Project Management Plan: Analyzing KFC's Impact on Local Businesses

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Desklib provides past papers and solved assignments for students. This project analyzes KFC's impact on local businesses.
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Managing a successful business project
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Table of Contents
LO1 Establish project aims, objective and timeframes based on the chosen themes......................3
P1) Device project aims and objective for the chosen scenario...................................................3
P2) Produce a project management plan that cover the aspect of scope, time, quality,
communication, risk and quality..................................................................................................6
P3) Produce a work breakdown structure (WBC) and a Gantt chart to provide time frames and
stages of completion...................................................................................................................11
Reference list.................................................................................................................................13
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LO1 Establish project aims, objective and timeframes based on the chosen themes
P1) Device project aims and objective for the chosen scenario
Definition of project
The following research is being conducted with the fundamental motive of comprehending the
impact of KFC on the setup of a new local business organization in a critical manner. To be
precise, the research would shed light on how multinational companies impact the business
operations of local business organizations. As opined by Maylor et al. (2017), the locally
operating small scale business organizations are abandoned from various competitive advantages
due to the rapidly expanding business size and nature of the large scale industries. Globalization
has been paving way for business organizations to be exposed to newer market sphere for trade
purposes, which has further enabled the multinational trade organizations such as KFC to
conduct businesses in every possible corner across the globe. With respect to this, Walker (2015)
have stated that this results into local business organizations being exposed to competitive rivalry
with both large scale national and international business organizations, which potentially disrupts
their organizational growth.
Company background
KFC co. is one of the dominating fast food business chains operating in the global market, which
is centrally headquartered in the United States of America. This company was the primary
subsidiary of parent company PepsiCo till the year 1997. The foundation stone of this company
was laid by Kentucky Sanders in the year 1952 (Zhu et al., 2017). The company is globally
renowned for their iconic fried chicken recipes, which is prepared through the trademarked 11-
spices recipe invented by Sanders. KFC co. is one of the very first American food and beverage
business chains to adapt to globalization and expand their horizons in international territories. As
of now, the company has over 22,000 official branch outlets operating in 136 different countries.
What is project management and what does it involve?
A project refers to a temporary initiative undertaken by an individual / group / organization in
order to construct a distinctive product that complements the determined goals and objectives.
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With respect to this, project management can be defined as the procedure which involves
implementation of the necessary knowledge and expertise in order to successfully organize a
given project without violating the determined time and budgetary restrictions.
Key stages of project management
Project management can be further classified into a set of five diverse activities, which comprise
of initiation, planning, and execution, monitoring and closing of a project. In brief;
Initiating group- This stage has a significant contribution in determining the scope and nature of
a project. It is of utmost importance for project managers to ensure that the initiation of a project
is performed with utmost perfection, as it determines the success of the overall project. To be
precise, it comprises of interpreting the business environment in a significant manner, and
ensuring that all of the necessitated controls are fundamentally assimilated amidst the project.
Planning group- The subsequent step after initiating group is planning, which implies that the
project manager is highly required to plan the course of the project in a detailed manner. In this
course, the fundamental activities are planning of time, cost, resources, and necessary measures
for risk management of regarding the particular project. Alike initiation, improper planning can
lead a project towards drastic failure (Yao, 2018).
Executing group- This stage can be best described as the efficient allocation, incorporation and
management for the fundamental resources that are relevant to organization of the project. The
final output that this stage generates is known as the project deliverables. However, it is of
utmost importance for the manager that this stage executes all the fundamental terms enlisted in
the planning stage, in order to manage the project with utmost efficiency.
Monitoring group- This stage refers to the strict and effective surveillance of the processes
involved in the executing group, in order to recognize the likelihood of any problem that may
arise during execution (Todorović et al., 2015). This stage implements necessitated measures in
order to denote the possibilities of circumstances that can restrict the efficient execution of a
project. The key advantage associated with controlling stage is that it enables the manager to
have a stronghold of the overall project performance.
