Analyzing and Planning a Business Project for HealthTech Global Ltd

This project analyzes HealthTech Global Ltd, a startup developing AI tools for medical condition detection. The assignment provides a comprehensive project plan, addressing key areas such as project management methodologies (Agile), cost control systems, change control, and project estimation. The plan also explores strategies for improving time-to-market for new products, ensuring project quality, and managing confidentiality. The analysis includes recommendations for software utilization (Basecamp, Slack) and a detailed budget creation. The goal is to secure venture capital funding and ensure the company's ability to manage large projects effectively. The paper covers all aspects of a project plan, including the introduction, general overview, project planning, and budget creation, aiming to provide a robust framework for HealthTech's future growth and success. References and appendices support the analysis.

Running head: PROJECT MANAGEMENT
Project management
Name of the Student
Name of the University
Author’s note

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Table of Contents
Introduction......................................................................................................................................2
Part A: General overview................................................................................................................2
A.1 Evaluate best way for growing a company to evidence excellent PM techniques...............2
A.2 Steps taken to improve the term-to-market of new product.................................................6
A.3 Key steps taken for ensuring quality in project management...............................................6
A.4 Management of project to ensure confidentiality.................................................................7
A.5 Key measures that minimizes communication issues...........................................................8
A.6 Benefits achieved by the customer from the new approach.................................................9
Part B: Project planning.................................................................................................................10
Part C: Budget creation..................................................................................................................12
Conclusion.....................................................................................................................................16
References......................................................................................................................................17
Appendices....................................................................................................................................20
Appendix B1:.............................................................................................................................20
Appendix B2:.............................................................................................................................21
Appendix C1:.............................................................................................................................22
Appendix C2:.............................................................................................................................23

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Introduction
The paper mainly focuses on the implementation of a new project structure. The main
aim of the paper is to analyze the business and provide a proper project plan for the company
HealthTech Global Ltd. which is a start up company that develops different types of AI tools for
detecting medical conditions by utilizing a number of reporting methods. As the initial funding
of the company has generally grown with the offices in New York, Sydney as well as Paris for
helping with global sales as well as plans in the next two years. In order to enhance the growth of
the entire company, it is generally decided to properly gain proper funding from Venture
Capitalist (VC) for £3M such that they generally requires proper professional guidance for
creating proper project plan for securing the funding and for reassuring that the company is able
to manage large projects. It is found that presently, the PM approach that is used by the company
is ad-hoc with improper real structure. In this paper, proper research has been undertaken with
the ad-hoc processes in order to recommend proper way of working which can be implemented.
The new way of working generally focuses on the PM methodology, cost control system, change
control system, project estimation system as well as proper use of software like Basecamp as
well as Slack.
Part A: General overview
A.1 Evaluate best way for growing a company to evidence excellent PM techniques
The company “HealthTech” will generally be examined in terms of their business-based
practices by the future investor and therefore they generally need to make sure that the processes
are quite rigorous and are up to date. Therefore, it is necessary to research the present ad-hoc
based processes for recommending a new way of working which can generally be implemented

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before any of the VC investment round generally commences. The new ways of working will
generally reflect on the following PM techniques which are evidencable to any investor.
Project management methodology
Agile project methodology must be utilized by the organization “HealthTech” for
managing different types of projects. According to Serrador and Pinto (2015), agile is one of the
procedures by which the entire team can be capable of managing the entire work of the project
by breaking it up into a number of stages by involving constant collaboration with the project
stakeholders. It is necessary to utilize agile PM methodology as it generally assists in giving
different types of opportunities for the stakeholders of the project and for achieving proper team
engagement. In addition to this, an agile approach helps in providing different types
opportunities for the clients such that they can be capable of getting involved within the project
effectively by prioritizing features (Hoda and Murugesan 2016). Moreover, in agile
methodology, the entire work of the project gets disintegrated into a different type of manageable
units so that the team members can be able to focus on collaboration and high-quality based
development.
Cost control system
The organization must determine proper cost control system for reducing the business
expenses and for increasing profits. For effectively controlling the cost of the project effectively,
it is necessary to determine ways which can be utilized efficiently.
 Planning project budget: It is necessary to create proper budget at the starting of the planning
session so that it would further help an individual in planning all the payments that is needed

