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Here are a few general observations in response to the question
Advantages of Open Well
Easy access by bucket and rope means that there is no problem of pump breakdowns preventing access to water.
Assuming that a large diameter well is being compared with a narrow diameter borehole then the storage in the well itself is able toi fill up overnight and provide additional water during the day.
Disadvantages of Open Well
Low water quality as easily contaminated from surface runoff from surrounding area.
Contamination can also be introduced by buckets and ropes of multiple users - a single fixed bucket is better
Danger of people falling in.
Proper head-works, a wall and a concrete apron can reduce risks.
Best regards
Martin A