Project Plan and Critical Path Analysis

This assignment provides a comprehensive project plan and critical path calculation. It includes a schedule network diagram, which is used to identify the critical path and calculate the minimum duration required to complete all tasks. The project's initial investment is $190,000, and the Net Present Value (NPV) is negative $8,564.8. The Internal Rate of Return (IRR) is 9.94%. This report utilizes close-ended questionnaires to gather accurate opinions from respondents and employs quartiles, correlation coefficient, and percentiles to draw valid conclusions.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for collection of primary and secondary data...............................................................1
1.2 Survey methodology and sampling frame used....................................................................2
1.3 Questionnaire for a given business problem.........................................................................3
TASK 2............................................................................................................................................5
2.1 Information for decision making by summarising data........................................................5
2.2 Results to draw valid conclusions.........................................................................................7
2.3 Data using measures of dispersion........................................................................................8
2.4 Quartiles, percentiles and the correlation coefficient are used to draw useful conclusions .9
TASK 3............................................................................................................................................9
3.1 Graphs using Spreadsheets and draw valid conclusions.......................................................9
3.2 Trend lines in spreadsheet graphs.......................................................................................16
3.3 Covered in PPT...................................................................................................................18
3.4 Formal business report........................................................................................................18
TASK 4..........................................................................................................................................19
4.1 Appropriate information processing tools...........................................................................19
4.2 Project plan for an activity..................................................................................................19
4.3 Financial tools for decision making....................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Decision making refers to process of choosing from set of the alternative action courses,
which thought to satisfy aims of decision issues more satisfactory as comparison to others. It is
an internal part of management and manager take many decisions which can make business more
successful (Aharoni, 2015). It is a necessary function in management if decision making is
concerned to issue, better decision making aids in attain set objectives and aims through solving
issues. Food For Friends is a vegetarian restaurant which serve innovative dishes as well as
providing set seasonal menu. In this given business report discuss about the survey methodology
and also sampling frame. The percentiles, correlation coefficient and quartiles all are used to
draw valid conclusion in business will be mention in this mention report. Under this mention
assignment discuss about use of the financial tools for the decision making.
TASK 1
1.1 Plan for collection of primary and secondary data
Food for friends is firm which is recently providing services in London. Company have
large varieties of products in menu which help seniors to grab attention of people. Prime purpose
of restaurant is to enlarge operations to enhance sales as well as revenue. To achieve this
objective, administration has make decisions in respect to opening new outlets in London. Thus,
efficient judgements are made in different aspects which influence business operations.
Primary and secondary sources of data collection are used by management to have accurate and
complete information about market conditions. Market survey is techniques which help them to
take opinion from respondents about services and items (Chen, Chiang and Storey, 2012). This
benefits company to acknowledge its reputation and image in respect to competitors, thereby
take appropriate decisions and design system accordingly.
Primary source: It includes collecting new information and data which has not gathered before.
In this, information is to be collected for specific purpose. It is used through an investigator to
gather opinions as well as view points from respondents directly. Information and data which is
gathered from respondents is reliable as well as true related with topic of investigation. In
addition to this, it gives an effective opportunity to employer to take better decision. There are
different methods of primary source like survey, questionnaire, focus groups etc.
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Surveys- It is an effective methods and helpful in achieve information by respondents
gestured because in this face- to- face communication is included. There is a requirement to take
more time to gather information as comparison to the other methods.
Questionnaire- It involves set of investigation questions related to business problems. It
is of two types like close and open ended (Clemen and Reilly, 2013). On questionnaire, there are
different questions are methods and researcher take opinions of people.
Focus groups- It is qualitative research form including interviews under which group of
individuals are asked regarded to their opinions, attitudes, perception towards service, idea,
goods etc. It is group of individuals which are built to participate in explanation regarding goods
and services before launches or give proper feedback.
Secondary source- It consists synthesis, summary and collation of current investigation. It is
contrasted with the primary investigation. Under this, researcher gathered data through some
one. In order to collect information, researcher use articles, books, libraries, journals etc. It is
cost as well as time saving method but it does not give reliable information and data as
comparison to the primary method.
1.2 Survey methodology and sampling frame used
In order to achieve success in an expansion plan, there is a requirement to gather relevant
information and data. It contribute towards taking better decisions regarded to set up of new
restaurant in the London. In context to this, there is a need to an investigator to adopt better
research methodologies. It gives an effective opportunity related to solve problems which are
arise at the time of executing plan. With the help of better research methodology, researcher can
collect appropriate and relevant data in an effective or better manner (Hilton and Platt, 2013).
Various kinds of research methods are mention:
Descriptive- It is used to explain about characteristic of population or any phenomenon
being to be studied. It consists study and survey methodologies which aids in determination of
facts and figures related to existing affairs which researcher wants from investigation. It consists
gathering of new data and information in order to interpret necessary conclusion.
Quantitative and qualitative research- Quantitate investigation consists gathering of
information from information and data in form of the quality. It will be helpful in taking better
decisions. On the other qualitative research consist collection of data from people through their
behaviour, attitudes etc.
2

