Managing a Successful Business Project Assignment - Tesco

Managing a Successful
Business Project

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Aim and objectives for the chosen scenario..........................................................................1
P2. Project management plan with all important aspects............................................................2
P3. Work breakdown structure and Gantt chart...........................................................................2
LO 2.................................................................................................................................................5
P4. Applying qualitative and quantitative research methods to meet project aim and objectives
.....................................................................................................................................................5
LO 3.................................................................................................................................................7
P5. Analysing research and information with the use of appropriate tools and techniques........7
P6. Appropriate recommendations and a valid conclusion.......................................................14
LO 4...............................................................................................................................................15
P7. Reflection on the value of undertaking research to reach at stated objectives....................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Today’s era is of globalisation without which businesses now-a-days cannot survive. It is
one of the most important parts for businesses to sustain. Being operating at an international
level, firms are having a lot of implications from globalisation in the form of political, cultural,
ethical and economic (Lawrence and Almas, 2018). Several economic impacts are there that
firms are facing, especially in retail sector where customer’s tastes and preferences are changing
at a very fast rate. With globalisation, retail sector in the UK has developed economically as well
as socially which is satisfying all stakeholders with increasing efficiency of operations. In the
present study, there will be discussion on identifying the positive economic impacts of
globalisation on operational activities of retail sector of UK with reference to Tesco.
LO 1
P1. Aim and objectives for the chosen scenario
Aim – To identify the positive economic impacts of globalisation on operational activities of an
organisation – a case study on Tesco, UK.
Research Objectives
 To analyse the economic impacts of globalisation on organisational functions in retail
industry of UK
 To identify the positive economic impacts of globalisation on operational activities of
Tesco, UK
 To determine the challenges that Tesco has to deal with due to economic implications of
globalisation
Research Questions
1. What are the economic impacts of globalisation on organisational functions in retail
industry of UK?
2. How does economic impacts of globalisation prove to be positive for operational
activities of Tesco, UK?
3. What are the challenges that Tesco has to deal with due to economic implications of
globalisation?
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P2. Project management plan with all important aspects
Project management plan can be referred as a formal document which is mainly prepared
to make all activities run as per the specified sequence. Further, it shows who all stakeholders are
associated with plan along with the scope of study. This assists in identifying and dealing with
the associated risks by making contingency plans. There are some important aspects of project
management plan like:
Cost – This states about estimating the total cost that will be required to accomplish the project.
Costs that are covered under this are related to labour, assets and direct expenses.
Scope – To understand the scope of project first is important to be understood before
implementation of the plan (Kerzner, 2018). This helps in increasing the probability of project to
become successful as well as in assessing the risks associated with it.
Time – Without giving due consideration on the aspect of time, it is not possible to accomplish
the project within stipulated timeframe. Therefore, each activity of project management plan to
be specified with its deadline is crucial.
Quality – While running a project, to meet the quality standards is crucial to make it successful.
Thus, all set quality standards are important to be complied with in the execution of project to
reduce the chances of its failure.
Communication – Success of a project management plan highly depends on the effectiveness of
communication (Heldman, 2018). In relation with various working relationships, communication
should be very clear to make all associated stakeholders satisfied.
Risk – It is essential to analyse and assess all associated risks before the implementation of
project so that chances of its failure can be reduced by dealing effectually with the same.
Resources – If resources required to execute the project management plan like manpower,
finance and physical are not sufficient enough, to complete it is not at all possible and so, there
will be delay in reaching at the final outcome (Nonino and et.al., 2018).
P3. Work breakdown structure and Gantt chart
Work breakdown structure (WBS) is mainly designed to meet the objective of having a
clear understanding and vision regarding work to accomplish the project so that team members
will have an appropriate understanding of all tasks that they are supposed to perform. WBS
shows activities to be conducted in a hierarchical format which helps in obtaining the results in
an efficient manner and within stipulated period of time (Premji, 2018). Whereas, Gantt chart is
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basically a horizontal representation in the form of bar chart which provides a graphical design
of activities to be conducted in a proper sequence with their starting and end date so that final
deadline of project can be met within specified period of time.
Figure 1: Work Breakdown Structure (WBS)
Activity Schedule
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