Report on Managing a Successful Business Project: Rolex Case Study

This report provides a comprehensive analysis of managing a successful business project, using the expansion of Rolex's digital presence as a case study. The report begins with an introduction to the changing landscape of business operations and the impact of digital technology, setting the stage for the project's objectives and aims. Task 1 outlines the project's goals, including how digital technology has transformed business operations, and includes a detailed project management plan covering cost, scope, communication, and time aspects. It also presents a work breakdown structure and Gantt chart for project execution, along with a project management plan for monitoring objectives and an evaluation of the project management process. Task 2 delves into research methodologies, applying both quantitative and qualitative methods, and assessing the reliability of these methods. Task 3 focuses on data analysis, providing recommendations for drawing valid conclusions and selecting appropriate research tools and techniques. This section also includes an evaluation of project outcomes and learning. Task 4 examines the value of undertaking research to meet objectives and the overall value of the project management process. The report concludes with an overview of the key findings and recommendations for Rolex's digital strategy. The report highlights the importance of a well-structured project management plan and effective research methods in achieving business objectives and adapting to the digital transformation.

Managing a
successful business
project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project objectives and aims....................................................................................................1
P2 Project management plan covering the aspects of cost, scope, communication and time.....2
P3 Work breakdown structure and Gantt chart...........................................................................3
M1 Project management plan for monitoring aims and objectives.............................................5
D1 Evaluation of project management process...........................................................................5
TASK 2............................................................................................................................................5
P4 Research by apply quantitative and qualitative research methods........................................5
M2 Reliability of various research methods...............................................................................7
TASK 3............................................................................................................................................7
P5 Analysis research and data.....................................................................................................7
Theme 2: Long term benefits of digitalisation............................................................................9
P6 Appropriate recommendations to draw valid conclusions...................................................14
M3 Selection of tools and techniques for research...................................................................14
D2 Evaluation of project outcomes and learning......................................................................14
TASK 4..........................................................................................................................................14
P7 Value of undertaking research to meet objectives...............................................................14
M4 Value of project management process................................................................................15
CONCLUSION ...........................................................................................................................15

INTRODUCTION
In the present era of technology intervention, activities and operations of business are
changing at a fast speed. Introduction of new technology on continuous basis provides an
opportunity to business enterprises to expand their operations in new areas. Concept of digital
technology changed business operations a lot (Blyth and Worthington, 2010). In earlier scenario,
firms used manual technique to store data but today, digital technology provides them an
opportunity to store large amount of data at one place. This has made the process of business
more easy and effective. Rolex, a popular watch brand is taken under this report for study. Firm
wants to expand its business operations in different areas. Objectives and aim of research as well
as various other activities of project management plan are detailed in this report. Application of
different research methods such as quantitative and qualitative are explained here as well.
Further, recommendations with which Rolex can implement all its business activities in an
effective way are all included in this.
1

TASK 1
P1. Project objectives and aim
In today's business world, needs and wants of customers are changing at a fast speed. It is
very important for business entity to use advanced technology to make products as per the
requirement of customers. All this are decreasing the traditional market segment and modern
business market is increase on continuous level. This affect the business activities in a positive
way as this helps manager in take appropriate decisions. Different technologies help enterprises
in storing a large amount of data which helps manager and supports him during the process of
decision making (LawChen and Wu, 2010). Cloud technology gives an opportunity to
organisations to share or transfer relevant data and files with minimum time. Different social
platforms provide an opportunity to business to easily communicate with its customers and
influence them to buy company's products. All this helps in enhancing the profits of company
and making a positive image of firm. But huge amount of financial resources are required if an
enterprise wants to expand its business activities in different areas. Today, number of enterprises
use various platforms of social media with an aim to reach at a large number of clients. This
provides various advantages to business organisations and bring coordination among different
activities of firm. This supports the manager to execute business operations in an effective way
and identify the obstacles and issues if there are any.
Topic: How digital technology changed different operations of an enterprise such as human
resource, marketing and accounting.
Background of project
In order to better satisfy the needs of customers and to capture a large market share, it is
important for every company to change its business operations as per the variations take place in
business environment (Silverman, 2016). Adoption of new technology increases the
effectiveness of business operations and helps enterprise in producing high quality products for
its customers. Concept of digitalisation saves time of firms as this provides an opportunity to
transfer data from one place to another within short duration of time. Information collected from
different customers guide managers in add specific features in product. Different technologies
such as social media platforms and mobile help in the organisational process as all this make
interaction of customers easy. Before execute business activities on large scale it is very
2

