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This document discusses project management methodologies, activity list, Gantt chart, network diagram, critical path, stakeholder analysis, WBS, and risk analysis for a music festival event. The risk analysis includes cost overrun, legal risk, delay, fire risk, and performance risk, with corresponding mitigation strategies. The output is in JSON format.

BM522 PROJECT
MANAGEMENT

TABLE OF CONTENTS
TASK 1............................................................................................................................................2
Project Management Methodologies...........................................................................................2
TASK 2............................................................................................................................................3
Activity List.................................................................................................................................3
Gantt Chart...................................................................................................................................5
Network Diagram........................................................................................................................5
Critical Path.................................................................................................................................6
TASK 3............................................................................................................................................7
Stakeholder Analysis...................................................................................................................7
WBS.............................................................................................................................................8
TASK 4............................................................................................................................................8
Risk Analysis...............................................................................................................................8
REFERENCES..............................................................................................................................11
1

TASK 1
Project Management Methodologies
Methodologies associated with project management mainly pertain to the working styles
and patterns that can be adopted for completion of project. Three prominent styles that can be
discussed are as follows:
Waterfall Methodology: This methodology emphasizes chronological steps that need to be
strictly complied with (Stoica and et.al., 2016). Members are segregated into teams who work at
each step individually and another step cannot start without the earlier step getting fully
completed.
Advantages Disadvantages
 Major advantages include earlier
identification of errors which can be
eliminated before beginning of
implementation phase.
 Progress can be easily measured.
 As project advances, it requires
newer modifications and changes
which cannot be incorporated.
 If one step gets delayed, entire
project is bound to be delayed.
Agile Methodology: This method pertains to continuous integration of steps and processes while
completing the project (Layton and Ostermiller, 2017). Various stages can go on simultaneously
increasing the productivity and overall output.
Advantages Disadvantages
 Changes can be easily administered
at every stage.
 Quality of the project increases as
every stage is evaluated and
modified according to the changes.
 Involvement of experts is very
high which often increases the
overall completion time.
 If objectives are unclear, the
project can slide off track.
Prince2 Methodology: Prince2 is an extremely detailed methodology which involves a detailed
process and is preferred for the projects that are implemented at nation- wide levels.
Advantages Disadvantages
Extremely flexible incorporation of
changes often helps in better
 Documentation work increases
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implementation (Brewer and Dittman,
2018).
 Outputs are more focused upon and
this automatically guarantees
progress and better results.
tremendously under this style.
 Project gets slowed down because
of lack of involvement of the
seniors in this style.
TASK 2
Activity List
S. Nos. Task Name Duration Start Finish Predecessors Early
Start
Early
Finish Late Start Late
Finish
1
Budget
Approval 1 day Wed
3/30/22
Wed
3/30/22 0 1 0 1
2
Hire Publicity
Director 14 days Thu
3/31/22
Tue
4/19/22 1 1 15 1 15
3
Hire Set
Designer 14 days Thu
3/31/22
Tue
4/19/22 1 1 15 54 68
4
Hire Place
For Auditions 7 days Wed
4/20/22
Thu
4/28/22 2 15 22 15 22
5
Advertising
To Hire Crew
and Cast
7 days Fri
4/29/22
Mon
5/9/22 4 22 29 22 29
6
Hire
Production &
Publicity
Crew
28 days Tue
5/10/22
Thu
6/16/22 5 29 57 40 68
7
Set Designed
and Built 42 days Fri
6/17/22
Mon
8/15/22 3,6 57 99 68 110
8
Train
Production
Crew
12 days Fri
6/17/22
Mon
7/4/22 3,6 57 69 103 115
9
Auditions To
Hire Cast 2 days Tue
5/10/22
Wed
5/11/22 5 29 31 29 31
10 Cast 84 days Thu Tue 9 31 115 31 115
3

