Individual Portfolio Report Sample
Introduction
Project management portfolio is the important factor for a different project which helps to optimize the financial strategic goals. Before conducting a project planning is essential because lack of planning has created a lack of delay in project delivery. In case of delivery delays, it has to pay a fine which directly impacts the reputation of the organization. This project has been conducted as a fundraising event for charity. This fundraising event is primarily focused on collecting money for the treatment of the diabetic patient. This report is mainly based on the providing scope statement of this project along with providing risk management, time management. A further report is associated with analyzing the stakeholders and presenting the proper quality of plan for this superior project.
Business case
Reasons
Diabetes can be analyzed as one of the crucial and growing problems all around the globe. In that context, it can be evaluated that to raise funds a Swimming program named Swim22 will be arranged within the country UK in an English channel. This fundraising event will be conducted for the Diabetes patient of the UK and require proper financial support for improving the treatment of diabetic patients in the healthcare sector (Diabetes.org.uk 2022). The objective of this event is to create online fundraising, swimming challenges, collect online sponsorship by determining the time constraint and budget. Moreover, this event of online sponsorship and raising funds for the diabetic patient would take 3 months to do this. This project has an aim to launch on 22 March 2022 and it will be continued to 22 June 2022. In this swimming event, everybody can participate according to their chosen distance for this swimming competition. The registration fees will be charged as per chosen distance. Thus as per this strategy, the management team of this organization has chosen three options for the participants. This swimming competition will be held in three distances such as 11 miles, 22 miles, and 44 miles for the pro swimmers. Further, this competition has the potential risk of any accidental case (Stettina and Schoemaker, 2018). Thus this potential risk would be mitigated by adding proper government support to this. Moreover, organizing this event has required enough financial support to arrange this 3 months program. Thus it would be taken sponsorship from different multinational organizations and charitable organizations.
Cost and risk constraints
Further doing an event it would have to calculate the cost of the total project to reduce the risk constraint. Thus it is estimated the total cost of this project is 10,000 dollars. The cost has been determined to inaccurately calculate the expenses for conducting this project. Further, there have to be effective cost factors that will be managed as per time constraints (Venturelli and Kondratyev, 2019). Besides this, in this event, the cost of the overall event will be managed by raising the local funding and taking into consideration of Government support. Though this project has to be a significant benefit for the diabetic patient to raise the fund for their treatment and maintain fit health for the patients. This project has a significant risk for the participants in this swimming competition. The possible risks will occur such as respiratory problems, muscle pain due to enough swimming, and so on. This risk will be mitigated by taking into consideration adding medical facilities and proper government support.
Stakeholder analysis and Milestones
Organizing an event there has to analyses the stakeholders as per the requirement of the project and provide proper benefits of this. This project or event has to be done for all the people who are currently suffering from diabetes and provide fitness. Providing an active lifestyle has helped to monitor the “blood sugar level” of the diabetic patient and help to maintain the glucose in their body (Likhushina and Radchenko, 2021). Thus analysis of the stakeholders is the important factor for this event to organize the distance for this swimming competition such as 11 miles, 22 miles, and 44 miles. The entry of the Patients in this competition will be done by taking information about their family background, health issues, and their proactive lifestyle. Arranging this swimming event for the specific person who has the risk of diabetics and also suffering from this. Further, the milestones will be fixed for this competition that people will participate in this swimming event such as half of the 11 miles, 22 “miles of the full channel coverage” and 44 miles of the “double channel coverage”. Further, the aim of this fundraising program is to get rewarded funds through the Swim22 competition (CSENDES, 2018). Critical raising support rewards, for example, a Swim22 swimming cap for the principal gift, a Swim22 award for additionally a £35 gift. Furthermore, Swim22 shirt for giving a gift of £100, Swim22 sew on the identification, especially for giving £200 and Swim22 marked towel for giving more than £350 has been additionally detailed as “Swim22 2022 Fundraising rewards.
Scope statement
Problem statement
The main issue occurring in this project is spreading awareness of diabetes among the common people. But doing this project there will be a financial burden to collect the money for this event. Moreover, there is also a problem of finding the charitable person for this event to get sponsored and it requires more time to arrange the fund for this event (Sutarno et al., 2019). Further, doing so much swimming by diabetic patients will directly impact their health and create the risk of the cardiovascular element, respiratory problem, amputation on limbs, and other health risks which create a problem statement in this event. The further economic burden is also the risk that may occur in this event.
Aim and objective
This project aims to raise funds for the diabetic patient for their improving treatment through arranging swimming activity-based programs. This project has also aimed to make aware the Uk people about the health risk and provide proper strategies to improve their health.