essential for every enterprise to set particular goals and objectives as this provide guidance to
managers during business activity.
Aim: Digital technology transformed business operations.
Research objectives:
 To analyse the effectiveness of technology on business operations
 To assess the implementation of digital technology
 To identify the need of technology transformation
Research questions:
 Why it is important to transform business activities?
 How digital technology will take place on the operations of enterprise?
 How this technique is important for transformation of business?
P2. Project management plan covering the aspects of cost, scope, communication and time
Project management plan is a written program which outlines the main activities or
operations of a project. This ensures effective execution of different business enterprises without
which an enterprise cannot perform its business tasks. Effective project management plan
ensures success of research activities and provides various long term benefits to enterprise. This
gives information to managers in identifying cost, scope, risk and quality of the project. Rolex
wants to expand its business activities online (Czinkota, Ronkainen and Moffett, 2011). Before
undertaking any kind of operation, it is essential for the manager to consider following things: Risk management: Every kind of business project includes some kind of risk which must
be analysed by the manager before executing any task. As Rolex is already a well-
established brand, that is the reason risk involved in project is very low. By analyse this
manager of firm can take more appropriate action and decision related with business.
This will help enterprise in achieve various long term benefits. Scope of project: Large number of opportunities exist in today's business environment.
This provides support to the manager to expand business activities and all this increases
the scope of product. With this, manager can expand operations in various areas and all
this do not limit enterprise to do offline but provide an opportunity to expand on online
also. Quality control: Quality of product and business operations is the main factor which
ensures success of enterprise’s activities. This element is the major one which must be
3

considered by the managers of company while executing operations online. At present,
Rolex offers a variety of quality products to its customers. All this helps the firm to not
only capture a large market share but also provide various long term benefits. Cost: Funds are required to execute any business operation. In case of Rolex, the project
cost will be high as it well require more amounts of funds to manages expand its
activities online. Time: Time is the key element which plays a big role in execution of project. To achieve
pre-determined objectives, it is essential that all activities covered under the project must
be completed on time (Wikström and et. al., 2010)(Lutchen, 2011). Otherwise, it
increases the cost of activities. To achieve this, it is very important for the management to
fix a time limit for every task so that all employees and workers can complete their
assigned task within given time frame.
 Communication: Communication plays a big role in the execution and succession of
every activity. Effective communication brings coordination among different activities of
enterprise and ensures timely completion of all tasks (Schwalbe, 2015). This makes the
workers informed about roles and responsibilities and help managers in identifying new
areas in which company can expand.
All these are the main elements which must be considered by manager before executing
any project. Company can open new stores in different areas. Effective execution of business
required an effective project management plan.
P3 Work breakdown structure and Gantt chart
Research is a process under which researcher use different method and techniques to
collect information in order to get about opinions of other. All this gather data help manager in
take right decision which provide various long term advantages to company and at the same time
help manager in produce a action plan (Young, 2013). Main feature of action plan is that it guide
researcher during whole research and ensure completion of all activities in given time. To deal
effectively with all activities of project deep study is required to be conduct. Main steps include
in conduct research in an effective way include the following steps:
 Identify the main cause for which research is need to be conducted.
 Literature review
4

 Clarify problem
 Define main concept of study
 Select respondents to execute research activities
 Formulate a plan
 Collect data
 Analysis of collected data
Research on any issue required all these activities to be executed. Research based on the
topic digital transformation will also include the same. Main advantage of this is this will help
researcher in get opinions of various individuals. Rolex want to expand business operations
online with the help of digitalisation (De Visscher, 2016). Different views of various authors will
help in reveal whether this will be beneficial or helpful for business or not. After that, some
respondents on which whole research will be executed are selected form whole population.
Opinions of those respondents provide support to research. For this Rolex will choose 20
individuals from the use of random sampling method. Questions are asked with them in order to
collect information in order to decide future actions and to effectively perform business
activities.
By consider all the relevant factors manager frame a action plan include fix time period
to complete every task. All the help in produce a better and beneficial outcome which help
researcher in draw valid conclusions. Primary source will be use by Rolex under which manager
will design questionnaires and will frame 10 question which will be asked by every individual.
Only respondent will give answer to the question as it is difficult for researcher to conduct
research on whole population (Baiden and Price, 2011). Information will be collected from
London users by provide them a template of questionnaire. This will help researcher in get know
about views and opinions of different respondents. Before finalise the plan it is very essential for
researcher to fix a time limit for every activity. Concept of digitalisation is very broad and
complex that's why in order to achieve set objectives it is very essential for researcher to collect
information various sources. Action plan which will be followed by the researcher and specific
time frame of each activity can be better understood by following diagram:
5

