Charity Event Project Planning: LSBM204 Project Management Assignment

This project planning assignment focuses on organizing a charity event, aiming to raise funds for social contributions, specifically targeting old age and orphanage homes. The project, planned by the London School of Business and Management, includes detailed considerations of cost and time management, resource analysis, budgeting, and cost control. The assignment outlines a Gantt chart for time management, breaking down activities and their durations. It also addresses potential risks such as lack of funds, inadequate resources, and market uncertainties. The project’s goal is to deliver a detailed understanding of resource requirements, time schedules, and risk management to improve project success. The project plan includes assumptions, constraints, and a project charter that defines the project's background, goals, scope, key stakeholders, milestones, budget, and risks. The document emphasizes the importance of optimizing costs and managing risks to ensure the project's success and the achievement of its social objectives.

PROJECT PLANNING: A PROJECT ON THE CHARITY
EVENT
Student name:
Student ID:
Professor name:

Table of Contents
Introduction:............................................................................................................................................3
1. Project overview:.................................................................................................................................3
2. Project cost management:...................................................................................................................5
3. Project time management:...................................................................................................................7
4. Project risk management:..................................................................................................................11
Conclusions:...........................................................................................................................................12
Reference list:........................................................................................................................................13
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Introduction:
The current projection deals with the planning of a new project on the charity event
where the main objective of the project planning is determine the time and cost consumptions
for the current projection options. Moreover, another aim of this project planning is to
understand the senior of the project and essential requirements for the same to successfully
execute the other. Initially the planning reports has entailed the overview on the projections
with introductory specifications and assumptions followed by the cost and time planning of the
same to acquire the critical resources. Latter phase delivers the number of risks, associated to
the project with the possible trigger of the same.
1. Project overview:
Definition:
The project is all about organising a charity event to raise fund for a social contribution.
The event has been planned from the London School of Business and Management. The
institute may donate the fund, raised from the event to a charity organisation working for the
old age home or orphanage homes. In this context, Kerzner (2013) cited that fund-raising
activity would face severe obstacles as the people in the region might not participate in such
activities. Therefore, London School of Business and Management need to focus on the
optimisation of resources to avoid unnecessary debts for planning costs.
Rationale:
The current project consists of the planning for a new charity program through a fund
raising activity. As mentioned above that the institute has aimed to conduct the activity for a
social and environmental sustainability and further improvement of the economy through
proper investment planning. In this context, Schwalbe (2015) stated that charity program also
create a fair and ethical framework in the association that in turn would deliver the positive
image of the institution among its stakeholders. Therefore, planning report of this fund raising
activity would deliver a detailed understanding on the required resources for the projection and
time schedule of the projection. Therefore, the current report will improve the understanding
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on the cost and time management among the students and other staffs, associated to the current
projection.
Constraints:
The project involves scheduling of its action plan to start and finish the same within
required time constraints. Moreover, the project report will also deliver a detailed cost and
breakdown structure to produce an in depth information on the cost constraints. Apart from the
same, Wheeler et .al., (2017) stated that scope management plan is the prime constraints to
understand the opportunity and limitations of the projections for construction of the project
framework. Thus, the current report has incorporated all these three components to produce a
reliable and valid project planning to execute the same towards meeting the project objectives.
Assumptions:
Following are the assumptions for the current projections on which the latter time and
cost estimation will be conducted.
 The cost factors for the project planning and projection will remain same over the time
 The expenditure movement will be minimal and negligible
 The resources for the projection will be eased to acquire
 The funds for the project planning and execution will be easily acquired
 All activities in the project planning will be started and finished within time
 Budgeting outcomes will be produced on the current requirements and demand
Project charter:
Background:
London School of Business and Management has aimed to organise a fund raising event at the
year ending whereas the key objective of the projection is not clearly stated. Thus, the aim would
be social development and improvement of the livelihood of needy people in the target region.
