Operations and Project Management Report: HSBC Holding Plc Analysis

This report provides a comprehensive analysis of operations and project management principles within HSBC Holding Plc, a multinational financial service company. It begins with an introduction to operations management, highlighting key aspects such as planning, organizing, and controlling. The report then delves into Task 1, critically reviewing the implementation of operations management principles, specifically focusing on Lean principles and Six Sigma methodologies adopted by HSBC to improve productivity. Task 2 presents a continuous improvement plan based on the earlier review, utilizing the PDCA model to enhance service quality and employee effectiveness. Task 3 applies the Project Life Cycle (PLC) to a given project, including the creation of supporting documentation like a business case and project plan. Finally, Task 4 critically evaluates the effectiveness of the PLC within the context of the chosen project, incorporating relevant theories and models. The report concludes with a summary of findings and a list of references.

Operations & Project
Management
1

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Conduct a review and critique of the implementation of operations management principles within an
organisational context..............................................................................................................................3
TASK 2.......................................................................................................................................................6
P2 Prepare a continuous improvement plan based on the review and critique of operations management
principles within an organisational context..............................................................................................6
TASK 3.......................................................................................................................................................8
P3 Apply each stage of the PLC to a given project, producing necessary supporting documentation for
completing the project e.g. a business case, project plan, work breakdown structure..............................8
TASK 4.....................................................................................................................................................12
P4 Review and critique the effectiveness of the PLC in application to the chosen project using
appropriate theories, concepts and models.............................................................................................12
CONCLUSION.........................................................................................................................................13
REFRENCES............................................................................................................................................14
2

INTRODUCTION
Operations and project management is considered as two main ongoing procedure which
is conducted by a company in order to perform activities related to manufacturing as well as
supply of products and services to potential customers. There are numbers of features of
operations management which are considered by an organization such as planning, organizing,
staffing, controlling, time management, leading, motivating or encouraging and so on. For every
organization it is necessary to conduct their operations in effective manner in order to conduct
project management effectively (Albuquerque, Torres and Berssaneti, 2020). Organization
selected for the respective report is HSBC Holding Plc which is a British investment bank as
well as financial service holding company operating at the multinational level. Respective bank
is founded by Sir Thomas Sutherland in year 1865 as well as its head office is located at the
London, United Kingdom. They are providing services like retail banking, corporate banking,
investment banking, finance and insurance, credit card, wealth management, mortgage loan,
private banking and many more. Topics included in this project are Effectiveness of the
operation management principles as well as it will also explain about the concept of the
continuous improvement in the operation of selected firm. In addition to this, respective report
will also include understanding about the project life cycle as well as application of the PLC in
the specific project of firm.
TASK 1
P1 Conduct a review and critique of the implementation of operations management principles
within an organisational context.
Operations management is determined as the mix of the different concepts of leadership
inside an organization. By this, a company can utilize their assets or resources in a powerful and
appropriate way alongside this they additionally guarantee that their operations as well as
functions are lead in appropriate manners. There are a few several activities are considered in
operations management such as planning, controlling, regulating, monitoring, motivating and
some more (Al-Mazrouie and et. al., 2020). There are several principles of operations
management which are considered by a company in order to conduct their work in effective
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manner and gain high profit. In respect of HSBC they adopted different operations management
principles through that they able to conduct their work in effective as well as operate manner at
the multinational level. From which some of the main operations management principles which
are used by HSBC for improving their productivity are given below:-
Lean principle
Lean principles are considered as strategy or method which provide guidelines to the
company so that they conduct their work in effective manner. In addition to this, it will also
encourage them to adopt continuous improvement so that they can attain their desire goal as well
as objectives in effective manner (Caramia, 2020). There are several stages are consist on the
lean principle which a company need to adopt. Explanation of those stages is given below in
respect of HSBC that helped them in improving their performance or productivity at the potential
market place:-
 Define value – At the respective stage manager and leader of HSBC determined their
valuable products and services which help them in attracting more and more customers.
Moreover that also helps in gaining competitive advantage at the potential marketplace.
They will also define the value of product according to the perspective of customer in
order to determine requirement of improvement. For example they analyzed that their
valuable products is their financial and banking services.
 Map the value stream – At this stage manager and leader conducted analysis in order to
design system or framework which helps them in improving productivity of staffs so that
they attain their desire goal. Moreover, at the respective stage manager and leader will
determine steps which are inappropriate in the whole process of delivering financial and
banking services because that helped in saving time, energy and resource.
