Project management - TOOLS AND TECHNIQUES Essay

Project management - TOOLS AND TECHNIQUES - Essay Example  ·   Ã‚  Ã‚  Ã‚  Ã‚  Budget of the project covers financial aspect of the project.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Stakeholder analysis covers the interest of individuals and associations who may get affected by the project.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Internal control & contingency plan covers the alternative plan to address risk factors associated with the project.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Equipments needed in different phases of the project are being also covered in project scope statement.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Internal or external people requirements covers total human capital will be needed in the project. Explanation In context to marketing project, first phase of project scope statement starts with understanding client requirements. In client requirement statements, clients specify their expectations such as expanding distribution channel, asset integrity, establishing new infrastructure etc. In the project scope statement, next comes Contract penalties where is being mentioned. In regulatory controls, legal obligations, government policies and environmental policies regarding the project is being analyzed. In marketing projects, regulatory control section covers legal issues regarding advertising policies, product quality standards, environment standards regarding supply chain activities etc. In budget control section, issues regarding financial capital is being required in required in the advertising promotion, variable cost associated with the operation, cost of supply of resources for different marketing activities are being discussed. In project scope statement of marketing projects, stakeholder analysis covers the probable individuals and associations who will take interest or may get affected by the execution of the project. In Internal control & contingency plan for marketing projects, operational control over advertising activities, human resource movement, assessing risk of project failure and plan to mitigate risks are being discussed. In case o f Equipments needed, marketing project manager design the plan for how many print material, TV commercial broadcasting, sales promotion materials, billboards, signage etc are being needed in the project. In case of project scope statement of marketing project, Internal or external people requirements cover total marketing employees are needed to execute the project and total numbers of external workers should be recruited to execute the marketing project. Mendelow’s Matrix can be used to understand stakeholder requirements regarding event management and marketing campaign of the client.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Table 2: Stakeholder Analysis (Mendelow’s Matrix) Stakeholder Power Index Low UK based customers who will buy retail merchandises of the German discount retailer. Project workers and marketing department of the client and in case of lack of understanding regarding among project members regarding project deliverables, they might create resistance in proposed marketing activities. High Top level management of the retail giant and regional heads of UK division. Financial organization that will provide capital support to client to fulfil its strategic objectives. Supply chain and investment partners might exercise their power in future circumstances. Low High Probability of power exercising Product scope description: in UK, the client offers huge range of product portfolio such as bakery items, beverages,