Project Management: Event Planning and Risk Management

This document discusses the process of event planning and risk management in project management. It covers topics such as the importance of a risk management plan, the PRIENCE 2 theory, and the process of organising an event. It also includes a sample project initial document, a work breakdown structure with 20 items, a risk register, and a risk management plan.

Project
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK ..............................................................................................................................................1
1. Sample project initial document..............................................................................................1
2. Work Breakdown Structure (WBS) with at least 20 items.....................................................3
.....................................................................................................................................................6
3. Risk register............................................................................................................................7
4. Risk management plan and PEIENCE 2 theory......................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................12

INTRODUCTION
Project management include event management in this individual or group of people
organized event at large level. These events include meetings, social occasions, ceremony,
formal gatherings, concerts, college events and so many events (Braglia and Frosolini, 2014).
Moreover, for organising event in proper manner there are several activities which project
manager have to include within there planning which are funding, programming, arrangement of
transportation system, arrangement of speakers and many other. The following report consist of
QA higher education which is about to arrange an event in college during September month in
fresher's week. For the arrangements of event, responsibilities are handover to manager of the
project for proper event management. Furthermore, for proper event management project
manager have to develop plan such as monetary fund, time required for its competition, hiring &
arrangement of staff, decide objectives, attract stakeholders and many more. In addition to this,
they design work break down structure major reason behind this is to manage event in proper
manner. The following report also include identification of short report that will exist in front of
project supporter, operational directors and so on. In the end it include analysis as well as
evaluate of strength and weakness of project by implementing PRIENCE model.
TASK
1. Sample project initial document
Title of Project:- Make the university more competitive and attract students.
Estimate Budget :- Budget given fore organising event is approx. £50,000 and it is
important to utilise this amount in proper manner so it can enhance competition at market and
attract students. This budget will be prepare for every activity which which going to take place in
event like construction or condition, foods and drinks, local and international market invitations
and so on. From funds most of the part will spend in promotional and advertisement activities as
well as rest on arranging foods and drinks.
Timescales :- It is related to duration which needed for conducting whole research
related to organising event in proper manner (Bucero and Englund, 2015). For completing and
organising events project manger need one month through which they plans and arranges all
necessary resources in effective way. Out of this, they need 20 days for promotions and
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advertisement activities. Together with this for about two days for booking event related things
such as providers for food and drinks, ambiance, speakers, mice etc..
Objectives :- The foremost objective of organizing an event is to attract students and
their friends for creating university more competitive. Hence,more student get attract from
different places i.e., London, Birmingham and Manchester for taking admission in QA higher
education university.
Approach :- It is related to factors which are needed for making event effectively. In
related to respective university project manager focusing on advertising and promotional activity
for attracting more and more learners from different areas (Burke, 2013). Source of
advertisement will be social media- face book, twitter, Instagram linked in and several other
social networking sites such as search engine or email marketing . Moreover, they are using print
media such as pamphlets, posters and many others.
Stakeholders Analysis :- There are several stakeholder such as providers, members partners,
directors etc. QA Higher Education categorize there partner within four parts i.e., Helper,
National and university supervisors, and providers explanation of these are as follows:- Donors (High power, high interest) - They are the people who expend there capital in
working and functioning of QA higher education university like alumni, employees,
executer, research councils and so on. All these people are involved in decision taking of
company. Manager also take participation in decision making and provide ideas for
enhancing profitability. Government (High power, low interest) - They are the stakeholders who have more
power within activities but low interest. Plans and strategies conducted by QA higher
education are developed by government. Activities and process of the university are most
likely to be affected by government. University Head (Low power, high interest) - University head are those person as well
as group of persons who have high interest within activities conducting but have low
power also (Fleming and Koppelman, 2016). Heads and board of directors of QA
education university have more interest and less power. In perspective of event which is
going to conduct in University.
 Providers (Low power, low interest) – Providers are one who supply material required in
event to QA Higher Education University. These stuffs include are eatables ,other
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educational institution , providers of books, stationery and many more. In relation of
event that will be conducted by QA Higher Education university providers demonstrate
suppliers of eatables, speakers, mics, tables, chairs and several others.
