Decision Making and Project Analysis

The provided assignment is about decision making and project analysis. It requires understanding of different techniques and methods for analyzing projects and making decisions. The document includes references to books, journals, and online resources that provide information on hierarchical decision making, goal-oriented business intelligence, multiple attribute decision making, and other relevant topics.

Business Decision
Making

INTRODUCTION
The principle goal of association is to achieve accomplishment through provision of their
distinctive capacities. It is the commitment upon administration is to take viable choices which
gets viability their activities. Basic leadership is the procedure which helps in determination of
the best option out of numerous choices. NPS and IRR are primary procedures which
comprehends about the most beneficial undertaking. Additionally there are numerous factual
devices like mean, middle and mode which reaches vital determinations from gathered data.
Through this extensive number of advantages are accumulated by association like upper hand,
higher piece of the overall industry, expansive number of benefits, construct great brand picture
and so forth. Blackfriars Restaurant is eatery which gives broadens cooking in London
(Rothman, 2017).
In the present report clarify about, use of essential and optional wellsprings of information
accumulation, outlining of test system and research strategies, definition of survey, reach
imperative inferences through use of factual instruments and measures of scattering. Likewise,
introduction of diagrams to draw critical data, production of pattern lines for future expectations
and utilization of data preparing and money related instruments for basic leadership.
TASK 1
1.1 Creating a plan for collecting primary and secondary data
Primary and secondary data is helpful in order to analyse the things better and effective in
frame. Every study have certain aspects and attribute which enable in accomplishing the things
properly and in better manner. Blackfriars restaurant includes about original and alternative
source of content so that better and suitable understanding could be promoted. Primary data: It is a kind of information whose surface is raw in nature. Business require
to understand the things which get gather from questionnaire or personal interaction. This
will result in providing beneficial and suitable determination of result.
 Secondary data: These data belong to books, journals, article gathering from where
better and suitable understanding get promoted. In management terms of Blackfriars, this
get done through analysing various aspects and consideration in better frame by their
financial reports.
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1.2 Survey methodology and sampling frame used
Study is a activity which enable and facilitate to gather data from various sources in order
to evaluate effective and better outcome. Surveys analysis is effective and appropriate in frame
so that chances of positive and supportive responses could be enhance and promote better.
Blackfriars restaurant determine various sources of survey which are define as follow:
 Survey Monkey: This is a kind of survey process which get done through online attribute.
This basically opt by large firms due to have vast area base which assist them in deriving
beneficial and suitable result in frame.
 Questionnaire: Another approach is questionnaire in which various questions get asked
from an individual. This will assist in drawing appropriate conclusion on the basis of
personal response so that effective and suitable gain could be assist.
 Personal interview: Another kind or time consuming method of survey is personal
interview. This process take more time and hard to analyse as well.
One of a best approach to gather information is questionnaire which enable and support in
analysing fact depends on large individuals. But for this process, there is a need to
understand sampling frame as well so that better and supportive results could be drawn. The
sampling frame which supposed to utilise on this attribute is random sampling where all
customers selected on random basis and do not have any kind of interference with another.
1.3 Design a questionnaire
This questionnaire is based on Blackfriars restaurant whom want to analyse individual
response for opening of their new restaurant. This includes 10 questions set which organise
through random sampling method for analysing better fact.
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QUESTIONNAIRE
Name:
Age:
Gender:
Email:
Phone Number:
Q1. Do you like products and services of Blackfriars restaurant?
a) Agree
b) Neutral
c) Disagree
Q2. Does products and services fulfil needs and wants of each and every individual?
a) Yes
b) No
Q3. How often you visit to restaurant in a month?
a) Twice
b) Once
c) Rarely
Q4. Are the products range and quality met with suitable standard?
a) Yes
b) No
Q5. Do you have any kind of concern with beverages quality standard?
a) Yes
b) No
Q6. Does any deviation stated related with staff working?
a) Agree
b) Strongly Disagree
Q7. Categories services?
a) Five star
b) Three star
c) Average
Q8. Do you refer this to some other individual?
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a) Yes
b) No
Q9. Which location is convenient for Blackfriars new chain?
a) Near to sea side
b) Rooftop
Q10. Any further and appropriate suggestion...
TASK 2
2.1: Designing data with the help of representative values
Q1. Do you like products and services of Blackfriars restaurant?
Particulars
No. of
respondents
a) Agree 26
b) Neutral 15
c) Disagree 9
Total 50
Mean
16.6666666
667
Median 15
Mode 8
Q2. Does products and services fulfil needs and wants of each and every individual?
Particulars
No. of
respondents
a) Yes 30
b) No 20
Total 50
Mean 25
Median 25
Mode 10
Q3. How often you visit to restaurant in a month?
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Particulars
No. of
respondents
a) Twice 15
b) Once 25
c) Rarely 10
Total 50
Mean 20
Median 20
Mode 5
Q4. Are the products range and quality met with suitable standard?
Particulars
No. of
respondents
a) Yes 35
b) No 15
Total 50
Mean 25
Median 25
Mode 5
Q5. Do you have any kind of concern with beverages quality standard?
Particulars
No. of
respondents
a) Yes 28
b) No 22
Total 50
Mean 25
Median 25
Mode 6
a) Twice 15
b) Once 25
5

