Business Project: Multinational Companies' Impact on Local Businesses

Desklib provides past papers and solved assignments for students. This project analyzes multinational companies' impact on local businesses.

MANAGING A SUCCESSFUL
BUSINESS PROJECT

TABLE OF CONTENTS
LO1..................................................................................................................................................1
P1 Devise project aims and objectives for the chosen topic as specified above in the
assignment brief...........................................................................................................................1
P2 Produce a project management plan incorporating: costs, scope, time, quality,
communication, risk and resources..............................................................................................3
M1 Produce a comprehensive project management plan, mile scale schedule and project
schedule for monitoring and completing the aims and the objectives of the project..................6
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................7
References........................................................................................................................................9

LIST OF TABLES
Table 1: Estimated cost budget of the project.................................................................................4
Table 2: Project Milestone schedule................................................................................................6
Table 3: Gantt chart.........................................................................................................................7

LIST OF FIGURES
Figure 1: Work Breakdown Structure..............................................................................................7

LO1
P1 Devise project aims and objectives for the chosen topic as specified above in the assignment
brief
Project definition
The project can be defined as the activity or task that is undertaken to accomplish the certain
goal and develop new or unique or product or services. But the activities undertaken to
accomplish the daily routine activities cannot be considered as the project. The project
performance process involves various methods, plans, strategies, tools, techniques, times scale
and resources that contribute in completion of the particular project. The business project
involves the developing plan, strategies, and goals and using various methods, tools, techniques
and resources to accomplish the business project successfully within the specified time duration.
in the current business project, the project aims and objectives will be determined and various
methods, techniques and tools will be discussed that can be used for accomplishing the business
project successfully by optimally utilizing available resources and techniques.
Project title
The title of the current business project is that “How do multinational companies or
organizations impact the business environment of the host destination, a country, region, and
city”. The current business project is to find out that how the operations of the multinational
organization such as McDonalds impact the business of the local restaurant business
organizations that is about to open their business in a local area.
Problem statement
Presently, globalization is majorly impact the local business organizations or enterprises as well
as people working in these organizations. The problem has identified that multinational business
organizations impact the business or local business enterprise or organizations in positive as well
as negative ways (Dunning, 2014). Normally globalization develops or opens up various new
business growth opportunities for the local business organizations in the host country or
destination but also fall negative impact on their business operations and performance. In the
1

current business project, the local restaurant business organization wants to open or start its
business in a local area. But the new local business has doubts that operations of existing
multinational business organization can negatively impact its operations and performance in the
local market (Shenkar et.al, 2014). Therefore, in the current business project, various methods,
techniques and tools will be used and research will be conducted to identify the possible ways
the McDonalds can impact on the new business setup in the local community.
Project aim and objectives
Aim of the project: The aim of the current business project is to identify the possible ways the
multinational business organization such as McDonalds can impact the business of the new local
business setup in the local community or area. Also, the aim of the project is to use various
appropriate methods, techniques, tools and available resources and conduct primary as well as
secondary research to identify the possible ways the McDonalds business operations can impact
the business of local restaurant organization.
Objectives of the project:
 The project objective is to identify and analyze the impact of business operations of the
McDonalds on the local restaurant business organization that is about to open its business
in local area or community.
 The project objective is to identify both possible positive and negative impacts of the
McDonalds business operations on the new local business.
 It has objective to produce effective project management plan and manage it to fulfil the
requirements of the clients or new local business organization.
 It has objective to develop key stages of project management.
 It has objective to conduct the primary as well as secondary research to indentify the
possible positive or negative impact of McDonald’s operations on the new local
restaurant business organization.
 It has objective to perform the project activities and accomplish the project efficiently
within the specified time limit by gathering accurate data and information from
authenticate and validate sources.
2

P2 Produce a project management plan incorporating: costs, scope, time, quality,
communication, risk and resources
Project management
In the current business project, the project manager needs to develop or produce an effective
project management plan for performing the project activities efficiently in systematic manner to
successfully accomplish the project. The project manager needs to develop a plan by considering
the project scope, cost, time, quality, risk, resource and communication that will involve in the
project management process (Turner, 2016). It is essential for the project manager to develop an
appropriate project management plan, otherwise any deficiency in project management plan may
cause to failure of the project or non-fulfilment of the project aims and objectives: there are
briefly given below some key stages or components involve in the project management plan:
Project management plan
Project scope: The project scope is to identify the possible positive as well as negative impacts
of the multinational business organization such as McDonalds on the business of new setting-up
or opining of the restaurant in the local community or area. The scope is to find out possible
ways the McDonalds can impact the new start-up restaurant so that business can be established
or started with effective business or marketing strategies. The project manager can develop or
use various methods or tools such as WBS, milestone schedule and Gantt chart and can conduct
primary as well secondary research to perform the project activities efficiently and collect the
accurate and authenticate data for the accomplishing the project aims and objectives (Kerzner,
2019). Also, appropriate data collection and analysis techniques can be used to generate correct
finding of the business project so that business can be set-up effective business and marketing
plan.
Project costs: the project cost involves the cost of resources, techniques and activities used or
performed in the project to achieve aims and objectives of the project. An effective project
management will require sufficient availability of resources such as technical, financial and
human resources to perform various activities of the project and accomplish the project within
the specified time limit. It is estimated that project will incur the $40,000 cost that will includes
the cost of human and technical resources and the cost of research and documentation.
3

