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Project management can be described as body of knowledge related with tool, techniques, processes and principles utilized for planning, controlling, direction and revaluation of projects. Project management is method of managing all the functions that are linked with project and its parts. It also includes planning and administration of business resources to shift a particular task, function or activity towards closing (Artto and et.al., 2011). The main objective of project management is to accomplish all the project objectives with the provided constraints like, cost, time and scope etc. The project management means organization applies its physical, financial and human assets for the success of task. In this report, various aspects of project management will be studied in the context of provided case scenario. The learning regarding PRINCE2 or PMI approach will be showcased. In addition to this, description regarding how effectively project is executed and managed. Thereafter, the objectives of the project will defined (Wysocki, 2011). Also, explanation regarding the changes that were made from run up to the completion of project will be provided.
Overview: From the provided case scenario, it has been identified that a new project named Winter Hungama is going to be organized. It is social event that will be organized in university campus. The event will have various activities like quiz related to general knowledge, debate on the alarming topics like, exit of UK from European Union etc., social games. Thereafter, audience may be asked to perform on the spot act and at last refreshments will be provided. The budget for the event is decided which will not be more than £200. The timings of the project is also decided ; 12.30-2.30 pm.
The main objective of the project is to assure the successful execution of Winter Hungama event within the provided time frame and budget. The project executive is required to ensure that project is not beyond the predetermined budget. The other objective of the project is to assure maximum usage of the available resources. In addition to this, concern of project manager is to finish the project without any obstruction (Aubry and Hobbs, 2011). The another purpose of project is to complete the event effectively by minimizing exposure to various risk. The objectives must be clearly defined so that it becomes easy to attain them. From the provided case scenario, it is clear that refreshment will be offered to participants of the event. Therefore, the quality of food and beverages must be of best quality as any carelessness in this can impact the image of entity as well as health of individuals. The another objective of project manager will be to check equal opportunity is provided to all the students to take part in the event. The list of the guest that will be attending the event must be made so that arrangements can be done accordingly. The timing of the event as decided 12.30 to 2.30 must be communicated to members. The plan for t he project must be made by the project manage within 4 weeks.
From the critical assessment of the results of the project, it was ascertained that some of the objectives were not attained. Therefore, the time and budget decided for the event was exceeded. For this aspect, it is important for the project manager to concentrate on use of various principles and theories related to this (Bredillet, 2010). Therefore, PRINCE2 can be adopted which means performing projects in controlled environment. It is important method developed in 1989 by the Office of Government Commerce. The main purpose of this approach was to upgrade the skills and knowledge of individuals regarding project management. It also improve the understanding regarding methods that can be used to have better control of resources and enhance the efficiency of the entire project. In addition to this, it will aid in managing the risk related to different aspects. The PRINCE2 approach assure project is executed as it was planned and any deviation from the plan is controlled (Wysocki, 2011). In addition to this aspect regular feedbacks regarding the advancement against plan can be easily obtained through this approach. It also help in identifying the key individual in the project so that proper responsibilities and duties can be assigned to them. Thereafter, it concentrate on what a project is to offer, reason for the same, duration and individual or entity to which it is addressed (Understanding Project management. 2005). Thereafter, PRINCE2 method renders guidance that provide individuals and entities the necessary factors for operating a project. Furthermore, for the successful execution of Winter Hungama event there are various stages that can be taken into consideration. They are initiating, planning, executing, controlling and closing.
There are wide range of benefits that can be attained through project management methods. The project manager can assure premium quality of the offerings that are provided to members of the event. The another benefit of the project is that various risk can be reduced. Such as, proper project management method assure effective measures are taken to minimize exposure to risk like lack of resources etc. The quality benchmarks can be accomplished with proper project management methods. As, explained PRINCE2 method was used which enabled in improving the competence of project manager and its team. With this aspect, performance of the project was exceptionally good (Wu and Low, 2010). The proper assignment of roles of various individuals assured there are no such confusions or duplication of efforts. By taking proper follow up of the plan, project manager was able to identify t he loopholes on time. Therefore, early detection of the mistakes helped in attaining the objectives more smoothly. Thereafter, project management benefits includes increase in customer satisfaction and expectations level (What is Prince2. 2015). This help in building goodwill of entity in market. The possibility of project failure is reduced to large extent through effective project management. Also, the cost per project is reduced through proper project management as it enable better handling of resources (Tohidi, 2011). Thereafter, flexibility within the project can be attained through proper project management. Overall, it can be stated that it was expected that the aforementioned benefit can be easily attained if the right project management techniques and approaches are used.
