CASE STUDY

Note: In developing your answers you can make any assumptions you wish, provided

these are reasonable, do not contradict the content of the case study and are clearly

written down.

Assume you are a professional project manager working for Green Energy Solutions

(GES). Your Programme Director summoned you to their office and handed you the

following brief for a new project that you have been appointed to lead.

Project Charter: Solar Power Plant Installation

Project Overview:

Green Energy Solutions (GES) is a global leader in providing sustainable energy

solutions. Headquartered in Germany, GES specialises in the development,

installation, and management of large-scale solar power plants. GES has embarked

on a large-scale project to install two new solar power plants across two countries, as

part of the European Union’s ‘Green Future’ vision to reach 250 Gigawatt of solar

capacity by 2030.

Project Objectives:

  • Reduce fossil fuel usage by 15%.
  • Provide sustainable energy to remote areas with limited infrastructure.
  • Ensure the solar power plants are close to the areas of consumption to minimise

transmission losses.

Project Details:

  • Location: Site ‘A’: Belgium. Site ‘B’: Latvia.
  • Timeline and Budget: As stipulated in contract.
  • Technology and Equipment: State-of-the-art solar panels, inverters, and battery

storage systems.

  • Capacity: 0.65 Gigawatt.
  • Allocated human resources: 2,500.

Stakeholders:

  • Internal: Includes senior management, sponsoring Programme Director, project

manager, legal department and change control section. The internal team will be

drawn from the main functional departments within GES, including Production,

Human Resources, IT Support, and Research and Development. They will prepare

the initial project specifications and later lead and monitor the project.

  • External: PM Consultant firm, which acts as the main point of communication.
  • Main Contractor: SolarTech Installations Ltd.
  • Sub-contractors:

– ElectroConnect [nominated]: Responsible for electrical installations.

– EcoFencing: Handles frame-construction and security installations.

– SunSupply: Supplies solar panels and inverters.

– PowerStorage: Provides battery storage systems.

  • Consultants:

– SafePower: Safety and compliance consulting.Page 3 of 6

– CostWise: Cost consulting.

  • Inspection and governance: National Energy Regulatory Authority (NERA)

inspects and provides compliance certification.

  • Utility Providers: Local utility companies responsible for grid connection and water

supply.

Project Structure:

  • Internal Reporting: The internal project manager (IPM) reports directly to the Head

of IPM and is accountable to the Project Sponsor. The Project Sponsor has

executive authority over all project managers and functional managers.

  • Change Control: Managed by the internal Change Control Section that reports

directly to the Project Sponsor. All change requests are processed through the

external PM, who then communicates with the internal interface function. The legal

department issues and administers all contracts.

  • Legal Services: Operates independently and reports directly to the GES Senior

Management Team.

Monitoring and Reporting:

  • Internal Monitoring: Conducted by the internal project team, which prepares regular

progress reports.

  • External Monitoring: The external PM consultant provides updates and coordinates

with the internal team.

Communication and Change Control:

  • Communication Flow: External stakeholders communicate with the external PM,

who then liaises with the internal interface function. Internal decisions are

communicated back to the external stakeholders through the same channel.

  • Change Control Process: Requests are submitted to the external PM, who

communicates with the internal interface function. The legal department and

change control department review and approve changes.

Success Criteria:

  • Meeting the contractual deadline.
  • Maintain appropriate EVA values, within allowed quality boundaries.
  • Achieving the project objectives (fossil fuel reduction, energy provision to remote

areas).

  • Compliance with regulatory requirements.
  • Minimal impact on wildlife in the project area.
  • Engage the wider community affected by the project.
  • Employ at least 10% local workforce.

Main strategic uncertainties:

  • The future direction of energy policies and regulations is unpredictable, which could

affect subsidies, tax incentives, and overall project profitability.

  • Market dynamics and consumer preferences for energy sources can shift rapidly,

influenced by technological advancements, price changes in fossil fuels, and public

sentiment towards climate change.

