Project Management: Business Fundamentals Report - University Name

This report delves into the core principles of project management, emphasizing the crucial role of a business analyst in organizational processes and project success. It highlights the importance of breaking down complex projects into manageable components, ensuring effective task distribution, and aligning projects with customer needs. The report also examines the causes of project failures, such as weak business cases and inadequate management support, and underscores the significance of a well-defined business case in securing commercial and social benefits. It details how a robust business case supports project planning, identifies target markets, sets priorities, facilitates change management, promotes business accountability, and establishes key metrics and milestones. The report concludes by referencing key academic sources to support its analysis.

Running head: PROJECT MANAGEMENT
Project Management: Business Fundamentals PM
Name of the Student:
Name of the University:

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Answer to question 1
Business analyst is referred to as an indispensible part in any organization who handles
different inter organizational processes and coordinates with other departments to make sure that
the organization is running according to the company requirements. The business analyst is
responsible to breakdown a large and complex project in smaller parts to make it a simper one.
Task distribution will become much easier if a large task is divided into smaller segments
(Kerzner, 2017). Each of the small activity is distributed among the project team associates to
complete the large project within assigned timeline and budget successfully. An effective role
play of a business analyst ensures that the customers can get best suitable and possible project
version. As soon as a project outline is prepared it become the role of a business analyst to
review and test the project, related processes and track that to make sure that it is reaching the
actual project objectives.
In order to operate effectively within today’s complex and volatile marketplace, the key skills
and knowledge that a business analyst needs to possess elaborated in the below section:
 Business analyst is required to have good communication skills
 Business analyst much have proper problem solving skills and ability
 They are required to have good documentation skills
 Analyst should have a stronger visual understanding
 They much have good business skills and knowledge

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Answer to question 2
It has been identified that many project failed to meet the primary project objectives and
aims even after using the best project practice. There are different reasons behind project failure
such as weaker business case, ineffective support and involvement of top management, lack of
experience among the project team associates and project supervisor (Svatosova & Svobodova,
2016). The expected project success can be interrupted or failed to meet the primary objectives if
at the initial stage an accurate business case is not prepared. The ways through which a good
business case can support a project are defined.
It is identified that a good business planning or business case can offer serious
commercial and social business benefits. Business case is a decision making tool that looks
exclusively at the financial consideration (Burke & Clark, 2016). Business case can either
positively or negatively impact an entire business. Quantifiable benefits are associated to
business case design and development.
Business case identifies the total cost that may be needed to execute the project:
Before final initiation of any project, the supervisor and business analyst should identify and
estimate the expected budget based on requirements details. In order to attain commercial
benefits the business case should measure expected budget (Lin & Chuang, 2018). Even if any
additional cost is required for the project then that is also calculated and identified in the business
case.
Identify the target market and strategic alignment: An accurate business case also
identifies the target audience and its strategic alignment towards the business objectives. A

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business case also elaborates the market expense along with long term fixed cost, products
development activities, needed working capital etc.
Priority setting: An accurately designed business case helps the project supervisor and
others to keep a project on track. Though, throughout the project development life cycle period
the priorities can be changed. Respective changes should be incorporated based on the priorities
set. The time, efforts and the way through which strategically resources should be allocated to
each project activity are also elaborated in s business case.
Effective change management: Business case document also identifies possible changes
that can occur during the project development life cycle period (Veblen, 2017). The change
management approaches are elaborated in a business case but the way through which the change
management can be incorporated is not discussed in a business case.
Helps developing business accountability: A good business case sets expectations and
also tracks the overall result. For regular project review this tool is very effective. The monthly
project plan with actual project plan are compared and discussed in the business case.
Provide realistic reminders: A good business case identifies regular reminders to keep
the project in track. Though, sometimes strategic focus and quality is required to be maintained
by the project supervisors and other associates (Hockerts, 2015). In order to keep the project in
regular routine realistic reminder is essential that is operated easily through the business case.
Identification of metrics and milestones: In order to initiate and govern any project
towards objectives and goals, metrics and milestones are very essential theses are also elaborated
with the help of the business case.

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References
Burke, J. J., & Clark, C. E. (2016). The business case for integrated reporting: Insights from
leading practitioners, regulators, and academics. Business Horizons, 59(3), 273-283.
Hockerts, K. (2015). A cognitive perspective on the business case for corporate
sustainability. Business Strategy and the Environment, 24(2), 102-122.
Kerzner, H. (2017). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Lin, C. T. L., & Chuang, S. S. (2018). The Importance of Brand Image on Consumer Purchase
Attitude: A Case Study of E-Commerce in Taiwan. Studies in Business and
Economics, 13(3), 91-104.
Svatošová, V., & Svobodová, Z. (2016, June). Determination of Financial Strategy of Selected
Company and its Importance for Other Business Development-Case Study.
In Proceedings of the 13th International Scientific Conference European Financial
Systems 2016 (pp. 776-786).
Veblen, T. (2017). Absentee Ownership: Business Enterprise in Recent Times-The Case of
America. Routledge.