Feasability of customizing a pop music concert

Feasability of customizing a defeat melody contriveThe musical composition is prep bed in feasibility be outlining activities needed for the throw away of customizing a place music design. The report covers the background of woodland Ltd and brief data of PLC.There after detail discuss on the stages of PLC from concept stage, development stage, experience stage to bearing stage result all details of apiece sections and subsections, finally a brief summary of report in conclusion.Woods Ltd atomic number 18 a comp all specialising in the special events and have 1 grip in the North West of England. The major job of Woods Ltd is focal point upon giving customised special events on behalf of major organization. Woods Ltd has developed an outstanding reputation on both large and small pouchs, across the country and overseas.1.1 PURPOSE OF REPORTThe purpose of this report is Woods Ltd is planning to give up a one discharge event for a major music company. This report in addition discusses a range of activities required to recognize the honk successfully.1.2 PROJECT LIFE CYCLEBurke (2003) tell the refine the question is a framework for dividing the protrude up into recognizeable phases. The four phases atomic number 18 concept phase, development phase, implementation phase and termination phase. systema skeletale 1.0 have Life Cycle2.0 Concept StageBurke (2003) said starts the confound off by ca-caing the need for the foresee and the feasibility phase is in this stage.2.1 Goal and objectiveThe objectives of the forecast are customised a step to the fore music concert. Beside that, make sure the project fulfil all the requirements for the sponsor of pop music concert. Once the project is conceptualized, the next obvious step is to square off SMART goals for its successful implementation. Most masters bind that the successful implementation of a project demands setting up of certain meaningful guidelines and SMART goals. peculiar(p renominal) Well defined Clear to anyone that has a basic knowledge of the project.Measureable Know if the goal is obtainable and how far away completion is Know when it has been achievedAgree upon Agreement with all the s harborholders what the goals should beRealistic Within the availability of resources, knowledge and mTime Based Enough time to achieve the goal Not likewise much time , which send packing affect project per changeanceTable 2.1 Smart goal compendium2.2 experience feasibility studyFeasibility study is a vituperative part of the project demeanor cycle. The aim of the study would be to carry out a preliminary investigation which should help to decide whether the project should proceed further and how it should proceed. A well-orchestrated project feasibility study provides the kind of impartial synopsis that croupe separate profitable ideas from unproductive brainstorms (Joe Taylor Jr.). Table 2.2 immortalizes that, the PM trusty for conducting the feasi bility study would ordinarily considerCostIs this within the reckon set by the organisation or within the capabilities of the organisation to finance it?Timingargon there specific constraints on timing and is it possible to complete the project within these constraints?PerformanceWill the project satisfy performance criteria which have been determined?Effect on the organisationIs it feasible in the context of the organisation and the effect with it impart have upon it?2.3 STEEP outline of the projectAccording to Field and Keller (1998), STEEP analysis provides concentrated information covering social, technological, economic, ecological as well as political factor. STEEP analysis is a technique apply to aid groups to focus on what is driving change in the external environment.STEEPDescriptionSocialWoods Ltd provides professional service to customer. Woods Ltd will provide all the customers wants. For example selling the DVD music, drinks and otherwises to them when in the pop music concert.TechnologyCompany is conciliateing new-made technologies and techniques to improve the customer ineluctably and satisfaction. For example offer or so(prenominal) options in eye-soothing and temptive plain and multi-colored stage lighting, including stage floor lights, pedestal-mounted lights, suspended overhead lights, and more.EconomicWoods Ltd increments their levels of employment, reduce the national unemployment rate.EcologyThis pop music concert will not cause any pollution and effect to the environment. Beside that, in introducing new products, Woods Ltd is offering more paperless transactions, implementing electronic payment and online statements. policy-making and LegalWoods Ltd ability to create more affiliated business and improve public learning of organization and government. Woods Ltd should also protect its workers by ensuring all the