Individual Report: EBTH Digital Transformation and Business Success

This individual report examines the digital transformation of Everything But The House (EBTH), an online auction platform. It details how EBTH leveraged digital strategies to increase revenue from $8 million to $70 million in four years. The report covers project management methodology, including a traditional approach emphasizing sequential cycles and upfront planning. It also outlines the project scope, life cycle, risk plan, and product definition. The project plan includes stages of development, work breakdown structure, and a high-level schedule. Furthermore, the report analyzes the skills and resource requirements, including project stakeholders and the project team structure, along with an organization breakdown structure. The report highlights the importance of digitalization, effective project management, and risk mitigation in achieving business success. The report concludes with an analysis of EBTH's strategies and suggests potential areas for future growth, such as franchising.

INDIVIDUAL REPORT ON
EBTH
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
PROJECT MANAGEMENT METHODOLOGY..........................................................................3
PROJECT SPECIFICATION..........................................................................................................4
Project scope................................................................................................................................4
Project life cycle..........................................................................................................................4
Risk plan......................................................................................................................................4
Product definition........................................................................................................................5
Quality plan.................................................................................................................................6
PROJECT PLAN.............................................................................................................................6
Stage of development..................................................................................................................6
Work break structure...................................................................................................................7
High level schedule......................................................................................................................7
SKILLS AND RESOURCE REQUIRMENTS...............................................................................8
Project stakeholders.....................................................................................................................8
Project team structured................................................................................................................8
Organisation Breakdown Structure..............................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
With the use of right digital transformation Everything But The House has been able to
make their revenue generation from $8 million to $70 million in 4 years of time. The company
has understood the value of estates and properties which are belonging to the people who died or
have shifted to retirement houses. There are a lot of actions which have been taken by the
company to be able to operate effectively in the market after getting digitalization which is going
to be a great factor. The company is planning to get in more changes from time to time which are
beneficial for the overall working and to be able to gain the right standard as well that is
beneficial for the company to be able to operate efficiently.
PROJECT MANAGEMENT METHODOLOGY
Traditional methodology is used when projects are running in sequential cycle. That means
it follow a particular sequence which is initiating, planning, executing, monitoring and the
closing. Traditional methodology puts extra emphasis on processing linearly then documenting
followed by upfront planning and prioritizing. Time and budget are variables in traditional
project management approach. The requirements are fixed and because of this, it repeatedly
faces problems relating to budget and time issues (Teo and Loosemore, 2017). Major benefits of
using traditional methodology are, having clear and defined objective, process that can be
controlled, there is a clear form of documentation and more accountability. This method can be
used for large scale projects where user requirements are clearly defined before the
implementation process. There is very less involvement of clients in traditional method, they are
involved initially but not after when the execution starts. Traditional model is in favour of
anticipation and major focus in on the process rather than the product. Tests are planned at a
single time and project manager gets approval by providing the estimation for entire project.
Reviews and approvals are given by leaders.
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PROJECT SPECIFICATION
Project scope
The scope of the project is huge because there is a lot of growth is evident in the market
so that there is going to be higher operations and working. Projects have a lot of scope and make
the company be able to have unique functioning and products as well which is going to help the
company be able to have higher productivity so that the company can benefit (Dingsøyr, Falessi
and Power, 2019). There are a lot of methods and techniques which can be used and that is going
to make sure that there are higher competitive advantage which the company is going to have for
a long run. Developing the right project is very important to be able to have the right confidence
level of the employees and the clients as well which is going to make sure that there are right
performance that is being present.
Project life cycle
Project life cycle have to be done effectively so that there are higher operations and
working which is going to be present. The stages have to be followed of project life cycle which
are initiation, planning, execution and closing which is present in EBTH. There are effective
measures which were taken by the company and they were not expecting a great outcome but the
clients appreciated the work and make the company be able to have higher revenue and
profitability in the market (Kerzner, 2017). EBTH has been able to make sure that there is good
initiation which the company is taking from time to time which is digitalization which has made
the company be able to have the right revenue generation which is good for the overall working.
Before implementation of the initiation the company has to first plan and evaluate them so that
there is going to be effective execution which the company can have for the strategies to be able
to implement them. Risk factors have to be reduced in order to make sure that the company is
having higher satisfaction level.
Risk plan
Risk
description
Likelihood Impact Severity Mitigation Responsible
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Culture and
location
4 5 4 It is essential to make sure that
the culture and location does
not impact the organization to
be able to operate effectively.
Culture can make the negative
working environment be raised
which is going to make the
organization not be able to
operate effectively.
CEO and COO
Transportat
ion
3 5 5 Transportation is in e-
commerce organization is
essential on time so that the
satisfaction level is going to be
maintained. It is important to
make sure that there are right
actions and decisions which are
being taken making the
functioning more efficient.
Sales and
distribution
department and
CEO of the
company.
Product definition
Use of right information to be able to search for the right product needs to be there so that
there are going to be higher operations. Clients have to be aware of factors which they would be
needing so that the working and operations is going to be accordingly. The company has got in a
lot of digital changes which is making the company be able to have higher operations and make
the satisfaction of the workers be higher as well. For the benefit of the clients there are a lot of
actions which are being improved upon by the company to make sure that there are right actions
and improvement which the company is having effectively (Gram-Hanssen and Darby, 2018).
Time limit of 5-7 days of auction is being put online for the clients so that if they are interested
then they can think for sometime which is going to make the auction be able to take place
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effectively. There is a lot of information as well which is being put out by the company to make
sure that there are right actions and improvement which the company is being able to do.
