Strategic Resourcing and Talent Management

This report provides an in-depth analysis of strategic resourcing and talent management in the context of a music festival. It covers topics such as project management methodologies, stakeholder analysis, network diagram, and risk analysis. The report offers valuable insights for project managers and professionals in the field.

Strategic Resourcing and
Talent Management

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
Comparison and analysis of 3 project management methodologies. .........................................1
TASK 2............................................................................................................................................3
Network diagram showing the relationship between all the activities........................................3
TASK 3............................................................................................................................................3
Stakeholder analysis for internal and external stakeholder.........................................................3
WBS.................................................................................................................................................4
TASK 4............................................................................................................................................6
Risk Analysis for FIVE different risks........................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
All methods, concepts, techniques and procedures which are used and needed to arrange
and organise different task and activities of a particular event or project in desired way to finish
the work on allotted time is known as project management (Bluen, 2013). There are various steps
to be involved while managing a project such as planning, arranging, executing and proper
controlling of every activity.
This report is about a music festival at Bucks student union which is going to start on 15th
of July 2018 and includes number of activities. Three PM methodologies are compared with their
advantages and disadvantage, authentic network diagram with all possible relationship is
presented, effective stakeholder analysis is discussed in this report. In addition, Risk Analysis for
FIVE different risks is also discussed.
TASK 1
Comparison and analysis of 3 project management methodologies.
There have been number of PM theories with their benefits and drawbacks that can be
implemented within a particular event as per the requirement (Doherty and Dickmann, 2013). It
is needful for the project manager to analyse the suitability of implemented methodology so that
goals can be achieved in desired manner. Some of these are discussed below in the respect of
Musical Festival:
Agile Theory:
As per this methodology proper flexibility is provided within the project operation that
ease in flow of work. This also help the management and other team member to alter various
elements of project as per project convenient to complete task on exact deadline with maximum
benefits. Some of its usefulness and drawbacks are discussed underneath:
Benefits:
 This method of PM deliver flexibility in project operations that support to increase the
scope of creative work within operations.
 It includes invention and innovation within project activities structure that aids to
increase the usefulness of particular event in meanwhile.
Drawbacks:
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This methodology involves proper assessment on regular basis otherwise lead to negative results
so it is high-level hands on approach (Karatop, Kubat and Uygun, 2015).
 There are higher chances of failure of task because many time innovations are not
appropriate to be implemented and required lots of time and efforts which delay other
activities.
Waterfall:
This methodology basically works in the direction that risk must be identified and
resolved at initial stages of project for better outcomes. It primarily state that manager should
proper analyse every task very carefully at initial level and outline and design key parameters of
project. This help in eliminating risk at beginning making project more effective. Its advantages
and disadvantage are:
Advantages:
 It’s easy to implement and gives a suitable structure to project manager and team member
to look better into each task. This is useful in complex and critical stages of project.
Disadvantages:
This method does not provide proper flexibility to project activities so margin of error is high
(Reilly, 2018).
 It requires more time to be implemented as project manager has to closely look into each
aspects of event.
Scrum:
This approach is linked to high-end project adjustment that emphasis on the project's fast
and quick deliveries. In fact, it helps positively to the project as it increases the amount of
customer feedback that could be randomly listened.
Advantages:
 It is easy to be adapted which saves times and cost. Modifications after every feedback helps to increase the overall productivity.
Disadvantages:
 It is not easy to control as feedback have no specific time and date.
 The failure rate is more as compared to other methodologies.
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In this project Waterfall methodology have been implemented which help in providing
suitable advantages to the Buck's Union Student Musical event (Sparrow, Farndale and Scullion,
2013).
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TASK 2
Network diagram showing the relationship between all the activities
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TASK 3
Stakeholder analysis for internal and external stakeholder
In project management, it is very important to determine the key stakeholder and their
perspective that manager perform proper stakeholder analysis. In context of musical event the
several important stakeholder are discussed underneath:
Identification: Project Manager Employees Students Investors Government Suppliers
Classification
It is very important to classify each stakeholder in appropriate and effective manner
according to their interest and power. In the context of above discussed festival Mendelow's
power/interest matrix is used to classify the relevant stakeholder:
Power Stakeholders
High Government Project Manager/Investors
Low Suppliers Students/ Employees
Interest ―› Low High
As per the above analysis these stakeholders are assorted into 2 specific group:
Internal Stakeholders: Project Manager: Manager have high power and interest within the project those are
responsible to complete the work on appropriate time. Investors: These people invest suitable money within project and have high power and
higher interest in project work. Employees: Their power is low as manager use to allot work but have higher interest
which support in better performance and reaching of desired outcome in favourable time.
Student: These people are basically the audience of Music festival thus have a higher rate to
interest within project (Taylor, 2018).
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External Stakeholders: Suppliers: They use to supply various needed raw material and are more focused to sale
their goods. They have lower interest in project activities.
 Government: Manager have to execute each and every activity as per the laws and
regulation made by government. Therefore, governance have high power in executing of
project in a lawful manner but their interest is low.
Stakeholders responses Assessment
 Land Acquisition: For example, if the property appropriate for the operation is at a place
that environment protection problems arise, then considering consumers and
stakeholder’s wishes, staff and project managers will respond by adhering to
environmental laws and selecting the obvious location for the case (Turner, 2018).
 Supply Chain Regulations: Government controls the value chain legislation and
therefore, if the situation happens that he rules are not in the firm's favour, the buyers
should want fixed rates to be charged for raw resources, but the project leader will want
highly priced and good quality goods. Therefore, each of these stakeholders will react to
ensuring efficient contract-based raw materials that provide good value for money.
WBS
Stages Activity Description Time (Days)
Initial Budget Approval Proceeding approval from top
authority
1
Planning Hiring Director Selecting professional director
for complete project
10
Hiring Designer Selecting designer 14
Hiring Place for
Audition
Setting location 7
Advertising Making appropriate Promotion 7
Hiring Production
Crew
Developing event 28
Setting Design and Developing suitable Structure 42
6

