Project Management and Business Performance

This assignment delves into the relationship between project management and business performance. It examines various project appraisal methods, including traditional tools like Net Present Value (NPV) and Internal Rate of Return (IRR), alongside more modern approaches like Critical Chain Project Management. The assignment also discusses the evaluation of collaborative governance regimes and their impact on productivity. Students are tasked with analyzing case studies, applying relevant theories, and demonstrating a comprehensive understanding of how effective project management can contribute to enhanced business outcomes.

Improving Business Performance
1

Executive Summary
Now a days, each organization places emphasis on framing the operational strategy with the
aim to get the desired outcome or success. By framing the operational strategy business unit is able
to make effective use of the resources to the significant level. For this report ZZA Accountancy is
selected who provides tax refund, self assessment, translation and bankruptcy services to the
customers. ZZA Accountancy is facing 3 problems such as lack of online service, customer waiting
time and software program which may cause of declining the productivity and profitability aspects.
On the basis of investment appraisal techniques it can be summarized that business unit needs to
develop online website which is financially more liable for the project. Further, business unit needs
to undertake continuous improvement and radical change strategy which will help business
enterprise in achieving success in the dynamic business arena.
2

Contents
INTRODUCTION ...............................................................................................................................4
TASK 1.................................................................................................................................................4
Introduction of the organization.......................................................................................................4
TASK 2.................................................................................................................................................4
Stating the three changes to the operational problem......................................................................4
TASK 3.................................................................................................................................................5
Literature review on the investment appraisal techniques...............................................................5
TASK 4.................................................................................................................................................6
Calculating and evaluating the 3 options ........................................................................................6
TASK 5 ..............................................................................................................................................10
Literature on Radical change (RC) and Continuous improvement (CI)........................................10
TASK 6...............................................................................................................................................11
Evaluating change and using CI or RC approach .........................................................................11
TASK 7...............................................................................................................................................11
Constructing draft plan .................................................................................................................11
TASK 8...............................................................................................................................................12
Literature on project risk and identifying the risk factors ............................................................12
TASK 9...............................................................................................................................................12
Evaluating the draft project............................................................................................................12
TASK 10.............................................................................................................................................12
Modified draft plan .......................................................................................................................12
............................................................................................................................................................18
............................................................................................................................................................19
appendix ............................................................................................................................................19
References..........................................................................................................................................20
3

