Understanding International Business & Entrepreneurship

This assignment delves into the multifaceted realm of international business, covering key aspects such as project risk management within a global context. It also examines the principles of entrepreneurship development and small business enterprise, emphasizing their significance in the dynamic world of international commerce. The provided readings offer valuable insights into various facets of these topics, contributing to a comprehensive understanding of how businesses operate and thrive on an international scale.

Project Management

TABLE OF CONTENTS
introduction....................................................................................................................................1
Activity 1.........................................................................................................................................1
1.1 Identification of the projects which will be needed to successfully carry out the relocation 1
1.2 Sub divisions and estimates of the resources needed to complete one of these projects.......2
Activity 2.........................................................................................................................................3
1.3 Describing and evaluating a suitable methodology for your chosen project.........................3
1.4 Assessing the feasibility of this project.................................................................................4
2.1 Structure for the management and administration of the project..........................................4
2.2 Defining the roles and responsibilities of staff who will manage this project.......................5
3.2 Job description and person specifications for a project manager..........................................5
ACTIVITY 3...................................................................................................................................6
2.3 Project plan............................................................................................................................6
ACTIVITY 4...................................................................................................................................9
3.1 Assessment of alternative project team structure..................................................................9
3.3 Designing of process for quality management of the project................................................9
3.4 Process to manage project change request...........................................................................10
ACTIVITY 5.................................................................................................................................11
4.1 Issues and risks that may impede a project..........................................................................11
4.2 Issues and risk likely to be encountered in the final stage of a project...............................12
4.3 Designing of monitoring and appraising the status of a project..........................................12
5.1 Detecting and managing issues arising in the course of projects........................................13
ACTIVITY 6................................................................................................................................13
5.2 Assessment of tasks needed to be completed in the final stages of a project......................13
CONCLUSION............................................................................................................................14
references.......................................................................................................................................15

TABLE OF FIGURES
Figure 1: Subdivision of the project................................................................................................2
Figure 2: Structure for management and administration for MIS project:......................................5
Figure 3: Gantt chart for MIS project..............................................................................................8
Figure 4: Network Diagram for MIS project...................................................................................8
Figure 5: Change management process.........................................................................................10
LIST OF TABLES
Table 1: Project plan for establishing a new MIS system for organization.....................................6
Table 2: Estimated duration for completing MIs project.................................................................8
Table 3: Alternative team structure.................................................................................................9
Table 4: Detecting and managing issues.......................................................................................13

INTRODUCTION
Managing different project is one of the complex task for each and every organization.
Application of knowledge and skills is one of the necessary requirement for accomplishing
different projects and attaining specific aim and objective of the organization. The current study
is based on project that will assist the relocation of the business from London to the Banbury,
Oxfordshire (Simmons, Bland and Wojciechowski, 2012). Reducing cost of the different
activities of the organization is the major aim of this project. The present research report will
include all major tasks which will be require to complete this relocation project. Regarding this,
study will use different project management tools and techniques. These tools will help in
developing appropriate plan for successfully carry out the relocation. It will also include suitable
methods for monitoring and evaluating the performance of project.
ACTIVITY 1
1.1 Identification of the projects which will be needed to successfully carry out the relocation
Given business scenario has reflected that organization is providing its consultancy
services in all over the world. It is operating its business with some specific consultants which
performs their task by home. But it has an administrative team of 10 members which handles
office functions in London (Ireland and et.al, 2011). But at present for reducing the total cost
organizations wants to relocate its business from London to Banbury, Oxfordshire. Associated
objectives with this move include increment in business by 10%, enhancement in profitability,
retention in business earning capacity, improvement in quality and information system and
reducing human resources (HR) cost, etc (Adeyoyin, 2005). Following projects can be carried
out by project manager to deliver the move to new premises:
 Expansion of the business at national and international level.
 Starting a new transaction processing system.
 Improving consultancy services by starting an office premises consultancy.
 New building project.
 Establishment of management information system (MIS)
 Total quality management system project
1 | P a g e

