Planning and Management of a New Project

Question: Discuss about the Planning and Management of a New Project. Answer: Introduction During the starting of a new project or a new business, planning of the project and the management of the project are the main criteria. Out of these two projects management is the activity that is mainly composite in nature. Project management can be said as the area in which there must have resources that are planned, organized, secured, managed, leaded and controlled which will ultimately led to the achievement or success in specific goals. These criteria generally are applicable to start anew project because generally the projects are time constrained (Heagney, 2012). To make the project successful, it is mandatory to know how to use the required areas so that the completion gets success in overall organization of the project. The major principles of the management of the project are, project structure, definition phase, clear goals, must have some transparency regarding the status of the project, potential in recognition of the risks, management of the disturbances in the projec t, project manager responsibility and finally the success of the project (Leach, 2014). Start Up For a New Project The project that has been planned to start in Australia was the construction project or the construction business. The construction business has many advantages in the global market with the growing population and increasing globalization. The acquiring of the land and starting a business is nowadays getting very demand due to the high demand of increase in the population (Hill, 2013). The planning of the new business and the new project is important for the start up which includes the analysis of the external factors and the internal factors. The external factors include the investors or the financial organizations such as the government or the insurance organization overall has an impact over the internal analysis and the planning purpose of the construction project in Australia (Meng, 2012). Planning a new project with execution and monitoring Planning for the start up of a new business or anew project is a very crucial part upon which the success of the business lies. This document is very much dynamic for the planning procedure which is being checked in regular basis significantly with the analysis of the internal and external environment. The approach for a successful project plan is the key to the success of the business which must include some stages. They are the research of the Australian market according the project to be started, the analysis of the external factors and the internal capabilities, making the plan for the success, the implementation and the execution of the planning made for it and finally evaluating the plan that has been made for the project (Schwalbe, 2015). In the part of the making plan for the start up of a new business, Australian Government also provides many resources for the planning which is also being useful in the further processes. The planning and the execution of the project plan must have some opportunities and the ideas for the each and every individual whether it is in regional area or in the national. These construction businesses have a major impact on the buyer of the home (Shields Rangarajan, 2013). The execution of the construction business must keep the importance of the design which must be unique, the quality and simultaneously the customer service and effective timelines. With all these criteria, the price differentiation is the most vital source through which provides greater amount of competition in the market. For establishing a construction project in the Australian market, the builder who is planning for its project must have a strong reputation which in future market will be able to compete basing upon the quality and the timelines (Turner, 2016). Therefore in monitoring the project plan, it is necessary for the builder to have an established image in the Australian market to face a good competition in the market in future. The controlling of the project plan involves the monitoring of the whole total process of the construction which includes the planning of the project, its scheduling, its execution, the safety and the quality of the building and the most important the financial controls. The advertisement plans and the marketing strategies also play a vital role for the builder to make its construction business to attract the people to create a good market rapport in the future. All the process that are undergone for the start up of a project must go with the compliance of the industrial regulations of Australia (Walker, 2015). These regulations include the registrations and the licensing of the land to be used in construction and must fulfil the rules of the local and the state standards for building. These all processes are monitored in regular basis to keep a control over the whole procedure. The project controlling part also controls the labour and raw material procurement (Verzuh, 2015). In the Australian market, the builder must have good healthy relation with the suppliers and the sub-contractors which will be helpful achieving good competition in the market. Finally the policies and the procedures required for the closure and the implementation of the project plan. Most of the surveys said that the most of the construction business in Australia are mostly non-employing. This non-employing group generally consists of the partners and the builders and the sole proprietors. Project Risks The general risk in a construction business whether it is planned or well organized, is the timelines and the budgets. Usually these businesses dont complete their work by the given timelines and generally run behind the given schedule (Turner, 2016). Also the whole is planned in a random analyzed budget which also crosses its limit and goes over budget. For these a risk mitigation plan is being created to generalise the risks developed from the construction business. Finally the completion of the projects ensures the satisfaction of the customers and which eventually increases the market rapport of the company in the Australian market. Also by monitoring the profit and loss of the company the business will get the good amount of return of the invested business (Walker, 2015). Workable and Cost Effective Recommendations The construction of new project of a construction company needs much important analysis to be carried out for its success in the Australian market. The project planning process must include the current market analysis of the Australia regarding the construction work, and also it must evaluate the swot and the pest analysis by which a normal idea will must get for the establishment of the project (Schwalbe, 2015). The most effective plan is to make sure about the budget and other strategic issues required for the settling of the construction business. With all of these above works the last but not the least important work is to make sure to monitor each and every plan of the project including its execution to implementation which will eventually lead to the success of the project. 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