Project Plan for Global Banking School's New Liverpool Campus Case Study

Project Plan for Global Banking School's New Liverpool Campus

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Introduction: Project Plan for Global Banking School's New Liverpool Campus

Global Banking School (GBS) is the largest industrial training institution in the UK. It has various branches across the UK. It is planning to expand a branch in Liverpool, and for that process, a project manager got hired. The manager supervises the whole Project and ensures the budget and timing. This Project has its own SMART goals and research method. According to these goals, the manager will decide on the skills and strategies and form a GANTT chart and a budget plan. This GBS project will give higher education and a lot of career options to the students of Liverpool. Along with this, this Project will create a lot of employability in the city. It is a large-scale project initiated by the GBS authorities. It will also expand its chain of institutions.

Section 1: Project Plan

1.1 Project Background

Global Banking School offers higher education regarding different industrial courses across London, Manchester, and Birmingham (GBS, 2023). It has partnerships with various universities in the UK regarding vocation, under-graduation, and post-graduation programs in banking, finance, business, management, and health sectors (GBS, 2023). This school provides services and products to many corporate and government companies and universities across the world. GBs has eight higher educational campuses in different locals. It is also trying to introduce a campus in Liverpool to expand its chain. For that Project, GBS is hiring a project manager who will supervise the Project. An agile methodology has been used to perform the task and activities included in the project. In this methodology the phases are divided into several phases. Following each sprint, teams examine their past work to evaluate where they succeeded and where they may do better in order to better prepare for the next sprint.

Project Methodology

Research Approach

To make this Project successful, intense research work is essential, which will decide the structure and strategies of the Project (Miklian and Hoelscher, 2018). This research work will also choose the goals of this Project. The research work included both qualitative and quantitative data collection methods to make this project successful.

Sampling Method

The research work needs different interviews, but due to some limitations, this interview process is limited to the city of Liverpool. Because of this reason, the number of collected data is very restricted to only 10 people participating in this interview process. These participants are mainly the students of the GBS campus.

Data collection method

The mode of data collection for this research is mainly interviews. The students of the GBS will be interviewed to collect data regarding the research work, and the data will be obtained based on their interviews.

Data Analysis Method

The data from these interviews will be analysed in a qualitative manner. As this research work is based on data from the interviews, so there will be no quantitative data. Most data are qualitative.

1.2 Objectives of the Project

This Project uses the SMART object method to ensure that the aim of this Project is education and career-orientated, and it can be done (Ngo and Hwang, 2022). The SMART objectives of this GBS project are

Aim of the Project: Install a new campus in the city of Liverpool

Project size: A unique and organized campus of GBS.

Attainable: Build a new campus in Liverpool just like other campuses in different places in the UK.

Relevance: Frequently meet with the workers and builders to discuss the budget and the Project's time frame. This campus will give scope to underprivileged students to complete their higher education.

Time-bound: This Project has a specific timeline, and it should be completed by that time frame.

Project Deliverables

Table 1: Table of time and Aims of the Project

1.3 Scope and process of the Project

This Project will create different types of scopes for different people. It will give students of Liverpool the scope for higher education, and many workers in the city will get employment in this Project. Multiple highly qualified teachers will get the scope to teach on this campus. To make this project successful, the project manager will construct a planning strategy and work plan according to need (Heerkens, 2002). Then it will be conveyed to the workers, and they will be given a time frame by which they have to finish the work. The project manager will divide the workers into multiple teams, according to work, and they will be given proper instruction regarding the aim of their team. After this, the project manager will allot money to the teams according to their need (Derenskaya, 2018). The manager will use a digital platform to communicate with employees, which can be Slack or WhatsApp, and he will be conducting review meetings every 15 days. After the completion of the work, he will conduct a review and wrap-up meeting and will declare that the Project is over.

Once this Project is over, the government will help it to deliver higher education to the students at an affordable cost. This process will be followed by the renovation plans according to the Gantt chart.

In completion of the project

1.4 Skills to Complete the Project

Every Project needs different skills to get completed. The quality of the Project depends upon the skills of the worker. There are different types of skill that a project need for its completion.

