MANAGING SUPERCCESSFUL BUSINESS PROJECTS TABLE OF CONTENTS INTRODUCTION 1 LO 1 1 P1. Project Management Plan 2 P3. Work Breakdown Structure and Gantt Chart 4 LO 2 6 P5
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Added on 2020-10-05
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Present assessment will highlight the aim and objectives of this project and develop a project management plan which will cover all the different aspects, such as, cost, scope, time, quality, communication, risk, and resources that is required for the completion of this project. For Continental Consulting Limited, this technology has dramatically changed the traditional business models and transformed business activities to a new level.This has enabled existing products to become more profitable for the organization and develop innovative and new products which will lead to increase
MANAGING SUPERCCESSFUL BUSINESS PROJECTS TABLE OF CONTENTS INTRODUCTION 1 LO 1 1 P1. Project Management Plan 2 P3. Work Breakdown Structure and Gantt Chart 4 LO 2 6 P5
Added on 2020-10-05
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MANAGING SUCCESSFULBUSINESS PROJECTS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1. Aim and Objectives of the project....................................................................................1P2. Producing a Project Management Plan............................................................................2P3. Work Breakdown Structure (WBS) and Gantt chart........................................................4LO 2.................................................................................................................................................6P4. Qualitative and quantitative research methods for achieving project aims and objectives6LO 3...............................................................................................................................................10P5. Analyse research and data using appropriate tools and techniques...............................10P6. Appropriate recommendations on the basis of research and data analysis...................17LO 4...............................................................................................................................................17P7. Reflective on the value of undertaking this research.....................................................17CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTIONManaging business project effectively can have a huge positive impact on theirperformance, as it will help them in improving their work. This report will focus on topic- “Toinvestigate the influence of Artificial Intelligence and Big data Analysis on innovation as well asproduct growth”. As digital technology plays an important role in any business in making itsuccessful in industry, it becomes very essential for Continental Consulting Limited to study theeffect of this technology on their performance. Present assessment will highlight the aim andobjectives of this project and develop a project management plan which will cover all thedifferent aspects, such as, cost, scope,time, quality, communication, risk, and resources that isrequired for the completion of this project. Work breakdown structure and Gantt chart will beproduced on the basis of this management plan. Apart from this qualitative and quantitativeresearch methods and communication for appropriate recommendations will be addressed aswell. LO 1P1. Aim and Objectives of the projectFor small business it is very important to implement all the latest technology which ispresent in industry in order to improve their services and performance as well. Businesstechnology helps small businesses improve their communication processes. ArtificialIntelligence and Big data Analysis are the two most important factor which can help theorganization in driving innovation and product growth for their services. As being innovativewill assist them in increasing their overall sales and production in market (Hillson, 2017). Thesetwo technologies helps business in making intelligent decisions based on past businessknowledge. With the invention of new technologies in world the scope and future of artificialintelligence has been transformed significantly. This will also help the organization in generatinga good revenue and profit from their business. Digital technology has revolutionised the way any business activity is conducted. Overthe last decade, this technology has dramatically changed the traditional business models andtransformed business activities to a new level. This has enabled existing products to becomemore profitable for the organization and develop innovative and new products which will lead toincrease diverse product portfolios for them. Its impact is evident at the core of all key business1
