Managing successful business project INTRODUCTION 1 TASK 11 P1 Project aims and objectives 1 P2 Project management plan 2 D1 5 P3 Research and data analysis
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Managing successful business project management INTRODUCTION 1 TASK 11 P1 Project aims and objectives 1 P2 Produce a project management plan 2 D1 5 P3 Produce a work breakdown structure and a Gantt chart 5 TASK 27 P4 Carry out small-scale research by applying qualitative and quantitative research 7 M2 9 TASK 39 P5 Analyse research and data using appropriate tools and techniques 9 Assessment of data -9 P6 Recommendations as a result of research and data analysis 16 M3 17
Managing successful business project INTRODUCTION 1 TASK 11 P1 Project aims and objectives 1 P2 Project management plan 2 D1 5 P3 Research and data analysis
Added on 2020-10-05
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Managing successfulbusiness project
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Project aims and objectives...............................................................................................1P2 Produce a project management plan..................................................................................2D1...........................................................................................................................................5P3 Produce a work breakdown structure and a Gantt chart....................................................5TASK 2............................................................................................................................................7P4 Carry out small-scale research by applying qualitative and quantitative research...........7M2 ..........................................................................................................................................9TASK 3............................................................................................................................................9P5 Analyse research and data using appropriate tools and techniques..................................9Assessment of data - .......................................................................................................................9P6 Recommendations as a result of research and data analysis ..........................................16M3.........................................................................................................................................17TASK 4..........................................................................................................................................17P7 Self Reflection.................................................................................................................17M4.........................................................................................................................................18D2.........................................................................................................................................18CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................20
TITLE – “To ascertain the ways businesses have coped up with the major challenges ofdigital disruption and transformation. A case study on Samsung”. INTRODUCTIONDigital disruption is a change which occurs while innovation of digital technologies andnew business model hinders value proposition of existing products and services. Basically, its aprofound and accelerating transformation within corporations which wants investment intechnology, processes and people. Basically, disruptive technology means considerably changesin the way of operating business. It forces many firms to alter their system they can do businesseffectively and reduce market risks and uncertainties (Ahmed Dine Rabeh, Jimenez-Jimenez andMartínez-Costa, 2013). Along with this, Organizations experiencing digital transformation areable to frame their new procedures, new plans of action and groups, and developing strategiesand policies in order to work in the ways that are more applicable to the state and development oftoday’s business sectors. The present assignment is based upon Samsung; its a multinationalelectronic service provider company over the world. Apart from this, the report will describenecessary aspects which are required to develop project management plan. It is essential formanagers to decide project aim and objectives. Work breakdown structure will also preparedthus to determine various activities to accomplish a project. TASK 1P1 Project aims and objectivesIn this modern era, every business association is tend towards implementing various toolsand techniques which are required to improve their efficiency and credibility. By doing this, theyare adopting digital transformation and renewing their cultural and re-establishing the way ofengaging with more and more customers. Digital transformation provide new growth tocompanies as it is marked with managing internet based cultural at workplace which facilitatescommunication and innovation. But in this competitive environment, this kind of change comesup with several challenges, i.e. hindrance on organisational cultural, change is expensive, Lackof Strategy for A Digital Customer Drive, strong knowledge to proceed and so on (Chesbrough,2010). To remain competitive and successful, firms are inclined towards applying newtechnologies which can affect their working processes and quality of work as well because it isnot sure that whether or not customer will accept the technology. For example – In between 1999to 2000, Samsung tried to launch its first stab which was a smart watch. But, as per customer's1
