Managing A Successful Business Project

Managing a successful business project 1

Managing a Successful Business Project

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Managing a successful business project 2

Managing a Successful Business Project

In order to ensure that a business project is successful managed there must be an

application of the necessary skills, efficient information on the method to be used and the skills

needed for efficient management. Successful project management also requires experienced

personnel in order to ensure that the project objectives are achieved. In any particular project,

there are a number of tools and also techniques that are needed to be employed by the project

management team for the project to succeed. Unavoidably, a project manager has to have to be in

the front line in directing the team members on what to do in order the project to succeed. This

means that the manager of the project plays a major role in the success or failure of the project.

Therefore, he or she has a duty to plan the order of activities and also the amount and type of

resource to be used in the project. The manager also plays the role of motivating team members

and ensuring that the customers are satisfied with their services. Lastly, he or she should also be

a good time manager and an accurate budget keeper and also be able to identify risks and provide

a solution to them.

Aims and Objectives of the Project (LO1)

The main aims and objectives of any particular project are to ensure that the project

outcomes are of high quality and in accordance with the agreements among the stakeholder, the

customers, and the owners. However, the quality and standards of a project are determined on the

bases of the organization's cultures and principles. Therefore, a good and efficient process of

management needs to ensure quality project planning. In addition, risk assessment is also

important to ensure the success of the project, (Baig 2016). Baig argues that the manager of the

project should analyze the risks which might be involved adequately. By analyzing the risks, the

project managers acquire tolerance to any shortcomings which can negatively affect the success

Managing a successful business project 3

of the project. Because of increased growth of organizational project management in the globe,

organizations compete on who to emerge the best (Ponomareva, Gergert, and Ponomareva 2015).

Therefore, in order for an organization to emerge the winner, it must be careful in selecting

managers who are skilled and experienced. The project manager should know which best method

to use, the necessary techniques needed and the rules to be followed. The project should also

have a defined starting date and ending date. This will, therefore, encourage people to keep time

and work in accordance with the time set.

Impacts of Digital Technology on Business Activity (LO 2)

Digital technology affects performance of a project depending on what kind of project it

is. In most cases, the business projects carried out nowadays are very dependent on modern

technology. They rely on technology in marketing their goods, determining the number of

customers they have, in transporting the products and most importantly in ensuring transparency

among the customers and the management team. Digital technology, therefore, plays a major

role in ensuring that the business activity succeeds. This is because in most cases marketing of

the products is online by the use of mobile phones and computers. Calculators, on the other hand,

are used in various calculations in the business.

The Project Outcomes and Decisions Made by the Companies (D2)

Both mobile and fixed telephones of telecom provide a wide range of connectivity

between people and numerous businesses. For example, the company got into operation in the

year 2006, within a few numbers of years it had achieved a large percentage of shares in the

market. This company has also continued to grow at a high rate. On the other hand, the Huawei

Company has been on the lead globally in providing ICT solutions and in smart devices

Managing a successful business project 4

production. Sometimes the two companies merge so that they can combine their techniques,

methods and management skills so as to achieve their set goals and objectives.

The reasons why these two companies decided to partner was to make sure that they

create digital technology equipment to change their business performance to high-quality

performance. This enabled the expectations of their customers, workers and also the management

team to be met. In addition, the collaboration increased their chances of succeeding since they

enhanced teamwork and borrowed each other's ideas which led to quality outputs in the end.

Aims and Objectives of the Project (P4)

Before the implementation of a project is starts, there must be well-defined goals and

objectives which the project aims to achieve (Lewis 2011). These goals and objectives are put

down according to the nature of the project. The goals and objective of one project cannot be

exactly the same as the objectives and goals of another project. This is because the projects are

aimed to perform different tasks. However, sometimes projects can have a common goal or a

common objective. Example to develop Huawei mobile phones and project to develop Samsung

mobile phones.

Each and every project aims at increasing the amount of profit it will gain from its

project. For a project to be able to generate a large amount of profit then it should be able to

provide its customers with the quality services according to their needs. A project also aims at

being the most innovative in all areas so that it can be on the lead in the competitive market.

When the level of innovation is high, customers are more attracted to the products produced and

therefore more profit is gained (Gladden 2013).

A project also aims at overcoming the challenges it faced in the past, the challenges it is

facing in the present and prepare for challenges that it might face in the future. The present

Managing a successful business project 5

challenges might be for example the new customers on board, new board members and also the

production of alternative products. When the customers are new they can be requested for some

adjustment in the product and therefore the management should be flexible to accommodate that.

When there is a challenge of another project producing an alternative product, for example,

another type of lotion, competition sets in. this challenge can be overcome by the organizations

finding ways to market and advertise its products more in order to conquer the competition

challenge (Quartararo, Bottolfson, and Jimenez 2016).

Providing customers with new services is also an objective considered by most projects.

When a project is providing a wide range of services to its members it is likely to grow faster.

This is because the customers are maintained in the same project. For example, the coca cola

company provides a range of services to its members. For example, a company of making

Samsung phones can begin to conduct promotion services to members who use Samsung mobile

phones. By doing this they will attract more customers to themselves and the company will grow

at a faster rate.

