BM522 Project Management Report: Music Festival Case Study Analysis

This report analyzes the project management aspects of the Bucks Student Union Music Festival, covering various methodologies like Kanban, CPM, and Waterfall. It includes a project network diagram to visualize task dependencies and durations. The report also features a stakeholder analysis, identifying key stakeholders and their roles, along with a communication plan to ensure effective information dissemination. Furthermore, a risk analysis is conducted to identify and mitigate potential risks, such as financial constraints, time delays, and technical issues. The report concludes by emphasizing the importance of choosing appropriate project methodologies, effective stakeholder communication, and proactive risk management for successful project execution. References to relevant literature are provided to support the analysis and findings.

Project Management

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Project management methodologies along with advantages and drawbacks.........................3
TASK 2............................................................................................................................................5
Project network diagram.........................................................................................................5
TASK 3............................................................................................................................................6
Stakeholder analysis...............................................................................................................6
TASK 4..........................................................................................................................................11
Risk analysis.........................................................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Project management is defined as a practice of initiating, effective planning, implementing,
controlling as well as completing the particular task in order to achieve desired goals and
objectives (Heldman, 2018). The project manager implement activities consider the factors such
as budget, cost and time as well. The present report is based on Buck’s Union Music Festival. It
is an event going to organise in order to celebrate success of Alumni. In order to implement all
the activities in the affective manner various project methodologies is adopt that is describe in
the report. In addition to thus, there is analysis of risk associated with the Music festival in order
to execute all activities and decline the level of risk in an effective manner.
TASK 1
Project management methodologies along with advantages and drawbacks
The project management methodologies allow managers to implement task in an effective
and proper manner. It also help in completing the task on time and achieve specific goals. The
different project management methodologies is given below:
Kanban- It is basically a project planning approach that include all the activities from
starting to the end-user. In addition to this, it allow project manager to optimally utilise all the
resources in an effective and proper manner.
Critical path method- It is an approach that breakdown all the activities of project into
smaller and simpler activity, which is easy to implement. This project methodology is used by
the project managers in order to divide the large project into easier manner so that completion of
project take place timely and effectively as well.
Waterfall- This method is consider as one of the oldest methodologies that include six steps
in order to complete the project. The activities are collection of information, designing of system,
collection of tools, testing and deployment. By following the procedure, it is easy for project
manager to complete the project on time and attain positive outcome as well.
Basis Advantages Disadvantages
CPM  This strategy assist in completing
the project efficiently and timely.
In addition to this, it does not
 This project methodology is not
suitable for the projects, which is
large.

occur cist to the project
managers.
 This method involve activities
associated with the time and cost
as wee, which is easy for project
completion.
 The project manager require
adequate skills in order to gain
understanding about the process
of this method.
Kanban  This project manager help in
declining the level of waste that
has a positive influence on
productivity and profitability of
the organisation.
 By the assistance of this, a
project manager is able to
complete all activities effectively.
 This method is not suitable for
the complex environment.
 In addition to this, it is not
suitable for projects that include
various sub activities.
Waterfall  This approach is beneficial in
order to determine goals as well
as expectations.
 The stages involve in waterfall
methodology is help in
implementing for both small and
large projects as well.
 It is determine that for
implementing large projects, this
method is not applicable properly.
 Waterfall method is not versatile
and because of the productivity
declines.
From the above discussion, it is analysed that critical path method can be adopt in order to
coordinate the project named as “Buck’s student”. This method allow to breakdown all the music
festival activities in an effective manner, due to which goals can be achieved on time frame. In
addition to this, the reason to choose CPM project methodology is, it is effective as well as
suitable in any type of project whether it is small or large. The all other approaches mentioned
above is suitable for small projects and the music festival that is going to be organise is large.

TASK 2
Project network diagram.
This diagram assist a project manager to focus on all the activities in an effective manner.
It allow manger to plan for the activities along with the time duration so that it can be completed
on the time frame (Fleming, 2019). In addition to this, it link all the activities from starting to the
completion of project with a right directions. Moreover, it allow to use all the resources
optimally and out the positive outcome that leads to the projection completion effectively as well
as timely.

TASK 3
Stakeholder analysis
Stakeholders are employees, customers, suppliers, buyers, shareholders and other people
who is associated with the particular project. By the assistance of this approach, the shareholders
gain knowledge about the project activities and the estimate results can be calculated by
shareholders in an effective manner. The key steps of stakeholder analysis is described below:
Step 1: Herein, all the shareholders associated with the project is identified as well as
characterised. In the present project, the stakeholders are mangers, higher authorities and
students as well.
Step 2. In this stage, the stakeholders associated with the project are characterised, which are as
follows: High power, high interest: These stakeholders take part in activities and actively involve
in the project in order to gain success. For example, students High power, low interest: They have the power to take decision of project but are not
interested in implementing project. Low power, high interest- They are the stakeholders who has the interest and have no
right in decision-making.
 Low power, low interest- These people have no interest and have power associated with
the project decision-making.
Step 3: This step take place after the completion of above steps properly, it is important that all
the stakeholders is aware of the objectives and completion time of project.
Stakeholder matrix: This method is used at initial stage of project so that shareholders
can participate in all the activities related with project on order to complete the project on time.
INVOLVEMENT LEVEL
POWER LEVEL HIGHER LOWER
HIGHER College students,
Management team
Government
LOWER Suppliers Students, belongs from

other university.
Communication plan- It is defined as an effective strategy that help managers to convey and
communicate the goals and objectives of project to the stakeholders, shareholders and other
people associated with the decision-making of project.
Communication Kind Conference and Tea, discussions.
Communication Objective To communicate all the activities of project in order to
implement it in effective and timely manner.
Medium Online medium such as e-mail
Face-to-face communication
Frequency According to the requirements
Audience Group members, project managers and students
Project Work Breakdown Structure- This method is used by project managers in order to
break down the whole work into an understandable and easier manner. In addition to this, it also
assist in dividing the task along with the time project considering project completion duration.

TASK 4
Risk analysis
It is a tool which assist in identifying and gaining the knowledge about the risk associated
with the project. In addition to this, it allow project managers to decline the level of risk and
develop effective strategies as well.
Risk Risk
Level(L/M/
H)
Likelihood
of events
Mitigation strategy
Financial risk- one of the
major risk associated with the
project is financial risk as it is
important to complete the
project within the budget.
Change in the cost of raw
material directly impact on the
budget develop for project.
Medium Possible to
occur
It is important to estimate the
appropriate amount of expenses so
that there no lack of funds to
implement activities.
Time duration of project- It is
a possibility that project
cannot be completed on the
given time period.
High Depends on
certainty.
It is important for project
managers to use work breakdown
structure that help in completing
activities on time frame.
Estimated cost: There is
possibility that cost estimation
is wrong and at the end
expenses is high.
Low This can be
unlike.
By the assistance of critical path
method, the project manager can
estimate cost of all the activities
and operations in an effective
manner.
Availability of project team-
This risk is associated with the
knowledge level of team
Medium Possible to
occur
It is important for project
managers to evaluate performance
of team members and the activities

members and how effectively
they can finish the project. If
the members is inefficient,
then project might be delay
and occur high cost as well
implemented by them on a
continuous basis.
Technical risk- There is
possibility of technological
risk that directly impact on the
overall project.
Medium Possible to
arise
In order to decline this risk, it is
essential for project mangers to
have technical experts who can
handle these risk in an effective
manner.