stakeholder Management 14. Project schedule and control 15. Project Human Resource management 2. Suggested course for project stake holder management (MSPSM)
- 4. 3. You are asked to conduct a stakeholder SWOT (Strength, Weakness, Opportunities, Threat) Analysis for a multi-billion Rupee project by a foreign entity to construct a large five-star hotel in Islamabad. The hotel will offer all the amenities normally available at its other operating locations in North America, Europe and Asia and which are of top hotel industry standard. Do this and state the assumptions you think you need to make. As a consultant, my approach to conducting a stakeholder SWOT analysis for the multi-billion Rupee project of constructing a five-star hotel in Islamabad would involve the following steps: Identify the stakeholders: In order to conduct an effective stakeholder SWOT analysis, I would first need to identify all the stakeholders involved in the project, including the foreign entity funding the project, the hotel management company, the local government, the local community, the construction company, the hotel guests, the hotel employees, and any other relevant stakeholders. Gather information: Once the stakeholders have been identified, I would gather information on their interests, needs, expectations, and potential impact on the project. This can be done through surveys, interviews, focus groups, and other research methods. Conduct the SWOT analysis: Based on the information gathered, I would conduct a SWOT analysis for each stakeholder group, focusing on the following components SWOT analysis of five star hotel in Islamabad Strengths: High profit margin Identify the positive aspects of the project that could benefit the stakeholders. The construction of a large five-star hotel in Islamabad could create job opportunities for the local community individual character of the hotel and services Unique style and individual character of the hotel and services Generate revenue for the local government and boost tourism in the region. Prime location of the hotel Full independence and flexibility, control of the associated business decision Experienced and knowledgeable staff Excellent customer service Strong brand reputation Wide range of amenities and services offered Well-maintained and updated facilities
- 5. Effective marketing and advertising strategies WEAKNESSES High setup cost Identify the potential negative aspects of the project that could cause problems or issues for the stakeholders. the construction of a large hotel could cause disruption to the local community Dependent on international tourism Increase traffic congestion, and negatively impact the environment. High employee turnover rate High cost structure Limited parking spaces Higher prices compared to competitors High price of products and services Inconsistent food quality in the hotel restaurant Outdated technology and reservation system Lack of diversity in the staff OPPORTUNITIES Identify the potential opportunities for the project to engage its stakeholders in order to achieve its goals and objectives. Local and international feeder markets The hotel management company could work with the local government to develop tourism packages and promotions to attract more guests, or offer training and development opportunities for local employees. Increase in tourism in the region Develop cross selling strategies Collaborations with local businesses for promotions and events Expansion of the hotel's facilities and services Introduction of eco-friendly practices to attract Eco-conscious customers Online marketing and booking platforms to attract a wider range of customers Partnering with popular travel websites to increase visibility and bookings
- 6. THREATS Identify the potential threats to the project from the stakeholders, including any negative influence they may exert on the project. Local and political unrest Local community members may protest against the construction of the hotel, or the local government may impose regulations or taxes that could impact the hotel's profitability. Unfavorable economic condition Economic downturns and recessions Pandemics High taxes and strong competition Natural disasters or unforeseen events that could disrupt hotel operations Changes in government regulations and policies that could affect the hotel industry Changes in consumer preferences and trends in travel and tourism. CONCLUSION In conclusion, conducting a stakeholder SWOT analysis for a multi-billion Rupee project to construct a large five-star hotel in Islamabad would require a comprehensive understanding of the stakeholders involved, as well as an ability to identify potential strengths, weaknesses, opportunities, and threats that could impact the success of the project. Making appropriate assumptions based on available information can help in conducting an effective stakeholder SWOT analysis. 4. ADVANTAGES AND DISADVANTAGES OF INFORMATION/COMMUNICATION ADVANTAGES OF ICT Communication: ICT has bind globally. Using social network from nearly anywhere in the world has offered to bring families, friends etc. together. Globalization: The world has become global village bringing down barriers geographically. It has helped countries to share idea and information with each other Financially uplift: ICT has greatly helped to restructure business organizationally. This would up lift the productivity and stream line the organization. This in turn gives more profit. Availability: ICT has turned business into automated way. Business into anytime. It gives customer the opportunity to purchase, thus makes more convenient
- 7. Bridging the gap: ICT has helped to bring people close to each other, culture, exchanges of views and ideas New job opening: ICT has open new job. Software and hardware tool analyst programmer etc. DISADVANTAGES OF ICT Unemployment: ICT has caused unemployment. The middle level jobs are vanishing due to use of ICT. Information Quality: One man disadvantage of ICT is the quality of information which is shared. The message which is desired to be sent is not received in its original content, due to manipulation. Overreliance on ICT: Due to overreliance the ability and capabilities of human resource are weaken. They cannot perform the work as desired. Information Security: Information to be shared with specific stakeholder may be shared with all stakeholders there is chance of modification, disruption or destruction.