Managing a Successful Business Project: Impact of Digital Technology supporting Small Business Growth and Innovation
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Added on 2020-10-05
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Managing a Successful Business Project Title: Impact of Digital technology supporting small business growth and innovation that is especially tailored to Continental Consulting Limited. 3 LO 1 3 P 1 Research Aim and Objectives3 P 2 Project Management Plan: 4 P 3 Work Breakdown and Gantt chart5 P 3: Work breakdown structure and Gantt chart6 7 LO 2 7 P 4 Research Methodology: 7 LO 3 9 P 5 Data Analysis9 P 6 Recommendation 15 LO 4 15 P 7 Reflection15 REFERENCES: 17 TITLE: Impact
Managing a Successful Business Project: Impact of Digital Technology supporting Small Business Growth and Innovation
Added on 2020-10-05
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Managing a SuccessfulBusiness Project
Table of ContentsTitle: Impact of Digital technology supporting small business growth and innovation that isespecially tailored to Continental Consulting Limited.......................................................................3LO 1....................................................................................................................................................3P 1 Research Aim and Objectives..................................................................................................3P 2 Project Management Plan:.......................................................................................................4P 3 Work Breakdown and Gantt chart...........................................................................................5P 3: Work breakdown structure and Gantt chart............................................................................6........................................................................................................................................................7LO 2....................................................................................................................................................7P 4 Research Methodology:...........................................................................................................7LO 3....................................................................................................................................................9P 5 Data Analysis...........................................................................................................................9P 6 Recommendation...................................................................................................................15LO 4..................................................................................................................................................15P 7 Reflection...............................................................................................................................15REFERENCES:................................................................................................................................17
TITLE: Impact of Digital technology supporting small business growth and innovation that isespecially tailored to Continental Consulting LimitedLO 1P 1 Research Aim and ObjectivesResearch Aim: To identify the impact of social media on growth and innovation of small-scaleindustries- A case on Continental Consulting Limited.Research objectives:To explore the importance and significance of social mediaTo identify the effectiveness of social media that support business growth and innovation.To evaluate impact of social media in various activities of small-scale businessesTo recommend strategies that can help small-scale business for better useBackground of the study:Social media has influenced small-scale industries to large extent. Websites like Facebook,Instagram and Twitter have captured the entire market. It is very important for ContinentalConsulting Limited to understand the strategies of social media so that they can survive in themarket. Employees of these types of companies should be properly trained and know allapplications regarding these sites (Taylor, Bogdan and DeVault, 2015). These sites are grabbingattractions of customers from different regions. This study shows the impact and effectiveness of sites, which help these businesses toincrease their branding and provide a platform for cheap marketing. They increase sales andprovide opportunities to engage customers at various levels including high leaders and managersof the company. Higher authorities are also engaged with customers and build strong relationshipwith them (Mackey and Gass, 2015). It provides opportunity to create relationships with otherbusinesses and networking helps in increasing sales and promotion. Emphasizing more on customer relationships automatically increases sales. Thus, socialmedia, internet is very beneficial for entrepreneurs and helps in communicating with others.Continental Consulting Limited uses social media for recruitment purpose, marketing and buildingcustomer relationships. It can be considered as a gateway for profit and loss in the industry.