INTRODUCTION
Business organization makes use of operational strategy which helps them in getting the
desired outcome or success. Operational strategy defines the ways in which company will employ
and make use of the resources for producing the product or services (Understanding operations
management, 2016). In the present era, business enterprise frames operational strategy which helps
them in making optimum use of resources, personnel and work process. Thus, by preparing suitable
operational strategy which supports the corporate aspects business unit is able to make
improvement in their business performance to the large extent. Moreover, this strategy provides
deeper insight about the areas which company need to improve. Thus, by identifying this aspect
corporation is able to achieve success in the strategic business arena. For this project report report,
ZZA Accountancy is selected as an organization.
TASK 1
Introduction of the organization
ZZA Accountancy is the small sized business organization which established in 2009. It is
self employed firm who serve approximately 200 customers. This accountancy firm offers wide
range of services to the customers who include self assessment, tax refund, divorces, benefits,
translation and bankruptcy etc. The profitability aspect of the company is constant because gross
margin of the accountancy firm is not increasing with the very high pace. Besides this, the process
which is followed by ZZA Accountancy is highly stable.
TASK 2
Stating the three changes to the operational problem
ZZA Accountancy offers variety of services to their customers but still profitability aspect of
the business unit is not very high. It indicates that company needs to make changes in its operation
strategies and other aspects. Thus, by conducting investigation Accountancy firm has identified
there are mainly three problems which might cause of sloe growth in profitability aspect are
enumerated below:
 Online website: From investigation it has been identifying that ZZA Accountancy needs to
develop its online website. Moreover, due to the absence online services customers cannot
contact with the business unit through the means of internet. Besides this, customers are not
able to get information or service through online. This aspect closely affects the convenience
of the customers to the large extent. Now, each person has smart and they make use of
internet. Hence, customers prefer to make use of the services of firm who offers high level
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of convenience to them (Ramani, 2016). In order to overcome this problem company needs
to develop effective and attractive website. Through this, Accountancy firm is able to make
interaction with the large number of customers. It also offers opportunity to the business unit
to serve the large number of customers. Thus, this strategy will provide assistance to the
firm in enhancing their productivity and profitability.
 Company is required to hire 2 employees: The problem which is facing by the accountancy
firm is the more waiting time of the staff. In the present time, customers do not want to wait
for the long time. High waiting time is one the main factors which closely affect his
satisfaction level of customers and hereby negatively hamper the gross margin of the firm.
ZZA accountancy is facing this problem because they have very short staff as only one
people who offers the services to the customers. Hence, business unit needs to employ two
employees which enable them to quick or faster services to the customers. It also enables
firm to serve more customers at one time. Hence, by offering the faster services small sized
business unit is able evolve satisfaction among the customers which may turn into loyalty in
the near future. Further, when company serves more customers then it may also result into
high profitability.
 Software operations: ZZA Accountancy also needs to employ latest software which helps
them in resolving the problems or issue within the suitable time frame. Moreover, when
business unit takes longer time to resolve the issues then it closely influence the satisfaction
of the customers. Word of mouth publicity of the firm is also affected when company makes
fails to offer suitable solution within the suitable timer frame. Thus, by offering the solution
more quickly Accountancy firm is able to attract the large number of customers. It enables
firm to maximize their sales and profitability aspects.
According to the Hayes & Wheelwright model ZZA accountancy lies in the maturity phase.
Moreover, in this company needs to make changes in their operational strategy which helps them in
attaining competitive edge over others. Through this, business unit is able to convert maturity phase
into the rapid growth.
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(Source:Kerzner, 2013)
6