 Create flow – According to respective phase work conducted in the effective way as their
will be no more hurdle or barriers because in above stage manager and leader remove all
issues which help in saving time, energy and resource (Erjavec and Trkman, 2020). This
also helped HSBC to continue their work related to delivering of financial and banking
services with the high performance of employees which leads to improve in the
productivity.
 Establish pull – At respective stage manager and leader of respective company analysis
that they have appropriate resource which mean not too less or not too high, it must be in
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the right amount. At this stage respective company manager adopted just in time
approach for conduct evaluation of financial and banking services in effective manner as
well as it also helped in ensuring that bank is fulfilling need and demand of customers
successfully.
 Pursuer perfection – In this phase HSBC manager and leader determine that all the
operations related to their valuable services are conducted properly according to the
changes or not. This helped them in ensuring that operations are conducted properly
which lead to improvement in the production or performance of staffs.
Six sigma
It is considered as a technique or an approach that helps in finding or wiping out defect or
issues in offering products, procedure, or any services by gathering information and confining it
on a measurable premise. To understand any defect or issues, a manager should concentrate on
five stages or sub principles that are known as DMAIC. Defining (Finding an issue), Measure
(Measurement of existing framework), Analyze (Finding the driver of the issue), Improve
(Corrective activity), and Control (discovering support and maintain gains) (Fernandes and et.
al., 2020). In respect of HSBC by implementing this process they able to improve their
productivity at the marketplace. There are several stages of this, which are explained below:-
 Define - At this stage, manager of the respective company able to recognized issues or
goals which they are experiencing presently and that they have to address. By this
manager and leader of the HSBC able to develop systems and strategy to minimize issues
related to decrease in productivity of employees.
 Measure - In this, organization measure issues which they are confronting and identifying
its root cause. In this manager and leader of HSBC measure various issues and recognize
which is necessary to be solving so they able to conduct business properly for attaining
desire goal. At this stage there is requirement of trained staffs and respective company if
staff will conduct these activities then their work gets impacted.
 Analyze - It is the third stage of the process in which Respect Company determine cause
of the problem i.e. productive of employees (Ferrari, 2020). Moreover, at this phase
manager and leader of company determined reasons due to which their productivity gets
decreased as well as they also determine ways which is more relevant for their issues.
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 Improve – At respective stage manager and leader of HSBC determined that whether any
improvement is required for the resolving issues in effective manner. In addition to this
they will also determine that their design strategy for improving the production is
effective or not. At this stage they decided that if they find any error then management
will conduct quick improvement in that so that they resolve issues properly.
 Control – It is the last stage of the six sigma approach or principle according to which
HSBC implemented strategy for improving productivity of staffs so that they can attain
their desire goal as well as objectives in effective manner.
By adopting, six sigma as well as lean principle HSBC able to improved their performance in
effective manner because it help in removing unwanted stages in the process as well as it also
help in developing strategies (Fisher, Olivares and Staats, 2020). Through these operation
management principles respective bank able to ensure that, they able to deliver quality services
to the potential customers.
TASK 2
P2 Prepare a continuous improvement plan based on the review and critique of operations
management principles within an organisational context.
Continuous improvement plan is determined as the strategy which is adopted by a
company in order to improve their operations and functions in the continuous manner. By
implementing continuous improvement plan a company able to develop strategies through which
they can determine ways to conduct improvement at their workplace for the attainment of desire
goal as well as objectives (Forero and Rodríguez, 2020). This is generally based on the major
three aspects i.e. products, process and services. There are different models which a company
may adopt for conducting continuous improvement at their workplace. In respect of HSBC they
want to improve their productivity or performance by enhance their employee’s effectiveness. In
respect of this, respective company adopt PDCA model, which is mentioned below:-
Plan Do Check Act
Quality of service At this stage manager
and leader of HSBC
For this respective
company will adopt
In order to act
respective company
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will conduct analysis
and determine in
which aspect they are
lacking in quality of
service. For this they
adopt total quality
management tool
because through it
they can determine
requirement of change
in the procedure.
total quality
management which
will help manager in
focusing on the
quality of services in
effective manner
(Kidd, 2020). They
will also determine
that all employees are
delivering quality
services or not.
will conduct
comparison among
the standard quality of
service and actual
quality of service
which is delivered by
the employees.
Through this they able
to know whether they
are lacking.
Service delivery According to this
HSBC will adopt six
sigma principles in
order to analyze
delivering process of
services. Through this
they able to determine
point in which they
are lacking and which
point impact on their
performance or
productivity.
By adopting method
of six sigma
respective firm able to
accomplish their
business operations
and functions in
effective manner.