Exploratory research- It is conducted for issues which are not studied in an intended and
clear manner in order to establish priorities and also develop better operational definitions to
make improvement in research design.
Research methodologies
It refers to theoretical and systematic analysis of methods which applied to area of study.
In this, there are two different methods primary and secondary which are available for researcher
(Holmes and Paudyal, 2012). In this case, primary research method is chosen because it is
helpful for decision making regarding starting new branch in London. Under this method, data is
collected through questionnaire on which 10 various questions are maintained.
Designing of sample framework
It consists regarding adopt of an effective methods which aids an investigator concerning
about chosen of some respondents from the total population. There are different method of
sampling like stratifies, random and cluster. Under this, researcher used random sampling
method and select 40 respondents. Necessary information which an investigator collected about:
Identify better plane in London in order to set up business.
1.3 Questionnaire for a given business problem
Questionnaire: It is an investigation instrument including series of the questions fore aim of
collecting information and data from respondents. It consists preparations of the investigation
questions according to their objectives (Macaulay, 2018). It is divided in to two different parts
which are mention below as above:
Open-ended- It helps in achieving view points as well as opinions of different
respondents as it gives freedom to give opinions.
Close-ended- It gives many answers under which researcher requires to chose one from
respondents on the basis of their choice.
Questionnaire
Name:
Occupation:
Age:
Gender:
Q1) Does another branch of Food for Friends is viable move in London?
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a) Yes
b) No
Q2) Which service needs to improve to Food For Friends to attract the large number of
consumers?
a) Better food quality
b) Ambiance
c) Quick services
Q3) Which place you will suggest to open new branch of Food For Friends in London?
a) Main city
b) Near by tourist places
c) Outside area
Q4) Which dish you like the most in Food For Friends restaurant?
a) Chinese
b) Italian
c) French
Q5) In a month, how many times you like to visit Food For Friends?
a) Once in a month
b) Twice in month
c) Thrice in a month
Q6) According to you, does Food For Friends require to make any changing in its new
restaurant?
a) Yes
b) NO
Q7) Is expansion helpful in improve brand reputation of Food For Friends company?
a) Yes
b) No
Q8) Is expansion of business provides competitive advantage to firm in order to sustain long
term at market place?
a) Yes
b) No
Q9) Are you satisfied from the pricing policies of this restaurant?
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a) Yes
b) No
Q10) Give recommendations for increase business operations for Food For Friends.
TASK 2
2.1 Information for decision making by summarising data
Q1) Does another branch of Food for Friends is viable move in London?
Particulars No. of respondents
Yes 26
No 14
Total 40
Mean 20
Median 20
Mode 12
Q2) Which service needs to improve to Food For Friends to attract the large number of
consumers?
Particulars No. of respondents
Better food
quality 20
Ambiance 10
Quick
services 10
Total 40
Mean 13.3333333333
Median 10
Mode 0
Q3) Which place you will suggest to open new branch of Food For Friends in London?
Particulars No. of respondents
5

a) Main city 16
b) Near by
tourist places 14
c) Outside
area 10
Total 40
Mean 13.3333333333
Median 14
Mode 6
Q4) Which dish you like the most in Food For Friends restaurant?
Particulars No. of respondents
a) Chinese 10
b) Italian 20
c) French 10
Total 40
Mean 13.3333333333
Median 10
Mode 0
Q5) In a month, how many times you like to visit Food For Friends?
Particulars No. of respondents
a) Once in a
month 25
b) Twice in
month 10
c) Thrice in a
month 5
Total 40
Mean 13.3333333333
Median 10
6

Mode 0
Q6) According to you, does Food For Friends require to make any changing in its new
restaurant?
Particulars No. of respondents
a) Yes 25
b) No 15
Total 40
Mean 20
Median 20
Mode 10
Q7) Is expansion helpful in improve brand reputation of Food For Friends company?
Particulars No. of respondents
a) Yes 23
b) No 17
Total 40
Mean 20
Median 20
Mode 6
Q8) Is expansion of business provides competitive advantage to firm in order to sustain
long term at market place?
Particulars No. of respondents
a) Yes 24
b) No 16
Total 40
Mean 20
Median 20
Mode 8
7

