Project Management Report: LSBM Charity Fundraising Event Analysis

This project management report analyzes the organization of a one-day charity fundraising event at the London School of Business and Management (LSBM). It provides a project overview, rationale, constraints, assumptions, and a detailed project charter. The report then delves into project cost management, including resource analysis, budgeting, and cost control strategies. Furthermore, it explores project time management using tools like Gantt charts and network diagrams, along with critical path analysis to optimize the project timeline. The report also addresses project risk management, including risk identification and mitigation techniques. The project aims to raise funds worth 2017 GBP for charitable trusts, and the report provides insights into the planning, implementation, and evaluation phases of the event, offering a comprehensive understanding of the project management process within the context of a fundraising initiative.

MANAGEMENT
OPERATION PROJECT

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INTRODUCTION
Project management plays a vital role in each and every organisation by which the
management is very helpful for making the plan. There are different types of tools and
techniques are very helpful for the firm in order to make effective business plans for achieving
the goals and targets in proper manner. In the present case, London school of Business and
Management (LSBM) is taken into consideration which is going to organise an event of one day
charity fundraising. In context to this, ways in which cost of the project is managed will be
explained. The project time management tools are such as network diagram and Gantt chart
which are shown in this project. Besides this, the project focuses on time and risk management
tools as well as techniques by which the school will be able to organise respective event in a
successful way.
TASK 1: PROJECT OVERVIEW
Definition
Project is a process which shows all activities and time frame along with the budget
section in order to achieve specific goals or objectives. It is helpful for London school of
business and management to organise an event of charity fundraising in an appropriate manner
(Kerzner, 2013). Through the project, school will be easily able to know the time and cost that
will be required to held such event.
Rationale
The project plan is prepared to organise and held an event for one day charity fund
raising by LSBM.
Constraints
In order to organise the event and raise fund, various kinds of obstacles occur. The
constraints or limitations of project are stated as below:
 There are risks can be occurs that the project can be complete on time or not.
 Another limitation is that whether the project can or cannot be completed within expected
time frame which may lead to hamper the overall event.
 Sometimes, company cannot allocate resources in a proper and adequate manner.
 Further, cost is also one of the major constraint.
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 Apart from this, another constraint is related to quality.
Assumptions
 Control over the project is to be in the hands of project manager.
 Complete data and information is proper and reliable.
 Project is to be completed within the time frame and life cycle of project (Meredith and
Mantel Jr, 2011).
Project charter
Title of a project: Organise a one day charity fund raising event and celebrate the academic
year end in London school of Business and Management.
Business Case: For raising fund in order to help the charitable trusts.
Statement of problem or opportunity: To organise event at the LSBM to raise fund for
charity.
Statement of Goal: For helping the charity sector by raising fund worth of 2017 GBP.
Scope of the project: The project is effective and has wider scope for charitable trusts in order
to raise fund and provide better services (Schwalbe, 2015).
Project sponsor: London school of business
and management
Project manager: Charitable trustees
Steering committee: Staff of London school
of business and management
Other stakeholders:
Employees, Customers, Shareholders, Other
sponsors, etc.
Estimated cost savings: 80 GBP Actual cost savings: 85 GBP
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Preliminary plan Target
date
Actual date
Identify the
market
26 –
February -
2017
28 – February
- 2017
Analyse the
sponsorship
28 –
February -
2017
27 – February
- 2017
Find different
charity trusts
5 – March
- 2017
3 – March -
2017
Organise
activities
12 –
March -
2017
13 – March -
2017
Prepare plan for
collecting fund
19 –
March -
2017
21 – March -
2017
Implementing the
plan
26 –
March -
2017
19 – March -
2017
Evaluation 9 – April -
2017
8 – April -
2017
Monitor 16 – April
- 2017
17 – April -
2017
Notes learned:
It can be learnt that there is project charter who
is highly helpful for the project manager in
order to organise overall plan in a proper
manner (Wysocki, 2011).
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TASK 2: PROJECT COST MANAGEMENT
Resource analysis
It is necessary for firms to analyse the resources for organising an event that whether they
are available or not. In context to this, different resources like human, financial, technological,
etc. are required in order to raise fund worth of 2017 GBP. With the help of all mentioned
resources, London school of business and management is able to collect relevant information and
data which are useful in order to organise the event of charity fund raising (Walker, 2015).
Budgeting
Process which helps the firm in order to estimate and predict future financial data with
the help of past performance is known as budgeting technique. Several kinds of budgets such as
cash, production, material, purchase, etc. shows the performance of firm for current and future
accounting period. Hence, by this, LSBM can derive cost, disposals and incomes which will
occur in order to organise the respective event (Wu and Low, 2010). Along with this, budgeting
process helps the school of business and management for determining variance analysis as well