2. Work Breakdown Structure (WBS) with around 20 items
Work break down structure is framework which divide complex project within simpler as
well as manageable sections. This method utilise by project manager for simplifying project
execution because within this bigger task are decompose within controllable chunks of activity
(Fortune and et.al., 2011). Most important is that WBS is not restricted for particular field when
it is applying as it can be use in any type of project management. In respect of QA Higher
Education University Project manager divide entire activities in small portions of 20 activities
which are as follows :-
1. Establish Objective – Analyse and enact proper goal for QA Higher Education
university related to what they want to convey their public related to there advance
technology classrooms and computer lab.
2. Market research - Respective university have to do market analyses for identifying
actual audience from domestic as well as other places of nations.
3. Assortment of appropriate ideas – Its major objective is to to conduct selection
practices in which most appropriate candidate needs to be short listed who has required
capabilities.
4. Develop plans of activities - While organising event several activities will take place so
it is necessary for project manager to develop plan for these activities.
5. Making of promotional and advertising actions – The university knows their targeted
customers hence, they will be able to do promotional as well as advertising activities.
6. Up date Websites – It is mandatory to update websites for the people who visit after
going through advertisement of university.
7. Perform analysis - After conducting promotional and advertising activity its time to
analyse the ratio of people who get attracted towards respective organization.
8. Assess Conclusion – Meeting with higher authorities are done for evaluating
effectiveness of decision.
9. Market Practicability: It is process of analysing effectiveness of ideas.
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10. Demand Prediction – The respective will do demand and need forecasting for
performing events in effective as well as correct manner.
11. Collection of data - Within this stage QA higher education university will gather
appropriate information which needed for respective event.
12. Calculation of data – Evaluation of data is done for doing further activities in an
effective manner.
13. Evolve Budget - After evaluating gathered information and data the mentioned
university will design budget in impelling way for proper utilisation of available
resources.
14. Set activities accordingly - Within this stage project manager will conduct evaluation as
well as set activities as per the budget within effective and proper way.
15. Finalising Ambiances – Booking of ambiances is done according to their audience.
16. Designing of invitation cards - Then respective university will develo invitations for
students and their peers as well as for other colleges and university.
17. Booking of caterers – Booking of caterers are done according to the strength of
audiences.
18. Ask for media - Respective university have to invite media for promotion and
advertising their classrooms as well as computing devices labs. Such practices will help
them in grabbing eyes of several learner.
19. Hire bloggers - QA Higher Education university will hire bloggers as well as writers for
promoting as well as advertising there events.
20. Identifying effectiveness – Audiences are ask for giving feedbacks and suggestions for
analysing effectiveness of event.
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3. Risk register
Risk register is tool and technique which an organisation utilise for identifying risk as
well as for development of risk management plan in effectual manner (Hanisch and Wald, 2011).
Below mention is risk register in relation of QA Higher Education University :-
Risk Mitigation
Action
Contingency
Action
Pre action score
(Out of 10, where
10 is high risk and
1 is low)
Post action score
(Out of 10, where
10 is high risk
and 1 is low)
Product which
required in event
get delay in
delivering.
To minimise
chances of such
risk it is
important to
prepare
agreement in
which it has
been mention
that delay in
product delivery
as taken as legal
action. As
respective
university can
take action
If such situation
will occur there
will be
requirement of
some alternative
plan. Thus,
project manager
have to design
alternative Plan B
to minimise its
negative impact
on plan.
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against them.
Need of
Individuals not
match with
organisation
goods
State of change
in student
requirements
occur then it is
necessary to ask
for demand and
more facilities
(Kerzner and
Kerzner, 2017).
Manger of project
of respective
university have to
decide for
updating there
facilities as well
as strategies as
per student
demand which
will identify by
taking feedbacks.
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Increase in
requirement of
resources result
in fluctuation
within budget or
cash flow.
In this project
manger manage
as well as design
appropriate
strategies for
distributing cash
within effective
and appropriate
manner as per
the requirement
of activities
(Ramazani and
Jergeas, 2015).
To tackle this
situation in
effective and
appropriate
manner respective
university project
manger have to
take loan from
bank or any other
financial
institution for
short term.