Leadership

This is the most important skill for any work to get completed. If the project manager has good leadership skills, then he will be able to control and supervise the work of the team (Daft, 2022). A good leader listens to his employees' suggestions and problems; here, the manager will do so, and it will help the Project to get completed quickly.

Communication Skill

A manager with good communication skills is able to communicate with his employees and worker freely. It will solve various doubts of the employees, and they will get a clear view of the Project (O’Rourke, 2019). Good communication skills the project manager will also help him to talk with the higher authorities and get to know the clear aim of the Project so that he can run the Project according to their expectation.

Cost Management

One of the main skills a project manager should have is cost management skill. He should be able to control the cost of the Project (Hansen et al., 2021). Because every Project has limited resources, if the manager is not able to manage the cost effectively, then it will cause loss. The Project will not get finished by this time. So, it is very important to have good cost managing skills as a project manager.

Negotiation

A good manager should have good negotiation skills in order to negotiate with the employees, suppliers, and higher authorities. He should be able to negotiate with the people in adverse circumstances. This skill can reduce the conflict between workers and authorities, and it will result in the formation of a middle ground where everyone will agree to work.

1.5 Project Assumption and Risk

This is a big project involving a lot of money, time, and workers. Many students of Liverpool are looking forward to this Project for their higher education (Asana, 2023). If this Project does not go with its strategies or fails to match its aim, it will cost a lot for numerous people. This Project has various risk factors.

Short Time: As it is a big project, it may face a time crunch. Because it takes time to complete such a big project with the optimum level of performance.

Accidents: During this Project, there is a high risk of accidents. Many workers can face different kinds of accidents, which will slow down the Project.

Low performance: The workers who are involved with this Project can lack an efficiency level (Asana, 2023). The performance level cannot be up to the mark, which will delay the Project. There is a possibility that the Project might not get completed within the time frame.

High Cost: Every Project starts with a budget; if the workers are not so efficient or they are unable to finish the Project by that time, it can cost more than the budget cost. This high cost sometimes can close the work. This will create a loss for the Project, and the Project will get stopped in the middle.

Adverse Climate: Climate is the main factor for every Project because adverse climatic situations can stop work. Heavy rain or storm can stop the work for a long time, and sometimes earthquakes can destroy the building, which will lead to the Project being in the back seat.

Lack of Resources: This Project needs different resources like wood, cement, bricks, tiles, and many more (Asana, 2023). If there is any kind of strike or something else that stop the supply of these resources, then this Project will get stopped. Even if there are not sufficient workers, then this Project will also get delayed.

1.6 Project cost

Project cost is the total amount of money needed for the Project to get completed. Every Project has a different cost depending on the size of the Project. The GBS project is a large one that involves a lot of funds in different sectors. The funding structure is given below with the help of a table:

Table 2: Cost Breakdown of the Project

1.7 Gantt Chart

Table 3: Gantt Chart

1.8 Discussion of the identified task in the Project

Identification of the requirement is one of the tasks of the Project. Identifying the requirement will allow the university to get a clear view of the operational process that needs to be initiated at the primary level of the Project (Marín Pérez, 2020). In accordance with the first phase, it is mandatory to conduct research to gain a better understanding of the process and activity. Gathering resources is the next phase of the Project. With resource gathering, the university can initiate its Project. Recruiting workers is the next step, where teams will be segregated as per different tasks and activities. Executing the Project is the next phase which will be followed with a contingency plan for mitigating the issues of risk occurrence (Irfan et al., 2021). The progress of the Project is followed by documentation of the operational process and the promotion of the university campus.

