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Managing Operations & Projects Of The London School

University: Bloomsbury institute london

  • Unit No:
  • Level: High school
  • Pages: 18 / Words 4593
  • Paper Type: Assignment
  • Course Code: LSBM204
  • Downloads: 678
Question :

Topic- business plan

The present report is based on The London School of Business and Management

Learning Outcomes:

  • Analyse theories and concepts of operations management which is associated with designing, resourcing and measuring effectiveness of organisation.
  • Determine and examine the different planning techniques applied in the improvement and execution of organisational projects and the solving of issue.
  • Interpretation, comparison and contrast the different constraints of organisation that effect project management and operation.
  • Utilize techniques of project management to situations of organisation and measure their effectiveness.
  • Examine, combine and utilize information to solve issue.
  • Create skills of project management

Assessment 1

The London School of Business and Management desire to celebrate the end of the academic year with fund-raise event. The event is going to be held on May 2019 and the intent is to raise at least £2,019. You are nominated as the project manager for this event and is required to submit a project plan.

Project plan

State a project plan including all areas project, consider an overview, risk assessment, schedule, and budget.

The structure of the project plan should contain the following

  1. The overview/scope of project (explanation, principle, constraints, hypothesis, undertaking charter and many more)
  2. The cost management of project (analysis of resource, fund, cost control etc)
  3. The project time management (Gantt chart, network diagram, critical path analysis and other data)
  4. The risk management of project (risk identification, risk analysis, risk matrix and many more)
Answer :
Organization Selected : The London School

INTRODUCTION

Project management is the process of analysing, controlling, evaluating and completing specific tasks which are required to be accomplished successfully to meet project goals. Achieving predetermined objectives is one of the major challenges in it. If the managers are not able to control and perform all the activities in systematic manner then it may result in failure of the project (Brinckmann and et.al., 2019). Present report is based upon The London School of Business and Management which is planning to celebrate the end of the academic year with one-day event. It will be focused with charitable fundraising. This assignment will cover various topics such as project overview, cost and time management. Along with this risk management is also covered in this report.

MAIN BODY

The Project Overview/ Scope

Project Description:

The London School of Business and management is planning to conduct a charitable fundraising event therefore it is very important for the manager to make sure that its information is shared with others. It will be held in May 2019.

Smart Objective:

Main aim of the project is to raise at least 2019 pounds with the help of one day event for the purpose of charity.

Project Scope:

Project scope can be defined as the brief information which is provided to parties which are involved in a project. It is very important for the managers to make sure that detailed information regarding different tasks is shared by other who will be contributing for successful completion of it. Scope of event which will be held in The London School of Business and Management is that it will raise fund for charitable purpose which will be held at the end of academic year.

Assumptions:

It can be defined as an element which is focused in the planning procedure which is required to be accurate and certain so that it can contribute in the success of tasks. While working on the event of charitable fundraising it will be very important for the project manager of London School of management to make specific assumptions for successful completion of it (Dimitropoulos and Karasavva, 2016). Some of them are 50 volunteers will be required to perform the event, required funds for its completion will be around 1800 pounds etc. All the decisions which are taken in future are based upon such assumptions which helps to complete project properly.

Constraints:

All the elements which may restrict the activities related to project are known as constraints. The major elements which are considered as the big hitters are time, cost and scope therefore the project manager should make sure that all of them are analysed and effective strategies to deal with them are formulated. The event which will be conducted by The London School of Management may also have to face some constraints. These are lack of resources to carry out all the activities, high level of risk such as skilled volunteers etc. Apart from this, project manager of the event may also have to face the problem of inappropriate execution of activities due to improper management of time. All the constraints are required to be dealt properly so that project could be completed in specific time limit and goals could be met.

Rationale:

It is very important for all the project managers to share detailed information with the individuals who are involved in it. With the help of details they will be able to perform all the jobs appropriately which are allocated to them. As The London School of Management have decided to conduct a fund raising event at the end of academic year therefore it is essential to make sure that all the individuals get proper information about their jobs and tasks. It will be beneficial for progression of whole project (Chang, 2017).

