Sample Managing a Successful Business Project - Assignment
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1/1/2019BTEC HND in Business/ Second Semester Sec-A)Managing asuccessfulbusiness projectBishal Gurung
2Managing a Successful Business project2019Table of Contents1. Part 1..................................................................................................................................................41.1 Globalization................................................................................................................................41.1.1 Definitions.............................................................................................................................41.2 History of Globalization...............................................................................................................51.3 Globalization on Banking sector..................................................................................................61.3.1 Globalization on international level......................................................................................71.3.2 Globalization on National level............................................................................................71.4 About NMB bank.........................................................................................................................91.5 Research Aim and Objectives......................................................................................................91.6 Literature review........................................................................................................................102. Part - 2..........................................................................................................................................132.1 Project Management Plan...........................................................................................................132.1.1 Project Cost.........................................................................................................................152.1.2 Risk management plan........................................................................................................162.1.3 Action Plan..........................................................................................................................172.1.4 Communication Plan...........................................................................................................182.2 Work Breakdown Structure (WBS)............................................................................................202.3 Gantt chart..................................................................................................................................222.4 Milestone....................................................................................................................................232.5 Research Methodology...............................................................................................................242.6 Findings......................................................................................................................................272.6.1 Recommendation.................................................................................................................292.6.2 Conclusion...........................................................................................................................302.7 Performance Review..................................................................................................................302.8 Value of Research and project management process.................................................................322.9 Conclusion..................................................................................................................................342.10 Log Book..................................................................................................................................352.11 Risks Encountered....................................................................................................................38Bishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
3Managing a Successful Business project20192.12 Actual Cost...............................................................................................................................413. References........................................................................................................................................42Figure 1 Work Breakdown Structure...................................................................................................20Figure 2 Gantt Chart.............................................................................................................................22Figure 3 Milestone...............................................................................................................................23Figure 4 Tools and techniques of data collection.................................................................................26Table 1 Risk management plan............................................................................................................16Table 2 Action plan..............................................................................................................................17Bishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