  • The pace of innovation in renewable energy technology is unpredictable, and

newer, more efficient technologies than solar panels could emerge, necessitating

further investment and upgrades.Page 4 of 6

  • Economic and geopolitical conditions are inherently volatile and can affect the

availability of capital, interest rates, and the cost of imported materials, influencing

the project’s financial stability.

Required:

Question 1

(a)

Making any reasonable assumptions and suggesting any additional

stakeholders of your choice, design and illustrate a suitable Organisational

Breakdown Structure (OBS) to represent a project organisational structure

showing all communication, authority and contractual linkages and explain the

rationale behind your choice of types of contracts and any additional

stakeholders and the design.

(15marks)

(b)

Discuss and illustrate the project positioning using the NTCP model.

(10 marks)

(Total 25 marks)

Question 2

(a)

Apply your knowledge of project risk management to identify and analyse five

potential project risks. Illustrate the risks using a risk map. Suggest mitigation

strategies for each identified risk.

(10marks)

(b)

The project includes a Change Control Section. Discuss the role of this function

in managing project risks and how it contributes to the overall success of

projects. Support your answer with appropriate examples from the context of

the case study.

(15 marks)

(Total 25 marks)

Question 3

(a)

One of the project’s success criteria is compliance with regulatory

requirements. This is expected as the project spans along two countries (with

their own regulatory requirements) and is also subject to the National Energy

Regulatory Authority (NERA)’s inspection.

Discuss how compliance impacts the project timeline and what actions can be

employed by the project manager to ensure timely compliance.

(10 marks)

(b)

Discuss the key challenges you might face as an Internal Project Manager

when coordinating between the internal and external environment in the context

of the case study.

(15 marks)

(Total 25 marks)Page 5 of 6

Question 4

Assume the Solar Power Plant Installation project is already in its execution stage.

Refer to Tables 1 & 2 below, showing the actual cost and schedule performance of

four teams on one of the project work packages.

Note the target output and cost figures given. They cover the first 5 months of the

package. Each team is working at a planned rate of 10 tasks per month over 10-

months total period. Each task has an estimated cost of €15,000.

Table 1

Output performance for Teams 1, 2, 3 and 4

Output performance for Teams 1, 2, 3 and 4

Output performance for Teams 1, 2, 3 and 4

Table 2

Output performance for the Work Package

Output performance for the Work Package

Output performance for the Work Package

(a)

Comment on the performance of each team and on the performance of the work

package as a whole over the 5-month period. Support your analysis using

additional EVA variables and appropriate illustrations.

(10 marks)

(b)

Describe how you would apply project management good practices to ensure

that the project stays within budget.

(15 marks)

(Total 25 marks)

TOTAL 100 MARKS

论文代写范文1:

Question 1

(a) Organizational Breakdown Structure (OBS)

Assumptions.

Additional stakeholders include local government representatives, environmental agencies, and community groups.

The project will adopt a matrix organizational structure, which can facilitate effective communication and control.

Organizational Breakdown Structure.

Project Sponsor

Executive authority over the project.

Ensures alignment with strategic objectives.

Internal Project Manager (IPM)

Reports to the Project Sponsor and Head of IPM.

Manages the internal team and coordinates with external stakeholders.

Head of IPM

Supervises IPM and ensures project alignment with company policies.

Internal Team

Production Department(Oversees manufacturing and production-related tasks).

Human Resources Department(Manages staffing and workforce-related issues).

IT Support Department(Ensures technological support and infrastructure).

R&D Department(Provides research and development insights).

External PM Consultant Firm

Acts as the main point of communication with external stakeholders.

Main Contractor. SolarTech Installations Ltd.

Oversees the installation of solar power plants.

Sub-contractors

ElectroConnect(Electrical installations).

EcoFencing(Frame-construction and security installations).

SunSupply(Solar panels and inverters supply).

PowerStorage(Battery storage systems supply).

Consultants

SafePower.(Safety and compliance).

CostWise(Cost consulting).

Inspection and Governance

National Energy Regulatory Authority (NERA)(Compliance certification).

