Project Management: Objectives, Methodologies, Risk Analysis, Stakeholder Analysis, Work Breakdown Structure, Quality Expectations and Acceptance Criteria

This study discusses the effectiveness of project management methodologies in completing a music event, risk management plan, stakeholder analysis, work breakdown structure, quality expectations, and acceptance criteria.

Project Management
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Project objectives and effectiveness of project management methodology................................3
TASK 2............................................................................................................................................4
Calculation of the earliest starting time and latest starting time with critical path and Gantt
chart.............................................................................................................................................4
TASK 3............................................................................................................................................7
Stakeholder analysis for project management.............................................................................7
TASK 4............................................................................................................................................9
Importance of work breakdown structure for music event..........................................................9
TASK 5..........................................................................................................................................10
Risk analysis and risk management strategies...........................................................................10
TASK 6..........................................................................................................................................12
Quality expectation and acceptance criteria..............................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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INTRODUCTION
Project management is all about an application of methods, skills and processes to
accomplish project objectives (Demirkesen and Ozorhon, 2017). This study is going to discuss
effectiveness of project management methodologies in completing music event. It will further
discuss risk management plan and ways in which it helps in mitigating risks. It will further
discuss importance of stakeholder analysis and maintaining quality.
TASK 1
Project objectives and effectiveness of project management methodology
This project is all about to develop music concert bin order to allow people to enjoy. The
main reason of this music consent event is to allow people by which they can enjoy and can
make their mood refreshed. Project management methodologies play a vital role in completing
project with effectiveness. Waterfall, Prince 2 and agile are main project management
methodology that can make project manager able in completing this project in a timely and
successful manner.
Agile: It is an effective methodology that helps manager in completing as well as
managing project by breaking down it into several easier phases (Rasnacis and Berzisa, 2017). It
helps project managers in delivering value to customers as the focus of project manager is on
employees' collaboration and an improved communication.
Pros
 It improves flexibility and team collaboration.
 It improves communication
Cons
 Limited documentation is the main limitation.
 It becomes difficult in measuring performance in this methodology.
Waterfall: It is other effective project management approach whose focus is on linear
progression from beginning to end of project. It is a sequential methodology which means,
project manager needs to perform next stage only after completing previous stage in an effective
manner. He cannot go back on previous stage (Andrei and et.al., 2019).
Pros
 Easier to understand.
 Reduces waste within an operation.
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Cons
 As like agile, there is no scope of discovery and refinement while developing product.
 Not suitable for those projects where clients’ requirements get changed.
As it is music concert but clients’ requirements can be changed any time so accordingly, Agile
methodology would be better.
TASK 2
Calculation of the earliest starting time and latest starting time with critical path and Gantt chart
Gantt chart
Task Name Duration Start Finish Predecessors Early Start Early Finish
