Managing a Successful Business Project: A Case Study of Cook Trading Company

This report examines the importance of digitalization for the success of Cook Trading Company, a frozen ready meal manufacturer and retailer. It explores the challenges of digital disruption and transformation, analyzes the company's current digital strategy, and provides recommendations for improvement. The report utilizes qualitative and quantitative research methods to gather data and insights, and employs project management tools and techniques to develop a comprehensive plan for digital transformation. The findings highlight the need for Cook Trading Company to embrace digital technology, enhance its customer reach, and adapt its business model to thrive in the evolving digital landscape.

Managing a Successful Business Project
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Contents
Introduction......................................................................................................................................3
LO1..................................................................................................................................................4
P1: Devise project aims and objectives for a chosen scenario....................................................4
P2: Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..............................................................................................5
P3: Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................7
M1: Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project......................10
LO2................................................................................................................................................13
P4: Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives.................................................................13
M2: Evaluate the accuracy and reliability of different research methods applied.....................15
D1: Critically evaluate the project management process and appropriate research
methodologies applied...............................................................................................................16
LO3................................................................................................................................................17
P5: Analyse research and data using appropriate tools and techniques.....................................17
P6: Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................23
M3: Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to
support and justify recommendations........................................................................................24
LO4................................................................................................................................................25
P7: Reflect on the value of undertaking the research to meet stated objectives and own
learning and performance..........................................................................................................25
M4: Evaluate the value of the project management process to meet the stated objectives and
support own learning and performance.....................................................................................26
D2: Critically evaluate and reflect on the project outcomes, the decision making process and
changes or developments of the initial project management plan to support justification of
recommendations and learning during the project.....................................................................27
Conclusion.....................................................................................................................................28
References......................................................................................................................................29
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Introduction
Digital technology has changed and modified the way people carry out their business operations
and activities. Traditional business models have changed with the implementation of the digital
technology in the business. Digitalisation is important for various purposes and is used in
business for various reasons such as storing data, connecting with the public, making important
decisions, developing new and innovative products etc. In this report, the study of the digital
technology will be based on the Cook Trading Company which is the manufacturer as well as
retailer and deals in frozen ready meals. The company for gaining success in the market and
increasing its sales volume needs to implement the digital technology for communicating with
the public and customers. For this, the management needs to prepare a project consisting of the
project plan, various tools as well as techniques to handle the project, research methods to collect
relevant information and data etc for getting effective results.
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LO1
P1: Devise project aims and objectives for a chosen scenario
Aims & objectives are the main aspects of the project as it provides direction and path to the
project manager to handle and manage the project in an appropriate manner. Aims and objectives
define the motive of the organisation and enable them to perform strategically.
Aims: Project study aims at analyzing the importance of digitalization for the development of the
organisation. It also aims at analyzing the ways and methods in which the businesses in today’s
era have experienced and recovered from the digital disruption and digital transformation.
Objectives: Project objective is to consider all the areas of the business and design effective
strategies for future. The objectives enable the project manager to effectively lead the activities
and operations of the project. The objectives of the project are as follows:
 To analyze the major challenges which are faced by the companies due to the digital
disruption and transformation and also to evaluate the methods which are adopted by the
businesses to overcome such challenges.
 To analyze the positive as well as negative aspects of the digital technology on the
overall business performance.
 To determine the techniques and tools used by the organisations for managing the change
prevailing in the rapidly changing business environment (Kahneman & Tversky, 2013).
 To make use of different methods and techniques to handle the project effectively for
getting effective results.
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P2: Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk, and resources.
Particulars Description
Cost Cost includes the expense which is borne by the company to carry out the
project which is based on analyzing the challenges of the digital disruption
and transformation on the business. The amount which is required by the
company to accomplish the project is £ 20,000.
Scope The scope of the project is wide as it enables the company to understand the
way in which the business can be carried out with the help of the digital
technology. Digitalisation has enhanced the way of conducting the business.
This project will help in understanding the challenges of digital
transformation and disruption that is taking place in the business environment
(Mir & Pinnington, 2014).
Time For understanding the entire business environment and completing each
activity of the project the time period required is about 1 month.
Quality For maintaining the quality of the project, appropriate and effective research
methods are used by the company for getting relevant information and
carrying out the project on the basis of collected information. Quality
material is collected through the appropriate research methods and quality of
the project is maintained for drawing positive outcomes.
Communication A communication plan is required for ensuring the flow of information to the
stakeholders. With this information regarding the challenges of the digital
transformation and disruption can be made available to the stakeholders and
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important can be taken for the project.
