Managing a Successful Business Project Analysis
Added on 2020-10-05
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MANAGING A SUCCESSFUL BUSINESS PROJECTSTUDENT NAME-STUDENT CODE-1
Table of ContentsPART 1: Project Management Plan.................................................................................................3Definition of the project...................................................................................................................3Problem statement...........................................................................................................................3Project strategy................................................................................................................................3Project Objectives............................................................................................................................4Deliverables.....................................................................................................................................4Project Scope Statement..................................................................................................................5c. Success Criteria..........................................................................................................................6d. Project Assumptions....................................................................................................................62. Implementation Plan.............................................................................................................7Work Breakdown Structure...........................................................................................................7Schedule (Gantt chart).................................................................................................................103. Project Processes................................................................................................................10Communication Plan...................................................................................................................10Part 2: Project Log Book...............................................................................................................11Method for the short research study..............................................................................................163. PERFORMANCE REVIEW.....................................................................................................17Analysis.........................................................................................................................................17Recommendations..........................................................................................................................20Reflection.......................................................................................................................................21Reference list.................................................................................................................................23Appendices:...................................................................................................................................262
PART 1: Project Management PlanDefinition of the projectIn modern era, development of technology has impacted in the business processes greatly.Improvement in the digital technology has impacted in the business activity greatly. The large,small and medium business organizations are incorporating digital technology in theiroperations. The administration, communication, production and storage systems has changed alot due to the contribution of digital technology.Problem statementThe development of digital technology has provided the business owners an opportunity todecrease the operational cost and increase their ability to improve the communication andstorage systems. This has enabled them to sell the existing products in a more profitable way. Asstated by Bititci (2016), digital technology has also helped the organizations to develop moreinnovative products in order to increase the customer satisfaction and gain competitiveadvantage. Digital technology also helps an organization in outsourcing and impacts in thebusiness by inducing effective collaboration. Digital technology is helping the organizations byimproving the communication facilities. Websites, internet and social media has improved theirability to communicate with the customers and stakeholders more effectively. On the other hand,introduction of cloud storage has decreased the operational costs of the management byeliminating the use of hardware system. Storage of valuable data, which includes customers’information, stakeholders’ information has become easy nowadays due to the development ofdigital technology and specifically cloud technology. In order to achieve business objectives,organizations require choosing appropriate tools of digital technology for their business. In doingso they could face problems. However, these problems could be mitigated by improvisingvarious technologies. Project strategy The strategy of the project will be framed on the basis of aims and objectives of this project.Assessment of various tools of digital technology is essential in order to select the appropriatetool for the business. As opined by Harrison and Lock (2017), in order to enhance theperformance of the business potential, it is necessary to choose potential digital technology. In3
