Evaluating Aston Martin's Impact: A Business Project Report

Desklib provides past papers and solved assignments. This report analyzes Aston Martin's impact on the UK.

[MANAGING SUCCESSFUL BUSINESS PROJECTS]
EVALUATING THE IMPACT OF ASTON MARTIN ON UK’S ECONOMY,
SOCIETY AND ENVIRONMENT

Contents
INTRODUCTION......................................................................................................................................................... 2
LO1................................................................................................................................................................................... 3
P1................................................................................................................................................................................. 3
P2 & M1..................................................................................................................................................................... 5
P3............................................................................................................................................................................ 9
LO2................................................................................................................................................................................ 11
P4............................................................................................................................................................................... 11
M2............................................................................................................................................................................. 15
LO3................................................................................................................................................................................ 16
P5............................................................................................................................................................................... 16
P6............................................................................................................................................................................... 22
M3............................................................................................................................................................................. 24
LO4................................................................................................................................................................................ 25
P7 & M4.................................................................................................................................................................. 25
CONCLUSION............................................................................................................................................................. 27
REFERENCES............................................................................................................................................................ 28
1

INTRODUCTION
The purpose of the report is to provide an overview of the business management project
with respect to Aston Martin. The report produces project aims and objectives that help
the company in expanding the business operations in Romania. It also provides insight
into the project management plan that covers the aspects of cost, time, scope and other
important resources (Meredith and Mantel, 2011). Moreover, the report helps us to carry
out small scale research by applying various research methodologies for the purpose of
meeting project aims and objectives. Thereby, the research study is conducted to evaluate
the impact of Aston Martin with respect to the UK's economy, society, and environment.
Aston Martin is an independent manufacturer of a luxury sports car in the UK. The
company manufactures a sports car that is a sign of a British cultural icon. The company
has subsidiaries in more than 50 countries and owns over 150 car dealership. Also, the
company has an established brand image in the automobile sector. Also, the company
generates annual operating revenue of £1,096.5 million for the year 2018 and employs
over 3000 people across the globe (Geraldi and Lechter, 2012).
2

LO1
This part discusses the project aims and objectives with respect to the expansion plan of
Aston Martin in Romania. It produces a project management plan that considers several
aspects of completing the resources within the time frame.
P1
Project
A project outlines the various activities in order to achieve the specified objectives. It
considers the aspect of several methodologies and process so as to provide a clear idea for
business projects.
Project Management
Project management refers to planning and organizing the company’s resources for the
purpose of achieving established aims and objectives. It is an ongoing activity that helps to
manage the various resources such as finance, technology, personnel and other
intellectual property (Turner, 2019).
It is important to set the Project goals and objectives so as to provide clear idea towards
utilization of optimal resources within the specific time period. A business project with
respect to the expansion plan of Aston Martin can be successfully implemented by
outlining a market structure and conducting a detailed investigation of the market in the
European country.
A project manager is required to assess several parameters of the project and provide a
SMART framework so as to achieve the business goals. This framework helps in setting
the realistic and time-bound goals that can help Aston to fight healthy competition with
other players in the industry (Tofade et al., 2012).
3

AIMS AND OBJECTIVES OF THE PROJECT
The main aim of Aston Martin is selling their sports car and grand tourers productively
with the purpose of maximizing profits. The company aims to achieve its long term
objectives and targets and want to become the best-known car seller across the globe.
The stated objectives of the project as follows:
 To expand its business operation in Romania so as to effectively compete with the
other players in the market.
 To stick to our commitment to corporate social responsibility and best practices.
 To evaluate the economic impacts of Aston Martin on Romania in 2020.
 To seek the areas of growth and innovation with respect to dynamic perspective in
the external environment.
 To analyze the environmental aspect in Romania with respect to the expansion
plan of Aston Martin (Marques et al., 2011).
 To enhance the market share from 20% to 25% by the end of November 2020.
 To increase the number of employees by providing them the best place to work.
 To aspire individual actions and enrich their skills for the purpose of achieving
common objectives.
 To achieve strategic competitive advantage through budgeting and cost control
activities.
 To enhance brand awareness so as to get recognition in the next 5 year.
 To achieve a competitive market share by increasing the number of stakeholders.
4

P2 & M1
A project management plan refers to the formal document that contains all the criteria for
managing and executing the project. A plan is devised with the purpose of describing each
phase of the project and thereby provides a controlling mechanism for successfully
implementing the business strategy with respect to Aston Martin. PMP includes certain
deliverables at the end of each stage and also covers various elements so as to integrate
and coordinate the planning activities (Harrison and Lock, 2017).
Scope of the project
A Scope outlines the project boundaries and task that needs to be established so as to
achieve the desired results. The scope statement helps in mapping the responsibilities of
the project manager.
 Aston Martin aims to expand its business in Romania.
 The company needs to establish a luxury car segment in European countries that
will help to achieve competitive advantage (Kerzner and Kerzner, 2017).
 A project manager requires monitoring the completion of deliverables within the
allotted time.
 Continuous changes in the project need to be monitored at regular time intervals.
 Aston Martin requires devising competitive strategies so as to increase the market
share across the globe.
Project Time
The successful implementation of the business project must be completed in a specific
time period. This phase of PMP help in deciding the start and stop time of each activity
and thereby leading to the accomplishment of various task within minimum time
(Meredith and Mantel, 2011).
TASK ACTIVITIES TIME
REQUIRED
5