Risk Insufficient time and resources are the major risks which are associated with
the project. Collection of the right kind of information for the project also
includes certain risk factors (Neta, et. al., 2015).
Resources Sufficient time, financial resources, effective techniques and tools, human
resources etc are the resource requirement for the project accomplishment.
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P3: Produce a work breakdown structure and a Gantt chart to provide timeframes and
stages for completion
WBS: It refers to the method in which the larger workloads of the project are divided into
smaller ones so that each activity can be effectively completed within the set timeframes.
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Action Plan
Activities Start time End time Duration
Planning 1 June 2018 2 June 2018 2 Days
Identification of
activities
3 June 2018 6 June 2018 4 Days
Appropriate allocation
of resources
7 June 2018 10 June 2018 4 Days
Estimating the
expenses and cost
11 June 2018 13 June 2018 3 Days
Conducting research 14 June 2018 19 June 2018 6 Days
Implementation 20 June 2018 24 June 2018 5 Days
Evaluating the results 25 June 2018 27 June 2018 3 Days
Taking control actions 28 June 2018 30 June 2018 3 Days
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Gantt Chart
9

M1: Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project.
Activities Start time Description
Planning 1 June 2018 Appropriate plans are developed for the
project after clearly stating the objectives
and scope of the project.
Identification of
activities
3 June 2018 All the activities and tasks of the project are
identified after appropriate planning are
done for the project.
Appropriate allocation
of resources
7 June 2018 All the activities and tasks of the project are
allocated with the required time and
resources so as to be performed effectively
(Yang, et. al., 2012).
Estimating the
expenses and cost
11 June 2018 The expenses and costs associated with each
activity and operation of the project are
identified so as to set the budget
accordingly.
Conducting research 14 June 2018 Research is conducted in the market through
different research methods so as to gather
relevant and required information to carry
out the project.
Implementation 20 June 2018 The project is implemented which explains
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the importance of digitalization for the rapid
growth of the business at all levels. The
challenges will be identified and appropriate
measures will be taken to overcome them.
Evaluating the results 25 June 2018 The results are evaluated in the form of
comparing the results before and after the
execution of digitalization in the business.
The effectiveness can be derived with the
help of comparison method (Hylving, et. al.,
2014).
Taking control actions 28 June 2018 Any deviation and error in the project can
be controlled with certain actions and are
important for making the project a success.
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LO2
P4: Carry out small-scale research by applying qualitative and quantitative research
methods appropriate for meeting project aims and objectives.
The research has been conducted to collect the required information and data through qualitative
and quantitative methods. Some of the information has been collected from secondary sources
and surveys are prepared to collect the responses of the people regarding the operations and
various other aspects of Cook Trading Company. The prepared questionnaire contains the
following questions:
Q1: Are you aware of the different food products of Cook trading Company?
 Yes
 No
Q2: Is digitalization necessary for Cook Trading Company?
 Yes
 No
Q3: Is the company effective in its strategies related to managing digitalization?
 Yes
 No
Q4: Does the company have the ability to face the digital transformation challenges?
 Yes
 No
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Q5: Does the company require increasing its customers’ reach?
 Yes
 No
Q6: Does the company require changing the existing technology?
 Yes
 No
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M2: Evaluate the accuracy and reliability of different research methods applied.
The research methods used in the project to collect the required data and information are the
qualitative and quantitative methods. The decision to apply the selected research methods is
relevant. The selected research methods are reliable and accurate in the following ways:
Quantitative method Qualitative method
The research under this method is conducted
through primary sources. Questionnaires,
surveys, interviews, observation method etc are
used under this method which is considered as
the fresh material collection sources as the data
is collected for the first time through such
sources (Killen, et. al., 2014). The information
is not collected or published before and is
being analyzed for the first time as a result of
which the collected data is considered to be
accurate and reliable.
The research under this method is conducted
through secondary sources. Internet, articles,
magazines, journals, books etc are used under
this method. The information is gathered from
second-hand sources and is considered as
accurate and reliable as it is already researched,
analyzed and published by the authors.
Readymade information and data are available
to the users through this method (Arghode,
2012).
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D1: Critically evaluate the project management process and appropriate research
methodologies applied.