Utility Providers

Local utility companies for grid connection and water supply.

Rationale for Contract Types.

Rationale for Contract Types.

Contract TypeUsed forRationaleExample
Fixed-Price ContractsWell-defined tasks with clear deliverablesControls costs by setting a fixed price for specific tasks, reducing financial risk for the projectContracts with SunSupply for the supply and installation of solar panels, where the scope and deliverables are well-defined
Cost-Reimbursement ContractsTasks with high uncertainty where scope may changeProvides flexibility in managing costs, allowing adjustments as the project progressesEngaging SafePower for safety and compliance consulting, where the extent of work may vary based on ongoing safety audits and findings
Time and Materials ContractsTasks requiring flexibility in scope and durationAllows for adjustments in labor and materials costs based on actual usage, accommodating project needs as they evolveHiring local contractors for utility connections, where the exact requirements may vary depending on site conditions and project progress

 

(b) Project Positioning Using the NTCP Model

The NTCP (Novelty, Technology, Complexity, and Pace) model mainly helps locate projects by evaluating these four dimensions.

Novelty.

Type. Platform

Description.

  • This project installs the most advanced solar technology. This project is positioned as a novelty of the “platform”.
  • Although solar power plants are not a very novel concept and have appeared a long time ago, the technologies currently used in this project, such as new solar panels, inverters, and battery storage systems, are the latest and most cutting-edge solutions, making substantial breakthroughs in previous installations.Technology.

Type. High-Tech

Description.

  • The project adopts the most advanced technology, including high-efficiency solar panels, complex inverters, and modern battery storage systems. The reliance on cutting-edge technology may lead to technological uncertainties, such as implementation and integration issues.
  • In addition, it is necessary to train talents with professional skills and knowledge to complete the installation and continuous maintenance of the project. This will greatly increase the complexity of the project, and any shortage of personnel or inadequate technology is also a risk.
  • But high-end technology can bring higher efficiency and better performance.

Complexity.

Type. System

Description.

  • The project spans two different locations (Belgium and Latvia), and each location requires integration of various systems, including solar panels, inverters, and battery storage.
  • Managing internal teams (such as production, human resources, IT, and R&D) and external stakeholders (contractors, consultants, regulatory agencies) involves a high level of complexity in integration and collaboration. Detailed planning and communication are required among various teams and departments to ensure that all parts work together harmoniously.

Pace.

Type. Regular

Description.

  • Although the pace is very regular, it is currently urgent to achieve the EU’s “Green Future” vision, which aims to achieve 250 gigawatts of solar power by 2030. This leads to an increase in the time sensitivity of the entire project.
  • Clear timelines and budget requirements mean that the entire project needs to strictly adhere to the schedule to avoid delays and cost overruns. Any deviation or interruption will affect the success and strategic goals of the project.

 

Question 2

(a) Project Risk Management

Identified Risks and Mitigation Strategies.

RiskDescriptionMitigation Strategies
Regulatory ChangesUnpredictable changes in energy policies and regulations impact project timelines and costs.
  • Engage with regulatory agencies in the early stages of a project to understand potential changes and maintain ongoing communication.
  •  Implement a strong compliance monitoring system to ensure timely compliance with all regulatory requirements.
  • .Prepare to make necessary adjustments to the project plan based on regulatory updates.
Technological AdvancementsThe emergence of more efficient solar technology could render current technology obsolete.
  • Allocate a contingency budget specifically for technology upgrades.
  • Regularly monitor industry trends and advancements to anticipate changes.
  • Design the project with flexibility to incorporate new technologies as they become available.
Supply Chain DisruptionsDelays in the delivery of critical components like solar panels and battery storage systems.
  • Establish strong relationships with multiple suppliers to diversify the supply chain.
  • Maintain buffer stocks of critical components to cushion against delays.
  • Develop flexible project schedules that can accommodate supply chain variability.
Economic VolatilityFluctuations in currency exchange rates, interest rates, and material costs can impact project budgets.
  • Use financial hedging strategies to manage exchange rate risks.
  • Conduct regular budget reviews and adjust for changes in economic conditions.
  • Implement strict cost management practices to control project expenses.
Environmental ImpactThe project may negatively affect local wildlife and ecosystems.
  • Conduct thorough environmental impact assessments before project initiation.
  • Implement measures such as wildlife corridors and protective barriers to minimize environmental disruption.
  • Continuously monitor environmental impact and adjust practices as necessary.