Quality plan
There must be good quality plan which has to be present in all kind of situations so that
there is going to be higher performance and capabilities which the company can have for higher
functioning. Meeting the needs of the customers requirements is very important to make sure that
the company is being able to have a better performance so that the company is capable enough to
make the right existing and before standards be matched. Planning is required for quality
planning as well which is going to make the sense of direction be higher and functioning is going
to be strong as well which is a very important factor and makes the measuring and quality be
higher as well (Oakland and Marosszeky, 2017). Specifications of activities has to be there as
well and make particular working as well so that there are right services and improvement which
can take place. Documentation which needs to be done as well so that there are going to be
higher operations and working which is present and make the right contraction and brand image
on the clients has to be present so that there are better quality management which is present.
PROJECT PLAN
Stage of development
There are seven main stages which are present to be able to make the website
development take place which are information gathering, planning, designing, Content writing,
coding, testing, reviewing and maintenance. These are few of the main factors which have to be
considered so that there is effective working and making the working be higher (Frederick,
2017). It is very important to make sure that there are higher opportunities which the company is
having and for that there have to be right actions and implementation which must be taken.
Website planning or development requires a lot of factors which have to be solved in order to be
able to operate and function effectively so that there is good operations which can take place.
Good reviewing and gathering of information which is going to make the standards of the
company be higher and make the right working as well which is highly beneficial for a long run.
Development has to be done step by step so that there is going to be higher operations and
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functioning which is present so that the decisions are exact and make the right implementation as
well (Druta and Ronald, 2017). Importance of the company has to be figured out so that the
company will be able to make the project be a success.
Work break structure
High level schedule
Time Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7
Activities
Aim and
objectives
Literatur
e review
Review
Data
analyses
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Recomme
ndation
Conclusio
n
SKILLS AND RESOURCE REQUIRMENTS
Project stakeholders
Denny, Graves, Andy and Jon Nielsen are the main stakeholders who are going to be
involved in the decision making which are being taken from time to time. Employees have to be
motivated from time to time so that there are better working and productivity factors which the
company is going to have. Stakeholders have to be involved and satisfied with the way of
working so that there are better working environment which can be created that is going to
impact the brand value in the market (Learmonth and et.al., 2017). The customers and employees
also have to be well satisfied in order to be able to have good working and functioning.
Understanding has to be strong and risks have to be reduced so that there can be higher outcomes
and reduce the other issues which the company might have to face.
Project team structured
Structure of the team in projects is very strong in EBTH which is making the working
more effective and efficient from time to time. There is a good sense of motivation and after
being able to make a strong place in the market the company has to make sure that there are right
actions which the company is having. There has to be good development which the project team
must get in order to be able to operate and work effectively so that there are right actions and
improvement which can be got (Saltz, Shamshurin and Connors, 2017). Skills and knowledge in
the employees has to be developed and training has to be given so that there is effective working
and performance which the organization is going to have which is beneficial for the overall
working. Good working and effective working is going to be beneficial in making the company
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be able to gain right customer base, brand value, image, respect in market and be able to have
higher operations in the future as well.
Organisation Breakdown Structure
The roles and responsibilities of all the department in making sure that there is effective
working has to be present. Changes like digitalization is important in all the businesses and that
is going to impact the performance as well. Human resource has to make sure that the projects
are being implemented and planned for their benefit so that there are going to be effective
functioning and improvement which can be done (Harold, 2021). Tracking, cost allocation, profit
reporting, work management, etc. factors have to be considered so that there are right actions
which are being taken for higher working and performance which is going to make the standards
of the company be better in the market.
CONCLUSION
From the above report it can be analysed that there are right actions and improvement
which are taking place so that the company will be able to gain competitive advantages.
Franchises or other methods can be used by the company after analysing the factors so that there
are higher functioning and improvement which are going to be taking place. There are a lot of
limitations as well which are going to come for EBTH due to current working and that is going
to impact the performance which is not a good factor. Constraints in the operations are also
going to be present which is impacting the performance and making the satisfaction be higher.
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REFERENCES
Books and Journals
Druta, O. and Ronald, R., 2017. Young adults’ pathways into homeownership and the
negotiation of intra-family support: A home, the ideal gift. Sociology. 51(4). pp.783-
799.
Frederick, A., 2017. Risky mothers and the normalcy project: Women with disabilities negotiate
scientific motherhood. Gender & Society. 31(1). pp.74-95.
Gram-Hanssen, K. and Darby, S.J., 2018. “Home is where the smart is”? Evaluating smart home
research and approaches against the concept of home. Energy Research & Social
Science. 37. pp.94-101.
Harold, K., 2021. Project management: case studies. John Wiley & Sons, Inc..
Kerzner, H., 2017. Project management case studies. John Wiley & Sons.
Learmonth, Y.C and et.al., 2017. Results of a feasibility randomised controlled study of the
guidelines for exercise in multiple sclerosis project. Contemporary clinical trials. 54.
pp.84-97.
Oakland, J.S. and Marosszeky, M., 2017. Total construction management: Lean quality in
construction project delivery. Taylor & Francis.
Saltz, J., Shamshurin, I. and Connors, C., 2017. Predicting data science sociotechnical execution
challenges by categorizing data science projects. Journal of the Association for
Information Science and Technology. 68(12). pp.2720-2728.
Teo, M.M. and Loosemore, M., 2017. Understanding community protest from a project
management perspective: A relationship-based approach. International journal of
project management. 35(8). pp.1444-1458.
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