c) Rarely 10
Q6. Does any deviation stated related with staff working?
Particulars
No. of
respondents
a) Agree 29
b) Strongly
Disagree 21
Total 50
Mean 25
Median 25
Mode 8
Q7. Categories services?
Particulars
No. of
respondents
a) Five star 12
b) Three star 25
c) Average 13
Total 50
Mean 18.5
Median 18.5
Mode 12
Q8. Do you refer this to some other individual?
Particulars
No. of
respondents
a) Yes 32
b) No 18
Total 50
Mean 25
Median 25
6

Mode 14
Q9. Which location is convenient for Blackfriars new chain?
Particulars
No. of
respondents
a) Near to
sea side 18
b) Rooftop 32
Total 50
Mean 25
Median 25
Mode 18
2.2: Evaluation of data those are collected from research
Year Sales Net Profit
2008 2480 950
2009 2500 1100
2010 2520 1200
2011 2620 1350
2012 2670 1560
2013 3100 1630
2014 3400 1720
2015 3600 1880
2016 3820 2200
2017 4150 2460
Mean 3086 1605
Median 2885 1605
Mode 0 0
Mean: This method is useful to attain the average value from the given series. The
formula which is used to gather information is sum of all the values which are present in a series
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and divided by the total number of values. In the present report, this method is used by the
manager of Black friars to ascertain the average amount of sales and net profit from the figures
of past year to gain important information and improvement of the knowledge. In the present
report, mean of the sales and net profit is ascertained by Black Friars restaurant as 3086 and
1605.
Median: It is refers as the middle value of the series. It can be calculated differently if the
number which are present in series and in even or odd form (Rothman, 2017). To calculate the
median from the given series need to arrange the data is ascending order. In the present report
this method issued by the manager of Black friar’s restaurant for the purpose of diving the lower
and upper of half of sales and net profit. The medina of sales and net profit is 2885 and 1605.
Mode: It refers as the value which occurs most in the series. The main role of this method
behind its use by the manager to find out the value which occurs most in the given series of sales
and net profit. It will enhance the decision making of management is to make good decisions
which contributes in the success of organization.
2.3: Analysing measure of dispersion
Year Sales Net Profit
2008 2480 950
2009 2500 1100
2010 2520 1200
2011 2620 1350
2012 2670 1560
2013 3100 1630
2014 3400 1720
2015 3600 1880
2016 3820 2200
2017 4150 2460
Minimum 2480 950
Maximum 4150 2460
Standard
deviation 619.5913 481.8541
Correlation 0.96164
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coefficient
Range: It is effective method which enhances the decision making of management
through assess the minimum and maximum figures from the given series which contributes to get
maximum results. In the present report, management of Blackfriars restaurant used this method
to assess the minimum and maximum value of sales and profit and identification of the issues
which are behind the in gathering of such data. The minimum value of sales and net profit is
2480 and 950. The maximum value of sales and net profit is 4150 and 2460.
Standard deviation: This method is used by the manager of Blackfriars restaurant to
assess the amount of risk which is associated with their project of opening of new branch in
London (Sethi and Zhang, 2012). It enhances their decision making power and helps to make the
strategies and plans which reduce such future risks and makes the project more secure and
sustainable. The standard deviation of sales and net profit is 619.5913 and 481.8541.
2.4: Advantages of using quartile, percentile and coefficient correlation
Quartile: It is said to type of quantile. It is categories into Q1 which is considered as
middle number among smallest one and median of the given data. The Q2 is median of the data,
while Q3 is the middle value among median and highest value of the data series.
Advantage:
 It is basically use in accordance with the open-end distribution.
 It cannot be affected through the presence of extreme values.
Percentile: It is said to be the measurement and use of statistic indication of the value those
are mentioned in percentage of observation in any set of data. Like for example, 50th percentile is
the value below which 50% of the opinion can be determine.
Advantage:
It used to provide specific combination of probability that is more conservative than the form
of short term data. It allows business some kind of flexibility to make use of higher percentile on
a case by case basis.
Correlation coefficient: It refers to an effective tools and techniques which is been used to
measure the relationship among two or more variable. It can indicate the presence or absence of
relations of the variables.
Advantage:
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This method can be used for ranking purpose, like for example in case company is having
two projects and manager wants to determine which one is the best. At that time, this method can
be more useful to analyse the relationships between those two projects.
TASK 3
3.1: Different charts and graphs
Q1. Do you like products and services of
Blackfriars restaurant?
Frequency
a) Agree 26
b) Neutral 15
c) Disagree 9
Q2. Does products and services fulfil needs
and wants of each and every individual?
Frequency
a) Yes 30
b) No 20
10
a) Agree b) Neutral c) Disagree
0
5
10
15
20
25
30
26
15
9
Column B

