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Management of Time and Risk Essay

   

Added on  2020-07-23

13 Pages2642 Words64 Views
Project Plan

ContentsINTRODUCTION...........................................................................................................................1Project Overview.............................................................................................................................1Definition.....................................................................................................................................1Rational........................................................................................................................................1Constraints...................................................................................................................................1Assumptions................................................................................................................................2Project charter..............................................................................................................................2Project cost management.................................................................................................................2Resource analysis.........................................................................................................................2Budgeting.....................................................................................................................................3Projected revenue.........................................................................................................................3Project Time management...............................................................................................................4Gantt chart...................................................................................................................................4Network Diagram........................................................................................................................6Critical Path.................................................................................................................................6Project Risk Management................................................................................................................7Risk identification........................................................................................................................7Risk Analysis...............................................................................................................................7Risk Matrix..................................................................................................................................7Risk Control.................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONIn order to undertake any type of event, it requires to have proper analysis and evaluation.More specifically, considerations should be made for activities that will be covered and cost thatwill be incurred to complete them (Buser, Whitelock and Holt, 2012). As per the present case,main focus is to organize a one day charity fundraising event. In order to conduct this in effectivemanner, there are sale of lace earrings done. This report covers total cost that has to be arrangedfor conducting the event. Further, it covers management of time and risk for attaining goals andobjectives. Project OverviewDefinitionLondon School of business and Management is planning to celebrate their academic yearthrough one day charity fundraising event. Main focus of the event is to raise at least £2018. As aproject manager, it is the responsibility to make sure that event is organized on May 2018. Itrequires to develop appropriate project plan that will help to take suitable steps to attain the goalsand objectives. In addition to this, the plan will help to eliminate the barriers that arise inconducting the project plan. RationalMain reason for conducting this event is to raise fund that can be used for supportingpeople who are in need. It is important for the project manager to set out activities that has to befollowed so that they are able to organize the event in effective manner (Larson and Gray, 2013).Main focus is to be made on raising fund and support from the side of people who can put ontheir full efforts to conduct the activities set. ConstraintsThere are different types of limitations that can be caused for conducting the event. Inthis context, it includes constraints like lack of finance. When the cost that is incurred for theactivities are not planned effectively, then it effects the plan for event (Schinca and Amigo,2010). Similarly, time is a type of constraint, when the activities planned are not completedwithin speculated time period. When all the other following activities will also get delayed. Thisway, the time scheduled that has to be completed within May will not be achieved. 1

AssumptionsIn accordance with the assumptions, it can be stated that the event will be benefited forraising fund. The determined goals that are to raise £2018 will be attained. As a project manager,I will be able to develop my skills related with planning, time management, decision making,problem solving, etc. I will be able to determine the total people who are required to make surethat project is completed. However, the planning made is not appropriate, then it can negativeaffected the event and it may not be completed with the scheduled time. Project charterIt is determined to be the statement of objectives in a project. This states the details ofroles, responsibilities and goals. In this context, the focus of the event is to fund raise and thefund will be used for the people who are need of help (Teller, 1997). As a project charter, it is theresponsibility to consider all the barriers that can fall in conducting any activities. With thisrespect, appropriate steps have to be taken so that they are able to overcome them in effectivemanner. Project cost managementResource analysisIt is important to have proper analysis to be made of the resources that will be included indevelopment of event. In this context, the resources that will be required are human resources.There are different type of activities that are planned and these need to determine workers whowill be skilled enough to complete the activities in appropriate manner. To conduct the activities,there are certain set of skills required (Marie, Beuzelin and Nicole, 2017). These can be attainedwhen proper monitoring is done and effective steps are considered so that skilled workers areidentified. Further, proper steps have to be taken so that finance is made available to completethe activities. With this respect, there are sponsors who will be helpful enough to cover the costthat will be incurred. More specifically, it will consists of people who will sell lace earrings.Apart from this, there are costs included in selecting appropriate venue where the event can beorganized. Further, it requires to convey information about the event so that more and morepeople can visit the event. This way, when all these aspects are considered, then the goals set willbe attained.2

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