Project Management Report: Charity Fundraising Musical Event at LSBM

Desklib provides past papers and solved assignments for students. This report details a project plan for a charity fundraising event.

Managing Operations & Projects
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Table of Contents
Introduction......................................................................................................................................3
The project overview/scope.............................................................................................................4
The project cost management..........................................................................................................6
The project time management.........................................................................................................9
The project risk management.........................................................................................................12
Conclusion.....................................................................................................................................14
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Introduction
Operation management is the way through which various aspects of a project are supervised.
Specifically, look into how products and services are created using an enterprise. For the
purposes of this project, a comprehensive project plan will be created for the London School of
Business and Management where various aspects of fundraising project will be detailed. In this
fundraising, ever a musical show will be created where multiple angles such as resource analysis,
budget planning, cost control, risk analysis, risk matrix and other aspects in the context of the
institution will be conducted.
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The project overview/scope
Definition
In this project, a comprehensive plan will be created for raising funds and in doing so risk
assessment will be created, along with project schedule, project budget, and other areas (Lock,
2017). All these areas will be investigated in the context of the London School of Business and
Management for their musical fundraising event.
Rationale
The rationale behind performing all the tasks is to get an in-depth understanding of how funds
are raised through a fundraising event.
Constraints
There are multiple forms of external and internal constant, which a product manager will face
when creating a comprehensive project plan. These constraints might be the unavailability of
musicians, weather constraints and others. There will be financial cost will hold back the project
scope and extent until which it can be conducted (Cleden, 2017). Additionally, there will be
limited employees as well who will add to investigate this plan.
Assumptions
There are several assumptions, which will be made in this project so that a certain level of
control is maintained. Some of the assumptions, which will be considered in this project, are the
number of employees, the financial extent, variable input and other aspects will all remain
constant (Heagney, 2016).
Project Charter
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PROJECT CHARTER: GENERAL PROJECT INFORMATION
Project Name: Charity Fundraising Musical Event
Project Sponsor: VH1
Project Manager: James Moriarty
Organizational Unit: London School of Business and Management
Expected Start Date: 4.2.2019
Expected Completion
Date: 12/05/2019
Expected Savings: £250
Estimated Costs: £1,250
PROBLEM, ISSUE, GOALS, OBJECTIVES, DELIVERABLES
Purpose of Project: To raise funds
Business Case: London School of Business and Management
Goals/Metrics: To at least raise £2,019
Expected
Deliverables: 12/05/2019
PROJECT SCOPE & SCHEDULE
Within Scope To recover some amount for a fundraising project
Outside of Scope To attain at least raise £2,019 or more for charity
PROJECT BENEFITS & CUSTOMERS
Process Owner The owner will be required to plan, manage, arrange, and organise the
enterprise event.
Key Stakeholders Board members, departmental heads, investors, sponsors and others
Expected Benefits To have enough funds through which a positive impact can be made on
the society.
Table 1: Project Charter of the London School of Business and Management
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The project cost management
Resource Analysis
Research analysis is the way through which the present materials, which are available to the
enterprise, is analysed to understand what the company can use in what circumstances to
optimise and reach its goals. A VRIO framework will be utilized to evaluate the resources of
the enterprise (Knott, 2015).
Valuable – Resources within the enterprise such as furniture, electronics, workforce, and other
assets are valuable resources, which are important resources that can be used in the charity event.
Rare – These assets are not rare in nature as similar resources can be obtained from the market.
Inimitable – These resources are inimitable in nature can be duplicate nature whereby
decreasing the effectiveness of them in the industry and other competitors might used use the
same to raise charity.
Organized – Since furniture, electronics, workforce and other assets can be organized in a
simple way; their utility rate is high as there is not complexity to the process
.
Budgeting
In the following budget, various aspects will be considered to plan how the project will be
carried out. Along with that multiple costs will be consider at various stages to make the event a
success. When creating this budget, the Payback model will be utilized to understand to
understand and realize how much monetary gain can be made from the charity event that is being
performed (Kaye et al., 2016).
Expenses Estimated Cost (£)
Venue
Room retail 200
Equipment retail 100
Decorations 50
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Refreshments
Food 100
Drinks 100
Program
Performers 200
Presenter 100
Promotion
Paid Advertising 200
Web Development 150
Miscellaneous
Stationary items 50
TOTAL (£) 1250
Table 2: Budget for the Charity Event
Using the Payback Period, it can be ascertained that since at least £2019 is expected. The overall
budget of the project is £1250. Implying that there would be a profit of at least 769 or more,
chances of more can be expected since people are more likely to donate for a good cause
knowing the company is going to the safe location (Burns and Walker, 2015).
