Managing Successful Business Project

Managing Successful
business project

Table of Contents
TITLE -............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives of this study..........................................................................................1
P2) Project Management Plan.....................................................................................................3
P3 Work breakdown structure and Gantt chart...........................................................................4
TASK 2............................................................................................................................................6
P4 Application of quantitative and qualitative tools for data collection....................................6
TASK 3............................................................................................................................................8
P5 Analysis of research and data using appropriate methods.....................................................8
TASK 4..........................................................................................................................................14
P6) Appropriate recommendations as a result of research and data analysis to draw valid and
meaningful conclusions.............................................................................................................14
P7 Self- reflection of the work undertaken. .............................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

TITLE -
“The impact of digital technology supporting small business growth and innovation”
INTRODUCTION
Innovations in digital technologies plays a crucial role in growth and progression of
business associations at marketplace. In this over dynamic corporative environment, the prime
motive of all firms is to obtain maximum profitability by generating new and innovative products
which enables to capture customers' eye. Digitalisation has transformed overall organisational
cultural and working styles of firms thus make them to attain desired goals and objectives
(Sullivan, 2017). In this assignment, Continental Consulting Limited is a referred association
which is a business and research consultancy firm owned/managed by Mario Bindas. In order to
improvise quality of services, the firm is using digital tools and techniques at workplace. Apart
from this, the report contains study about aims and objectives of project and factors which must
be consider in project management plan. A small scale research will also carry out by using
qualitative and quantitative methods to get appropriate data on specific area of concern and
interpret it. Furthermore, various recommendations will be also given that helps researcher to
arrive at better conclusion.
TASK 1
P1 Aims and objectives of this study
Every large and small business entity is established in order to obtain higher profits and
market success. For this purpose, they apply several tools and techniques. In this era of
digitalisation, it has become fundamental for small associations to acquire digital equipments in
their working processes so as to ensure long term survival at marketplace. Due to fierce
competition, small businesses tend towards replacing their traditional production methods by
digital technologies. Therefore, selection of effective or adequate digital tools will help SMEs to
boost up functionality and operational areas so as to sustain competitive position at market place.
Diverse sorts of technology are being evolved in markets and corporations avail to get such
benefits. Innovation contribute within organisations to include something new in their products
and gain better outcomes (Sople, 2016).
Artificial Intelligence is one of the significant part of digitalisation which focuses on
creating intelligent machines which acts as human beings. It is a vital part of technology industry
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and branch of computer science; as the maim motive of every business is to raise its sales and
profit margins. In this manner, adoption of artificial intelligence aids an economy or firm to offer
unique products which gives shape to innovation process of the company. In other words,
applications of artificial intelligence which can readily take their own decisions without human
interruption apply intelligence to resolve multiple issues or functional areas. Many businesses
uses AI in order to facilitate their functional areas and gain high productivity.
Title of the Research: “The impact of digital technology supporting small business
growth and innovation”. A case study on Continental Consulting Limited.
Background of the project -
In present market, competition is on its peak thus it is foremost responsibility of company
to always upgrade themselves with new technologies and innovations to gain high defensible
edge. Nowadays, artificial intelligence also enables firms to work more faster and smarter way.
Advancements in technology in society, firms are looking powerful as well as sophisticated
solutions in order to boost up and streamline operations. Along with this, Artificial intelligence is
capable of automating business intelligence and analytics processes, providing a holistic as well
as end-to-end solution (Roehrich, Hoejmose and Overland, 2017). The referred small business
Continental Consulting Limited is also focusing on applying innovative techniques in its
processes thus to deliver satisfactory goods and services to target audiences. As per the IT needs
of the company, Artificial Intelligence will take place to automate back end processes and
knowledge management.