 

Risk Map.

RiskProbabilityImpactMitigation Strategy
Regulatory ChangesHighHighEngage with regulatory bodies early and monitor compliance.
Technological AdvancementsMediumMediumAllocate a contingency budget and stay informed about industry trends.
Supply Chain DisruptionsHighHighEstablish strong supplier relationships and maintain buffer stocks.
Economic VolatilityMediumHighUse hedging strategies and conduct regular budget reviews.
Environmental ImpactLowMediumConduct environmental assessments and implement mitigation measures.

(b) Role of Change Control Section in Managing Project Risks

1. Record change requests. CCS ensures that all change requests are recorded, for example, if there are change requests for updated and more efficient solar panels, detailed records are required as a strict audit trail. These contents can also be referenced throughout the entire project lifecycle.

2. Evaluate project changes. In the face of unavoidable changes, CSS should promptly evaluate the changes that occur during the implementation process, assess the impact of project changes on implementation content, progress, and cost, and analyze the rationality and necessity of these changes. A detailed and comprehensive analysis of functional requirements should be conducted before project implementation to avoid changes in system functional requirements during the implementation process. If changes are to occur, they should be made as early as possible. The later the changes occur, the greater the changes in cost, schedule, and quality, and the greater the risks. There are many ways in which project costs increase, including production costs, quality costs, and management costs. Lack of efficiency and even incorrect change management can easily lead to an increase in various costs. This only points out some situations where the identified costs have actually increased, but this is only the tip of the iceberg. There may still be some processes and activities that have led to cost increases that have not been identified. In addition, in cases where these identified costs increase, they are usually also

3. Make decisions and handle changes based on the analysis results, determine how to handle project changes, and design different handling plans according to the magnitude of the impact of the changes. For changes that have a significant impact on the project, a dedicated project change handling team should be established to effectively handle these changes. If the impact of the changes is not significant and only a small amount of resource allocation is needed to complete the project change, there is no need to make major changes. At the same time, due to the inevitable impact of project changes on other implementation contents, corresponding countermeasures and adjustments should be made to avoid the obstruction of project implementation caused by project changes.

3. The process of project change must be standardized. Firstly, a project change confirmation letter should be prepared, which should be signed by the project leader of the implementation consulting or system supplier and the project leader of the enterprise, so that the leaders of both parties can confirm the content of the project change. Secondly, it is necessary to account for the impact of project changes on the implementation schedule and cost, so that both parties can reach an agreement on these two aspects and avoid shifting responsibilities to each other when problems arise in the future. Finally, it is necessary to clarify in advance whether project team members have the authority to submit change requests and who the implementing party has the authority to accept changes, and to control the number of people on both sides. A standardized change handling process will enable timely and effective handling of project changes.

 

Question 3

(a) Compliance Impact on Project Timeline

The impact of compliance.

Regulatory compliance is an important aspect of project management, typically found in large-scale projects such as the installation of solar power plants in green energy solutions (GES). Regulatory requirements will have a significant impact on project timelines.

Mainly due to the following factors, complying with regulatory requirements will have a significant impact on the project schedule

  1. Check and approve. Regular inspections, approvals, and certifications from regulatory agencies may result in delays. And each stage of the project may also require specific compliance checks, so if any inappropriate matters arise during the arrangement

Specific compliance checks may be required, and if not arranged properly, it may hinder progress.

  1. Penalty for delay. Failure to obtain the necessary compliance certificates on time may result in project delays and potential penalties, ultimately affecting the overall project budget and timeline.