This given plan will be followed by managers of Rolex in order to complete all tasks in
time and in order to achieve effective outcomes.
M1 Project management plan for monitoring aims and objectives
Project plan is one of the important part of every business activity as this guide manager
about the activities to be done by him and also indicate the time duration of every task.
D1 Evaluation of project management process
Process of above mentioned project consists different factors such as planning, organising
and controlling. This process help manger in control the impact of various factors on business
operations.
6

TASK 2
P4 Research by apply quantitative and qualitative research methods
Every researcher require effective tool in order to execute all activities in an appropriate
way and to draw better conclusions (Chesbrough, 2010). With use of various research methods
researcher can convert a investigation into an analytical study which increase the effectiveness of
decision making process. Basically there are two methods of data collection which can be used
by researcher to collect data.
 Primary method of data collection
 Secondary method of data collection
Both methods can be used by the researcher to collect data to collect information in order to
execute research activities. Both these techniques will be used by Rolex to collect data and
support to expand business activities in new areas. Main methods which can be used by
researcher during execution of research activities includes the following:
 Qualitative
 Quantitative
 Analytical
Most popular method which a researcher use to achieve desired results are qualitative and
quantitative (Introducing Research Methods, 2017.). For achieve better outcome both primary
and secondary sources of data can be used by researcher. Primary data: Under this researcher select respondents from population and ask them
question in order to collect data. One of the main advantages of using primary data is that
it help managers in collect fresh and relevant data. Main methods of collect primary data
are interviews, questionnaire and survey (Gharajedaghi, 2011). A questionnaire is design
by managers of Rolex which will be asked by every respondent.
Questionnaire
Name:
Gender:
Age:
1. Does digitalisation give any advantages to enterprise?
 Yes
7

 No
2. Does this will be good for Rolex in long run?
 Yes
 No
3. Does digitalisation affect the operation of business in positive way?
 Yes
 No
4. As per the current market conditions, is it is essential for Rolex to implement
digitalisation?
 Yes
 No
5. Is transformation is essential for Rolex to carry out business?
 Yes
 No
6. Does enterprise have adequate amount of resources to store relevant data?
 Yes
 No
7. What will be the impact of transformation on business activities?
 Positive
 Negative
 Can't say
8. Is this is useful for business to bind all its operation in order to decrease red tapism?
 Yes
 No
9. Which method of marketing must be used by enterprise for marketing of its products?
 Traditional marketing
 Modern marketing
10. Any recommendation to company.
Secondary data: Under this, researcher use the sources such as books, journals and
articles to collect information regarding the topic of research.
8

Case study one: Managers of Rolex are doing continuous efforts in order to bring
innovation in its products to influence large number of customers. Mission statement of firm
indicate that enterprise want to produce unique and quality wrist watches for its customers. To
achieve the same managers are required to introduce numerous changes at workplace.
Case study second:Products of Rolex are expensive ones and only high class people can
afford these watches to show their wealth. In this case, to capture a large market share company
want to make watches for middle class people. Various platforms of social media are there which
can be used by firm to promote its watches.
M2 Reliability of various research methods
It is very essential that all collected must be accurate so that managers can do right
estimation about profitability of business activities. For this various methods are there which can
be used by the managers of Rolex.
TASK 3
P5 Analysis research and data
Present the collected data in an effective way support decision making process of
managers. Collected data have to interpret by Rolex in order to draw valid conclusions.
1. Does digitalisation give any advantages
to enterprise?
Yes 17
No 3
9

Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Theme 1: Advantages of digitalisation
Interpretation: Out of 20 respondents 17 respondents says that digitalisation provide advantages
to company.
2. Does this will be good for Rolex in long
run?
14
6
10