Comprehensive Project Plan: Auction Fundraising Event Management

This report outlines a detailed project plan for managing an auction fundraising event. The project scope defines the event's objectives, constraints, and assumptions, including budget, venue, and timeline. It covers project cost management, including resource analysis (human, financial, and venue), and revenue projections. The report also addresses project time management, utilizing Gantt charts and network diagrams for scheduling and task dependencies. A significant portion is dedicated to project risk management, encompassing risk identification, analysis, and control strategies, such as addressing lack of coordination and safety concerns. The report concludes by emphasizing the importance of project management methodologies for business firms, highlighting the need for proactive risk mitigation and continuous assessment. References to relevant literature are also provided.

MANAGING OPERATIONS AND PROJECTS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Project scope...........................................................................................................................1
Project cost management........................................................................................................2
Project revenue.......................................................................................................................4
Project time management.................................................................................................................5
Gantt chart..............................................................................................................................5
Network diagram....................................................................................................................5
Project risk management..................................................................................................................7
Risk identification..................................................................................................................7
Risk analysis...........................................................................................................................7
Risk matrix.............................................................................................................................8
Risk control............................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................................10
Table 1 Project revenue...................................................................................................................4
Figure 1Gantt chart..........................................................................................................................5
Figure 2Network diagram................................................................................................................6

INTRODUCTION
In this plan the number of activities will take place in order to fund an event. The project
will created in which the budget, resource analysis, risk analysis , risk management etc will be
done regarding the managing of this event. Also the project plan will be made in order to
implement this event.
Project scope
Definition – The auction fund raising event will be managed in this project .All the things in the
context of the project that is the time, cost, data and venue etc will be discussed.
Rationale- This will be important as all the day to day activities that is been done in this event
will be disused in this project. The potential risk that will be there in the auction events will be
presented and also the ways in which this risk can be minimized will also be found. The roles of
other members in this project that is project manager, team, stakeholder etc will also learned
from this project (Pham and Wallenius, 2015). The time and cost that is being set for this event
can help to measure the success of their project.
Constraints
Aims – The aim of this project is to organize an auction event in order to raise a profit.
Objective
 To organize an auction event
 To complete this project the time that for this event is May 2018.
 To complete the event in the estimated budget of around $ 2018 pounds
 To make this event a successful events
Constraints
The limitation that is being imposed on the project are being defined as the constraints. At the
beginning before staring this event the constraints will be defined for this (McAndrews, Sarkar
and Wang, 2017.).
 The events starting time will be at around 11.30 am and the closing time will be around
8.30 pm
 In the limited budget that is £ 2018 pounds this event will be planned , organized and
executed
 About 800-900 people at a time can be there in the venue that is selected for this event.
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Assumptions
The certain assumption have been made for this event .They are as follows-:
 The appropriate people will be found ho would help in this event in the estimated time
and budget for this event
 It is expected that maximum number of people will be visiting this event.
 All the resources regarding this event will be received
 The cheap labour will be there
 On this project the team resources will focus
 By the 15th March 2018 all the planning activities need to be completed.
Scope – This event will be organized on the date may 2018.The budget for this event is £ 2018
pounds. The venue that is being decided for the auction is National portrait gallery in London
(Fugger, Katok and Wambach, 2015) . In this events the books, paintings and art work items etc
will be auctioned.
In this a silent list of items is created that is need to be auctioned .For the event the high-quality
auction form will be created and printed .The price and the items that is to be auctioned will be
decided before the event.
Project cost management
Resource analysis
In this all the resources regarding this event will be discussed.
Human resources
An essential role will be played by the project manager in this event. All the activities will be
planned , organized and executed and controlled by them. They will see whether all the
committees that is being appointed on this project are working properly or not. The new people
will be appointed by them disussed in order to plan out this event. For the events the planning
will be done to hire members .From the areas of service committee the committee may want to
first look at the availability of members and then they will recognize the qualities and
experiences that is required for specific event functions. For an instance the people who is giving
follow up need to have certain communication skills both verbal and written. This may
compliment the audience. The labours will be given the in- charge to decors the venue with
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lights and making some seating arrangement for the people who will be coming for this event
(Bhave and Budish, 2017).