Ensure timely and compliant actions

  1. Early participation

Contact regulatory agencies as soon as possible. Communication can be established with regulatory agencies such as the National Energy Regulatory Agency (NERA) at the beginning of the project.

The project team is able to understand and obtain specific requirements and timelines for necessary approvals. For example, during the planning phase, meetings can be held with NERA representatives to further discuss the compliance requirements of solar power plants in Belgium and Latvia, which can to some extent align the project plan with regulatory expectations.

  1. Regular monitoring

Continuously monitor compliance requirements. Implement a system for regularly monitoring compliance requirements throughout the entire project lifecycle.

This includes tracking any changes in regulations that may affect the project. For example, regular compliance audits can be arranged to ensure consistent compliance with various aspects of the project, such as security protocols and environmental standards.

  1. A dedicated compliance team

Establish a dedicated compliance team. This article argues that forming a team specifically responsible for ensuring regulatory compliance can better alleviate the burden on project managers and allow for dedicated attention to compliance issues. For example, appointing a compliance officer, whose main responsibility is to coordinate and manage all compliance related activities with regulatory agencies.

  1. 4. Documents and reports

Maintain comprehensive documentation. Detailed records of all compliance activities including inspections, approvals, and certifications. At the same time, detailed compliance reports should be provided to relevant authorities on a regular basis to demonstrate compliance with regulations throughout the entire project process.

For example, detailed records of safety inspections and environmental assessments should be kept, and complete and detailed reports should be regularly submitted to NERA and other relevant agencies.

  1. 5. Emergency plan

Develop a compliance delay emergency plan. An emergency plan can be developed to predict potential delays in obtaining regulatory approval, which can buffer time into the project schedule and better adapt to these delays. For example, allocating additional time specifically for unforeseeable regulatory changes in the project schedule allows for necessary adjustments to be made without causing significant disruptions to the project.

(b) Challenges in Coordinating Between Internal and External Environments

Key Challenges.

ChallengeDescriptionSolutionExample
Communication GapsIf not managed properly, coordinating communication between internal teams and external stakeholders can lead to misunderstandings and misalignment.Establish clear communication protocols and schedule regular meetings to ensure consistent and transparent communication among all parties.Weekly status meetings involving both internal and external teams help address any issues promptly and keep everyone aligned with project objectives.
Cultural DifferencesDifferent organizational cultures between internal teams and external contractors can create conflicts and hinder collaboration.Foster a collaborative culture through team-building activities and joint workshops to bridge cultural gaps and enhance mutual understanding.Organizing joint workshops where internal team members and external contractors collaborate on key project aspects helps build a cohesive team environment.
Alignment of ObjectivesEnsuring that internal and external stakeholders have aligned project objectives can be challenging, especially when different parties have varying priorities.Regularly review and align project goals through joint planning sessions to ensure all stakeholders are working towards the same objectives.Conducting quarterly review sessions where internal and external stakeholders come together to revisit project goals and make necessary adjustments ensures alignment.
Contract ManagementManaging multiple contracts with various external parties can be complex and time-consuming, increasing the risk of contractual disputes and mismanagement.Utilize a robust contract management system and ensure that there is adequate legal support to manage contracts effectively.Implementing a centralized contract management system that tracks all contractual obligations and deadlines helps minimize risks and ensure compliance with all terms.
Resource AllocationBalancing resource allocation between internal departments and external contractors can be difficult, leading to potential resource shortages or overallocation.Implement a comprehensive resource management plan that prioritizes tasks based on project needs and ensures optimal allocation of resources.Developing a resource management plan that clearly outlines resource needs for each phase of the project and regularly reviewing resource allocation to address any imbalances ensures efficient use of resources.

 

 

Question 4

(a) Performance Analysis of Teams and Work Package

Team Performance Analysis.

Team 1.