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for undertaking the project work during the life cycle of the project effectively (Jayaraman
2016).
 Track on project cost: Keeping track on the actual cost is quite important and it is considered
as one of the important methods during the preparation of project budget. This will further be
helpful in keeping track on the budget of the project in each of the phase. It is necessary to
track the periodic targets against that which is set out in the budget (Shermon 2017).
 Project change control: It is another important system that is mainly found to be essential in
to order to take into account various types of potential changes which generally can occur
during the entire project course. This is mainly because each change in the scope will further
impact the deadline and further helps in increasing the budget of the project.
 Utilization of earned value: For determining the value of the entire work that is undertaken, it
is necessary to utilize proper accounting-based technique that is mainly known as Earned
value (Amandin and Kule 2016). It is further beneficial for large project that helps in making
any type of changes in the project which are determined to be important for the project
success.
Change control system
The organization “HealthTech Global Ltd.” must use appropriate change control system
while undertaking different types of business operations. According to Hornstein (2015), a
change control system is one that has mainly implemented in order to serve one of the important
purposes for assuring that the procedure of making changes is not done arbitrarily however it is
generally considered and successfully signed off by one of the responsible parties. Presence as
well as utilization of proper change control-based procedure in PM generally helps in making
sure that each of the change is properly proposed during the project is properly approved as well

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as defined before effective implementation. In addition to this, the system helps in avoiding
different types of changes can generally disrupt the services and further helps in ensuring proper
use of project resources.
Project estimation system
There are a number of estimation system which is generally utilized while successfully
managing work of the project. The organization must utilize the project estimation system in
order to estimate effort, resources as well as cost of the project. It is stated by Lin et al. (2016)
that effort estimation is one of the procedures that helps in predicting realistic amount of effort
that is mainly required based on the inputs. On the other hand, cost estimation is mainly done by
utilizing bottom up estimation method as it generally involves estimation of smaller components
by utilizing the total sum of the estimates for determining the overall estimates of the project
(Cherupalli, Kumar and Sartori 2016). Furthermore, resource estimation is also undertaken by
the project team for compiling a number of listing of the resources that are mainly needed for
accomplishing the work of the project quite effectively.
Useful software
Slack software must be utilized by the company as it is considered as one of the chat
room for the entire company which is mainly designed for replacing the emails as the primary
communication method n as well as sharing (De Mooij 2019). It further helps in allowing an
individual to organize communication with the help of channels for group discussions and for
allowing proper private messages for sharing information as well as files. It will generally help
the HealthTech organization to properly develop a private as well as dedicated workspace in

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order to successfully complete with the help of a custom URL (Kotler et al. 2018). Moreover, it
allows the private messages to sent directly to other members of the team so that they can have
proper communication with the team that will further be helpful in keeping the project team
organized.
A.2 Steps taken to improve the term-to-market of new product
The steps that are generally undertaken in order to improve the term to market of new
products are generally illustrated below:
Targeting customer needs: In order to improve the term to market of new product, the
first step that HealthTech needs to follow is to determine the requirements of the customers. If
the needs of the customers are properly tracked and the organization puts proper effort to target
the requirements then the new product that will come in the market will attract the customers
(Mallawaarachchi and Senaratne 2015).
Proper marketing to the existing customers: Proper campaigns must be run by the
organization in order to market the product to the existing customers so that they can use the
product for determining its benefits effectively (Kotler et al. 2018). Furthermore, marketing
generally helps in properly selling different types of products as well as services.
Utilization of social media: It is found that social media contests are generally considered
as fun as well as proper easy way for connecting with the customers for attracting a greater
number of customers in the social media platforms (De Mooij 2019) Moreover, it is found that
social media further act as a marketing platform for the new products.