Financial resources – At all the budgetary cost that is start -ups price, operational cost of the
event such as rent of the facility for the event , refreshment cost , cost on associate with the
events such as mileage reimbursements for invested guest .For this category brainstorming
involved recognizing each area of budget with a list of specific items that falls in that area. For
an instance there budget areas that would have cost of venue , program cost and refreshment
cost. To the finance department all the budgetary items will be presented once all the budget
categorizes have been done. The budget created which will reflect the complete price of the vent
when this activity is done.
Venue – All the issues of the venue need to be looked .They should keep in mind the purpose
and goals of the event. The place that is comfortable for the people will be select for this
event .The parking facility location, purpose the event etc will be considered while choosing the
venue. In the venue that is selected for this event is National portrait gallery in London all the
work of decoration that is lights, lamps etc will be done. While booking the venue for this event
the size, layout, cost, parking facility, sound and lights, Wi-Fi and cell services is being
considered (Ausubel, 2018. ).
Budgeting
The budget that is being decided for this event is about £ 128 pounds and it is just am
estimated but it can be more also . In this cost all the cost that is venue, them ,decoration,
advertising, marketing , entertainment etc will be done. The templates will be made about this
auction event that will distributed among the people. And also the advertisement will also be
done so that number of people that will be among for this will event will be more.
Cost
Venue cost £2000
Decoration 600
Marketing 180
Video production and
photography £200
Labor and delivery of set
up 300
Beverages 150
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Salaried employee
assignments 450
Accounting cost £100
Legal fees £100
Project revenue
Table 1 Project revenue
Revenue 30000
Venue cost 2000.00
Video production and
photography £200
Labor and delivery of set
up 300
Beverages 150
Salaried employee
assignments 450
Accounting cost 100
Legal fees 100
Sum 3100.00
Net profit 26900
It is assumed that there will be 30 people on venue to view program and ticket charge
will be £150. Thus, revenue computed value is 4500 and from same sum value of expenses is
deducted and in this way net profit amount is computed. Venue hiring cost is £2000 and video
photography for single day is £200. Labour cost person is £10 followed by same for beverage is
£5. Per unit cost is multiplied to 150 people. Accounting and legal cost for single day is £100
individually. All costs are added to compute overall cost.
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Project time management
Gantt chart
Figure 1Gantt chart
Network diagram
Task
Mode Task Name Duration Start Finish Predecessors
Auto
Scheduled
Inviting ideas for the
project 5 days 2/13/2018 2/19/2018
Auto
Scheduled Screening of idea 2 days 2/20/2018 2/21/2018 1
Auto
Scheduled
Determining theme of the
project 1 day 2/22/2018 2/22/2018 2
Auto
Scheduled Resource allocation 4 days 2/22/2018 2/27/2018 1,2
Auto Negotiation with 4 days 2/23/2018 2/28/2018 3
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Scheduled stakeholders
Auto
Scheduled Determing date of event 1 day 2/28/2018 2/28/2018 4
Auto
Scheduled
Ascertaining venue where
event will happened 5 days 2/28/2018 3/6/2018 3,4
Auto
Scheduled
Collection of amount on
venue date 1 day 3/1/2018 3/1/2018 5
Auto
Scheduled
Donation of amount to
needy people or NGO 3 days 3/1/2018 3/5/2018 6
Figure 2Network diagram
Critical path analysis
Chart is indicating that first, second, fourth and seventh number of activity comes in
critical path. It can be seen from table given above that in case of first activity task name is
inviting ideas for project, screening of data, resource allocation and donation of amount to need
people or NGO. In case delay happened in performance of these tasks project cost will increase
at rapid rate (Van der Wagen, 2010). Hence, it can be said that other activities that are white
highlighted can be delayed without any problem and delay in performance of relevant tasks will
not lead to increase in project cost.
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Project risk management
Risk identification Lack of coordination: Many times in the project multiple entities operate and there
become lack of coordination among them. Timing of performance of task is not perfect
and due to this reason event is not implemented in proper manner. Hence, it can be said
that lack of coordination among employees make lead to project failure. Lack of proper hierarchy: There may be absence of proper hierarchy in the system and
due to this reason employees does not know to whom they need to communicate what
sort of things (Yeoman and et.al., 2012). At own discretion tasks are performed which
lead to failure of event management project. Safety and crowd control: Many times there is absence of proper safety measures and
stampede occur at venue which lead to injuries and death of people.