Goals:
Scope:
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Key stakeholders:
Donors: The people investing money in the charity would be a stakeholder for the projection.
Sponsors: Sponsors of the event will donate the capital to organise the activities against the
promotion of that sponsor.
Project manager: Project manager will supervise the monitor the entire process to ensure the
compliance of its framework and specifications.
Project team: Being performers, the project team members in terms of the students and other
people, voluntarily associated to the projections.
Project milestones:
The project will start on 7th May 2017 and end on the same day as the project is a single day
event.
Project budget:
The total budget to meet the cost requirement of the projection is £2017
Constraints:
Budget breakdown structure, milestone, schedule, Gantt chart and risk management matrix
Assumptions:
Fixed budget, minimal external influence, meeting the schedule properly and minimal risk
factors.
Risks:
Lack of fund, inadequate resources, volatile external factors and delay in schedule would be the
key risks of this projection.
2. Project cost management:
Resource analysis:
Resource involves funds, workforce, plants, machineries and other equipments, used in
the project planning and execution of the plan. In this regards, Mansor et .al., (2016) cited that
resources are crucial factors to plan and implement the planning to generate the project
deliverables. The resources for the current projection of fund raising activity involves
sufficient fund for cost compliance, adequate number of staffs to execute the charity program
and the equipments required to collect fund. In case of the workforce, some students of the
school and other staffs of the institute would be the key participants to collect the donations
and pre-project planning. On the other hand, the funds for the event would be collected from
the sponsors where the same would require a promotional conveyance to its key audiences on
behalf of the sponsors.
Budgeting:
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Budgeting refers to development of the cost structure based on the requirements and
current market scenario in terms of the value of equipments and price of resource acquisition.
In the opinion of Smith (2016), budgeting involves a detailed breakdown structure of the
required expenses in the planning and implementation process. Based on the current project of
fund raising event, following is the cost breakdown structure incorporating all expenses,
required for the projection planning and execution.
Particulars Costs
Planning phase:
Idea generation 53
Communication with school authority 105
Documentation of the event 260
Approval from the government 153
Acquisition phase:
Meeting with the sponsors 590
Costs of funding from sponsors 205
Purchase of raw materials and equipments 150
Planning for activities 89
Cost distribution 102
Selection of participants 125
Execution:
Preparation of slogans and festoons 77
Final action on charity 108
This budget sheet determine the cost of planning phase and acquisition. Cost of product
planning method and techniques, communicational channel, event price, government tax and
duty cost find out budget sheet.
Cost control:
According to the above cost breakdown structure, the projection has met the target budget for
the current projection. Therefore, the responsible finance manager and project managers are
liable to use the costs effectively without misuse of the same. In this context, Potts & Ankrah
(2014) stated that cost control in the project management is a necessary activity to optimise the
cost factors and minimise wastage of resources. In that case, the workforce for the project
planning and execution would be from the institute to reduce or minimise the staffing cost.
Moreover, before the expenses are taken place, the project manager is responsible to project
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the costs and activities based on the exact requirements to minimise the wastage of funds and
other resources.
3. Project time management:
Gantt chart:
Gantt chart reveals the schedule of the entire projection with the indication of its completion
within time. Moreover, Gantt chart also breaks down the activities under the projection to
indicate the time consumption for individual tasks and activities. On the other side, Fang et al.
(2015) mentioned that being a potential scheduling tool, Gantt chart discloses the information
on the start and end of individual tasks and the entire projection to reveal the probable changes
in the schedule of the project. Following is the list of activities for the current projection along
with the probable time consumptions and sequence of performing the same.
No. Particulars Duration Predecessor
1 Planning phase:
2 Idea generation 2 -
3 Communication with school
authority 2
2
4 Documentation of the event 7 3
5 Approval from the government 30 4
6 Acquisition phase:
7 Meeting with the sponsors 2 5
8 Costs of funding from sponsors 3 7
9 Purchase of raw materials and
equipments 10
8
10 Planning for activities 15 9
11 Cost distribution 5 10
12 Selection of participants 8 11
13 Execution:
14 Preparation of slogans and
festoons 7
12
15 Final action on charity 1 14
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No.
