Project Management In Business

Task 1

Project Management In Business

1.1 Introduction - Project Management In Business

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The international committee of the Olympics deals with fostering human beings of various nations through the mode of sports and donating to world peace. In addition to this, the committee of the international Olympics requires a rock bottom of 40,000 rooms in the hotel that are required for the visiting of the spectators as well as the Olympic village for the athletes, referees as well as officials of the Olympics. The aim of this study is to discuss clearly the 2012 Olympic infrastructure Project context, Risk Management as well as Stakeholder management. The objective of the study is to evaluate the role of projects in delivering organizational strategy about the concerned topic. Another objective of the study is to access the process of initiating, and managing projects as well as planning of 2012 Olympics Infrastructure. Additionally, task 1 of the respective contains the role of projects in delivering organizational strategy and the process of initiating, managing projects as well as planning. Task 2 of the respective topic is dealing with the Project context, Stakeholder management as well as Risk Management in the 2012 Olympic infrastructure. In addition to this, task 3 of the respective report deals with conclusions and recommendations. 

1.2 The role of projects in delivering organizational strategy

The management of projects and programs plays a very important role in order to implementing the strategy of corporate in a systematic and controlled way. The project deals with the succession of tasks that are needed to complete to receive the set outcome (Kenyon and Bodet, 2018). There is a huge role of projects in order to deliver the organizational strategy because the projects selected to pursue are very much determined by the planning of strategy. There are various advantages in giving the organizational strategy because it has many benefits for the 2012 Olympic infrastructure such as it helps to coordinate the work cross-functional (Shipway et al. 2020). In addition to this, it centralizes the details, files, plans as well as feedback of the project of the 2012 Olympic infrastructure.

Figure 1: Logo of Olympics 2021

(Source: Kenyon and Bodet, 2018)

The next advantage of this is it helps to share a proper state of updates with all the stakeholders of the 2021 Olympic infrastructure. In addition to this, the major advantage of this is that it helps to improve team collaboration within the 2012 Olympics (Ritchie et al. 2020). Additionally, in Olympics, is all about team collaboration in order to perform the sports in an efficient way and organizational strategy improves team collaboration. The organizational strategy of 2012 supported decision-making because there are various benefits of it such as it created a constructive environment for playing properly (Holmes et al. 2020). Additionally, it also helped the 2021 Olympic infrastructure to explore better options for the decision-making on the Olympics. In addition to this, the decision-making also helped the respective Olympics to communicate with the players of the 2012 Olympics about the taken action and the decision that has been made by the respective organization (Vincent et al. 2018). The outcomes of the respective topic are to make accounts localized with numerous interpreters, impacts of potential as well as reactions of the Olympics.

The interpretations perceptions as well as views of the 2012 Olympic infrastructure by the research methods are qualitative by the usage of information about the post and pre-event. In addition to this, it also includes the group interviews from the players of the 2012 Olympics (Lovett et al. 2020). There are various beneficial changes in the 2012 Olympics such as 2012 increased the value of tourism and as a result, it boosts the local economies of the respective nation. In addition to this, the next beneficial challenge of the 2012 Olympics is it increases the stature and global trade of the respective host countries.

1.3 The process of initiating, managing projects as well as planning 

The initiation in the project is very much required in order to start a new project as it establishes what the values of the business are. There are different stages in order to initiate the project process, such as developing an Olympic case, drafting the charter of the project, managing the stakeholders of the 2012 Olympics as well as enlisting the stakeholders (Kenyon et al. 2018). In addition to this, it also includes the selection of the right teams for the Olympics of 2012 and the required project for the concerned Olympics. The project initiation is a phase where the objective, goals, and schedules of the respective Olympics were defined. There are various posses of the scope are as follows the objective and scope of the respective Olympics, Constraints (Li et al. 2020). In addition to this, the process also covers the schedule as well as the budget for the 2012 Olympics. There are various tools and techniques in the management of the process such as classic technique, waterfall technique, agile project management, rational unified process, review technique and program evaluation as well as critical path technique.

Task 2

2.1 Project context

The context of the 2012 Olympics is it increased the participation of various public across the globe in multiple sports. In addition to this, the context of the respective topic is it helped the urban transformation of “east London” in which most of the Olympic Games are largely based (Humphry, 2020). Additionally, it boosted both opportunities for economic as well as sustainability beyond and in the respective city. In the management of the Olympics, the context of the project deals with the procedures, techniques, practices as well as rules that are used within the Olympics of 2012. There are various techniques of the project such as it helped the concerned Olympic to organize the parts of moving in the tasks of the logical set (Flyvbjerg et al. 2021). The techniques are as follows work breakdown of the structure in order to increase the efficiency of the respective Olympics.

Figure 2: Players of various nations

(Source: Djobova and Kirilova, 2021)

As the 2012 Olympics is been played by the players worldwide in which the concept of leadership plates a very big role. Leadership is very important to organizing any type of Olympics because it helps the players to organize themselves in a proper way. In addition to this, the leaders show them the right path to winning the sports and they are responsible to explain proper rules and regulations to their players (Djobova and Kirilova, 2021). The theory of Transformational Leadership is very much related to this because the approach cause changes in the social systems and individual of the Olympics. The method technique of work breakdown structure (WBS) can be related to the technique because the WBS technique helps to break down the whole structure Olympic in a very simple way. Due to this each structure can do its work in an efficient way.

