Analyzing McDonald's Influence: A Business Project for Barking

Desklib provides past papers and solved assignments. This project analyzes McDonald's impact on Barking's business environment.

UNIT 6 MANAGING SUCCESSFUL BUSINESS PROJECT
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Table of Contents
P1 Device project aims and objectives for a chosen scenario.........................................................3
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk, and resources.................................................................................................5
P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes and stages for
completion.......................................................................................................................................8
M1 Produce a comprehensive project management plan, milestone schedule and project schedule
for monitoring and completing the aims and objectives of the project.........................................12
D1 Critically evaluate the project management process and appropriate research methodologies
applied............................................................................................................................................13
References......................................................................................................................................14
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P1 Device project aims and objectives for a chosen scenario
The project has been aimed with the objective to study the impact of McDonald's on the business
environment of Barking. Business environment refers to the overall circumstances/surroundings
within which an entity operates. Every organization whether small or big is affected by
environmental factors and is required to consider these factors for developing organizational
policies and programs. Both internal and external factors play a major part in shaping the
business environment of an organization.
The aim of this project is to analyze the various impacts that a business magnate like McDonald's
can have on the local business entities and their respective environments. Keeping a broad
perspective, the impact can be assessed in various sectors such as economic, social, legal,
political, technological, product pricing, level of consumer satisfaction etc. Some other factors to
be kept in mind while conducting this research may include the market conditions of the area,
availability of raw materials, supply chain, level of competition, the types of customers served,
demographic conditions, availability of substitute products, customer's bargaining power,
restrictions on entry of new business entities, market share of the existing businesses etc.
Globalization refers to the removal of geographical barriers so that business entities can operate
freely irrespective of their place of origin. It helps in providing business entities with much more
freedom in operating across countries and also lays the foundation stone towards building an
efficient and prosperous global economy. When big businesses like McDonald's entry into a new
area, they change the scenario completely. They increase the level of competition and the other
local businesses are forced to work harder because of their (McDonald's) immense financial
power, cost-effective operations, established brand value and high levels of customer satisfaction
that they bring with them. All these are achieved by McDonald's on a global scale and that itself
creates a big challenge for the local entities since McDonald's can be expected to cause massive
changes in the local business environment by operating along the same lines of the immensely
high standards that have been set by them on a worldwide scale. Local businesses have to amend
their ways of working to adapt to the changes in the environment caused by McDonald's.
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Whether the final impact shall be negative or positive will depend upon the way in which the
local businesses choose to respond and adjust in respect to the changed environment. The
objective of this project is to understand that these changes may give rise to various opportunities
for local entities to prosper but they may also create various risks which need to be dealt with
diligently and in a pro-active manner. The outlook and planning of the owners shall play a
pivotal role in shaping the future of these local businesses.
The project aims to study the impact that McDonald's has on existing businesses and also to
analyze and evaluate the impact that it will have on a new business venture that is about to be set
up in the same business environment.
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P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk, and resources
A project management plan is a projected document that indicates the aspects of cost, time,
quality and project communication etc. A project management plan is an essential document that
supports the development of the project and its activities. The project management plan is as
follows:
Particulars Description
Cost Cost is referred to all the expenditures and expenses undertaken in the
organization in order to finance the project aims and objectives. Costs
include for all the operational, non-operational, fixed and non-fixed costs
and expenses. The project entails for various costs and expenses such as
salaries paid to human resources, costs paid to recruit the required
resources, and expenses paid for gathering approvals and registrations
(Aithal, 2016). Costs are incurred at every stage of the project and must
be supplied at a specific time as per the requirements of the project. The
cost estimated for this project is $45,000.
Scope The scope of globalization is very extensive and includes diversified
operations in the business environment. The project has a wide scope as it
includes studying the impact of McDonald’s on the operations of the host
countries and markets. The scope is wide and extensive as for it covers
studying the entire market of Barking. The scope of this project will be
applied in the regions of business functions, resources, processes,
departments, and outcomes etc.
Time Time is an essential constraint in implementing and developing the
project and accomplishing its results or objectives. It is essential for a
project to b completed in a defined time period. This ensures for
accomplishing the objectives in a cost-effective manner (Boyle, 2017).
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The time period in order to study and examine the business environment
and the impact of McDonald’s on the business is 30 days. As the project
is vast and undertakes different operations a month is sufficient to
accomplish the project aims and deliverables.
Quality Quality is also an integral part and dimension of a project. It is necessary
to accomplish the project goals as per the defined standards and levels to
ensure for quality. Project deliverables must be achieved in
considerations with predefined systems. Quality ensures for effective
time management and cost management of the project.
