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Managing Successful Business Projects

   

Added on  2020-12-10

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MANAGING A SUCCESSFULBUSINESS PROJECTS
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Determining main aim and objectives of given project .................................................1P2 Project Management Plan for Continental Consulting Limited........................................3P3 Evaluation of Gantt chart and work breakdown structure for given project .................5TASK 2............................................................................................................................................7P4 Conducting research by applying quantitative and qualitative techniques for given project................................................................................................................................................7P5 Evaluation and interpretation of data ............................................................................10TASK 3..........................................................................................................................................16P6 Suggestions for the company .........................................................................................16TASK 4 .........................................................................................................................................17P7) Reflection about experience of conducting research ...................................................17CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19APPENDIX ...................................................................................................................................21
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INTRODUCTION In today's era, digital technology has become inevitable part and parcel of every aspect ofa firm. It is critically adopted as a primary source for product differentiation, growth andprofitability of a business. With rapid speed of technological development around the globe inform of smartphones, tablets, mobile phones etc., there has profound effect on customersbehaviour and small scale businesses to a large extent (Ackermann, 2012). The project is basedon case study of Continental Consulting Limited which is a research and business consultancyfirm dealing mainly in process re-engineering. With span of time IT technology used by firm, ithas become obsolete and firm has decided to implement new technology in order to remaincompetitive. The report will discuss aims, objectives and time frame related to implementation ofdigital technology. A research will also be conducted for providing recommendation aboutprobable impact of digital technology on firms operations.TASK 1P1 Determining main aim and objectives of given projectThe immense popularity and adoption of digitalization has enabled business to stayconnected with its customers through the medium of mobile phones. In today's era of intensecompetition, business regardless its nature and size is subjected to keep pace with technologicaldevelopments and innovations (Autio and et. al., 2014). For instance, mobile digital technologythat is to be used by Continental Consulting Limited is greatly assists firm to capture itscustomers attention by creating and providing targeted ads, new on the go services and otherpromotional activities to engage their customers and induce them to make a purchase. Today,with mobile technology, relationship between entrepreneur and consumers are extended beyondphysical store into a digital sphere. Background of Project: The project is conducted to ascertain the probable effect ofdigital technology and how its assists small business growth and innovation.With emergence ofseveral changes in IT industry, equipments that are being used by Continental ConsultingLimited has become obsolete and firm feels that it is time to update the kind of IT technologythat firm had been using so far. It is of utmost importance for company to adopt these newinnovative techniques so as to enhance firm's capabilities and core competencies to its maximum
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potential (Bradley, Wiklund and Shepherd, 011). In particular, IT managers of company isthinking of adopting mobile technology in form of Application Program Interface that willenable various software applications to interact with its consumers. Through digitalization firm isalso to get benefit by reducing it cost and time on its various business activities. Further, it willalso assist firm to conduct extensive research for collecting opinions of its consumers andthereby, modify its products and services as per their need and demands (Chava and et. al.,2013). However, adopting an entire new digital technology is not easy for a firm and is subject toface huge resistance from the workforce. Thus, to successfully implement and enforcedigitalization in its various business operations, it is requisite for the managers of ContinentalConsulting Limited to motivate its staff members to adopt and absorb the new changedtechnology my communication them need and associated benefits for organisation and to them aswell. Topic-: “The effect of digital technology on the growth and innovation aspects of smallbusiness ”.Aim:“ To ascertain effect impact of mobile techniques in supporting growth andinnovation of small business ”Objectives:To ascertain presumptive effect of mobile techniques on company and its future growthprospects.To examine key business operations that are likely to get benefited with adoption ofmobile technology.To determine the probable negative and positive effect of mobile technology on salesvolume and profitability of Continental Consulting Limited.Research QuestionWhat are the probable impact of mobile technology on firm and its growth in near future?What are the major business operations that is to get aided by mobile technology?What could be positive and negative impact of mobile technology on ContinentalConsulting Limited sales and profit levels?
