Analysis of Project Management and Entrepreneurial Ventures

The provided assignment is an analysis of project management and entrepreneurial ventures. It includes a list of references to various research papers and articles on the topic, such as managing success factors in entrepreneurial ventures, quality management in projects, and demand side management in India. The document appears to be preparing for publication on Desklib, which provides past papers and solved assignments for students.

Managing Successful Business
Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives of projects........................................................................................1
P2 Project management plan..................................................................................................2
P3 Explain Work break down structure and Gantt chart........................................................5
TASK 2............................................................................................................................................7
P4 Carry out Small scale research..........................................................................................7
TASK 3............................................................................................................................................9
P5 Analysis of research and data using appropriate method..................................................9
P6 Recommendation.............................................................................................................16
TASK 4..........................................................................................................................................16
P7 Reflection........................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18

INTRODUCTION
Digitalisation is trending and best technology which is adopted by each business and
commercial organisation for better and quick services. The organisation are able to document
and store their information and data according to their needs through the help of this technology.
Entire enterprise are using digital technology for various purposes such as marketing, sales,
clerical work, management etc. Wilko Retail Ltd. is one of the developing and high chained
retailing company developing in competitive market (Awais Ahmad Tipu and Manzoor Arain,
2011). The purpose of this report is to determine aims and objectives of this report that further
will use various methodologies and technology as well as data collection and interpretation for
coming to desired outcome of this report.
TASK 1
P1 Aims and objectives of projects
Planning is a fundamental process introduced and adopted by each and every small as
well as large organisation for developing and expansion of their business. Through it a company
can maximise their benefits and reduce their expenses. A project should portray entire idea or
plan that avail in accomplishing particular targets and goals of an organisation to make it more
larger and higher in competitive industry of retailing. As Wilko Retail Ltd. Is a small
organisation, it is one of major elements to undertake for organisation to use limited resources of
company into various usages. The major objectives and motive of this project management is get
increment in return of investments in order to satisfy the demands of consumer as well as
organisation itself (Digital strategy and capabilities to win in a digitized world, 2017). As there
are various organisation which is evolving in competitive industry it have become tough to
sustain as they are also rendering innovative ideas and creative products. Wilko Retail Ltd. get
help of dig8ital technology for better operation functioning as well as making effective decision
for enterprise. As digitalisation have transformed the business world entirely, it have helped in
evolution of small business firms as well as innovation. Innovation refer to modification which
can be delivered and adopted by organisation in order to make more demands and consumers.
Topic: Impact of digital technology in growth and innovation.
Background of Project
1

Modification and change in a evolution process that adopted and occur in each
organisation and individual. This is indispensable for a company to make according alternation
in the services, plans and policies of company in order to create a positive external working
environment. In the commercial enterprise. It will bring out several modifications which is
appropriate for company. Digital technology avail in altering entire scenario of Wilko Retail Ltd.
As well as able to changes large organisation's as well. Through the help of this firm can not only
improve the documentation of files and information but also avail in promotion and marketing
process which can motivate worker for effective performance.
Accounting, marketing and sales departments have been supported in various financial
activities, function of company as well as promotion activities which company perform. On the
other hand, HRM can perform various worker with higher qualities and skills experts in online
technology and working technology The other department which is highly influenced by digital
technology in Wilko Retail Ltd. Is production departments in production of goods and products
in less cost and more advanced and modified techniques (Basu, 2014). This report have rendered
company various objectives and aims for which analysis of project is made in order to meet
outcome in effective way.
Aims: For interpreting utilisation of digital technology aim have been determined which
is Impact of digital technology in growth and innovation: A Case study of Wilko Retail Ltd.
Objectives: This is one of the developing retailing company in streets of British Market
that is adopting digital technology for facilitating ease in their system and functioning such as
interface controller, digital billing system, self pay or Cart payments in their organisation in
order to deploy the consumer amount and evolve in competitive supermarket. Here are some
objectives of company:
 To analyse the need of digital technology in organisation.
 To identify the assistance of digital technology in various functions and increased
productivity of company.
 To assess the impact of digitalisation in innovation and growth of Wilko Retail Ltd.
P2 Project management plan
The project plan management formulation is fundamental for recognition as well as
measuring several types of risk in process of managing successful business project in effective
manner. This can avail in attaining objectives and targets that are determined by the organisation,
2