Building
Training Providing appropriate training 12
Auditions Making audition 6
Rehearsal Performance checking 84
Hiring Orchestra Assigning Music team 7
Music Selecting most suitable music 7
Photography Crew Profiling 35
Information
Management
Maintaining records 1
Printing Producing Pamphlets and
Manuals
5
Implementation
Advertisement
Plan
Advertisement and promotion
Planning
7
Media Faithful media channel 21
Orchestra
Rehearsal
Practising of the music
performance again.
4
Ordering
Costumes
Suitable costumes set up. 7
Parade Seeing the comfort level and
performance desirability
5
Dress Rehearsal Final practice of student with
music and dress.
1
Closure Performance Overall performances in front of
student.
10
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TASK 4
Risk Analysis for FIVE different risks
Risks are events or contingency plans that may result in drawbacks or the full destruction
of projects in general. Therefore, the risk assessment is discussed below for the Bucks Student
Union Music Festival:
RISK SEVERITY MITIGATION
STRATEGIES RESPONSIBILITY
Infrastructural Issues HIGH
To minimize this risk,
efficient distributors
must be contracted in
advance to deliver
approved quality
products.
Event Designer
Accident HIGH
Adequate first aid and
emergency teams must
be kept available for
successful observance
of protective measures
in order to deal with
the same issue.
Safety Manager
Equipment Failure HIGH One of the key aspects
to ensure compliance
R&D Manager
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of machine results
must be material
testing. material
research.
Mismanagement of
performers MEDIUM
To ensure successful
performance
coordination,
preparation and
rehearsals must be
efficiently performed.
Project Director
Absenteeism LOW
To order to deal with
this possibility,
practitioners should be
employed on a zero-
hour and an urgent
basis.
Project Manager
The above-mentioned risks must be managed efficiently, thereby ensuring project
effectiveness. However, risk related to underdevelopment of facilities and incidents must be
analysed to a large degree with the deployment of safety management teams and the retention of
ambulances during event closure. In addition, effective equipment must also be recruited. In fact,
contract basis might be one of the most suitable approaches in the performers sense to ensure
continuity is managed properly within the performances (Turner, 2018).
CONCLUSION
Therefore, it is concluded that project management is one of the most productive things
to be discovered by persons who are needed to ensure the project preparation and proper
execution. Methodology comparison expands the complexity of choosing one of the most
successful and necessary techniques to begin the project. Furthermore, shareholder evaluation
helps to identify main project-related entities along with the degree of influence and involvement
they possess. Finally, managing risk is very essential to ensure that no contingency plans
interfere with the successful execution of the project.
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REFERENCES
Books and Journals:
Bluen, S., 2013. Talent management in emerging markets. Knowledge Resources Publishing.
Doherty, N. and Dickmann, M., 2013. Self-initiated and assigned expatriates: talent management
and career considerations. In Talent management of self-initiated expatriates (pp. 234-
255). Palgrave Macmillan, London.
Karatop, B., Kubat, C. and Uygun, Ö., 2015. Talent management in manufacturing system using
fuzzy logic approach. Computers & Industrial Engineering. 86. pp.127-136.
Reilly, P., 2018. Building customer centricity in the hospitality sector: the role of talent
management. Worldwide Hospitality and Tourism Themes.
Sparrow, P., Farndale, E. and Scullion, H., 2013. An empirical study of the role of the corporate
HR function in global talent management in professional and financial service firms in
the global financial crisis. The International Journal of Human Resource
Management. 24(9). pp.1777-1798.
Taylor, S., 2018. Resourcing and talent management. Kogan Page Publishers.
Turner, P., 2018. Attraction, recruitment and resourcing of talent. In Talent Management in
Healthcare (pp. 221-252). Palgrave Macmillan, Cham.
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