Managing Successful Business Project - Assignment (Solved)

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Managing SuccessfulBusiness Projects
Table of ContentsINTRODUCTION..........................................................................................................................1TASK 1............................................................................................................................................1P 1 Project aims and objectives..................................................................................................1P 2 Project Management plan.....................................................................................................2P 3 Gantt chart &Work-breakdown-structure.............................................................................4TASK 2............................................................................................................................................6P4 Small scale research...............................................................................................................6TASK 3............................................................................................................................................8P5 Analysation of research..........................................................................................................8P 6 Recommendation................................................................................................................13TASK 4..........................................................................................................................................14P 7 Reflection............................................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES.............................................................................................................................16LOGBOOK....................................................................................................................................18
INTRODUCTIONCompetition is increasing day on day due to the introduction of large number ofcompanies in marketplace. Each and every business owner is trying to prove themselves better incomparison to their competitors. For doing same, they are implementing digital technologies atworkstation and attempting to increase their profitability along with productivity. The presentreport is describing the impact of digitisation on the growth and innovation of small and mediumsized companies (Geraldi and Lechter, 2012). In this context, Continental Consulting Limited isconsidered here and research has been carried on for determining the implications of moderntechnologies on their commerce. This venture was established 8 years ago for manufacturinglatest equipments, computers. They are also providing services associated with InformationTechnology (IT) at that time. Currently, firm is being headed by Mario Bindas who is at the postof Chief Executive Officer. The aim and objectives of this corporation is described in thisproject. For doing investigation, a proper project management plan is going to be framed byresearcher which will be covering aspects of cost, time, scope, risks, assets, quality andcommunication.TASK 1P 1 Project aims and objectivesTopic: “To determine the impact of social media on marketing activities and salesimprovement: A case study on Continental Consulting Limited”.Continental Consulting Limited is a popular organisation which is dealing with researchand business consultancy. This was working properly during the time of its establishment as theowner was developing modern instruments, computer, IT facilities. But afterwards, businessscenario changed dramatically and their manufactured products or services get outdated by thepassage of time (Hall, 2011). The world become completely modernised by the rapid growth oftechnologies and innovation. Although, Continental Consulting ltd. includes talented workerswho are having experience of more than 150 years, but they felt that their rivals are movingforward. It has been seen that various other companies are coming up with newer and innovativeideas which is a great challenge for them. Therefore, in order to hold a strong position in theindustry of IT, Continental Consulting Limited must have to upgrade their existing commercialprocesses. If they will not do so, they will remain backward, in-fact may lost their business1
forever. Hence, this is the responsibility of CEO to determine current necessities of firmassociated with information technology. In order to carry on similar work, Mario ordered'Deputy Head of Business Research' and 'Section Head' to start innovation for finding outrequirements of their business. In this context, necessary action should be taken by them forrenovating as well as upgrading the facilities of corporation so that they can give toughcompetition to their rivals. Thus, they started working together and created an aim as well asspecific objectives for the research that is listed below :Aim :“To determine the impact of Artificial Intelligence on production and salesimprovement : A case study on Continental Consulting Limited”.Objectives :To evaluate the importance of digitalisation in corporate world.To determine the influences of executing modern technologies on outcomes ofcorporation.To ascertain the impact of Artificial Intelligence upon the business activities ofContinental Consulting Limited.Research Questions :What is the significance of digital technology in business world ?What are the benefits of introducing Artificial Intelligence at Continental ConsultingLimited ?How to identify the impacts of Artificial Intelligence on production department inorganisation ?P 2 Project Management planIt is important to prepare an appropriate management scheme before implementing newtechniques. This will help in predicting several information regarding business such ascost, quality, scope, risky factors, communications, etc. These elements are considered assoul of the project since without determining facts about such components, SectionHead and Deputy Chief of business research may not be able to create a successfulbusiness project. The description about project management plan are following :Cost : This states the overall costing required for executing the project. Since company isgoing to introduce a new technology named as Artificial Intelligence, they need to decideproper calculation regrading entire expenses. According to researcher, average costs vary2
