Business Administration - Doc
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Added on 2020-10-05
Business Administration - Doc
Added on 2020-10-05
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BUSINESSADMINISTRATION58
Table of ContentsINTRODUCTION...........................................................................................................................11.1 Explain how to carry out a cost-benefit analysis for a project..............................................11.2 Use of risk analysis techniques.............................................................................................11.3 Project planning and management tools and techniques.......................................................21.4 The impact of changes to project scope, schedule, finance, risk, quality and resources......31.5 Analyse the requirements of project governance arrangements............................................42.1 Project fits with an organisation’s overall vision, objectives, plans and programmes ofwork.............................................................................................................................................42.2 Agree the objectives and scope of proposed projects with stakeholders..............................42.3 The interdependencies and potential risks within a project..................................................52.4 Develop a project plan with specific, measurable, achievable, realistic and time-bound(SMART) objectives, key performance indicators (KPIs) and evaluations mechanismsappropriate to the plan.................................................................................................................52.5 Develop proportionate and targeted plans to manage identified risks and contingencies....52.6 Apply project life cycle approaches to the progress of a project..........................................63.1 Allocate resources in accordance with the project plan........................................................63.2 Project team members on their roles and responsibilities.....................................................63.3 Implement plans within agreed budgets and timescales.......................................................63.4 Communicate the requirements of the plans to those who will be affected.........................73.5 Plans in the light of changing circumstances in accordance with project objectives andidentified risks.............................................................................................................................73.6 Keep stakeholders up to date with developments and problems...........................................73.7 Complete close-out actions in accordance with project plans..............................................73.8 Organisational policies and procedures, legal and ethical requirements when managing aproject..........................................................................................................................................84.1 Periodic reviews of the progress and effectiveness of a project using information from arange of sources...........................................................................................................................84.2 The effectiveness of capturing and managing project-related knowledge............................94.3 Report on the effectiveness of plans.....................................................................................9
CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness administration is a broader field which incorporates various kinds ofmanagement position as well as give help a business firm in order to handle their operations as aresult objectives can be fulfil (Cooke and Alcadipani, 2015). It involves the whole aspects ofdirecting and overseeing the operation of business and also another field like finance, accountingand marketing. For this report the chosen company is TESCO which is a leading multinationalgroceries as well as general merchandise retailer. This report is based on TESCO, who isplanning to start a new outlet store at which they plan to sell their home products. For this itevaluates their mission, vision as well as plans which is suitable for project planning.1.1 Explain how to carry out a cost-benefit analysis for a projectCost benefit analysis is considered as a process through which company can examine theprojects, decisions and system or ascertain intangibles value. With the help of this tesco canevaluate the risks and rewards of projects. Cost benefit analysis uses in projects and step fordoing this are mentioned below:Brainstorm cost and benefits: At this step overall benefits as well as cost of tesco newoutlets store are listed and then appropriate ratio evaluation of cost and benefits is done whichshows the project life duration.Assign a monetary value to cost: At this stage, tesco assigned the monetary value tosome cost like advertising, distribution and so on. Monetary value to benefits: At this step, revenues are assumed first which is considereda tough task for new plan then what kinds of financial benefits tesco occurs from that and alsointangible benefits which is essential aspects for them.Compare cost and benefits: At this step, cost as well as value are compared andanalysed for this entire benefits and costs are evaluated within tesco.1.2 Use of risk analysis techniques Risk analysis refers to the analysation of all risk factors would potentially have a greatimpact over the operations of the organisations like TESCO (UK). These factors must beconsidered and managed by the management of the organisation by classifying them accordingto the risk analysis techniques (De Meyer, 2013). Some techniques of risk analysis are asfollows. 1
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