Analyse and critically evaluate project roles, principles, themes and processes using an appropriate industry standard methodology

Assignment Brief

BM522 Project Management

The title of the report is  ‘Bucks Students’ Union Music Festival case study’

Task 1

Compare and critically analyse any THREE project management methodologies/bodies of knowledge. Your analysis should consider the advantages and disadvantages of using these project management methodologies/bodies of knowledge in contemporary global projects.

Task 2

Develop a network diagram manually, AS TAUGHT (activities on arrows) clearly showing the relationship between all the activities listed above, the dependencies, the likely duration for each activity, the likely completion date (expected total project time).  Calculate the earliest starting time, the latest starting time (EST,LST) and the earliest finishing time and latest finishing time (EFT, LFT) for each activity including an outline description of the critical path, highlighting the critical activities and the shortest possible time in days in which the project can be completed as scoped above (give reasons for your choice). [40 marks]

Task 3

Undertake a stakeholder analysis for this project. This should clearly identify internal and external stakeholder, group stakeholders according to their interest and power i.e. stakeholder management matrix, communication strategies, Using the activity list above, develop a clearly numbered Work Breakdown Structure (WBS) for this music festival [20 marks]

Task 4

You are required to prepare a Risk Analysis for FIVE different risks that could affect your project. Analyse the risks involved and develop strategies for dealing with them. Present your Risk Analysis and Risk Management strategies/mitigations in the form of a table, AS TAUGHT, accompanied by a commentary of not more than 500 words.  [10 marks]

LO 1	Analyse and critically evaluate project roles, principles, themes and processes using an appropriate industry standard methodology
LO 2	Plan project activities using networks and an appropriate project management software;
LO 3	Evaluate and explain the major factors and performance requirements of project management

Sample Answer

Bucks Students’ Union Music Festival Case Study

Introduction

Project management provides the tools and techniques needed to plan, deliver, and evaluate complex projects. The Bucks Students’ Union Music Festival is a temporary event project with a defined start and end date, multiple stakeholders, and interdependent activities. This report critically examines project management methodologies, applies scheduling tools through a network diagram, conducts stakeholder analysis with a Work Breakdown Structure (WBS), and develops a risk analysis with strategies for mitigation.

Task 1: Critical Analysis of Three Project Management Methodologies

Three widely recognised project management methodologies are PRINCE2, PMBOK (Project Management Body of Knowledge), and Agile Project Management.

PRINCE2

PRINCE2 (Projects in Controlled Environments) is a structured methodology commonly used in the UK and Europe. It divides projects into manageable stages with clearly defined roles and responsibilities. The main advantage is its strong governance framework, which ensures accountability, documentation, and control. However, PRINCE2 can be rigid, making it less suitable for projects where flexibility and creativity are required. In a global environment, its bureaucratic nature may slow decision-making.

PMBOK

The PMBOK Guide by the Project Management Institute (PMI) is a knowledge-based framework rather than a strict methodology. It covers areas such as scope, cost, time, risk, and stakeholder management. Its strength lies in its universal acceptance, making it suitable for global projects. The disadvantage is that it can be overwhelming due to its wide coverage and may require tailoring to the specific project. For an international music festival, PMBOK provides valuable tools but requires adaptation to the cultural and operational context.

Agile

Agile focuses on flexibility, collaboration, and iterative delivery. It is highly useful in projects where requirements evolve, such as software or creative industries. Its advantages are adaptability and stakeholder involvement. However, Agile may not be the best fit for a one-off festival project that requires strict deadlines and fixed deliverables. In global projects, Agile faces challenges due to geographical and cultural differences that may hinder rapid collaboration.

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