Project Roles and Responsibilities:

All the roles and responsibilities for the project are as follows:

Role

Responsibility

Project head

Assigning tasks to all the team members.

Administrator

Administrating performance of all the individuals.

Event organisers

Make all the arrangement for the event.

Managers

Manage all the volunteers and other individuals.

Volunteers

Work according to guidance of managers

           

Responsibility Assignment Matrix:

Roles/ Responsibilities

Project head

Administrator

Event organisers

Managers

Volunteers

Assigning tasks to all the team members.

✓

 

 

 

 

Administrating performance of all the individuals.

 

✓

 

 

 

Make all the arrangement for the event.

 

 

✓

 

 

Manage all the volunteers and other individuals.

 

 

 

✓

 

Work according to guidance of managers

 

 

 

 

✓

 

         

Project Work Breakdown Structure:

Project charter:

It can be defined as a statement which helps all the individuals who are involved in a project so that they can get aware of scope, participants and objectives of it. The statement for the event of London School of Management is “To raise funding of at least 2019 pounds by conducting a one day event at the end of academic year”.

 By paying attention towards all the above mentioned elements the project manager and other individuals who are related to the event will be able to get overview of the event. It will also be beneficial to analyse that success will be attained or not.

The Project Time Management

Time management in a project is very important as it can help to complete all the activities in the specific time limit. For this purpose managers are required to pay attention towards planning, controlling, scheduling and monitoring all the tasks that are performed by different individuals. If the project manager is not able to make effective strategies for it them it may lead towards delay or unmet timelines. In order to complete the event of raising charitable funding it is essential for project manager of The London School of Business and Management to make sure that activities related to time management are performed systematically (Subić, 2017). Some of the essential documents which should be formulated by project manager of the university are as follows:

Project Activity: 

All the activities which will be performed during the event are as follows:

Activities

Duration

Finding an event format and theme

6

Setting realistic event budget

4

Finding charitable event sponsors

3

Promoting fundraiser across the web

5

Leaning on community to fundraise

5

Recruiting, training, and managing volunteers

2

          

Project Network Diagram:

It can be defined as the graphical representation of all the tasks which are related to a specific project. With the help of it, dependency of all the activities could be determined and critical path could be analysed. It is considered as one of the effective tools which could be used to track all the tasks from beginning to end. With the help of it scope of whole project could be analysed. In order to analyse that all the activities will be performed systematically or not it is required to be formed by the project manager of The London School of Business and Management (Tanev, Rasmussen and Hansen, 2016). A network diagram for the whole event is as follows:

Project Gantt Chart:

It is a type of chart which is generated for the purpose of illustrating the schedule of the project. With the help of it, all the individuals who are involved in the project may get aware of all the time intervals which are required to be focused to complete all the tasks properly. It is very important to be formulated by the project manager of a charitable fundraising event because with the help of it detailed analysis of all the activities could be conducted. A chart for the event at the London School of Business and Management is as follows:

Critical Path Analysis:

It can be defined as the process of scheduling all the predetermined activities related to a project. It is mainly used with program review and evaluation technique. With the help of it, the manager of the event which will be held in London School of Business and Management can analyse that all the tasks are performed properly or not. A chart showing critical path is as follows:

The Project Cost Management

Project cost management can be defined as a technique which is used by managers for the purpose of measuring productivity and actual cost of the tasks that will be performed by them to complete a project. There are various functions which are related to it. All of them are estimation, collection of field data, accounting, scheduling, job control and designs. While planning to manage the cost it will be very important for all the managers to make sure that different elements are focused by them (Gabler and et.al., 2017). All of them that are required to be analysed by project manager of London School of Business and Management while conducting the event for raising fund, are described below:

Cost Breakdown and Budget:

It can be defined as the process of generating monetary plan which is required by all the organisations to make sure that all the activities are performed by them in systematic manner. While planning to conduct an event it is very important for all the project managers to make sure that they analyse all the required resources properly. With the help of it, they will be able to assure that all of them are arranged and used properly for completing predetermined tasks. As The London School of Business and Management is organising an event in May 2019 to raise funds therefore for the project manager it will be very important to assess all the resources which will be required for successful completion of it. Some of them are funding, skilled volunteers, place etc. It is essential for the management to arrange all of them so that success could be assured.With the help of it, funds could be allocated to different divisions according to their requirements. Main purpose of it is to balance all the incomes and expenses. While working on the event of London School of Business and Management it will be very important for the project manager to generate a budget for the same (Sloughter and et.al., 2016). It will be beneficial for completing all the activities properly and achieve the goal of raising funding of at least 2019 pounds. The detailed budget for the same is as follows:

Particulars

Amount

Decoration

200

Refreshments

600

Stage formation

150

Token of love to the guests

60

Help desk

80

Light

120

Security

180

Parking arrangements

90

Stationary

120

Compensation to the staff

200

Total

1800

 Cost baseline: The cost base line for the project will be as follows:

Particulars

First instalment

Second instalment

Third instalment

Decoration

40

60

100

Refreshments

120

180

300

Stage formation

20

40

90

Token of love to the guests

10

20

30

Help desk

10

20

50

Light

15

35

70

Security

40

60

80

Parking arrangements

15

25

50

Stationary

10

40

70

Compensation to the staff

50

60

90

Total

330

540

930

The cost baseline for the project is as follows:

Cost control is process of identifying such expenses which could be reduces for successful completion of the project. It is very important for all the projects because with the help of it all the activities could be performed in predetermined financial resources. On the other hand, it is also focused for different purposes such as maintaining performance, enhancing profitability etc. It is also required to be focused by the manager of fund raising event at The London School of Business and Management so that planned activities could be executed in the allocated budget. If cost of a project is not controlled properly then it may result in failure so the managers should make effective plans to analyse and reduce it.

The project Risk Management

Project risk management is the process of analysing all the negative events which may take place in future and leave unfavourable impacts upon the whole project. All the elements which are required to be focused by the project manager in London School of Business and Management are as follows:

Risk Identification, Analysis and Action plan:

It can be defined as the process of analysing of assessing all the risks which may take place in future and affect growth of business. With the help of it, project manager who is responsible to handle the event organised for raising funds will be able to determine unfavourable situations which may take place in future. Some of the risks which may affect success of the event are lack of sufficient funds, improper time management, invalid assumptions. The process which is focused by all the project managers for the purpose of analysing potential risks that may take place in future is known as risk analysis. In order to assess that all the identified will leave huge or less impact it is required to be focused by the manager of fund raising event. It will be beneficial to evaluate that due to risks objectives will get affected or not (Watson, McGowan and Cunningham, 2018).

In order to deal with all the risks an action plan is generated which is as follows:

Steps

Actions

Step 1

Making sure that all the arrangements are made properly or not according to planning.

Step 2

Finding ways to overcome risks with proper plans.

Step 3

Implementing the potential changes in the strategies to overcome risks.

Step 4

Analyse that all the negative events are managed properly or not.

Risk matrix:

It can be defined as a matrix which is formulated for analysing the level of risk. It should be formulated by project manager of London School of Business and Management to determine level of risk and its impact. A matrix for the university is as follows:

Risk level

High

Moderate

Low

Likely

Insufficient funds

Insufficient funds

Invalid assumptions

Possible

Insufficient funds

Invalid assumptions

Improper time management

Unlikely

Invalid assumptions

Improper time management

Improper time management

CONCLUSION

 From the above project report, it has been concluded that project management should be focused on by all the managers as it may help to perform all the activities properly. While planning to conduct an event it is very important for managers to make sure that they pay attention to different elements. All of them are project overview, cost, time, and risk management.

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