Q3. How often you visit to restaurant in a
month?
Frequency
a) Twice 15
b) Once 25
c) Rarely 10
Q4. Are the products range and quality met
with suitable standard?
Frequency
a) Yes 35
b) No 15
11
30
20
a) Yes
b) No
a) Twice b) Once c) Rarely
0
5
10
15
20
25
30
15
25
10 Column B

12

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Q5. Do you have any kind of concern with
beverages quality standard?
Frequency
a) Yes 28
b) No 22
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15

Q6. Does any deviation stated related with
staff working?
Frequency
a) Agree 29
b) Strongly Disagree 21
Q7. Categories services? Frequency
a) Five star 12
b) Three star 25
c) Average 13
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Q8. Do you refer this to some other
individual?
Frequency
a) Yes 32
b) No 18
Q9. Which location is convenient for
Blackfriars new chain?
Frequency
a) Near to sea side 18
b) Rooftop 32
17

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3.2: Trend line
Trend Line: It refers as the line which is drawn over the highest and lowest points to
show the future trend. This line provides large number of support to assess the change in future
among the variables upon which the line is drawn. Generally, this line is used by the organization
regarding to assess the future trend of their sales and profit figures. It helps the management of
organization to make the strategies according to future aspects to get higher number of results.
Year Sales Net Profit
2017 4150 2460
2018 4200 2500
2019 4450 2540
2020 4600 2650
From the above trend line chart assessed that the management of Blackfriars restaurant
wants to know the future trend of their sales and profit. It is observed from the above trend of
sales and profit is that both are increasing with continuous growth rate (Pourshahid, Richards and
Amyot, 2011). In 2017, the figure of sales is 4150 which is reached to the mark of 4600 in
2020.On the other hand, the amount of profit which earned by the restaurant in 2017 is 2460
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1 2 3 4
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
2017 2018 2019 2020
4150 4200
4450 4600
2460 2500 2540 2650
Column A
Linear (Column A)
Column B
Linear (Column B)
Column C
Linear (Column C)