an company can organise various market research, administration plan and researcher for in
order to identify various harms and danger in the projects. Beside this, the plan of management
refer to the techniques which is utilised by a company for meeting objectives and goals. The
measurement of various elements would be made in this procedure which is mentioned under:
Project Scope: It can be captured in which areas that are involved in the reports of
projects. Wilko Retail Ltd. Is British retailing high street chain that merchandise various
households goods and housewares. Project will analyse impact of digital technology on their
innovation process and growth (Geraldi and Lechter, 2012). In it, use of various resources would
be made for accomplishing the targets and aims set by company. All The organisation is require
various projects and services which can help in gaining maximum benefits and profits in
enterprise.
Cost Control: There are particular process of organisation that help in reducing the extra
and necessary cost. Wilko Retail Ltd. Is working on those activities and adoption of digital
techniques for gaining access to maximum productivity and employee performance. The
organisation is using process of paper work for directing entire expenses for pricing operations in
effective way. The secondary and primary research methods can help in analysing consumer
expectations and demands in effective manner. It can avail in making appropriate and proper
decision making according to determined budget of enterprise. Also for undertaking various
processes to accomplish this project such as Gantt Chart, Critical path, this is responsibility of
investigator to evaluate income level of Wilko Retail Ltd. Thus, it is required to control cost for
accomplishing successful project for business.
Quality Control: Quality is major elements that attract consumer for products and
services beside of cost of enterprise. It is fundamental for maintain and manage good quality of
services and products for Wilko Retail Ltd. As this is a retailing company. The organisation is
majorly aiming to development of digital technology in system of company. Through good and
effective support of digitalisation in various different process such as payment process,
manufacture process, information documentation process etc. Majorly it help in communicative
process which can avail company in maintaining relation with stakeholders and buyers in
effective way. Worker and employee entirely relay on research and market analysis for
understanding services and products demands of clients or costumer from cited organisation. It is
important for analysis is collect proper information and cone-tent related to project for effective
3

development and attainment of objectives. The organisation will set the budgets plan in order to
meet market research and analysis for identifying various aspects of it.
Communication: In order to make the investigation of marketing, this is required to a
company to maintain proper communication in external and internal environment in order to
accomplish demands and wants of consumer. Enterprise can utilise internal communication
technique for adopting conflicts and resistance from working environment as well as make the
changes which is required for the method of communication.
Resources: Market research demands various resources and requirements of resources in
order to make work relevant and easier. There are various resources which be required for this
project completion such as human resources, technical and financial resources etc. Technical
resource would help in catering digital technology in process of innovation for growth and
development of enterprise (Harish and Kumar, 2014). Financial resource will be used for
understand and adopting those technical resources which is arranged through funds whereas
human resource would be used for adoption and proper implementation of project plan in
working environment of Wilko Retail Ltd.
Risk Management: This one of most essential elements and reducing danger or limitation
techniques in which enterprise produce risk assessments plan for reducing risk from successful
business project. It can be detailed as the issues and problems which can come while completing
entire digitalisation process. This process avail in the decrement of limitation and problems and
help in meeting desired goals. Through support of various research methodologies, an risk
management idea can be maintained. There is one more risk that a company face while
competing entire project which is over-costing of the entire assignments. Thus, it is required to
manage a proper plan before implementation of any techniques and method.
Time: This is indispensable elements as time can increase the effectiveness and reduce its
impact as well. It is about time, which time which technology is being used by an organisation
for attaining objectives and aims. The major elements which consume major time is analysis of
data and interpretation. A project is based on these elements that should be organised in proper
way. A company can use Gantt Chart and Breakdown structure activity for managing the entire
steps of work within time frames for accomplishing and increasing impact of organised
activities.
4