1.2 Sub divisions and estimates of the resources needed to complete one of these projects
As per the above discussed project development of the MIS system will be perfect project
for relocation purpose. Because it will fulfil the requirements of the organization. So, for
completing this project, manager needs to complete different activities therefore division of work
can help in managing project in effective manner (Charantimath, 2005). Work Breakdown
Structure (WBS) is an important tool for sub division which is as follows:
Subdivision of the project:
Figure 1: Subdivision of the project
Estimation of the resources:
2 | P a g e

There are number of resources which are required to complete this relocation project in
effective manner. Estimation of these projects are described as under:
 Time: Establishing MIS system in effective manner project manager will require
approximately 4 months.
 Human Resources: For relocating business organization wants to establish MIS system
which helps inn managing business operation from different location. As per the
subdivision of the project activities manager needs to recruit human resources with
different skills and knowledge. Organization will require system engineer, project
manager, quality analyst, financial manager and administrator, etc (Martin and Guerin,
2006).
 Technological resources: This project is relevant to the improvement in existing
information technology of the organization and required technical resources will
comprise computer system, software, hardware, internet system, etc.
 Financial resources: For changing existing system or implementing a new MIS
organization will require huge amount of money for purchasing new and latest
technologies. So, for this project, manager will require £100000 amount of money. For
gathering financial resources project manager can use different financial sources such as
bank loan and retained earnings, etc (Dey, Clegg and Bennett, 2010).
ACTIVITY 2
1.3 Describing and evaluating a suitable methodology for your chosen project
Prince 2 Methodology:
It is one of the important methodology for managing projects and allocating roles and
responsibilities and accomplishing all activities in effective manner. Prince2 focuses on
improving quality, monitoring and control of the project activities for attaining a specific
objective. It is one of the important methodology for managing informational technology based
projects. This methodology comprise 7 principles, process and themes which need to be followed
by a project manager for accomplishing a project. As per the 7 procedures MIS project needs to
follow some basic stages such as starting, initialisation, direction, controlling, management of
product delivery, management of stage boundaries and project closure. In addition, manager of
the organization needs to address the 7 basic themes such as objectives, organization, quality,
risk, plan, change and progress (Cavusgil and et.al, 2014). These will play importance role in
3 | P a g e

establishing MIS. According to this methodology project manager needs to follow the basic
principles of project management such as justification of the project, roles and responsibilities,
learn from experience, manager by exceptions, manage by stages, tailor to suite the environment
and focus on product/.
1.4 Assessing the feasibility of this project
Establishment of the MIS system is a feasible project for carry out relocation because it
will help in attaining aim and objectives in effective manner. MIS system will help in
determining the company’s strength and weakness which will provide an opportunity to improve
the business operations. Using this system managing director can analyse the whole picture of
the company. Along with this, it is a communication tool which helps in developing strong
communication with all employees and project team members. Including this, MIS play
significant role in promotion and marketing of the consultant services of the company which will
help in increasing profitability and total revenue of the organization. Further, it helps in gaining
competitive advantages also (Belohlavek, 2011). Further, it is an IT system development project
which will improve the IT system for the business and reduce the requirements of the human
resources for number of administration and data base management functions. Therefore, MIS
system is feasible because it will attain all objectives and satisfy all requirements in effective
manner.
2.1 Structure for the management and administration of the project
Management and organization structure will play very significant role in completion of
this project. It is essential for improving communication among team members which leads
completion of every task in appropriate manner. As per the estimated human resources flat
structure will be followed by the management and administration because it will reduce the
communication gap and helps in improving speed of the project completion (Chiu-Chi and et.al,
2013). Following structure will be followed by the project of MIS:
4 | P a g e

Figure 2: Structure for management and administration for MIS project:
2.2 Defining the roles and responsibilities of staff who will manage this project
Roles and responsibilities of project manager:
 Formulating aim and objectives and defining scope of the project.
 Developing a new plan for managing MIS project.
 Estimation and allocation of the resources which are required to complete this project.
 Project manager is accountable for assigning roles and responsibilities to each and every
personnel.
 Analysis and management of associated risks is also one of the major responsibility of
project manager of MIS project (Andersen, Dysvik and Vaagaasar, 2009).
 Manager of MIS project is accountable for measuring and evaluating overall performance
of the project as per the formulated objectives.
Overall, project manager is totally responsible for managing entire project and relocating
business of this organization in effective manner.
3.2 Job description and person specifications for a project manager
Job description of project manager will help in determining roles, responsibility of the
project manner. But on the other hand personal specification provides assistance in identifying
the needs and requirements which are required in a project manager to fulfil all the roles and
responsibilities (Darren, 2012). Job description of the project manager and persona specification
is described as under:
Company based in Center of London
Types of industry: Consultancy
Job designation: Project manager for managing relocation project
5 | P a g e

