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BM522 - Project Management CW1 Assignment Sample

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BM522 - Project Management CW1 Assignment Sample

Introduction

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The overall objective of this report is to develop knowledge and understanding of the project management and its tools in detail which are linked with the project. The aim of this report is to provide a sustainable way which can be used to raise fund for the Sickle Cell and thalassaemia Care forum with the help of a concert project.

Task 1

Solution – about 300 words

Create the network diagram using the excel file format. Copy/paste onto this document. E.g:

Add a brief explanation of the figure below. Explain how you drew the chart and calculated the different values. Also identify the critical path(s) in the project. Identify the shortest possible time in which the project can be completed.

The diagram below provides the idea about the relationship between the listed activities of the project, duration of each project activity and the time span which indicates when each activity is expected to end.

1-2-3-….8-9….18-19-20-21-22=109

1-2-3…..11-12-13….21-22=100

The network diagram indicates the actual calculation which is related to the completion of the project. As per the earliest starting time and the latest starting time it is observed that the project will start by the very first day which is which is 28th September 2020 and as per expectation is needs to be completed within 101 days. As per the calculations done by the consulting organization the project is also expected to complete within 100 days which is lesser than the expected and the provided timeline for the project. The calculation has been conducted by measuring the time which is exactly required for each activity. This is the reason it provides the earliest finishing time and the latest finishing time (Derakhshan et al. 2019). The shortest possible time for finishing the project is mentioned in days which is 100 days. The path method variation is used for calculating the schedule and determine the time frame for the completion of the project and analyse the path effectively. The formula which has been used in this PERT analysis is:

“Optimistic+ (4*most likely)+Pessimistic/6”

With the help of this formula the graph is divided into several blocks which makes it very easy for the organization to analyse the exact amount of days which are required for the completion of the project.   

 

Figure 1: Network diagram

(Source: Created by self)


 

Task 2

 

Solution – about 300 words

Make sure you identify both INTERNAL and EXTERNAL stakeholders and organize them in the interest-power matrix below. Add a couple of lines to explain the diagram.

Stakeholders are the group of people which are associated to the project and its initiation. The investors, customers, suppliers, communities, government and the trading or project handling associations are the group of people which are considered to be the stakeholders for a project (Ilinova et al. 2018). The term stakeholder provides the idea that the people who are interested in the decision related to the activity conducted in the organization. Since, this is a concert project the stakeholders are considered to be bit different in comparison to the normal organizational operations.

Power

High

Trade associations

Communities

Investors

Customers

Suppliers

Low

Government and regulatory group

Sponsors

 

Low

High

 

Interest

 

Figure 2: interest-power matrix

(Source: Created by self)

The interest-power matrix provides the idea about the group or individual people who are subjected to have most of the impacts on the concert project. The trade associations, the communities and the investors are expected to have high power but low interest in the project as they are only concerned with the level of profit the project will generate. On the other hand the customers, suppliers and the sponsors are the group of people who are subjected to have high power and high interest in completing the project successfully and that too in less operational time.

Add a couple of lines to explain the table below.

The table below provides the idea about the communication strategy which is required to be used by the project management team and the consulting organization as well as it will provide the idea about the affect on the project or on the stakeholders. 

Stakeholder

Internal / External

Amount of Power/Interest

The stakeholder has

How would the stakeholder affect the project or be affected by the project

Communication Strategy

WHO?

INTERNAL or EXTERNAL?

 High or Low Power/ High or Low Interest

Explain how

(1-2 sentences)

In which ways will the communication happen with this stakeholder?

(1-2 sentences)

Trade associations

External

High/ low

Trade associations can impose regulations which can affect the concert

The communication can happen through online media or technical devices

Community

External

High/low

Community can like or dislike the project which will affect the image of the company

The communication with the community will be a large face-to-face connectivity

Investors

Internal

High/low

The profit and loss would affect the condition of the project

For communicating with the investors the project manager can have conference or face-to-face meetings

Customers

External

High/high

Customers are the major part of the project as their presence will decide the fund raise result

Direct communication with the customers “On-table communication”

Suppliers

Internal

High/high

Suppliers will provide the raw materials

The communication with the suppliers can be through media or device channels like social media or telephonic

Government

External

Low/low

Government will affect the project as they will impose regulations which can affect the fund raising.