The procedure of managing the project includes a systematic order of performing all the
activities and operations associated with the project. All the tasks are lined up systematically to
be performed. This procedure helps in clearly defining the roles, control and manages the
change, attain the set objectives within the specified time as well as budget. Plan, organize,
implement, control, and monitor are the main aspects and elements of the project management
procedure which enables the management to effectively handle all the activities of the research
project. This project enables the Cook trading Company to effectively grow in the market with
the help of the digital technology and also by overcoming the challenges arising due to the digital
technology (Parviainen, et. al., 2017).
Research methods enable the Cook trading Company to gather the right kind of information and
data from the market for the proper completion of the project. With the help of the research
methods, various aspects and elements prevailing in the market are analyzed and effective
decisions are taken for the development of the business. Quantitative and qualitative are the
research methods which are used in the completion of the project. Reliability and accuracy can
be expected from the selected method of research and it helps the company to understand the
digital transformation and disruption (Terras, 2012).
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LO3
P5: Analyse research and data using appropriate tools and techniques
Analysing the data which has been researched includes evaluating the responses collected from
the public. The data is analyzed as follows:
Q1: Are you aware of the different food products of Cook trading Company?
Options Responses
Yes 31
No 19
Yes
62%
No
38%
Responses
Analysis: From the graph, it is depicted that only 31 out of 50 respondents are aware of the
different types of food products offered by the Cook trading Company, and the rest 19 are not
aware of it. The reason behind this can be due to the small size of the company and less
marketing and promotions.
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Q2: Is digitalization necessary for Cook Trading Company?
Options Responses
Yes 43
No 7
Yes
86%
No
14%
Responses
Analysis: From the graph, it is depicted that digitalization is very important for the growth of the
business of Cook Trading Company. 43 out of 50 respondents suggest that digitalization is quite
important for the Cook trading Company to develop on a rapid scale. It will help the business to
enhance the different activities and will also help in reaching out a large number of customers
and gain competitive advantage.
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Q3: Is the company effective in its strategies related to managing digitalization?
Options Responses
Yes 24
No 26
Yes No
24
26
Responses
Responses
Analysis: From the graph, it is analyzed that 24 out of 50 respondents have the view that the
strategies and policies of Cook trading company are not effective enough to implement and
manage the digitalization in the business. Strategies are required t be formulated for making the
implementation plan an effective one.
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Q4: Does the company have the ability to face the digital transformation challenges?
Options Responses
Yes 27
No 23
Yes
54%
No
46%
Responses
Analysis: From the graph, it is analyzed that 27 out of 50 respondents have the view that the
Cook trading Company lacks the ability to face the challenges which arise due to digital
transformation and disruption. This can be due to the small level operating of the business.
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Q5: Does the company require increasing its customers’ reach?
Options Responses
Yes 42
No 8
Yes
84%
No
16%
Responses
Analysis: From the graph, it is analyzed that 42 out of 50 respondents have the view that Cook
trading Company is a small company and it highly requires increasing its reach among the
customers. This will help the business to grow continuously and earn more profits. This is
possible through the implementation of digital technology in the business.
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Q6: Does the company require changing the existing technology?
Options Responses
Yes 44
No 6
Yes
88%
No
12%
Responses
Analysis: From the graph, it is analyzed that 44 out of 50 respondents have the view that the
company needs changing its technology which it is using currently. The present technology is
not much effective for the development of the business and this company needs the latest
technology.
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P6: Communicate appropriate recommendations as a result of research and data analysis
to draw valid and meaningful conclusions.
Research methods have enabled the project handler to gain deep knowledge about the different
elements of the business. The available information from the business environment has helped
the company to enhance the business activities and operations with the use of different ways and
methods. Information about the technological transformation is gained so that appropriate
decision can be taken regarding the execution of required digital technology which would
enhance the productivity of the business (Yoo, et. al., 2014). The recommendations are as
follows:
 Cook trading Company needs to expand its business with the help of the digital
technology and increase its customer base in the market.
 The company needs to increase its communication level with the customers so that it
becomes easier for them to know the preferences of the customers. This will enable them
to develop products accordingly and increase the share in the market.
 Various internet sources should be used by the company to promote its products as well
as services.
 For gaining a competitive position in the market, the company needs to adopt and execute
technological transformation.
 The company is required to update its strategies and plans for the continuous
development of the business.
 Appropriate training is required to be given to the employees for proper use of digital
technology for the business (Laudien and Daxböck, 2016).
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M3: Evaluate the selection of appropriate tools and techniques for accuracy and
authenticity to support and justify recommendations.