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A.3 Key steps taken for ensuring project quality
The project quality helps in encompassing different types of processes and activities that
are mainly utilized for figuring out and for achieving proper quality of the project deliverables.
In order to ensure proper quality of the entire project, the steps that are needed to be taken are
elaborated below:
Customer expectations: If the quality of the project meets the expectations of the
customers and the customers are happy as well as satisfied with what is delivered then it can be
ensured that proper quality of the project is achieved (Vihinen et al. 2016). For meeting the
customer expectation, it is necessary to elaborate the requirements so that the workers of the
project can work accordingly and achieve the project requirements.
Skilled people are employed: If skilled and experienced individuals are employed and
proper facility of training is provided where necessary then it can be assured that the team of the
project will be capable of working effectively in the project and will be meet the quality of the
project. Providing proper facility of mentoring as well as training is necessary for improving the
skills of the project.
Carry out testing: Testing must be conducted on regular basis for ensuring that the items
as well as structures which are undertaken by the project are undertaken effectively with
appropriate quality (Shaari et al. 2015). The tests reflect that proper quality is maintained in the
entire project effectively.
A.4 Management of project to ensure confidentiality
The organization “HealthTech” must utilize ways with which the project can be managed
for ensuring proper confidentiality. The ways are generally illustrated below:

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Utilizing proper regulations: It generally depends on the different type of information
that an individual is handling. It is quite necessary for the project team to properly adhere the
federal or other types of laws that generally govern the storage of the data. In addition to this,
proper use of regulations during the management of project is important for avoiding data loss
and further helps in maintaining confidentiality (Harrison and Lock 2017).
Using documentation: The team must utilize confidentiality forms as well as non-
disclosure-based agreements which are generally required for confirming that everything that is
mainly undertaken is kept on record (Kerzner 2017). When new team members generally join the
team then they need to obtain different types of information that are generally important for
them. In addition to this, it is quite necessary to determine different types of vendors as well as
consultants for signing the agreement.
Setting clear expectations: The team members must be provided the access to that
information which are quite important for the project but with strict confidentiality so that the
information that is provided does not get misused (Meredith, Mantel Jr and Shafer 2017).
A.5 Key measures that minimizes communication issues
The key measures as well as tactics that must be implemented by HealthTech for
implementing a new approach which helps in reducing different types of communication issues
are generally elaborated below:
Open door policy: It is found that open door policy or approach helps in offering a
project team proper message of transparency that is one of the important concepts for building
clarity as well as trust. Furthermore, it helps in encouraging open communication on regular
basis rather than blasting of communication (Muszynska et al. 2015).

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Encouraging two-way feedback: This approach of communication helps in providing a
detailed as well as constructive feedback for enhancing team communication. It is found that
encouraging two-way communication helps in enabling the entire team to become self-evaluate
which further helps in reducing communication related issues while undertaking the project.
Utilization of collaborative PM tool: Collaboration and communication generally go
hand in hand and therefore the organization needs to collaborate effectively. The collaboration
tools generally help in giving the entire team a proper platform to communicate on the projects
that further reduces the problems that the project team earlier can be effectively reduced.
Building team spirit: It is found that construction of proper team spirit generally gives an
individual an opportunity to know each of the individuals of the project team properly and
therefore it helps in creating proper environment of bonding which further helps in improving the
communication channels (Ahangama and Poo 2015).
A.6 Benefits achieved by the customer from the new approach
The new approaches that are required to be undertaken by HealthTech organization are
helpful in reducing communication issues and thus the approaches are considered to be quite
beneficial for the customers of the organization. Proactive communication with the team or with
the customers generally helps in reflecting a commitment that helps in making the customers
quite happy as well as satisfied. Open communication with the customers generally helps in
fuelling a trustful relationship (Butt, Naaranoja and Savolainen 2016). In addition to this, it is
found that with the help of the new approach, the organization can be able to control
communication and it further helps in controlling the customers as well as prospects that are
generally perceived. Moreover, with the help of proper communication, one can be able to
answer all the queries of the customers properly which helps in minimizing the number of

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incoming support calls and further the customers trust on the organization which generally
improves producing and assists in improving the benefits that is achieved from the organization.
It further helps in determining any type of pain point that the customer generally have and that
further prevents from turning into a lot of serious issues as well as challenges (Muszynska 2016).
Furthermore, it allows the customers to express their views on the products as well as services
for making suggestions about how different types of improvements can generally be made.
Furthermore, the impact that the new approach creates will further be helpful in keeping the
customers inclined with the company such that they generally trust changes within the market.
Part B: Project planning
It is found that as per the initial planning, the implementation of the new project
structure will generally get completed within 4 months of time and the completion date of the
project will be 18th June 2020. The Gantt chart is provided below:

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Figure 1: Gantt chart
(Source: Created by Author)
It is found that due to urgency in the project, it is needed to reduce the duration of the
project to 3 months. It is found that for reducing the duration of the project crashing technique is
mainly utilized. Crashing is considered as one of the advanced techniques of PM that generally
involves adding of appropriate amount of qualified resources to the project activities that are
generally taken into account. It further generally has a direct impact on two or three constraint
including planning as well as costs. The Gantt chart which is provided below reflects that the
project activities are crashed in order to reduce the time duration of the project and it is reflected
that the implementation of project structure will generally be done within 3 months of time. The

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activities which are highlighted helps in showcasing crashing on those activities for reducing the
time of the project.
Furthermore, it is found that utilization of crashing technique reduces the time duration of
the project which further helps in delivering the entire work of the project on time for keeping
the clients happy.
Figure 2: Gantt chart
(Source: Created by Author)

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Part C: Budget creation
It is identified that for implementing a new project structure, budget of around £ 210,000
is required. The budget for each of the activities of the project are showcased below:
WBS Task Name Duration Resource Names Cost
0
Implementation of new
project structure
4 mons £ 210,000.00
1 Initiation phase 1.55 mons £ 11,287.50
1.1
Development of business
case
8 days C1 £ 6,400.00
1.2 Feasibility analysis 6 days S2 £ 1,275.00
1.3 Project charter 10 days S1 £ 2,125.00
1.4 Hiring team members 7 days S1 £ 1,487.50
1.5
Milestone 1: Completion
of initiation phase
0 days £ 0.00
2
Identification of venture
capitalist options
1 mon £ 12,250.00
2.1 Undertaking research 10 days S1, S2 £ 4,250.00
2.2 Raising funding 5 days C1, C2 £ 8,000.00
2.3
Milestone 2: Presentation
of report
0 days £ 0.00
2.4
Presentation of investor
options
5 days PPO £ 0.00

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3 Execution phase 1 mon £ 177,025.00
3.1
Detailed analysis of
project management practices
10 days
C2, Consultant cost
[1]
£ 56,025.00
3.2
Outline strategic project
initiatives
10 days Hardware cost [1] £ 11,000.00
3.3
Detailed description of
new project standards
10 days
Miscellaneous cost
[1], New software cost
[1]
£ 34,000.00
3.4 Training plan design 5 days
TTT, Travel to
meetings [1]
£ 27,975.00
3.5
Milestone 3: Completion
of training program
0 days £ 0.00
3.6
Delivery of project
changes
10 days Consultant cost [1] £ 48,025.00
4 Closure phase 0.7 mons £ 9,437.50
4.1 Post project review 5 days C2 £ 4,000.00
4.2 Stakeholder sign off 3 days S1 £ 637.50
4.3 Documentation 6 days C1 £ 4,800.00
4.4
Milestone 4: Presentation
of the final report
0 days £ 0.00

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It is found that as the Chief financial officer is not happy with the budget of the project
therefore it is needed to reduce the budget of the project to £170,000. The calculation of the new
budget is showcased below:
Figure 3: New budget calculation
(Source: Created by Author)

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Conclusion
It can be concluded from the entire report that proper utilization of business practices is
helpful in resolving the challenges that HealthTech generally faces. It is found that the paper
elaborates different news ways of working like use of agile methodology, cost control system,
project estimation system as well as change control system which would influence the investor to
invest in HealthTech company. In addition to this, the paper reflects on the steps that are helpful
in improving term-to market of new types of products. Furthermore, the paper elaborates
different types of key steps that are helpful in ensuring quality within project management. The
ways through which project can be managed for ensuring confidentiality are also elaborated.
Moreover, the key measures as well as tactic that are helpful in implementing different types of
approaches that assists in reducing the various types of communication related issues.

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Cherupalli, H., Kumar, R. and Sartori, J., 2016. Exploiting dynamic timing slack for energy
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Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
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Shaari, N., Abdullah, M.N., Asmoni, M., Lokman, M.A.A., Hamid, H.A. and Mohammed, A.H.,
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Appendices
Appendix B1:

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Appendix B2:

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Appendix C1:

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Appendix C2: