Project Management Report: Fundraising Event Analysis and Comparison

This report details the project management of a fundraising event, specifically a marathon organized to raise funds for a charitable cause focused on women's empowerment and health. The report outlines the fundraising strategies, including direct mailing, corporate sponsorships, and government grants, while also covering essential project activities such as planning, resource management, risk management, scheduling, and estimation. A work breakdown structure is provided to illustrate the event's cost allocation across various activities. Furthermore, the report offers a comparative analysis of two project management methodologies: PRINCE2 and PMBOK, exploring their histories, similarities, and differences, ultimately recommending the use of PRINCE2 for this specific project due to its process-oriented approach. The report provides a comprehensive understanding of event project management, covering all the key aspects from planning to methodology selection.

Fundamental of
Project Management

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
The fundraiser..............................................................................................................................3
Activities in a project...................................................................................................................4
Work break down structure for the event.....................................................................................5
TASK 2............................................................................................................................................5
PRINCE & PMBOK history........................................................................................................5
Similarities between PRINCE and PMBOK methodology..........................................................6
Differences between PRINCE and PMBOK...............................................................................7
Methodology used........................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management is the process in which the project which is been undertaken by the
company or by any organisation is analysed and managed. Project can be both short as well as
long term. The project gets dissolved when its whole motive get complete. Managing a project is
not an easy task, it requires the true understanding of lot of things like resources, raw material
needed, time taken, risk involved, scheduling of activities, labour need and etc. This report
discusses about management of a project in which the event is need to get organised through
fund raising activity. This report includes the process of fund raising for organising an event and
the activities which are included in planning about the project. Apart from this the report also
includes the comparison and differentiation between PRINCE and PMBOK methodology along
with their history.
TASK 1
The fundraiser
The project for which I am head concerns about organising an event. My project is to
organising a charitable project. To conduct any project, funds are required. For conducting this
particular project we have planned to raise the funds from public. As an event a marathon will
going to get organised for women. The motto for this marathon is women empowerment and
encouragement a healthy life among the beings. The funds can be raise form following sources:
Direct mailing: In the direct mailing method, a direct contact is made to the individual who
seems a good prospect for donating the money. In this the mail gets delivered to these people in
whom the information regarding the purpose for this mail has also been mentioned. The mail
which is formed by the company should be brief, compress and must state its purpose very
clearly. The mail should also gain the trust of readers and they must know that they are not been
contacted by some random company, the people or the company which has contacted them are
authentic and worth giving funds. Direct mailing can also get done through giving its
advertisement in newspaper or in radio. Through this a huge number of people can get targeted
and educated about the fund raising event (Banihashemi and etl al., 2017).
Corporate sponsorships: For raising the funds, the event manager also pitch to corporate. For
the event the event handler can approach to great corporate and there they can request for the
funds. Corporate sponsorship is very much common and popular as the companies need to
perform the some social corporate activities. The concept for CSR states the every company
which is running at a large scale or comes under the category of large scale enterprise has to put
2% of their profits to the society. It is believed that these companies use the resources of society
for their business; therefore it is their duty to give something back to the society. Such large scale
business can provide the sponsorships to these events (which comes under as a CSR activity).

Through the sponsorship the company can also increase their goodwill in the society and also it
results into promotions of the company itself (Kerzner, 2018).
Grants from government: For organising the event the event organiser can also pitch to the
government. The government can provide the needy goods or some kind of relaxation to the
event organiser. These relaxation and goods can be for great use in organising the event. They
also provide some funds along with these which work as an addition. This also adds up to the
contribution of government in promoting the social cause.
Activities in a project
A project is the submission of various activities. Some of the activities are as follows:
Project planning and tracking: In this activity the tasks which needs to get performed are get
planned. Project planning is related with making the plans about the tasks which needs to get
pursue in. In these activities, the resources which are need into the project, the time involved,
risk which the event can face, cost involved and etc are gets analysed. Planning includes the
activities which needs to undertaken in project, their sequencing and scheduling of them,
dividing them into stages and etc. This enable he project to have clarity about the tasks which
needs to perform into the project.
Project resource management: In this the activities related to the management of resources are
included. Resources may include the materials which need to use during the event for example,
barricades, chairs, music systems, required support of police force for security purpose and the
so on.
Project risk management: In this the risks which is involved in performing the event is
evaluated and analysed. Risk management can be properly done through risk register in which
the risks to which the event is prone are evaluated and get analysed by the project manager. After
analysing the risks, the steps or the actions are taken by event manager to eliminate or reduce
that risk. Risk can be related to safety of people, any accident during the marathon, clear path or
road and so on. All these are the risk which is associated with the event.
Scheduling management: In scheduling management, the time tables are made by the manager
so that they can organise their activities accordingly. Scheduling is the processes in which the
activities are aligned properly and a proper time table is made for the commencement of
activities so that they can performed at time. With respect of the event scheduling may include
the time to conduct fund raising activities, whom and how to pitch, advertisements and
promotion related dates and time, when to start an event, who will inaugurate the same and the
like.
Estimation management: In the estimation management, the event manager estimates the total
resources or activities which are concerning into the project. The estimation is done of by project
manager. Areas where estimation may include finance, raw materials or other materials, labour

and etc. As in the case with this event, the total cost of 50,000 Euro is required. This estimation
is done after including all the activities and resources which is need to conduct this particular
event. Other estimated resources may include people, who can volunteer in the event, sound
system, proper arrangements regarding the track, and etc.
Work break down structure for the event
A work break down structure is a structure in which the activities which are going to
include into the project are been break down into small steps (Kivilä, Martinsuo and Vuorinen,
2017). This break downing of activities are also very useful for the observing, monitoring,
controlling, executing and etc of the activities. The Work break down structure for this particular
event is given below:
Cost and its bifurcation
Cost for this particular event has been estimated as 50,000 Euro and its division for the same is
provided below:
Activities Cost
Advertisement and promotion 10,000 euro
Resources need 5,000 euro
Guests for inauguration 20,000 euro

