A rural town in Ladysmith (KZN) has come into the spotlight recently. Five scholars from a nearby school have been chosen to participate in the world tennis championships in England. These five pupils were the best in South Africa and are talented individuals that will represent South African school's tennis. They have a bright future in tennis if they are coached and mentored from a young age in proper facilities. In Ladysmith, where the pupils live, do not have tennis courts that are up to world-class standard. The minister of sports of South Africa has recognised that the pupils need excellent tennis facilities in order to train and prepare for the tournament and for them to become professional tennis players that can make South Africa proud. There has been a lack of professional tennis players from South Africa of recent. You have been recruited by the minister to manage the project to build ten world-class tennis courts in Ladysmith. You have been briefed by the minister and he has indicated that you need to deliver the facilities within the timeline, within budget, with the resources allocated and to the quality standards set by the department. QUESTION 1 2 Project managers should understand the importance of effective and efficient communication. Using the theory on the importance of effective and efficient communication, examine the importance thereof to your project. QUESTION 2 QUESTION 3 (20 Marks) Due to the interest of the minister and the public in this project, examine what managing communication is about in project management. Relate the theory discussed to your project in order to enlighten us how you would manage the communication of the project. (20 Marks) Question 5 (20 Marks) A stakeholder management strategy is an approach to help increase the support of stakeholders throughout the project. Design a stakeholder management strategy for your project. Use AT LEAST TEN (10) stakeholders for your demonstration. QUESTION 4 (20 Marks) A project manager has the onerous task of having to skilfully build a cooperative network among divergent allies in order to successfully manage a project. Using social networks is often effective in undertaking this task. Examine the FOUR (4) possible approaches that the project manager may employ in creating a social network. Apply these four (4) approaches to your project. (20 Marks) To manage conflict effectively it is important to correctly identify its source (Sadri, 2012:22). Examine the five conflict management styles and apply them to your project, in the event conflict arises. FORMATIVE ASSESSMENT 2 Answer ALL questions [100 MARKS] QUESTION 1 (25 Marks) 1.1 Your parents set up a trust fund for you 22 years ago that is now worth R47 866,34. If the fund earned 8% per year, how much did your parents invest? 1.2 Suppose you are offered an investment that will allow you to double your money in 9 years. You have R20 000 to invest. What is the implied rate of interest? 1.3 Suppose you have a 4-year-old son and you want to provide R55 000 in 16 years towards his college education. You currently have R5 000 to invest. What interest rate must you earn to have the R55 000 when you need it? 1.4 Suppose you want to buy a new house. You currently have R30 000 and you figure you need to have a 10% down payment plus an additional 5% of the loan amount in closing costs. If the type of house you want costs about R450 000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment and closing costs? (5) (7) (7) 2