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Managing a Successful Business Project

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Table of Contents
Introduction .................................................................................................................................................. 5
Task 1: LO1: Establishing project aims, objectives and timeframes based on the chosen theme. .............. 6
P1. Devising project aims and objectives for a chosen scenario. ............................................................. 6
P2. Producing a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources. ......................................................................................................... 6
P3. Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion ................................................................................................. Error! Bookmark not defined.
Task 2: LO2: Conduct small-scale research, information gathering and data collection to generate
knowledge to support the project ................................................................. Error! Bookmark not defined.
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives ............................... Error! Bookmark not defined.
Task 3: LO3: Present the project and communicate appropriate recommendations based on meaningful
conclusions drawn from the evidence findings and/or analysis................................................................. 11
P5. Analyzing research and data using appropriate tools and techniques ............................................. 11
P6. Communicate appropriate recommendations as a result of research and data analysis to draw
valid and meaningful conclusions ........................................................................................................... 11
Task 4: LO4: Reflect on the value gained from conducting the project and its usefulness to support
sustainable organizational performance. ................................................................................................... 13
P7. Reflect on the value of undertaking the research to meet stated objectives and own learning and
performance ........................................................................................................................................... 13
P8. Prepare a logbook of activities that taken place during the project ................................................ 14
P9. Performance review .......................................................................................................................... 15
Conclusion ................................................................................................................................................... 16
Bibliography ................................................................................................................................................ 17

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Introduction
Globalization to put it plainly, focuses on making the world a community. Products that were
just found in western nations would now be able to be found over the globe. Globalization is
making the world smaller every day. Globalization can likewise be characterized as a continuous
procedure by which territorial economies, social orders and societies have turned out to be
coordinated. The procedure of globalization incorporates various components which are quick
innovation improvements that make worldwide correspondences conceivable, for example,
transportation improvements which make voyaging quicker and more continuous. These deliver
more noteworthy improvement open doors for organizations with the opening up of extra
markets, permit more noteworthy client harmonization because of the expansion in shared social
qualities, and provide an unrivaled focused position with lower working expenses in different
nations and access to new simple materials, assets, and speculation openings. Globalization
brings changes to the manner of operating business activities on a large scale. Every scope of a
business operation has had an impact of globalization. Adapting to the changes that globalization
brings forward are often difficult however this could bring competitive advantages in business.
Subsequently, business operations need to adapt and adjust to deal with the changes and
challenges that come with globalization. In this report, the impact of globalization on different
business function such as business operation, marketing, accounting, human resource and so on
have been discussed in terms of culture, economy and ethic and the way organizations have
adapted to the changes carried by globalization

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Task 1: LO1: Establishing project aims, objectives and timeframes based
on the chosen theme.

Aim is the ultimate goal or the long term goal whereas objectives are short term goal or specific tasks
which help to achieve the ultimate goal. A business projects aim and objectives are defined in the same
way.

P1. Devising project aims and objectives for a chosen scenario.

Project Aim

The aim of the project is to find the positive economic, cultural, and ethical impacts of
globalisation on different business functions such as business operations, marketing, human
resource, accounting and so on within organizations and how to adapt with the changes and
challenges of globalization to maintain a successful and sustainable organization.

Project Objectives

To carry on the project and business operation smoothly with digital transformation, objectives
are as below:

 Consulting with experts for appropriate digitalize solution

 Using of “Outside-in and Inside-out” approach
 Creating “Company-Wide Digital transformation” strategy
 Planning for budgetary control

P2. Producing a project management plan that covers aspects of cost, scope,
time, quality, communication, risk and resources.
Project Management Plan

A legitimate project administration and management is essential for a successful project.

Organizations are adopting different techniques to get a sustainable result. Here, the SMART
rule was followed to assess the project management plan(Bender, 2004).

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Specific: The set up should regard the particular targets to succeed in the goal. The management
set up should embody the particular plan in adapting with the changes globalization brings within
the organization.

Measurable: Timeframe is fundamental in project management. The project management set up

ought to embody the timeframe of achieving the set up.

Achievable: It is need to be assured that the project is achievable in any circumstances

regardless of what it is.

Realistic: The project plan is a realistic plan. It is very possible to find the impact of
globalization on different business function such as business operation, marketing, accounting,
human resource and so on have been discussed in terms of culture, economy and ethic and the
way organizations have adapted to the changes carried by globalization

Realistic: The plan to attain the business project is realistic. The digital technological
advancement can be implemented in the business activities.

Time constrained: The project plan has a four month time frame.