Location: Banbury
Reporting authority: Managing director
Roles and responsibilities: Accomplishing MIS project, allocating roles and responsibility to
team members, managing financial resources, communication, etc.
Last date for application: 30th June 2016
Interview date: 5th July 2016
Person Specification for project manager:
Educational qualification: Masters in project management
Employment conditions: Agreed to work in both shifts (8 hrs working)
Required demographics:
1. Age: 25 to 40 years
2. Gender: Male and female can apply
Skills and abilities: project management skills, leadership and management qualities, HR
management skill, team development skills, motivation and communication qualities, decision
making and problem solving attitude, etc.
Work experience: Minimum 3 years’ experience for working in the project management
domain.
ACTIVITY 3
2.3 Project plan
It is an important part of the project management which includes number of activities and
different tasks which are required for completing project in effective manner (Walker, 2007).
Project plan table for MIS project for completing relocating is given as under:
Table 1: Project plan for establishing a new MIS system for organization
WBS Task Name Duration Start Finish Predecessors
1 Establishment of MIS 72 days Mon 6/20/16 Tue 9/27/16
1.1 Planning 20 days Mon 6/20/16 Fri 7/15/16
1.1.1 Review of the existing
system 4 days Mon 6/20/16 Thu 6/23/16
6 | P a g e

1.1.2 Determining needs and
requirements 4 days Fri 6/24/16 Wed 6/29/16 3
1.1.3 Deciding project activities 5 days Thu 6/30/16 Wed 7/6/16 4
1.1.4 Estimation and allocation
of resources 5 days Thu 7/7/16 Wed 7/13/16 5
1.1.5 Development of team 2 days Thu 7/14/16 Fri 7/15/16 6
1.2 Implementation 9 days Mon 7/18/16 Thu 7/28/16
1.2.1 Implementing project plan 5 days Mon 7/18/16 Fri 7/22/16 5,7
1.2.2 Designing new database 4 days Mon 7/18/16 Thu 7/21/16 7
1.2.3 System process
development 5 days Fri 7/22/16 Thu 7/28/16 10
1.3 Testing 29 days Fri 7/29/16 Wed 9/7/16
1.3.1 Coding and testing 5 days Fri 7/29/16 Thu 8/4/16 9,11
1.3.2 Testing the MIIS system 7 days Fri 8/5/16 Mon 8/15/16 13
1.3.3 Installation process for
testing 10 days Tue 8/16/16 Mon 8/29/16 14
1.3.4 Feedback and review from
management 2 days Tue 8/30/16 Wed 8/31/16 4,15
1.3.5 Making changes for
necessary improvement 5 days Thu 9/1/16 Wed 9/7/16 16
1.4 Monitoring and controlling 12 days Thu 9/8/16 Fri 9/23/16
1.4.1 Measuring performance of
the company 5 days Thu 9/8/16 Wed 9/14/16 17
1.4.2 Comparing with the past
performance 5 days Thu 9/15/16 Wed 9/21/16 19
7 | P a g e

1.4.3 Developing report 2 days Thu 9/22/16 Fri 9/23/16 20
1.5 Project closure 2 days Mon 9/26/16 Tue 9/27/16
1.5.1 Documentation 2 days Mon 9/26/16 Tue 9/27/16 21
Figure 3: Gantt chart for MIS project
Figure 4: Network Diagram for MIS project
Critical path for this project:
Table 2: Estimated duration for completing MIs project
8 | P a g e