which is increased up to 2650 in 2020. It depicts that current performance of restaurant is good in
market and customers are satisfied with their services. So, it is viable for Blackfriars restaurant to
open new branch in London. Also, they have the sufficient amount of the funds which
contributes in expansion activities of the restaurant in effective manner (Nooraie, 2012).
3.3: Covered in PPT
3.4: Formal report
Report
To,
The Restaurant Manager
Date: 16th May, 2018
Subject: Gathering of the views respondent about opening of new branch of Black friars
restaurant in London
Introduction
Black friar’s is a well known restaurant which provides various cuisines in London.
Through providence of their different the restaurant wants to grab the large market share in
London and wants to improve their number of profits. For this purpose management of restaurant
decided to open new branch in London to attract the customers in more numbers and satisfies
their demand in more effective way. To make their project more successful need to take the views
and feedbacks of respondents to check the viability of their move. Research plays an effective
role to garb the information through use of primary and secondary methods.
Methodologies
Firstly, Random sampling method is used to for selection of number of respondents for
the total population to carry on research activities. Afterwards, primary method is used where
close-ended questionnaire is prepared which contains 10 different research based questions.
Findings
It is observed from the analysis of the results of research that large number of respondents
is in the favour of the opening of new branch of restaurant in London.
Conclusion
It has been concluded from the above report that Black friar’s restaurant is doing well in
current market scenario and through opening of new branch in London they are able to attract the
large number of customer and earning of the huge amount of profits. This will provides the
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opportunity is to improve their market share through satisfaction of the different preferences of
customers and bring changes in their restaurant according to the needs of current trends.
Thanks and Regards
Quality Team
TASK 4
4.1 Using of information processing tool
Such instruments have tremendous significance for enhancing correspondence process
inside the association. The principle apparatuses which incorporates under this are Decision
emotionally supportive networks, Transactional preparing framework and administration data
framework. Every single such framework have their diverse capacities and points of interest. In
utilized by the administration of Blackfriars for expulsion of correspondence holes and finding
out coordination in their business exercises. It gives the open door in regards to change of
general execution of eatery (March, 2013).
Management information system: It current framework which does the data in more sorted out
way about the exercises of all division which are working inside the eatery. Through use of such
electronic framework uncommon reports are effectively created with respect to execution.
Transition support system: It gives the chance to the administration of eatery is to figure the
exchanges which are occur on consistent premise. It gives the chance to make essential
determinations through elucidation of such everyday capacities (Crowfoot and Wondolleck,
2012).
Decision Support system: The primary capacity of this framework is to offer help to the
supervisor with respect to successful basic leadership about their future tasks. This will gives the
open door with respect to accomplishment of intensity and driving out their rivals out of the
market.
4.2 Plan for disseminating the data
Critical path is a viable strategy which gives the data about the era which is taken by the
diverse parts of the undertaking to finish. Through the utilization of this strategy basic leadership
limit is upgraded to finish such way first which has the longest span. It gives the open door in
regards to achievement of their venture inside a stipulated timeframe. In the event that ways are
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not chosen based on day and age then it isn't conceivable to finish their venture according to
given time span (Saaty and Peniwati, 2013).
Path A: 1+4+7+8 = 10Days
Path B: 1+2+5+6+8 = 15 Days
Path C: 1+2+3+7+8 = 17 Days
It get evaluated from above mentioned consideration that Path A take the shortest
duration in order for completion of project. This facilitate and enable in defining the things better
and in supportive manner so that deriving beneficial and effective gain could become possible
which further enables in defining things better and in articulated manner. Path A will going to
take 10 days so that all essential requirement get fulfil.
4.3 Use of financial data for decision making
Financial analysis helpful in order to determine the things in better and supportive manner.
A financial projection is really essential to done the things better and effective in nature of frame.
Blackfriars have to estimate their net present value and internal rate of return of the project in
order to get things done better and supportive.
Project Discounting factor Discounted cash inflow
Year Cash Flow 12.00% Present Value
0 -190000 1 -190000
1 50000 0.893 44645
2 64000 0.797 51020.8
3 58000 0.712 41284.4
4 70000 0.636 44485
Total P.V 181435.2
Initial investment of year -190000
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