hiring, compensation, training or repatriation is according to UK bear on Law as stipulated.Table 2.3 STEEP Analy sis2.4 Identify the stakeholder groupAccording to Slack et al. (2004), to deduce the project environment is to consider the various individuals and groups of people who have direct or indirect relate in the project. The five primary project stakeholders are the PM, project group, functional focal point, sponsors and customer. Each stakeholder has an essential function to make and all stakeholder expectations need to be met. Stakeholders for this project are shown in the table below.Group of stakeholders certificate of indebtedness in this pop music concertProject ManagerProject managing director is the person who is responsible for(p) for ensuring that the project team completes the event for a pop music concert on time. Beside that, the project manager develops the project plan with the team and manages the teams performance of the project tasks.Project team membersThe project team members are responsible for executing tasks and producing deliverables as outlined in the proj ect plan and directed by the project manager, at whatever level of effort or participation has been defined for them.VendorsVendors are contracted to provide additional products or services the project will require and whitethorn be members of the project team.ConsumersConsumers hold all the people that will use the product or services that the project is developing. Consumers internal to the playing organization may also be customers.Table 2.4 Group of stakeholder and Responsibility in this pop music concert2.5 Identify the Resources Required In the ProjectAccording to (Sloman 2006), there are three types of resources form the perspective of economic study, they are human resources, natural resources and manufactured resources. Pop music concert is a big project and it needs a comprehensive plan on resources in terms of manpower, budget, equipment and machineries required. to a lower place are the examples of the estimated music concert equipment that the PM planned to be requir ed in this event.2.6 Approval obtains in concept stageOnce the project proposal gets endorsement of the stakeholder of invitee, project manager will trigger off to the continuous phase which is development phase.3.0 DEVELOPMENT STAGESIn this stage, a project team is conceived with responsibilities allocated. The planning events will mostly be prepared in this stage.3.1 Work Breakdown Structure (WBS)Since the pop concert project is also a portfolio of several activities, it is necessary to breakdown the work. The work breakdown structure (WBS) is employ to fascinate all the works of a busy project. WBS is required passim the entire project. This is a results-oriented family maneuver presenting the activities to conduct or perform. WBS is represented by a hierarchical figure to organised Gordian and large projects (Senaratne and Sexton, 2009). The WBS is visualizeed to help more accurately and specifically define and organise the arena of the total project. Beside that, WBS in pop concert projects is to help with assigning responsibilities, resource allocation, observe the project, and imperious the project. Finally, it allows PM double check all the deliverables specifics with the stakeholders and make sure there is nothing missing or overlapping.3.2Network DiagramAccording to Levine, R 2010 network diagram is representation of projects activities to show logical relationship mingled with activities to find out the completion date. The PM will establish a network diagram as in the table 3.1 by stating all the activities that perform in the project. Based on the table 3.2 shows that, pop concert project needed 49days to be completed. (Please refer appendix 1 for example of network diagram).3.3 pecuniary Project AppraisalFinancial AppraisalFinancial project judgement is a series of methods used to prise the financial feasibility of a pop music concert project. In this report will cover several types of financial appraisal method which aims to aid management in project cream and to improve shareholders wealth as well.PaybackPayback period is a type of financial appraisal that measures the duration it takes to recover the initial investment woos which can be closely describe as break-even point (Petty, et al 2006). Under the payback periods rule, which ever project that gives the shorter payback duration will be accepted (Andrew and Gallagher (2003)) p 271.Net Present Value (NPV)NPV method can be said to increase shareholders wealth as this method can be easily understood. The main point is as presbyopic as the benefits (cash inflow which already taken future discounted value into account) exceed its hail, it can be said the investment has created a value (Andrew and Gallagher (2003)), p 274.Internal Rate of unsay (IRR)Internal