Q9) Are you satisfied from the pricing policies of this restaurant?
Particulars No. of respondents
a) Yes 15
b) No 25
Total 40
Mean 20
Median 20
Mode 15
2.2 Results to draw valid conclusions
Year Sales Net Profit
2008 2400 950
2009 2460 1100
2010 2510 1350
2011 2590 1490
2012 2650 1550
2013 3100 1640
2014 3300 1780
2015 3950 1960
2016 4100 2100
2017 4550 2500
Mean 3161 1642
Median 2875 1595
Mode 2400 950
Mean: It is calculation of past sales as well as net profit figures of Food For Friends firm
from 2008 to 2017 in order to ascertain amount that incurred over time period (Perlmutter,
2017). It is helpful in take better decision by use of average figures. Mean of net profit and sales
is 3161 and 1642.
Median: It helps in segregation of present value as upper and also lower half data,
median of net profit and sales is 2875 and 1595.
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Mode: It helps to ascertain figure from present sales and new profit. Modes of new profit
and sales is 2400 and 950.
2.3 Data using measures of dispersion
Year Sales Net Profit
2008 2400 950
2009 2460 1100
2010 2510 1350
2011 2590 1490
2012 2650 1550
2013 3100 1640
2014 3300 1780
2015 3950 1960
2016 4100 2100
2017 4550 2500
Minimum 2400 950
Maximum 4550 2500
Standard
deviation
784.438227863
3
466.13779555
45
Correlation
coefficient 0.9488205625
Range- IT is helpful in determine maximum and minimum sales and net profit values from
mention series (Pettigrew, 2014). It aids in search reasons which minimized sales as well as net
profit to take necessary solutions. Under this, minimum sales and net profit range is 2400 and
950. On the other hand, maximum range is 4550 and 2500.
Standard deviation: It helps in identify risk which is related with project. In this, standard
deviation is 784.4382278633 and 466.1377955545.
Standard deviation: √∑Fdx2/N – (∑Fdx/N) 2
9

2.4 Quartiles, percentiles and the correlation coefficient are used to draw useful conclusions
Quartile- It is used for understand regarding deviations in series. It is effective because
there is no requirement to use any mathematical obligations.
Percentile- It aids in resolve problems which are available. Necessary percentile is 25th.
Correlation coefficient- It is helpful in understand relationship among two different
variables. Outcomes are optimum if falls among range of 1 to-1.
TASK 3
3.1 Graphs using Spreadsheets and draw valid conclusions
Q1) Does another branch of Food for
Friends is viable move in London?
Frequency
Yes 26
No 14
Q2) Which service needs to improve to Food Frequency
10
Yes No
0
5
10
15
20
25
30 26
14 Column B

For Friends to attract the large number of
consumers?
Better food quality 20
Ambiance 10
Quick services 10
Q3) Which place you will suggest to open
new branch of Food For Friends in London?
Frequency
Main city 16
Near by tourist places 14
Outside area 10
11
20
10
10
Better food quality
Ambiance
Quick services

12
Main city Near by tourist places Outside area
0
2
4
6
8
10
12
14
16
Column B

Q4) Which dish you like the most in Food
For Friends restaurant?
Frequency
Chinese 10
Italian 20
French 10
Q5) In a month, how many times you like to
visit Food For Friends?
Frequency
Once in a month 25
Twice in month 10
Thrice in a month 5
13
10
20
10
Chinese
Italian
French

Q6) According to you, does Food For
Friends require to make any changing in its
new restaurant?
Frequency
Yes 25
No 15
14
Once in a month Twice in month Thrice in a month
0
5
10
15
20
25
30
25
10
5
Column B

Q7) Is expansion helpful in improve brand
reputation of Food For Friends company?
Frequency
Yes 23
No 17
15
Yes No
0
5
10
15
20
25
25
15
Column B

Q8) Is expansion of business provides
competitive advantage to firm in order to
sustain long term at market place?
Frequency
Yes 24
No 16
16
23
17
Yes
No

Q9) Are you satisfied from the pricing
policies of this restaurant?
Frequency
Yes 15
No 25
17
Yes No
0
5
10
15
20
25
Column B