TASK 3
Literature review on the investment appraisal techniques
Business organization can evaluate the viability or suitability of change by employing
different investment appraisal methods are as under:
Investment appraisal methods
 Pay back period: According to the view points of Hoerl and Snee (2012) payback period
method of capital budgeting provides deeper insight about the time frame within which
business unit is get back the initial investment. Easy to calculate is one the main attributes of
this method which encourage manager to make use of this method. Besides this, it helps
company in identifying the time after which they are able to make profit. However, it is to
be critically evaluated by Molnau (2014) that it only entails the time period within which
company is able get initial investment. Nevertheless, it does not provide information about
the cash flow which is generated by the firm during the suitable time frame. Besides this, it
does not undertake time value of money concept which also limits the significance of this
method.
 Net present value: Ramani (2016) said that net present value method offers highly realistic
outcome because it considers time value of money concept. This method of investment
appraisal serves information about the return which business unit will get after the
predetermined time frame. However, Baum and Crosby (2014) argued that it is highly
difficult for the investment manager to undertake suitable discounting factor for the
computation. If manager fails to employ suitable factor then this method will offer highly
biased results.
 Performance matrix: As per the view points of Upton, J. and et.al., performance matrix helps
organization in evaluating the performance and activities of project. This metrics helps in
supporting the needs of the wide range of stakeholders from customers, investors or
shareholders to employees. Safety, time, cost, resources, scope, actions and quality are the
seven parameters which assists in evaluating the project to the significant level. This
statement has been contradicted by Stevanović and Pucar (2012) that these parameters
which are undertaken by the experts have less value or importance as compared to the
mathematical tools or techniques.
 SAFE criteria: In accordance with the view points of Dyson and Berry (2014) Safe criteria is
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usually employed by the firm with the aim to evaluate the feasibility, suitability and
acceptability of the project. By taking into account this criteria business unit is able to
assess the risks which are associated with the particular project. Besides this, it also provides
information about the performance of particular project or option.
TASK 4
Calculating and evaluating the 3 options
Investment appraisal techniques are adopted by the business unit for assessing the viability
or profitability of project. Payback, net present value as well as ARR is the most effectual tool
which helps manager in making most suitable and effective decision making. Net present value
undertakes time value of money concept. Thus, if assists ZZA accountant in making most viable
decision.
Computation of payback period and net present value of the three projects are as follows:
Project 1:
Years Project A
Cumulati
ve cash
inflow PV factor @10% Present value
0 (Initial investment) -4000 0.909
1 3000 -1000 0.826 2478
2 5000 4000 0.751 3755
3 6500 10500 0.683 4440
Total discounted cash
inflow 10673
NPV (Total discounted cash
inflow – initial investment) 6673
Payback period: 1+ 1000 / 5000
= 1+.02
= 1.02 years
Project 2:
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Project
B
Cumul
ative
cash
inflow PV factor @10% Present value
0 (Initial
investment) -12000
1 5000 -7000 0.826 4130
2 5500 -1500 0.751 4131
3 6000 4500 0.683 4098
Total
discounted
cash inflow 12359
NPV (Total
discounted
cash inflow –
initial
investment) 359
Payback period: 2 + 1500 / 6000
= 2+.25
= 2.25 years
Project 3:
Year
Project
C
Cumul
ative
cash
inflow PV factor @10% Present value
0 (Initial
investment) -1000
1 1200 200 0.826 991.2
2 2000 2200 0.751 1502
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Total
discounted
cash inflow 2493.2
NPV (Total
discounted
cash inflow –
initial
investment) 1493.2
Payback period: .83 year
Performance Metrics
Performance
parameters
Project 1 (Online
website)
Project 2 (recruiting 2
employees)
Project 3 (Software
operations)
Safety 7 3 3
Time 8 4 7
Cost 9 7 5
Resources 8 4 4
Scope 8 7 6
Quality 7 5 4
Accuracy 7 4 3
Total 54 34 32
SAFE criteria
Suitability Acceptability Feasibility Rank
Improvement
option 1 (Online
website)
Yes Yes
No Yes
Improvement
option 2
(recruiting 2
employees)
No No No No
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Improvement
option 3 (Software
operations)
No No No No
Summary table
Payback
period
Net present
value
Performance
Metrics
SAFE criteria Rank
Improvement
option 1
1.02 years or 1
year and 2
months
Yes Yes Yes Yes
Improvement
option 2
