Introduction Of The Project Management For Business Assignment

Part 1- Project selection

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This is the project of digital innovation understanding factor which is required for new company addition. Here the “La Nueva Limited” is a business which tries to evaluate different types of projects to define several future potentials. This project is going to concern the business feasibility and ability checking process for future development. This UK based company carries different electronics products which are assigned like mobile phones, Wi-Fi router, digital audio speakers etc. in the present this has a consistent growth in their profit margin, a normal revenue is generated by their acquisition of about £7 billion. Chosen project proposals will be evaluated with project examination tools.

Part 2- Project Initiation Document (PID)

1. Project Introduction

According to Appendix 1 the table evaluation shows the information of which project proposal is going to provide future concern as well as profit to this “La Nueva Limited”. This table contains the weighted average performance of all project tools. First section provides a score about three objectives that are impacted on the proposals project. Then in the next part selection will be assigning with calculating the weight of total factors. Table score has been taken to define weighted score and this calculation process has been completed in Excel. After evaluating the total weighted average Project two smart homes are going to be concerned because this has the highest weighted value according to others' proposals.

2. Critical success factors of the project

According to Mallisetti, Dolla & Laishram “Motivations and Critical Success Factors of Indian Public-Private Partnership Unsolicited Proposed” journal that Critical success Factor is a kind of identification and development section which is adopted by unsolicited proposal factor. This is important to find out forge and future motivation factors to implicate poor affection (Mallisetti, Dolla & Laishram, 2021). This process provides motivation to the firm as well as other people to make profitable changes in the project process. Half of adjusting a significant response extract from this projection part which is very important for any business as well as for this “La Nueva Limited” of UK.

Critical Success factors

According to Herath & Chong, 2021 published journal “Key Components and Critical Success Factors for Project Management Success: A literature review” provides the information of CSF for project evaluation. This paper said that normally CSF is used to define the observation and analysis of cultural working acquisition for future benefits. Every project has a different factor which provides critical affection (Herath & Chong, 2021). As per this author here chosen project “smart home” also has some critical factors that are implicated in the following part.

• Project human resource management- Here these elements are going to include project management concerning the factor, leading and managing factor of the team for the assignment. This one used to provide detail about every person's role and responsibility.
• Design package for project- This one is most important and considerable that beside every HR management well formulated project design should be concerned. For this project the first thing has been expanded that the service of this product is going to provide to the consumer.
• Project stakeholder Management- Stakeholder of the project is one kind of person who stands that this project is going to deliver a deliverable profit (). ROI of this project has been found to be 15% with this stakeholder and risk factor going to evaluate which will help to understand the stakeholder management process.
• Project budget- Budget refers to the amount of requirement or a fund which provides detail of allocating for the client. This one estimated the planning for expenditure about the resources, here the budget has been estimated at £150k.

Summary

This part is none different from other project reporting factors, summary going to realize the information what actually going to concern to define the most succeeding factor for the project. Businesses and companies are assigned CSF to make proper project processes. This smart home project has been assigned with many critical factors: budget, HR management process and more factors. Main purpose of this factor determines the motivation point for success.

3. Project Scope Statement

As per Jhonson’s 2019 journal “Inclusion and Exclusion in the Digital Economy: Disability and Mental Health as a Live Streamer on Twitch.tv '' has released the information about Inclusions. Inclusion is like some practice of act where people, historical information, exclude ration kind of information are included. This is one part of an entire group section. Process of this inclusion project is most important to provide further required information for project evaluation (Johnson, 2019). This project is assigned with AI technology and with the supporting budget time schedule and more digital affection.

Exclusions

According to Donda Rodrigues et al. 2022, the journal of “Exclusion and inclusion processes in Mathematics classrooms: reflections on difference, normality and cultural issues within three different contexts”. It said that exclusive is a kind of mathematical project affection where this is going to be used in project evaluation. This term is going to be used like actions, service, and task and item those are included as the scope of the project (Donda Rodrigues, 2022). Here all the factors are using time, software to define time calculation, stakeholder which are most important and as well as the risk measurement.