P 2 Project Management PlanProject management Plan consists of constraints like cost, quality, time, resources, scopeand risk. Cost cutting increases sales. Equivalency is required between scope and budget andincrease in budget may loosen up scope of the product or project. This plan is used to examineprojects. All constraints play a major role to complete a project.Time: It refers to availability of time to plan activities and estimate resources. It is majorly used togather information and document a project schedule. There should not be any dependency betweentasks because it may increase the length. Every project has a deadline and it should be completedwithin that time frame (Glesne, 2015).Time constraint includes planning schedule, management ofproject, defining activities, sequential planning of project, estimated availability of resources,duration of resources, developing schedule and finally keeping control on schedule. Activitiesinvolve management planning, environmental factors, assets of organization, decomposition andactivity list that has to be completed on time.Cost: It is one of the important factors while managing a project. It depends on variables like workpackages, resources that generate cost constraints. When companies hire contract or temporaryemployees, then economic cost must be considered, which involves productivity or worker’s skill. Cost budgeting and controlling of cost matter that generates factors like variance, which iscontrolled and influenced by cost management tool (Vaioleti, 2016). Tools include estimation ofanalogues, analysing cost rates of resources, parametric estimation and cost of quality analysis.Scope: Project is only established by its end results when all its requirements are specified.Important feature of scope is quality of the final product. Scope is determined by the time taken tocomplete the entire project. Some project totally fails because they are not properly understood ordefined. Project's cost is also increased if its scope is increased. Quality also influences its scopeand time.Risk: Risk is an important factor involved with each and every project. After completion, it has therisk of failure. Therefore, some strategies can be applied to face the consequences. Risk can beeither avoided or accepted. Plans can be further changed to face problems. Immediate steps shouldbe taken to reduce the influence of risk. Leaders should foresee risk and define responses to issues.
Risk can be outsourced or transferred to third party who is capable of managing outcomes.This increases budget that reduces scope because transferring must be done financially. Thus,proper risk management should be there so that projects should not be derailed. Leaders must beaware of consequences in order to control or mitigate the impact. Accepting risk definitelyincreases cost, which in turn reduces its effectiveness. Communication: There should be clear communication between head and group members. Allgoals of projects should be cleared to them and any miscommunication would lead to failure of theproject. Quality: Quality ensures work processes which is performed and documented. It also affects scopeand cost of the project. Products should meet all standards and requirements and qualitymanagement of any project includes plan for assuring problems, project deliverables that should bereviewed after completion (Panneerselvam, 2014). This helps in accepting quality level and propermanagement of project processes. Tools and techniques are used effectively.Resources: Availability of resources should be for smooth running of the project. Any inadequacyin the project may lead to increase in budget and lengthen up time. It is a type of constraint for thecompletion of project. Complete Group works with many types of resources like free materials,unused equipments, and unspent time to save cost. Thus, proper allocation and managementshould be there. For this, tasks must be properly understood and defined among the groupmembers. Project management can be benefited with software developments where all informationis easily modified when required (Bauer, 2014.). Thus, there should not be any type ofunpredictability in projects.P 3 Work Breakdown and Gantt chartTask NameDurationStartFinishPredecessorsfinding the investigationtopic 1 dayWed 7/4/18Wed 7/4/18framing research problem3 daysThu 7/5/18Mon 7/9/181setting times and activities3 daysTue 7/10/18Thu 7/12/182secondary research4 daysFri 7/13/18Wed 7/18/183,2choosing appropriatemethod to conduct research4 daysThu 7/19/18Tue 7/24/184
identifying cost with eachactivity2 daysWed 7/25/18Thu 7/26/185,4preparing questionnaire3 daysFri 7/27/18Tue 7/31/186analysing the collected data5 daysWed 8/1/18Tue 8/7/187,4evaluating the results3 daysWed 8/8/18Fri 8/10/188,6making judgement andrecommendation 5 daysMon 8/13/18Fri 8/17/189reflection2 daysMon 8/20/18Tue 8/21/1810,9Modification as perfeedback2 daysWed 8/22/18Thu 8/23/1811day of submission 1 dayFri 8/24/18Fri 8/24/1812,11P 3 : Work breakdown structure and Gantt chartGantt Chart : With the help of project management plan company can implement itsactivity into more productive manner. Work breakdown structure always makes small task toperform an activity. Such as present activities helps to accomplish the project objectives. To startthe activity or task first manager needs to collect all activities' information which is necessary forthe project execution. This activity take approx one day. Another activity that manager needsperform that is framing research problem for which research has been conduct to find solution orresults. Further, manager setting activities or time for meeting coordinating etc. Gantt chart is thetype of structure that helps to know about the previous activity and next activity. It helps to clearthe direction and reduce confusion among other team members of the company. Manager alsoneeds to look upon the cost that each activity will be going to take. Project manager needs to makeGantt charts in order to keeping the records of all the activities. Present project aim is to implementthe social or new innovating technology into the business functions. Project manager also takefollow up of all activities or process to measure the successful outcomes.
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