Projects also have an objective of motivating its workers and staff members at some

levels. The workers can be motivated by awarding them, taking them for a treat or even

promoting them. By doing this their mood of work is motivated and therefore they become more

encouraged to work harder to take the project services into another level (Rose and Levin 2013).

The management can also acquire personal vehicles for the workers together with high tech

equipment. This helps in saving time and ensuring that the product produced is of high quality.

Improving the relationship with customers is also an objective pursued by most projects.

When there are smooth communication and transparency between the organization and the

customers there is a high degree of the organization being successful. This transparency enables

Managing a successful business project 6

the organization to know what the customers need and therefore they produce according to their

desires. A project also aims at branding its produce. The branding will enable easy recognition

and advertisement. This helps to avoid confusing the commodity with other commodities.

Projects also have an objective on building and enhancing the capacities of the people. In

a case where the commodity being manufactured is very new to the user, the management team

takes an initiative of teaching people on how that particular commodity is used (Svejvig and

Grex 2016). Example a phone the production of phones, people were taught how to use them.

Thereby, by doing this their skills and knowledge are enhanced. In addition, a project should put

into consideration the effect that a particular project will have to the people and the environment

at large. The project manager should make sure that the project activities do not deplete or

pollute the environment Heuwing, Mandl, &Womser-Hacker 2016). In case the project has some

effects on the environment, the necessary precautions should be applied.

Project management has the aim of providing high quality and quantity products to its

customers. When the products are of high quality, the customers will be satisfied and will be

willing to purchase the products produced. In addition, the products produced should be of a

relative price. This is to ensure that the customers do not feel exploited and that the organization

will not feel wasted. The project managers should, therefore, use the market prices to put a value

on their product.

Literature Review (D1)

Organizations have been determined to grow internationally because of the advancement

in technology. This, therefore, has made competition to be very stiff. However, this has led to

project management moving to another level due to the introduction of new ways to improve the

performance of the business. In order for the project manager to conduct quality management, he

Managing a successful business project 7

or she should carry out a review of the literature to use. This will include the type of methods

which can be employed in modern projects. This review helps managers in decision making and

in choosing which method to use in which project. Some methods are more applicable in some

projects than in others, therefore, the manager should have that knowledge. The manager should

also set time in which the project will begin and end. Therefore, for better management, the time

should be well kept and avoid taking too much time in one project. In addition, a literature

review is necessary since the management of the project is growing at a high rate.

Plan of Project Management, Milestone Schedule and Project Schedule (M1)

One of the main objectives of the management team is to provide their customers with

new services together with paying attention to their needs (Mercado 2016). In addition, the

project management team also aims at providing solutions to their personal problems by making

themselves available in sorting out of issues. The team also does the analysis of the quality of

services being offered by other companies globally so that they can compare themselves and also

try to provide services of better quality. The project management team also goes further to

include milestone in order to ensure the success of the organization.

Milestone focuses on the quality of the products and the services (Wellman 2006). The

management board, therefore, assumes the obligation of making sure that the customers are

provided with high-quality products and services. This helps in attracting more customers. The

management also ensures that the products produced are sold at favorable prices to enable many

customers to be able to afford. The prices have to be reasonable so that the customers will not

feel exploited and on the other hand, the organization will not incur losses. Lastly, project

management should ensure that the project is not prematurely terminated. Irrespective of the

Managing a successful business project 8

numerous challenges that the project can face during its execution process, the project team have

a duty to ensure that the project completes on time and that the budget of the plan is kept.

Methodologies (P5)

Methods of research in project management are the steps which can be followed in the

management of a project (Yuen 2012). Each method used provides the manager with the

principles to consider and the guidelines to follow in order to be able to handle and manage the

project (Indelicate 2012). Considerably, the type of methodology to be used to direct the

management team to select the risks to consider and the opportunities available for the particular

project. Failure to use the appropriate method can have negative effects such that there can be a

breakdown of the project management (Rozenes 2011). The manager, therefore, should be

careful and very selective on the method to use to analyze the project.

The Reliability and Accuracy of Different Methods of Research (M2)

Fundamentally, one of the most efficient and reliable methods used in project

management is the six-sigma method. This method is important in pointing out the various

problems that business and organization is going through. This method is also data-driven

(Duncan 2017). This means that it uses accurate data in its operation and therefore this makes it

very competitive in the market. Six-sigma method, therefore, includes the new techniques in the

market which are being used by various firms to ensure its success. It is characterized by making

high quality and quantity improvements in the business, therefore, be considered as the

management system of the business. In addition, six-sigma method is always based on true data

and figures and does not make assumptions.

Tools for Measuring Accuracy (P6)

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When doing research, there are particular methods of research that are used in the study

process. These methods should ensure accuracy to avoid biases in the data collected (Ruan,

Kacprzyk and Fedrizzi 2001). When project managers employ the methods they are likely to

achieve their set goals and objectives on time. The methods that are used in the establishment of

the strategies to follow and in ensuring that the project succeeds are the following.

Data Collection and Analysis Method (LO2)

This method was used to sample data from employees in particular companies for

investigating the management strategies of the project. Questionnaires together with interview

questions were prepared. These we used to find out the views of the project (Xeujun, Bingqian

&Jiaxu 2018). Those who were involved as participants were the members from respective

companies while the employees targeted were those who could do management activities.

Techniques and Tools Used for Accuracy (M3)

The interview guide was used by the researchers as the key element in data collection. In

addition, a lot of time was involved in the interview so as to give the interviewers enough time to

ask all the questions that they have (Duncan 2017). The interviewers were also given time to

seek opinions from the people and also get comments. This, therefore, enabled the researchers to

obtain a wide-ranging study containing most of the required information. In addition, a

qualitative analysis also was used to analyze the content and compare with the information

obtaining during the interview processes. This analysis was carried out to find out the benefits

derived from corroborating of the management teams of both companies. The data collected was

then encoded so as to enable the researcher to make conclusions based on the findings.

Reflections on the Importance of the Project (P7)

Managing a successful business project 10

The findings, in the final analysis, showed that due to the collaboration of the Huawei

and Telecom companies, the companies' chances of succeeding in the project were high. Both

companies, therefore, ended up achieving results of high quality (Nijkamp 2005). This was

because they had met all their set goals and objectives and also they had satisfied the needs and

expectations of the customers. In addition, both companies were able to set free their workers

and assign them new responsibilities. This led to an increment of the efficiency and quality

services which made things easier for the staff to handle.

Therefore, during the final analysis, both companies used only one team to manage the

whole project. This, therefore, promoted the degree of transparency in communication amongst

the staff members. This transparency also extended to the stakeholders, the customers, and the

suppliers (Andersen & Grude 2018). The company, therefore, could manage resources and costs

according to their level of budget. Therefore, the activities carried out in the project management

of both Telecom and Huawei became very successful. This, therefore, proved that when proper

management is conducted and appropriate method used in the project analysis, the project is

likely to succeed.

In conclusion, quality management is essential to ensure that the projects become a

success. The project manager, on the other hand, should be experienced and well skilled to

ensure that the management activities are carried out in a systematic order. In order to achieve

desired outcomes and avoid more risks and a large budget, companies with similar goals and

objectives can come together and help each other out. In project management also, appropriate

and accurate methods should be used in the collection of data. This helps the management to

know the needs and expectations of the customers and therefore provide to them according to

Managing a successful business project 11

their expectations. In addition, in the process of project management, modern technology should

be used. This helps in making work easier and the product produced are of high quality.

Managing a successful business project 12

Reference

Andersen, E. and Grude, K. 2018. Our tribute to Rodney – And the importance of Goal Directed

Project Management. International Journal of Project Management, 36(1), pp.227-230.

Duncan, W.R., 2017. A guide to the project management body of knowledge. Newtown Square,

Pennsylvania, USA: Project Management Institute, pp.48-56.

Gladden, R., 2013. Project Management for Flat Organizations: Cost Effective Steps to

Achieving Successful Results. Project Management Journal, 6(44), pp.e4-e4.

Heuwing, B., Mandl, T. and Womser-Hacker, C. (2016). Methods for user-centered design and

evaluation of text analysis tools in a digital history project. Proceedings of the

Association for Information Science and Technology, 53(1), pp.1-10.

Indelicate, G., 2012. Book Review: Project Management Metrics, KPIs, and Dashboards: A

Guide to Measuring and Monitoring Project Performance. Project Management Journal,

43(2), pp.102-102.

Lewis, J. 2011. Fundamentals of project management. New York: Amacom.

Nijkamp, P. (2005). A Multicriteria Analysis for Project Evaluation: Economic-Ecological

Evaluation of a Land Reclamation Project. Papers in Regional Science, 35(1), pp.87-111.

Ponomareva, T., Gergert, D., and Ponomareva, T. 2015. Importance of Integrating Sustainability

Principles into Project Management Competency Standards. Russian Journal of Project

Management, 4(3), pp.9-78.

Quartararo, M., Bottolfson, T., and Jimenez, R. 2016. Project Management in Electronic

Discovery. Minneapolis: Michael Quartararo and eDiscoveryPM.com.

Managing a successful business project 13

Rose, K. and Levin, G. 2013. Book Review: Enterprise Project Governance: A Guide to the

Successful Management of Projects across the Organization. Project Management

Journal, 44(1), pp.107-107.

Rozenes, S. 2011. The Impact of Project Management Methodologies on Project

Performance. International Journal of Information Technology Project

Management, 2(2), 64-73. doi: 10.4018/jitpm.2011040105

Ruan, D., Kacprzyk, J. and Fedrizzi, M. 2001. Soft computing for risk evaluation and

management. Heidelberg: Physica-Verlag.

Svejvig, P. and Grex, S., 2016. The Danish agenda for rethinking project

management. International Journal of Managing Projects in Business, 9(4), pp.822-844.

Wellman, J. 2006. Book Review: Successful Project Management: A Step-By-Step Approach

with Practical Examples, Fourth Edition. Project Management Journal, 37(4), pp.75-75.

Yuen, R. 2012. Project Evaluation Methods. SSRN Electronic Journal.

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