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Closing group- This comprises of activities that ensure the ending of a project in a significant
manner. Furthermore, it includes delivery of the final output to the key stakeholders associated
with the project, including the project reports. Once this stage is successfully executed, the
successful completion of the particular project is ensured in a formal manner.
Advantages of using project management and why is it important
The significance of project management can be justified by stating that it is significant tool that
has been proven to deliver immense benefits to business organizations, irrespective of its size
and nature. However, the primary advantage of project management is that it provides a
paramount standard of assistance in managing the project activities in an orchestrated rhythm.
Furthermore, there are numerous secondary benefits associated with project management, which
are as follows-
ï‚· Determining and evaluating the scope, budgetary limits and schedule of the project in an
accurate manner from the start
ï‚· Making necessitated improvisations in the quality and productivity of the project
activities
ï‚· Complementing the requirements of the key stakeholders in a significant manner
ï‚· Maximizing consumer satisfaction in a significant manner
ï‚· Effectively prioritising the resources of the business, and utilizing them at the highest
potential
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P2) Produce a project management plan that cover the aspect of scope, time, quality,
communication, risk and quality
Project scope
Project scope can be described as a significant part of entirety of the project management
framework, which is of utmost importance for project managers to consider during undertaking
the responsibility of managing any project (Brantley, 2018). To be precise, it can be defined as
the encapsulation of the fundamental goals, objectives, tasks, specifications, attributes and
timeline constraints of a project. With respect to this, the scope of the following project is to
encapsulate the primary impacts of KFC in a local business setup in a brief context.
Problem statement
With respect to the case scenario, there are several problems that a local business organization,
such as-
Inadequate marketing support- In comparison with large scale companies like KFC, local
business organizations lack knowledge and support regarding marketing, market trends, and
customer preferences. In general, the local businesses have a comparatively smaller market
sphere to operate on, due to their highly limited capability of manufacturing volume. Henceforth,
it is nearly impossible for such businesses to meet up to the demand margin in comparison with
multinational business organizations such as KFC. Furthermore, globalization has proactively
encouraged capable business chains to expand their business operations internationally, which
restricts the trade opportunities of local businesses to an even limited market sphere.
Export issues- The local businesses do not posses sufficient knowledge regarding product export
processes, demand patterns, consumer purchases behaviour, product preferences in comparison
with companies such as KFC. With reference to this, Svejvig et al. (2015) have opined that it
restricts the businesses from penetrating the foreign markets, unlike multinational companies.
Inadequate technological advancements- As opined by Badewi et al. (2016), technology has a
significant contribution in the efficiency amidst product manufacturing and business expansion
activities of a company, regardless of its nature and size. With respect to this, the financial
restrictions of local businesses restrict them from maximizing their profitability in a crucial
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manner. Multinational business organizations implement and stay updated with the latest
technological advancements in the market, in order to enhance their organizational productivity
and profitability. On the contrary, local businesses frequently implement outdated technologies
in order to run their businesses, as their revenue generation does not allow them to consistently
stay updated with the latest technologies.
Project aim and objectives
The primary aim of the following research is to analyze the impact that KFC has on a new local
business setup. In brief, it aims to evaluate the impact of the business operations of multinational
companies on the local business organizations. With respect to the fundamental aim of the
research, the primary objectives of the following research are listed below-
ï‚· To critically analyze the impact of KFC on the setup of a local business
ï‚· To evaluate the impact of multinational companies in the business operations of local
businesses
List of time and activities
List of activities Time (days) Cost/hour rate (£) Total Cost (£)
Data collection
procedure
5 25 275
Data analysis
process
3 30 270
Project
finalization
2 20 120
Report
establishment
4 35 700
TOTAL 1,375
Table 1: Time and activities
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(Source: Created by the learner)
Communication
It is of utmost importance to engage in proper communication in order to execute the particular
project in a successful manner. In context to this, Muller (2017) have opined that is of utmost
importance for the project management team to manage efficient communication with the key
stakeholders, peers, executive authorities associated with the particular project. Furthermore, it
can be attained through regular and consistent exchange of telephone communication and emails.
