The project mainly reflects on a Fund raising event by a company for a charity organization. It is identified that “Singapore Repertory theatre” which is one of the non-profit theatre company is generally selected for raising Funds for the charity organizations in order to help the poor people. The event of Fund raising is organized every year by the company and before the initiation of the event the company engages in selecting audiences as well as in arranging proper budget as well as volunteers for the project. After then a proposal is mainly sent to other organization in order to achieve support within the entire Fund raising event. It is estimated by both the event manager as well as project manager that the entire project of Fund raising will be completed in 58 days within the budget of around $17, 2888. The Fund which is mainly raised by company “Singapore Repertory theatre” assists the charity to work for poor people around the world. In this project, the project manager helps in providing equal priorities to cost, time as well as performance in order to make the event successful.
The objectives are as follows:
The deliverables are as follows:
|
Milestone activities |
Date of completion |
|
Milestone 1: Completion of planning phase |
Thu 11/30/17 |
|
Milestone 2: Completion of timeline phase |
Wed 12/13/17 |
|
Milestone 3: Completion of final phase |
Thu 1/18/18 |
The technical requirements which are needed for the event of Fund raising are as follows:
The limits as well as exclusions of the project are as follows:
The project manager as well as event manager engages in reviewing the entire plan of project. The audiences of the event were provided with the opportunity of sharing opinions with other members with the help of message. The feedbacks of the audiences are reviewed when the event provides proper level of satisfaction to the audiences so that it will have positive impact on the project. Therefore, it is analyzed that the review of the audiences are most important in order to complete the event of Fund raising properly.
In this entire project plan, it is identified that the factors like time, cost as well as performance are very much useful for identifying the criteria which is considered to be enhanced, accepted as well as constrained. Within the criteria of constrain, it is identified that the original parameter is fixed and as a result the entire time that is needed for the project plan is met. The project manager mainly engages in scheduling the entire plan of the project in such a way that it is helpful in meeting the scope, specifications as well as the budget that is estimated for completing the entire project. Accept criteria are considered tolerable for not meeting with the original parameter. It is found that when proper trade-off is made, the project schedule helps in reducing the performance of the project plan. The table that is provided below helps in reflecting the priority matrix for the Fund raising event.
|
Criteria |
Time |
Performance |
Cost |
|
Constrain |
ü |
||
|
Enhance |
ü |
||
|
Accept |
ü |
The performance of the project is considered as a constraint as the main scope is to raise proper amount of Fund for the charity organization. The scope statement of the project that manly includes objectives, deliverables as well as technical requirements are considered as project constraint in order to achieve the goals of the project. In addition to this, the performances as well as reliability of the Fund raising event are not generally compromised. It is found that project plan must meet the budget as well as time that are mainly estimated for completing the event of Fund raising successfully.
Work breakdown structure is mainly used in this project plan in order to evaluate the budget, time as well as performance of the project quite effectively. It generally helps in providing the audiences with proper information that is needed at the organizational level. The responsibilities of the events are mainly assigned to various individuals of the organization who are mainly responsible of organizing the Fund raising event. It is identified that it not only assists in planning the schedule of the project but also helps in providing the required budget estimation for the project. With the utilization of WBS, the project manager generally engages in calculating the budget, resources as well as work packages of the project.