Table 1: Estimated cost budget of the project
Resources or activities Cost of resources or activity (in
$)
Human resource 15000
Technical expertise 10000
Theoretical Research 7000
Primary research using
questionnaire
5000
Documentation 3000
Total $40000
Time: There will be need to estimate the project time effectively so that all the project activities
can be performed more efficiently and project can be accomplished within the specified time
duration. Inappropriate estimation of the project schedule or time may cause much pressure on
project team and hence project may fail in achieving its aims and objectives. After considering
all these consequences, it is estimated that 8 weeks or 2 months will be appropriate time duration
to accomplish the project efficiently.
Resources: There will be requirements of sufficient resources such as human, technical and
financial resources to manage and perform the project and achieve its aims and objectives
efficiently. there will be need to conduct the research for collecting the accurate and reliable data
about the business project so need to hire research team that will conduct research and gather
data. The research team will require financial and various technical resources or equipments to
conduct and perform the research activities (Lock, 2017). Therefore, the project manager needs
to optimally utilize these resources to generate correct findings and achieving aims and
objectives of the project.
Quality: The quality of the business project can be ensured by managing and optimally utilizing
the available technical, financial and human resources. The use of WBS, milestone plan and
Gantt chart will help the project manager in efficiently distributing the project activities in
different time interval so that project will be accomplished successfully on-time. Appropriate and
correct cost estimation of the project will also ensure the quality of the project because sufficient
4

availability of fund will enable the project or research team to collect accurate and reliable data
as per project aims and objectives (Oakland, 2014). Moreover, the project manager can also use
the Total Quality Management approach to ensure and bring the quality of the project.
Risks: The business project may involve various risks factors such as risk of management of
administration, operational and technical cost of the project. The management may also face risk
of time management that may adversely impact the project performance. The project
management may face the risks such as overexploitation and shortage of the resources, improper
communication between stakeholders and disputes and inappropriate execution of the project
may cause to the delay in project completion or failure of the project (Sadgrove,2016).
Therefore, the project manager needs to indentify and analyze the various risk factors that may
hinder the performance of project or research team and hence cause the failure of the project.
Communication: Communication plays an important role in performance of the business project
as this ensures the coordination between the project management and research team. The project
manager needs to establish the effective communication system or channels through which the
project team will able to make coordination with each others for generating the final outcome of
the project (Alaloul et.al, 2017). Technological advancement has provide various digital
technology and tools such as mobile phones, computer, laptop by using which the project and
research team will able to communicate or share information through text messages, emails and
telephonic contact.
Therefore, effectiveness of all the above mentioned components or stages will ensure the
effective management of the business project and hence will ensure the successfully
accomplishment of the business project within estimated time limit and availability of the
resources.
5

M1 Produce a comprehensive project management plan, mile scale schedule and project
schedule for monitoring and completing the aims and the objectives of the project
Table 2: Project Milestone schedule
Project activities /
Number of weeks
First Second Third Fourth Fifth Sixth Seventh Eight
Conduct Research and
collection of data
Discussion related to the
project management plan
Identify and analyze the
risks factors involved in
the project
Develop or prepare the
project proposal plan
Resources allocation or
distribution
Determine the cost budget
for investment
Appoint skilled human
resources or team to
perform project activities
Develop or prepare
communication plan
Execution of the project
plan
Accomplishment of the
project
6

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion
Figure 1: Work Breakdown Structure
Table 3: Gantt chart
Project activities/ Number of
weeks
First Second Third Fourth Fifth Sixth Sevent
h
Eight
Developing aim and objectives of
the project
Assessment of project plan
strategies
Organizing meeting with investors
or stakeholders of the business
Identifying cost budget for the
investment
Appointing the skilled human
resources or research team to
7
Business project
Planning
Hand on requirement
Technology analysis
Strategy Documention
skills identification
Requirement
specification
Meetings
Focus on issues
Developing online
solutions
identification of risk
factors
Pre-design
Communication
regarding the project
requirement
Finalization of
solutions
Contract and
agreement
Revise cost and time
Designing
Develop Logical
design
Physical resources
Risk managment
Implementation
Configuration of
device and softwareAdditional installation
Documentation
Testing
Configuration testing
Physical installation
Quality
analysis
Post-implementation
Maintenance guide
Recommendations
Training and
development
Resource handover
Completion of the
project

conduct the project research
Designing of Questionnaire for
collecting the data
Organizing meeting with
stakeholders of the business
organization and giving them
questionnaire to check its validity
Gathering of the data through
questionnaire survey
Communicating and sharing the
collected data with the business
stakeholders
Findings and analysis of collected
data
Determining the final outcome of
the research
Developing the report for final
outcome
Accomplishment of the business
project
8