Managing a Successful Business Project Scope and limitation
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Added on 2021-01-02
Managing a Successful Business Project Scope and limitation
Added on 2021-01-02
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Managing a SuccessfulBusiness Project
TABLE OF CONTENTSTASK 1 ...........................................................................................................................................31. Introduction to the proposed topic and rationale for selecting the same ...............................32. Aims and Objectives of research ...........................................................................................33. Scope and limitation of the project.........................................................................................34. Resource and costs considerations.........................................................................................45. Gantt chart and work breakdown structure ...........................................................................56. Risk register ...........................................................................................................................7TASK 2 ...........................................................................................................................................9Chapter 1: Introduction...............................................................................................................9Background of the study.............................................................................................................9Importance of the study ............................................................................................................10Chapter 2 : Literature review....................................................................................................10Chapter 3: Methodology ..........................................................................................................14Chapter 4: Results ....................................................................................................................18Chapter 5: Conclusion and recommendations ..........................................................................27Chapter 6: Reflections ..............................................................................................................28REFERENCES..............................................................................................................................29
TASK 1 Background of the topic Globalization has bought big changes in the business environment. It has bought variousopportunities as well as challenges for companies. Globalization is considered to be as majordriver of change and it also encourages firm to expand business at intentional level. It hasprovided enterprises an opportunity to cross border trade. Few companies in retail sector hasentered into Joint venture agreement with global firms in order to provide an appropriateresponse to globalization. Joint venture is basically a management in which two or more firmsshows their agreement to share their resources for accomplishing desired objectives. By enteringinto Joint venture business companies can get various benefit but at the same time they arerequired to consider the risk associated with formation of Joint venture with internationalcompanies. The main purpose of formation of Joint venture by firms is to get an ease inexpansion of business.The research report will have focus on identifying the benefits as well as risk associatedwith Joint venture business. It will include detail about the different methodology adopted byresearcher for conducting the various activities during investigation. Overview of organizationTesco is a British Multinational company operating business in retail industry. Anorganization has retail outlets in more than 6800 countries worldwide. Business entity is amongthe third largest retailer in terms of gross revenue. The products or services offered by Tescio arebooks, toys, clothes . Electronic item, furniture, financial services etc. During the year 2015,Tesco has a market capitalization of £ 18.1 billion. Tesco target people belonging to the moddleincome group people.Rationale for selecting the topic The reason for selecting the topic is that scholar wants to increase the knowledge aboutthe international joint venture business. The Tesco is a small business enterprise which has beenchosen for present study. Specific organization has been chosen as an enterprise is planning toexpand business ta international level Other rationale for selecting the specific topic is to assistorganization in taking important business decisions related to selection of the best strategy for
entering into international market. This present investigation will assist an organization inmaking the suitable decision whether to expand business at international market by applying theJoint venture strategy or not.Importance of the research The present investigation has great importance as for Tesco, as result drawn from theinvestigation will assist management in making the suitable decisions about whether they shouldenter into The Joint venture with global companies or not. In addition to this, the outcome ofinvestigation will assist management in making sure that whether decision taken by themrelating to the forming international Joint venture with global company is suitable or not.The study has great importance of scholar as it will help them in developing the understandingabout joint venture business. In addition to this, by performing research on particular topicresearcher will able top gain knowledge about the risks as well as benefit associated withInternational joint venture business.2. Aims and Objectives of research Aim: To identify the risk and benefits of Joint business venture strategy used by organization forexpanding business in Romania. : A case study of TescoObjectivesTo develop the understanding about the International Joint Venture. To explore as well as measure the risk associated with International Joint businessventure. To identify the benefit of forming strategic Global business alliances by Tesco forexpanding business in Romania. . To suggest the ways through which maximum advantages can be gained by Tesco incontext of Global joint venture with international firm in Romania.3. Scope and limitation of the project Scope is the most important component of project plan. It mainly includes detail aboutproject goals, investigator responsibilities, key deliverable etc. The research project have widescope. As by executing the investigation on particular topic research can easily identify the risksand benefits associated with International Joint venture. Research report will assist companies in
getting an appropriate solution for the problem faced by them in entering into global market. Asper the view of other people, the scope of the present research is very wide, the furtherinvestigation can be conducted for identifying appropriate solution for dealing with thechallenges or issues associated with establishing joint venture business. Limitation is the parameter which restricts the scope of the study. Due to limitedresources and Time researcher might have to face difficulty in conducting the in depthinvestigation on particular topic. According to other participant in investigation, strict budget cancreate barriers in execution of investigation procedure. 4. Resource and costs considerationsResources: The different types of resources required for conducting the investigation andimplementing specific project include manpower, information about the companies as well asmarket, technology, finance etc. In context of present investigation, proper technique will beutilised by scholar for allocating the resources. Researcher will allocate resource considering thenature of tasks (Glesne, 2015.). In addition to this, Proper resource plan will be prepared byscholar with the support of computer software such Enterprise resource planning and othersimilar software .Costs: There are basically two types of costs associated with performing the investigationon specific topic these are fixed and variable. Costs also include travelling expenses,communication cost etc. In context of research, the major cost occurred in collection of data(Bell, Bryman and Harley, 2018). . In context of project, expenses are associated purchase oftechnology, salary of employees, communication costs etc. In present study researcher willutilise budgeting technique in order to control the flow of cash. Scholar in present study willconduct the specific procedure calculating the costs of project which includes breaking down ofeach requirement into set of task. At the initial stage researcher will address the member whowill perform specific task and consider the time duration of the activity. At the second stage,researcher will Calculate the cost of completing these tasks. After the completion of the secondphase, investigator will compute the cost of each individual task to arrive at the cost of teamresources.unit/ hrsCosts/ unit/ hrsWBS Level 1 total Project
management Project managergroup members 9401830150$74$$ 9710$133000Hardware Handheld devicesServers1503750$$4400660 00 $$16000Installation anddevelopment of Licensed software150$250$20500software andhardware Testing$700005. Gantt chart and work breakdown structure ActivitiesWeek 1Week 2Week 3Week 4Week 5Week 6Week 7Week 8Choice oftopic forresearchestablishing aimandobjectivesWritingLiteraturereviewCollection ofinformation Dataanalysis
DrawingconclusionEdition asperfeedbackreceivedFinalsubmission
6. Risk register In context of risk associated with international joint venture are : Type of risk Probability Impact StrategyGeo political Medium High It is required by anenterprise to follow allthe rules and regulationformed by government.Management in Tesco
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