The work packages of the WBS mainly help in elaborating the following information that are as follows:
Work breakdown structure for the event plan
Figure 1: WBS for Fund raising event
(Source: Created by author)
WBS in its entire duration, cost as well as respective resources
|
WBS |
Task Name |
Duration |
Start |
Finish |
Predecessors |
Resource Names |
Cost |
|
0 |
Fund raising event by a company for a charity organization |
58 days |
Fri 03-11-17 |
Tue 23-01-18 |
$17,288.00 |
||
|
1 |
Planning phase |
20 days |
Fri 03-11-17 |
Thu 30-11-17 |
$8,144.00 |
||
|
1.1 |
Venue selection |
3 days |
Fri 03-11-17 |
Tue 07-11-17 |
Event Manager |
$720.00 |
|
|
1.2 |
Government approval |
4 days |
Wed 08-11-17 |
Mon 13-11-17 |
2 |
Project Manager |
$1,600.00 |
|
1.3 |
Audience identification |
6 days |
Tue 14-11-17 |
Tue 21-11-17 |
3 |
Project Manager |
$2,504.00 |
|
1.4 |
Ticket selling |
9 days |
Wed 08-11-17 |
Mon 20-11-17 |
2 |
Event Manager |
$2,160.00 |
|
1.5 |
Decorations |
3 days |
Tue 21-11-17 |
Thu 23-11-17 |
5 |
Decorator |
$480.00 |
|
1.6 |
Sponsorship |
5 days |
Fri 24-11-17 |
Thu 30-11-17 |
6 |
Project Sponsor |
$680.00 |
|
2 |
Timeline phase |
12 days |
Fri 01-12-17 |
Mon 18-12-17 |
$2,520.00 |
||
|
2.1 |
Lighting and audio visual |
3 days |
Fri 01-12-17 |
Tue 05-12-17 |
7 |
Decorator |
$480.00 |
|
2.2 |
Rental project equipment |
6 days |
Wed 06-12-17 |
Wed 13-12-17 |
9 |
Event Manager |
$1,440.00 |
|
2.3 |
Parking of transportation |
3 days |
Thu 14-12-17 |
Mon 18-12-17 |
10 |
Business Consultant |
$600.00 |
|
3 |
Final phase |
26 days |
Tue 19-12-17 |
Tue 23-01-18 |
$6,624.00 |
||
|
3.1 |
Event promotions |
11 days |
Tue 19-12-17 |
Tue 02-01-18 |
11 |
Event Manager |
$2,640.00 |
|
3.2 |
Food and beverage |
12 days |
Wed 03-01-18 |
Thu 18-01-18 |
$2,784.00 |
||
|
3.2.1 |
Menu selection |
9 days |
Wed 03-01-18 |
Mon 15-01-18 |
13 |
Food Manager |
$1,584.00 |
|
3.2.2 |
Food preparation |
3 days |
Tue 16-01-18 |
Thu 18-01-18 |
15 |
Project Manager |
$1,200.00 |
|
3.3 |
Sign off project by project manager |
3 days |
Fri 19-01-18 |
Tue 23-01-18 |
16 |
Project Manager |
$1,200.00 |
The cost that is needed for completing the event of Fund raising must be properly estimated by the project manager in order to meet the goals as well as objectives of the project. The issue of cost overrun must be avoided with accurate as well as reliable cost estimation. The project manager engages in making proper decision about the purchase of the materials in the event. It is estimated that the entire cost that is needed for completing the project is around $17,288. The cost for the project must be estimated properly in order to complete the project successfully.
|
Task Name |
Duration |
Cost |
|
Fund raising event by a company for a charity organization |
58 days |
$17,288.00 |
|
Planning phase |
20 days |
$8,144.00 |
|
Venue selection |
3 days |
$720.00 |
|
Government approval |
4 days |
$1,600.00 |
|
Audience identification |
6 days |
$2,504.00 |
|
Ticket selling |
9 days |
$2,160.00 |
|
Decorations |
3 days |
$480.00 |
|
Sponsorship |
5 days |
$680.00 |
|
Timeline phase |
12 days |
$2,520.00 |
|
Lighting and audio visual |
3 days |
$480.00 |
|
Rental project equipment |
6 days |
$1,440.00 |
|
Parking of transportation |
3 days |
$600.00 |
|
Final phase |
26 days |
$6,624.00 |
|
Event promotions |
11 days |
$2,640.00 |
|
Food and beverage |
12 days |
$2,784.00 |
|
Menu selection |
9 days |
$1,584.00 |
|
Food preparation |
3 days |
$1,200.00 |
|
Sign off project by project manager |
3 days |
$1,200.00 |
Figure 2: Time phase budget of Fund raising event plan
(Source: Created by author)
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Kendrick, T. (2015). Identifying and managing project risk: essential tools for failure-proofing your project. AMACOM Div American Mgmt Assn.
Klakegg, O. J., & Lichtenberg, S. (2016). Successive Cost Estimation–Successful Budgeting of Major Projects. Procedia-Social and Behavioral Sciences, 226, 176-183.
Mirza, M., Pourzolfaghar, Z., & Shahnazari, M. (2013). Significance of Scope in Project Success.Procedia Technology, 9, 722-729.
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