P3 Explain Work break down structure and Gantt chart
Here are some phases which is utilised for conducting an effective research and
managing successful project for business that can avail in gaining positive impact which is
discussed under: Aims and Objectives: The primary step of this research is determining objectives and
aims which is required to be done in proper manner. After completion of this step of
research, next step of research would be made. It will take approximately 10 days in
completion. Plan Managements: This is next step of setting aims and objectives that research
measures entire elements that affect the development of report such as time, risk, scope,
communication, resources. This process will take minimum 11 days to finish. Primary & Secondary Research: there are various their companies in retail industry that
ha e adopted digital technology for evaluation and growth. On the other hand, the impact
would be different in Wilko Retail Ltd. as due to element and external factors. This
process will take various primary and secondary data which is framed to complete within
20 days. Data Evaluation and Interpretation: There are various alternation and influence of those
processes which have been undertake yet which would be analysed in this phase. This
process will interpret and analyse collected data through using graphical methods for
proper and factual result (Hwang and Ng, 2013). This step would consume nearly 4 days
in completion of interpretation and graphical analysis of project. Recommendation: This is one of most important process in which recommendation
linked with the information and data would be done. This report will suggest the
enterprise ways through which they can make alternation and modification in entire
process. It will consume more than 5 days.
 Self- Reflection: Generally, this is a perspective of analyst or researcher written on he
grounds of experiences and knowledge that they gained through completing respected
report. It take 2 days as it involve merits and demerits of entire business project.
5

6

Action Plan People Involvement: The people who are involved in project are services users, worker
and researcher of Wilko Retail Ltd. Place: The data for research is mainly collected from internet and e-books as well as
websites. Information collection location: Trough corporate offices, best ad suitable market survey
would be analysed for market survey. Data Review: The information and collected data would be reviewed.
 Process of input data: The worker can gain information through forms of questionnaire.
TASK 2
P4 Carry out Small scale research
A research makes use of various strategies, methods and technologies for collecting
appropriate data from various resources as well as accomplishing systematic process of project
completion. There are various technique and method which have mentioned under:
Qualitative Research: It is one of effective research methods which often analyse and
interpret behaviour and attitude of research topic and gather information linked with it. This is
utilise for examining and analysing review and opinion of people. The methods of qualitative
research using tools of analysis such as survey, questionnaire, interview, observation and many
other. Majorly researcher use several processes for getting authentic information and data related
to the project (Kowalkowski, Kindström and Brehmer, 2011). The theme of this methods is
psychology and human behaviour analysis represent quality of a research topic despite focusing
over authentic data and logics. Hence, it is one of most used research techniques.
Quantitative Research: With quantitative research utilisation, a researcher can meet
statical data, figures and reports which can avail them in enhancing manufacture process of
enterprise. This can help in dealing with figures and numerical data which is majorly utilised to
get logics along with statics in regard of project or research. Where qualitative research can avail
in analysing behaviour and human interest, the quantitative method can help in making quantity
evaluation through help of primary data analysis. It is one of the most effective ad authentic
research methods which use various effective tools such as questionnaire, interview, observation,
survey etc.
7

Primary Data Collection: This methods collects the fresh and new information linked
with regarded topics. It us various research and data collection tools such as questionnaire,
interview, feedback analysis, observation and many other that carry research toward a new data.
It is helping for both type: qualitative as well as quantitative research techniques. After the
changes in structure of organisation, this is required for manager or investigator to make primary
research for accessing results or outcome.
Secondary Data Collection: It is one of mots used and convenient method in which
collection of information and data would be done on various different sources which have been
published and used. These sources includes journals, websites, internet, websites, books, census,
diary, published market research, audio and visual proofs etc. This can be considered as quicker
and collection data that also render authentic information. There are several investigator which is
the process to gaining new data and outcome in regard of their project as well as considered as
one of the most effective and best technique.
This report will use both qualitative and quantitative research techniques for gaining the
quality or response of consumer as well as worker in regard of digital technology as well as
getting authentic data linked with it (Leach, 2014). Here for collection of data questionnaire
would be made which is explained as below:
QUESTIONNAIRE
Name:
Gender:
Age:
Q.1. Does digital technology help in growth of your organisation?
a) Yes
b) No
Q.2. Do you think that digitalisation have delivered long term benefits to Wilko Retail Ltd.?
a) Yes
b) No
Q.3. Can digitalisation support accelerated and innovative growth of business?
a) Agree
b) Disagree
Q.4. Is this possible for digital technology to evolve positive influence for aiming business
8

innovation and growth activities?
a) Yes
b) No
Q.5. Dose Wilko Retail Ltd. Produce new innovative products for more consumer base?
a) Yes
b) No
Q.6. Dose the company contains advanced technology for information and data storage?
a) Agree
b) Disagree
Q.7. In which way, growth of business and operation innovation will influenced?
a) Positive
b) Negative
c) Neutral
Q.8. Which method of marketing is suitable for an organisation in preset scenario according to
you?
a) Traditional
b) Modern
TASK 3
P5 Analysis of research and data using appropriate method
This report have taken the sample of 20 responder which have used the simple non-
random sampling method for proper representation of population (Marston and et. al., 2011).
Here is the interpretation of analysed data:
Theme 1: Digitalisation assist in growth
Q.1. Does digital technology help in growth of
your organisation?
a) Yes 14
b) No 6
9

a) Yes b) No
0
2
4
6
8
10
12
14
14
6
According to graphs, it can be stated that 20 out of 14 responder believes digital
technology is effective and suitable techniques for growth for Wilko Retail Ltd. Whereas 6 of
them do not agree with the same view (Porwal and Hewage, 2013).
Theme 2: Digitalisation render long term benefits
Q.2. Do you think that digitalisation have
delivered long term benefits to Wilko Retail
Ltd.?
a) Yes 11
b) No 9
10

a) Yes b) No
0
2
4
6
8
10
12 11
9
This concluded that 11 out of 20 agreed with the digital technology lasting benefits on the
organisation and its operations (Ryan and Campbell, 2012). But there were 9 responder who
said there is no long term impact by digitalisation in any company.
Theme 3: Digitalisation fasten the development
Q.3. Can digitalisation support accelerated
and innovative growth of business?
a) Agree 12
b) Disagree 8
11

a) Agree
b) Disagree
0 2 4 6 8 10 12
12
8
Series7
Series6
Series5
Series4
Series3
Series2
Series1
According to the response analysis, it can be claimed that 12 responder agree with rapid
company growth and development of company which is an organization get from digital
technology whereas 8 were not agree with their facts (Sharon and Dori, 2015).
Theme 4: Digitalisation evolve positive influence
Q.4. Is this possible for digital technology to
evolve positive influence for aiming business
innovation and growth activities?
a) Yes 15
b) No 5
12

15
5
a) Yes
b) No
According to the graph, it can be stated that 15 out of 20 responder agree with digital
technology and its positive impact on innovation process, growth and other operations of
enterprise whereas 5 of them still disagree with this (Smith, Gonin and Besharov, 2013).
Theme 5: Avail in innovation of products
Q.5. Dose Wilko Retail Ltd. Produce new
innovative products for more consumer base?
a) Yes 10
b) No 10
a) Yes b) No
0
2
4
6
8
10
12
10 10
Series6
Series5
Series4
Series3
Series2
Series1
13

Innovation is required process that help in suiting and modification of enterprise
according to need of change in market and industry (Stoshikj, Kryvinska and Strauss, 2014). 10
out of 20 believes that the process avail in building new products and ait is necessary to make
new services for consumer. Whereas 10 of them disagreed.
Theme 6: Organisation adopt modified technology
Q.6. Dose the company contains advanced
technology for information and data storage?
a) Agree 15
b) Disagree 5
a) Agree b) Disagree
0
2
4
6
8
10
12
14
16 15
5
Series1
Series2
Series3
Series4
Series5
Series6
Series7
Series8
15 out of 20 people responded that the digital technology also avail in modification of
recent technology in an organisation whereas 5 of them claimed that there is no role of
digitalisation as it itself demands for modification.
Theme 7: Impact of innovation operations & business growth
Q.7. In which way, growth of business and
operation innovation will influenced?
a) Positive 10
b) Negative 6
c) Neutral 4
14

10
6
4
a) Positive
b) Negative
c) Neutral
The graph state that 10 out of 20 people believes that the organisation helps in meeting
the competitive objectives and growth in business activities (Viaene and Van den Bunder, 2011).
6 of them didn't agreed with this fact whereas 4 of them claimed there is both positive and
negative influence as well.
Theme 8: Present marketing scenario
Q.8. Which method of marketing is suitable for
an organisation in preset scenario according
to you?
a) Traditional 9
b) Morden 11
a) Traditional
b) Morden
0 2 4 6 8 10 12
9
11
11 of them agree with modern marketing technology whereas 9 of them states that
traditional marketing approach is still useful and effective in promotion and marketing of
products (Verzuh, 2015).
15

