Managing a Successful Business Project: A Detailed Report

This report delves into the intricacies of managing a successful business project, using Rolex as a case study. It begins by outlining the aim and objectives of the project, emphasizing the importance of advanced technology in achieving long-term business goals and attracting customers. The report explores project management plans, including scope, risk management, quality control, cost, time, and communication. It utilizes tools such as Gantt charts and Work Breakdown Structures to effectively plan and execute project tasks. Furthermore, the report incorporates both qualitative and quantitative research approaches, including questionnaires, to gather primary data and secondary data from sources like publications and websites. The analysis focuses on how digitalization impacts business processes, the needs for business transformation, and recommendations for drawing valid conclusions based on the research findings. The report concludes with a reflection on understanding research to meet desired performance and objectives, highlighting the significance of these elements in ensuring project success and business growth.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Aim and objectives of research........................................................................................1
P2. Project management plan.................................................................................................2
P3. Gantt chart and Work Breakdown Structure....................................................................3
TASK 2............................................................................................................................................5
P4 Small research by applying qualitative and quantitative research approach ....................5
TASK 3............................................................................................................................................7
P5 Research and Data Using appropriate techniques and tools ............................................7
P6 Recommendation to draw valid and meaningful conclusion .........................................15
TASK 4..........................................................................................................................................16
P7 Reflection on understanding research to meet desire performance and objectives ........16
CONCLUSION .............................................................................................................................16
REFERENCES..............................................................................................................................18

INTRODUCTION
Advanced technology is identify as an important and essential part of business success
and development. Each and every organisation applies advanced technology with the purpose of
achieving long term goals and objectives of company. It is also beneficial for them to attract
millions of customers towards digital technology in a quick way. One of the main advantages of
this is to provide certain opportunities to collect accurate information and data for long duration.
Further, one of the essential features of new technology is that it supports the organisation to do
better advertisement of its services and products (Ahmed Dine Rabeh and et. al., 2013). This is
also valuable because it generates maximum profits and revenues of enterprise in limited time
period.
This report is based on Rolex which is a watch provider company operating worldwide.
Main aim of this business is to give quality and branded products to their clients. This
assignment describes about the aim and objectives of project and its management plan. In order
to identify the needs and wants of customers regarding topic, an enterprise uses various tools
such as qualitative research, Gantt chart and Work Breakdown Structure.
TASK 1
P1. Aim and objectives of research
In the modern business scenario, wants and requirements of clients are modify at a quick
way which is important for all organisation to fulfil their basic needs. It is also essential because
it generates maximum profit or revenue of company (Introducing Research Methods, 2014). Due
to this, it is necessary and vital for every company to use advanced technology with regard to
offer different facilities to their clients in an effective and efficient manner. One of the main
advantages of digital technology is to gather plenty of information and data which is useful for
the business in order to fulfil their buyer’s needs and wants. It will offer different communication
channels to an organisation so that they can easily communicate with their clients and make them
alert regarding the features and quality of products (Blackburn and et. al., 2013). All this
maximises the performance and efficiency of business operations. It is also important for
development and growth of organisation in a systematic manner. . Utilisation of innovative
technology is very expensive for the business entity. So, in this, they need more money to be
endowed in this equipment. Another quality of technology is that it give million platforms to
1