Research methodologies, project plan, action plan, Gantt chart etc are some of the techniques and
tools which are used to carry out the project for Cook trading Company. Quantitative and
qualitative are the research methods which are used by the Cook trading Company for gathering
appropriate data and information from the market. The quantitative techniques include the
primary sources which provide first-hand data. The qualitative method includes secondary
sources that are reliable as they are already researched and published by the specialized authors
(Eidhoff and Poelzl, 2014). Project plan enables the project handler to consider all the relevant
areas and elements of the project and make appropriate decisions for further continuation. The
action plan, as well as Gantt chart, enables the company to effectively accomplish all the
activities within the set time limit with the allocated resources in a systematic order. In addition
to these techniques, suggestions, and recommendations are made available to make the business
more profitable with the effective execution of digital technology. With the systematic manner of
managing the project, the associated challenges and issue are identified and measures are taken
to overcome them for getting better results.
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LO4
P7: Reflect on the value of undertaking the research to meet stated objectives and own
learning and performance.
The project preparation aims at analyzing the influence of the digital disruption and
transformation on the entire business. For meeting the objectives of the project, the project
manager has to conduct a research in the market so as to collect the necessary details and
information about the entire market conditions and the business environment in which the
company is operating its business. Research is important for the entire business and has a core
value for the project as it enables the company the effective collection of the primary and the
secondary data which proves beneficial for the business by taking timely appropriate decisions.
Various business activities and operations are enhanced with the help of the information which is
available to the company with the appropriate research methods (Gebauer, et. al., 2012). The
main aim and objective of the business are to earn revenues and profits, as a result of which the
company needs to, research the methods which will enhance the business performance with the
proper implementation of the digital technology.
Conducting market research guides the researcher towards gaining a deep understanding of the
different aspects and elements of the business as well as digitalization. Appropriate methods are
analyzed by the project handler to improve business activities which is possible through the
information gathered through effective research methods. This helps the project handler to meet
the set project aims and objectives and enhance its own performance and learning towards the
project and the entire business (Verrest, 2013).
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M4: Evaluate the value of the project management process to meet the stated objectives
and support own learning and performance.
The procedure followed for managing the project is quite long as it consists of various stages and
steps for the appropriate completion of the project activities. The entire management process
includes various activities and operations and each activity is assigned with the required time and
resources. The project management process is important for Cook trading Company, as it enables
the company to carry out each activity of the project in a systematic manner. With the help of the
process, the company is able to deeply understand the importance and value of digital
transformation for the enhancement of the business. With the effective execution of the digital
technology in the business, the company is able to communicate and extend their reach to the
customers. This helps the company to gain the reviews of the customers regarding their products
and make modifications accordingly. The productivity of the company is enhanced with the
proper following of the project management procedure and objectives are achieved. The
procedure helps the individual in learning ways to handle and manage the entire project.
Performance of the business enhances and the own learning is improved with the help of this
procedure (Loebbecke and Picot, 2015).
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D2: Critically evaluate and reflect on the project outcomes, the decision-making process
and changes or developments in the initial project management plan to support
justification of recommendations and learning during the project.
The major project outcome is that digital transformation and disruption has an immense
influence on the working of the business and its various activities. Digital technology enhances
the functioning and operating of the business as it enables the company to connect with people
and enhance the communication level with the public. The business productivity is enhanced
with the proper execution of the digitalisation. The procedure of company’s decision making is
affected by the information quality available with the company through the different research
methods (Bourreau, et. al., 2012).
The procedure followed by the company for making effective decisions should be appropriate so
as to enhance the business performance and productivity level of the company. The plan for
managing the project includes various activities which enable the company to meet the
objectives and aims. The plan enables the company to perform the activities within the set
criteria. This helps the researcher to get a detailed knowledge about the handling of the project.
Many new aspects were learned during the process of completion of the project and the ways to
handle the project were also experienced (Massini & Miozzo, 2012).
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Conclusion
It has been concluded that project can be carried out in an effective manner with the help of clear
aims and objectives. An appropriate plan is important to be structured for getting a clear
understanding of the various aspects of the project and the business. Digital technology and
transformation are important for Cook trading Company for reaching out a large number of
customers and expanding its business. In order to gain success in the market, the company needs
to carry out research to gather important and required information. For the proper completion of
the project, it is important for the company to use appropriate tools and techniques such as
project plan, action plan, Gantt chart, research methods etc for getting the desired results. For
obtaining the desired results, the company needs to complete all the activities of the project in
the specified and set time frames. Management procedure enables the company to systematically
carry out the project for getting desired outcomes.
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