Cost Control
Cost control is the method through which overspending is held back; It helps to separate cost that
are general in nature and reduce them so that there is no form of monetary wastage. When
performing cost control, activates that will be performed will be compared with cost saving
attitude so that lesser costs implemented. In this study, the activities that are being performed are
budgeting, monitoring, and feedback. These activities will be compared with perceptive of cost
understanding, cost containment, and cost reduction. When implementing these methods, these
are three approaches, which can be done to lower the cost, which occurs within an enterprise.
These approaches include:
Cost Budgeting – Through this approach, the budget, which is presented for the charity, will be
attempted to be minimized so that there no cash being splurge of money. Cost budgeting is
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performed by estimating which items are not immensely important and which ones are
(Wildavsky, 2017).
Cost Estimating – Through exact estimation, how much cost will be required where, lower costs
can be implemented. This can be done through inquiry with the seller knowing which item’ cost
can be lower and which ones cannot.
Resource Planning - In resource planning aspects such as materials for the charity event,
equipment for the same and the people will be determined. Through resource, planning of
internal negotiations with the employees can be performed and it can be ascertained which one
of the resources will work and which ones will not (Leon, 2014).
Through methods like this, items like food cost, performance cost, advertisement cost and other
can be reduced and upward of £250 can be saved.
Figure 1: Cost Control Model
(Source: melyakub.org)
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The project time management
Gantt chart
Sl
No.
Activities Start
Date
Duratio
n
End
Date
1 Proposition of the Charity 25/03/20
19
3 28/03/20
19
2 Managerial meeting to decide the type of charity 28/03/20
19
4 01/04/20
19
3 Planning the musical charity 01/04/20
19
5 06/04/20
19
4 Setting a budget for the charity 06/04/20
19
3 09/04/20
19
5 Selection of performers, food and other
entertainment
09/04/20
19
5 14/04/20
19
6 Practicing negotiations and cost control 14/04/20
19
4 18/04/20
19
7 Reallocating the resources of the enterprise for the
charity
18/04/20
19
2 20/04/20
19
8 Hiring necessary employees for the charity 20/04/20
19
12 02/05/20
19
9 Initiating the program 02/05/20
19
1 03/05/20
19
10 Evaluating the amount which has been collected 03/05/20
19
3 06/05/20
19
11 Making recommendations for future charities 06/05/20
19
2 08/05/20
19
12 Documentation and submission of the details of the
project
08/05/20
19
4 12/05/20
19
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Table 3: Work breakdown Structure
Proposition of the Charity
Managerial meeting to decide the type of charity
Plannning the musical charity
Setting a budget for the charity
Selection of performers, food and others
Practicing negotiations and cost control
Reallocating the resouces of the enterprise for the charity
Hiring necessary employess for the charity
Intiating the program
Evaluating the amount which has been collected
Making recommendations for furture charities
Documentation and submission of the details of the project
25.3.19 14.4.19 4.5.19 24.5.19
Figure 2: Gantt chart
Network Diagram
Critical Path Analysis
No. Activities Predecessor Time
1 A - 3
2 B A 4
3 C A 5
4 D C 3
5 E B,C 5
6 F D 4
7 G F 2
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A
E
C
B
D F
H
G
I J K
L
3
3
3
4 55
3 5 5 3 3 4 4 2
5 12
12 1
1 3
3 2
2 4
8 H E 12
9 I G,H 1
10 J I 3
11 K J 2
12 L K 4
Figure 3: Network Diagram
Critical Path Analysis –
Option 1 – A->B->E->H->I->J->K->L = 34 DAYS
Option 2 – A->C->D->F->G->I->J->K->L = 27 DAYS
Option 3 – A->C->E->H->I->J->K->L = 35 DAYS
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Therefore, the critical path for the above set of activities is - A->C->E->H->I->J->K->L = 35
DAYS
The project risk management
Risk Identification
In this step, the faults, which rise in the project, will be analysed to eliminate them and prevent
them from occurring again (Li, 2014). The risks that have been identified within the charitable
musical event that is taking place are as follows:
 Failure of entertain systems
 Absenteeism of respondents
 Not being able to raise enough funds
 Improper implementation of equipment
 Health and safety issues/problems
Risk Analysis
Here the above-mentioned risks, which have been identified, will be analysed to understand the
extent of the damage. This analysis will be performed to understand what things can go wrong in
the charity event and how bad the results be if they took place. When people give large sums of
money to charities more often than not, their mood determines how much contribution they will
make towards the cause. In a scenario like this, it is vital that entertain systems optimally run,
this would assist to uplift the mood of the contributors that are coming to the event. Since a
musical event is taking place in the charity event, it is vital machines like an amplifier, music
instrument and others would well (Aven, 2015).
Another risk is that several charity contributors might be absent to the event. This absenteeism
might be caused by bad weather, personal reason, or other factors. The more number of
contributors are absent, the lower the charity contribution would be towards to the event. This
would result in the event to be a loss and be unfruitful. Contributors being absent would have the
highest amount consequence to the future charity plans that will take place within the enterprise.
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