Budget approval 1 day Mon
11/8/21
Mon
11/8/21 Mon 11/8/21 Mon 11/8/21
Hire publicity
director 14 days Tue 11/9/21 Fri
11/26/21 1 Tue 11/9/21 Fri 11/26/21
Hire set designer 14 days Tue 11/9/21 Fri
11/26/21 1 Tue 11/9/21 Fri 11/26/21
Hire place for
auditions 7 days Mon
11/29/21 Tue 12/7/21 2 Mon 11/29/21 Tue 12/7/21
Advertising to hire
crew and cast 7 days Wed
12/8/21
Thu
12/16/21 4 Wed 12/8/21 Thu 12/16/21
Hire production
and publicity crew 28 days Fri 12/17/21 Tue 1/25/22 5 Fri 12/17/21 Tue 1/25/22
Set designed and
built 42 days Wed
1/26/22
Thu
3/24/22 3,6 Wed 1/26/22 Thu 3/24/22
Train production
crew 12 days Wed
1/26/22
Thu
2/10/22 3,6 Wed 1/26/22 Thu 2/10/22
Auditions to hire
cast 2 days Fri 12/17/21 Mon
12/20/21 5 Fri 12/17/21 Mon 12/20/21
Cast rehearsal 84 days Tue
12/21/21 Fri 4/15/22 9 Tue 12/21/21 Fri 4/15/22
Hire orchestra 7 days Tue 11/9/21 Wed
11/17/21 1 Tue 11/9/21 Wed 11/17/21
Music 7 days Thu
11/18/21
Fri
11/26/21 11 Thu 11/18/21 Fri 11/26/21
Photograph cast
and crew & collect
biographies
35 days Wed
1/26/22 Tue 3/15/22 6,9,11 Wed 1/26/22 Tue 3/15/22
Enter information
into computer 1 day Wed
3/16/22
Wed
3/16/22 13 Wed 3/16/22 Wed 3/16/22
Printing 5 days Thu 3/17/22 Wed 14 Thu 3/17/22 Wed 3/23/22
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3/23/22
Develop an
advertising plan 7 days Wed
1/26/22 Thu 2/3/22 6 Wed 1/26/22 Thu 2/3/22
Advertising media 21 days Fri 2/4/22 Fri 3/4/22 16 Fri 2/4/22 Fri 3/4/22
Orchestra
rehearsal 4 days Mon
11/29/21
Thu
12/2/21 12 Mon 11/29/21 Thu 12/2/21
Order costumes 7 days Tue
12/21/21
Wed
12/29/21 9 Tue 12/21/21 Wed 12/29/21
Costume parade
ans alterations 5 days Fri 3/25/22 Thu
3/31/22 7,19 Fri 3/25/22 Thu 3/31/22
Dress rehearsal 1 day Mon
4/18/22
Mon
4/18/22 8,10,18,20 Mon 4/18/22 Mon 4/18/22
Performance 10 days Tue 4/19/22 Mon 5/2/22 15,17,21 Tue 4/19/22 Mon 5/2/22
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Critical path analysis
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TASK 3
Stakeholder analysis for project management
Stakeholde
r
Internal
/
External
Amount of
Power/Interest
The
stakeholder
has
How would the
stakeholder affect
the project or be
affected by the
project
Communication
Strategy
Project host Internal High
power/high
It is the one who
arranges everything
and make sure that
everything is managed
as per the planning.
He is the main
responsible for
success and failure of
event so, they take
high interest and has
Monthly reports,
face to face and
telephonic
communication will
be used.
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high power.
Government External High power/low
interest
Government has high
power to influence and
make changes but this
event is not voluntary
type of event so, they
take low interest
(Eskerod and Larsen,
2018).
Face to face and
leaflet.
Media External Low
power/high
interest
Media remains
interested in such type
of events and by
providing each detail
to people, they gain
fame.
Monthly reports and
telephonic
communication.
Attendees External Low
power/high
interest
Music consent is
called successful when
there are number of
guests and attendees.
They have low power
but high interest as
they take opportunity
for enjoying.
Invitation cards
Production
crew
External High
power/High
interest
Production crew is
responsible for all
arrangements and
measurement of
success. Success can
improve their image
so, they have high
power and high
Notice board and
leaflet
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interest.
Musicians
and
performers
External High
power/high
interest
Performers are the one
of the most important
resource or
stakeholder for this
event. People can be
attracted if they are
informed about
musicians (Jayasena,
Mallawaarachchi and
Waidyasekara, 2019).
So, they have high
power and high
interest.
Face to face
communication and
telephonic
communication.
TASK 4
Importance of work breakdown structure for music event
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Music concert
Site Venue Speaker and musicians
Selection
Environment
Clearing and cleansing
Decide venue
Book venue
Decide topics Arrange speakers
Arrange experienced
musicians
Brief speakers and
musicians
Arrange catering
Finance
Sponsorship
Grants
Tickets
Audit reports

On the basis of above structure, it can be said that work breakdown structure is being used for
breaking down work into smaller and easier parts. It makes easier for project managers in
completing all tasks in an effective and timely manner. They can make changes in each stage
accordingly.