Partic
ulars wk1 wk2 wk3 wk4 wk5 wk6 wk7 wk8 wk9 wk10 wk11
1
Plann
ing
phase
:
2
Idea
gener
ation
3
Com
muni
cation
with
schoo
l
autho
rity
4
Docu
menta
tion
of the
event
5
Appr
oval
from
the
gover
nmen
t
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6
Acqui
sition
phase
:
7
Meeti
ng
with
the
spons
ors
8
Costs
of
fundi
ng
from
spons
ors
9
Purch
ase of
raw
mater
ials
and
equip
ments
10
Plann
ing
for
activi
ties
11
Cost
distri
butio
n
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12
Select
ion of
partic
ipants
13
Exec
ution:
14
Prepa
ration
of
sloga
ns
and
festoo
ns
15
Final
action
on
charit
y
Figure 1: Gantt Chart
(Source: As created by author)
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Network diagram:
Network diagram delivers the way that the project activities are working on a certain sequence
and therefore, indicating the total duration of the entire project. On the other hand, Mubarak
(2015) cited that network diagram steers the project planning through a certain way that
consumes minimal time to complete the project. On the other hand, Naber & Kolisch (2014)
opposed that network diagram also reveals the longest way of performing the tasks, in order to
cover major activities as planned in the project. In this context, Fang et al. (2015) cited that
forward and backward are two potential duration determination technique to determine
resource optimisation.
This network digram show the time duration that complete company project. There are many
activity that the are show critical path of project duration. This activity show 1-2-3-4-6-7-8-9-
10-11-12 and 1-2-3-5-8-9-10-11-12.
Critical path analysis:
Critical path refers to the shortest path of the project that consumes the minimum time and cost
constraints. As all the activities are sequenced according to the activities, the critical path of
the current projection is the entire list of activities in the same sequence.
The critical path of this time duration determine project complete in minimum time and
maximum time period. The highest time duration of this activity are as follows:
1-2-3-5-8-9-10-11-12 = 2+2+30+3+10+15+5+8+7+1 = 83*
1-2-3-4-6-7-8-9-10-11-12 =2+2+7+2+3+10+15+5+8+7+1 = 60
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* This is the highest time duration of the product that determine complete in eighty three
days /months And 83 is critical path.
4. Project risk management:
Risk identification:
In context of the current project management specifications, following are the risks, associated
to the project causing severe obstacles in success of the execution process. In that case,
Mubarak (2015) stated that identification of the risk is one of the crucial phase where the
project management team and the supervisors of the projection are liable to identify the
potential risks causing significant losses in the project deliverables. In context of the current
projection of fund raising events, probable risks are lack of funds, lack of sufficient resources,
time consumption fluctuation and proficiency of the staffs to perform on the requirements.
Risk analysis:
As mentioned in the previous section, the risk factors would influence the company to face
some sound obstacles and barriers hindering the existing process of the project execution. In
the opinion of Naber & Kolisch (2014), lack of sufficient fund would create the barrier in the
planning and acquisition process. Apart from the fund inadequacy, delay in the project task
completion would delay the completion of the entire project execution.
Risk matrix:
Risks Causes Effects Severity Impact Response
Lack of fund Poor
budgeting and
improper
forecasting of
future costs
Obstacles in the
operational flow
of project
execution
3 5 Effective secondary
research and
estimation of future
requirements
Lack of
sufficient
workforce
Unavailability
of volunteers
and efficient
participants
Overburden to the
existing
participants and
hindrance in the
flow of operation
2 5 Selection from the
internal workforce
and outsource from
volunteer
organizations
Delay in task Improper
management
Increase of
unnecessary costs
2 4 Proper task
estimation and
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