Project Management: Methodologies, Gantt Chart, WBS, Stakeholder Analysis, Risk Analysis

Project Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Three project management methodologies.................................................................................1
TASK 2............................................................................................................................................2
Gantt chart...................................................................................................................................2
Network diagram.........................................................................................................................5
Critical path.................................................................................................................................5
TASK 3............................................................................................................................................6
WBS............................................................................................................................................6
Stakeholder analysis....................................................................................................................6
TASK 4............................................................................................................................................7
Risk analysis................................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Project management is the process of initiating, planning, executing and closing the
entire work. In the same way, present study is based upon the case study where Buck's Student
Union board wants to organize a Union Music Festival. Report will describe three project
management methodologies and network diagram, Gantt chart which shows EST and LST.
Further, report describe stakeholder analysis, WBS and risk analysis.
TASK 1
Three project management methodologies
Agile: It is the method which promotes continuous iteration of development and testing
that deliver the best value to their customers faster. Further, it is a type of process where
demands and solutions evolve using collaborative efforts (Joslin, 2019). This method is also
leads to accommodate changing requirement using development process.
Advantage:
 Flexible method and products are easily get in market that leads to customer satisfaction This method accepts uncertainty and faster review cycles (Different types of project
management methodologies, 2019).
Disadvantage:
 Sometimes project manager face difficulties to predict results
 This method is not fit for all the projects.
Waterfall: One of the traditional method where project is completed in different stages.
This method is not used in construction and manufacturing industry because software is
frequently changes (Joslin, 2019). This method is used for managing project, with team
members who are working in a linear way to attain goals.
Advantage:
 This method provides exact outcomes and each phase is describe with a clear timescale. This type deal with issue in design and companies get crystal clear outcome that is why,
most of the firm use the same.
Disadvantage: Sometimes it is difficult to define and takes long time to deliver the output.
Prince2: Mostly uses in private sector because it focus on efficiency and minimize risk
and error. This is a process based approach where each stage is clearly so that project manager
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provide clear results. This method focus on the business justification, define structure of an
organization for a team (Matos and et.al., 2019).
Advantage:
 Flexible method which clearly define the roles and responsibilities of a team. This is time and cost effective method and provide predictable results.
Disadvantage:
 It require senior management team members to run this method.
 Sometimes, provide results that lead to unfair reputation and supports other approach.
TASK 2
Gantt chart
Task
Mode Task Name Duratio
n Start Finish Predecesso
rs
Early
Finish
Early
Start
Late
Start
Late
Finish
1 Budget
Approval 1 day Sun
7/15/18
Sun
7/15/18
Sun
7/15/18
Sun
7/15/18
Sun
7/15/18
Mon
7/16/18
2
Hire
Publicity
Director
14 days Mon
7/16/18
Thu
8/2/18 1 Thu
8/2/18
Mon
7/16/18
Mon
7/16/18
Thu
8/2/18
3 Hire Set
Designer 14 days Mon
7/16/18
Thu
8/2/18 1 Thu
8/2/18
Mon
7/16/18
Fri
1/11/19
Wed
1/30/19
4
Hire Place
For
Auditions
7 days Fri
8/3/18
Mon
8/13/18 2 Mon
8/13/18
Fri
8/3/18
Fri
8/3/18
Mon
8/13/18
5
Advertising
To Hire
Crew and
Cast
7 days Fri
8/3/18
Mon
8/13/18 2 Mon
8/13/18
Fri
8/3/18
Fri
8/3/18
Mon
8/13/18
6
Hire
Production
& Publicity
Crew
34 days Tue
8/14/18
Mon
12/31/18 4,5 Mon
12/31/18
Tue
8/14/18
Thu
9/13/18
Wed
1/30/19
7
Set
Designed
and Built
42 days Tue
1/1/19
Wed
2/27/19 3,6 Wed
2/27/19
Tue
1/1/19
Thu
1/31/19
Fri
3/29/19
8
Train
Production
Crew
12 days Tue
1/1/19
Wed
1/16/19 3,6 Wed
1/16/19
Tue
1/1/19
Thu
3/21/19
Fri
4/5/19
9 Auditions
To Hire Cast 2 days Tue
8/14/18
Wed
8/15/18 4,5 Wed
8/15/18
Tue
8/14/18
Tue
8/14/18
Wed
8/15/18
2