between $35'000-$100'000, relies on the size as well as complexity of total project(Harish and Kumar, 2014). At the same time, CEO of firm should focus on controllingextra expenditure so that they can afford this price. In past years, this has been seen thatpaper work was being used at workstation which is consuming high sum of money.Thereby, owner should leave this strategy by directing their staff members to work oncomputers. This would definitely save higher amount of revenue that can utilised for theimplementation of newer idea. In addition to this, lots of errors used to occur whilemanually working on papers. Therefore after introduction of modern tool, firm shouldfocus on using updated software such as Ms-excel, Spreadsheet, digital calculators, Ms -office & so on. It may assist in reducing faults and bringing error - free result. Besidesthis, time will also get saved since employees would begin working on PCs (i.e. Personalcomputers ).Scope : The scope of current project is extremely good as it is associated with digitaltechnologies andContinental Consulting Limitedis also dealing with IT products orservices. They can use this report for long time since this is covering impact of artificialintelligence upon the business activities. It is related to an innovative concept which iscurrently being used by most of IT firms. With the help of this technology, referredorganisation can develop unique commodities and services easily in minimum period oftime.Quality: This is a vital factor that should be considered by every venture while designingany project. Continental Consulting Limited ought to maintain good quality in itspreparation of a unique projection. If members working under similar task would notshow better presentation regarding quality, then it is obvious that they can't reach theirgoal of creating successful business project. Along with this, consumers may also getdissatisfied by the implementation of such a product whose standard is inappropriate.Communication : It is nothing but the action of transferring essential facts and figuresamong all participants performing in a group. In context to this plan, mentors or teamleaders of refereed company should communicate each and every information associatedwith determined scheme to all workers so that they become aware about similar data also.This will enhance the level of understanding of entire people who are going to work onthat. The reason for doing the same is that no one is familiar with new digital conception.3
Therefore, effectual communication needs to maintained within whole firm so thatpossibility of confusion may be reduced in efficacious manner.Risks : When implementation of newer strategy is carried on, the probability associatedwith occurrence of risk get increased drastically. This is risky to introduce ArtificialIntelligence atContinental Consulting Limited since owner had not applied such atechnology. But the number of contenders are rising day by day. It has been noticed thatthese firms are providing same services and products to target market. Thus, referredventure must have to face every risky factors that comes in the path of executing newbusiness plan. This digital technique will allow them to manufacture innovational goodsand facilities. It is to be noted that for detecting as well as handling hazards or risk, CEOshould create a risk hander team.Time : This is not an easy task to bring changes in existing business since large numberof obstacles may occur in way of modification. For example, some people would resistthe change as they find themselves uncomfortable in new environment. So, it is theresponsibility of section head to convince such personnels by making them consciousabout critical situation of their association (Kowalkowski, Kindström and Brehmer,2011). In this context, time frame of approx. 1 to 2 year would be consumed formanufacturing innovational products. Whereas for preparing suitable report, 2 to 3 weeksis sufficient.Resource : Some of the main resources needed for doing deep research on mentionedtopic are human resource i.e. workers, monetary value, technological assets, etc. Eachobjectives and aim can be accomplished with the assistance of these raw materials.Furthermore, in order to begin the task of investigation, primary as well as secondaryresearch should be done. Regrading this books, journals, internet, authorised web – links,interviews, etc. is treated as few more resources since these components may assist ingathering vital information related to report.P 3 Gantt chart &Work-breakdown-structureGantt chart help in carrying out research in an organised format. This shows arrangementof entire activities in graphical form which help in understanding implementation of projecteasily. On the another side, work break down structure is utilised for segmenting complicatedtask into small parts. This aid in knowing about responsibilities of each member. In addition to4
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