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Running head: PROJECT MANAGEMENT Project management: (Assessment 1-Task B: Feasibility report) Name of the student Name of the University Author’s Note
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1 PROJECT MANAGEMENT Table of Contents Task B: Feasibility Study.................................................................................................................2 1. Business requirement summary...............................................................................................2 2. Proposed solution.....................................................................................................................2 2.1 Detail of each proposed solution and how it meets the business needs.............................2 2.2 Advantages and disadvantages of the proposed solution..................................................4 2.3 Recommended solution.....................................................................................................5 References........................................................................................................................................7
2 PROJECT MANAGEMENT Task B: Feasibility Study 1. Business requirement summary The organization “Diamond video rentals” wants a system with the help of which the company can be able to earn profits by providing proper service to the customers. They want to analyze the number of rentals to which the company provide services in order to keep track on their needs and demands. In addition to this, the company wants fast follow up on the videos such that they can be able to charge fine for late return of the videos instantly. Furthermore, the organization wants to handle complaints of the customers quite effectively by providing the quick responses for the issues that is raised by the customers. Additionally, the system must automate all the operations and keep proper record of the videos which will be helpful in boosting sales of the organization and helps in satisfying the customers by providing better quality of service. 2. Proposed solution 2.1 Detail of each proposed solution and how it meets the business needs The two solutions that are proposed for meeting the business needs of Diamond video rentals are generally elaborated. Enterprise resource planning system (ERP) According toNwankpa (2015), ERP is one of the software that is mainly utilized by the different companies in order to effectively manage as well as integrate significant part of the business. The ERP software is helpful in integrating all the processes which is needed by the Diamond video rentals for running the company effectively. It is found that with the help of the ERP, the organization can be able to store all the videos properly with proper details so that the
3 PROJECT MANAGEMENT videos can be accessed whenever needed. If data about the videos are properly stored then it will be easy to keep track on the overdue videos and as a result the customers will not miss out video titles and get satisfied with the entire service. Having ERP software, helps in accessing the list of available videos is quite easy and therefore the company can be able to provide information about the presence of the video quite faster and thus complaints against slow service can get resolved (Shen, Chen and Wang 2016).The data as well as information about the operation of the company can be stored efficiently which would be helpful in boosting sales and assists in making the customers quite satisfied with the quality of the service. Customer relationship management system (CRM) According toPedronet al.(2016), customer relationship management is one of the technologies that helps in managing the relationship and interaction of the company with the customers. It is found that Diamond video rentals wants CRM system in order to keep the customers connected and for successfully streamlining the business processes in order to improve profitability of the organization (Lipiainen 2015).It is found that the company faces a number of complaints from the customers which can be managed with the help of the CRM system and further helps in discovering new customers by enhancing the yearly revenue. In addition to this, the speed of service increases which reduces the response time and the complaints against slow service from the company can get resolved effectively. Furthermore, the diamond video rentals will provide the benefit of simplifying sales as well as marketing processes which will boost profit.
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4 PROJECT MANAGEMENT 2.2 Advantages and disadvantages of the proposed solution Advantages and disadvantages of ERP system Advantages Efficiency enhancement:ERP software generally helps in reducing time as well as effort that is needed by the workforce for carrying out different activities. It is found that properly implemented ERP system helps in eliminating repetitive manual procedures that frees up the team members for directing their focus on significant tasks. Storing data:The database system which is implemented on the backend is helpful in storing all the information which can be needed for operating the business effectively (Ali and Miller 2017). Competitive advantage:ERP helps in keeping the company ahead of competition as the business does not do costly business-related mistakes which would place the business behind. In addition to this, ERP helps in making the service of the customer fast that helps in making the customers happy and satisfied. Disadvantages Success is dependent:The success of the ERP system is mainly dependent on the skills as well as experience of the workforce including education and how they generally operate the entire system (Shatat 2015). Lengthy process of customization:Customization of ERP software generally takes a lot of time, expertise as well as money and it is analyzed that most of the times business are unable to estimate the required resources properly.
5 PROJECT MANAGEMENT Advantages and disadvantages of CRM system Advantages Enhances better customer service:CRM helps in providing business with a number of strategic advantages such that the capability is helpful in adding proper personal touch to exists relationships between different customers. Increases revenue:CRM system helps in ensuring proper co-ordination of different marketing-based campaigns. In addition to this, the system coordinates with the data of the customer such that no conflict arises (Xu, Wang and Gan 2016). Simplifies sales:A CRM system helps in facilitating development of better as well as effective channels of communication with the help of which the company can be able to simplify sales as well as marketing procedures. Disadvantages Business culture:It is found that lack of proper commitment or resistance within the cultural change with people within the company generally causes a major issue with the implementation of the CRM system (Ahmed, Amroush and Maati 2019). Record loss:Some of the CRM applications generally utilizes different types of internet connection for saving various types of customer records. The main disadvantage is that the company does not have proper control on the data and it is found that if remote CRM has outrage then the company is unable to retrieve record. 2.3 Recommended solution After proper analysis, it is found that ERP system is the best solution for Diamond video rentals. It is found that ERP solution is mainly proposed as with the help of ERP, the
6 PROJECT MANAGEMENT organization will be able to store all the information of the customers as well as details of the videos which will be delivered. Storage of information in the database of the system provides easy access about the information of the videos which not only increases efficiency but also helps in providing faster service to the customers thus boosting the sales of the organization.
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7 PROJECT MANAGEMENT References Ahmed, B.S., Amroush, F. and Maati, M.B., 2019. The Intelligence of E-CRM Applications and Approaches on Online Shopping Industry. InAdvanced Methodologies and Technologies in Digital Marketing and Entrepreneurship(pp. 70-82). IGI Global. Ali, M. and Miller, L., 2017. ERP system implementation in large enterprises–a systematic literature review.Journal of Enterprise Information Management,30(4), pp.666-692. Lipiäinen, H.S.M., 2015. CRM in the digital age: implementation of CRM in three contemporary B2B firms.Journal of Systems and Information Technology,17(1), pp.2-19. Nwankpa,J.K.,2015.ERPsystemusageandbenefit:Amodelofantecedentsand outcomes.Computers in Human Behavior,45, pp.335-344. Pedron, C.D., Picoto, W.N., Dhillon, G. and Caldeira, M., 2016. Value-focused objectives for CRM system adoption.Industrial Management & Data Systems,116(3), pp.526-545. Shatat, A.S., 2015. Critical success factors in enterprise resource planning (ERP) system implementation: An exploratory study in Oman.Electronic Journal of Information Systems Evaluation,18(1), p.36. Shen, Y.C., Chen, P.S. and Wang, C.H., 2016. A study of enterprise resource planning (ERP) systemperformancemeasurementusingthequantitativebalancedscorecard approach.Computers in Industry,75, pp.127-139. Xu, H., Wang, L. and Gan, W., 2016. Application of improved decision tree method based on rough set in building smart medical analysis CRM system.Int. J. Smart Home,10(1), pp.251- 266.