systems for Continental Consulting Limited, such as, in administration, in communication, inproduction, etc.With the help of artificial intelligence and big data analytics it will become easier for theorganization to process and analyse the large data sets of firm in order to discover meaningfulpatterns, trends, and associations that facilitate business decisions (Cha, Newman and Winch,2018). There is a huge advantage of both these technologies in organization, such as,It will help Continental Consulting Limited to increase their computational power,These will provide them low-cost and highly reliable large-scale memory devices,It will assist in Open-source programming languages and platforms, etc (ArtificialIntelligence and Big Data: A Perfect Match, 2018).Main aim and objectives of this project through which Continental Consulting Limitedcan achieve their targets are explained below:Aim: To investigate the influence of Artificial Intelligence and Big data Analysis oninnovation as well as product growth- A Case study on “Continental Consulting Limited”Objectives: These are as follows:To develop understanding about modern digital technological aspects (AI and BDA) inthe present era.To assess the significance of Big data Analysis and Artificial Intelligence in the productgrowth of Continental Consulting Limited.To assess the influence of artificial intelligence and big data analysis in the new servicedevelopment of Continental Consulting Limited. To recommend new technologies to Continental Consulting Limited for improvement inproduction in Continental Consulting Limited.P2. Producing a Project Management PlanGood management plan is very important for any organization in order to effectivelymanage their project work and to understand them properly. Project management plans are thosewhich helps in achieving their targets and objectives in proper manner. It includes various plansand strategies that will be implemented by Continental Consulting Limited (Baumann and et.al.,2015). There are various factors which is included in this plan, such as, cost, scope, time, quality,communication, risk, and human resources, which needs to be considered while planning. When2
creating a plan, the project manager must think ahead of time on all the activities to carry thistask step by step. Various aspects of this project management plan is explained in detail below:Cost: For any project to become successful it is very important to evaluate the overallcost that is required for the completion of project effectively. It is that estimation ofamount which company will require for the plan. For Continental Consulting Limited it isessential to manage it carefully in spending their money on factors, such as, labour cost,resources that is required in the project, material bills, etc. to complete the projectsuccessfully. Managing the overall cost in the project helps them in implementing theirwork with efficiency (Jeston, 2014). Scope: Digital technology can help any business to increase their sales and productionsand to improve their performance as well. Implementing technologies like, artificialintelligence and big data analysis, can help Continental Consulting Limited to enhancetheir brand value in industry. This can provide them a huge advantage, such as, it will bevery helpful for them in producing new and innovative products and to also increase theirproduct growth as well. The main scope of these technologies are that, it assists inenhancing overall sales and productivity.Time: For any effective project, it is essential to complete all the desired task in giventime frame as this will ensure that their work is going properly (Sharon and Dori, 2017).It is very important for the manager and for employees as well to manage their work inorder to complete their task on time. Time taken for completing this project is 21 days,which has to be managed effectively by the organization. Quality: To implement technologies in organization, it has a huge significance that theyhave to check the quality of their work which is being performed in ContinentalConsulting Limited for this project. This help them in enhancing their overall workingperformance which ultimately will affect their sales and production. Proper monitoringshould be performed by them in order to check their quality. Communication: For any organization, it is very essential to have effectivecommunication between their management team and employees. This will ensure thattheir work is going smooth and proper. This process is also helpful in interacting witheach other and to share their ideas a swell. Having a good communication between each3
employee in an organization helps in maintaining the environment of the organizationeffectively. RiskManagement: Continental Consulting Limited has to be very careful inimplementing these technologies in their system. For organization it is essential toanalyse all the factors which can affect their project in order to minimize the impact ofrisk for them (Dansoh, Frimpong and Oteng, 2017). To effectively managing the risk,Continental Consulting Limited has to plan some strategies which can be very useful forthem in addressing risk. Having proper strategies is a good idea in order to reduce the riskfactor. Resource: These plays an important role in any organization. Resources are those whichis required by firm in order to complete any task successfully. For implementing artificialintelligence and big data analysis in organization, it is essential for them to have effectivehuman resource team which can manage their project properly and can also help them inrecruiting trained and skilled workers for them foe improving or enhancing their workperformances as well (Kerzner and Kerzner, 2017). P3. Work Breakdown Structure (WBS) and Gantt chartOperational activities of the firm must be concerned which can define activities underseveral tasks as well as time frames. Moreover, Continental Consulting Limited will bebeneficial in analyzing business operational requirements and management of tasks that will leadin executing each task (Work breakdown structure, 2018). Therefore, it has been estimated byprofessionals for the completion of this project; there will be a requirement of 21 days. 4
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