Managing a Successful Business Project.

Managing a Successful
Business Project

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Project aim and objectives.................................................................................................3
P2 Project management plan with cost aspects, scope, time, quality and communication risk
................................................................................................................................................5
P3 Work breakdown structure and a Gantt chart....................................................................6
TASK 2............................................................................................................................................9
P4 Small scale research by implementation qualitative and quantitative research................9
TASK 3..........................................................................................................................................10
P5 Evaluation research and data using appropriate tools and techniques............................10
P6 Appropriate recommendation as a result of data and research analysis..........................21
TASK 4..........................................................................................................................................22
P7 Reflection upon undertakings to attain objectives..........................................................22
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................22
APPENDIX....................................................................................................................................24

INTRODUCTION
Talent can be defined as an inborn aspect and specified capabilities within an individual
for performing a particular task (Ashif, 2019). Talent management is an aspect which undertakes
required procedures and systematic process of filling up vacant position and enhancing proper
skills along with adapting skills for expertise. There are various strategies of talent management
such as job description, rewards, opportunities for continuous development. These are regarded
as effective strategies within talent management in order to attract and retain top level talent. For
this project Waitrose organisation is chosen.
TASK 1
P1 Project aim and objectives
Waitrose is a British supermarket chain which was founded in the year 1904 by Wallace
Waite,David Taylor, Arthur Rose. The company is market leader is selling groceries and wine.
All the frozen and non-frozen items are being sold by the company such as dry fruits, dairy
products, meat and many more (Savelyeva and Kurina, 2019). In current time company is facing
issues of employee turnover so in order to deal with this company is looking forward for
retaining talent in their organisation. There are numerous strategies which are adopted by
Waitrose in order to retain talent such as providing appropriate rewards, continuous
improvement and many more.
Project aim:
“To recognise talent management strategies used by businesses in order to attract and retain
talented workforce”. A case study on Waitrose.
Objectives of the project:
 To enhance basic understanding in respect of talent management for an organisation.
 To identify prominent talent strategies that will be used by Waitrose
 To examine methods for attracting and retaining talent within Waitrose. To recognise importance of talent management in attracting and retaining talent
workforce for higher duration.
Questions of the project
 Explanation of talent management in respect of a chosen organisation?
 What are the prominent talent strategies which can be used by Waitrose?

 What are those methods by which Waitrose may attract and retain talented workforce?
 What is the significance of talent management strategies used by Waitrose in order to
attract and retain talent for extensive time period?
Literature review
Explanation of talent management in respect of a chosen organisation?
According to Lopes, S.A., 2016, talent management is defined as the approach which is
associated with managing organisation in order to build team and enhancing capabilities in such
a way that given task can be attained in particular time frame along with higher quality. This
defined that management of an organisation is required to put their focus on adopting varied
methods through which employees can perform in better manner along with exceptionally
achieving their objectives in optimal manner. In the context of Waitrose talent management is
essential for the organisation in enhancing team capabilities and environment of working. This is
directly helping the organisation to attain competitive edge and prominent position in
marketplace.
What are the prominent talent strategies which can be used by Waitrose? \
According to Smith, 2018, talent managerial is regarded as the practice which is required
to be performed by the managerial authority of the organisation. In this context Waitrose is
trying to analyse working conditions of employee situation in which effective solution can be
rendered which enlarges motivation by which work can be managed at organisation. There are
various strategies which can be used by management in employing people such as training,
rewards and performance appraisals. Training is helpful in developing skills and to encourage
people in such a way that enhancement in retention of employees for longer duration. On the
other hand, these activities are developing personal and professional capabilities within working
employees by which engagement and retention can be enhanced.
What are those methods by which Waitrose may attract and retain talented workforce?
According to Panackal and Singh, 2016, There are numerous ways which can be used by
Waitrose in order to retain and attract workforce in the organisation. These strategies include
rewards, appraisals, promotion, training and many more. In detailed manner these are elaborated
as under:
Rewarding: This is related to providing monetary payment and other non-monetary
benefits in context of performance shown by employees. This is having high benefits over work

engagement of employees and this contributes in skills and personality of employees in positive
manner.
Promotion: Promotion is defined as recognition of employees. This generated high level
of motivation and higher involvement of employees. On the other hand, promotion is proven as
the major factor of employee retention by which businesses can keep their talented employees
within workplace.
What is the significance of talent management strategies used by Waitrose in order to attract
and retain talent for extensive time period?
According to the viewpoint of Iscandarov, 2018, management strategies are associated
with various significance by which several benefits are obtained such as:
Good team: Talent management strategies are helpful in developing good team which
are aligned towards attainment of organisational goals and objectives in effective manner. This is
providing future benefits to the company and employees as well as with the help of talent
management strategies productivity of the business can be enhanced (Saadat and Eskandari,
2016).
Improved workplace practices and atmosphere: With the help of adopting these
strategies atmosphere of working can be enhanced and render positivity as well. By adoption of
effective strategies office politics can be eliminated which provide positive results over
strengthening employee relationship and their retention within ground working.
P2 Project management plan with cost aspects, scope, time, quality and communication risk
Project management plan: This is a formal document which is helpful in explaining
research project that is going to be take place (Balcerzyk and Materac, 2019)). This outlines
various element such as budget, goals, timeline, scope and many more so as to keep the project
on track. This is significant for the project manager that project is to be completed in systematic
manner along with higher succession. This plan is associated with various components which are
elaborated as under:
 Cost: This is an essential component within project management plan as this is helpful
for the business organisation in order to finish project with high succession. Cost of the
existing project is shown as under:
Total forecasted budget

Particular 2019-20($)
Implementing technology cost 20000
Promotional expense 5000
Advertisement expense 5000
Catalogues 1600
Training charges 8000
Total cost 34600 Scope: Present study is having wide scope as this is helpful in enhancing knowledge
regarding strategies of talent management. This study is related with wider scope as this
involves qualitative research in which numerical information is being provided (Retief,
2018). Time: Time is regarded as essential aspect of the project management plan which is
helpful for the investigator to finish a project in given time frame. With the help of
Gantt chart ending and starting point for research completion (Boselie and Thunnissen,
2017). Quality: This is significant that researcher is completing each activity in enhanced
quality manner. Qualitative research is going to be used within this topic. Communication: This is an imperative element within project management plan which
is supporting communication within all respondents. There are various communication
channels such as oral and written communication channels, emails and many more. This
is helpful for researcher in order to attain research objectives in prominent manner. Risk: There are varied risk which are existed in this project such as lack of resources,
lack of time and many more. These risks are hampering research performance in
negative manner.
 Resources: There are numerous resources which can be used to collect information on
the given topic. These sources include books, publication, magazines and many more.
These are secondary source of data collection on the particular topic.