2.25 years or 2
years and 2
months
No No No No
Improvement
option 3
.83 year or 8
months
No No No No
On the basis of the above mentioned analysis it has been assessed that project or option 1
proves to be more fruitful for the business organization. Option is more viable or feasible according
to the outcomes of investment appraisal tools, performance metrics and SAFE criteria. Thus, ZZA
Accountancy firm needs to develop website which enables them to offer services to the customers
via online. This option or project will make remarkable contribution in the sales and profit margin
of the business organization.
Methods Reason for selection Benefits Drawbacks
Payback period In this, Accountancy
firm is able to recover
the initial investment
within 1 year and 2
months.
It helps in framing the
competent strategic
framework by
providing information
about the time which
business unit is able to
recover their initial
investment.
It does not consider
time value of money
concept which is one of
the main drawbacks of
this method.
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Net present value
(NPV)
NEPV of option A is
higher as compared to
the rest of options
available.
This methods offer
highly suitable results
by taking into account
the time value of
money concept.
This method does not
make any
differentiation between
the proposals which are
available to the
business unit.
Performance Metrics Project will offer high
level of support to the
business enterprises.
It offers different
framework which helps
in evaluating the
project in an effectual
manner.
This metrics only place
emphasis on
performance rather than
other aspects.
SAFE criteria This project is safe
because it has lower
level of risk.
This criteria helps in
assessing the
suitability, acceptability
and feasibility of the
project in an effective
manner.
It makes analysis of
particular option which
limits the significance
of this method.
TASK 5
Literature on Radical change (RC) and Continuous improvement (CI)
Continuous improvement: According to the view point of Kerzner (2013) continuous improvement
is the ongoing process in which business unit continuously makes effort to improve the product or
services which are offered by them. Usually, business organization continuously examines their
process and activities with the aim to identify and eliminate the problems. Through this, company
can easily identify and grab the opportunities which are available at marketplace. In addition to
this, it also helps business enterprise in framing the cost effectual strategies and policies which
make contribution in the attainment of organizational goals and objectives. However, it is to be
critically evaluated by Burke (2013) that for making continuous improvement company has to incur
huge expenses which impose high level of cost in front of it. Thus, it is not an going process,
business organization undertakes it on a periodical basis.
Radical change: As per the view points of Walker (2015) in radical change employees of the
business organization react in different manner towards the changing methods or approaches. In
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this, change occurs in a highly dramatic manner within the business unit. Usually, company brings
change within the working environment with the aim to attain success in the strategic business
arena. However, Leach (2014) argued that usually employees do not easily accept the change
which is carried out the organization. This aspect closely hampers the growth and success of the
business unit to the great level. Emerson, K. and Nabatchi (2015) claimed that business unit can
bring change in the best possible manner by involving personnel in the decision making process.
Besides this, by encouraging and communicating the benefits company can make desired changes
within the business unit.
TASK 6
Evaluating change and using CI or RC approach
From the secondary data analysis it has been analyzed that ZZA Accountancy needs to
adopt continuous improvement or integration strategy. It will offer high level of benefits to the
business organization in terms of high growth in the sales and profit. In order to resolve the issue of
lack of customer interaction and convenience Accountancy firm needs to develop website which
provides chance to them in relation to the serving of wide customer group or segment. In this,
continuous improvement is required.
By making examination of this strategy on a daily basis company is able to make assessment
of the problems which are facing by the business unit and the customers. Through this,
Accountancy firm is able to make improvement in the online delivery process which aid in the
growth and profitability aspect of it. Thus, by making use of technological advancement company is
able to build distinct image in the mind of target market. However, it is to critically evaluated that
for making improvement on a continuous basis Accountancy firm requires highly skilled and