their customers such as Twitter, YouTube, Facebook and other sides. Each and every person uses
this which assist organisation to reach different number of clients. Further, it bring cooperation
and coordination among their different departments. It is an essential part of company’s success
and growth. Rolex is a watch provider company that aims to give better satisfaction to their
customers and so they highly requires digital technology (Bovee and Thill, 2012). This supports
the upper level management and ensure integration of firm’s operations to analyse any type of
divination and reduce the same.
Research Aim: Implementation or formulation of advanced technology to change business
operations.
Research Objectives:
 To evaluate the execution of digital or new technology on company’s activities
 To find out the requirements of business transformation To assess the performance and efficiency of digital or innovative technology on
enterprise activities
Research Questions:
 What are the ways in which impact are being made by digitalisation in business process?
 What are the needs for transforming operations of business?
 How can transformation take place in certain ways within an organisation?
P2. Project management plan
For the implementation of business activities and tasks, it is mainly needed by company
and its administrator to make better strategies and plans effectively. Due to this, all objectives
and tasks can be achieved automatically in a systematic manner. Main purpose of preparing
project management plan is to ensure that all activities which are assigned by project manager
should be completed in set time frame (Chesbrough, 2010). In simple words, this supports the
employer in order to get proper guidelines in identifying the cost, scope, risk, resource and
quality for making project successful in given time period. Rolex is an online and watch provider
company which expands their business activities and functions by the utilisation of advanced
technology. All these elements are:
Scope of project: Scope of advanced technology is very important for the business
growth and development. It is essential for attracting large number of clients towards the digital
technology. It helps the business manager in order to generate maximum profits and revenue in
2

limited time period. In the business environment, there are various opportunities to develop and
grow in the competitive marketplace. It is reduce time and cost of product which is beneficial for
increasing their profit.
Management of risk: Each and every company contains more risk which is essential for
the administrator to find out better element with motive of reducing at the same. Rolex is a
famous company so the uncertainty included with that organisation is low (Cragg and et. al.,
2011). Moreover, identification can be completed by the employer and inspect different risk
source in respect to achieve positive outcomes.
Quality Control: For the purpose of attracting millions of clients, an organisation has to
lay on product and service quality which is offered to the buyers. It will support in getting long
term objectives and goals of company and assist in organising business operations in a smooth
manner. This type of strategy is being selected by the enterprise as they give better features in
their products or services to clients. It is also helpful in keeping a strong image and goodwill in
the marketplace as well as in customer’s mind.
Cost: In order to implement the project, business requires more money at the same time.
It is necessary and essential for the administrator to arrange different sources of funds. So, it is
significant part of the project success and development which needs by business manager in the
organisation.
Time: It is also important and beneficial for company’s growth and development. In
regards to fulfilling the project that will be consume more time (Crane and Matten, 2016). When
the tasks or activities are implemented on ideal time, it decreases cost and help enterprise to
attain more profit and revenue. This type of methodology is chosen by Rolex to make effective
strategies and plans within given time period.
Communication: For the achievement of business goals and objectives, company should
communicate in an effective manner among different departments. It will be supportive in
implementing the better projects within set time period. This factor reduces the conflicts and
misunderstanding better all division in an appropriate manner.
P3. Gantt chart and Work Breakdown Structure
Both tools are very important for the company in order to plan an effective project. These
are complex system for the business because it classified different activities which are identify as
3

a time bounded components. This will complete to distribute perfect time to whole activities and
strategies which are significant in order to complete project in systematic manner.
Work Breakdown Structure: It is very beneficial and important element for the
organisation in order to classified their work into different parts. With the use of this technique,
organisation can managed their entire activities and plan in appropriate time (Den Hertog and et.
al., 2010). Rolex has made changes in culture in thus, it has been classified on the basis of
training, education and other activities of development so that performance can be enhanced in
effectual manner. This is complete so that company can achieve long term objectives and goals
in limited time period. The disintegration of work in taken in this project as well as smaller
components which are established so that they are transferral to the business entity.
Illustration 1: Work Breakdown structure
Source: Work Breakdown structure, 2016
Gantt Chart: It is identify as a horizontal chart created as a production techniques in
1971. This tool gives a graphical example of a plan that assist to coordinate, design and track
particular tasks and activities in a project (Eckerson, 2010). In this all activities are classified into
smaller elements which are distributed with time period in this they are attained effectively. This
graph also identify resources, progress and time which has been analysis in process of project
implementation. Rolex have taken support from Gantt Chart in order to create a technological
and effectiveness oriented culture for an organisation.
4

