The project mainly focuses on a fundraising event by AIBI International for a charity organization named “Singapore women’s Association”. It is identified that AIBI international Pvt Ltd is one of the international company that generally operates in health industry. It generally helps in producing as well as distributing various types of health, beauty as well as fitness products like Elliptical trainers, Treadmills as well as Inversion Machines (AIBI Fitness, 2018). The company wants to organize a fundraising event for the Singapore Women’s Association, which is one of the non-profit welfare organizations that mainly aim to provide proper quality of life to the underprivileged people.
The organization “AIBI International” arranges a fundraising event for Singapore Women’s Association, which is a non-profit welfare organization. AIBI international wants to engage in the fundraising event in order to help the underprivileged people. It is identified that like every year, the organization arranges the event of fundraising so that the underprivileged people can lead proper quality of life. Before the initiation of the event, the company “AIBI International” selects audiences and estimate budget for the project. After then a proposal is generally sent to Women’s Association in order to get their help in the event. It is identified that the estimated budget for the project as per the bottom up approach is around $32,744.00. It is found that on the event day, representatives from different organization provide some funds to the non-profit women’s welfare organization so that the underprivileged can lead a quality life.
Project scope statement is defined as one of the useful tool that helps in outlining the project’s deliverables in order to identify the assumptions as well as constraints of the project (Kerzner & Kerzner, 2017). It is found that before the initiation of the project, it is very much important for the project manager as well as project stakeholders to agree on the project scope statement.
The objectives of the project are as follows:
The deliverables include:
The technical requirements, which are mainly needed, include:
The limits and exclusions of the event are provided below:
The fund raising event for Singapore women’s Association is mainly sponsored by other well-known organizations of Singapore. The organization that have provided funds so that the entire event can took place include the following:
|
Names of organization |
Amount |
|
Singapore press holding |
$7,000 |
|
Singapore Children’s Society |
$5,000 |
|
Assemblies of God Community Services Society |
$2,000 |
Project prioritization is one of the structured as well as consistent processes that mainly aim to analyze the present operational environment of the project by considering the three parameters of the project, which are scope, schedule as well as cost (Kerzner & Kerzner, 2017). It is identified that setting project priorities enables the project team for determining which of the three parameters are generally important. The project priorities generally helps in supporting project scope planning, constraint management, plan optimization as well as decision making.
|
Time |
Scope |
Cost |
Remarks
|
|
|
Constrain |
The quality of the event must not be compromised. |
|||
|
Enhance |
The project managers are instructed to compete the project on time. |
|||
|
Accept |
In order to completed the project on time, if project budget increases then it is acceptable. |
The project priority matrix that was created is for the fundraising event for Singapore Women’s Association. It is identified that for collecting funds, the project manager is mainly advised to take every advantage of the opportunity that is present in order to reduce the project completion time. However, by doing so, if the budget of the project enhances then it is acceptable but not desirable. In addition to this, the quality of the project must not be compromised.
A work breakdown structure is defined as one of the key project deliverable that mainly organizes the work of the team into number of manageable sections. As per PMBOK, the WBS is mainly considered as a deliverable oriented decomposition of the hierarchy that is mainly executed by the project team (Fitzpatrick, 2016). It is identified that the WBS mainly helps in elaborating the scope of the project into number of manageable chunks, which can be understood by the project team. The project team mainly creates the WBS by determining the various functional deliverables into number of small systems as well as subsystems. It is found that WBS are quite advantageous as it generally assists in organizing as well as defining the entire work of the project.
Figure 1: WBS
In the above figure of WBS, project-planning phase is the deliverable of the project that mainly consists of number of work packages such as selection of project venue, approval from project government, identification of audience, selling ticket, decorating the event as well as getting sponsorship for the project. Similarly, the second deliverable, which is the execution phase, also consists of work packages that are set for event, lightning as well as audio facility, rental project equipment as well as arranging for parking facility. Additionally, the third deliverable of the project that is the food and beverage facility mainly comprises of work packages like menu selection, food preparation as well as project sign off.
Cost estimation is considered as a key that helps in delivering a solid project plan. It generally utilizes number of techniques that helps in translating the scope of the project into deliverables for developing an approximation of cost that is needed in order to complete the project successfully (Aksenov et al., 2015). It is identified that there are number of techniques of cost estimation. According to Isard (2015), top down approach mainly starts with the identification of major aspects of the project and it generally needs a history as well as proper knowledge in project pricing in order to estimate the budget accurately. However, bottom up approach is one of the techniques of cost estimation in which the project managers mainly tally the cost the project upwards, starting from the initial point and accounting for each of the expected cost of the project (Zhang et al., 2014).
It is identified that in order to estimate the cost for the fund raising event, bottom up approach is mainly utilized. This approach is mainly utilized for its accuracy as reining costs as well as keeping to the estimated budget is one of the main objectives of the project. By utilizing the bottom up approach is estimated that the budget that is needed in order to complete the fund raising event is around $14,900.00.
|
Items |
Cost |
|
Cost for printing tickets |
$700 |
|
Cost for decorations |
$2,500 |
|
Cost related with lighting as well as audio visual facility |
$1,500 |
|
Cost for rental project equipment |
$2,000 |
|
Venue cost |
$2,000 |
|
Rent for car parking area |
$1,500 |
|
Cost related with event promotion |
$2,500 |
|
Cost related with food and beverage |
$1,500 |
|
Additional maintenance cost |
$700 |
|
Total cost/ budget |
$14,900 |
|
Week |
Description |
Amount |
Cumulative |
|
Week 1 |
Venue booking |
$1000 |
$1000 |
|
Week 2 |
Venue booking |
$1000 |
$2000 |
|
Week 3 |
Ticket printing |
$700 |
$2700 |
|
Week 4 |
Decoration |
$1000 |
$3700 |
|
Week 5 |
Decoration |
$1000 |
$4700 |
|
Week 6 |
Decoration |
$500 |
$5200 |
|
Week 7 |
Providing lightning as well as audio visual facility |
$700 |
$5900 |
|
Week 8 |
Providing lightning as well as audio visual facility |
$800 |
$6700 |
|
Week 9 |
Rental project equipment |
$1000 |
$7700 |
|
Week 10 |
Rental project equipment |
$1000 |
$8700 |
|
Week 11 |
Event promotions |
$500 |
$9200 |
|
Week 12 |
Event promotions |
$1000 |
$10,200 |
|
Week 13 |
Event promotions |
$1000 |
$11,200 |
|
Week 14 |
Cost for food and beverages |
$1000 |
$12,200 |
|
Week 15 |
Cost for food and beverages |
$500 |
$12,700 |
|
Week 16 |
Cost for car parking facility |
$1000 |
$13,700 |
|
Week 17 |
Cost for car parking facility |
$500 |
$14,200 |
|
Week 18 |
Maintenance |
$700 |
$14,900 |
|
Total budget |
$14,900 |
References
Aksenov, V. V., Walter, A. V., Gordeyev, A. A., & Kosovets, A. V. (2015). Classification of geokhod units and systems based on product cost analysis and estimation for a prototype model production. In IOP Conference Series: Materials Science and Engineering (Vol. 91, No. 1, p. 012088). IOP Publishing.
Fitzpatrick, B. J. (2016). Determining the Optimal Work Breakdown Structure for Defense Acquisition Contracts. Air Force Institute of Technology WPAFB United States.
Isard, W., Azis, I. J., Drennan, M. P., Miller, R. E., Saltzman, S., & Thorbecke, E. (2017). Methods of interregional and regional analysis. Taylor & Francis.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Singapore Fitness Equipment | Home Gym Singapore – AIBI Fitness. (2018). Aibifitness.com. Retrieved 28 March 2018, from https://www.aibifitness.com/
Tichavska, M., & Tovar, B. (2015). Port-city exhaust emission model: An application to cruise and ferry operations in Las Palmas Port. Transportation Research Part A: Policy and Practice, 78, 347-360.
Zhang, X., Yang, L. T., Liu, C., & Chen, J. (2014). A scalable two-phase top-down specialization approach for data anonymization using mapreduce on cloud. IEEE Transactions on Parallel and Distributed Systems, 25(2), 363-373.
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