efficient personnel. Thus, salary of the personnel and examination cost also creates financial burden
in front of the firm.
TASK 7
Constructing draft plan
According to the Project Management Institute, ''project management is the application of
knowledge, skills, tools and techniques which are required for the accomplishment of project''.
There are mainly dour phases which are adopted by the manager for managing the project namely
initiation, planning, implementation, performance control and the closure of project (Project
management, 2016).
Draft plan is mentioned in appendix.
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Steps of project management: Manager of ZZA Accountancy has adopted following phases to
manage the project in an effectual manner are as under: Project conception or initiation: In the very first step, project manager has decided to
develop the online website which is highly feasible according to the investment appraisal
analysis. Planning: Once conception about the plan has developed thereafter project manager frames
activities and sub task which helps them in developing the websites in the best possible way. Execution of project: At this stage, project manager introduces website which will offer
accountancy and other services to customers through the means of internet. Project performance and control: After execution, project manager monitoring of the
websites to assess the deficiencies. Besides this, ZZA accountancy also places emphasis on
taking feedback from the customers. It provides deeper insight to the manager about the
problems which are facing by the customers. On the basis of this aspect, manager is become
able to undertake corrective measure within the suitable time frame.
 Closure of the project: At the last step of project management, manager executes the
required changes and close the project.
Description of the activities:
 Plan needs: In this, online site development need has identified by the manager by
consulting with the colleagues and customers. For this purpose, manager collects and
analyze the primary and secondary data which helps them in taking strategic more
effectively.
 Placing order for the equipment: At this, manager makes assessment of the equipment
which helps them in developing the site in an effectual manner. In this, one the basis of the
outcomes of assessment ZZA Accountancy manager places order for the equipment.
 Installation of equipment: In this, equipment has been installed by the firm which helps
them in delivering the services via internet.
 Setting of training and development program and course: In order to upgrade the knowledge
and competency level of the personnel training session will be conducted by the firm.
 Test system and evaluation of plan: By taking feedback from the customers manager of ZZA
Accountancy can evaluate the plan. Besides this, growth which take place in the sales and
customer base is also helps in assessing the extent to which project of online site
development is successful.
 Making improvement and revision of the plan: On the basis of outcome of feedback
necessary changes will be made by the firm which assists them in attaining success.
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TASK 8
Literature on project risk and identifying the risk factors
As per the view point of Molnau (2014) project risk refers to the factors which negatively
affects the success of any plan. Availability of proper resources, time, sustainability etc. is the
factors which create risk in front of the business entity. Besides this, lack of skilled and efficient
personnel also creates difficulty in the implementation of project. Moreover, success of the project
is highly dependent on the ways in which employees make implementation of plan. All these
aspects impose high level of risks in front of the business organization. In accordance with the view
points of As per the view point of Hoerl and Snee (2012) availability of proper resources, time,
sustainability etc. are the factors which create risk in front of the business organization. Ramani
(2016) said that by making evaluation of project manager of the firm can easily assess the factors
which might influence the success of project. However, it is to be critically evaluated by
Krishnaiah and et.al., (2014) that continuous analysis of risk is not only sufficient but also manager
requires to make efforts to assess or estimate the risk. By taking into account these aspects company
is able to manage the project risk in an effectual manner.
Description
of risk
Failure
modes
effect
analysis
Profitability
Impact
Score
Risk
response or measure
Risk owner
Lack of
sufficient
resources
15 6 Proper planning which
helps in making
optimum use of
resources
Sam (Resource
manager)
Risk of
electricity cut
or loss
4 5 Back up arrangements Henery
Lack of
customer
awareness
towards the
online services
16 7 Organizing seminars to
persuade customers
about the online
services which are
offered by ZZZ
Abdul (Training
manager)
15

