Managing a Successful Business Project

Managing a Successful
Business Project
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Contents
TASK A...........................................................................................................................................3
Title of the Project...........................................................................................................................3
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Research aim and objectives..................................................................................................3
Project management plan.......................................................................................................5
Work breakdown structure and Gantt chart............................................................................6
Research Methodology...........................................................................................................6
Data Analysis...................................................................................................................................8
Conclusion............................................................................................................................16
Recommendations................................................................................................................17
Reflection.............................................................................................................................17
TASK B.........................................................................................................................................17
Personal Performance Review..............................................................................................17
REFERENCES..............................................................................................................................20
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TASK A
Title of the Project
Talent management strategies that are used by business to attract and retain talent within the
organisation.
Introduction
Managing successful business project mainly termed as the essential responsibility of a
business or its management to implement their organisational operations in systematic direction
to carry out the work in right manner to develop their operations and progression. The study is
encompassing over the talent managements strategies implemented by the businesses to attaining
growth, therefore, talent management is mainly defined as the process of attracting, on-boarding,
motivating and retaining employees for longer run of business operations. In this present study,
analysis is being executing over Starbucks, it is an American multinational chain of coffeehouses
and coffeehouses chain (Lock, 2020). The headquarter of the firm is in Seattle, Washington,
United States. The company was founded in the year of 1971 by the significant and collective
strength of Gordon Bowker, Jerry Baldwin, Zev Siegl. The company is working with around
349000 employees, who are putting their significant strength in the growth operations of the
business However, the motive of the business is to attracting and retaining employees at
workplace for the intention to developing the operational ability of the business. The major
reason of executing analysis over this aspect is that, managing talent is a key issue which is
widely being faces by the businesses at workplace. Therefore, the study is imperative in
providing descriptive evaluation over the chosen study area and provides suitable personal and
professional skills and individual to attain growth and development.
Main Body
Research aim and objectives
Research Aim –
The key aim of the research is “To investigate different talent management strategies
used by organisations to attract and retain best talent within business. A study on Starbucks”.
Research objectives –
 To study the concept of talent management in the context to business.
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 To identify different talent management strategies implemented by the business.
 To determine the challenges faced by Starbucks and its management in attracting and
retaining talent at workplace.
Research Questions –
 What is the concept of talent management in the context to business?
 What are the different talent management strategies implemented by the business?
 What challenges are mainly faced by Starbucks and its management in attracting and
retaining talent at workplace?
Literature Review
According to the opinion of White (2019), Talent management is defined as the systemtic
tool of evaluating the assorted vacant position within business through hiring the suitable
candidate for the vacant profile and analysing the key skills and expertise of the people to match
the desired job position. The key purpose of the talent management is to analysing, recruiting
and holds up over the individual who are effective in driving the success of the business. it
mainly termed as the top priority strategy process for forward looking individual business who
can understand that their business performance is widely encompasses over the performance of
workforce.
According to the opinion of Engstrom (2021), talent management is the full scope of human
resources process to attract, onboard, develop, engage and retain high performing employees at
workplace. In the modern and competitive business era, organisations are widely concern over
attaining higher growth and success and for this business and its management are widely concern
over attracting and retain talent at workplace via implementing suitable talent management
strategies like promoting employees, providing, training and development session, high growth
opportunity, performance appraisal, rewards and incentives and so on, that are widely
implementing by the business to attaining higher growth and success.
According to the view of Blesch (2013), the Ctarbucks corporation is effectively utilizes the
human resources practices and policies as the tool to attain competitive edge and drive success of
the business. Talent management is a crucial aspect and for managing talent business facing
assorted issues and challenged like High Job opportunity, Unrealistic expectation of employees,
High employee Turnover, less development opportunities, Lack of leadership, decreasing
business performance, less customer satisfaction and so on, that are widely being faces by the
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business in attracting and retaining talent at workplace. therefore, business needs to resolve the
issues in effective manner to attain higher growth and development.
Project management plan
Project management plan is referred as a formal document that involves execution and
control phases of project. It is an approved document which defines the way project is
implemented, monitored and controlled (Silvius, Kampinga, Paniagua, and Mooi, 2017). A
detailed plan is developed by project manager so that better planning can be ensuring. It involves
different elements which are provided below in context of this project.
1. Cost - it is referred as the cost of searching for new methods and new application of
materials. A specific cost is associated with every project that contributes to successful
completion of project. The estimated cost associated with this specific project is around
200 pounds.
2. Time - it is very important aspect which depicts about the time needed to complete the
project successfully. In relation to this research project, the estimated time is four months
which is the decided by the project manager so as to ensure its timely initiation and
completion (Badewi, 2016).
3. Quality - it is very important to emphasize on quality of a project so that it can be
completed in authenticated and reliable manner. For maintaining the quality of project,
data is collected by using adequate methods and tools and all the information taken in the
study is authenticated so as to ensure the project quality.
4. Scope - it is the aspect that depicts about future value of project. The scope of this
particular business project is wider (Mupepi, 2017). This project is helpful in gaining
understanding about the different talent management strategies that help business to
attract and retain talent in the business for long run.
5. Communication - for conveying all the information related to business project in an
appropriate way, effective communication tools play a significant role. It also highly
contributes in ensuring project success (Ford, 2017). In this project, the manager uses
mobile phones, emails, file sharing tools, video conferencing tools like Skype, zoom etc.
are used so that information is communicated to all the members in effective way.
6. Risk - there is certain kind of risk related to each project which can bring deviations in its
results. Proper identification of those risks are very necessary. Two key risks associated
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with this business project are lack of time and resources. If the resources are not available
in adequate amount and time for completing the project is not sufficient, then these may
hamper project performance (Kerzner, 2019).
7. Resources - all types of resources are required for successful completion of project. This
project requires use of appropriate communication tools, some physical resources like
paper, notebook, pen, laptop; adequate amount of funds and skilled human resource to
perform all the activities of project successfully.
Work breakdown structure and Gantt chart
Work breakdown structure – It can be stated as a deliverable oriented decomposition
activities executed to attain project objectives. By using work breakdown structure, manager
breakdown project activities into smaller tasks so as to ensure effective management of project
(Tafti, Mahmoudsalehi, and Amiri, 2017).
Gantt chart - This is a kind of chart that depicts about the work done in a particular time
period. It is a pictorial representation that illustrates about project schedule and provides a view
to project manager about the activities schedule over time (van Zyl, Mathafena, and Ras, 2017).
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