Project Planning: A Project on the Charity Event

This project planning focuses on determining the time and cost consumptions for a charity event. It includes an overview, cost management, time management, and risk management.

PROJECT PLANNING: A PROJECT ON THE CHARITY
EVENT
Student name:
Student ID:
Professor name:

Table of Contents
Introduction:....................................................................................................................................2
1. Project overview:.........................................................................................................................2
2. Project cost management:............................................................................................................4
3. Project time management:...........................................................................................................6
4. Project risk management:............................................................................................................0
Conclusions:....................................................................................................................................2
Reference list:..................................................................................................................................3
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Introduction:
The current projection deals with the planning of a new project on the charity event where the
main objective of the project planning is to determine the time and cost consumptions for the
current projection options. Moreover, another aim of this project planning is to understand the
scenario of the project and essential requirements for the same to successfully execute the same.
Initially the planning reports has entailed the overview on the projections with introductory
specifications and assumptions followed by the cost and time planning of the same to acquire the
critical resources. Latter phase delivers the number of risks, associated to the project with the
possible trigger of the same.
1. Project overview:
Definition:
The project is all about organizing a charity event to raise fund for a social contribution. The
event has been planned from the London School of Business and Management. The institute may
donate the fund, raised from the event to a charity organization working for the old age home or
orphanage homes. In this context, Kerzner (2013) cited that fundraising activity would face
severe obstacles as the people in the region might not participate in such activities. Therefore,
London School of Business and Management need to focus on the optimization of resources to
avoid unnecessary debts for planning costs.
Rationale:
The current project consists of the planning for a new charity program through a fund raising
activity. As mentioned above that the institute has aimed to conduct the activity for a social and
environmental sustainability and further improvement of the economy through proper investment
planning. In this context, Schwalbe (2015) stated that charity program also create a fair and
ethical framework in the association that in turn would deliver the positive image of the
institution among its stakeholders. Therefore, planning report of this fund raising activity would
deliver a detailed understanding on the required resources for the projection and time schedule of
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the projection. Therefore, the current report will improve the understanding on the cost and time
management among the students and other staffs, associated to the current projection.
Constraints:
The project involves scheduling of its action plan to start and finish the same within required
time constraints. Moreover, the project report will also deliver a detailed cost breakdown
structure to produce an in depth information on the cost constraints. Apart from the same,
Wheeler et al. (2017) stated that scope management plan is the prime constraints to understand
the opportunity and limitations of the projections for construction of the project framework.
Thus, the current report has incorporated all these three components to produce a reliable and
valid project planning to execute the same towards meeting the project objectives.
Assumptions:
Following are the assumptions for the current projections on which the latter time and cost
estimation will be conducted.
 The cost factors for the project planning and projection will remain same over the time
 The expenditure movement will be minimal and negligible
 The resources for the projection will be eased to acquire
 The funds for the project planning and execution will be easily acquired
 All activities in the project planning will be started and finished within time
 Budgeting outcomes will be produced on the current requirements and demand
Project charter:
Background:
London School of Business and Management has aimed to organize a fund raising event at the
year ending whereas the key objective of the projection is not clearly stated. Thus, the aim would
be social development and improvement of the livelihood of needy people in the target region.
Goals:
Scope:
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Key stakeholders:
Donors: The people investing money in the charity would be a stakeholder for the projection.
Sponsors: Sponsors of the event will donate the capital to organize the activities against the
promotion of that sponsor.
Project manager: Project manager will supervise the monitor the entire process to ensure the
compliance of its framework and specifications.
Project team: Being performers, the project team members in terms of the students and other
people, voluntarily associated to the projections.
Project milestones:
The project will start on 7th May 2017 and end on the same day as the project is a single day
event.
Project budget:
The total budget to meet the cost requirement of the projection is £2017
Constraints:
Budget breakdown structure, milestone, schedule, Gantt chart and risk management matrix
Assumptions:
Fixed budget, minimal external influence, meeting the schedule properly and minimal risk
factors.
Risks:
Lack of fund, inadequate resources, volatile external factors and delay in schedule would be the
key risks of this projection.
2. Project cost management:
Resource analysis:
Resource involves funds, workforce, plants, machineries and other equipments, used in the
project planning and execution of the plan. In this regards, Mansor et al. (2016) cited that
resources are crucial factors to plan and implement the planning to generate the project
deliverables. The resources for the current projection of fund raising activity involves sufficient
fund for cost compliance, adequate number of staffs to execute the charity program and the
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equipments required to collect fund. In case of the workforce, some students of the school and
other staffs of the institute would be the key participants to collect the donations and pre-project
planning. On the other hand, the funds for the event would be collected from the sponsors where
the same would require a promotional conveyance to its key audiences on behalf of the sponsors.
Budgeting:
Budgeting refers to development of the cost structure based on the requirements and current
market scenario in terms of the value of equipments and price of resource acquisition. In the
opinion of Smith (2016), budgeting involves a detailed breakdown structure of the required
expenses in the planning and implementation process. Based on the current project of fund
raising event, following is the cost breakdown structure incorporating all expenses, required for
the projection planning and execution.
Particulars Costs
Planning phase:
Idea generation 53
Communication with school authority 105
Documentation of the event 260
Approval from the government 153
Acquisition phase:
Meeting with the sponsors 590
Costs of funding from sponsors 205
Purchase of raw materials and equipments 150
Planning for activities 89
Cost distribution 102
Selection of participants 125
Execution:
Preparation of slogans and festoons 77
Final action on charity 108
Cost control:
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According to the above cost breakdown structure, the projection has met the target budget for the
current projection. Therefore, the responsible finance manager and project managers are liable to
use the costs effectively without misuse of the same. In this context, Potts & Ankrah (2014)
stated that cost control in the project management is a necessary activity to optimize the cost
factors and minimize wastage of resources. In that case, the workforce for the project planning
and execution would be from the institute to reduce or minimize the staffing cost. Moreover,
before the expenses are taken place, the project manager is responsible to project the costs and
activities based on the exact requirements to minimize the wastage of funds and other resources.
3. Project time management:
Gantt chart:
Gantt chart reveals the schedule of the entire projection with the indication of its completion
within time. Moreover, Gantt chart also breaks down the activities under the projection to
indicate the time consumption for individual tasks and activities. On the other side, Fang et al.
(2015) mentioned that being a potential scheduling tool, Gantt chart discloses the information on
the start and end of individual tasks and the entire projection to reveal the probable changes in
the schedule of the project. Following is the list of activities for the current projection along with
the probable time consumptions and sequence of performing the same.
No. Particulars Duration Predecessor
1 Planning phase:
2 Idea generation 2 -
3 Communication with school
authority 2
2
4 Documentation of the event 7 3
5 Approval from the government 30 4
6 Acquisition phase:
7 Meeting with the sponsors 2 5
8 Costs of funding from sponsors 3 7
9 Purchase of raw materials and
equipments 10
8
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10 Planning for activities 15 9
11 Cost distribution 5 10
12 Selection of participants 8 11
13 Execution:
14 Preparation of slogans and
festoons 7
12
15 Final action on charity 1 14
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No. Particulars
wk
1
wk
2
wk
3
wk
4
wk
5
wk
6
wk
7
wk
8
wk
9
wk1
0
wk1
1
1 Planning phase:
2 Idea generation
3
Communication with school
authority
4 Documentation of the event
5 Approval from the government
6 Acquisition phase:
7 Meeting with the sponsors
8 Costs of funding from sponsors
9
Purchase of raw materials and
equipments
10 Planning for activities
11 Cost distribution
12 Selection of participants
13 Execution:
14
Preparation of slogans and
festoons
15 Final action on charity
Figure 1: Gantt Chart
(Source: As created by author)