Assumptions

As per Gajdzik & Kopecec 2022, published Journal “General Assumption for Project Management in Industry ''. Purpose of this author to develop this paper is to find out project management. From this paper the collected information is going to assign requirements of this business project. In this report the assumption is more like believing and building constraints and planning for work (GAJDZIK & KOPE?, 2022). The most assumption has been cured in the table of the project tools. The element that has been created is how the service is going to impact the UK market. This estimation is going to set a strong media section for future attention. Also innovation and digital development have all been used.

Objectives

According to Stretton 2022, this “Series on project-related contributions to organizational objectives” journal delivers information about what actual objects meant in the project evaluation process. Objective is the aim and motive of this project. These things tell what the team wants to complete this project proposal. This “Smart Home” project proposal objectives are implicated in the following steps.

• Aim to produce this product for this business or company to get more profit or define the most effective profit earning project for the future.
• As digital innovation businesses produce new technological products and service is the most important action and this smart home compliance is going to provide digital service expanding factors (Stretton, 2022).
• Motivation of this particular project report to find out critical benefits provide affection and action to the management and other business departments.
• With the help of this process a legal, safe and good strategic environment serving the customer.

Deliverables

According to the Burghate, 2018 published journal “Work Breakdown Structure: Simplifying Project Management”, it has delivered some information on deliverables for working section projects. This process followed to include specific design and action to any project. Deliverability of project management is kind of what criteria are created to fulfill the project requirement. In this project selection and evaluation process three most important objectives have been created (Burghate, 2018). All these three actions help to define if the project is reliable or not.

Constraints

As per Mishra 2020 jornal of “IMPLICATION OF THEORY OF CONSTRAINTS IN PROJECT MANAGEMENT” carry the information of project management constraints. This one is a new concept for every project management enthusiast. This kind of thing normally used in the manufacturing company or business helps to remove the exploring constraints, performance dealing problems and more over subordinating action (Mishra, 2020). In this project the constraints are the tools of evaluation that should be more reliable which will be used by all management individuals.

WBS

Heagney has published a journal in 2022 of “Fundamentals of Project management” that carries the information of WBS. WBS is Work Breakdown Structure, this one is the identification of all kinds of tasks which are important to perform. This one is known as the good and effective graphical show process (Heagney, 2022). The following figures implicate the detail information of this project WBS structure.

4. Project Schedule

Gantt chart

According to Tereso et al. 2019, published journal “Project Management Practices in Private Organizations” has the information of using Gantt chart. Gantt chart is a planning process. It helps to make decisions by the executive department which make a fluent process to monitor and control all the progressing action (Tereso et al. 2019). Following Figure information deliver the information of Gantt chart structure and result in graphical way.

Milestones

As per Trainelli 2019, jornal “MAHEPA – A Milestone-Setting Project in Hybrid-Electric Aircraft Technology Development” has been used to determine the milestone for the project management. In this file all the action has been taken as the milestones and this is kind of different steps all the steps going to accrue after finishing one step (Trainelli & Perkon, 2019). The Figure 4 implicate the step-like milestone for this project proposal.

5. Project Stakeholder

Stakeholder Register

According to “STAKEHOLDER MANAGEMENT IN INDUSTRIALIZATION PROJECTS: AN AUTOMOTIVE INDUSTRY CASE STUDY” journal of Carvalho 2018, this paper has the information of stakeholder management which has stakeholder registration. This one is known as very usable as well as important to manage the project (Carvalho et al. 2018). Here this project proposal selection has the stakeholder registration which has been provided in the following chart.