or operations Accountancy
Risk of fraud 14 4 Detection team Hennery
IT breakdown 4 5 Employing IT
specialist
Jorz (IT manager or
specialist)
unavailability
of skilled
personnel or
professionals
6 7 Recruitment and
selection of the workers
on the basis of skills
and competencies
which they require
Sam
(HR manager)
Breakdown
occurs in
machine or
instruments
5 6 Team who is able to
overcome the problem
of machine breakdown
Tahir
TASK 9
Evaluating the draft project
By making assessment of the project plan ZZA accountancy has been identified that they
require making changes in the draft plan. Technological advancement, time and cost etc. are the
main factors which affect the online site development project of the firm. In order to assess the risk
accountancy firm makes assessment of the risk on a regular basis. From this, business unit has been
identifying that there are several areas in which firm needs to make changes or improvements in
final plan.
TASK 10
Modified draft plan
Task Name Duration Start Finish Predecessors Resource
Names Cost
Select activity to pilot
Kaizen 18.5 days Fri
2/26/16
Wed
3/23/16 £480.00
Form steering group 0.5 days Fri
2/26/16
Fri
2/26/16 Henery £250.00
Consult for activities 4 days Fri
2/26/16
Thu
3/3/16 2 Atif £50.00
Identification of
development need 3 days Thu
3/3/16
Tue
3/8/16 3 Abdul £70.00
Primary data collection 5 days Tue Tue 4 Kazim £50.00
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3/8/16 3/15/16
Secondary data
collection 2 days Tue
3/15/16
Thu
3/17/16 5 Sam £20.00
Analysis of data 4 days Thu
3/17/16
Wed
3/23/16 6 Sam £40.00
Development of plan 1 day Wed
3/23/16
Thu
3/24/16 7 jorz £80.00
Assessment of software 15 days Thu
3/24/16
Thu
4/14/16 £585.00
reviewing specification 1 day Thu
3/24/16
Fri
3/25/16 8 Sam £30.00
Assessing finnacial
requirements 3 days Fri
3/25/16
Wed
3/30/16 10 james £40.00
Evaluatinmg the sources
of finance 3 days Wed
3/30/16
Mon
4/4/16 11 Robert £30.00
Making arrangement of
finance 2 days Mon
4/4/16
Wed
4/6/16 12 Sam £15.00
investigation about
software 4 days Wed
4/6/16
Tue
4/12/16 13 Abdul £20.00
placing order for
software 1 day Tue
4/12/16
Wed
4/13/16 14 jmaes £200.00
installation of software 1 day Wed
4/13/16
Thu
4/14/16 15 jorz £250.00
conducting training
session 19 days Thu
4/14/16
Wed
5/11/16 £225.00
Form team 1 day Thu
4/14/16
Fri
4/15/16 16 Henery £20.00
Recruiting training
manager 4 days Fri
4/15/16
Thu
4/21/16 18 james £15.00
planning training event 5 days Thu
4/21/16
Thu
4/28/16 19 Abdul £30.00
Evaluating the skills and
abilities of personnel 1 day Thu
4/28/16
Fri
4/29/16 20 Sam £50.00
re-training session 3 days Fri
4/29/16
Wed
5/4/16 21 Abdul £35.00
Assisning task to the
personnel 2 days Wed
5/4/16 Fri 5/6/16 22 Tahir £15.00
Performance of task 2 days Fri 5/6/16 Tue
5/10/16 23 Atif £25.00
Identifying the
loopholes 1 day Tue
5/10/16
Wed
5/11/16 24 Abdul £35.00
Test system 20 days Wed
5/11/16
Wed
6/8/16 £360.00
Risk estimation 3 days Wed
5/11/16
Mon
5/16/16 25 Tahir £30.00
Risk assessment 5 days Mon
5/16/16
Mon
5/23/16 27 Henery £50.00
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Evaluation on the basis
of estimation 3 days Mon
5/23/16
Thu
5/26/16 28 Kazim £40.00
Taking effective
measures on the basis of
outcome
4 days Thu
5/26/16
Wed
6/1/16 28,29 Abdul £70.00
Assessing the progress
of project with the help of
evaluation techniques
1 day Wed
6/1/16
Thu
6/2/16 30 Atif £80.00
Comparing actual
performance in aginst to
predetermined dstandards
2 days Thu
6/2/16
Mon
6/6/16 31 Robert £60.00
Identifting deviations 2 days Mon
6/6/16
Wed
6/8/16 31,32 Sam £30.00
Improvement activity 35 days Wed
6/8/16
Wed
7/27/16 £500.00
Investigate process 5 days Wed
6/8/16
Wed
6/15/16 33 Tahir £50.00
Popose solution 2 days Wed
6/15/16
Fri
6/17/16 35 Atif £45.00
Agree solution 3 days Fri
6/17/16
Wed
6/22/16 36 Abdul £30.00
Presenting solution to
higher management 2 days Wed
6/22/16
Fri
6/24/16 37 Henery £40.00
Taking permission from
higher management 1 day Fri
6/24/16
Mon
6/27/16 38 Henney £65.00
Implement agreed
solution 5 days Mon
6/27/16
Mon
7/4/16 39 jorz £70.00
Post implementation
rewiev 5 days Mon
7/4/16
Mon
7/11/16 40 Kazim £60.00
Collection of past sales
and profit data for
reviewing the
performance
3 days Mon
7/11/16
Thu
7/14/16 41 Robert £50.00
Assessment of the sales
and profit growth 4 days Thu
7/14/16
Wed
7/20/16 42 Sam £40.00
Identification of
deviations 2 days Wed
7/20/16
Fri
7/22/16 43 Tahir £30.00
Assessing the causes of
deviation 3 days Fri
7/22/16
Wed
7/27/16 44 james £20.00
revision of plan 39 days Wed
7/27/16
Tue
9/20/16 £400.00
Framing competent
strategies and policies 3 days Wed
7/27/16
Mon
8/1/16 45 Sam £50.00
Taking feedback from
the customers about the
services
3 days Mon
8/1/16
Thu
8/4/16 47 Tahir £30.00
Encouraging personnel 2 days Thu Mon 47,48 Abdul £20.00
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to present their views 8/4/16 8/8/16
Assessing the other
aspects associtaed with
the project execution
3 days Mon
8/8/16
Thu
8/11/16 49 Atif £60.00
Devising new plan 5 days Thu
8/11/16
Thu
8/18/16 50 Henery £50.00
Strategies for the
effectual execution of
plan
7 days Thu
8/18/16
Mon
8/29/16 51 james £40.00
Allocation of task
among the personnel 3 days Mon
8/29/16
Thu
9/1/16 52 jorz £30.00
Implementaion of new
plan 10 days Thu
9/1/16
Thu
9/15/16 53 Kazim £70.00
Reviewing the success
of plan 3 days Thu
9/15/16
Tue
9/20/16 54 Robert £50.00
19