Analysing the aim of this project the smart objectives has to be done as follows
| Specific | · To raise fund for this swimming event more than 10,000 dollar
● To promote the diabetic patients and their health issues through this event
● To identify the potential risk factor in this fundraising event ● To evaluate the stakeholders and their responsibility in this fundraising event |
| Measurable | The outcomes would be estimated by checking and estimating how many assets were raised during the occasion. In addition, the number of members covered each day would be checked (Bermejo Climent et al., 2021). |
| Achievable | A swimming test would be held where members would swim through the English channel through a pre-decided distance of 11 miles, 22 miles, and 44 miles. In addition, free enlistment would be given to advance support on the occasion. Arranging money through this event is also helpful for diabetic patient to improve their treatment. |
| Relevant | Carrying out said targets in the undertaking would assist with spreading mindfulness among diabetes, meeting with the essential objective of the venture. Besides, monetary help is expected for this fundraising event. |
| Time bound | It would be completed within three months |
Table 1: “Smart Objective”
Project scope, cost, and time
The scope of this project is to improve the treatment process for diabetic patients in the UK healthcare sector through this fundraising event of swimming completion. The further scope of this project is to improve the healthcare sector and add proper treatment for diabetic patients and others (Filo et al., 2020). Further arranging Swim22 fundraising events will also encourage diabetic patients to keep their bodies active and do exercise to make them fit. This project also gives potential comfort to other social workers and the organization to do other fundraising events and do social work. Doing this fundraising event this project has a scope of raising the total budget by around 10,000 pounds and forecasting the budget. Further doing this project has a scope to understand the importance of the project period and analyse the risk factor in the event.
Budgeting
| Cost component | Quantity | Rate | Total |
| Swimming Kit | 100 | £ 6 | 600 |
| Medical Kit | 10 | £ 10 | 100 |
| Food and Beverages | £ 5000 | 5000 | |
| Pool Rent | £ 1000 | 1000 | |
| Sitting and Light Arrangement | £ 500 | 500 | |
| Water Connection Cost | £ 200 | 200 | |
| Decoration and Prize | £ 1000 | 1000 | |
| Transportation | £ 500 | 500 | |
| Miscellaneous | £ 1100 | 1100 | |
| Total | 10,000 |
Table 2: Budget of the fundraising event for the charity
It has been analysed from the above budget table that the major cost covered in the swimming event is arranging food and beverages for the participants which are around 5000 pounds. Besides these, other prime costs have covered various areas such as pool rent, decoration and prize, and miscellaneous expenses for the event. Apart from these, sitting and light arrangement costs, as well as water connection costs, have also been added to the above budget. 100 pieces of swimming kit would be bought for the participant that costs around 600 pounds. The overall budget for the event of Swim22 would be 10000 pounds in which the funds would be raised for the diabetes patients for a charity.
Time management
It has been identified that time management defies directing time efficiently so that the appropriate time is allotted to the proper action for a particular project. According to the views of Adams, et al. (2019), time management defines the superior use of time as time is limited in terms of executing a project based on its timeline. In this report, different components of time management have been provided according to the fundraising event for charity. Time management of this project consists of a “work breakdown structure”, a list of activities as well as a project timeline (Lehdonvirta, 2018). It helps project managers in setting objectives and goals for raising funds for diabetes patients in this context.
WBS
Figure 1: Work Breakdown Structure
(Source: MS Project)
It can be identified from the above figure of “work breakdown structure” that there are various tasks assigned to the fundraising event which is a swimming competition event named Swim’22. According to the above WBS, it has been identified that the first thing to do is to make a budget for the fundraising event. After that, project managers were required to market the materials and goods needed for the event. These tasks would take almost 10 days and it is forecasted that they would be completed within 4th June 2022. After those steps, managers need to set the pool for the swimming competition event which would take up to 7 days. Thereafter, they need to collect the participation fees from the participants which would take around five days.
Collecting participation fees is a significant task within the identified WBS because this would help in raising the funds for diabetes patients. After that, managers need to arrange sponsors for the event both offline and offline that would take up to 14 days up to 19th May 2022. After arranging sponsorship, project managers need to raise funds from online participants which would take around two weeks. And after all these activities, they are able to conduct the main event for raising funds for the charity which is a swimming competition event or Swim’22 for 10 days. So it can be identified that the overall process would take almost three months from 22nd March to 22nd June 2022.
List of Activity
The list of activities for the fundraising event for diabetes patients in a charity has been provided below.
