Project Management - An Approach to Improve Revenue Generation
Added on 2020-11-12
24 Pages3530 Words161 Views
Leadership ManagementProfessional Development
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INTRODUCTIONProject management has been denoted as the process of defining the tasks, scheduling, monitoring as well as defining cost (deOliveira and Rabechini Jr, 2019). Thus, it has been prepared by an individual or a corporation with a motive to successfully completethe desires planned in the required time frame. Thus, the accuracy of the appropriate time management as well as maintaining theoperational motives will be applicable and helpful to have better revenue generation. In the present report, there will be discussionbased on QAHE’s educational event to be launched for September 2019. Thus, in accordance with such planning and processing,there will be the use of various techniques including Gantt chart, risk register as well as several methodologies which will beeffective in obtaining the adequate gains.Project initiation document (PID) FILL ITTitle of Project QAHE’s educational eventEstimated budget 50000 poundsBrief breakdown of how youthink this money will be spent The cost will be allocated in the advertisement,invitations, arranging the catering services etc.Start date Mon 04-03-19Finish date Mon 01-07-19Project Sponsor Project Manager Main objectives (essentially ashort list of key businessreasons why this project isbeing undertaken) For initiating the project based on QAHE’s eventbased on communicating the students, sponsors andvarious investors regarding the upgradation ofuniversities as well as reforms in the technologies
have been communicated appropriately.Overall suggested approach(some major points describinghow you will go aboutachieving the aboveobjectives) PRINCE 2Any major risks that youwould like to highlight to thesponsor at this early point inthe project MismanagementReference(s)fortemplates/ideas used todevelop this For initiating the project based on QAHE’s event based on communicating the students, sponsors and various investorsregarding the upgradation of universities as well as reforms in the technologies have been communicated appropriately. Therefore,with the help of project management techniques, there has been a demonstration of several elements such as:Budgetary information: It has been determined that there are various operations which are required to be performed in theprojected event. Thus, on which professionals have been aimed at investing £50,000 which will be effective with reference tomaking the proper implication of costs in all desired and targeted activities of the firm. From initiating the project such as ideageneration and defining each activity on which making effective utilization of funds for all targeted aims (Farashah, Thomas andBlomquist, 2019). The allocation of costs to each activity have been based on effective decision making on which defining thetargeted goals will be helpful to bring better operational control.Timescales: On the basis of the event plan made by QAHE which have been defined by the business with reference to havingeffective management of operational practices. The event which has been planned to organized in September 2019 on which it can
be said that there are various tasks which are being scheduled as per the number of days for each task (de Oliveira and RabechiniJr, 2019). There has been scheduling of various activities based on university needs, location plan for the event, food andbeverages, proper attendance, invitations etc. However, the planning will start from 4th March 2019 and will be completed till 1st July2019.Objectives: It has been administered by the professionals for planning and organizing the event which will be assistive andhelpful to manage the entire process successfully (What are Project Objectives in Project Management, 2018). Objectives for theproject has been demonstrated by business professionals which are being relevant with perfectly communicating the refurbishmentas well as reforms in the used technologies will be applicable and adequate for meeting the targeted aims at the right time (Pivecand Maček, 2019).Approach: There have been various activities which are in motive to make an effective project management plan. It will beprofitable to the professionals for the event with reference to make adequate ascertainment of the operations (Liu and et.al., 2019).The concept and reforms in the business process of QAHE will be communicated to the students, sponsors as well as various otherinvestors to analyze the profitability of the university in the up coming period. Students will be encouraged as per considering thebest education services through skilled staff, upgraded technologies and proper administration of work. In approached towards this,there will be higher admission in the next period and the revenue of university will increase.Key staff: there has been the appointment of various employees which are in respect with making adequate operationalcontrol over activities (Lai, Deng, and Chang, 2019). As per considering the entire process for the event on which making theadequate ascertainment of the operational practices on which it includes catering services, stage management, projector operationsas well as several business targets. Recruitment of talented, skilled and qualified professionals which in reference to improving thequality of services.
Stakeholder analysis: There is various beneficiary which has been determined by the professionals on which various partiesare being involved (Gupta and et.al., 2019). Thus, there has been various individual which will have effective profitability and gainsthrough business operations such as:StakeholdersInterest in projectSponsorsThese are the individuals who areengaged in business with reference tomaking continued investment in the project(Burger, White, and Yearworth, 2019). Thebenefits of this project will result in anadequate increment of revenue in theupcoming period.OwnerThe owner, in the university on which theyare being responsible for managing theoperations (Tariq and et.al., 2019). Toallocate the funds appropriated in eachtask will be effective with reference tomanaging the operational practices.Event managerThey have been responsible for managingthe operational practices which are being
organised in the events of the firm(Jorgensen, 2019). Managing the cateringservices, event schedules, programprocess, projector etc. EmployeesThey have been trained andcommunicated for the effective efforts inthe operations to be done and managedby them. there are various activities in anevent such as catering, projector planningas well as managing activities in thebusiness (Ho and Chuah, 2019). They willbe trained and developed as per the skillsand qualification suitable for the requiredtasks in the event.InvestorsThe motive of the event is based onfetching the attention of investors withrespect to the growth of QAHE. Thereforming services, technical increment aswell as highly qualified staff have beenrecruited by them which are in approachtowards bringing the better educationfacilities to students (Farashah, Thomas
and Blomquist, 2019). Thus, it will beattractive towards students due to which ithas been estimated that the business willhave higher profitability in the upcomingperiod.StudentsThey are the main audiences in theproject. They have been communicatedregarding the refurbishment of theuniversity, increment in the teachingtechniques such as reforms in thelaboratories, the appointment of skilledteaching staff (de Oliveira and RabechiniJr, 2019). Thus, the benefits of educationalservices being presented among them withreference to retaining higher admission inthe upcoming period.TeachersThey have been presented with the use ofnew and reformative techniques in theoperational performance of the business(Pivec and Maček, 2019). They will betrained regarding the use of suchupgraded techniques.
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