Managing a Successful Business Project.

Managing a Successful
Business Project
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TASK 1............................................................................................................................................4
A brief explanation of your proposed research topic and why you have chosen it....................4
An aim and some objectives for your proposed research...........................................................4
....................................................................................................................................................4
A brief discussion of the scope and limitations of your proposed research................................4
....................................................................................................................................................4
Resources and cost considerations relating to your proposed research......................................4
A project plan, Gantt chart or work breakdown structure in order to provide timeframes.........4
A risk register covering the five main risks with the proposed research....................................4
Ethical issues approval form.......................................................................................................4
CHAPTER 1....................................................................................................................................4
INTRODUCTION...........................................................................................................................4
P1 Aim and objectives................................................................................................................5
CHAPTER 2....................................................................................................................................5
Literature Review ...........................................................................................................................5
Notion of talent management .....................................................................................................5
Challenges of Talent management which is facing by TESCO .................................................6
Numerous strategies that TESCO can adopt to overcome the challenge of staff retention .......7
P2 Project Management Plan .....................................................................................................8
P3 WBS and Gantt chart ..........................................................................................................9
CHAPTER 3 .................................................................................................................................11
P4 Carry out small-scale research applying primary and secondary methods appropriate for
meeting project aims and objectives.........................................................................................11
CHAPTER 4 .................................................................................................................................13
P5 Data Interpretation ..............................................................................................................13
CHAPTER 5..................................................................................................................................17
P6 Recommendations................................................................................................................17
CHAPTER 6..................................................................................................................................19
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P7 Reflection ............................................................................................................................19
CONCLUSION..............................................................................................................................21
REFERENCES .............................................................................................................................22
TASK 1
A brief explanation of your proposed research topic and why you have chosen it
Talent-management is defined as the practice used by organisation to retain skilled and
talented employees which help in achieving desired goals and objectives effectively and
efficiently. Talent-management help in managing employee in organisation and focus on
promoting environment in which employees are motivated to develop their skills and knowledge
which help in maximizing productivity and profitability of organisation. In this report chosen
organisation is Tesco. It is one of supermarket chain in UK which provide grocery products to
consumer and focuses on delivering quality products to its consumer. In this report, focus is on
achieving aims and objectives for the case scenario of Tesco. This report focuses on identifying
challenges in talent-management faced by organisation. Identifying risk and challenges help
Tesco in managing their talented employees and it will help Tesco in achieving their goals and
objectives. Talent-management help in promoting environment of high performance and help in
attracting talented employees.
An aim and some objectives for your proposed research.
Aim of the project
To identify the challenge of staff retention facing by an organisation. A case study of TESCO.
Objectives
 To determine the notion of talent management.
 To identify the challenges of Talent management which is facing by TESCO?
 To determine the concept of staff retention?
 To recognize numerous strategies that TESCO can adopt to overcome the challenge of
staff retention.
A brief discussion of the scope and limitations of your proposed research.
This part of report focuses on management of report on how it is executed, monitored and
controlled. Project management is defined as a plan which includes cost, scope, time, quality and
communication which are mentioned below:
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Scope
It is defined as the opportunity which can be utilised by the organisation in future and which can
help in maximizing productivity and profitability of organisation. Tesco is focusing on managing
their employees which can help organisation in achieving its goals and objectives. Talent
management help organisation in retaining their employees which are skilful and can contribute
in the growth of Tesco. Talent-management help Tesco in attracting skilful employees and help
in retaining talented employees by providing appropriate compensation to their employees.
Talent-management can be possible by providing appropriate training and development to their
employees which can help in development of skills and knowledge of employees. Tesco focuses
on development of their employees so that they can contribute in growth of organisation in long-
term.
Limitation of project
This part focuses on various problems faced by Tesco in managing their talented
employees. Problems faced by managers of organisation is to manage their employees and
identifying skilled employees in organisation. In context of research, limited access to data,
people and organisation can be proved as a limitation. In order get reliable information
researcher have to focus on doing effective research which can help research in getting
appropriate results.
Resources and cost considerations relating to your proposed research.
Resources
When the project is under taken, it becomes the responsibility of the manager at Tesco to
properly allocate resources to complete each and every activity associated with the project. There
are various resources such as human resource, tools and technology which is required to function
properly at a global level.
Cost
It is essential for the project manager to properly analyse and investigate the cost in a proper
manner. For this, project manager at Tesco needs to evaluate the cost of different activities
before expanding its business operations globally.
A project plan, Gantt chart or work breakdown structure in order to provide timeframes
Work Breakdown Structure
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It is an overall framework in which overall activities of the project are divided and sub divided
into small parts which could be easily managed and completed on time.
Gantt Chart
These charts are mainly used for tracking the projects schedule and help in planning project
effectively and efficiently.
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A risk register covering the five main risks with the proposed research
S.
No.
Risk
Description
Likelih
ood
Impact Mitigation Contingen
cy
Pre
action
weightin
g score
out of 10
Post
action
weightin
g Score
out of 10
1 Over cost risk High high Maintain
document
detailing about
the costs and
resources
invested in
research work.
Arrange
alternate
resources
which are
cheaper
Arrange
and
manage
resources
which are
reasonable.
7 5
2 Technological
risk
high high Upgrading the
software and
online
applications.
Adoption
of new
technologie
s on
continuous
basis.
7 6
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