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P2 Project Management Plan for Continental Consulting LimitedA project management plan could be described as a written document that brieflyexplains various attributes related to execution, monitoring, controlling and closure of particularproject that is to be undertaken (Dudinand et. al., 2013). It is a detailed document that includessubsidiary management plans, baselines and other essential planning related documents. AsContinental Consulting Limited is about to introduce new mobile technology to expand itsbusiness activities online, it is requisite for managers to prepare a thorough project managementplan. It is beneficial for firm as it would assist to determine what company seeks to achieve fromthis particular, how it will be attained, how many people are required to complete it and howproject will be reported, measured and communicated. Thus, it will keep managers ofContinental Consulting Limited focused towards maintaining project quality as per pre-determined standards to carry out operations according to policies, procedures and directions thatare laid down for its execution. Various factors that are related to implementation of digitaltechnology in the firm and needs to determined by managers are mentioned below:Scope: The use of APIs technology in mobile technology is to provide vast scope toContinental Consulting Limited to attain effectiveness in its various business relatedoperations from marketing to development and strategic planning to accounting. Statistsestimated that there are 222.9 million smartphone users are using mobile technology tooperate social media and other online apps to purchase goods and services. Also, inrecent time, large social apps like Facebook, Snapchat etc. have recently launched an APIthat will help firm to advertise their products/services and to diversify their campaignsthrough mobile technology (George and Bock, 2011).Cost : Cost of project plan estimates the total expenditure to be incurred in adoptingnew mobile technology by thoroughly determining various aspects relate to project. Inits initial phase application of digital technology, it is subject to huge capitalinvestment as it includes various expenditures related to organizing proper trainingprogram for employees, cost of installation of new equipment’s in various departmentsand many other related costs.Total forecasted budgetParticular Amount in pounds £
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Promotional expense15000Implementing technology cost3000Advertisement expense3200Training charges1400Catalogues5500Total cost28100From above given table it has been concluded that Continental Consulting Limited requireapprox. 28100 pounds to carry out implementation of digital technology at workplace. Quality: Mere completing a project is not enough for company to get the advantage fromnew technology, quality aspect is to be kept in mind as well (Lee and et. al., 2012).Therefore, to successfully complete a given project with high quality standards, it isessential for Continental Consulting Limited to hire a proficient team of field experts thatcould provide relevant directions, suggestions and guidelines for efficiently apply andmake use of innovate and latest technology so that company can attain an edge over itsbusiness competitors. Time: This aspect is concerned about the average estimated time that is required toimplement new technology in various departments of firm. In addition to this, approxpayback period of a project is also ascertained. Continental Consulting Limited in thisregard make use of critical path method to compute probable timefor new technologyinstallation. The project for implementing mobile technology in business operations willsubject to take approx 10 weeks to be completed.Risk:Risk evaluation forms key aspect to be determined in advance by a firm during itspre implementation phase of project (Lundvall and et. al., 2011.) It assists ContinentalConsulting Limited to be proactive in identifying and analysing various likeable issuesand problems that firm might encounter during implementing digital technology in itsbusiness. For instance, resistance from employee, training needs, investment of hugecapital and other related resources etc. Resources: This facet involves detailed explanation of the essential resources that arerequired for effective and proper application on new digital technology by Continental
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Consulting Limited. It follows estimation about human, finance, technological and otherassociated resources (Crane and Matten, 2016).Communication: Maintaining a transparent, two way communication is of vitalimportance for Continental Consulting Limited. It is because it assists company to sharevarious information, new objectives, benefits and other essential knowledge related tonew project with its employees. For managers of Continental Consulting Limited, it isthus of high significance to be proficient in interpersonal and communication skills so asto gain mutual cooperation and trust of its employees. Thus before sharing anyinformation managers of Continental Consulting Limited analyse various medium ofcommunication and chose the most appropriate one in order to provide information to itsstaff. For instance, for this particular project firm has selected questionnaire foridentifying opinions and feedback of its workforce as well as public (Eweje, Turner andMüller, 2012).P3 Evaluation of Gantt chart and work breakdown structure for given project Work-Break Down Structure:WBDS is a sequential and additive disintegration of aproject that help into various stages, work packages and deliverables that a managers uses toeffectively handle its project team and their assigned tasks (Fisher, 2011). It is a pictorialdescription of scope of an assignment into smaller chunks that makes it easily understandable forproject team as each step of WBDS involves details and explanations. Project managementdepartment of Continental Consulting Limited prepares WBDS for their new plan by analysingkey operational deliverables and further dividing them in to small units those are divided tilldelegated to particular employee
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Illustration 1: Illustration 1: Breakdown Structure for Project Management, 2018(Source:Break Breakdown Structure for Project Management, 2018)Gantt Chart: It is a horizontal bar chart depicts various lengths that displays timeline of a projectthat includes duration, job sequences, starting and closing dates etc. It forms an essential toolthat is designed by project team of Continental Consulting Limited in order identify sequences ofdifferent work tasks in a project that are required to be completed within specific time andbudget Keller, Parameswaran and Jacob, 2011).
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