Project Management Report: A Comprehensive Project Analysis

This report offers a comprehensive project management analysis of the Bucks Student's Union Music Festival. It begins with an introduction to project management principles and then delves into a comparative analysis of three project management methodologies: Agile, Kanban, and Lean, evaluating their advantages and disadvantages in the context of the festival. The report includes a network diagram and identifies the critical path for the project, outlining the shortest possible time for completion. Furthermore, it presents a detailed stakeholder analysis, identifying key internal and external stakeholders and their impact on the project, along with communication strategies. A numbered Work Breakdown Structure (WBS) is also provided. Finally, the report conducts a risk analysis, identifying five distinct risks that could affect the project, assessing their likelihood, and proposing mitigation strategies. The report concludes by summarizing the key findings and emphasizing the importance of effective project management practices.

Project Management

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Comparison addition to critical analysis of three project management methodologies or bodies
of knowledge...............................................................................................................................1
TASK 2............................................................................................................................................3
Network diagram and critical path..............................................................................................3
TASK 3............................................................................................................................................7
Stakeholder analysis for the project.............................................................................................7
Numbered Work Breakdown Structure.......................................................................................9
TASK 4..........................................................................................................................................10
Risk analysis for five distinct risks............................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Project is delineated to any type of unique together with temporary endeavor that is designed
for producing any commodity, service or outcome having stated start and end undertaken for
fulfilling objectives which brings beneficial changes (Haass and Azizi, 2019). It is science
together to art of organising all elements related to the project. To gain knowledge for project
management, project considered is Bucks Student’s Union Music Festival that is organised by
Bucks Students’ Union for ensuring that students view range of topics along with express issues.
The music festival is organised for the celebration of the achievement of Alumni.
The report covers analysis of three project management bodies of knowledge, network
diagram and critical path method. It also highlights stakeholder analysis and risk analysis about
distinct risks that which can affect the project.
TASK 1
Comparison addition to critical analysis of three project management methodologies or bodies of
knowledge
Set of principles along with practices which provide direction to organise projects with the
hope of ensuring optimum performance is described to project management methodology. In the
project of Bucks Student’s Union Music Festival, project management plays crucial function of
standardising, structuring together with organising work methods. Mentioned below are
comparison and analysis of project methodologies that can be used in project of Bucks Student’s
Union Music Festival:
Basis of analysis Agile Kanban Lean methodology
Purpose Agile methodology
serves purpose of
delivering right
product for providing
better responsiveness
for dynamic needs of
target audience.
Purpose of Kanban
methodology is to
carry out working
that are ongoing
released, quicker
addition to with
better quality.
In a project,
purpose of using lean
methodology is to
change the way related
to operations for
becoming laser focused
for delivering values
(Kononenko and
Lutsenko, 2018).
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Advantages With use of the
methodology,
managers of project
are able to regular
adapt to dynamic
circumstances, pay
more attention to high
excellence and
prioritise face to face
communication for
better interactions.
With Kanban
methodology,
managers of project
are able to reduce
waste along with
scrap. It also
provides flexibility,
prevents team
overburden,
enhances team focus
and more
predictability.
With lean methodology,
managers of project are
able to improve
efficiency of resources
for innovation. It also
streamlines processes
do that managers
respond towards
fluctuations effectively.
Disadvantages The costs involved in
implementing the
methodology is high.
At same time, the
methodology requires
expert professionals
for crucial decision
making.
Kanban
methodology so not
eliminate variability,
causes flow based
issues and brings
quality level
inventory nearby to
zero.
In lean methodology,
equipment failure
results in causing major
inconsistencies.
Moreover, the
methodology needs
change in employees
that can lead to
employee
dissatisfaction from
new methods.
From the comparison, it is analysed that Kanban methodology is effective for project of
Bucks Student’s Union Music Festival. It is because it provides managers and other professionals
full transparency for task management process. It is related to pulling work from backlog
addition to completing each only as required (Choudhury and Uddin, 2018).
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TASK 2
Network diagram and critical path
In a project, network diagram is composition of series of connected boxes and arrows
which states inter relationship among practices or tasks that are involved in completion. Within
project of Bucks Student’s Union Music Festival, use of network diagram assist managers to
represent workflows of project. Below is network diagram for project of Bucks Student’s Union
Music Festival:
Figure 1: Self-Generated. 2022
(Source: Self-Generated. 2022)
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Figure 2: Self-Generated. 2022
(Source: Self-Generated. 2022)
In context to project of Bucks Student’s Union Music Festival, above presented network
diagram is prepared with below criteria:
Early Start Activity Number Early finish
Slack
time
ACTIVITY NAME
Late Start Duration Late Finish
4

5

For project of Bucks Student’s Union Music Festival, critical path is a diagram that is
linked to tasks which are needed to be completed in minimum possible time period. In Figure 1,
the diagram is prepared through arrows coloured in blue addition to orange. It is analysed that in
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accordance to critical path, shortest time of completion of project of Bucks Student’s Union
Music Festival is 116 days which entails activities, 1→2→4→5→9→10→21→22.
TASK 3
Stakeholder analysis for the project
The term stakeholder is used for describing groups, individuals and companies which have
interest in project along with mobilise resource for impacting results in certain manner.
Stakeholder analysis is termed to a technique which assist in identification along with
understanding requirements and expectations of key people in project environment (Kasemsap,
2018). In relevance to project of Bucks Student’s Union Music Festival, stakeholder analysis is
underneath:
In aspect to above stakeholder analysis matrix, detaoled description of each involved
stakeholder in project of Bucks Student’s Union Music Festival is as follows:
Stakeholder Internal/
External
Power and
interest with
Impact on project Communication
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stakeholder strategy
Government External High power
and low
interest
In the project of Bucks
Student’s Union
Music Festival,
government impacts
by creating tensions or
pressures on project
manager through
interference or
implementing laws
that can hinder
practices.
Communication strategy
through which managers
of the project can
communicate with
government is showing
some respect as well as
sending brochures
entailing detailed
information about
project with
deliverables.
Town hall
community
External Low power
and low
interest
Town hall community
impacts project of
Bucks Student’s
Union Music Festival
through accepting or
rejecting end
deliverables.
To communicate
with Town hall
community, project
managers can opt
strategy of transparency
in which all the
information about the
project will be shared
and decision making
about moving forward
are discussed (Rowe,
2020).
Project
investors
Internal High power
and high
interest
In Bucks Student’s
Union Music Festival,
project investors
Inviting communication
through multiple
channels is
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impact with decision
making related to
investment of money
along with ensuring
that they get
favourable
investments returns.
communication strategy
that can be opt by
managers including
collaboration tools.
Organising
team
Internal Low power
and high
interest
Organising team of
Bucks Student’s
Union Music Festival
impact the project by
carrying out practices
as well as allotted
roles.
Internal mail wherein
reports, status, working,
etc information are
exchange with superiors
and subordinates of the
music festival.
Numbered Work Breakdown Structure
Work breakdown structure is sequential approach for completion of projects with certain
kinds of moving pieces (Seus, Weissenberger-Eibl and Zern-Breuer, 2020). For project of Bucks
Student’s Union Music Festival, work breakdown structure is developed below:
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