Critical path Critical Duration
3-4-5-6-7-10-11-13-14-15-16-17-19-20-21-23 72 Days
ACTIVITY 4
3.1 Assessment of alternative project team structure
As per the given business scenario project manager needs to take team members from the
administration team of the company. Therefore, assessment process has reflected that there are
number of problems with the existing team such as lack of skills and qualities, unable to
understand technical software, unsupportive management, etc. So, for resolving all these issues
project manager needs to develop an alternate project team structure which can manage the all
task and activities in case of emergence (Kourdi, 2010). Project manager needs to communicate
goals and objectives to each and every team member in advance basis. Therefore, alternative
team structure is as follows:
Table 3: Alternative team structure
Team members Roles and responsibilities
CEO of Consultancy Firm Approval for MIs project
Operation manager Managing different operations of MIs project
Technical staff Analysing technical requirement of MIS project
IT manager Updating existing information technology of the company
Project manager Managing different activities of the project and developing
project plan
Resource allocator Allocating resources on different activities
System developer and
maintenance
Coding for developing MIS system
Quality analyst Testing quality of the MIS
3.3 Designing of process for quality management of the project
Quality management process can be defined as a procedure which helps in improving
quality of team deliverables of MIs project. It plays important role in setting quality targets and
taking appropriate actions to improve quality of the project (Stibel, 2011). Quality management
process includes different stages such as performing quality assurance, undertaking quality
9 | P a g e

control, initiating quality improvement and implementing quality management. Quality
assurance plays important role in developing targets for managing quality in different operations.
Afterwards, project manager will conduct quality control. This stage helps in determining all
loop holes where project manager needs to improve quality. This process focuses on quality
improvement in which project manager takes appropriate actions to improve the existing
performance. Subsequently, project manager focuses on managing quality of project. Overall
quality management process play significant role in determining the major needs which are
required to fulfil for managing project (Kumar, 2008). This process will be beneficial for
attaining aim and objectives in effective manner and improves the reliability of the information
system which will play significant role in relocation of the project.
3.4 Process to manage project change request
Lewin's Change Management Model is one of the important tool for implementing and
managing changes in effective manner. It helps in implementing necessary improvements using
this concept such as unfreeze – change – refreeze.
Figure 5: Change management process
In this first stage project manager of MIS system will make appropriate arrangement for
accepting that changes which are required for improving performance. For example, project
manager wants to start on job training session for those employees who are not capable to
complete their roles and responsibilities. But screening process of these employees decline the
level of motivation. But this change is required for improving performance. But, after unfreezing
project manager needs to implement the necessary action which is required to resolve the issue.
After implementing changes manager needs to refreeze the situation for managing these changes
in effective manner (Levy, 2009). Therefore this change management process is effective for
managing necessary changes for improvement in quality.
10 | P a g e

ACTIVITY 5
4.1 Issues and risks that may impede a project
Each and every project is associated with some specific types of risks which may affect
the overall performance of MIS project. Some major risks and issues of this project is described
as under:
Issues
Technical issues: MIs system is related to the information
technology. So, project manager of this
organization may suffer from the different
technical issues such as inappropriate
technology and software, etc. technical fault,
etc., these problems can affect the entire
project in negative manner (Greasley, 2007).
Change management: Team members may resist to accept the change
which can decline the overall project progress
in negative manner.
Risks
Operational risk It is relevant to the allocation of roles and
resources because it may delay the project as
well as decline the overall quality level of MIs
system, it will have negative impact on
relocation process (Schiff, 2012).
Technological risks Technologies are changing day by day and it
leads increment in overall investment in
technical requirements of this system. It will
increase the total cost of the project. So, it is
also one of the major risk.
Financial risks For developing MIS system project manager
requires £10000 which is one of the big
11 | P a g e

amount. And company needs to take funds
from bank which may increase the total
financial cost in terms of interest.
4.2 Issues and risk likely to be encountered in the final stage of a project
Actions to encounter the above discussed issues and risks:
Technical issues For resolving technical; issue project manager needs to hire a technical
expert which have appropriate knowledge of MIS system and technical
failure and can take appropriate action to resolve these issues.
Change
management
For managing change management issues project manager needs to
communicate appropriate information to all employees about the
respective changes. Along with this, manager needs to communicate
benefits of changes also (Cervone, 2006).
Operational risk Manager needs to allocate roles and responsibility to each personnel as
per their skills and knowledge. Similarly, project manager assure about
the needs and requirements of task at the time of allocating resources
such as time and money, etc.
Technological risks Research and development and market research are major actions which
may help in getting information about the latest techniques which will
resolve issues of MIS.
Financial risks Project manager needs to select best option for obtaining funds such as
retained earning which will reduce the total cost.
4.3 Designing of monitoring and appraising the status of a project
Monitoring system of an organization plays important role in analysing the overall
performance of the MIS project. This system includes different tools and methods which are
described as under:
 Meetings: As per this tool project manager needs to arrange meetings with all team
members on regular basis which will help in monitoring progress of each and every
activity of MIS project.
12 | P a g e