  1. Month 1.AC = €150,000, EV = €150,000, PV = €150,000, CV = €0, SV = €0
  2. Month 2.AC = €300,000, EV = €300,000, PV = €300,000, CV = €0, SV = €0
  3. Month 3.AC = €450,000, EV = €450,000, PV = €450,000, CV = €0, SV = €0
  4. Month 4.AC = €600,000, EV = €600,000, PV = €600,000, CV = €0, SV = €0
  5. Month 5.AC = €750,000, EV = €750,000, PV = €750,000, CV = €0, SV = €0

Comment. Team 1 maintained excellent performance, achieving planned output and cost targets on a monthly basis without any cost or schedule variances.

Team 2.

  1. Month 1.AC = €120,000, EV = €135,000, PV = €150,000, CV = €15,000, SV = -€15,000
  2. Month 2.AC = €160,000, EV = €255,000, PV = €300,000, CV = €95,000, SV = -€45,000
  3. Month 3.AC = €250,000, EV = €360,000, PV = €450,000, CV = €110,000, SV = -€90,000
  4. Month 4.AC = €350,000, EV = €465,000, PV = €600,000, CV = €115,000, SV = -€135,000
  5. Month 5.AC = €450,000, EV = €570,000, PV = €750,000, CV = €120,000, SV = -€180,000

Comment. Team 2 initially performed poorly. But over time, the cost-effectiveness of this team has improved, with a positive CV. However, a negative SV indicates that they have been consistently behind schedule.

Team 3.

  1. Month 1.AC = €120,000, EV = €105,000, PV = €150,000, CV = -€15,000, SV = -€45,000
  2. Month 2.AC = €280,000, EV = €225,000, PV = €300,000, CV = -€55,000, SV = -€75,000
  3. Month 3.AC = €370,000, EV = €360,000, PV = €450,000, CV = -€10,000, SV = -€90,000
  4. Month 4.AC = €530,000, EV = €525,000, PV = €600,000, CV = -€5,000, SV = -€75,000
  5. Month 5.AC = €750,000, EV = €750,000, PV = €750,000, CV = €0, SV = €0

Comment. Team 3 encountered issues in maintaining cost targets, resulting in a negative CV and initially encountering difficulties in adhering to the schedule. But by the fifth month, they had improved.

Team 4.

  1. Month 1.AC = €150,000, EV = €150,000, PV = €150,000, CV = €0, SV = €0
  2. Month 2.AC = €300,000, EV = €300,000, PV = €300,000, CV = €0, SV = €0
  3. Month 3.AC = €540,000, EV = €495,000, PV = €450,000, CV = -€45,000, SV = €45,000
  4. Month 4.AC = €760,500, EV = €720,000, PV = €600,000, CV = -€40,500, SV = €120,000
  5. Month 5.AC = €990,000, EV = €945,000, PV = €750,000, CV = -€45,000, SV = €195,000

Comment. Team 4 has performed exceptionally well, consistently exceeding the planned output. But their costs were higher than planned, resulting in a negative CV. But due to early execution, SV remains positive.

Work Package Performance Analysis.

  • Month 1.AC = €540,000, EV = €540,000, PV = €600,000, CV = €0, SV = -€60,000
  • Month 2.AC = €1,040,000, EV = €1,080,000, PV = €1,200,000, CV = €40,000, SV = -€120,000
  • Month 3.AC = €1,610,000, EV = €1,665,000, PV = €1,800,000, CV = €55,000, SV = -€135,000
  • Month 4.AC = €2,240,500, EV = €2,310,000, PV = €2,400,000, CV = €69,500, SV = -€90,000
  • Month 5.AC = €2,940,000, EV = €3,015,000, PV = €3,000,000, CV = €75,000, SV = €15,000

Comments.

Overall performance. The work package shows a positive cost variance (CV), indicating cost efficiency. However, the initial variance (SV) of the plan was negative, indicating the presence of delays. Of course, performance improved over time and became positive in the fifth month.