Rate of Return (IRR) is a type of financial appraisal that finds a single rate of return that determines whether it is worth project a project or not by measuring the rate of return that makes the NPV equivalent to zero. (Investopedia2010).3.4 Project budgetKeown 2005 said that, PM must make a master budget where all other budgets from various quarters are consolidated into the master budget. PM will determine the reasonable cost that required to accomplishing the pop concert project. When the estimated cost of an item is uncertain, the project budget often includes a design allowance. This is money that is set aside in the budget just in case the actual cost of the item is wildly different than the estimate.Estimated Expenses (pound)PerformersTaken ThatRhiannaJay Z 30,000.00 50,000.00 25,000.00Manpower expenses 15,000.00Concert services 10,000.00Equipment Rental 18,000.00 quadruplet Rental 12,000.00Concert decorate15,000.00Total Costs175,000.00Table 3.2 list of estimate project budget3.5 Project Policy and ProcedureA well-laid out policy and modus operandis manual will help attract informed members and allow the company to operate more efficiently and effectively. As argue d by Utar Project Management, a policy is created as guidance for the project team to carry out their task without go against the uprightness and regulation. Beside that, a procedure is a method by which a policy can be cultivated it provides the instructions necessary to carry out a policy statement. Project team has to set some significant policies such as employment policy which respectively bound to the UK Employment Act. Beside that, all the staffs are needed to follow the rules and regulation as presented in (appendix 3) to avoid anything occur in the workplace.3.6 Obtain thanksgiving from owner to proceed with implementation stageAt last of this stage, PM will discuss and show all the paper work of the development stages to owner and get approval to go ahead with the project implementations.4.0 Implementation stageAccording to Burke (2003) this phase involve the actual implementation of the pop concert project as agreed by all stakeholders.4.1 Leadership style for PMPM ne eds to envision human motivation, team development and how to influence people, Boddy (2002).The best leadership style is always capacity to each situation and the objective of leadership is to lead the team to a common goal. Lead is to adapt to the situation and the group you need to lead. Woods Ltd would need to adopt democratic leadership as each key team member is able to provide better proposals in addressing problems in a particular area with their expertise.Below are five leadership styles.Leadership StyleCharacteristicAutocratic*Leader makes decisions without book of facts to anyone else* High degree of dependency on the leader* can create de-motivation and alienation of staff participatory*May help motivation and involvement* Improves the sharing of ideas and experiences within the business* workers feel ownership of the steadfastly and its ideas* can delay decision makingLaissez-Faire*can be very useful in businesses where creative ideas are important* relies on good t eam work and interpersonal relations* can make coordination and decision making time-consuming and lacking in overall directionParticipative*Leader acts as a father figure* Paternalistic leader makes decision buy may consult consultive*Share the problem with relevant subordinates individually* The manager makes decision that may or may not reflect the subordinates influence.Table 4.1 Leadership style4.2 MotivationMotivation for pop concert projects to be used is Maslow Hierarchy of call for. Maslows model indicates that fundamental, lower-order needs like safety and physiological requirements have to be satisfied in order to pursue higher-level motivators along the lines of self-fulfilment. In order to motivate employees, leadership must be understand the current level of needs at which the employee finds themselves, and leverage needs for workplace motivation.Table 4.2 Maslows Hierarchy of Needs Pyramid4.3 Procurement procedureSound planning of procurement is crucial. PM shall de termine what material and equipment are needed to purchase for this project and to get word that the character reference of material and equipment meet the requirement. Based on comme il faut standards and non-discriminatory supplier selection, Woods Ltd is ready to enter into partnerships with new supplier applicants. Initially, PM need to identifying potential companies that can supply the products and services. later that, audition tasks should be held in order to identify the quality approved suppliers. Beside that, PM should also identify whether they require Just-in-Time delivery from their suppliers. (Please refer appendix 5)4.4 Risk ManagementTinnirello, 2000 said that