 Documentation: Manager needs to instruct each and every team member to develop their
own records and document of each and every activity which have completed by them in
MIS project. Because it will also help in close monitoring of every task by which
manager can determine the issues (Belohlavek, 2011).
 Allocation of roles and responsibilities: After monitoring, project manager needs to
allocate roles and responsibilities as per the skills and knowledge of every employee. It
will help in appraising the status of MIS project.
5.1 Detecting and managing issues arising in the course of projects
Table 4: Detecting and managing issues
Issues Explanations Method to solve them
Lack of
resources
Project manager has faced issue of lack
of financial and human resources for
completing MIS project. It may delay the
entire project.
Needs to make appropriate
arrangement of resources.
Lack of skills
and knowledge
Available human resources do not have
appropriate skills and knowledge to
accomplish each and very task (Ireland
and et.al, 2011).
Training and development session
ACTIVITY 6
5.2 Assessment of tasks needed to be completed in the final stages of a project
 Analysing performance: Project manager needs to evaluate the project outcomes on the
basis of the formulated aim and objectives.
 Documentation: after developing MIS system project manager needs to record all
information about the project as a document. This must be include information about aim,
objectives, team members, resources, problems, risks and actions and overall
performance of the project.
 Project closer: After completing each and every activity project manager needs to close
this project by submitting the final MIS to respective organization (Charantimath, 2005).
13 | P a g e

CONCLUSION
As per the above report it can be concluded that establishment of MIS system is an
effective project for relocating business and attaining all aim and objectives in effective manner.
Author has used project management techniques such as project evaluation and review
technique, critical path analysis, Gantt chart, WBS for managing this project. These methods
have helped in improving performance in effective manner.
14 | P a g e

REFERENCES
Books and journals
Adeyoyin, O. S., 2005. Strategic planning for marketing library services. Library Management.
269(9). pp.494–507.
Andersen, S. E., Dysvik, A. and Vaagaasar, L. A., 2009. Organizational rationality and project
management. International Journal of Managing Projects in Business. 2(4). pp.479 –
498.
Belohlavek, P., 2011. Unicist Business Strategy. Blue Eagle Group.
Cavusgil, S.T. and et.al, 2014. International business. Pearson Australia.
Cervone, F. H., 2006. Project risk management. OCLC Systems & Services. 22(4). pp.256 – 262.
Charantimath, P. M., 2005. Entrepreneurship Development and Small Business Enterprise.
Pearson Education.
Chiu-Chi, W. and et.al, 2013. Assignment of project members considering capability and
personality balance. Kybernetes. 42(7).Pp.1016 - 1028.
Darren, D., 2012. The nature of project management: A reflection on The Anatomy of Major
Projects by Morris and Hough. International Journal of Managing Projects in Business.
5(4). Pp. 643 - 660.
Dey, K. P., Clegg, T., and Bennett, J. D., 2010. Managing enterprise resource planning projects.
Business Process Management Journal. 16(2). pp.282 – 296.
Greasley, A., 2007. Operations Management. SAGE.
Ireland, D. R. and et.al., 2011. Understanding Business Strategy Concepts Plus. 3rd ed. Cengage
Learning.
Kourdi, J., 2010. Business Strategy: A Guide to Effective Decision-making. Profile Books.
Kumar, S. A., 2008. Small Business and Entrepreneurship. I. K. International Pvt Ltd.
Levy, B., 2009. Legal Project Management: Control Costs, Meet Schedules. Manage Risks, and
Maintain Sanity.
Martin, S. C., and Guerin, A. D., 2006. Using research to inform design solutions. Jou rnal of
Facilities Management. 4(3). pp.167 – 180.
Simmons, B., Bland, J. M. and Wojciechowski, B., 2012. Kaplan AP Statistics. Kaplan
Publishing.
Walker, A., 2007. Project Management in Construction. Wiley.
15 | P a g e