Bucks Student’s Union Music Festival: Project Management Methodologies

This report delves into the application of project management principles to the Bucks Student’s Union Music Festival, examining various methodologies such as Waterfall, Agile, and Prince2, and their suitability for different project scenarios. A network diagram is developed to track project elements, followed by a stakeholder analysis matrix identifying key stakeholders and their influence. The report includes a work breakdown structure, outlining the tasks required for the music festival's success. A comprehensive risk analysis identifies potential risks, including security, cancellation, park-related issues, budget constraints, and stage risks, along with corresponding mitigation strategies like risk transfer, acceptance, avoidance, control, and reduction. The conclusion emphasizes the importance of risk management in project completion and recommends proactive risk mitigation strategies for efficient project execution. Desklib provides access to this and many other solved assignments for students.

Project management

Table of Contents
INTRODUCTION...........................................................................................................................1
Three project management methodologies.................................................................................1
Development of the network diagram.........................................................................................3
Stakeholder analysis and work break down structure.................................................................6
Risk analysis for the music event................................................................................................9
Risk mitigation strategy ...........................................................................................................10
CONCLUSION..............................................................................................................................11
References:.....................................................................................................................................12

INTRODUCTION
Project management is a process of leading the team work with the aim to attain all the
project goals in given constraints (Amorim and et. al., 2021). Such information is generally
defined in the project documentation, created at beginning of the process of development. In this
report the chosen event is a musical festival ( Bucks Student’s Union Music Festival) to ensure
the student's views on wide range of the issues and topics. Therefore, this report is going to cover
the project management methodologies, network diagram of the given activities, stakeholder
analysis, risk analyse and different strategies to overcome the risk.
Three project management methodologies
Water fall methodologies
It is a traditional and oldest methodologies of the project management. It is default and
sequential project management procedure which most team adopt by the default. This strategy
work in steps mentioned below:
 Planning
 Analysis
 Design
 Implementation or development
 Testing
 Deployment and maintenance
In this, every stage of a project flows from top to bottom (Lima and et. al., 2021). It require the
teams to work through tasks in the sequences, completing on activity before moving in next, all
the way of to the project completion.
Advantages
 Elaborate documentation is done at each stage of the development cycle of the software
 Change in the software can be made during the development process.
 Project is totally dependent on the project team with the minim customer intervention.
Disadvantages
 Small error or changes that arise in completed software can cause various issues.
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 Valuable feedbacks of the clients can not be included with the ongoing development
stages. It is not so desirable for a complex project in which requirements changes frequently.
Agile methodology
It is an incremental and iterative framework which uses the short development cycles
called sprints for focusing on the continuous improvements in development of any product and
services. It is a practice of promoting an iterative, incremental and collaborative approaches to
the project management.
Advantages
 In this methodology, more attention is paid to good design of a product.
 Customer's feedbacks are accommodated in current release of product
 changes in requirements can be accepted even in later phase of the development.
Disadvantages
 It is difficult to measure the progress since agile framework deliver in the increments.
 It is very challenging to implement since the individual naturally resist any change
 It is not easy to predict the efforts such time, resources and cost at beginning of a project.
Prince 2
It is extremely focused on the organisation & control. It is extremely linear and
procedure based methodology of the project management, that make it good beginner
methodology (Pal, 2022).
Advantages
 For a better accountability and communication in a project, Prince 2 methodology is very
effective and suitable.
 It pay more attention on the output and provide continuous improvement so that progress
and outcome are guaranteed.
Disadvantages
 At every phase, there is a lode of the documentation to update and maintain.
 There is lack involvement of the time due to which it is inevitable slow down the
