Project management. Project Feasibility and Cost Control. Management Assignment..

Project Management
Student’s Name
Name of the Class
Professor’s Name
Name of the School
City
State
Date
Abstract
Project management encompasses various demanding facets that involved parties have to accomplish intricately if the entire project is to be successful. A solid commitment to exploiting the emerging details guarantees the foreseeable future of the project is secure. The entire field of project management or at the very least, its theory, is expansive and thus, beyond this scope of this paper. Nevertheless, there are major concerns that should be given priority and more so, those that revolve around finances and human relationships. These two elements are quite important and influential in the subsequent project operations. In this regard, parties involved will focus on various project dimensions including but not limited to risk management, project feasibility and cost control, leadership and team planning as well as conflict resolution approaches.
Executive Summary
Starting a business in the current volatile marketplace is a very challenging activity. Regardless, entrepreneurs have a passionate zeal to solve the world's problems and more importantly, inspire the upcoming generations. However, they have to take necessary measures to ensure that their ideas come to fruition. Being precautionary means taking a significant amount of time to analyze ways in which potential challenges may orchestrate the downfall of the project. In this case, they will provide a theoretical and detailed analysis of ways of overcoming them. The best measures are realized from having perfect market information. This data is used to ascertain the chances of project success. Financial, market, credit, and social-political risks are all considered and the degree of uncertainty provided. Project feasibility is then conducted to determine whether the market is the need for the services thereof. Onwards, the specific roles of leaders are outlined so that every phase of the project is progressing positively. Besides, conflict resolution approaches are schemed to identify the best way forward before and after disagreements.
Project Management
1.0 Introduction
Entrepreneurs face the most daunting task, which begins from consolidating the necessary resources for their business idea and making relentless efforts so that the business becomes successful. Their work is primarily a trade-off between the risks involved and rewards that will emanate from the venture. Although there are downsides to starting the business, the entrepreneur is motivated and inspired by the possible upside and consequently, associated opportunities that arise. The financial returns in particular guarantee that the entrepreneur can take care of their families, solve their primary life necessities, and endear to make valuable changes to society at large. This discussion centers on three friends, including my biological brother, who have decided to collaborate in establishing a retail wine and spirits shop in a relatively densely populated town, but one that is achieving immense economic growth rate as it is in the major outskirts of a major city.
2.0 Risk Management
Risks are the underlying threats to the success of the business v...