Business Administration Assignment - Tesco

BUSINESS
ADMINISTRATION
(58)

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1: Explain how to carry out a cost-benefit analysis for a project.............................................1
1.2: Evaluate the use of risk analysis techniques........................................................................1
1.3: Evaluate project planning and management tools and techniques.......................................2
1.4: Evaluate the impact of changes to project scope, schedule, finance, risk, quality and
resources......................................................................................................................................2
1.5: Analyse the requirements of project governance arrangements..........................................3
TASK 2............................................................................................................................................3
2.1 Analysing the way a project fits within an organizations overall vision, objectives, plans
and programmes of work............................................................................................................3
2.2 Objectives and scope of proposed projects with stakeholders..............................................3
2.3 The interdependencies and potential risks within a project..................................................4
2.4:Develop a project plan with objectives, key performance indicators and evaluations
mechanisms appropriate to the plan............................................................................................4
2.5: Develop proportionate and targeted plans to manage identified risks and contingencies...4
2.6: Apply project life cycle approaches to the progress of a project.........................................5
TASK 3............................................................................................................................................5
3.1 Allocation of resources in accordance with the project plan................................................5
3.2 project team members on their roles and responsibilities.....................................................6
3.3 Implemention of plan within agreed budgets and timescales...............................................6
3.4 Communicate the requirements of the plans to those who will be affected..........................6
3.5 Revised plans in the light of changing circumstances in accordance with project objectives
and identified risks......................................................................................................................7
3.6 Keep stakeholders up to date with developments and problems...........................................7
3.7 Complete close-out actions in accordance with project plans..............................................7
3.8 Organisational policies and procedures, legal and ethical requirements..............................7
TASK 4............................................................................................................................................8

4.1 Periodic reviews of the progress and effectiveness of a project using information from a
range of sources...........................................................................................................................8
4.2 Effectiveness of capturing and managing project-related knowledge.................................8
4.3 Report on the effectiveness of plans.....................................................................................9
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business administration is the management of all operations and activities within an
organisation for proper and effective functioning in the market (Business administration. 2018).
It is necessary for managing the performance of employees and processes of an organisation.
Project management is an important element of business administration. Project management is
helpful for providing structure and resources to the project members for accomplishing their
goals. The company taken here is Tesco; which is a retail supermarket chain in UK. This project
report will discuss the ways of carrying out cost-benefit analysis along with the use of risk
analysis methods, evaluating project planning and management tools and impact of changes on
scope, schedule, finance, risk, quality and resources of project. Analysis of how a project fits
with an organisation’s overall vision, objectives, plans and programmes of work along with
proportionate and targeted plans, project life cycle approaches will also be discussed in this
report.
TASK 1
1.1: Explain how to carry out a cost-benefit analysis for a project
A cost benefit analysis is the evaluation of total cost and benefits for determining the
effectiveness of the proposed project. It is done in 3 steps which are Identifying Costs: In this
step, the total costs which can occur in completing the project needs to be determined first for
measuring the potential costs. Identifying Benefits: In this step, total benefits of the proposed
project are identified and quantified which can be happen after the execution of project. Evaluate
Costs and Benefits: In this step, evaluation of the cost and benefits is done by comparing total
costs and total benefits for determining whether the proposed project is beneficial for the
corporation or not.
1.2: Evaluate the use of risk analysis techniques
The risk analysis techniques are the methods which are used for evaluating the risks
related to the future problems of the project. It is helpful for anticipating and neutralizing the
possible problems (Waldo, 2017). Brainstorming is an effective tool for risk analysis. It enable
the project head to decide whether to move forward for completing the project or not. It is useful
for improving the safety and management of potential risks which can arise in the company.
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