Leading and Managing the Business Project

Leading and
Managing the
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Critically evaluate that how financial plan supports the strategic objectives of the project....1
2. Critically reflect the management or leadership of the project where they required to
increase staff for the implementation of project..........................................................................3
3. Critically explore the methods which used to support on-going project performance
improvement................................................................................................................................4
4. Evaluate that how information sharing with stakeholders will support the successful project
completion...................................................................................................................................6
5. Consider own development and identify the area which required to enhance with the help of
personal development plan (PDP)...............................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Leading and Managing the Business Project is the essential part of the organization
where project manager have to play vital role. A manager of the company follows various
management or leadership practice in order enhances employee’s performance as well as
productivity. It further helps the managers to successfully complete their projects or achieve
business goals & objectives. Leaders and managers should have required skills which help them
to perform effectively and able to complete their project for successful outcomes (Ahern, Leavy
and Byrne, 2014). In the organization, project manager have to develop a project which help the
business to grow and maximise production as well as profitability through expanding their
business. For the better understating, this report selects the medium size UK based restaurant that
is RED & BLUE Restaurants. Company established in 2010 where business co-owned by the
Jonathan Poole & Patrick Smith. RED & BLUE restaurant develop a new project where they
open a new outlet of Bacaro in Manchester in the end of 2019 (RED & BLUE Restaurant, 2019).
This restaurant is the group of three which include Bacaro, Salt House and hangover Street
Social brands. RED & BLUE expand their business, so in order to make this project successful
they have to adopt management or leadership skills. This report covers the various topics such as
management or leadership of the project where business required increasing staff in order to
implement their project phase. Explore the methods which used to support performance of team
at the time of ongoing project. In addition, it includes that how information sharing with
stakeholders support the project completion and strategic decision making. Along with this,
identify the area which required enhancing with the help of personal development plan.
MAIN BODY
1. Critically evaluate that how financial plan supports the strategic objectives of the project
Financial plan is a report which describing an company' present monetary position and long
term business objectives in terms of finance, as well as build plans for achieving those objectives
(Pollard, 2019). A financial strategy may be drawn up separately or with the assistance of a
certified financial consultant. Financial plan include the budget which categorise the expenses
that required fulfilling strategic objectives of the RED & BLUE restaurant.
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Strategic objectives: At the time of conducting any project in the organization, it is very
essential for managers to set strategic objectives. Some of them are discussed below in context of
RED & BLUE restaurant and which are as follow:
 Improve employee’s efficiency: Hiring employees in not sufficient to achieve business
goals & objectives. Managers of the company should provide additional training which
improving individual performance as well as efficacy.
 Hire skilled workforce: In order to increase their operational efficiency as well as
effectiveness, RED & BLUE restaurant have to hire skilled people by following effective
recruitment and selection process.
 Improve technical and analytical skill among the staff members: In a growing
business environment, it very essential for the employees to have such technical or
analytical skills. At the time of performing any task, these capabilities help the staff
members of RED & BLUE restaurant to response the critical situations accordingly.
In context of RED & BLUE restaurant, financial manager develop a plan in order to achieve
strategic objectives of any project (Keers and van Fenema, 2018). Financial plan helps in
evaluating company‘s performance and how well company able to achieve their goals. RED &
BLUE restaurant require increasing their staff members in the phase of project implementation.
Budget:
Items Amount (£)
Workshop Charges 1,000
Cost of Training Session 1,500
Fees of Experts 5,000
Refreshment 500
Total 8000
Above mention budget shows that total £ 8000 expenses have to bear the RED & BLUE
restaurant in order to increase their staff member’s efficiency. Restaurant wanted to increase
their staff for the implementation of project where manager have to spend such amount for
conducting training session, workshops etc. to improve employees efficiency. Managers want to
make their staff skilled that have analytical or technical skills to perform any project easily. In
order to achieve strategic objectives, management should spend this cost which included into
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