- Making a budget for the fundraising event
- Marketing for the goods and materials required for the event
- Setting the pool for the swimming competition
- Making the advertisement campaign for the event
- Collecting the participation fees from the participators
- Arranging sponsors for the event
- Online Sponsorship advertisement
- Raising funds from participators through an online platform
- Swimming Competition event
These activities help in decomposing work packages into routine actions that deliver a basis for scheduling, estimating, monitoring, executing, and regulating the project work. This procedure would go on through the fundraising project for charity in this context.
Gantt Chart
Figure 2: “Gantt. Chart”
(Source: “MS Project”)
It has been identified from the above Gantt chart that the overall fundraising event would take almost three months from its beginning which will start from 22nd march 2022 and proceed up to 22nd June 2022.
Network Diagram
The above figure is the network diagram for a fundraising project for a charity in this context. This network diagram is a significant instrument for the project because it assists teams to visualize the actions that are required to be finished over the project duration. It also provides a significant context in this project such as sequence, task duration, and dependency.
Risk management
Risk factors and their impact
| SL no. | Risk factor | Risk prevalence
(1-5) |
Risk impact
(1-5) |
Risk level |
| 1 | Budget risk | 3 | 5 | High |
| 2 | Stakeholder risk | 3 | 3 | Low |
| 3 | Safety risk | 2 | 4 | High |
| 4 | Delay of delivery | 2 | 2 | Moderate |
| 5 | Communication risk | 4 | 2 | Moderate |
Table 3: Risk log analysis
Analysis
After analysing the table of risk factors it understands that several risk factors are directly impacted in this fundraising event and also reduce the effectiveness of this event. Here it seemed that the budget risk level is quite high in this event and its impact level is 5. On the other hand, safety risks are also majorly associated with this fundraising swimming event that directly impacts the health issues of the participants (Bhati and McDonnell, 2020). Thus, an associate of this risk in this event will tend to delay project delivery and face the issue of the stakeholder management by the project manager. Further due to having different stakeholders in this project, the project manager also faced communication issues and a lack of collaboration in this event.
Risk management plan
| Risk identify | Mitigation plan |
| Budget risk | Reducing this budget risks the management of the team that is associated with this event. In addition to that, it will also be crucial to do a pre-cost analysis and forecast the budget estimation (Kasri and Putri, 2018). Further the project has to focus on the actual expenses within their budget. |
| Stakeholder risk | To reduce the stakeholder risk the manager must have to arrange the group discussions with their members to arrange the stakeholders. This will help to improve the loss of stakeholder interest. |
| Delay in delivery | In case of reducing the delay of delivery, it has required proper monitoring and tracking of the project by updating the project improvement every day (Mostafa et al., 2020). Further, it also required dividing the whole task into subtasks that were also helpful to deliver the project in proper time. |
| Safety risk | Further reducing the risk of the health issue of the diabetic patient it is required to adopt a medical facility for regular check-ups of the participants to reduce the risk (Inoue et al., 2018). |
| Communication risk | The project manager must have added single-channel communication for reducing this risk and added the approach of quarterly reporting. |
Table 4: “Risk Management plan”
Stakeholder analysis
Stakeholder analysis is the important factor in project management that helps to associate and execute the overall project to desire the deliverables. The recognizable proof of dynamic as well as powerful stakeholders is expected to oversee different kinds of project-related exercises. These partners should be engaged to keep up with straightforwardness and coordinated effort in project direct. This event has included two sorts of partners -“Internal stakeholders and the external stakeholders” (Laureano et al., 2018). Members in this specific occasion are chiefly considered as the main outside partner and supervisory crew of getting sorted out Swim 22, Government of the UK are fundamentally considered as a component of inward partners.
Further, in the case of stakeholder identification in this fundraising event, it has considered different financial operations which help to take overall project progress. Therefore, there are several stakeholders associated with this particular fundraising event is that
| Stakeholder Identification | Needs of communication | Method of communication | Frequency of communication |
| UK Diabetes organization | ● Required for the project funds
● Proper project plan ● Get efficient stakeholders for the participation in this event |
Communicating with this organization through electronic mails (Sols, 2018). It would help to properly communicate and send the project report and files efficiently. | Helpful to get weekly progress reports and help to analyse the project outcomes report. |
| Project manager | To fulfil the project objectives and deliver the project in the proper time. | The project manager can directly communicate with the other stakeholders and also communicate through email or phone calls. | This communication is more frequent to assist the team in this event, to get weekly reports from the team members in case of progress. |
| Project team | Task in the project and fulfil the goal of the project. | In case of improving the project teams, it needs to be informed about doing vital meetings and writing documents (Sornkliang et al., 2020). | Writing reports and communicating through the mail with the team leader. Further, the project team has determined the goals and provided a daily progress report. |
| Sponsors and Government | Due to getting funds for this charity event according to the progress of work. | Writing reports or sending documents through email and connecting with Twitter. | It is less frequent to communicate with the Sponsor and Government every 15 days gap. |
Table 5: Stakeholder management and communication
Quality plan
It has been identified that the quality plan for a project defines the plan of quality management which is a “project particular” plan that defines the standards, activities, instruments, and procedures mandatory in order to accomplish the standard in providing the project. This is also sometimes contemplated to be replaceable with the execution plan for a project which figures out the gross method for project management, defining who performed what and how, as well as describing the processes, policies, and priorities that would be acquired.