Risk analysis Lack of coordination: Risk that is related to lack of coordination is very high. This is
because if there is absence of coordination then employees will not be able to work on
time. If they will not be able to work on time then in that case all activities will get
delayed or items will not be available on time in respect to performance of task. Thus,
lack of coordination will lead to origination of large size risk in the business. Absence of proper hierarchy: Many times in case of small venue project hierarchy is not
prepared. Due to this reason everyone become free to make judgement and make
decisions. In absence of supervision employees does not give importance to each other
request and conflict arises among them (Schulenkorf, 2012). Hence, it can be said that
lack of proper hierarchy is the one of the factor that lead to generation of big risk for the
relevant entity. Safety and crowd control: Sometimes due to some reasons stampede occur at venue
where event organized. However, there are little chances that such kind of incidents can
happen. Still appropriate measures need to be taken to handle the situation and due to this
reason risk is moderate on this front.
Risk matrix
Likelihood Lack of coordination Medium risk High risk High risk
Absence of Low risk Medium High risk
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hierarchy risk
Safety and crowd
control Low risk Low risk Medium risk
Slightly
harmful Harmful
Extremely
harmful
Consequences
In case of lack of coordination and absence of hierarchy consequences can be high and due to
this reason there is high risk that is associated with both. On other hand, in case of safety and
crowd control there is harmful consequences and due to this reason there is low risk on this front.
Risk control Lack of coordination: In order to control this risk on mobile phone group can be
prepared on specific chatting related application like Spark where employees can
communicate information to each other (Wang, Lin and Huang, 2010). By doing so
situations can be handled at primary stage. Absence of hierarchy: In order to control this risk top to down hierarchy can be prepared
and it can be determined that who will work under whom. By doing so it can be ensured
that there will be top supervision that will control performance of all tasks (Luttrell,
2014). Safety and crowd control: In this regard guards can be placed who will look after entire
activity and on time can take immediate action to control crowd.
CONCLUSION
On basis of above discussion it is concluded that there is significant importance of project
management methods for the business firms. While carrying out any project risks must be
identified and their severity level must be measures. By taking action on time risk can be
mitigate and effective implementation of project can be ensured. Apart from this, time to time
risk identification process must be carried out in proper manner. This is because it is not
necessary that all sort of risks associated with project will be identified on time. Thus, during
project multiple times risk assessment must be done and on time action must be taken to
eliminate risk from the project.
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REFERENCES
Books and journals
Ausubel, L.M., 2018. An Efficient Ascending-Bid Auction for Multiple Objects: Reply.
American Economic Review, 108(2), pp.561-63.
Bhave, A. and Budish, E., 2017. Primary-Market Auctions for Event Tickets: Eliminating the
Rents of'Bob the Broker'? (No. w23770). National Bureau of Economic Research.
Fugger, N., Katok, E. and Wambach, A., 2015. Collusion in dynamic buyer-determined reverse
auctions. Management Science, 62(2), pp.518-533.
McAndrews, J., Sarkar, A. and Wang, Z., 2017. The effect of the term auction facility on the
London interbank offered rate. Journal of Banking & Finance, 83, pp.135-152.
Pham, L. and Wallenius, J., 2015. Multi-attribute online reverse auctions: Recent research
trends. European Journal of Operational Research, 242(1), pp.1-9.
Schulenkorf, N., 2012. Sustainable community development through sport and events: A
conceptual framework for Sport-for-Development projects. Sport management
review/. 15(1). pp.1-12.
Van der Wagen, L., 2010. Event management. Pearson Higher Education AU.
Wang, J., Lin, W. and Huang, Y.H., 2010. A performance-oriented risk management framework
for innovative R&D projects. Technovation. 30(11-12), pp.601-611.
Yeoman, I. and et.al., 2012. Festival and events management. Routledge.
Online
Luttrell, D., 2014. [Online]. 5 Specific Risks To Special Events. Available through:<
http://www.thenonprofittimes.com/news-articles/5-specific-risks-special-events/>.
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