Rehearsal 5/12/22 9/6/22
11
Hire
Orchestra 7 days Thu
3/31/22
Fri
4/8/22 1 1 8 68 75
12 Music 7 days Mon
4/11/22
Tue
4/19/22 11 8 15 104 111
13
Photograph
Cast And
Crew &
Collect
Biographies
35 days Fri
6/17/22
Thu
8/4/22 6,9,11 57 92 75 110
14
Enter
Information
Into
Computer
1 day Fri
8/5/22
Fri
8/5/22 13 92 93 110 111
15 Printing 5 days Mon
8/8/22
Fri
8/12/22 14 93 98 111 116
16
Develop an
Advertising
Plan
7 days Fri
6/17/22
Mon
6/27/22 6 57 64 88 95
17
Advertising
Media 21 days Tue
6/28/22
Tue
7/26/22 16 64 85 95 116
18
Orchestra
rehearsal 4 days Wed
4/20/22
Mon
4/25/22 12 15 19 111 115
19
Order
Costumes 7 days Thu
5/12/22
Fri
5/20/22 9 31 38 103 110
20
Costume
Parade And
Alterations
5 days Tue
8/16/22
Mon
8/22/22 7,19 99 104 110 115
21
Dress
Rehearsal 1 day Wed
9/7/22
Wed
9/7/22 8,10,18,20 115 116 115 116
22 Performance 10 days Thu
9/8/22
Wed
9/21/22 15,17,21 116 126 116 126
4

