Managing a Successful business Project with Globalization Assignment

Managing a Successful business Project with Globalization Assignment

LO1

Introduction

This task is related to the aims and objective of the globalization. It will talk about the plan which is made to make the successful. Scope, risk  and time will also be described below in this task. 

P1 Devise project aims and objectives for a chosen scenario. 

The assignment is going to show the project management plan of an organization. When an organization used to run unethically it will face backlashes. The organization was so distorted that the company owner and senior manager decided to re brand the company. The have decided to work under ethics and decided to be highly social. The manager has decided to propose a new project management plan for the organization (PETERMAN, 2018).

Globalization refers to the change from the self-contained environment to the more interacted environment. Globalization in business is the change in the business prospectus of a company restricted to any once country to more other countries where that business can do well. The Impact of globalization can be categorized into two parts: 01) market Globalization 2) Product globalization.

Market globalization helps any business to expand in other countries too. Due to the lower tariff rates it makes the consumer price for any product lower than ever and it helps any business to expand in foreign countries. It also means that he culture and the kind of people of any particular country should be considered as the culture of every country is different and it can hinder the product market.

Product Globalization: Product globalization is the purchasing raw materials and services of any particular product from different countries having lower raw material price and also to assemble in ye different country having lower labour cost .this is called product globalization. China is one of some countries which is famous for most of the company’s manufacturing hub.

Effect of Globalization: There are following effects of globalization on businesses:

It increases completion among the companies. This competition forces companies to increase their product quality which ultimately profiting the customers.

Every company needs to enhance the quality of their product because of the competition which overall raises the technology and also forces the companies to adopt more and more technology.

Due to good competition employment also increases people of different countries starts getting employment.

There are some negative impacts of the globalization also such as unemployment because companies are outsourcings their work from developed countries to the developing countries due to the less wages prices which led unemployment in developed countries.

Aim and objective of the organization: The main aim of the project is to rebrand the company to restore the organization (PETERMAN, 2018). The new company will have a fresh start and will follow ethics and socially reliable.

By the aim the company is going to follow some ethics such as:

  1. To start a fresh business
  2. To make company ethically correct.
  3. To make company socially responsible.
  4. To make the company expansion. 
  5. To fulfill the needs and desire of the customers. 

P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources.

A Project management business plan:

Cost: To finish the total project some amount of finance is required which is called the aspect of the company or project. There are some aspects on which company cost is dependent on such as bills, risk estimation, and labor rates etc. a cost management plan is the plan which is used to control cash flow, to control the financial structure of the company. The project cost configuration plan is one of the most important phases of cost planning and it ensures that the budget of the organisation does not hinder (Kerzner and Kerzner, 2017). The cost management plan generally shows how an project is funded, controlled and executed.

Scope: If any organization is working spending money and time on any project plan, if it did not have any scope to, it should not be done. A big challenge which encounter on to a new project is the future scope of the project. Project scope is a part of project which determines the list of documentation and deliveries such as goals, features and figures. It is to be noted that scope can hinder the project in both positive and negative way. Before explaining what are the project scope it should be known about what the product scope are. What is the requirement of the product, if the requirements of the clients are fulfilled then only the future scope is good?

Time: There is basic time required to work on any plan. This is considered till the end of the project. There is a direct relation between the result and the scope of the plan. It is one of the 10 knowledge areas to a project management. It is the discipline of a project manager to work in the given time. There are 7 processes in project time management in a business project.

  • Plan schedule management
  • Define activities
  • Sequence processes
  • Estimate activities
  • Estimate activity Durations.

Project Schedule: It is the step where policies, procedures and documentations needed to manage the schedule of the business. The output of this planning is to make a schedule of management structure (Kerzner and Kerzner, 2017).

Define Activities:In this area,  data collect is done and prioritise the work into day to day tasks. The main output of this step is you will come with a list of day-to -day tasks.

Estimate needful resources: In this segment, before going to start the work first organizations need  to understand what are the resources required to achieve the needful. What are the human resources equipment required?