Network diagram:
Network diagram delivers the way that the project activities are working on a certain sequence
and therefore, indicating the total duration of the entire project. On the other hand, Mubarak
(2015) cited that network diagram steers the project planning through a certain way that
consumes minimal time to complete the project. On the other hand, Naber & Kolisch (2014)
opposed that network diagram also reveals the longest way of performing the tasks, in order to
cover major activities as planned in the project. In this context, Fang et al. (2015) cited that
forward and backward are two potential duration determination technique to determine resource
optimization.
Critical path analysis:
Critical path refers to the shortest path of the project that consumes the minimum time and cost
constraints. As all the activities are sequenced according to the activities, the critical path of the
current projection is the entire list of activities in the same sequence.
4. Project risk management:
Risk identification:
In context of the current project management specifications, following are the risks, associated to
the project causing severe obstacles in success of the execution process. In that case, Mubarak
(2015) stated that identification of the risk is one of the crucial phase where the project
management team and the supervisors of the projection are liable to identify the potential risks
causing significant losses in the project deliverables. In context of the current projection of fund
raising events, probable risks are lack of funds, lack of sufficient resources, time consumption
fluctuation and proficiency of the staffs to perform on the requirements.
Risk analysis:
As mentioned in the previous section, the risk factors would influence the company to face some
sound obstacles and barriers hindering the existing process of the project execution. In the
opinion of Naber & Kolisch (2014), lack of sufficient fund would create the barrier in the