this project, main focus needs to be given in the reduction of the operational cost. Different retailcompanies of UK need to develop proper strategies in order to implement digital technology intheir business operations. Project Objectives The aim of this project management plan tends to focus on the effect of digital technology inorganizational activities. Objectives of this project are related with the development of thebusiness organizations like sage group by enhancing their performance. Meeting the objectiveswill help the management of the organizations to expand their business by increasing theproductivity and performance. ●To improve the communication system of the organization●To decrease the operational cost of the firm●To increase the productivity●To implement digital technology and enlarge customer base of the firm ●To expand the business in new markets in future.DeliverablesThe outcomes of this project will show progress of the business. As stated by Drucker (2017),incorporation of digital technology in business operations will facilitate the firms by increasingthe performance. In countries like UK, where competition has raised to a new level,implementation of digital technology in business has become inevitable. Implementation ofeffective digital technology in business processes will help the management to achieve theirbusiness objectives. This project will facilitate the management of the firm to analyze andevaluate the effectiveness of digital technology in their business. This project will help them tounderstand the advantages of the digital technology. Outcome of this project will help themanagement to manage the tangible and intangible aspects and achieve their business goals. Asopined by Webb (2017), it is essential for a company to reduce their operational costs in order toexpand their business. Reduction in operational cost will help the management of theorganization to save their capital and invest it for right purpose. Business could be expanded byincreasing the customer base. Providing good customer experience will increase the customersatisfaction and in turn the company will be able to achieve competitive advantage. 4
By incorporating digital technology, communication between the team members could also beincreased. This will help to promote the teamwork. As mentioned by Goetsch and Davis (2014),good teamwork helps to ensure collaboration between the employees and will decrease the errorin operations. On the other hand, improvement in the technology will enable the firm to developa good service quality, which will help them to achieve customer satisfaction. In addition, retailcompanies like TESCO could also improve their product quality by innovating new designs.Implementation of proper tools of digital technology will also help the firm to achieve financialbenefits. Project Scope StatementThis project will help to create future scopes of the organizations to increase their businessactivities and will also help to achieve the business goals. In this project, some important scopeshas been discussed, whereas some scopes are excluded which are not important. As stated byHeizer (2016), if proper tools of digital technology are implemented successfully, then this willhelp the firm by influencing the business activities. a. Included ScopeIn this project, the scope of business exploration has been included. It is also mentioned here thatdigital technology has impacted positively in the business activities. As opined by Wheelen et al.(2017), successful incorporation of digital technology tools will help the management to expandtheir business in new markets and increase the customer base. This project included the scope ofreducing operational cost of the companies by adopting various effective tools of digitaltechnologies. Excessive operational costs reduce the chances of a company to expand in newmarkets. In order to grow, it is essential for a firm to expand and gain new customers; traditionalway of management creates a barrier in this process. Adaptation of digital technology will helpthe firm to grow effectively by reducing the operational cost. In addition, scope of improvementof communications has also been included in this project. b. Excluded ScopeIn this project, the management of the stakeholders has not been discussed. Digital technologywill not be able to manage the external shareholders of a firm effectively. Shareholders could bemaintained by proper collaboration of the management. As stated by Serra and Kunc (2015),proper management strategy could only help an organization to manage the shareholderseffectively. In addition, digital technology will not be able to motivate the employees. In order to5
motivate the employees of a firm, the management needs to adopt proper recognition and rewardstrategy. This will help the management to focus on their performance and give feedback toincrease their skills. Proper training sessions could only help the firm to motivate theiremployees. Hence, this factor is also excluded from this project. c. Success CriteriaThis project will be considered successful if and effective if the organizations could be ablegenerate financial benefit and expand their business to new markets. In this project, severalbusiness scopes have been discussed and effectiveness of this project could be analyzed andevaluated on the basis of future aspects of the mentioned scopes. These main objectives of thisproject will be fulfilled if the organizations adopt digital technology. The success rate of thisproject could be measured by measuring the impact of digital technology in their businessoperations. As stated by Van Der Aalst et al. (2016), proper implementation of digitaltechnology in different aspects of business will help a firm gain economic benefit. Increase in theeconomic status of a firm will help to understand the success of this project in order to gainfinancial benefit. Workforce will also be shaped by implementing digital technology. Themanagement could focus on recruitment and measuring performance effectively with the help ofdigital technology. Changes will occur in operations after implementing digital technology. Themanagement needs to monitor the effects of the digital technology and take appropriate measuresaccording to that. The project need to be completed with the given time schedule and budget. d. Project AssumptionsThe assumptions of the expected outcomes are:●The recruitment policy will be improved. As stated by Heagney (2016), digitaltechnologies will help an organization to use effectively internet, while recruiting newemployees. This technology will help the firm to create a pool of candidates and selectthe desired ones. ●Different companies will be able to expand their business in both national andinternational market by incorporating digital technology in their process. The companywill be able to achieve more financial benefit by reducing the operation cost. ●The product and services of the firm will also be developed by implementing digitaltechnology. As opined by Maylor et al. (2016), digital technology helps an organization6
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