2.2 Stakeholder management

The management of stakeholders is very much needed in the Olympics because there are various private sectors that are investing in the Olympics. The importance of stakeholders is very much needed within the Olympics in order to receive reciprocal expectations and objectives for all the party's stakeholders (Choi et al. 2019). The stakeholders of the 2012 Olympics are “The London Organising Committee of the Olympic and Paralympic Games” (LOCOG) and “the London Legacy Development Corporation” (LLDC) as well as the greater London Authority (GLA), and the “British Olympic Association” (BOA). The International national committee (IOC) organizes the Olympic Games. The theoretical concept that can be related to the 2012 Olympics is the normative approach because this approach includes the interests of the respective holders is value intrinsic (Bazzanella et al. 2021).

Figure 3: Stadium of 2012 Olympic

(Source: McGowran and Donovan, 2021)

The path of honesty and regular communication with the team members of the respective Olympics can improve the management of the stakeholders. The major improvement can be done in a way by providing numerous ways for the stakeholders in order to share their inputs of the stakeholders. The benefits of the 2012 Olympics are it improved the performance of elite sporting in the country the UK; it increased the funding for the Olympics (McGowran and Donovan, 2021). In addition to this, the other benefits were changes in the performance management of the elite and this resulted in the success of medals. The funding of the Olympics could have been better in the process of funding organizing the Olympics it drains the financial part of the cities that host the Olympics.

2.3 Risk Management

The management of risks is very much important in the Olympics because hosting an Olympics is a huge task for a country and it comes with various risks such as the financial problem of the country. Many scenarios evaluate the likelihood and impact by the experts relevant. The risks are in the field of the readiness of the groups or individuals to conduct the attacks that are balanced as opposed to their capacity. There are various risks in the Olympics such as financial risks, political risks, as well as security risks. The financial risk can be managed by analyzing the previous funding in the Olympics and trying to manage it the next time. As the finance of the Olympics is funded by the private sector, so the funds are needed to be used in a proper way (Ritchi et al. 2020). Risk management must be done to save the political risks to protect the international peace during the Olympics games. In addition to this, the political risks of the Olympics are protests, propaganda as well as boycotts among the various countries.

Task 3

Various factors have benefited the effectiveness of management such as it showed love for the sports from the audiences as well as a love of the players for the sports. In addition to this, it also showed programs of excellent training of the players which has been provided by the coaches of the players (Vincent et al. 2018). The next benefit is it increases the competitiveness among the various players and as a result, the players of the 2012 Olympics are very determined to win the trophy the Olympics. In addition to this, there was a lack of coaching expertise for the various players from the various nations, which resulted in the failure of the levels of optimal performance in the international Olympic competition (Kenyon et al. 2018). There is a need for improvement in the field of the lack of coaching expertise because it helps the players during the Olympics to play properly by understanding proper rules and regulations about their particular sports. In addition to this, the other factors that prompted the effective management of the Olympics are the policies of the government because it plays a very important role. In order to assure the huge variety of sports as well as recreation of activities by issuing funding for the Olympics is required to the recreation organization as well as sports. The funding of the government plays a major role in the sports of grassroots as well as elite sports. 

3.1 Recommendations

As per the above study, there are various recommendations on the effective management for the project Olympics. The factors of effective management are it shows the level of competition among the various players and this has both negative as well as a positive side. As the people need to motivate the team members and try to show them the positive side of the competition because it helps the players to win the competition (Sukarmin and Ndayisenga, 2020). The Olympics needed to bring expert coaches for the players to make them understand the proper rules and regulations about the player's particular sports. As per the study, it is recommended that the Olympics need to overcome from the various risk of politics because sports unites the whole world. Mainly the Olympics are needed to overcome the financial risks. As per the above study, it is recommended that due to a lack of expertise in the coaching the Olympics there are various athletes who are not able to perform well in their sports. In addition to this, the improvement must be done in the field of increasing the development skills of the coaches and the coaches must motivate their athletes in a positive way (Yabe et al. 2021). The athletes of the Olympics must be trained in a way so that they are able to reach their optimal levels by showing their performance in international competitions. Fitness plays a very important role for the athletes and the coaches must train their players according to their sports. In addition to this, they must provide the proper knowledge about their sports and about their fitness such as they must be trained in respect of their weight.

3.2 Conclusion

Based on the above study it can be concluded that there are various factors that are needs to improve for the future Olympics. The respective study also highlights the various risks that are there in the field. The various risks, which are discussed in the study, are political risks and security risks. In addition to this, the major risk of the respective Olympics is the financial risk, which is being discussed in a proper way in the study. In addition to this, the respective study has a clear discussion about the context of the respective project, and management of the stakeholders in addition to this it includes the risk management of the Olympics. The respective report also emphasizes the recommendations based on the improvement of the coaches. In addition to this, the coaches play a major role in the life of an athlete and they must be trained to the coach's full efficiency.

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Reference list

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