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21

22

PROJECT STATISTICS
23

24

CONCLUSION
From this report it can be concluded that ZZA Accountancy needs to undertake option 1
which proves to be more fruitful for the firm. Thus, by developing the website ZZA Accountancy
become able to offer online services to the customers. It helps business unit in raising the
profitability to the significant level. Further, it can be seen in the report that radical change and
continuous improvement strategy assists business unit in getting the desired outcome or success.
25

RECOMMENDATIONS
In order to overcome the problem of lack of customers interaction and online service firm
needs to develop online website. Through this, ZZA Accountancy can interact with the large
number of customers. Further, business unit to develop new features in the site which offers high
level of convenience to them. In addition to this, company needs to make focus on continuous
improvement which helps them in maximize the sales and profit to the great extent.
26

27

APPENDIX
Task Name Duration Start Finish Predecessors Resource Names Cost
Plan needs 10 days Fri
2/26/16
Thu
3/10/16 Robert Johnes £300.00
Order equipment 8 days Fri
3/11/16 Tue 3/22/16 1
Robert
Johnes,Computer[1
each],Workstation[15
each],Training
software[1 per lab],Ian
Edwards
£200.00
Install equipment 20 days Wed
3/23/16 Tue 4/19/16 2
Robert
Johnes[50%],James
Ray[50%]
£250.00
Set up training
lab 7 days Fri
3/11/16
Mon
3/21/16 1 James Ray £100.00
Training course 10 days Tue
3/22/16 Mon 4/4/16 4 James Ray £225.00
Test system 10 days Wed
4/20/16 Tue 5/3/16 3,5
Ian Edwards,James
Ray[50%],Computer[1
each]
£360.00
Evaluation of
plan 15 days Wed
5/4/16 Tue 5/24/16 6 Atif £100.00
Inmprovement in
activities 10 days Wed
5/4/16 Tue 5/17/16 6,7 James Ray £500.00
Revision of plan 16 days Tue
5/3/16 Tue 5/24/16 8 Abdul £400.00
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REFERENCES
Books and Journals
Baum, A.E. and Crosby, N., 2014. Property investment appraisal. John Wiley & Sons.
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Dyson, R.G. and Berry, R.H., 2014. Capital investment appraisal. Developments in Operational
Research: Frontiers of Operational Research and Applied Systems Analysis. pp.59.
Emerson, K. and Nabatchi, T., 2015. Evaluating the Productivity of Collaborative Governance
Regimes: A Performance Matrix. Public Performance & Management Review. 38(4).
pp.717-747.
Hoerl, R. and Snee, R.D., 2012. Statistical thinking: improving business performance. John Wiley &
Sons.
Kerzner, H.R., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Krishnaiah, Y.S. and et.al., 2014. Development of performance matrix for generic product
equivalence of acyclovir topical creams. International journal of pharmaceutics. 475(1).
pp.110-122.
Leach, L.P., 2014. Critical chain project management. Artech House.
Molnau, W.E., 2014. Statistical Thinking: Improving Business Performance. Journal of Quality
Technology. 46(3). pp.282-284.
Ramani, S., 2016. Improving Business Performance: A Project Portfolio Management Approach.
CRC Press.
Ramani, S., 2016. Improving Business Performance. Productivity Press.
Stevanović, S. and Pucar, M., 2012. Investment appraisal of a small, grid-connected photovoltaic
plant under the Serbian feed-in tariff framework. Renewable and Sustainable Energy
Reviews. 16(3). pp.1673-1682.
Turner, J.R., 2014. The handbook of project-based management. McGraw-hill.
Upton, J. and et.al., 2015. Investment appraisal of technology innovations on dairy farm electricity
consumption. Journal of dairy science. 98(2). pp.898-909.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
Online
Understanding operations management. 2016. [Online]. Available through: <
http://www.open.edu/openlearn/money-management/management/leadership-and-
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