Communication Communication is required in a project to ensure the satisfactory
achievement of the project and its outcomes. Communication ensures the
proper flow of information and transfer of details in the required manners
and channels (Dean, 2015). Communication will be undertaken in this
project through proper structured and established channels. Formal
channels and networks of communication will be established to transfer
the information from the management to the employees and vice a versa.
Risk Risks are the adverse or negative results a project may witness due to
certain unforeseen events and programs. Risks are defined as a part and
parcel of the projects and may occur due to different reasons. The risk
this project may witness include for a delay in the project, delay in
accomplishing the project outcomes, lack of resources, lack of technical
know-how, and lack of the finance.
Resources Resources are considered as the suppliers for the project aims and
requirements (Flyvbjerg, 2013). The resources required in a project are
human resources, financial resources, raw materials, and technical
resources.
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P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes and
stages for completion.
Work Break down Structure
Work Break Structure is a document which provides with information and details regarding the
processes and activities that will be undertaken in a project. The current project requires studying
the impact of McDonald’s on the businesses undertaken in the market of Barking. The project
will study for examining the future of the local businesses. The work break down structure
includes for processes, duties, time duration involved in the project, scope, and description of the
activities.
Activities Duration Description
Defining project goals
and objectives
3 Days This is the first stage in project
development and its implementation.
The stage requires defining project goals
and objectives (Heldman, 2018). This
stage includes identifying the scope of
the project and determining the goals
according to the scope.
Initiation 4 Days This is the stage where the project
managers and project administrators
educate and communicate the members
about the project goals and objectives.
The project is initiated and is
communicated to the members in order
to develop an effective understanding of
the project activities and processes. The
stage involves communication of project
goals and objectives, the setting of
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project priorities and programs etc.
Planning and
programming
6 Days This is the stage where project managers
and the administrators develop for the
project plans and programs. Here the
teams work in collaboration to
undertake different project
responsibilities and duties (Killen, et.
al., 2012). The project is planned and
structured in a specific manner to be
developed and executed in this stage.
Resource allocation 3 Days Resource allocation is the next stage in
which the different project departments
and functions are allocated with the
required resources to complete the
project goals and objectives. The
different project departments are
allocated with resources such as human
resources, financial resources, and
technical resources.
Identification of
activities
4 Days This stage includes identifying the
activities and processes which are to be
executed in the project (Martinelli &
Milosevic, 2016). This stage develops
for scheduling the activities in a
systematic manner and accomplishing
the project goals in time.
Execution 5 Days Execution is the stage where the project
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actions and programs are executed in the
actual settings. The project execution
includes working on the actions in real
time settings and business environment.
Monitoring and
controlling
3 Days Monitoring and
Controlling of the project
accommodates for analyzing the project
performance (Killen, et. al., 2012). It
includes controlling project costs and
project activities.
Closure 2 Days This the last stage in the project and its
implementation. In this stage, the project
activities and programs are closed down.
The stage also includes closing down
the processes and dismantling the
project teams.
Performance review 1 Day This is the stage where the entire
performance of the project is reviewed
and analyzed (Heldman, 2018). The
project manager accommodates for
identifying the project gaps and judging
the faults in the project.
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Gantt chart
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M1 Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project.
The project management plan developed for this project above has depicted with detailed
information about the project activities and programs. The work break down structure provides
with an explanation of the activities, the responsibilities of different teams and the time duration
required to undertake each of the mentioned activity (Dean, 2015). The work break down
structure for this project demonstrates the execution of different activities to accomplish the
project aims and objectives. The work break down structure also provides with a Gantt chart to
depict the time durations required for each activity and the final completion of the project.
The milestone chart developed below states for completion of different project activities.
Milestone is a technique in project management in which the completion of each stage is
represented as a milestone. It is necessary to mark these stages as it denotes for the
accomplishment of project activities and different stages (Dean, 2015). There are various
milestones in this project and each is marked with the successful completion of the designated
activity.
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D1 Critically evaluate the project management process and appropriate research
methodologies applied
The project management processes and methodologies applied in this project are both
quantitative and qualitative in nature. The processes provided with opportunities to effectively
accomplish the project aims and activities. These strategies and approaches of work base
structure, project management plan, and milestone chart represented with a graphical
representation of the project data and stages (Dean, 2015). These strategies and approaches
however require time and consume resources to develop in a strategic and systematic manner.
These approaches require for proper allocation of information and data.
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