Prize money to marathon winner 25,000 euro
total 50,000 euro
TASK 2
PRINCE & PMBOK history
PRINCE: It is a program which is concern with structure formation, management of
project and also for practitioner as certificate program in regard with this particular methodology.
This method put focus upon dividing the whole project into manageable and controllable stages.
Prince methodology has been adopted by majority of countries like United Kingdom, Western
countries of Europe, Australia and many more. The method was first adopted into the year 1989
by CCTA and it was recognized as generic project management method into the year 1996. The
PRINCE methodology includes around 6 aspects which are also known as tolerances or
performance goals. These factors are considered during the decision making process. The 6
performance goals are as follows:
Scope: The scope includes the areas or field which is covered under the project. For example the
scope for the above stated event is to organize a marathon which has a major motive to
encourage the women empowerment and health. The scope for the event is consider quite large
because it targets all women living in the city (Lientz and Rea, 2016).
Timescale: It refers to the project plan or time period for which the planning process is taking.
Risk: The risk which is involved in managing or performing the task has been included or
evaluated so that it can get reduced or eliminated through some action plans.
Quality: The quality which the project must deliver needs to get stated.
Benefits: The benefits the project would going to deliver to the targeted audience is stated here.
For example in the case of above event the benefit is to spread the awareness of good health
among people specially women and to encourage this particular gender.
Cost: Cost is the total expenditure for the project. For example to hold the above stated event a
total cost of 50,000 Euro is estimated.
PMBOK: It stands for project management Body of Knowledge. It contains all the
methodology, steps. Processes, principles and etc which the organization would going to follow.
In this methodology a book is prepared in which the performance and whereabouts of the is
mentioned. Through this book the client can know more in deep about the company and its
workings. This book or method contains all the essentials methods or terminologies which are
being followed by an organization (Meredith, Shafer, and Mantel, 2017). This method includes
around 5 stages which are Initiating, Planning, Executing, Monitoring & Controlling and then
closing.

Similarities between PRINCE and PMBOK methodology
The similarities between the two methods are as follows:
Project method: Both the PRINCE and PMBOK method are the methods which are concern
with the management of a project. These methodology aims at how they can make their project
effective and efficient. The purpose is to complete the project with efficiency and with all the
required quality.
Good foundation: Both these methodologies, PRINCE and PMBOK, provide a good foundation
to the companies as they provide the map about reach at their final destination. When the map for
the project is well ready then it becomes quite easier for the project member to follow as they
know what activity or task they need to perform and at what time (Nicholas and Steyn, 2017).
Helps in making the project goal clear: Both these methodologies i.e. PRINCE and PMBOK,
creates a transparent goal and vision about the project. When the goals and motive of the project
is clear then the activities associated with it can perform without confusion. Both these methods
help in making the transparent goals and associated activities with them.
Differences between PRINCE and PMBOK
The following can be the differences between the two:
Purpose: The purpose of PMBOK is to provide the holistic guide about the project and its
management. It includes the overall activities along with the processes used, values of the firm,
terminologies used, principle and etc. But whereas PRINCE methodology is concern, it does not
undertakes all the holistic information about the terminologies, processes, values and etc, it just
state the steps which would going to take place into the project along with goal.
Approach: The Approach which is followed into PMBOK is knowledge based. Here client is
given all the knowledge about the company and its processes used along with the project and its
associated information. But in the case with PRINCE method, the practical or process approach
is being used (Padalkar and Gopinath, 2016). In PRINCE approach the process which would
going to follow while performing the project is stated. The process is concerning of total 7 stages
and into this 7 stages all the project gets divided.
Methodology used
For the project which is being stated above, PRINCE methodology should be used by the
company. As in PRINCE methodology the company needs not get to comprehensive and holistic
into their studies. They need to present their 7 stages for project and the steps related with the
execution. It also promises more control and monitoring of the project and also very much easy
to adopt by the company (Papke-Shields and Boyer-Wright, 2017). This method clearly defines
the roles and goals of the project along with the motive they have in performing it.

CONCLUSION
From the report discussed above, the project and its management is mentioned. There are
various sources from where the project can raise funds some of them include direct mailing,
grant from government, individual fund raiser and so on. The report also includes about work
break down structure for the project. Apart from this the PRINCE and PMBOK methodologies
have also been discussed above.
REFERENCES
Books and Journals
Banihashemi, S., and etl al., 2017. Critical success factors (CSFs) for integration of sustainability
into construction project management practices in developing countries. International
Journal of Project Management. 35(6). pp.1103-1119.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Kivilä, J., Martinsuo, M. and Vuorinen, L., 2017. Sustainable project management through
project control in infrastructure projects. International Journal of Project
Management. 35(6). pp.1167-1183.
Lientz, B. and Rea, K., 2016. Breakthrough technology project management. Routledge.
Meredith, J. R., Shafer, S. M. and Mantel Jr, S.J., 2017. Project Management: A Strategic
Managerial Approach. John Wiley & Sons.
Nicholas, J. M. and Steyn, H., 2017. Project management for engineering, business and
technology. Taylor & Francis.
Padalkar, M. and Gopinath, S., 2016. Six decades of project management research: Thematic
trends and future opportunities. International Journal of Project Management. 34(7).
pp.1305-1321.
Papke-Shields, K. E. and Boyer-Wright, K. M., 2017. Strategic planning characteristics applied
to project management.International Journal of Project Management. 35(2). pp.169-
179.