Business Administration: Assignment
13 Pages4157 Words363 Views
Added on 2020-10-22
Business Administration: Assignment
Added on 2020-10-22
ShareRelated Documents
BUSINESSADMINISTRATION58
Table of ContentsINTRODUCTION...........................................................................................................................41.1 Explain how to carry out cost benefit analysis for a project............................................41.2 Evaluate the use of risk analysis techniques.....................................................................41.3 Evaluate project planning and management tools and techniques...................................51.4 Evaluate the impact of changes to project scope, schedule, finance, risk, quality andresources.................................................................................................................................51.5 Analyse the requirements of project governance arrangements.......................................62.1 Analyse how a project fits with an organisation's overall vision, objectives, plans andprogrammes of work...............................................................................................................62.2 Agree the objectives and scope of proposed projects with stakeholders..........................72.3 Assess the interdependencies and potential risks within a project...................................72.4 Develop a project plan with specific, measurable,time bound objectives, key performanceindicators and evaluations mechanisms appropriate to the plan............................................72.5 Develop proportionate and targeted plans to manage identified risks and contingencies82.6 Apply project life cycle approaches to the progress of a project.....................................83.1 Allocate resources in accordance with project plan.........................................................93.2 Project team members and their roles and responsibilities..............................................93.3 Implement plans with agreed budgets and timescales......................................................93.4 communicate the requirements of the plans to those who will be affected....................103.5 Revise plans in light of changing circumstances in accordance with project objectives andidentified risks......................................................................................................................103.6 Keep stakeholders up to date with developments and problems....................................103.7 Complete close out actions in accordance with project plans........................................113.8 Adhere to organisational policies and procedures, legal and ethical requirements whenmanaging a project...............................................................................................................114.1 Conduct periodic reviews of the progress and effectiveness of a project using informationfrom a range of sources........................................................................................................114.2 Evaluate the effectiveness of capturing and managing project related knowledge........124.3 Report on the effectiveness of plans...............................................................................12Conclusion ....................................................................................................................................12
INTRODUCTIONBusiness administration is a management term in that includes various types ofmanagement positions. For every corporation to sole businesses for operations there is need toskilled and talented administrators to get success. In business administration includes accounting,finance and marketing related activities which are crucial for organisation. This report is basedon Aldi which is discount based supermarket chain of over 10,000 stores in 20 countriesapproximately. That report explains about role of cost benefit analysis and its implication inproject. It also explains risk analysis techniques which helps to eradicate maximum risk frombusiness. It elaborates project planning and management tools and techniques which helps toplan about businesses. It evaluating effect of changes to scope of project, its schedule and riskand quality resources in project and many more things which that report explains.1.1 Explain how to carry out cost benefit analysis for a project.Cost benefit analysis is a technique that use for to compare and evaluate the project costwhile produce or incorporate it. Project managers avail cost-benefit analysis in the beginning ofthe project to evaluate the value of project. Approval of project should be receive after evaluatethe cost benefit analysis to spend money on that project. It helps to evaluate value deliver byproject against the cost to business. Sometimes in special circumstances managers decide to goahead in project that occurs more cost in comparison to value that it deliver. For testingjustification of cost benefit analysis proper data and research should be conducted to measurevalue and cost of project in Aldi. For implications of cost benefit analysis it is necessary toevaluate for how many years means how far in future organisation plan and take benefits from it.And assumptions of cost benefit analysis (Ackermann, 2012). So cost and deliver value are mostimportant attributes that helps in its implication.1.2 Evaluate the use of risk analysis techniquesRisk is inherent with every activity in fact human daily life is surrounded with risk. Inbusiness there are many types of risk associated and many measures also available with them. Soit gives the solution of question that project fail to operate in expected during its operationalcycle of life (Allais and Hagen, 2013). In that case business have to measure different types ofrisks with associated with project. Techniques of measuring risk are brainstorming, sensitiveanalysis, probability analysis, Delphi method etc. which give direction related to risk reduction.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
TASK 14 1.1 Cost-Benefit Analysis for a Projectlg...
|12
|3973
|421
Business Administration Introduction to Project Governancelg...
|13
|3859
|294
Business Administration Assignment - Tescolg...
|13
|4421
|460
Business Administration Assignment - Aldi companylg...
|15
|3906
|179
Business Administration - Doclg...
|14
|4196
|205
(PDF) International Journal of Business Administrationlg...
|13
|4069
|108