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TASK 14 1.1 Cost-Benefit Analysis for a Project

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Added on  2020-12-09

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4 1.2 Use of risk analysis techniques 4 1.3 Project planning and management tools and techniques 5 1.4 Impact of changes to project scope, schedule, finance, the risk, quality and resources 5 1.5 The requirements of project governance arrangements 5 TASK 26 2.1 Analysing the way a project fits within an organizations overall vision, objectives, plans and programmes of work. 6 2.2 Objectives and scope of proposed projects with stakeholders 6 2.3 The interdependencies and potential risks within a project6 2.4 Develop a project plan

TASK 14 1.1 Cost-Benefit Analysis for a Project

   Added on 2020-12-09

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TASK 14 1.1 Cost-Benefit Analysis for a Project_1
Table of ContentsBusiness Administration..................................................................................................................1TASK 1............................................................................................................................................41.1 Cost-benefit analysis for a project.........................................................................................41.2 Use of risk analysis techniques.............................................................................................41.3 Project planning and management tools and techniques.......................................................51.4 Impact of changes to project scope, schedule, finance, risk, quality and resources.............51.5 The requirements of project governance arrangements........................................................5TASK 2............................................................................................................................................62.1 Analysing the way a project fits within an organizations overall vision, objectives, plansand programmes of work............................................................................................................62.2 Objectives and scope of proposed projects with stakeholders..............................................62.3 The interdependencies and potential risks within a project..................................................62.4 Develop a project plan with objectives, key performance indicators and evaluationsmechanisms appropriate to the plan............................................................................................72.5 Develop proportionate and targeted plans to manage identified risks and contingencies....72.6 Apply project life cycle approaches to the progress of a project..........................................7TASK 3............................................................................................................................................83.1 Allocation of resources in accordance with the project plan................................................83.2 project team members on their roles and responsibilities.....................................................83.3 Implementation of plan within agreed budgets and timescales............................................93.4 Communicate the requirements of the plans to those who will be affected..........................93.5 Revised plans in the light of changing circumstances in accordance with project objectivesand identified risks......................................................................................................................93.6 Keep stakeholders up to date with developments and problems...........................................93.7 Complete close-out actions in accordance with project plans............................................103.8 Organisational policies and procedures, legal and ethical requirements............................10TASK 4..........................................................................................................................................104.1 Periodic reviews of the progress and effectiveness of a project using information from arange of sources.........................................................................................................................10
TASK 14 1.1 Cost-Benefit Analysis for a Project_2
4.2 Effectiveness of capturing and managing project-related knowledge...............................114.3 Report on the effectiveness of plans...................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
TASK 14 1.1 Cost-Benefit Analysis for a Project_3
INTRODUCTIONBusiness administration is the management of organization in terms of its operationsfunctionality and supervision. It helps the organization in effectively managing the resources,functions and operations of organization. It includes the administration of task, resources, funds,etc. Project management is the art of managing a project of business so that it can meet itsrequirement of completion. It is an effective part of business administration. The company heretaken is Marks and Spencer which is UK based company having a large chain of supermarketacross the globe. In this report, discussion of cost-benefit, risk analysis, project planning toolsand techniques, impact of changes to project scope, schedule, finance, risk, quality and resourcesare explained. Apart form that organization overall vision, objective, plans and programs ofwork, objective, scope of proposed project. Along with interdependencies and potential risks,SMART and KPI mechanisms are also explained in this report.TASK 11.1 Cost-benefit analysis for a project.Cost benefit analysis is the measurement of cost and benefits for evaluating theeffectiveness of the proposed projects. The cost benefit analysis is done in three steps which arestated as below:Identifying cost: In this method cost is identified which is used in the development of theproject.Identifying benefit: In this project, the benefit is identified which have come after theimplementation of project.Evaluate cost and benefit: In this step the cost analysis is done to evaluate the totalbenefit in the project so that success of the project can be evaluated. The cost should be low ascompared to the profit to increase the margin between the cost and benefit.1.2 Use of risk analysis techniquesRisk analysis is the component of analysing the upcoming risk in the implementation of afuture plan. Risks are identified on the basis of cost and expected result. If cost is more ascompared to the expected result than there is high risk in the project and vice versa. It helps aproject manager to identify the problem before it came into progress of project. By doing this, itis capable of resolving the particular issue so that there will be no problem arise in the successful
TASK 14 1.1 Cost-Benefit Analysis for a Project_4

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