Resources and risks
Resources- Resources can be briefly classified into three distinctive categories, which comprise
of financial resources, human resources and human resources. The project is being supported by
immense financial resources, which ensure that the secondary activities undergoing in the project
activities are being supported with investment in a full-fledged manner. In context to human
resources, the management group and labour personnel are being utilized at its highest potential
in order to complete the project in a sufficient manner. Furthermore, the materialistic resources
that are contributing to the current project comprise of internet facilities, computer-aided
technologies etc.
Risks-
Wee
k
Date of risk
identificatio
n
Identified risk
/ problem
Responsibl
e person
Level
of
impac
t
Impact on
the project
Actions
undertaken to
mitigate the
risk
Wee
k 1
16.5.2019 Inadequate
communicatio
n
The team
leader in
charge of
the
respective
project
H This risk can
have an
adverse
impact on
entirety of
the
reliability of
In response, it
is of utmost
importance for
the
management
team to
organize
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the
particular
project. If
this risk is
not
mitigated
immediately
, it can
potentially
disrupt the
flow of the
project in a
crucial
manner.
numerous
workshops and
seminars that
can provide as
paramount
standard of
assistance in
mitigating the
risk of
inadequate
communicatio
n through
effective
training
sessions
(Bresnen,
2016).
Furthermore, it
would also
motivate the
employees and
enhance
employee
engagement.
Wee
k 2
27.5.2019 Inadequate
time
management
and financial
support
Project
manager
M Improper
time
management
is the
primary
reason
behind the
It is of utmost
importance for
the project
management
team to abide
by the timeline
constraints by
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project
failing to be
executed
within the
given
timeline
constraints.
On the other
hand, not
having
sufficient
financial
support can
restrict the
completion
of the
project in a
significant
manner.
implementing
effective time
management in
their activities.
In addition, the
project team is
highly required
to gather
necessitated
funding in
order to ensure
that the project
is not
undergoing
any further
financial
problems
(Kiridena et
al., 2016).
Table 2: Resources and risks
(Source: Created by the learner)
Abbreviations used-
H (High), M (Medium)
P3) Produce a work breakdown structure (WBC) and a Gantt chart to provide time frames
and stages of completion
WORK BREAKDOWN CHART
Serial List of activity
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no.
To critically analyze the impact of KFC on the setup of a local business
organization
1.0 Initiation of project
1.1 Elementary level research
1.2 Classification of necessary resources
1.3 Preparing survey questions
1.4 Project growth analysis
2.0 Project research process
2.1 Data collection
2.2 Researching the secondary literature
2.3 Qualitative and Quantitative research
2.4 Analysis of data
2.5 Data conclusion
3.0 Project completion
3.1 Documentation
3.2 Grounding of project
3.3 Project presentation
3.4 Project completion
Table 3: Work breakdown chart
(Source: Created by the learner)
Gantt chart
Gantt chart (Table)
Task no. Name of activity Commencement
date
Task duration
(days)
Completion
date
1.0 Initiation of
project
5/1/2019 10 5/11/2019
1.1 Elementary level 5/11/2019 5 5/16/2019
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research
1.2 Classification of
necessary
resources
5/16/2019 4 5/20/2019
1.3 Preparing survey
questions
5/20/2019 12 6/1/2019
1.4 Project growth
analysis
6/1/2019 4 6/5/2019
2.0 Project research
process
6/5/2019 9 6/14/2019
2.1 Data collection 6/14/2019 11 6/25/2019
2.2 Researching the
secondary
literature
6/25/2019 6 7/1/2019
2.3 Qualitative and
Quantitative
research
7/1/2019 7 7/8/2019
2.4 Analysis of data 7/8/2019 9 7/17/2019
2.5 Data conclusion 7/17/2019 6 7/23/2019
3.0 Project
completion
7/23/2019 7 7/30/2019
3.1 Documentation 7/30/2019 3 8/2/2019
3.2 Grounding of
project
8/2/2019 10 8/12/2019
3.3 Project
presentation
8/12/2019 9 8/21/2019
3.4 Project
completion
8/21/2019 1 8/22/2019
Table 4: Gantt chart
(Source: Created by the learner)
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