P6 Recommendation
Digitalisation is new trend and technology which should an organization adopt either it
small or large. Through the digital technology, retailing companies like Wilko Retail Ltd. In
manufacture, storage and other process of organisation (Thomas ed., 2011). Each company
should use various technology in their function and operations like pay process. Production
process, documentation process as well as marketing process of enterprise. Artificial Intelligence
is one of most impressive digital technique which is used yet that function entire function in
digital based.
Also not only even functional process but in marketing process, digital ethnology is
developing and majorly used techniques. Company should adopt modern marketing methods for
promotion and sales increments such as e-shopping, online details of products, online advertising
etc. These can avail in accessing wider term of information and costumer as well.
TASK 4
P7 Reflection
After making proper evaluation of the report, I have learned various important things
such as digital technology and advancements as well as their positive influence on
organisational activities. I have learned that digital technology not only help in development of
enterprise but also avail in entire innovation procedures that a company involve for production
and functioning of services ad products.
Despite of aspects of theories, I have learn to conduct a successful business project in
systematised and organised way. It lessoned me the method through which the organisation can
make proper and quick analysis of books and journals. This evaluation have taught me using
Gantt Chart and interpretation method in books and journals. Thus, now I know the methods of
effective and authentic research project.
CONCLUSION
It can be explained from the above report that through the help of digital technology an
organisation can enable expansion, growth and innovation in competitive industry. This can avail
in rendering creative ideas in regard of products and services as well as help in expanding the
business market of enterprise. A company should be use digital technology as it is more
16

effective, quicker and faster. Also despite of traditional marketing, the organisation can use
modern marketing tools for development and deploying reach to the audience.
17

REFERENCES
Books and journals
Awais Ahmad Tipu, S. and Manzoor Arain, F., 2011. Managing success factors in
entrepreneurial ventures: a behavioral approach. International Journal of
Entrepreneurial Behavior & Research. 17(5). pp.534-560.
Basu, R., 2014. Managing quality in projects: An empirical study. International journal of
project management. 32(1). pp.178-187.
Geraldi, J. and Lechter, T., 2012. Gantt charts revisited: A critical analysis of its roots and
implications to the management of projects today. International Journal of Managing
Projects in Business. 5(4). pp.578-594.
Harish, V. S. K. V. and Kumar, A., 2014. Demand side management in India: action plan,
policies and regulations. Renewable and Sustainable Energy Reviews. 33. pp.613-624.
Hwang, B. G. and Ng, W. J., 2013. Project management knowledge and skills for green
construction: Overcoming challenges. International Journal of Project Management.
31(2). pp.272-284.
Kowalkowski, C., Kindström, D. and Brehmer, P. O., 2011. Managing industrial service
offerings in global business markets. Journal of Business & Industrial Marketing. 26(3).
pp.181-192.
Leach, L. P., 2014. Critical chain project management. Artech House.
Marston, S. and et. al., 2011. Cloud computing—The business perspective. Decision support
systems. 51(1). pp.176-189.
Porwal, A. and Hewage, K. N., 2013. Building Information Modeling (BIM) partnering
framework for public construction projects. Automation in Construction. 31. pp.204-
214.
Ryan, L. and Campbell, N., 2012. Spreading the net: the multiple benefits of energy efficiency
improvements.
Sharon, A. and Dori, D., 2015. A Project–product model–based approach to planning work
breakdown structures of complex system projects. IEEE Systems Journal. 9(2). pp.366-
376.
Smith, W. K., Gonin, M. and Besharov, M. L., 2013. Managing social-business tensions: A
review and research agenda for social enterprise. Business Ethics Quarterly. 23(3).
pp.407-442.
Stoshikj, M., Kryvinska, N. and Strauss, C., 2014. Efficient managing of complex programs with
project management services. Global Journal of Flexible Systems Management. 15(1).
pp.25-38.
Thomas, M. ed., 2011. Deconstructing digital natives: Young people, technology, and the new
literacies. Taylor & Francis.
Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.
Viaene, S. and Van den Bunder, A., 2011. The secrets to managing business analytics projects.
MIT Sloan Management Review. 53(1). p.65.
Online
Digital strategy and capabilities to win in a digitized world. 2017. [Online]. Available through :
<https://www.strategyand.pwc.com/global/home/what-we-think/digitization/digital-
strategy-capabilities>.
18