Pre and post-project conferences

sponsors

Internal

High/high

The resultant of the fund raiser after the concert will affect the sponsors in both positive or negative way

Direct communication is the effective way of communication

Table 1: Communication matrix

(Source: Created by self)

Task 3

 

SOLUTION – About 150 words

You basically need to categorise the activities in the assignment’s table under different categories as shown in the example of WBS chart below. Use the information in the activity table provided to create this chart. It MUST be numbered. Add a couple of lines to explain the WBS diagram below.

 

Figure 3: WBS

(Source: Created by self)

The WBS is the structure which provides the idea about how different activities are placed and managed while conducting a project (Sutrisna et al. 2018).

Create a diagram (organogram) similar to the one below. Come up with possible names for staff members working under each department head. Add a couple of lines to explain the organizational chart below.

This organogram provides the idea about the staff members who are working under designated managers of the organization and handling the project in the most effective manner (Al-Kasasbeh et al. 2020).

Figure 4: Organogram

(Source: Created by self)

Task 4

 

Solution – about 300 words

Add a couple of lines to explain the diagram below (you need to include 20 risks). Include both positive and negative risks.

There are 20 risks which are associated to the diagram below:

  • Scope risks
  • Cost risks
  • Time risks
  • Technological risks
  • Resource risks
  • Procurement risks
  • Management risks
  • Budgeting risks
  • Lack of costumes
  • Huge amount of customers visit
  • Poor relationship with the sponsors
  • Lack of computerised devices available
  • Loss of reputation
  • Damage of facilities
  • Loss of equipment
  • Over-stressed cast and crew
  • Injury to the cast and crew
  • Over sourcing
  • Under sourcing
  • Lack of executional facilities

High

  • Scope risks
  • Cost risks
  • Time risks
  • Technological risks
  • Resource risks

 

  • Procurement risks
  • Management risks
  • Budgeting risks
  • Lack of costumes
  • Huge amount of customers visit

 

Low

  • Poor relationship with the sponsors
  • Lack of computerised devices available
  • Loss of reputation
  • Damage of facilities
  • Loss of equipment

 

  • Over-stressed cast and crew
  • Injury to the cast and crew
  • Over sourcing
  • Under sourcing
  • Lack of executional facilities

 

 

Low

High

Event Probability

Event Impact

 

Figure 5: Risks and their impacts

(Source: Created by self)

 

Add a couple of lines to explain the table below. You need to use one of the strategies (e.g. avoid, accept, mitigate, transfer, exploit, enhance, share … etc.).

The table below will provide the idea risks which have been mention above and their description of the risks. The description will provide the actual insights about the risks and the impacts on the project which is been conducted.

Risk

Description of the risk

Negative / Positive

Probability / Impact

Strategy to deal with the risk

What is the name of the risk ?

Negative or Positive and why?

High or Low probability/High or Low impact?

avoid, accept, mitigate, transfer, exploit, enhance, share and why?

Scope risks

 

Negative because it is related to the scope of the project and if the scope is achieved that it will affect the resultant of the project.

High/low

Mitigate because it can affect the output of the fund-raising event (Mousaei and Javdani, 2018).

Poor relationship with the sponsors

Negative as it will result in decaying the image of the project handling organization in the market

Low/low

Avoid

Lack of computerised devices available

Negative because the organization will not be able to keep data of their project details due to no devices are available

Low/low

Enhance

Lack of executional facilities

 

Negative as with these facilities the cast and the crew will not be able to put their best foot forward

High/high

Accept

Loss of reputation

 

Negative because loss of reputation indicates that there will be very less future projects for the organization

Low/Low

Avoid

Over sourcing

Positive as if the resources are available at a decent amount than the organization will be able to execute their plans and it is good to have a huge number of choices.

High/high

Exploring

Huge amount of customers visit

Positive as it indicates that there will be a huge number of people in the concert which means that the fund raising will be very high.