1.9 Execution of the project plan

Planning is the most important phase in project management because it enables managers to examine the Project's inherent risks. During the planning phase, the project manager learns more about the ultimate goal, which benefits the project schedule and final product. At this point, the stakeholders also take stock of everything that is required, and an evaluation is made. At this juncture, the program leader may decide to draft a contingency plan (Pellerin and Perrier, 2019). The resources that are saved on planning may be used for the implementation and completion of the Project. Methods may be devised at any time to keep track of alterations and updates based on newly available data and knowledge gained as the Project progresses. Preparation for previous projects is also repeated. That is why so many checks and balances are made at every stage of the Project's execution (Filippetto et al., 2021). Create a risk management strategy, quality assurance plan, and communication plan as part of the planning. The strategy for managing risks analyzes potential threats and lays out strategies for mitigating them, taking into account the Project's most pressing needs and constraints. Risk assessment and mitigation should be performed throughout a project's life cycle, not only at the outset.

Section 2

2.1 Evaluating the progress of the Project

Several of the milestones for the Progress Report have been completed by having a firm grasp of what it means to communicate with a certain group of people, why it's important to do so, what methods work best, what the larger context is, and what information to include. Knowledge of the reporting components and standards simplifies project monitoring. The GBS plan to build a new facility in Liverpool includes monitoring three key factors: budget, schedule, and team member output. When a timetable and cost estimate have been created for each step of the Project, keeping tabs on its progress is a breeze. This is done so that after the guidelines or standard has been released, all the monitoring team has to do is compare the actual results to the defined criteria. If the Project follows the steps above, the Project has a far better chance of success. Timeliness is the most important factor in a project's success because if it isn't completed on schedule, people will lose interest in it. The timeliness of the GBS project is evaluated by comparing actual phase completion times to those predicted by the Project's Gantt chart. An argument could be made that the Project's effectiveness is deteriorating because more time needs to be spent on an activity that will reduce the time available to complete other tasks, such as hiring the Project's staff. If the activity takes ten days to complete, but only seven days were allocated, the Project's performance could be said to be deteriorating. If the Projectdoesn't have enough time, the university may not be able to complete the other obligations effectively. The Project's total performance will deteriorate if costs continue to rise. To be called cost-effective, a project must be able to cover all of its phase costs within the allowed budget(Salomone, 2019). If the project team is unable to finish a given phase within the allocated budget, the other stages will have to be completed with a reduced scope and resources. As a result, the Project as a whole may end up being poorly executed, which would reduce its effectiveness.

2.2 Updated project timeline

Below figure 2 illustrates the progress of the activities of the Project. According to the table, it can be analyzed that the activities included in the Project are progressing efficiently.

Table 4: Updated timeline of the Project

On the other hand, there are no recent changes that have been made to the Project. The timeline is the same as the previous timeline, however, with development in each of the stages.

Section 3: Poster

3.1 Benefits of studying at GBS

3.2 Explanation of the ways of methodology meeting the objectives

Existing work on the GBS in Liverpool has created a framework for accomplishing its goals and how the Project's strategy achieves its objectives. Expanding into a new area means reaching a more diverse audience, and a new complex will help make that happen. For as long as it has been manufactured, GBS has stood by its quality. By erecting a shiny new campus, the institution is sure to rise in the public's esteem. There will be many different kinds of pupils at the Liverpool location. Hence, GBS students will be exposed to a wide range of subject matter. GBS has learned something from its previous locations. So, with the help of their existing experience, doing operations at the new location will be a breeze. Facilitating the government's ability to ascertain the Project's viability provides the government with the information to help it choose whether or not to proceed with the initiative.

In the present scenario agile project methodology has been used to fulfill the objectives of the project. In agile project management, input is included at every stage of the process, and projects are released often and continuously. Early stakeholder engagement and iterative process and product improvement are priorities. This guarantees that the infrastructure that is been developed by the stakeholders are free from errors and flaws. With the agile methodology, stakeholders are able to identify the challenges they have faced while completing the project of expanding the infrastructure of GBS.

Conclusion

It can be concluded that the university needs to focus strictly on the Project to make the Project a success. The findings of the task illustrate numerous benefits of studying at Global Banking School. From the task, it has been found that the task required for the development of the Project has progressed smoothly and effectively. The findings of the task also illustrates that GBS focuses on budget, schedule and the output and contribution of the team members in successfully accomplishing the project. Communication skills are also necessary in communicating with the employees and staffs in executing the project in a smooth and structured manner.

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