planning and acquisition process. Apart from the fund inadequacy, delay in the project task
completion would delay the completion of the entire project execution.
Risk matrix:
Risks Causes Effects Severity Impact Response
Lack of fund Poor
budgeting and
improper
forecasting of
future costs
Obstacles in the
operational flow
of project
execution
3 5 Effective secondary
research and
estimation of future
requirements
Lack of
sufficient
workforce
Unavailability
of volunteers
and efficient
participants
Overburden to the
existing
participants and
hindrance in the
flow of operation
2 5 Selection from the
internal workforce
and outsource from
volunteer
organizations
Delay in task Improper
management
of the
activities
Increase of
unnecessary costs
and time
2 4 Proper task
estimation and
inclusion of time
buffer in scheduling
Loss of assets Improper
handling of
the assets and
other
equipments
Loss of value and
financial benefits,
increase of
unnecessary costs
2 3 Training to the
volunteers and skill
development of the
participants
Market
uncertainty
The market
volatility is
not controlled
by the project
management
team
Influencing the
project
deliverables
4 5 Effective
prevention to resist
the project
deliverables from
severe losses
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Conclusions:
From the above discussion and explanation of the project specifications, it is clear that the
project has aimed to raise fund for social activities and improvement of the needy people. In that
case, the total amount as budgeted in the project is not adequate as the cost allocation in this
project would need more money for further process. However, the project manager needs
optimize the costs in the planning and execution to complete the projection within allocated costs
and time. Moreover, risk management needs proper attention as some of the risks are controlled
by the market that would affect the project in terms of unnecessary delay or increase of the
unnecessary costs.
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Reference list:
Fang, C., Kolisch, R., Wang, L., & Mu, C. (2015). An estimation of distribution algorithm and
new computational results for the stochastic resource-constrained project scheduling
problem. Flexible Services and Manufacturing Journal, 27(4), 585-605.
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling
Mansor, Z., Razali, R., Yahaya, J., Yahya, S., & Arshad, N. H. (2016). Issues and Challenges of
Cost Management in Agile Software Development Projects. Advanced Science Letters, 22(8),
1981-1984.
Mubarak, S. A. (2015). Construction project scheduling and control. John Wiley & Sons.
Naber, A., & Kolisch, R. (2014). MIP models for resource-constrained project scheduling with
flexible resource profiles. European Journal of Operational Research, 239(2), 335-348.
Potts, K., & Ankrah, N. (2014). Construction cost management: learning from case studies.
Routledge.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Smith, P. (2016). Global Professional Standards for Project Cost Management. Procedia-Social
and Behavioral Sciences, 226, 124-131.
Wheeler, J. C., Nance, S., Diaz, M., Smith, S. G., Hickey, J., Zhou, L., ... & Fowler, J. M.
(2017). The Betelgeuse Project: constraints from rotation. Monthly Notices of the Royal
Astronomical Society, 465(3), 2654-2661.
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