Project Management Methodologies for Bucks Student’s Union Music Festival

Project management

Table of Contents
INTRODUCTION...........................................................................................................................1
Three project management methodologies.................................................................................1
Development of the network diagram.........................................................................................3
Stakeholder analysis and work break down structure.................................................................6
Risk analysis for the music event................................................................................................9
Risk mitigation strategy ...........................................................................................................10
CONCLUSION..............................................................................................................................11
References:.....................................................................................................................................12

INTRODUCTION
Project management is a process of leading the team work with the aim to attain all the
project goals in given constraints (Amorim and et. al., 2021). Such information is generally
defined in the project documentation, created at beginning of the process of development. In this
report the chosen event is a musical festival ( Bucks Student’s Union Music Festival) to ensure
the student's views on wide range of the issues and topics. Therefore, this report is going to cover
the project management methodologies, network diagram of the given activities, stakeholder
analysis, risk analyse and different strategies to overcome the risk.
Three project management methodologies
Water fall methodologies
It is a traditional and oldest methodologies of the project management. It is default and
sequential project management procedure which most team adopt by the default. This strategy
work in steps mentioned below:
 Planning
 Analysis
 Design
 Implementation or development
 Testing
 Deployment and maintenance
In this, every stage of a project flows from top to bottom (Lima and et. al., 2021). It require the
teams to work through tasks in the sequences, completing on activity before moving in next, all
the way of to the project completion.
Advantages
 Elaborate documentation is done at each stage of the development cycle of the software
 Change in the software can be made during the development process.
 Project is totally dependent on the project team with the minim customer intervention.
Disadvantages
 Small error or changes that arise in completed software can cause various issues.
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 Valuable feedbacks of the clients can not be included with the ongoing development
stages.
 It is not so desirable for a complex project in which requirements changes frequently.
Agile methodology
It is an incremental and iterative framework which uses the short development cycles
called sprints for focusing on the continuous improvements in development of any product and
services. It is a practice of promoting an iterative, incremental and collaborative approaches to
the project management.
Advantages
 In this methodology, more attention is paid to good design of a product.
 Customer's feedbacks are accommodated in current release of product
 changes in requirements can be accepted even in later phase of the development.
Disadvantages
 It is difficult to measure the progress since agile framework deliver in the increments.
 It is very challenging to implement since the individual naturally resist any change
 It is not easy to predict the efforts such time, resources and cost at beginning of a project.
Prince 2
It is extremely focused on the organisation & control. It is extremely linear and
procedure based methodology of the project management, that make it good beginner
methodology (Pal, 2022).
Advantages
 For a better accountability and communication in a project, Prince 2 methodology is very
effective and suitable.
 It pay more attention on the output and provide continuous improvement so that progress
and outcome are guaranteed.
Disadvantages
 At every phase, there is a lode of the documentation to update and maintain.
 There is lack involvement of the time due to which it is inevitable slow down the
projects.
 It need much documentation across the project life cycle, from the start to finish.
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