Table of Contents Table of Contents.............................................................................................................................2 Project overview.........................................................................................................................2 Project cost management.............................................................................................................3 Project time management............................................................................................................4 Project risk management.............................................................................................................7 Project communication management..........................................................................................9 REFERENCES..............................................................................................................................12
Project overview Scope- the scope of the project includes the fact that scope is very wide and this is due to the reason that when the Boolmsbury institute will organize the Christmas party for the student. The scope is wide as this institute is very large and the party is organized for the entire student and the faculty within the institute (Meredith, Shafer and Mantel Jr, 2017). Rationale- the major reason for the celebration of the Christmas is that this is the last festival of the year and due to this reason it is essential to be celebrated. Also, till the end of the year all the student are also frustrated and it is very tough time for them as they have their exams. Thus, this event or the Christmas party will make them relax and they will feel little lighter. Constraint- while organizing the event there are many constraint which affect the working and the execution of the project. This is due to the reason that the plan is being made for the Christmas party which will happen in future. But the future is uncertain and it is not necessary that whatever is planned takes place in the same manner only. In addition to this another major constraint is the rapid changes taking place in the external environment. This is a constraint as if any change will take place which is not good for the project. Assumption– the major assumption for the project execution is that there will not be many changes in the need and preferences of the student and all the things relating to the Christmas party will be equal for all the visitors whether be it student, staff or any other stakeholder of the project (Fleming and Koppelman, 2016). Another major assumption is that all the resources of the project are readily and easily available for the completion of the project. WBS
Project cost management Resource analysis- there is many different types of resources which are necessary for the successful completion of the project. Without the use of the resources the project cannot be completed on time and due to this the project may not be sure that project is executed in proper and effective manner. The major resources being used in this event of Christmas party are the time, human resource, financial resources, technology, equipment, decoration material, venue finalisation and many other types of resources. Cost baseline and budget- this is also major criteria for the completion of the project as if the cost of the project will be high then the institute will not be able to bear the cost of project (Kerzner, 2017). It may be possible that the project will not get successful and will not be completed. Thus, the budget which is defined as the estimation of all the estimated income and
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expenses of a particular activity. The budget for the current event of Christmas party is as follows- ExpensesAmount Labour£400 Material£500 Marketing£300 Salaries and wages£800 Rent£450 Bills£550 Decoration£250 Food and catering£750 Total£4000 Project time management Gantt chart Task ModeTask NameDurationStartFinishPredecessors Auto ScheduledInitiation29 daysMon 7/20/20Thu 8/27/20 Auto ScheduledDeveloping the team12 daysMon 7/20/20Tue 8/4/20 Auto Scheduled Role and responsibility identification10 daysWed 8/5/20Tue 8/18/202 Auto Scheduled Assignment of role and responsibilities7 daysWed 8/19/20Thu 8/27/203 Auto ScheduledPlanning24 daysFri 8/28/20Wed 9/30/20 Auto Scheduled Project requirement determination9 daysFri 8/28/20Wed 9/9/204 Auto ScheduledBudget formulation7 daysThu 9/10/20Fri 9/18/206 Auto Scheduled Preparing project charter4 daysMon 9/21/20Thu 9/24/207 Auto Scheduled Identification of critical factor4 daysFri 9/25/20Wed 9/30/208 Auto ScheduledExecution21 daysThu 10/1/20Thu 10/29/20
Auto Scheduled Providing training for managing event7 daysThu 10/1/20Fri 10/9/209 Auto Scheduled Arranging for all resources of event6 daysMon 10/12/20Mon 10/19/2011 Auto Scheduled Finalizing the event venue4 daysTue 10/20/20Fri 10/23/2012 Auto Scheduled Ensuring the quality standards4 daysMon 10/26/20Thu 10/29/2013 Auto ScheduledMonitoring25 daysFri 10/30/20Thu 12/3/20 Auto Scheduled Complying with all safety measures6 daysFri 10/30/20Fri 11/6/2014 Auto Scheduled Ensuring proper food and safety6 daysMon 11/9/20Mon 11/16/2016 Auto ScheduledRisk management7 daysTue 11/17/20Wed 11/25/2017 Auto Scheduled Monitoring tool selection6 daysThu 11/26/20Thu 12/3/2018 Auto ScheduledClosure16 daysFri 12/4/20Fri 12/25/20 Auto Scheduled Reviewing the whole project7 daysFri 12/4/20Mon 12/14/2019 Auto Scheduled Suggestion for improvement4 daysTue 12/15/20Fri 12/18/2021 Auto Scheduled suggestion for improvement5 daysMon 12/21/20Fri 12/25/2022
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With the above Gantt chart and network diagram it is evident that all the activities of the project are interlinked with one another (Radujković and Sjekavica, 2017). Thus, for the completion of the project in successful manner it is essential for the project manager to manage the work in coordinated and timely manner. Also, the network diagram assists the company in analysing the shortest distance which is there between the initiating activity and the last activity of the project. Project risk management Risk identification- theriskistheuncertaineventwhichcanhappenduringthe completion process of the project. The risk is uncertain as it can happen or may not happen depending on the future conditions prevailing at the time of the project completion. The major risk being identified for the Christmas party organizing are as follows- Financial risk- this is the risk which involves the shortage of the money or the finance and without finance the business cannot work in effective and efficient manner. The finance is the risk as the money is not readily available and for borrowing the money the people have to take loan or need to bring sponsor (Demirkesen and Ozorhon, 2017). Thus, the cost of borrowing the finance is very high and it might be possible that the project not find good sources of borrowing finance.