 Consulting with experts for appropriate digitalize solution

Though companies are aware of digitalization practices for business, it becomes quite
challenging to bring the appropriate automaton solution for Company. Consulting with experts
for appropriate digitalize solution can eliminate such circumstances. Even, there are many
solution provider consultants and agencies those come up with designing suitable digitalized
system for companies.

For example, some of them are All of Us, AnalogFolk, BAE Applied Intelligence, Born, B–Reel,
Code Computer Love, PwC and so on.

 Combine business strategy and technology

Consultants or agencies can give suggestion for high quality digital tools which can assist
business to be creative, strategic, analytical, proper functioning within limited time. They
provide solutions according to the business strategy so that, Company can acquire probable
outcomes with the help of these technical solutions.

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  Create competitive benefit

Another initiative of taking help of expertise is strengthen competitive advantage. These

consultants and professionals provide digitalized solution in accordance with Company’s core
business capabilities to adapting digitalized technology without any barrier in business.

 Using of “Outside-in and Inside-out” approach

Outside-in approach in business strategy is bringing the internal capabilities and scope for
strengthening a Company and Inside-out strategy is making changes according to the customers’
desire and expectation. As digital transformation can bring changes in every pace of functions, it
is difficult to overcome the fear of adapting new technology in organization’s culture. (Devadass,
2017)

 Creating “Company-Wide Digital transformation” strategy

If companies can implement “Company-Wide Digital transformation” strategy, it will be easier

to acclimatize digital disruption and transformation. This strategy indicates that digital
transformation needs to be applied to each individuals and each department within the
organization. To survive in the long run, not only one or two department, but digital
transformation is applicable for every related sphere of an organization. (Hoch, 2017)

 Planning for budgetary control

Companies need digitalized solution and transformation because of customers’ demand, value
creation and expanding businesses. While formulating automation solution, it needs to consider
that how much organization can deal with from financial plan. Hence, company can avoid
dangers over budgetary issues involving in digital transformation.

 Constraints

The main constraints of this project are budgetary issues, finding reliable consultant firms,
limitation of skilled employees and time constraint are the main limitation in this project.

 Skilled Human Resource

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This project will require employees from each department who will communicate with expert or
consultant agency regarding digitalize solution for organization. If Company has five
departments, then five experienced and skilled managers from each department will have major
discussion regarding the automated solutions. After that, each member of the organization will
be clarified and instructed regarding the changes. They need to be trained up thoroughly to cope
up any issues which can be arisen from digital transformation.

 Project schedule and milestones

Estimated duration for this project is 6 months. As employees need to adapt and implement
digitalized techniques for business operation, so, the time length should not be too long or too
short. It can be seen that, this project can be conducted or review two times in a given year.

 Budget/cost estimate

Budgetary planning or budget can be varied with time. As experienced and skilled managers will
deal with consultant firm or agencies, they will negotiate and handle the costing in accordance
with forecasted budget. (Issott, 2018) & (Issott, 2018)

The main estimated costing will be segregated into these following segments:

Digital solution from consultant or agencies: Average at $121.75 per hour

Digital solution from outsourcing: $50 per hour

Training cost per employee: Average at £1,000

Globalization has been happening on a large scale; at the same time clients' need and desire are
additionally in quick evolving pattern. Organizations need to embrace the change and reform
accordingly. Initially, assessing the current digitalized framework includes with examining the
past and required robotization arrangement. It recognizes the hole which can be prevented the
future development of the organization. From that point onward, representatives need to
accelerate their abilities

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  Risk Management

Though digitalized technology is necessary for business growth, lack of assessing and analysis
can create negative impact on business. As this transformation is reshaping the whole operation,
thus risks are also associated with the procedure. So, organization needs to identify and maintain
the shortcomings out of digitalized transformation in business operations.

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Task 3: LO3: Present the project and communicate appropriate
recommendations based on meaningful conclusions drawn from the
evidence findings and/or analysis

P5. Analyzing research and data using appropriate tools and techniques
With the help of the thematic analysis and coding, qualitative research technique was used here to
conduct the research and analyze the data.

Interpreting data: One on one interview of the employees was conducted to understand the positive
impacts of globalization within organization in terms of economy, culture and ethics. The interview
session was long and extensive. The interview was recorded for further necessary analysis

Checking the data: Data that were collected through research were analysed for evaluation

Understanding: How the employees within an organization feel about the changes globalization brings
to the business functions.

Coding the information: The data from the research were coded which means to sort and organize all
the data.

Thematic analysis: After coding the data, finding and analysing pattern within the collected data.