Estimate Durations: Every task during a business project has certain time required or a certain importance been given to the works. Analysing which work or task require how much duration.

Sequence Processes:In this segment they will have to Prioritise the work in a manner in which the work which is important and require less time and engagement.

Quality:  The quality management is required to ensure that all the work is going in an efficient way.

Communication:  The system of monitoring, planning and implementing of communication in and organization is termed as communication management.

Risk management: In a business management project, it is the necessary steps taken to counter the risk in any project of any organization and also to nullify the possible risk in the future projects (Kaplan, and Mikes, 2016)

Resources: Resource availability, resource utilization etc. are comes under resource management. The most important thing is the allocation of the resources.

P3 Produce a work  breakdown structure and a Gantt chart to provide timeframes and stages for completion.

As the company wants to re brand there are following steps for the work break down structure:

Step 1: Initiate the definition of the complete scope of rebranding, to provide what are the requirements to achieve the future scope defined.

Step 2:  for carrying the re branding program the ability to provide the work should to assigned in the project.

Step 3: Set up an aligned business for the project. Before rebranding to counter any financial issue arising business has to be align properly. 

Step 4: Analyze the amount of achievement of the particular task in the project.

Step 5: The information should be collected, defined at different levels.

Step 6: Analyze whether the rebranding will affect the organization in a positive way.

Gantt chart:

A Project business management Plan:

The Project of rebranding the organization goes through number of steps which are:

  • Permit the definition of the scope of re branding.
  • The senior manager who thinks that the rebranding of the company will affect the organization is a very positive way will provide the future aspects of the company.
  • For carrying out the program, the ability of work will be provided in the project.
          • The total steps will take place how the rebranding will be done what will be the steps to achieve.
  • Set up a Controlled frame for rebranding.
          • The project manager will have to take some measures to control the risk which will be facing in the project.
  • The information should be collected at appropriate levels of the organization.
          • The managers will go through the positives and negatives of the business plan and will analyze it. The research will be conducted by the organization in a qualitative and quantitative way (Unluer, 2012).
  • Analyze whether the Rebranding will affect the company in a positive way or not.
  • Find out the problems and difficulties during the project plan.

(Figure 2: Gantt chart of globalization Project)

(Source: By Author, 2018)

M1 Produce a comprehensive project management plan, milestone schedule and project schedule for monitoring and completing the aims and objectives of the project.

Project management plan: There are many big and small advantages of a project management. A project management defines the reliability and scope of the business plan. The plan also finds out some major perks and limitations of any project. By the project management the manager can understand risks involved in the project. There are also certain limitations of any project such as: miss directing of any project, probability of any project etc. to establish the fact that the research is going in the correct way the project managers will conduct some small-scale research mainly on two bases the qualitative research and the quantitative research (Unluer, 2012). A bad quantitative research can lead to a bad production unit. It also affects financial condition of the organization.

(Figure: Milestone Scheduling of Globalization Project)

(Source: By Author)

D1 Critically evaluate the project management process and appropriate research methodologies applied.

 In any project management process aim and objective have been chosen. The project manager has to find out the objectives. By those objectives the project manager will start the business project. The basic aim of the project manager is re branding. A work breakdown structure has been built because it makes the work easy. The project manager can find out the milestones of the project. Therefore, a mixed methodology has been defined in rebranding scenario.

Conclusion

This is being concluded from the task about various resources which are used in making a business project successful. Various objectives and aims were set so that the theme of globalization can be justified in each stage.

References
  • Kaplan, R.S. and Mikes, A., 2016. Risk management—The revealing hand. Journal of Applied Corporate Finance28(1), pp.8-18.
  • Kerzner, H., and Kerzner, H. R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. 
    1. PETERMAN, R., 2018. What is Project Management? [Online] Project-management. Available at: https://project-management.com/what-is-project-management/ [Accessed 30 January 2019]. 
  • Unluer, S., 2012. Being an insider researcher while conducting case study research. Qualitative Report17, p.58.