4Managing a Successful Business project20191. Part 11.1 Globalization1.1.1 Definitions“Globalization is the spread of products, technology, information, and jobs across national bordersand cultures. In economic terms, it describes an interdependence of nations around the globe fosteredthrough free trade.” [CITATION Bev19 \l 1033 ]“Globalization is the process in which people, ideas and goods spread throughout the world, spurringmore interaction and integration between the world's cultures, governments and economies.”[ CITATION Mar15 \l 1033 ]“Globalization is a process by which economies and cultures have been drawn deeper together andhave become more inter-connected through global networks of trade, capital flows, and spread oftechnology and global media.” [ CITATION Geo19 \l 1033 ]“The worldwide movement toward economic, financial, trade, and communications integration.Globalization implies the opening of local and nationalistic perspectives to a broader outlook of aninterconnected and interdependent world with free transfer of capital, goods, and services acrossnational frontiers.” [ CITATION Bus19 \l 1033 ]“Globalization is the process by which businesses or other organizations develop internationalinfluence or start operating on an international scale.”Globalization has its both advantages as well disadvantages. On the positive way, it can improve theliving standard of those people who are living in developing countries by providing job opportunitiesin developed countries but on the negative view point it can highly affects the job opportunities ofpeople already living in the developed countries and countries which provides high wages butcompared to negatives it has more positive impact on the peoples and the countries. Globalization isalthough is not the new concept to the world because in ancient times traders used to travel vastdistance to buy those commodities which were rare or expensive in their homeland. The reason forthe restriction in trade between trades was because of the industrialization in the 19th century.“The think tank, Peterson Institute for International Economics (PIIE), states globalization stalledafter World War I and nations' movements toward protectionism as they launched import taxes tomore closely guard their industries in the aftermath of the conflict. This trend continued through theBishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
5Managing a Successful Business project2019Great Depression and World War II until the U.S. took on an instrumental role in revivinginternational trade.”Since then globalization has speed up with an unpredictable rate, the changing public policy andinnovation of communication technology are the two-main reason for this increment. The North American Free Trade Agreement (NAFTA) which was signed back in 1993 had highlycontributed towards the path of globalization. One of its main effect was to allow the American automanufacturers to transfer a fraction of their manufacturing business to Mexico where the cost oflabor was comparatively cheap. Through the fiscal policies and the trade agreements between countries for over the last 20 years,government has unified a free market system worldwide. The motive of most of the trade agreementswas for the removal or reduction in the tariffs. This lead to increment of the industrialization andfinancial opportunities in many countries. Now governments of most of the countries focuses onremoving trade barriers and for promoting international commerce. [ CITATION Bev19 \l 1033 ]1.2 History of GlobalizationTaking into account the significance of globalization in the banking sector, particularly commercialbanks, investigators around the globe have performed various research ondifferent levels of interestand detail. Although much has been written about the benefits and downsides of globalization, forthe financial sector, especially the banking industry, there are few solid, factual evidence anddiscussions on financial globalization.Egware (2009) stated that he had traced the history of globalization even before the post-World War2 incident. In many respects, globalization can be seen as a resumption of a trend found in the 19thcentury world's economy. It was hard to call the process experienced before 1914 "globalization".The era from the mid-19th century to World War I showed comparatively fast development in worldtrade, as the growth of exports outperformed that of real output considerably. In 1913, the share ofworld production exports reached to thepinnacle. Trade growth happened due to result of lowertariff and significantly lower transport expenses reflecting the spread of railroads and steamships.[Akinlabi, Osamor, 2013]With the removal of Corn Laws in 1846, the method of trade freedom in Europe started with theunilateral free trade movement of Britain. Because of the Cobden Hevallier Treaty of 1860 betweenBritain and France, it then spread to the other countries.Besides reducing French tariff rates, thetreaty included a Most-Favored-Nation! (MFN) clause where each contradictory party agrees toextend any other reduction in tariff rates. World War I resulted in a series of quantitative tradeconstraints by the warring parties. Following the war, many nations decreased their restrictions butBishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
6Managing a Successful Business project2019replaced tariffs in 1929 after a twenty-three percent (23 percent) increase in US import duties in mid-1930. Accompaniedwith the IMF and the World Bank, the international community established theGeneral Agreement on Tariffs and Trade (GATT) at the end of World War II. Based on multilateralcooperation principles, the GATT had a duty to reverse prices from their pre-war rates and proceedto reduce prices by at least 35%. The World Trade Organization (WTO), which succeeded GATT in1994, is presently involved in decreasing and protecting non-tariff barriers, including non-GATTfields. [Akinlabi, Osamor, 2013]1.3 Globalization on Banking sectorSince the worldwide money related emergency of 2007, global banking has pulled in upliftedenthusiasm from approach policy makers, specialists, and other monetary part partners. Maybe nodivision of the economy better shows the potential advantages—yet additionally the dangers—ofmore profound coordination than banking. Prior to the emergency, universal (banks that worktogether outside of the nation they are headquartered in) were commonly viewed as a significantsupporter of money related advancement just as financial development. This conviction matchedwith a critical increment in money related globalization in the decade before the emergency,especially for banking establishments.Furthermore, in the aftermath of the recession, many criticizedworldwide