Project Management Methodologies and Strategies for Buck's Music Festival

Project Management

INTRODUCTION
Project management is that exercise which consist of initiating, executing, controlling
and closing the work in order to meet the define aim. The current study is based upon the Buck’s
Music festival which is introduce in month of April and for that study will describe best project
management methodologies and present gantt chart as well. Further, report will describe WBS
and stakeholder matrix wit communication strategies. Also, report will present the risk register
and some mitigation strategies as well.
TASK 1
Presenting three project management methodologies
Waterfall Methodology: One of the most traditional methodology in which the phases
of the project flow downwards and this is also require to move from one phase to another. It
majorly lay stress on the development process and also follow some phases in order to manage
the work accordingly (Joslin and Müller, 2016). Such that system and software requirement,
analysis, design, coding, testing and operations.
Advantages:
 This methods is simple and easy to understand as compared to other project
methodologies (Rasnacis and Berzisa, 2017).
 Each phase clearly describe the requirements in clear and define manner.
Disadvantages:
 It is not possible for the project manager to go back and make changes from the initial
phase.
 This project requires high amount of risk and uncertainty.
Prince2 Methodology: Another methodology which mainly focus on the organization
and make control over the entire project i.e. start from finish (Baggini and et.al., 2018). Such that
projects are thoroughly planned and each stage is clearly structured, also each loose ends are also
neatly tied up when project concludes.