This activities and duration which are identified in the above horizontal chart precise the
plan of action which are taken in the implementation process of project. Performance
development can be considers as a gradual process in which various number of activities are
involved (Hotho and Champion, 2011). Thus they needs to be carry out in context of data
providing and through training sessions which can motivate them to perform in higher manner.
TASK 2
P4 Small research by applying qualitative and quantitative research approach
In order to draw meaningful and valid conclusion, it is most important for investigator to
conduct investigation effectively. For this, it is very essential and significant for the company to
choose accurate approach for analysing them. There are basically two types of approach such as
primary and secondary. Both are vital part for the organisation in order to identify basic
requirements of clients and market trends towards digital technology (Kankaanranta and
Planken, 2010). Both type of research are describe under this:
Primary research: It is suitable and beneficial approach of gathering essential information and
data. This will support in collecting necessary content and support in presenting valid
conclusion about research. In this, research use different aspects such as interview, survey,
5

questionnaire and other components. But Rolex follows the questionnaire during investigation in
which maximum 20 % answerer are being chosen and they assist company to collect more
information in an accurate manner.
Questionnaire
Name:
Gender:
Age:
Contact no.:
Email id:
Q1) Does digitalisation give any type of advantage to organisation?
 Yes
 No
Q2) Does digitalisation is impressive for company in long period ?
 Yes
 No
Q3) Does digitalisation impact the company activities and plans in positive way?
 Yes
 No
Q4) According to actual business situation, it is vital for Rolex to turn for new technology?
 Yes
 No
Q5) Does execution of digitalisation is essential for Rolex to change business activity and
operations?
 Yes
 No
Q6) Does company has perfect amount of capital and time to utilize advanced technology
effectively?
 Yes
 No
Q7) In which way new technology will impact the business activity and function?
6

 Positive way
 Negative way
 Can't say
Q8) It is important for business organisation to deterrent all vital activity and plans of company
in order to reduce red tapism?
 Yes
 No
Q9) What are the methodologies of marketing adopted by Rolex for the promotional activity?
 Traditional Methodologies of marketing
 Modern Methodologies of marketing
Q10) Any conclusion and recommendation for business entity connected with advanced
technology?
Secondary data: This type of data and information gathered by scholar in order to evaluating his
study. There are different sources which are used by Scholar by gathering essential information
such as publication, journal articles and websites (Keller and et. al., 2011). The data can be
acquired at reasonable or economical price in unsystematic way.
TASK 3
P5 Research and Data Using appropriate techniques and tools
Q1) Does digitalisation give any type of advantage to organisation?
 Yes- 16
 No- 4
Theme: Digitalisation give any type of advantage to enterprise
7

Interpretation: This graph shown the importance of digitalisation in business organisation. There
are 20 respondents in which 16 % are say yeas and 4 % are not accept this.
Q2) Does digitalisation is impressive for company in long period ?
 Yes- 18
 No- 2
Theme: Digitalisation is amazing for organisation in long period
8
Yes No
0
2
4
6
8
10
12
14
16
Column B
Yes No
0
2
4
6
8
10
12
14
16
18
Column B

Interpretation: Digitalization is essential for the business growth and development. This graph
shown the 18 respondents are agree about it is beneficial for long term but remaining are not
satisfied at the same.
Q3) Does digitalisation impact the company activities and plans in positive way?
 Yes- 15
 No- 5
Theme: Digitalisation impact the company activities
Interpretation: Advanced technology impacts on business activities and functions in an effective
manner. But 15 respondents are say it is very effective and remain are not agreed about
digitalisation.
Q4) According to actual business situation, it is vital for Rolex to turn for new technology?
 Yes- 16
 No- 4
Theme: Advanced technology is important for the Rolex
9
Yes No
0
2
4
6
8
10
12
14
16
Column B