Main characteristics of a project

1. Main characteristics of a project

7 project characteristics: temporary, unique, time-bound, resource-limited, progressively elaborated, risky, and delivering beneficial changes.

• Temporary
  • The project lasted 1 month, with clear start (idea approval on 18/08/2025) and end (report & presentation on 25/09/2025). After closure, the organizing team was released, proving the project is not ongoing
• Unique
  • The project is a one-time networking event combining a coffee chat, webinar, and gala night. While alumni events may continue in the future, this exact edition had unique goals, activities, and outputs (100+ alumni, feedback collection, new alumni network group).
• Time-bound
  • Deadlines were strict: registration closed 10/09/2025, coffee chat on 09/09, main event on 17/09, and final report on 18/09.
  • All tasks had to align with this fixed timeline, especially since alumni availability and venue booking were time-sensitive
• Resource-limited
  • Budget: 90 million VND.
  • Human resources: limited student volunteers, with risks of no-shows or inexperience.
  • Venue and logistics were constrained by capacity and technical support
• Progressive Elaboration
  • At first, only the idea of an alumni night was proposed.
  • As the project evolved, details were added: agenda, guest speaker list, marketing campaigns, risk management, change management, etc.
  • Deliverables (branding, WBS, IMC plan) were elaborated over time
• Risky
  • Risks identified: technical failures (mic, lighting), no-shows, low participation, budget overruns.
  • Mitigation: cross-training volunteers, backup sponsorship, contingency budget, feedback loops
• Beneficial Changes
  • Strengthened alumni–student bonds, career insights, and job networking.
  • Enhanced FTU’s reputation and created a sustainable alumni-student community for future collaboration.
  • Alumni engagement exceeded expectations: 90% participants rated the event above or far above expectations

1. Work Breakdown Structure (WBS) – Mother’s Birthday Celebration

1. Planning & Management

1.1 Define budget
1.2 Set date & time
1.3 Create guest list
1.4 Assign roles (family/friends/helpers)
1.5 Develop timeline & checklist

2. Venue & Decoration

2.1 Select venue (home, restaurant, hall, outdoor)
2.2 Book venue (if applicable)
2.3 Choose theme and style (colors, flowers, balloons, photos)
2.4 Arrange furniture & lighting
2.5 Set up decorations on the day

3. Food & Beverages

3.1 Select menu (mother’s favorite dishes)
3.2 Arrange catering / plan home cooking
3.3 Order birthday cake
3.4 Organize drinks & snacks
3.5 Setup serving arrangement

4. Gifts & Surprises

4.1 Select main gift (personal, meaningful)
4.2 Collect contributions for group gift
4.3 Prepare flowers & greeting cards
4.4 Plan surprise (video montage, slideshow, memory book)

5. Entertainment & Program

5.1 Design event agenda (welcome, speeches, games, cake cutting, dinner)
5.2 Arrange music/playlist/live performance
5.3 Prepare interactive activities (games, photo booth)
5.4 Assign MC/facilitator

6. Invitations & Communication

6.1 Design invitation cards (digital/print)
6.2 Send invitations (WhatsApp, Facebook, email, physical cards)
6.3 Track RSVPs
6.4 Confirm guest attendance

7. Event Execution (On the Day)

7.1 Venue setup & decoration
7.2 Food & cake delivery/check
7.3 Welcome and register guests
7.4 Run the planned program
7.5 Distribute return gifts (optional)
7.6 Clean-up after event

8. Post-Event

8.1 Send thank-you notes/messages
8.2 Share event photos/videos
8.3 Collect feedback (informal)
8.4 Reflect on lessons for future events

1. Analyze the advantages and disadvantages of stakeholders in an international investment project. Propose solutions to balance the interests of all party involved

1. Employees

Advantages:

• Provide human resources, knowledge, and technical skills to ensure project execution.
• Their commitment enhances productivity, innovation, and quality of outputs.
• Help the project adapt to cultural and operational challenges in host countries.

Disadvantages:

• Resistance to change, especially in international environments with new systems or technologies.
• Cultural differences and communication barriers may cause internal conflict.
• High turnover or lack of motivation can disrupt progress.

2. Government

Advantages:

• Offers legal frameworks, permits, and infrastructure support.
• Can provide tax incentives or favorable policies to attract international investment.
• Ensures that projects align with national development and sustainability goals.

Disadvantages:

• Bureaucracy and corruption can delay project approval and increase costs.
• Sudden policy or regulatory changes may disrupt project continuity.
• Complex compliance procedures may hinder efficiency.

3. Customers / Clients

Advantages:

• Provide market demand and revenue, ensuring the project’s financial viability.
• Offer valuable feedback that improves product/service quality.
• Strengthen brand reputation and long-term business relationships.

Disadvantages:

• Changing customer preferences can affect project design and profitability.
• High expectations may create pressure on cost, quality, and delivery time.
• Negative customer perception in foreign markets can harm brand image.

4. Investors

Advantages:

• Supply capital and financial stability for large-scale international projects.
• Bring strategic networks, expertise, and market credibility.
• Often drive performance discipline and accountability.

Disadvantages:

• Focus mainly on short-term financial returns rather than social or environmental goals.
• May withdraw investment if risks rise or returns decline.
• Potential conflicts with management over project direction or priorities.