Technological risk- this is the risk which occurs due to the changes in the technological market.Therearemanydifferenttypesofchangestakingplaceintheexternal environment and if the project manager does not take into consideration this then the company will not be able to succeed in the project (Nicholas and Steyn, 2017). Operational risk- this is the risk which the project manager faces at time of the completion or the operations of the project. It is very essential for the project head to ensure that the project is having enough of the requirement which is necessary for the completion of the project in successful as if this will not be considered then the company will not be able to manage the work in proper manner. Market risk- this risk is referred to as the changes taking place in the market and the requirement of the visitors coming for the Christmas party. If the project manager will not take care of this risk then this will create problem in the successful completion of the project and this will hamper the success level of the project. Legal risk- this is also the most essential risk which can be encountered by the project manager at time of completing the project. This is majorly because of the fact that the project involves gathering of lot many people, eating together and many other activities. Thus, this need to be complied with all the laws and regulation and this can create risk. Risk register RiskLikelihoodImpactRisk response Financial risk3ModerateThis risk can be mitigated with help of hiring a person who will work only on the research of various financial sources and the cheapest out of them. Technological risk4HighThis risk can be mitigated by the project managerbyadaptingtoallthelatest changes which are taking place in the technological sector. Operational risk2LowForthemitigationofthisriskitis essentialfortheprojectmanagerto allocatetheactivitiesandtherolein accordance with the capabilities of the
person. Market risk4HighThis risk can be minimised by having proper market research and from time to time. This is essential due to the reason that when the timely market research so that it can adapt to the latest changes. Legal risk1LowThis risk can be mitigated with help of hiringorrecruitingtheexpertor professional in the field of law. This is essential as that person will be having full knowledge and will try to protect the project. Project communication management Stakeholder matrix- the stakeholder is the people who are interested in the success of the project and the completion of project in successful manner. If the stakeholders are not satisfied then the project will not be successful (Turner, 2016). The major stakeholder in the project of Christmas party organization the major stakeholders are as follows- StakeholderRoles and responsibilitiesPower and interest Project managerThis is the main person in the successfulcompletionofthe project. This is majorly due to the reason that this is the person whoisresponsibleforthe successful completion and proper management of the project. The major role of the project manager istomaintainproper coordinationamongallthe activities of the project. Theyhavebothhigh interest and high power as theyareresponsiblefor the successful completion of the project. Project sponsorThisisthepersonwhoisThe power is low as the
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responsible for the providing of the finance to the project and its completion.Thisisthemost essentialstakeholderasifthe financewillnotbesufficient thenthecompanywillnotbe abletomaketheproject successful. sponsorjustprovides finance but the interest is high as if the project will getsuccessfulthenonly sponsorwillgetgood returns. Resource allocatorThis is the stakeholder which is responsible for the allocation of the resources. The resources are very limited and for success it is essentialthatresourcesare optimally allocated. Herethepowerof allocator is high as they havepowertoprovide resources but the interest is low as they just have to allocate the resources. Team membersThese arethe peoplewho are actuallyworkingonthe successfulcompletionofthe project.Thesearethepeople whoactuallyperformthetask assigned by the manager in order to complete the project. Theinterestandpower both are low of the team members. Communication plan The communication is referred to as the exchanging of the information, fact and figures and knowledge relating to anything from the sender to the receiver in the same manner as intended by the sender. Without the communication the project cannot be successful as all the activities of the project need to be communicated with the other stakeholder and the intended and interestpartiesaswell(Kivilä,MartinsuoandVuorinen,2017).Themajorchannel communication used by the Blomsbury institute for the communication of the project of Christmaspartycelebrationmainlyusesthemethodofwrittencommunication.Thisis necessarily used by the project manager and other stakeholder as this is more clear method of
communicating with one another. Also, the written messages can be kept as a proof for the future reference as well. Also, in addition to this the written communication is better as this will assist the manager of project to keep a track of all the activities and this will assist them in proper and effective monitoring of the project for getting successful.
REFERENCES Books and Journals Meredith, J.R., Shafer, S.M. and Mantel Jr, S.J., 2017.Project Management: A Strategic Managerial Approach. John Wiley & Sons. Kerzner, H., 2017.Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Radujković,M.andSjekavica,M.,2017.Projectmanagementsuccessfactors.Procedia engineering.196. pp.607-615. Demirkesen, S. and Ozorhon, B., 2017. Impact of integration management on construction project management performance.International Journal of Project Management.35(8). pp.1639-1654. Nicholas,J.M.andSteyn,H.,2017.Projectmanagementforengineering,businessand technology. Taylor & Francis. Turner, R., 2016.Gower handbook of project management. Routledge. Kivilä, J., Martinsuo, M. and Vuorinen, L., 2017. Sustainable project management through projectcontrolininfrastructureprojects.InternationalJournalofProject Management.35(6). pp.1167-1183. Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.