Moreover, it will also
help them in
satisfying need and
demand of customers
in effective ways
which leads to
attainment of desire
goal which is related
to improvement in
productivity in
successful manner.
In order to check
effectiveness of the
process respective
company will
compare numbers of
customers from past
record (Kozak-
Holland and Procter,
2020). It is so because
if there will be
improvement in the
performance then
numbers of customers
towards the bank
services get increased
effectively.
Train staffs In respect of this
HSBC can adopt
By adopting different
management style
It can be analyzed
through comparing
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different management
style such as
coaching,
transforming and so
on. This is so because
that will help them in
proving proper
training to staffs so
that their performance
gets increased
according to demand
of market.
respective company
able to deliver high
quality services to the
customers which help
them in attracting as
well as retaining them
for the long time
duration (Manikas and
et. al., 2020).
Moreover it will also
lead to improvement
in the staff
performance which
increases productivity.
performance of
employees from the
past record to current
record. This is so
because if there will
be improvement in the
staff performance
through training them
their service quality
get increase which
leads to enhancement
in productively at the
potential marketplace.
By adopting these strategies as the improvement strategy HSBC able to conduct
improvement in their productivity as well as it will also help them in delivering quality services
to customers so that they get attract with firm and retail with firm for life time. This will also
help respective company in gaining competitive advantage at the potential marketplace at the
international level.
TASK 3
P3 Apply each stage of the PLC to a given project, producing necessary supporting
documentation for completing the project e.g. a business case, project plan, work breakdown
structure.
There are several factors which a company needs to consider while developing strategies
for the attainment of business project in effective manner. For this section of report MFI which is
one of the famous as well as leading furniture manufacturers that has more than 250 outlets
throughout the United Kingdom as well as mainland Europe (Netto and et. al., 2020). The
respective company facing some issues for which they develop a plan or project which will
include several strategies i.e. increase in sales, enhancement in the productivity of employees and
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improve market value. In order to full fill respective objective MFI need to considered several
factors, from which some main are mentioned below:-
Project life cycle
A project life cycle is considered as the sequence of stages that a project experiences
from its introduction to its conclusion. The project life cycle can be characterized as well as
modify according to the requirements and parts of the organization. In respect of MFI, by
adopting project life cycle they able to attain their aim related to increase in sales, employees
productivity and market value in effective manner (Papachristos and et. al., 2020). Moreover, for
this they need to adopt different stages of the project life cycle which are mentioned below:-
 Initiation – It is the first stage in which MFI management will understand the goal,
effectiveness, deadlines and risk related to their project which is based on the increase in
sales, market values as well as improving employee’s performance. For example
respective company will conduct evaluation at this stage about how to increase sales and
profit.
 Planning – In this phase management of respective company need to outline the task as
well as timeline which is required to execute their project so that they can increase their
sales by attracting more and more customers. For example at this stage management will
conduct planning related to increase sales and profit in successful manner.
 Execution – It is the third stage of project life cycle at which respective company
manager will turn the developed plan into the action as well as they will monitor project
performance. For example by this respective company able to improve performance of
employees which help in increase in sales as well as market value.
 Closure – It is the last phase in which manager of MFI will analyze the result which they
attain by adopting project life cycle. For example at this stage management will
determine whether their performance, sales as well as market value get enhanced or not.
Business case
A business case catches the reasoning for starting a task or project. It is regularly
introduced in an all around organized composed record, yet may likewise come as a short verbal
agreement or presentation (Pasaribu, Vanclay and Zhao, 2020). In respect of MFI by developing
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business case they able to develop effective solution of issue. Business case of respective
company is mentioned below:-
Company Overview MFI is furniture manufacturer and retailer they are facing issues
related to decline in sales. In order to overcome it they develop plan
according to which they want to increase their sales, performance and
market value.
Vision and Mission Vision of company is to become one the best furniture manufacturing
and retailing company.
Mission of firm is to increase sales, market value as well as improver
employee’s performance.
Objective The objective of MFI is to increase their sales, market value and
employee’s performance so that sales get increase by 30% in
upcoming year.
Strategy Manger and leader of respective company want to improve
performance of employees so that their sales and market value get
increased (Prabhakar and Nisar, 2020). For this they can adopt
different strategy as that will help in conducting work in effective
manner such as training and development, motivation plan and so on.
Budget For attaining respective objective MFI need to conduct training and
development programmes as well as they also need to motivate
employees for which they required approx 1279 pound.