Research Aim: “To determine the impact of Artificial Intelligence on productivity and
growth of business organisation. A case study on Continental Consulting Limited”.
Research Objectives:
 To analyse the importance of innovation in the growth of small business enterprises.
 To study the role of Artificial Intelligence within an organisation. To ascertain the interrelationship between Artificial intelligence and business growth.
Research Questions:
 What is the significance of innovation in growth of SMEs?
 What is the role of Artificial intelligence in Continental Consulting Limited?
 What is the relationship between Artificial intelligence and business growth?
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P2) Project Management Plan
Formulating an adequate and systematic project management plan aids companies to
obtain growth and success of a project. A project management plan entails with planning,
controlling and executing working activities thus to accomplish any project properly. It is
essential for project managers to design an effective blueprint of their subordinates as they work
accordingly (Pot, 2011). In present scenario, Continental Consulting project is focusing on
applying digital technology in its working processes and operations; thus management has
decided to apply Artificial intelligence in their working processes as it will save time and money
by automating routine processes and tasks. AI also raise operational efficiencies and productivity
thus business can make faster decisions relies upon outputs from cognitive technologies. There
are different components that must be considered while preparing a project management, such
are stated as under -
Cost – It is one of the most effective factor which supports to build an effective project
management plan. As an SME, Continental Consulting limited needs to ensure about sufficient
availability of funds or capital which will be required to implement the project. Project costs help
manager to determine how amount will be required to accomplish all project activities in best
possible manner. The overall cost of project is evaluated 1 million euros but right now firm does
not have that large amount of capital thus it has decided to obtain future amount from bank loans.
Scope – Each business project execute for a specific reason and enable to deliver huge
benefits to company. The referred firm is going to apply digital technology in its processes which
will improve operational area and quality of products. It also helps in increasing sales and
profitability of company by achieving project aims and objectives (Garrison, Wakefield and Kim,
2015).
Time – It is being apportioned by management thus to pitching all tasks and activities on
or before their time period. The given time period for this project is six month and thus project
manager should assure that entire operations of the project must accomplish in that time.
Henceforth, a time schedule has been prepared by Continental Consulting limited that provides
guidance to employees to work accordingly.
Communication – This factors consists with while doing project activities, managers and
employees both have open communication regarding any topic or problem. Free flow of
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communication aids to exchange all ideas and thought thus to improve capacity and reliability of
project. Two way communication at workplace generate motivational factor among employees
and they work to end goal of the company.
Risk – Numerous sort of hazardous factors append in a venture while applying digital
technology in working activities. One of the main risk related with AI is, i.e. creation of smart
technologies can be expensive, due to their complex nature and the need for repair and ongoing
maintenance. Another risk can be linked with integration challenges and lack of understanding of
the state-of-the-art systems.
Resources and Quality – Proper allocation of resources in project management plan is
another crucial factor. It is the warm duty of project manager to acquire necessary resources, i.e.
human resources, finance, technological and physical so that the whole project can be conducted
in a proper manner(Agnihotri and et. al., 2012). For example – well skilled and technical
specialists are required in execution of AI. On the other hand, project quality also must be
accurate and enable to provide high market growth to a business organisation.
P3 Work breakdown structure and Gantt chart
Project management is essential activity which each and every organisation require to
conduct to utilise resources and manage activities to timely accomplish its program/ projects. It
is necessary that management of Continental Consulting Limited uses appropriate tools and
techniques to complete activities within defined time. Gantt chart and Work break down
structure are two effective tool which help superior to frame plan to organise operations in
systematic manner. Thus, company attain project and able to sustain its position and market
share.
Work Breakdown structure- As per, Project Management Body of Knowledge
(PMBOK) it refers to procedure which is used by superior to manage large projects by dividing
activities into small tasks which are easily manageable. This tool comprises activity about
defining project work and formulation of structure in respect to work, time duration and
expenses for each task. This help company to use resources in efficient manner. It is appropriate
technique which benefit Continental Consulting Limited to provide consultancy services to small
firms so as to make them perform tasks effectively. Along this, project manager is also able to
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