banks for transmitting downturns across nations and began to question their advantages.All doubts about the impacts of global banking have been expressed by the “Financial StabilityBoard” (FSB), the G-20, and policymakers around the globe. “Global systemically important banks (G-SIBs)” have been one of the most critical objectivesbecause they are viewedas too large and too interlinked to collapse.Research demonstrates that global banking can lead to quicker development and stabilization in twosignificant respects: firstly, by creating much-needed resources, knowledge, and fresh techniquesaccessible that make national economic structures more competitive and secondlyby allowinghazard sharing and broadening, thus also alleviating the impacts of national crises. [ CITATIONAsl17 \l 1033 ]The most recent two decades have seen a quick increment during the phase of globalization onbanking-segment. Be that as it may, contentions supporting an approach of receptiveness toward thefinancial business in a host country are a long way from all around acknowledged. In theconsequence of the ongoing worldwide monetary emergency, there has been impressive scholarlyspotlight and arrangement consideration on the jobs of outside banks in making financialdefenselessness in host nations. [ CITATION Ami19 \l 1033 ]Bishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
7Managing a Successful Business project20191.3.1 Globalization on international levelGlobalization constrains organizations to adjust to various systems dependent on new ideologicalpatterns that attempt to adjust rights and interests of both the individual and the network overall. Thischange empowers organizations to contend worldwide and furthermore implies an emotional changefor business pioneers, work and the board by honestly tolerating the cooperation of laborers andgovernment in creating and executing organization approaches and techniques.Hazard decrease bymeans of broadening can be practiced through organization association with universal money relatedfoundations and cooperating with both neighborhood and global organizations. Globalization leads about worldwide, domestic and semi-national restructuring.In particular, itcarries about manufacturing restructuring, foreign trade and banking sector incorporation.Thisinfluences industrialist monetary and social relations, by means of microeconomic andmultilateralism marvels, for example, business intensity, at the worldwide level.The change ofcreation frameworks influences the class structure, the work procedure, the use of innovation and thestructure and association of capital.Globalization is currently observed as underestimating the lesstaught and low-talented laborers.1.3.2 Globalization on National levelUnderdeveloped countries (UDCs) like Nepal can have advantages by gaining more employment,income, fresh techniques, and abilities from globalization procedures.Globalization can also havenegative effects.UDCs must compete with advanced nations (i.e., unequal competition), elevatedbrain drains possibilities, widening the divide between haves and have-nots, etc.The followingeffects in the Nepalese economy were privatization,liberalization, andstructural adaptationandprivatization in the globalization system:1.Foreign Job opportunities.With expanding Liberalization and Globalization, it has increased jobs possibilities inmultiple nations for inexpensive labor.About 1,965 thousand Nepalese laborers are occupiedwith different nations (“Economic Survey 2010/11”). In a normal 34 percent family getssettlement in 2003/04 (“NLSS-2003/04”). Due to acceptance on the global labor market, itdisplays the important input of overseas jobs in Nepalese economy.The remittance society isbecoming strong and in the future,it is anticipated to substitute other economic areas.RecentBishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
8Managing a Successful Business project2019figures show that the remittance volume was Rs. 260 billion (“Economic Survey 2010/11”).[ CITATION Bim19 \l 1033 ]2.Foreign Direct Investment (FDI)Stream of "foreign direct investment" (FDI) and the creation of "multinationalcorporations"(MNCs) is one of the main consequences of globalization. Globalization-compatible attempts have been created to attract overseas investment via liberal measures thatprioritize Nepal's privatization.Following the return of democracy in 1990, changes wereproduced to promote FDI in the industrial sector.Outsideinvestment in Nepal is quite shortas it was even below US 9 million dollars in year 1998 for "Foreign Direct Investment(FDI)".Probably due to the unstable political scenario in 2002 and 2003-it effectivelydecreased by 4 million and 2 million (US$) initially (World Bank Report, 2003).By mid-March 2010 the cumulative volume of full FDI was Rs. 5.2 billion, which provides jobs for140,993 people. [ CITATION Bim19 \l 1033 ]3.Foreign trade Globalization:Globalization in external trade opens states ' financial boundaries and promotes removingtrade obstacle and curtailing states ' import tariffs.As a part of the "WTO", the applicantshould not allow discrimination against the overseas item in the regard of globalization.It ispossible to favor nations with the competitive advantages in the commodities.But the balanceof trade in Nepal is deteriorating year after year.Exports are decreasing and nowadaysimports are growing.The exchange shortfall has been broadened and the trade/importproportion is about 1:3. The exchange reliance has been altogether expanding with Indiacontaining 67.5 percent of absolute volume of exchange financial year 2008/09 (EconomicSurvey, 20010/11). Exchange deficiency went up to Rs. 260 billion during FY 2009/10because of prominent decrease in fares to India and abroad nations. [ CITATION Bim19 \l1033 ]1.4 About NMB bankNMB Bank Limited is a Public limited company which was founded in 1996 with “C” class licenseand in May 2008 it was licensed as “A” class financial institution by Nepal Rastra Bank. For moreBishal Gurung (BTEC HND in Business/ Second Semester Sec-A)
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