Project Management: Methodologies, Stakeholder Management, Communication Strategies, WBS, and Risk Analysis

This report discusses project management methodologies, stakeholder management, communication strategies, work breakdown structure, and risk analysis in the context of a music festival project. It compares different methodologies and their advantages and disadvantages, and provides strategies for mitigating risks. The report also includes a stakeholder management matrix and communication strategies, as well as a work breakdown structure for the music festival.

Project Management

Table of Contents

Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Comparing project management methodologies with advantages and disadvantages...........1
Task 2...............................................................................................................................................4
Task 3...............................................................................................................................................4
Stakeholder management matrix............................................................................................4
Communication strategies......................................................................................................4
Work Breakdown Structure (WBS) for this music festival....................................................4
Task 4...............................................................................................................................................5
Risk analysis and mitigation strategies...................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
Project management can be defined as the process of managing the goals and objectives
of the project within the given constants of scope and time along with the project. The proper
project documentation in the beginning of the development process so that the outline of the
entire project can be displayed (Hazel and Mason, 2020). The current project is based on the
music festival. The following description is based on the different types of project management
methodology with advantages and disadvantages. The report also views the stakeholder
management matrix and communication strategies along with the work breakdown structure for
the music festival. Moreover discussion is also made on the risk analysis and its mitigation
strategies with proper conclusion.
Task 1
Comparing project management methodologies with advantages and disadvantages
Waterfall project
management
methodology
Agile project
management
methodology
Kanban project
management
methodology
Concept Waterfall project
management is a type
of model which is
sequential in nature
which divides the
project development
stages into different
predefined phases. It
states that until and
unless the initial stage
is completed then
only the next stage
must begin without
any overlapping of the
phases (Alvarado,
Agile project
management
methodology is a type
of incremental model
which performs every
state in an interactive
manner. After every
stage, testing is
conducted and
rectified if any error
found in the end
jumps the next stage.
Kanban project
management
methodology is also
the form of agile
project management
methodology. But it is
your objective to
identify the
bottlenecks of each
and every stage and
accordingly perform
the project in a cost
efficient manner at an
ideal speed. Italy
supports development
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2022). change and every
phase so that the
improvement can be
made in a continuous
way (Kinnunen,
Luonila and
Honkanen, 2019).
Advantages Its advantages are
such that it is rooted
for the smaller
projects in which the
requirements are well
defined. Quality
assurance test is
conducted for better
verification and
validation in order to
complete each and
every stage
systematically.
Moreover document
elaboration is
performed at every
stage in order to have
clarity. The project is
dependent upon the
project team without
any interference of the
client and any
changes made in the
project are easy
It is effective in using
because it creates
customer satisfaction
and also people's
expectations and
every stage of the
project management.
The reason being is
that every stage
requires speed back
and proper changes
according to the needs
and requirements of
the client. It includes
the daily interactions
which enhance the
proper
communication flow
among the
stakeholders of the
project management
which also specify the
good design of the
project where the
Its advantages are
such that it is easy to
use because it
promotes highly
sustainable and
continuous
improvements in
different functions of
the organisation
which is adaptable in
nature. It highly
supports the
collaboration and
integration among the
every stage of the
project management
with low overheads
that ultimately results
in the reduction of
cost and wastages.
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during the process of
development.
changes are
appreciated (Liberato,
Costa, Liberato and
Ribeiro, 2020).
Disadvantages Its disadvantages
include that any of the
errors can only be
fixed during the
development of the
phase which is not
desirable for the
complicated project
where the changes of
the requirements are
frequent in nature.
The stage of testing
arrives late at the time
of the development
process in which the
documentation
consumes a lot of time
of the developers.
feedback is not
included by the client
at every stage of the
project management.
Due to the testing at
every stage in agile
methodology it is
typical to document
each and every
constraint as it results
in the complications
in scope and budget of
the project. Addiction
of the data is difficult
and the estimates of
the actual effort can
create errors in the
entire project
development.
Moreover, it has ever
evolving features
which are always at
the risk of successful
completion.
Its disadvantages
include that this is a
type of project
management
methodology which
cannot be used on an
independent basis
because it does not fit
into the dynamic or
changing
environment. The
reason being is that it
is itself the dynamic
project which has the
enability for an
iteration and is also
having the lack of
timing to accomplish
the project on a
deadline.
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Task 2
Task 3
Stakeholder management matrix
Stakeholder analysis matrix has four quadrants. Keep satisfied is a first quadrant which
has high power but low infest. Manage closely is the second quadrant which has high power and
high interest. Monitoring that is the minimum effort is the third quadrant which has low power
and low interest. Keep informed is the port quadrant which has low power and high interest. In