adventure management is to recognize potential problems before it happens so that corrective actions can be planned ahead and appeal when necessary to minimize undesirable impacts on the completion of projects. The approach PM has taken to manage risks for Pop concert project include a methodical work ou t by which the project team define risk, identify risk, quantify risk, and develop answer. The most likely and highest impact risks were added to the project schedule to checker that the PM take the necessary steps to implement the mitigation response at the appropriate time during the schedule. (Please refer appendix 4)4.5 Monitoring and ControlAccording to Cadle, J Yeates, D (2001) PM require to defy and monitor 4 main criteria into the pop concert project which is time, cost, quality and resources. The purpose of project monitoring and break is to provide actions can be taken when the project performance deviates significantly form the plan. During the murder of work, close monitoring and control is needed in order to ensure that progress, cost expenditure and kitchen range performance are measured and reported with methods which are in line with the way the plan was set up. It could be daily, weekly or monthly.Criteria to Control MonitorHow it is possibleTimeTime must be in control because it is significant to project to complete without any delayCostCost also should be in control because just for renovation and opening, owners should not spend a lot.QualityIf the quality of project being monitored the ISO 9002 standard can be achievedResourcesResources also must be in control and require to use it until the maximum.Table 4.3 How to control Monitor the project.5.0 Termination stageThis phase is to confirm and move that the project has completed and meets customers requirement and satisfaction. Jack and Samuel (2003)5.1 Opening concert preparationsAfter all the checking is properly done, the PM will organize event management department to take over the opening preparations.5.2 Release groundless ResourcesPM should transfer out all the unwanted materials, equipment, and any other resources to the appropriate places and redistribute strength for the next project. For example machine and working equipment will transfer to the new project sites.5.3 Documentation analysePM will run the last check into the pop concert, to ensure completion of the work, including tasks performed by subcontractors. give the axe the pop concert owner of project completion and ensure that deliverables as planned. Beside that, PM must ensure that documentation is complete, including a terminal evaluation of the project deliverable and preparation of the projects Final Report. The PM is responsible to explain in detail about the item in the contract and after the owner of the pop concert has agreed with the item in the contract, the contract is sign off.5.4 Payment and close upAfter the pop concert owner has sign off the contract, PM will submit the invoice for pop concert owner and remit payment. The information on an invoice includes invoice number, payment term, date invoice, client details and etc. Once payment being made by pop concert owner, the project will be finalize and close.6.0 ConclusionIn a nut shell, this report listed the activities needed by using the concept project life cycle. As a project moves through each process, the PM and senior management should continually monitor the projects critical success factors to ensure it is still viable. For the pop concert project, there are specific areas, and these are integration to ensure that various project activities are twinned scope to ensure that all the work required and only the work required are included time to provide an effective project schedule cost to identify needed resources and maintain budget control quality to ensure functional requirements are met human resource to effectively employ project personnel risk to analyse and mitigate potential risks and procurement to obtain necessary resources. Beside that, the project should be viewed alongside with the control techniques at all stages to ensure customers satisfaction throughout.2145 words7.0 ReferenceSloman, J 2006, Economics, sixth Edition, Prentice Hall, Spain.Bruke Rory, Project Management prov ision and Control Techniques2003, John WileyBoddy, D2002, Managing project Building and Leading the Team, Pearson nurture Limited, LondonProject Management University of Tunku Abdul Rahman , MalaysiaUniversity of Sunderland Managing of Project notes. 