opinion it was not up-to the mark which impacted on their expenses. The reason behind this islimitation of current technology, including the lack of viable curved displays and batterytechnology restrictions. Along with this, it is quite difficult for companies to keep themselves update andincorporate new technologies is required to survive in this competitive market; both are quiteexpensive for companies. Another challenge for Samsung is increasing the number of securitybreaches for this, IT managers need to hire a correct network of partners and vendors and mustspeed up the finding and resolution time for a security breach to protect themselves from thischallenge. Research aim - “To ascertain the ways by which businesses have coped up with themajor challenges of digital disruption and transformation. A case study on Samsung”. Research objectivesTo determine the significance of digital transformation in business association. To identify major challenges which occurs through digital transformation. Recommend some ways by which Samsung can cope up with challenges of digitaldisruption. Research questions -Q1. What is the importance of digital transformation in businesses? Q2. What are the major challenges that occurs through digital transformation? Q3. Justify some ways by which Samsung can cope with challenges of digital disruption?P2 Produce a project management planProject management plan plays a vital role in success or failure of any project as itprovides guidance to managers in doing all activities and tasks in correct manner which areinvolved in a project. A systematically formulated project management plan enables toaccomplish project aims and objectives in an effective manner (Crane and Matten, 2016).Although, while developing any project, it is essential for managers to focus on certain keyaspects, i.e. resources, time, quality, project scope, risk etc. it ensure project growth and success.There is brief description of all those factors which must be considered in project managementplan of a company - Cost – It is one of the most important factor which should be involved while preparingproject management plan. Project managers need to assess how much cost is required for2
this project then accordingly they start preparing their budgets. Cost refers to allexpenses which will occur in project execution; it covers training and development,applying new technologies etc. The cost of this entire project will be $1 million thusmanagement is required to formulate budget accordingly. Project scope – The term project scope is an important part of project planning whichencompasses with determining and documenting a list of specific project goals,deliverables, features, functions, tasks, deadlines, and ultimately costs. It helps todetermine whether this project will be successful in future or not and will provide higherprofitability and growth to company. Scope of a project depends upon several aspects, i.e.demand of customers, market trends, environment changes, technological changes and soon (Den Hertog, Van der Aa and De Jong, 2010). While assessing project scope,managers of Samsung are required to evaluate all internal and external factors which canaffect project growth and success. This project of company will be able to improveefficiency and credibility of functional areas at workplace. Time management – Formulation of all activities as per their time schedule is alsobeneficial for project managers because it directs them how to do and when to do their.Competition of all project activities and tasks on or before their time schedule helpcompanies to review all of them and make necessary modifications if it is required. Forcompletion of this project, there is time limit of 8 weeks and managers have to completethe entire project in given time scale. So that, project managers of Samsung prepare atime schedule and then assign activities to employees and for each task, managers cangive time limit to their subordinates and ensure project success. Risk – Changes in working process bring several risks. As if implementation of changesin functioning areas get failed it may affect entire working procedures. Although,adoption of digital technology required so many efforts which aimed to drill newmethods of completing tasks (Eckerson, 2010). In order to cope with risk factorsmanagers have to design an effective policy and apply certain digital tools which canreduces future risks. Quality control – An adequate quality of a project helps manager to ensure success oftheir project. In order to maintain quality of their project, Samsung should applynecessary resources, i.e. human, financial, technological etc. Quality also depends upon3
sufficient availability of raw materials thus to make a project more attractive andinnovative. Resources – There must be ensure proper or optimal utilisation of available resourceswhile accomplishing project activities or tasks. Numerous types of resources are requiredin developing a project management plan, such as – human, financial, technological andphysical resources. For example – it should be assure that whether or not employees havestrong technical skills and knowledge in order to accomplish all project activities. On theother hand, there must be also analyse sufficient availability of finance which is requiredin competition of project. Communication – At last, communication is also an important factor that must beconsidered in project management plan of the company. While doing a project,management needs to ensure about proper communication between all employees. Ithelps in identifying effective solution of all business problems and make imperativedecisions as well. In order to communicate with each other, company can acquire verbaland non-verbal forms of communication. M1 A project management plan is critical to success of any project. In this manner, managersare required to formulate and execute an effective strategy in order to manage the project. Theprocesses involved in the plan related with knowledge areas of scope, schedule, cost, quality,human resources, communications, risk, and procurement is documented in a Management Plan.The aim of this project is to ascertain various ways by which businesses can coped up with themajor challenges of digital disruption and transformation. There are three stages of projectmanagement plan, such as – identifying opportunities and project scope. It sets up the boundariesof the project and the responsibilities of each team member. Then, there should be analysedvarious tools which can carrying out project management plan forward; although many onlinePM tools make sharing your project management plan simple. At last, there has to be prepare aproper time frame in which a project is going to be completed, i.e. eight weeks. In order tocomplete work in systematic manner, work breakdown structure and Gantt chart are the twomain aspects which supports project managers to align tasks or responsibilities to employeesaccordingly. 4
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