projects.
 It need much documentation across the project life cycle, from the start to finish.
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Development of the network diagram
It will help the project manager in tracking all the project related element timely. It will
help in knowing that which activity need more and less time. In relation to the Bucks Student’s
Union Music Festival, its network diagram is below:
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Stakeholder analysis and work break down structure
The stakeholder analysis matrix cover both the external and internal stakeholders. This
matrix is used by the organisation to identify their stakeholder and their power to interfere in the
organisational function (Pletneva. and Noskova, 2021). In relation to the Bucks Student’s
Union Music Festival, this matrix is discussed below:
 High power, extremely interested- These stakeholders are fully engaged and company
make greatest efforts in order to satisfy them. In relation to the Bucks Student’s Union
Music Festival, the management team is comes under this category.
 High power, less interested- company put adequate work in with such stakeholders for
keeping them satisfied,but not make them bored. In context of Bucks Student’s Union
Music Festival, audience are come under this classification.
 Low power, extremely interested- Company inform the stakeholder and ensure that not
big issues is arising (Ruiz Zuniga and et. al., 2021). In context to the Bucks Student’s
Union Music Festival, worker are comes in this classification of the stakeholder.
 Low power, less interested- In this, company monitor the stakeholders, but do not bore
them with any kind of the excessive communication. In relation to the Bucks Student’s
Union Music Festival, suppliers are included in this category.
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Work breakdown structure
It is a project management tool used step by step in order to complete a large project with
various moving pieces. In relation to Bucks Student’s Union Music Festival, its work down
structure is mentioned below:
Event management team
 Identification requirement of the music event
 Determination number of the require participant
 Establish a schedule
Promotion
 Design the advertising
 Print posters
 Distribution of posters
Tickets
 Design the ticket
 Print the tickets
 Distribute the tickets
The park
 By the material
 Paint booth
 contact the suppliers
 Deliver the suppliers
 Decorate the park
The stage
 Set up the stage
 Rent equipment
 Setup the equipments
Performer
 Contact the performers representatives
 Coordinate the performer arrival
 Sound checks
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The events
 Assign the coordinator
 Start the event
 End the event
Risk analysis for the music event
It is a process of identifying the potential risk which impact the project negatively. In
relation to the Bucks Student’s Union Music Festival, its risks are identified below:
Severity
Likelihood 1 2 3
1 Low
-1-
Low
-2-
Moderate
-3-
2 Low
-2-
Moderate
-4-
High
-6-
3 Moderate
-3-
High
-6-
High
-9-
 Security- It is moderate level risk as music event has sadly shown, a large scale audience
event, therefore, the event organisation need to escalate the security budget and efforts at
the event ( Selvan Christyra and et. al., 2021).
 Cancellation risk- This risk is a high level risk. due to any reason such as weather
change, event have to be cancelled, then in this case management may suffer a high loss.
 The park risk- This risk is low level. This risk can occur due to shortage of the material,
change ion the requirements, shortage of workers and late delivery of the suppliers.
Budget risk- This risk is a low level risk. Main reason of this risk is work estimation of
the budget, emerging new requirements and many more.
 Stage risk- This risk is a moderate level risk. It can occur due to the unavailability of the
equipment timely, lack of proper resources and many more.
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Risk mitigation strategy
 Risk transfer- In this budget risk can be eliminated. In relation to the Bucks Student’s
Union Music Festival, if they face any issue regarding the finance then this risk can be
hand over to the finance team so that an accurate estimation can be established.
 Risk acceptance- It understand probability of happening and accept the consequences. It
is best when risk is unlikely to happen. Therefore, this strategy is suitable for the
cancellation or weather risk as this strategy make a sense to adopt such risk.
 Risk avoidance- It means not such activities that can create any kind of the risk (Viloria,
Lezama, and Cabrera, 2021). Risk of the park side can be handles by this strategy as to
arrange the material properly in adequate quantity this risk can be eliminated.
 controlling risk- It refers to the methods and process of control the risk. In relation to the
Bucks Student’s Union Music Festival, the security risk can be control by making the
security arrangement more tight and paying more attention on the security equipments.
 Risk reduction- It is most common strategy as there is usually a way to reduce the risk.
In relation to the Bucks Student’s Union Music Festival, the stage risk can be eliminated
by organisation all the equipment in required number and pre arrangements of all the
significant resources.
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