Gantt Chart
Network Diagram
5

Critical Path
Path 1:
1 – 2 – 4 – 5 – 9 – 10 – 21 – 22
1 + 14 + 7 + 7 + 2 + 84 + 1 + 10 = 126 days
Path 2:
1 – 2 – 4 – 5 – 6 – 16 – 17 – 21 – 22
1 + 14 + 7 + 28 + 7 + 21 + 1 + 10 = 89 days
Path 3:
1 – 3 – 8 – 21 – 22
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1 + 14+ 12 + 1 + 10 = 38 days
Path 4:
1 – 11 – 12 – 18 – 8 – 21 – 22
1 + 7 + 7 + 4 + 12 + 1 + 10 = 42 days
Path 5:
1 – 11 – 13 – 14 – 15 – 22
1 + 7 + 35 + 1 + 5 + 10 = 59 days
As identified amongst various other paths, the duration of Path 1 is longest and hence it can be
identified as critical path.
TASK 3
Stakeholder Analysis
Stakeholders are the individual, group of people, organization or any party that influence
by the action of projects. They are highly interested in the project's outcome. In order to analyse
the stakeholders that influenced with the current project of music festival event and are interested
in it, the stakeholder management matrix can be used. There are four categories in which the
project manager can distribute its project stakeholders such as latent, promoters, apathetic and
defenders. The Stakeholder management matrix are as follows:
Latent: This is a category of stakeholders which have to be kept satisfied by the project
manager in order to continue and achieve desired outcome of the project without any difficulty.
For example, co-producers, suppliers, audience, employees etc. are highly powered but have less
interest in projects and the manager have to keep them satisfied as success of music event
depends on them only (Sapapthai and et.al., 2020).
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Promoter: Another category of stakeholders is known as promoters which need to be
managed closely by project manager because they have high power as well as high interest. For
example, Marketing team of music event that promote the products and services of organization.
Sponsors and Promoters of the current musical events need to be manager closely for enhancing
the vogue of music event.
Apathetic: This is third category of matrix which involve the stakeholders of project that
should be monitored closely as they easily shift to other projects. It is because there power and
interest in project are low (Rai, Verlinde and Macharis, 2018). For example, the singer,
performers and students of the music event project covered in this category.
Defender: These are the stakeholder who have high interest in project but less power.
The project manager have to inform them about the project activities. For example, Dean, Head
of Department etc.
WBS
TASK 4
Risk Analysis
Likelihood and Impact Rating: 1= Very Unlikely, 2 = Slight, 3= Feasible, 4= Likely, 5= Very
Likely
Risk Rating: 1-2 = Minimal, 3-9 = Low, 10-15 = Medium, 16-20 = High and 25 = Extreme
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Risk Likelihood
(a)
Impact
(b)
Risk Score
(a) * (b)
Mitigation
Strategy
Action
Cost Overrun 5 5 25 Controlling By preparing
flexible
budgets
Legal risk 5 4 20 Controlling By hiring legal
experts who
fulfil all legal
formalities.
Delay in
project
completion
5 3 15 Monitoring By preparing
timeline, Gantt
chart and
properly
monitoring it.
Fire risk 4 5 20 Transferring By
transferring
risk to third
party such as
insurance.
Performance
risk
3 4 12 Monitoring By taking
responsibility
to monitor the
project
throughout
project's cycle.
Comment on the risk analysis and risk management strategies:
On the basis of above risk analysis table, it can be state that the five risk that is attached
with the current Bucks Student's Union musical event festival are cost, legal, time, fire and
performance risk. It is also analysed that the likelihood and impact of cost overrun risk is very
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likely which means the score of this risk is 25 (extreme). So, the project manager need to
consider this risk first as the risk rating score of cost overrun risk is high. The mitigation strategy
adopted by project manager for cost related risk is controlling (Dudek, Krzykowska-Piotrowska
and Siergiejczyk, 2020). It means the action the project manager will take in order to control this
risk is preparing flexible budget and continuously monitoring and updating it.
Another risk that need to be consider by project manager after cost overrun risk is legal
and fire risk. It is because this both have a risk rating score of 20 (high). The strategy project
manager will adapt to mitigate fire risk is transfer and legal risk is controlling. To transfer legal
risk, the project manager will get the insurance of its event and transfer the fire risk to third party
i.e., insurance company. To control the legal risk, the project manager will hire the legal advisor
so that all legal formalities of conducting musical events is easily get fulfilled. As because the
risk rating score of this two risk are high thus it is prime duty of project manager is that they will
mitigate the same in order to run the project smoothly (Zaky, 2018).
Further, there is also one risk i.e., delay in project completion which is attached with the
current musical event project. The risk rating score of this risk is 15 (medium). This means that
the likelihood as well as the impact of delay in project completion risk is medium. But than also
after taking action for other high risk having higher risk rating score, the project manager need to
prepare timeline and Gantt Chart. After preparing Gantt Chart, the project manager need to
properly monitor it's that whether the activities are completed by the team member within the
timeline or not. If (not) than the manager need to identify its reason and adopt the strategy of
motivation to keep its team member and employee of musical event motivated.
Lastly, there is performance risk which is also attached with current project and event.
The rating score of this risk is 12 which come under medium category. The project manager need
to adopt monitoring strategy to mitigate the performance related risk (Octavian and et.al., 2021).
It means the manager need to take responsibility as well as delegate the responsibility to their
team member to monitor each the whole project on a daily basis.
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REFERENCES
Books and Journal
Brewer, J. L. and Dittman, K. C., 2018. Methods of IT project management. Purdue University
Press.
Dudek, E., Krzykowska-Piotrowska, K. and Siergiejczyk, M., 2020. Risk management in (air)
transport with exemplary risk analysis based on the tolerability matrix. Transport
Problems. 15.
Layton, M. C. and Ostermiller, S. J., 2017. Agile project management for dummies. John Wiley
& Sons.
Octavian, A. and et.al., 2021. Risk Analysis of Islamic State (IS) Network Development in
Southeast Asia Based on 3D Matrix.
Rai, H. B., Verlinde, S. and Macharis, C., 2018. Shipping outside the box. Environmental impact
and stakeholder analysis of a crowd logistics platform in Belgium. Journal of Cleaner
Production. 202. pp.806-816.
Sapapthai, S. and et.al., 2020. A stakeholder analysis approach for area business continuity
management: A systematic review. Journal of Disaster Research. 15(5). pp.588-598.
Stoica, M. and et.al., 2016. Analyzing Agile Development-from Waterfall Style to
Scrumban. Informatica Economica, 20(4).
Zaky, M. M., 2018. Risk analysis using fuzzy system based risk matrix methodology. Arab
Journal of Nuclear Sciences and Applications. 51(4). pp.204-212.
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