The scope can be defined as part of planning under project that includes deciding and documenting a list of particular project objectives, results, functions,outgo and time limits. The project scope refers to boundaries of the plan. It further help in determining roles and responsibilities of every participants of team. Thereafter, it help in ascertaining the mode of completion of work, its confirmation and approval. Therefore, the functions important to furnish the planned work are covered under the project scope. For the current Winter Hungama event the scope is that it must be completed within the budget of £200. In addition to this, project timing must be 12.30-2.30 pm. Thereafter, scope of project also focused on assuring premium quality of services that are offered to the members of the event (Rosenau and Githens, 2011).
From the critical analysis of the report and results of project, it is being ascertained that project failed to stay within the scope. Therefore, it was decided that project must be not have expenses more than £200. however, due to mismanagement and wastage of resources the expenses were increased than what decided. The total expenses were £250 the extra outlay was done on hiring more staff than needed. Thereafter, it was decided that event will be organized for 2 hours, from 12.30-2.30 but many guest of the event arrived late. Due to this entire event was mismanaged and delayed by 30 mins (Bredillet, Yatim and Ruiz, 2010). The few of the participants of the event had some important work scheduled after the Hungama Winter program. Due to delay in closure of event they were unhappy as there plans were disrupted. Hence, it can be recommended that project managers must focus on use of project tolerances. It define the extent within which the project constraints can change without having the project manager get support (or consult with) from the project sponsor (Reich, Gemino and Sauer, 2012). They must be mentioned in plan determined for the project. They are normally between -10% and +10%. therefore, according the cost tolerance the project can outgo 10% less or 10% higher than ab initio planned while still being acknowledged and consented. If the expenditure fall below -10% or high +10%, then the project executive must instantly communicate the project benefactor and inform all the other stakeholders (Burke, 2013). Therefore, the present Hungama Winter event can go over budget by 10% which means £220 and it will be still accepted by the company or customer. Since the event is having expenditure of more than 10%, £250 than suitable actions must be taken by the project manager to trim down the cost. Similarly, the tolerance for time must also be set to assure its completion within the provided deadline. Therefore, the tolerance for 20 mins can be set by the project manager (Caniëls and Baken, 2012).
There are varied modifications or alterations that can be performed from the beginning to final closure of the project. These changes were important to assure flexibility in the project and meet the emerging requirements of the client. The series of the event was changed where it was decided that social games will be organized first so that members can mix effectively with each other and have sound interaction them (De Bakker, Boonstra and Wortmann, 2010). After than quiz and debate were arranged. The refreshment was arranged at the last of the event. The changes in the project included increase in budget constraints so that more effectively the entire plan can be executed. Thereafter, it was decided that event will be promoted on social media and other channels. The key purpose for this was to inform maximum audience regarding the initiatives that are taken by university in the field of co curricular activities. Further, it was decided that provision of 10 minutes will be kept so as to avoid any delay (Kerzner, 2013).
It is ascertained that there are certain changes that will be there in the project. However, these changes are likely to have impact on the project. First and foremost, the changes in series of the event can create confusions among the members. Therefore, proper communications must be done about such changes. Further, it is ascertained that budget for the event is planned to be increased (Lee and Yong, 2010). Therefore, project manager is required to discuss this with stakeholders before increasing the budget. Also, the sources that can be exploited for raising the finance must be identified and used.
Concluding from the entire project various aspects have been identified. It is ascertained that organized plan is essential for the proper completion of the project. Further, it is discovered that endurance limit must be determined to prevent any adverse consequence on the occurrence of event. Hence, time and cost tolerance can be determined. Thereafter, attribute of the services can be kept up effectively by project management techniques. Further, it is observed that PRINCE2 methodology can be utilized to intensify the effectiveness of the planned project. Also, can be identified by determine difficulty and loopholes proper actions can be taken on time. Thereafter, the PRINCE2 method will assist in dividing the project into different stages and assuring effective management and control over them.
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