TASK 5
Risk analysis and risk management strategies
Risk
Description of the
risk
Negative / Positive
Probability / Impact Strategy to deal
with the risk
Financial risk As it is a music
consent that is going
to hold at large scale.
Musicians demand
high so, lack of
finance may be one of
the main risk.
It has high probability
to occur that may
affect quality of
project.
Project manager
will require to
have a backup plan
or by identifying
some effective
sources of finance,
risk can be
mitigated.
Performance risk There will be
requirement of
number of workers.
Some workers take
undue advantages and
do not focus on their
performance so, it
may hurt quality
(Willumse and et.al.,
Probability to occur is
medium.
Training to
workers and
continuous
controlling will be
the best strategy.
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2019).
Communication As this event is going
to be hold at large
scale so, project
manager might face
problems in
communicating with
both internal and
external stakeholders.
High chances to
occur.
By making list of
communicational
modes and
stakeholder
analysis will solve
this problem.
Technology risk This event is majorly
based on technology
as there will be
requirement of
speakers, proper
lighting and others.
Errors in technology
and software may
occur.
Low chance to occur. By hiring technical
expert, this
problem can be
mitigated.
Environmental risk changes in external
environmental factors
such as: climate
change, break of
infectious disease
might delay in project
submission.
Probability to occur
this risk is high.
Environmental
analysis with
PESTLE can help
in solving this
problem.
Safety risks Risks of fall, theft of
personal things of
guests and attack from
outsiders, conflicts
may affect overall
quality of this project
There is low
probability of this risk
to occur.
By hiring security
manager and
CCTV cameras,
this risk can be
mitigated.
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(Hillsqn, 2017).
TASK 6
Quality expectation and acceptance criteria
In regard to quality, it can be said that it is one of the main factor on which success of event
relies. It is important for project manager to maintain quality in order to make it successful and
memorable.
Quality expectation: As it is music consent so, project manager needs to focus on space
of area where this event is going to be organized. The reason of focusing on this factor is to make
guests feel comfortable. Other factor that is being focused and expected by guests regarding
quality is: facilities and manner in which they are being treated. So, in this context, it can be said
that project manager should focus on hiring experienced cast and service providers who can
welcome all guests and can serve them with welcome drink and starters (Pries, 2019).
Acceptance criteria: For maintaining quality of this music event, there will be
requirements of managing all arrangements in an effective manner such as: proper arrangements
of table, chairs, food, beverages. Famous musician will be the main attractiveness for guests.
Quality measurement: Quality will be measured by the total number of guests.
Feedback from guests will be other best way of knowing areas of effectiveness and improvement
as well. The reason of measuring quality is to make event successful and protecting against poor
project management in the future.
CONCLUSION
From the above study, it has been summarized that project management methodologies play
a vital role as it helps project managers in successful completion of project. It has further
discussed importance of risks as well as stakeholders’ analysis as it also makes project managers
able in protecting against failure or risks. Measuring quality of project is also important as it
improves image of project manager.
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REFERENCES
Books and journals
Andrei, B.A. and et.al., 2019. A study on using waterfall and agile methods in software project
management. Journal Of Information Systems & Operations Management, pp.125-135.
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.
Eskerod, P. and Larsen, T., 2018. Advancing project stakeholder analysis by the concept
‘shadows of the context’. International Journal of Project Management. 36(1). pp.161-
169.
Hillsqn, D., 2017. Managing risk in projects. Routledge.
Jayasena, N.S., Mallawaarachchi, H. and Waidyasekara, K.G.A.S., 2019. Stakeholder analysis
for smart city development project: an extensive literature review. In MATEC Web of
Conferences (Vol. 266, p. 06012). EDP Sciences.
Pries, K.H., 2019. Total quality management for project management. Auerbach Publications.
Rasnacis, A. and Berzisa, S., 2017. Method for adaptation and implementation of agile project
management methodology. Procedia Computer Science. 104. pp.43-50.
Willumsen, P. and et.al., 2019. Value creation through project risk management. International
Journal of Project Management. 37(5). pp.731-749.
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