Plan In order to improve the effectiveness of the employees so that sales
and market value get increased. MFI can adopt different methods
such as they can conduct training to their employees so that they
behave properly with customers as that will help in increasing sales
as well as retaining customers for long time. Moreover they also need
to motivate employees so that they focus on increase sales which
directly lead to increase in market value.
Follow up In order to conduct follow up or monitoring respective company will
compare past sales with the current sales record.
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Project Plan
Cost In order to increase sales and market value MFI will conduct training
and development, for which they required approx 1279 pound
(Shirley, 2020).
Communication In order to conduct communication about the objective or aim
respective company can adopt different methods such as they can
conduct a common meeting with the senior authority or they can
display the notice on the notice board. This is so because through it
they able to communicate with staffs in effective as well as
appropriate manner.
Quality In order to maintain quality of service management must provide
training to employees as well as they also need to evaluate it on the
specific time duration (Song, Zhao and Xu, 2020). This will also help
in increasing sales as well as market value.
Scope The scope of respective strategy is that MFI able to increase their
sales as well as market value. In addition to this it will also help in
improving performance of employees in effective manner.
Work breakdown structure
A work-breakdown structure in project management as well as frameworks designing is a
deliverable-situated breakdown of a task into littler parts. A work breakdown structure is a key
undertaking deliverable that composes the cooperation into sensible areas. By adoption or
developing strategies through work breakdown structure management of MFI able to conduct
their work in small section which help in improving effectiveness of the project in effective
manner.
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Gantt chart
A Gantt diagram is a sort of bar graph that outlines a project plan, named after its
designer, Henry Gantt, who structured such a diagram around the years 1910–1915. Present day
Gantt outlines additionally show the reliance connections among exercises and current timetable
status. By adopting Gantt chart respective company manager and leader able to conduct effective
planning of strategies according to time schedule (TO, 2020). In addition to this, it will also help
in attainment of desire goal as well as objective in effective manner as well as at the given time
duration.
By adopting all these strategies MFI which is one of the best furniture manufacturing as
well as retail store able to increase performance of their employees as well as it will also help
them in increasing their sales as well as market value. Through this respective company also able
to increase its profitability ratio as well as loyalty of customers at the potential marketplace.
TASK 4
P4 Review and critique the effectiveness of the PLC in application to the chosen project using
appropriate theories, concepts and models.
By adopting project life cycle a company able to attain several benefits such as provide
structure to the project delivery process, improve communication among the team members,
ensure progress, conduct effective evaluation of project as well as it also enable structure review
which support governance. In respect of MFI by adopting project life cycle they able to attain
their objective of improving employees performance which directly leads to enhancement in
sales as well as market value (Visser, 2020). It is essential for them to improve these aspects
because through it they can attain their desire goal as well as objective in effective as well as
successful manner. In addition to this, for the implementation of project life cycle in the effective
manner a company management may adopt different theories, concept and models. In order to
this, respective company manager may adopt autocratic leadership model or style as that will
help them in conducting effective decision at the timely manner. This will also help in
motivating employees which leads to improvement in their performances as well as it will further
help in enhancing sales as well as market value at the potential marketplace. On the other hand
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there is some limitation of this model such as it leads to conflict among employees which
directly impact on their performance, sales and customer satisfaction. Along with this MFI can
also adopt goal setting method which help management in determining its strengths and
weakness according to which they can develop strategies as well as plan for the improvement.
There is also some limitation of goal setting model according to it leads to some situation in
which management feel like failure which impact on their as well as employees motivation level.
So it is essential for the respective company manager to conduct analysis of all concept, model
and theories before applying it in their operations.
CONCLUSION
By analyzing above mentioned point of the report it can be summarize that for every
company it is necessary to conduct effective operation as well as project management so that
they can conduct their work in effective manner. These activities must be conducted on the
regular basis so that firm able to attain their desire goal as well as objectives in the successful
manner. Moreover, there are numbers of principles that a company may adopt in order to
conduct their operations management in the effective manner such as lean principles, six sigma
and many more. Along with this for conducting proper working which lead to attainment of
desire goal then company need to design as well as develop continuous improvement plan as that
will help in improving quality of work in successful way and make firm more productive. In
addition to this, management also need to considered several other aspects or factors like develop
business plan, design break down structure, conduct project life cycle and many more. By
adopting or developing project life cycle a company able to attain its several short as well as long
team goal in successful manner.
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REFRENCES
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Shirley, D., 2020. Project management for healthcare. CRC Press.
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Song, J.M., Zhao, Y. and Xu, X., 2020. Incentives and Gaming in Collaborative Projects Under
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TO, T.C.W.E.Y., 2020. Supply Chain Project Management: Vendor Selection and Management.
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