5. Contractors

Advantages:

• Offer specialized technical services and reduce the company’s internal workload.
• Provide cost-effective and flexible labor solutions, especially for construction and engineering tasks.
• Enable rapid project scaling in international contexts.

Disadvantages:

• Quality and timeline depend on contractor performance — risk of delays or poor workmanship.
• Contractual disputes and coordination challenges may arise across countries.
• Over-reliance on external parties reduces internal control.

6. Public Interest Groups (NGOs, Environmental Organizations, Media, etc.)

Advantages:

• Promote transparency, sustainability, and ethical practices.
• Help build a positive public image and ensure compliance with social standards.
• Can act as a bridge between the company and society.

Disadvantages:

• May oppose project activities due to environmental or social concerns.
• Public criticism can lead to reputation damage and stakeholder pressure.
• Negotiation and advocacy take time and resources.

7. Local Community

Advantages:

• Provides labor, land, and local knowledge, improving cultural acceptance.
• Supports the project through social stability and goodwill.
• Can become long-term partners in corporate social responsibility (CSR) programs.

Disadvantages:

• May resist the project if it threatens local traditions or the environment.
• Social unrest or protests can delay or halt project operations.
• Requires consistent community engagement and benefit-sharing mechanisms.

Conclusion:

Each of the seven stakeholders contributes uniquely to an international investment project’s success.
However, they also introduce potential conflicts of interest — financial, social, or regulatory.
Effective stakeholder management involves transparent communication, fair benefit distribution, and responsiveness to local contexts. Balancing these advantages and disadvantages ensures project sustainability and global credibility.

Solutions:

• Stakeholder Mapping and Analysis

The first step in integration is to identify and map all stakeholders—assessing their power, interest, legitimacy, and urgency. By plotting them on a power–interest grid, project managers can determine which groups (e.g., high power–high interest like governments or investors) require close management, while others may need less intensive engagement. This analytical approach ensures no group is overlooked and that resources are allocated proportionally to stakeholder influence

• Building and Sustaining Engagement
• Define stakeholder needs and requirements using tools such as a requirement traceability matrix.
• Develop a Stakeholder Engagement Assessment Matrix to classify attitudes from Unaware to Leading and set strategies to shift stakeholders toward active support.
• Apply supportive leadership by understanding stakeholder struggles and considering the broader organizational and project context

This creates transparency and trust—key to harmonizing different expectations.

• Managing Conflicts and Resistance

Conflict is inevitable in international projects due to differing interests. The slides recommend using:

• Conflict resolution techniques,
• Political awareness, and
• Emotional intelligence
  to manage disagreements effectively

These interpersonal skills allow project leaders to transform disputes into collaboration opportunities.

• Communication and Transparency

Integrative solutions rely on two-way communication.
Regular updates, status reports, and open feedback sessions allow stakeholders to feel included in decision-making.
The project manager acts as the communication bridge, ensuring that information flows effectively between technical teams, sponsors, regulators, and communities.

• Balancing Competing Interests

To harmonize priorities among diverse groups (e.g., investors seeking profits vs. NGOs demanding sustainability):

• Develop a Stakeholder Engagement Plan as a formal output of the engagement process.
• Align project objectives with economic, environmental, and social goals—the “triple bottom line.”
• Use negotiation and consensus-building to find mutually beneficial compromises.
• Continuous Monitoring and Feedback

The process is iterative, not one-time.
Project managers should periodically review stakeholder positions and adjust engagement strategies as interests evolve.
Feedback mechanisms, such as surveys or workshops, help detect early signs of dissatisfaction, enabling timely corrective action.

• Integrating Technology and Risk Management

leveraging tools such as AI and digital platforms for stakeholder communication and ambiguity detection, ensuring clarity in international settings. Incorporating stakeholders into risk identification and mitigation further strengthens collaboration and accountability.

1. Analyze the process of project monitoring

Project monitoring is the continuous process of collecting, analyzing, and reporting data to track the project’s progress toward achieving its objectives.
Its primary purpose is to keep the project aligned with the approved plan in terms of scope, schedule, cost, and quality while identifying issues that require corrective actions.

Steps in the Monitoring Process

a. Observation and Data Collection

• Regularly observe ongoing activities and gather information about performance indicators such as cost, schedule, and quality.
• Methods include site inspections, progress reports, and performance metrics tracking.
• Example: in the “Office Renovation” case study, weekly site inspections and reports were used to monitor progress effectively

b. Performance Measurement

• Compare actual performance with the baseline plan (schedule, cost, and scope baselines).
• Key tools include Gantt charts, PERT/CPM, and Earned Value Management (EVM) to assess whether the project is on track.
• Variance analysis helps identify deviations early.

c. Control and Corrective Actions

• Once deviations are identified, corrective actions are implemented to bring the project back in line with its plan.
• The slides emphasize the sequence:

“Observe → Collect Data → Keep project aligned with objectives → Take Corrective Actions”.

d. Cost and Schedule Monitoring

• Monitoring focuses heavily on cost control and schedule control, ensuring financial health and timely delivery.
• Project managers use budget baselines and forecast updates to measure financial performance and anticipate overruns.

e. Reporting and Communication

• Regular status reports are prepared for stakeholders to communicate progress, risks, and corrective actions.
• Transparency ensures informed decision-making and continuous stakeholder engagement.