High/high

Exploring

 

Table 2: Risk management or mitigation form

(Source: Created by self)

Task 5

 

SOLUTION – about 225 words

Write about the following with respect to the project you are undertaking.

a)    Quality Expectation

The expectation of the quality of the project is excellent as required number of project assertions are carried out at a rapid sped and the completion of the project tasks are completed before the expected time and the availability of all the resources makes the project quality expectations very high for the organization.

b)    Acceptance Criteria

The acceptance criteria of the project indicates high availability of the resources which can help the organization to complete the project on time and mitigate the risks which are associated to the project.

c)     Quality Specification

The quality specification of the project indicates the progress of the project which is measurable. The initial stage of the project is the planning and the assessment schedule which includes the checklist of the activities. The inputs from the customers and positive outcomes at the end of the project provdies the idea about the quality of specifications.

d)    Measures to control the event

There are several measures which can be used to control the events of the project. Some of the measures are mentioned below:

  • Use enginerring controls
  • Use administrative controls
  • Use technological controls

 

Task 6

 

SOLUTION – about 225 words

Which methodology is the most appropriate? (For example, SCRUM, Agile, Waterfall, PRINCE2 etc.) Why? Pros and Cons?

PRINCE2 methodology is the considered to be the most appropriate methodology for managing this project. PRINCE2 is the acronym for the Projects IN controlled environments (Vaní?ková, 2017). This is an effective process-based method which is used for managing a project effectively. This is considered to be the most appropriate one as the it focusses on the business justification which helps in defining the structure of the organization for managing the project management team and uses a product-based approach for the organization to manage the project effectively (Patsyuk et al. 2020).

Pros of PRINCE2

  • It is a very flexible method of managing a project as it can fit with any type of project work.
  • It supports high level of project communication (Masciadra, 2017).
  • It always focuses on the outputs rather than only focusing on the steps of managing the project.

Cons of PRINCE2

  • It creates excessive documentation for the project.
  • Lots of upgradation and paper-work are always needed to be done in this project management method.
  • This method is a long and time taking method because of lack of involvement from the senior level management of the organization (Chalkadryan and Joshi, 2019).

 

Reference

Al Rahahleh, N., Ishaq Bhatti, M. and Najuna Misman, F., 2019. Developments in risk management in Islamic finance: A review. Journal of Risk and Financial Management12(1), p.37.

Al-Kasasbeh, M., Abudayyeh, O. and Liu, H., 2020. A unified work breakdown structure-based framework for building asset management. Journal of Facilities Management.

Bat'Kovskii, A.M., Klochkov, V.V. and Khrustalev, E.Y., 2018. Assessment of investment project risks in aviation. ????????-???????23(2 (246)).

Chalkadryan, M.G. and Joshi, M.A., 2019. PROJECT MANAGEMENT THE PRIMARY LENS IN ACCOMPLISHING ORGANIZATIONAL WORK GLOBALLY. Challenges and Opportunities in Social Sciences, Humanities and Business Management, p.14.

Davydova, I., Davydov, E. and Mazhaysky, Y., 2018. Modeling of Investment Risks Associated with Changes in Land Reclamation Status of Fire-Dangerous Peatlands in Ryazan Meshchera. environmental management3, p.9.

Derakhshan, R., Turner, R. and Mancini, M., 2019. Project governance and stakeholders: a literature review. International Journal of Project Management37(1), pp.98-116.

Ilinova, A., Cherepovitsyn, A. and Evseeva, O., 2018. Stakeholder Management: An Approach in CCS Projects. Resources7(4), p.83.

Masciadra, E., 2017. Traditional Project Management. In Knowledge and Project Management (pp. 3-23). Springer, Cham.

Mousaei, M. and Javdani, T., 2018. A new project risk management model based on scrum framework and PRINCE2 methodology. International Journal of Advanced Computer Science and Applications9(4).

Patsyuk, E.V., Krutilin, A.A., Kiseleva, M.N., Lisina, L.M. and Liberovskaya, A.N., 2020, March. “Smart Technologies” in Project Management: Rationalization of Decision Making or a Source of New Risks for Information Security. In Institute of Scientific Communications Conference (pp. 77-84). Springer, Cham.

Sutrisna, M., Ramanayaka, C.D. and Goulding, J.S., 2018. Developing work breakdown structure matrix for managing offsite construction projects. Architectural engineering and design management14(5), pp.381-397.

Vaní?ková, R., 2017. Application of PRINCE2 project management methodology. Studia Commercialia Bratislavensia10(38), p.227.

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