context with the music festival as per the given case scenario, the stakeholders who have high
power and high interest are the Employees with short supply and customers along with the
complimentary products. Stakeholders who have low interest and high power are the board
members and employees along with the managers. Stakeholders who have low power but high
interest are the competitors and government along with the media in certain situations.
Stakeholders who have low interest and low power are the consumer interest groups and
professional associations for employees along with the stockholders (Brennan, Scott, Connelly
and Lawrence, 2019).
Communication strategies
There are different communication strategies through which the several stakeholders can
interact with each other in a potential manner with proper effectiveness and efficiency.
Brainstorming is a process in which different stakeholders of music festivals come together and
discuss the music even with new ideas and innovation to implement. Digital communication is
also encouraged in the form of emails and social media applications (Pavluković, Armenski and
Alcántara-Pilar, 2019).
Work Breakdown Structure (WBS) for this music festival
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Task 4
Risk analysis and mitigation strategies
Risk involved Risk mitigation strategies
Crowd management risk Crowd management risk at music festivals can
be mitigated using various strategies. It is
important for the project manager to initially
know the audiences who will be rending the
music festival so that they can plan in advance
how they can make arrangements in terms of
food and seating. It is important to make sure
that emergency services and venue
management are on priority so that any risk
assessment related to such services can be
mitigated. Emergency plan is necessary for
demarcating the several areas. Alcohol
consumption must be respected along with the
screen attenders so that the stream line can be
reduced. Hiring the right number of staff is
mandatory in order to higher proper security
(Allen, Harris, Jago and D'Arcy, 2019).
Staff management risk Staff management risk can be reduced with the
help of strategies like hiring the right people
and the right time with the right skills and
capabilities. Moreover, it is important to
measure and monitor the performance of the
staff on a regular basis so that it can foster
communication that ultimately increases staff
to voice opinions and ideas. Rewarding and
recognising the heart and smart work of a staff
helps in proper management with motivation
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while having clear goals and objectives.
Budget management risk Budget management can be migrated with the
strategies adopted by the project manager. For
example project management incoming and
outgoing of the money from the music festival
conducted which helps in outlining the entire
budget and save up for the coming expenses as
well. The draft of the savings plan must be
formulated so that it can be continuously
reviewed and updated while setting up the
realistic goals (Kinnunen, Honkanen and
Luonila, 2021).
Technological risk Technology management risk can be mitigated
with the strategies by focusing on the entire
Management process and tools in order to have
innovative practical applications. Security
concerns are highly targeted so that the cyber
attacks can be avoided. There are different
sources of Technology which includes the
computer hardware and software along with
the network and internet and many more which
are to be protected with the help of password
management and access control strategies.
Time management risk Time management is heated with the help of
strategy of properly having the awareness
about how to spend the time on each and every
music even while set in the priorities and
having the uses of planning tools. It Is
important to be organised and schedule each
and every program in an appropriate manner.
This can be done by delegating the task and
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managing the time waste activity (Alonso-
Vazquez, Packer, Fairley and Hughes, 2019).
Conclusion
It is concluded that project management is an important concept to learn and study so that
exact locations can be applied in real world organisations. This is because it provides the
systematic process to follow and the different methodologies to adopt so that the strategic
management of the project can be performed in a successful manner. Therefore it is important to
analyse the different project management methodologies and also to study about the stakeholder
management matrix along with the communication strategies. It is necessary to determine the
work breakdown structure and risk analysis along with the mitigation strategies as well. Hence
the above report covers all such areas in order to better understand the concepts of project
management.
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References
Books and Journals
Allen, J., Harris, R., Jago, L. and D'Arcy, E., 2019. Festival and special event management. John
Wiley & Sons.
Alonso-Vazquez, M., Packer, J., Fairley, S. and Hughes, K., 2019. The role of place attachment
and festival attachment in influencing attendees’ environmentally responsible behaviours at
music festivals. Tourism Recreation Research, 44(1), pp.91-102.
Alvarado, K.G., 2022. Accessibility of music festivals: a British perspective. International
Journal of Event and Festival Management.
Brennan, M., Scott, J.C., Connelly, A. and Lawrence, G., 2019. Do music festival communities
address environmental sustainability and how? A Scottish case study. Popular
Music, 38(2), pp.252-275.
Hazel, D. and Mason, C., 2020. The role of stakeholders in shifting environmental practices of
music festivals in British Columbia, Canada. International Journal of Event and Festival
Management.
Kinnunen, M., Honkanen, A. and Luonila, M., 2021. Frequent music festival attendance: festival
fandom and career development. International Journal of Event and Festival Management.
Kinnunen, M., Luonila, M. and Honkanen, A., 2019. Segmentation of music festival
attendees. Scandinavian journal of hospitality and tourism, 19(3), pp.278-299.
Liberato, D., Costa, E., Liberato, P. and Ribeiro, J., 2020. The role of events and music festivals
in urban tourism: Case Study. In Advances in Tourism, Technology and Smart Systems (pp.
537-549). Springer, Singapore.
Pavluković, V., Armenski, T. and Alcántara-Pilar, J.M., 2019. The impact of music festivals on
local communities and their quality of life: comparation of Serbia and Hungary. In Best
Practices in Hospitality and Tourism Marketing and Management (pp. 217-237). Springer,
Cham.
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