 

(b) Applying Project Management Good Practices to Stay Within Budget

The budget management and control of a project often become a critical factor in its success or failure, and also have a direct impact on the social benefits it brings. Control management and project budget are integrated throughout the entire construction process of the project. Funds serve as the support for project advancement, and the design and implementation of budget and control systems are the foundation for enterprises to grasp the true situation of projects, calculate project investment returns, and are also necessary conditions for the survival and development of enterprises.

Relevant project management practices can be applied to ensure that solar power plant installation projects can achieve their financial goals while maintaining quality and schedule objectives.

  1. Regular monitoring and reporting

Regularly conduct performance evaluations and Earned Value Analysis (EVA) to identify differences as early as possible. Monthly performance reports can be implemented to provide detailed analysis of prominent cost variance (CV) and schedule variance (SV) indicators. The biggest benefit of these reports is that they help monitor cost and schedule performance, enabling early detection of any deviations from the planned budget and schedule. Comparing actual cost (AC), earned value (EV), and planned value (PV) can be very helpful in evaluating whether a project is proceeding as planned. If CV is negative, it means cost overrun, so team members need to investigate the reason and implement cost saving measures. Negative SV means that project members need to address related delay issues to ensure that the entire project proceeds as planned.

  1. Cost control measures

Implement strict cost control measures, including budget tracking and expenditure review.

Project members can use project management software for real-time budget tracking, which benefits from continuous monitoring of all expenses and, most importantly, ensures that funding is allocated within the budget range. Because such software can mark unapproved expenses or deviations from the budget, allowing project members to take corrective measures before deviations escalate.

  1. Resource optimization

Optimizing resource allocation ensures effective utilization of both human and material resources.

The project manager needs to implement a resource balancing strategy, which has the advantage of avoiding over allocation while ensuring that resources are effectively utilized.

The project manager can adjust the start and completion dates of tasks based on resource constraints. The benefit of this is that it can help balance workloads while also avoiding some resources from being overused while others are not fully utilized. The greatest benefit of effective resource management is that it can reduce idle time and resources, allowing all members and materials to be fully utilized, and also improve overall productivity.

  1. Risk management

Identify and mitigate potential risks that may affect the budget.

Develop relevant risk management plans and emergency measures for identified risks such as supply chain disruptions or regulatory changes.

The main content of proactive risk management includes early identification of potential risks and development of mitigation strategies. At present, the project may face risks related to supply chain disruptions. So in order to alleviate this situation, the project manager needs to find some alternative suppliers and establish good relationships with them. There are still some key components that need to establish buffer inventory. Regular risk assessments can help project teams update their plans, enabling them to respond promptly to all potential threats when they arise.

  1. Stakeholder participation

Regularly engaging with stakeholders is aimed at ensuring consistency and resolving any issues.

Regularly convene stakeholder meetings to review progress, discuss challenges, and, crucially, be able to adjust project goals and expectations.

Effective stakeholder involvement is crucial for the success of a project. Regular meetings with stakeholders can keep everyone informed of project progress while also avoiding the widespread emergence of any new issues. These interactions provide a platform for timely adjustments to the project. An open communication environment can enable project teams to meet the expectations of stakeholders as much as possible, gain their support to the maximum extent possible, and reduce misunderstandings.

  1. Change control

Establish a sound change control process to manage scope changes and their impact on the budget.

By formally reviewing and approving change requests, it can be ensured that they will not have a negative impact on the budget.

Change control is crucial for managing modifications to project scope, schedule, and budget. A structured change control process ensures that the impact of all change requests on the project is evaluated in a timely and effective manner. If the cost, schedule, and resource impact of each change can be effectively evaluated, then the final implementation of approved changes can ensure that the project remains within its original budget and schedule. Assuming that if a change request to upgrade to more advanced technology is submitted, the change control committee can conduct a comprehensive evaluation of the benefits and costs of the technology change before making a decision.

Reference

Ashworth, P., Bradbury, J., Wade, S., Feenstra, C. Y., Greenberg, S., Hund, G., & Mikunda, T. (2012). What’s in store: lessons from implementing CCS. International Journal of Greenhouse Gas Control9, 402-409.