TASK 1 To carry out preliminary research of the project
so as to analyze the market of Romania and also
meet the sponsor.
1st and 2nd
Week
TASK 2 A business project with respect to the expansion
plan of Aston Martin needs to be approved from
designated authority.
3rd Week
TASK 3 Outline a proposal for the project. 4th Week
TASK 4 Conduct the cost-benefit analysis and identify
associate return from the project.
5th Week
TASK 5 Carry out a feasibility study to know that the
project is technically and financially feasible.
6th and 7th
Week
Costs
A budget needs to be prepared so as to manage the overall project cost and other
resources.
Resource Requirement Project Specifications Budgeted - cost
Management Resources Requires support of top
management and other
executives.
£2250
IT Resources and
Infrastructure
Smooth connection of
internet and LAN network
£1400
Machines and Equipment’s Use of several types of
equipment for implementing
£2750
6

the project
Manpower Skills Requires hiring of talented
and skilled employees.
£2950
Miscellaneous Resource Design of layouts and other
charts
£650
Total
£10000
Quality
A project management plan needs to consider the important element of quality so as to
deliver satisfactory services to the customer. The project manager of Aston Martin must
provide quality control tools and techniques so as to incorporate the quality at every path
of the project (Tofade et al., 2012).
Communication Matrix
Communication Matrix is an important aspect of the project management plan that helps
in defining the flow of information and the appropriate choice of the medium by which
information will be communicated to the designated party. It is an ongoing process and
ensures transparency throughout the project.
What To whom Mode Frequency
Plan updations Employees Emails Weekly
Status report Managers Meetings Monthly
Assessment of Project manager Emails Quarterly
7

report
Significant results
and observation
Participants Letter and Report On completion
of the project
Risk Analysis
The analysis will help Aston Martin to know the potential impact of each risk.
Risk Assess its Impact
Technical risk This could possibly impact the entire system or infrastructure
of the project.
External risk This risk is beyond the control of the organization and could
possibly enhance the work culture (Kerzner and Kerzner,
2017).
Project related risk This refers to an uncertain event or condition that could
possibly act as an obstacle in achieving project objectives.
8

P3
WORK BREAK DOWN STRUCTURE
A work breakdown structure enables the project manager to organize the teamwork into
the manageable section. It leads to break down of large project into the smaller task and
thereby enable the project manager of Aston to define the role and responsibility of an
individual for achieving established aims and objectives of the project (Marques et al.,
2011).
Figure: Work Breakdown structure for Aston Martin
Source: Turner, 2019
GANTT CHART
The chart demonstrates the series of project activities required to be completed within a
specific time frame. It enables the project manager to monitor the duration of an
9
Impact of Aston Martin
the busienss
environment of host
countries
Establish
defined aims
and objectives
Define Aims
Defining
objectives
Conduction of
Primary Research
Quetionnaire
Template
Quetionnaire
method with
data collection
Analysis of
Data
Draw conclusions and
provide
Reccomendations
Secondary
Rersearch
Conduction
Data
Identification
Literature
Review

individual task. Moreover, it further decides the schedules of the project and individual
assignment (Lo, 2011).
MONTH
WEEK 1 2 3 1 2 3 1 2 3 1 2 3 1 2 3
RESEARCH PROJECT
IDEA GENERATION
INITIATION OF DATA GATHERING
DEFINING AIMS AND OBJECTIVES
LITRATURE REVIEWS
EVALUATE SECONDARY DATA
DATA COLLECTION
RESEARCH METHOD
DATA COLLECTION
ETHICAL AND OTHER ISSUES
LIMITATION OF RESEARCH
REVIEW OF PROJECT
FINAL COMPELTION OF PROJECT
SEPTEMBERMAY JUNE JULY AUGUST
Figure: Gantt chart
Source: Gerald and Lechter, 2012
MILESTONE SCHEDULE
The purpose of preparing this schedule is to complete the task in the timeline of the life of
the project. The schedule provides a milestone with regard to planning, development, and
construction of project implementation. It also critically evaluates the level of progress in
the project (Harrison and Lock, 2017).
Milestones The time required incompletion
Determining Objectives and aims Week 4
Creation of Questionnaire Template Week 6
Implementation of Secondary Research Week 12
Conducting Primary Research Week 13
Data Analysis Week 18
Recommendations & Conclusions Week 19
10

Completion of the project Week 20
11