3.2 Trend lines in spreadsheet graphs
Trend line gives tendencies that aids in examination of future action courses. It is used to
represent variable regarding their support and also time taken in the future to show some
modifications.
Year Sales Net Profit
2017 4150 2100
2018 4350 2250
2019 4490 2390
2020 4550 2500
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Yes
No

19
1 2 3 4
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
4150 4350 4490 4550
2100 2250 2390 2500 Sales
Linear (Sales)
Net Profit
Linear (Net Profit)

This trend line chart is prepared through management of Food For Friends company to
understand regarding future sales and profit. From this, sales and also net profit is enhanced with
a constant rate. It specified that consumers are satisfied from its current services and products.
3.3 Covered in PPT
3.4 Formal business report
Report
To,
The Restaurant Manager
Date: 18th June, 2018
Subject: Gather of information and data from different respondents to check viability of its
business expansion in London.
Introduction
Food for Friends is restaurant that gives its services and products in London. Main aim of this
restaurant is to increase its business operations and activities in order to generate more profit. In
context to this, Food For Friends decide to start its second branch in London city. For ascertain
viability of its move required to take opinions and view points of consumers as well as their
existing preferences. In this, an investigation plays a necessary role for gathering necessary
information and data. There are primary and secondary data collection methods are helpful in
collect relevant data which help in take better decisions related to firm.
Methodologies
Under this, an investigator used random sampling method for choosing 40 respondents from the
total population. For collect data or information from different respondents, researcher used
close- ended questionnaire which include 10 various questions regarding specific topic of an
investigation.
Findings
On the basis of achieved view points by 40 respondents, it has been stated that consumers are in
the favour of starting another restaurant in London. They are satisfied with its existing foods
quality as well as services. In order to achieve success, there is a requirement to make some
modifications on the basis of existing trends and preferences which aids in attract new
consumers towards firm.
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Conclusion
From the above given report, it has been concluded that by starting of another new restaurant,
many advantages can collected through this restaurant such as large market share, competitive
benefits, satisfy demands of consumers, better brand reputation etc.
TASK 4
4.1 Appropriate information processing tools
For improving communication procedure, there are some tools which play necessary role
in company. In these tools include Transactional processing system, Management information
system and Decision support systems (Provost and Fawcett, 2013). The functions as well as
benefits of all systems are varied from the each other. In order to reduce communication gap,
effective systems are used through Food For Friends organisation and also ascertain coordination
in its business activities as well as operations. It gives an effective opportunity related to make
improvement in performance level of this restaurant. These systems are given below as above:
Decision support system- It refers to information system that supports organisational as
well as business decision making activities. It is computerized information system that used for
support the decision making in business or firm.
Management Information System- It is computerized database of the financial
information programmed and organized in such way that it makes reports continuously in
operations for each management level in firm.
Transactional processing system- It is information processing system for the business
transaction including modification, retrieval and collection of transaction data or information
(Vahlne and Johanson, 2017). It gives better opportunities to draw necessary conclusion by
interpretation daily functions.
4.2 Project plan for an activity
Critical path- It is one of the effective method which gives information and data
regarding time period which taken through various aspects for finish project. It is sequence of the
stages identifying less time which required for operation and activities specially in case of large
size organisation. With the help of this, managers can take better decisions in order to finish path
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that decision which take longest duration. If in case the path is not chosen according to time
duration then the project will not be completed in given time period.
Path A: 1+4+7+8 = 10 Days
Path B: 1+2+5+6+8 = 15 Days
Path C: 1+2+3+7+8 = 17 Days
From the above calculation, it has been concluded that Path C takes more time to finish
that is 17 days. There is a requirement to management to first finish this path in order to attain
desired needs (Zsambok and Klein, 2014). It is helpful in make improvement in the working
effectiveness and efficiency.
4.3 Financial tools for decision making
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
22

NPV -8564.8
IRR 9.94%
From given calculation, it has been observed that initial investment in this project is
190000. under this, NPV (Net Present Value) is gained negative of 8564.8. ON the other hand,
IRR (Internal Rate of Return) is attained as 9.94% under this project.
CONCLUSION
It has been concluded from the above given report that or gather data, researcher used
better data collection method which provide accurate as well as reliable. In this, Food for Friends
use Close- ended questionnaire that aids to achieve better responses as well as opinions of
different respondents. Under this report studied about the project plan for activity and also
identify critical path. Quartiles, correlation coefficient and percentiles are used for draw valid
conclusion has been discussed under this assignment.
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REFERENCES
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Online
Mean, Median, Mode and Range. 2017.[Online].Available
through:<http://www.purplemath.com/modules/meanmode.htm>.
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