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Stakeholders & Communications Management, Financial management &…
Stakeholders & Communications
Management
Stakeholder Analysis
Definition
A stakeholder analysis is a process of identifying these people before the project begins;
grouping them according to their levels of participation, interest, and influence in the project;
and determining how best to involve and communicate each of these stakeholder groups throughout
Types of stakeholders
External
Customers
Government
Suppliers
Communities
Internal
Project team
Internal clients
Executives
Project sponsors
Who are stakeholders?
Anyone who has an IMPACT on or will be IMPACTED by the project
Some stakeholders have GREATER influence on the project
Some will be GREATLY influenced by the project
( Project manager is the middle man, they communicate with those who influence project and those who are influenced by it )
Stakeholders will need to be INDIVIDUALLY communicated too
Stakeholders are parties that have an interest in a company and can either affect or be affected by the business
Stakeholder Analysis
Provides template to identify stakeholders involved in project and
explicitly
highlight their roles and impact on project
Project Communications
Emails, calls, documents, meetings and presentations
Schedule
Scope of communication and format
Sender and receiver, responsibility and authority
Retrieval, storing and disaster recovery
Confirmation of message, receiving and understanding
Key Role
Project manager's duty
Manage communication to save time effectively
They spend 90% of their working time engaging in forms of communication
Generation, collection, dissemination, storage and disposal of project information
Maintaining of all communication links
Inside the company
Outside the company
Contractors
Suppliers
Clients
PMBOK definition of project communication management
the process required to ensure timely and appropriate genration, collection, dissemination, storage and ultimately disposal of porjecty information.
providing critical links among the people, ideas and information necessary for success.
Methods of Communication
WHY
to
establish a system
which ensures the
correct party receives the correct information
as the project progresses
ensure communication objectives are met
Communicate the
goals of the project to all team members
& ensure that they understand their objectives & responsibilities
Establish their
commitment & enthusiasm
for the project
Establish your
leadership as the Project Manager
& ensure that the team follows you
Be clear about critical
deadlines & phases
Review the schedule
Be clear about
reporting requirements, meetings & ongoing communications
Give
explicit instructions
to proceed with the project
WHAT
Written Communication
messages, orders or instructions in writing through letters, circulars, manuals, reports, telegrams, office memos, bulletins
Electronic Communication
computers, phones, email and video
Visual Communication
animated GIFs, screenshots, videos, pie charts, infographics, and slide deck presentations.
Verbal Communication
the use of words spoken by mouth to convey a message
Body Language
facial expressions, body posture, gestures, eye movement, touch and the use of space.
Project Communications Plan
Project team/progress Meetings
WHY
Information sharing
- exchange of data
Problem-solving
- brainstorming, generating ideas, options & alternatives
Evaluation
- monitoring, measuring, reviewing & forecasting
Decision-making
- select a course of action, gain commitment from the team
Planning
- what, who, when, how, where & why
Allow the Project Manager to co-ordinate, integrate and manage the stakeholders
WHEN
Generally
held every week
to
monitor progress & guide
the
project to a successful completion
WHAT
Minutes
: Approved minutes from previous meeting
Progress
: report progress
Configuration Management
: discuss scope changes & concessions – their implications & approval
Document Control
: list controlled documents transmitted
Claims
: Discuss any claims since the last meeting
Quality
: discuss quality issues
Payments
: approved invoices for payment
WHO
Project Manager
Architect
Designer
Consultants
Main Contractors
Sub Contractors
Property/ Facility Manager
Client
Communication Network Diagram
WHAT
A communications network diagram is a
method of visualizing
who you need to communicate with about a particular
task.
Financial management & cost control
Types of Budgets
Budgetary Control
Weekly, monthly and state year-to-date figures
analyze differences and take corrective action
Difference between actual cost and budget cost
Overrun of budget
Increase in scope of work
Inefficient organization and planning of work
Tender in excess of the estimates
Revised Planning
Revising the budget to keep up with the progress of programmes
Costs might be lower or higher
Unplanned or unforeseen works
Disinfecting Ngee Ann Polytechnic's campus because of Covid-19 or Sars
Work may be behind or ahead of time
Actions to be taken
Examine why work was not on schedule,
Determine remedial action
Determine if original resources need to be revised
Long Term Forecasting for Repairs & Maintenance
Points to consider
Balance demands with constraints
Avoid waste of financial resources
Systematic analysis of needs and demands
5.Develop a budget system:
Adequate measurement can be obtained
Sets work standards
Performance deviations can be easily seen
Identify future opportunities
Understand objectives
What is a budget
planned forecast of future income and expenditure (usually annually but can be for any period of time)
Capital budget
Capital expenses
upgrading works
Replacement of M&E equipment
Administrative budget
Overhead costs, staff, no. of positions
staff salary
company's car
Operational budget
Operating expenses
Cleaning
Maintenance
Security
Life Cycle Costing
Steps In Life Cycle Costing
Who
What
How
When
Feedback
Filling