P6. Communicate appropriate recommendations as a result of research and

data analysis to draw valid and meaningful conclusions
From the research data, it is clear that for a sustainable growth business organizations need to
jump in on the globalization bandwagon to get the best out of it. Globalization is not a new
phenomenon. It has been happening for a while now and the possibilities it offers are enormous.
Even the it can affect a business organization in a negative way, the positive impact it can offer
to a business organization overshadow those little setbacks and with proper understanding of
how globalization can have positive economic, cultural, and ethical impacts of on different
business functions can help in avoiding those setbacks and get the best out of globalization. For
instance, since we can take a business to the internet, the potential customers are no longer
bounded by the regional barrier, and as I said earlier, about how business organization should

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jump on the globalization bandwagon, that is to say that, business organization should find ways
to connect to the potential global customers to grow their business which as a result will offer
the possibility of boundless expansion and success. Furthermore, it is absolutely fundamental for
business organizations to adapt the necessary skills required for incorporate with globalization,
and also adapt to the changes and challenges it brings with it.

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Task 4: LO4: Reflect on the value gained from conducting the project and
its usefulness to support sustainable organizational performance.

P7. Reflect on the value of undertaking the research to meet stated objectives
and own learning and performance
Student Name:

Project Title: Managing a Successful Business Project

 Brainstorming about ideas

 Planning the project
 Making a work plan
Key steps of the project:  Use researching methods to collect data
 Analysing the collected data
 Implementation of the project
 Evaluation

Having being part of the project the things I have learnt

What is my greatest The most important learning is the way a project can be designed and
lesson from this the way the project can be executed steps by steps in Business
project? Operation.

Have I developed any Integrated communication skill, managing skill and researching skill
skill during the project? have been developed during the project.

Skill I need to work on

Communication skill needs to be developed for the next project.
for future projects.

Changes I would like to

If I had chance to do the project again, I would do thorough primary
make if I had the chance
research to get accurate solution.
to redo the project

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 Project fulfilment

Did the project achieved

I think it certainly did
its aim

Factor that influenced

In depth research and analysis of the research data had a major
the success of the
influence behind the success of the project.
project

P8. Prepare a logbook of activities that taken place during the project
I have worked on a research paper on the positive impact of globalization in terms of culture,
economy, and ethics on business functions such as marketing, operation, human resource and so
on. Below is the logbook of activities that have taken place during the project.

Title of the project: “Managing a Business Project ”

Date:

Completed Work

Collected primary and secondary data by conducting relevant research, and analysed the
collected data.

Completion of the required task

All the tasks that were asked to be fulfilled in the guideline was fulfilled.

Meeting the deadline

The task was completed and submitted within time frame, therefore, a well-managed project.

Necessary changes

No change was required.

Risk and Challenges

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 No specific risk were related with the project, however collecting primary and secondary data
offered a few difficulties.

P9. Performance review

The project demand was how the globalization culturally, economically and ethically impacts positively
the business functions such as marketing, operation, human resource and so on. Since the aim and
objectives were fulfilled. It can be said that the project was successful. For example, to maintain a
sustainable organizational performance the organization needs to address globalizations in a
manner that can bring positive changes. There were few difficulties we were faced with along the way
such as proper understanding of the positive impacts of globalization on business function from cultural,
ethical and economic point of view and how to adapt to the changes it brings about and find ways to use
those changes in such a way that will bring success and sustainability. However, in the end, we were
able to overcome those challenges. Furthermore, we always had to be on our toes to make sure that the
time frame was maintained. Although the project was a success and there were so many positive things
to take away from the project, there were times I fell short of what was required and it shows that there
are areas to improve for future. It was fun to learn new skills and gather knowledge about many things
that were previously unknown to me. Finally, it is safe to say that the successful completion of the
project generated a sense of achievement.

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Conclusion
To fulfill the aim and objectives of a business project, there needs to be proper planning, organizing
tasks and implementing them. It requires extensive researches, both primary and secondary, in depth
analysis of those research data, and incorporate those research data in the organization to achieve the
desired goals. Therefore, it is a no brainer to make the plans with a specific objective in mind.
Furthermore, it is important to remember that the time frame needs to be met at any cost. Only proper
researches and actions in accordance with the research data can make a plan successful. On the other
hand, the business project plan enhances the performance of the total workforce in the business
context. The globalization expands the scope of the business activities which as a result impacts the
business functions such as human resource, marketing, accounting and so on. So it is imperative to
comprehend what impacts globalization has in this context.

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