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4. Risk management plan and PEIENCE 2 theory
(a) Risk Management Plan
Risk management plan is method or technique which an organisation adopt for analysing
risk within effective manner so they can build plans in effective as well as suited way. With the
assistance of this approach company will be able to analyse and minimise risk factors for
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achieving objective of particular task in effectual way (Kerzner, 2013). In addition to this,
through risk management plan company analyse risk in advance and able to save there money as
well as risk in acquiring waste. Advantages of risk management plan is mention below along
with the impact of ignoring risk :-
 Analysing risk :- By implementing risk management plan within there working an
organisation will be able to analyse danger on effective way. Such practices will provide
assistance in developing strategy related to risk management in better manner. As per this
project manager of QA Higher Education University will analyse micro and micro both
factors so that strategies as well as policies will be develop in appropriate manner.
 Assure high quality work :- With the help of risk management plan an corporation will
be willing to manage risk which result in building strategy and completing work within
effective manner. Through this project manager of respective university design idea,
policies, regulation and strategies which help in saving time as well as resources while
starting task. Moreover, with the assistance of such methods events will organised and
there objectives will achieve in proper manner.
(b) PRIENCE 2 Theory
It is an theoretical framework which organisation utilise when they are conducting any
project. PRIENCE 2 theory mainly emphasise on three features of events, dominanting of event
from starting to its ending as well as completion of project in better manner (Meng, 2012).
Through respective framework project manager of University strength and weakness will analyse
explanation of these are as follows :-
Strength :-
 Predictable :- By implementing PRIENCE 2 theory respective University project
manager will be able to predict things plus risk within effective way. With the assistance
of this they will be able to develop strategies within proper way.
 Time and Cost Effective :- By following method respective University will be able to
completed procedure or project within required time duration and budget. This help in
making overall event effective and efficient.
 Standardisation :- PRIENCE 2 theory will minimise or decrease chances of
misdirection as well as miscommunication. Such practices will leads in achieving goals
and objectives of company within appropriate manner. Thus, by implementing this
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theoretical framework Company will be able to organise event in effective as well as
appropriate manner.
Weaknesses :- Along with the strengths there are some weakness of PRIENCE 2 theory
explanation of these are as follows :-
 Complex :- PRIENCE 2 theory is difficult as well as complex in adopting because of
which less people implement it within their working (Meredith and Mantel, 2011). Thus,
for implementing within framework in working QA Higher Education University have to
spend more funds because there is requirement of training for staff members so they will
be able to work on it.
 Not realistic :- Within PRIENCE 2 theory some steps are not real which will not assist
in uncovering risk within effective and appropriate manner. Because of all these reason
respective theory is not regard as real approach.
CONCLUSION
After going through entire discussion it has been concluded that for an organisation
planning event is essential which include several activities like market analysis as well as
identifying potential customers. In addition to this, with the assistance of proper planning
company will be able to develop strategy, plans and prepare budget within effectual manner. For
an corporation it has been recommended that they have to adopt PRIENCE 2 method because it
will help in identifying strength as well as weakness of project in effective manner. Moreover, it
is responsibility of manager to analyse resources and staff if it is require then they have to frame
strategy according to that and modify existing. This is essential to create risk management
program which is possible after identifying hazards and develop strategy in relation to it.
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REFERENCES
Books and Journal
Braglia, M. and Frosolini, M., 2014. An integrated approach to implement project management
information systems within the extended enterprise. International Journal of Project
Management. 32(1). pp.18-29.
Bucero, A. and Englund, R.L., 2015, October. Project sponsorship: Achieving management
commitment for project success. Project Management Institute.
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Fortune, J. and et.al., 2011. Looking again at current practice in project
management. International Journal of Managing Projects in Business. 4(4). pp.553-
572.
Hanisch, B. and Wald, A., 2011. A project management research framework integrating multiple
theoretical perspectives and influencing factors. Project Management Journal. 42(3).
pp.4-22.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Meng, X., 2012. The effect of relationship management on project performance in
construction. International journal of project management. 30(2). pp.188-198.
Meredith, J.R. and Mantel Jr, S.J., 2011. Project management: a managerial approach. John
Wiley & Sons.
Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International
Journal of Project Management. 33(1). pp.41-52.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
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