Arranging this fundraising event for improving the treatment of this diabetic patient in the Uk has required a proper quality plan to conduct this fundraising event of Swim22. Determining the criteria of project deliverable has been associated with proper “Total Quality Management” to imply quality control and for getting better outcomes of this project. Further, it has expected outcomes of the team with expected resources in their fundraising event (Stanitsas et al., 2021). Moreover, quality of input has been implemented to manage the quality control in this fundraising event in the Swim22 project. In case of proper planning of safety consideration in this event, it has required proper planning of taking medical facilities that help to diabetic patients to keep comfort to participants in this event.
Critical discussions and reflections
The group of activities undertaking this fundraising event has required proper planning to raise the fund for the improvement of treatment of diabetic patients in the UK by arranging the swimming competition. It is understood that this project has consisted of fourteen individual tasks within the 3 months of this event (Tsarev et al., 2021). This fundraising event has three steps of competition as per fixed the fees of this event. This swimming competition has three distances such as halfway swimming, 22 miles of full swimming and 44 miles of double way swimming. Selecting these distances has help to raise the financial support and promote the lifestyle of the diabetic patient.
Doing this group of event I have learnt different lessons and strategies through this project planning and also understand the role of calculating the budget in this project. Further this activity has helped me to get different applications of the management tool (Willumsen et al., 2019). Moreover, working with this fundraising event helps to analyse the issues that are faced by the project manager. Further doing this activity has helped me to gather the knowledge of the practical application. I feel that it is a good opportunity to diversify the project planning and understand the knowledge of technology. Further, by working in a group project and team working it also helped me to engage myself in collaborating.
Conclusion
It can be concluded that the “portfolio of project management” consists of arrangements of programs, projects, and procedures that have been directed together and optimized for the strategic and financial objectives of an entity. In this report, a portfolio has been made in order to make a fundraising event for diabetes patients in a charity. This project would be executed through Swim’22, a swimming competition event that would take up to three months to execute. This would support collecting funds. Business case, scope statement, risk management, Stakeholder analysis, quality plan, and Time management components have been provided in this portfolio report. A critical analysis has been provided with the reflection of the learning from this project.
References
Journal
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Bhati, A. and McDonnell, D., 2020. Success in an online giving day: The role of social media in fundraising. Nonprofit and Voluntary Sector Quarterly, 49(1), pp.74-92.
CSENDES, I., 2018. Implementing Project Portfolio Management in a Commercial Bank. Challenging the Status Quo in Management and Economics, p.1143.
Filo, K., Fechner, D. and Inoue, Y., 2020. Charity sport event participants and fundraising: An examination of constraints and negotiation strategies. Sport Management Review, 23(3), pp.387-400.
Inoue, Y., Heffernan, C., Yamaguchi, T. and Filo, K., 2018. Social and charitable impacts of a charity-affiliated sport event: A mixed methods study. Sport Management Review, 21(2), pp.202-218.
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Tsarev, R., Nadikattu, R.R., Durmuş, M.S., Zhigalov, K., Kuzmich, R., Nosarev, K., Elivanov, A., Knyazkov, A., Bystrova, N. and Ikonnikov, O., 2021, April. Formation of Software Development Teams Using the Project Network Diagram and Considering the Approach Based on Acmeology and Competence. In Computer Science On-line Conference (pp. 427-440).Springer, Cham.
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Willumsen, P., Oehmen, J., Stingl, V. and Geraldi, J., 2019.Value creation through project risk management. International Journal of Project Management, 37(5), pp.731-749.
Websites
Diabetes.org.uk (2022).Swim22 2022. Available from: https://www.diabetes.org.uk/get_involved/fundraising-events/swim22. [Accessed on: 10.03.2022]
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