2005Field, M., Keller, L (1998) Project management. Open University.Richman, L (2002) project management Step-by step. AMACOM.Maslow, A. (1943) Motivation and personality, revised by R. Frazer et al (3rd edn 1970) Harper and Row, London.Herzberg, F. work and the Nature of Man. Ty Crowell CoReferring from Internethttp//www.brighthub.com/ region/project-management/articles/2645.aspxViewed 15 December 2010http//www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/rsv9182howViewed 15 December 2010http//webcache.googleusercontent.com/search?q=cacheMNTXauAUAYoJfm.dal.ca/policies/files/ae269c8cdab2a6ab9af1aa0d3b788bb4.doc+policy+and+procedure+definitionscd=4hl=enct=clnkgl=myViewed 18 December 2010http//www.12manage.com/methods_goleman_leadership _styles.htmlViewed 18 December 2010http//www.envisionsoftware.com/articles/Maslows_Needs_Hierarchy.htmlViewed 18 December 2010http//docs.google.com/viewer?a=vq=cacheweh8P22Py4UJwww.wiley.com/college/dec/meredith298298/resources/ppt/Ch13.ppt+project+termination+processhl=engl=mypid=blsrcid=ADGEESiy7TJ0FuzLsZKfCWxNcvvB4dqm_IZc6b9L9LMFWjOjvggX6Hsy7pJCdGTN-oiM54pzGQ7aUxp3L2vUZtoY1Fj2H-4XE3IEDCgFRolkeMcmEk3n5fyAea94dckyPWRK8XgOELLhsig=AHIEtbRSLeD7hwcgLsDncMJnBUvJkerPkwViewed 22 December 2010http//www.projectsmart.co.uk/smart-goals.htmlViewed 22 December 2010http//www.hireking.com.au/stage-hire-perth.shtmlViewed 22 December 2010http//www.allbusiness.com/management/444125-1.htmlViewed 27 December 2010Appendix 2The difference between policies and procedurePolicyProcedureDescribe the rules that establish what will or will not be done.Can range from broad philosophies to specific rules.Are usually expressed in standard sentence and paragraph format.let in WHAT the rule is, WHEN it applies and WHO it covers.Describe the critical steps undertaken to achieve policy intent.Are succinct, factual and to the point.Are usually expressed using lists.Include HOW to achieve the necessary results.Appendix 3Safety rules and guidelines1) Observe and practice the safety procedures established for the job.2) In case of sickness or injury, no matter how slight, report at once to your supervisor. In no case should an employee treat his or her own or someone elses injuries or attempt to remove immaterial particles from someone elses eye.3) Do not wear loose clothing or jewellery around machinery. It may catch on moving equipment and cause a serious injury4) Where required, you must wear defensive equipment, such as goggles, safety glasses, masks, gloves, hair nets, etc. appropriate to the task.5) Safety equipment such as restraints, crook backs, and two-hand devices are designed for your protection. Be sure such equipment is adjusted for you.6) Observe No Smoking regulations.7) Do not operate machines or equipment until you have been properly instructed and authorized to do so by your supervisor.8) Do not engage in such other practices as may be inconsistent with run-of-the-mill and reasonable common sense safety rules.9) Shut down your machine before cleaning, repairing, or go away it.10) Report any unsafe condition or acts to your supervisor.Appendix 4Risk management PlanningRisk Management Planning is the systematic process of deciding how to approach, plan, and execute risk management activities throughout the life of a project. It is intended to maximize the beneficial outcome of the opportunities and minimize or eliminate the consequences of contrary risk eventsIdentify risk eventRisk identification involves determining which risks might affect the project and documenting their characteristics. It may be a simple risk assessment organized by the project team.qualitativeRisk analysisQualitative risk analysis assesses the impact and likelihood of the ident ified risks and develops prioritized lists of these risks for further analysis or direct mitigation. The team assesses each identified risk for its probability of occurrence and its impact on project objectives. Project teams may elicit assistance from subject matter experts or functional units to assess the risks in their respective fields valuedRisk analysisQuantitative risk analysis is a way of numerically estimating the probability that a project will meet its cost and time objectives. Quantitative analysis is based on a simultaneous evaluation of the impacts of all identified and quantified risks.Risk response PlanningRisk response strategy is the process of developing options and determining actions to enhance opportunities and reduce threats to the projects objectives. It identifies and assigns parties to take responsibility for each risk response. This process ensures that each risk requiring a response has an owner . The Project Manager and the project team identify which s trategy is best for each risk, and then selects specific actions to implement that strategyRisk monitoring and controlRisk Monitoring and Control tracks identified risks, monitors residual risks, and identifies new risks-ensuring the execution of risk plans, and evaluating their effectiveness in reducing risk. Risk Monitoring and Control is an ongoing process for the life of the project.Appendix 5 procurement procedureWoods Lth supplierProcurement procedure