as business performance. By this, it will be able to prepare and formulate effective business
strategies. Furthermore, in this there are different types of costs incurred on the basis of budgeted
expenditures are shown below:
Expenditures Number of items Cost per
item
Amount (in GBP)
Collection of data 30 number of data 10 300
Salary to the staff of London
school of business and
management
10 staff 30 300
Maintenance costs 10 items 8 80
Stationary expenses 8 items 12 96
Cost of venue where the event is to
be held
One venue 800 800
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Registration and marketing costs 3 social media sites 40 120
Food and catering expenses 12 dishes 12 144
Expenses on audio instruments 5 instruments 10 50
Total expenditures to organise
the event
1890
Sales 2800
Revenue or profit from event 910
Hence, it can be said that in order to organise one day charity fundraising event total
expenses or costs will be incur worth of 1890 GBP.
The above mentioned table shows that profit or fund generated by the LSBM is worth of
910 GBP ate the end of project completion.
Plan for spending amount
Duration (in days) Amount
20 600
45 976
60 264
At the day of 75th 50
The table shows that up to 20 days LSBM will spend amount worth of 600 GBP.
Afterwards, at the day of 45 and 60 smount will be spent worth of 976 GBP and 264 GBP
respectively. At the last day that is on 75th remaining amount which is 50 GBP will be spent in
order to organise one day fundraising event.
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Cost control
In the business, sometimes, cost can be higher which leads to affect the financial position
of firm in an adverse manner. Thus, it is necessary to have proper control over the cost and extra
expenses. London school of business and management needs to check financial transactions
within specific period of time which leads to know the activities where cost incurs high (Odland,
2012). Along with this, it needs to make better financial plan along with hiring and recruiting
highly skilled finance manager and using advises of expertise. In addition to this, LSBM should
involve the employees while making decisions because it may be possible that they give better
and effective strategies for reducing the cost and make firm more productive. By such strategies,
school is able to organise the event properly and raise fund. When respective organiser controls
the extra expenses then he can organise the event in a proper way as well as collect or raise fund
worth 2017 GBP in an adequate manner.
TASK 3 Project Time Management
For the project manager it is very significant to manage time in order to complete the
project on or before deadline (Aubry and Hobbs, 2011). For these there are different tools and
techniques are used which are shown below. Further activities in order to raise fund with help of
organising charity fund raising are prepared below:
Series no. Description of activities Activity Preceding
activity
Duration (in
Days)
Planning phase
1 Identify about the market A - 5
2 Analyse the sponsorship B A 12
3 Find about different charity trusts C B 10
Implementation phase
4 Organise activities D B 9
5 Select plan for collecting fund E C 13
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6 Analyse data and draw valid
conclusion
F D, E 8
7 Evaluation of findings from data G E 6
Closing phase of project
8 Presenting conclusion and results H F 7
9 Give appropriate suggestions I G, H 4
10 Documentation and submission of
report
J I 2
Work breakdown structure
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Gantt chart
Illustration 1: Gantt chart
The Gantt chart shows all the activities for completion of the project in horizontal format
as it shown above. With help of this the analyser and project manager able to analyse all the
activities very clearly and in appropriate manner (De Bakker, Boonstra and Wortmann, 2010).
Along with this the employees and co-workers do the work and go through each and every
activities.
Network diagram
One of the most important and widely used project management tool is network diagram
which is highly beneficial for the project managers. In order to raise the fund by organising a
one day charity fundraising event there are different types of activities are to be followed. In
addition to this, the respective diagram or technique helps to the project manager for determine
critical path of the project. With this management of LSBM can start two more activities
simultaneously which lead to reduce total time duration of project completion (Meskendahl,
2010). When the manager complete the project by reducing total activities then it will be able to
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raise fund before time. Further, the respective above mentioned activities are shown with help of
network diagram is shown below:
Illustration 2: Network diagram
From the above prepared network diagram it can be interpreted that the project manager
of London school of business and management can start two activities simultaneously up to two
times (Reich, Gemino and Sauer, 2012). It can be said that activity three and four as well as six
and seven can be start simultaneously which lead to reduce total two activities and duration as
well.
Critical path analysis
The path by which manager can know the critical way for project completion and reduce
whole time duration is known as critical path analysis (Cervone, 2011). From the above network
diagram critical path of the project of fund raising is given as below:
1+2+3+4+6+7+8+9
On the basis of respective critical path duration in order to organise an event of fund
raising will be such as follows:
5+12+10+9+8+6+7+4 = 61 days
Hence, it can be said that the overall project will be complete within 61 days.
TASK 4 Project Risk Management
Risk identification
When the company going to make the new project and implement it then there are
different types of risks can be occur which lead to hamper the overall project. As per the present
case the LSBM organise an event of charity fund raising with help of celebrate academic year
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