Table A: Stakeholder Register chart

Stakeholder Register
Project Name	Smart Home	Date :
Project Phase	Planning & Evaluation
Name of Stakeholder	Role	Department	Role in Project	Type of Stakeholder	Type of Communication	Expectations
Robert Brown	Proj Director	Info system of Fradget	Project manager of customer
John Mike	Project Manager	Service of Contoso	Project manager of internal action
Roger steve	VP, CIO	Fradget & Inc.	Chairman of steering Committee

Stakeholder Grid

Graber et al. Journal of 2019 “Perceptions towards solar mini-grid systems in India: A multi-stakeholder analysis” paper has provided the details of stakeholder management and steps which need to follow for more effective results. This one is a kind of matrix which is used to categorize all the requirements for the business or project stakeholder (Graber et al. 2019). This one provides the relationship between all powers and interests. The following process is going to follow to determine this project stakeholder interest.

ROI of this project portion has been found of 15% which is not known as the good interest but this one is reliable to deliver a good return from project return.

6. Risk Management

Threads

Wakefiled 2020 published journal of “Making nature into infrastructure: The construction of oysters as a risk management solution in New York City '' describes the details of threds in risk management. Finding out all these points is important which makes project risk less or risk free for the future (Wakefield, 2020). Some threads also have been found in this “Smart Home” project which are implicated in the following part.

• ROI has been found 15% which is not good, so the stakeholder and the third investors can be inadequate for this.
• All the tools have been used as the assumption of the outcome result which cannot be as the same in future. This can affect the future process.
• This is high budgeting for the customer to buy.

Opportunity

Benabe journal paper of 2019, “Physics of Organization Dynamics: An AI Framework for opportunity and risk management”, risk opportunity is knowledge of the risk management process. This one help to considering the data with AI process, for this evaluation project the opportunity are come is like,

• The Smart Home project defines a very digital lifestyle (Benaben et al. 2019).
• Digital acquisition is going to expand in other markets and industries.
• Bring more profit in future. A lot of technology products.

Risk Grid

Risk grid of this project,

Table B: Risk Grid

Impact
Negligible	Minor	Moderate	Significant	Server
Very Likely	Low Med	Medium	Med Hi	High	High
Likely	Low	Low Med	Medium	Med Hi	High
Possible	Low	Low Med	Medium	Med Hi	Med Hi
Unlikely	Low	Low Med	Low Med	Medium	Med Hi
Very Unlikely	Low	Low	Low Med	Medium	Medium

7. Project Management Skill

Following things are going to be used to improve in this business project proposal report.

• Better teamwork and effective communication.
• Management process for time schedule.
• Best problem solving process and factors.

Critical thinking process.

Part 3: References

Journal

Benaben, F., Lauras, M., Montreuil, B., Faugère, L., Juanqiong, G. O. U., & Mu, W. (2019, September). Physics of Organization Dynamics: An AI Framework for opportunity and risk management. In 2019 International Conference on Industrial Engineering and Systems Management (IESM) (pp. 1-6). IEEE. Retrieved From: https://scholar.archive.org/work/ru7tzyaaafcmbmh3y3kuzxd5m4/access/wayback/https://hal-mines-albi.archives-ouvertes.fr/hal-02415464/document. [Retrieved on: 28/06/2022]

Burghate, M. (2018). Work breakdown structure: Simplifying project management. International Journal of Commerce and Management , 3 (2), 453-461. Retrieved From: https://www.ijcams.com/wp-content/uploads/2018/11/WBS-2.pdf. [Retrieved on: 28/06/2022]

Carvalho, H. J. F., Tereso, A. P., Fernandes, A. G. G., Faria, J. M. P., & Barbosa, J. F. N. D. S. (2018). Stakeholder management in industrialization projects: an automotive industry case study. Retrieved From: http://repositorium.uminho.pt/bitstream/1822/60935/1/Stakeholder%20Management%20in%20Industrialization%20Projects%20-%20ICOPEV%272018.pdf. [Retrieved on: 28/06/2022]

Donda Rodrigues, T., Malinosky Coelho da Rosa, F., & Pereira Manoel, A. (2022). Exclusion and inclusion processes in Mathematics classrooms: reflections on difference, normality and cultural issues within three different contexts. The Mathematics Enthusiast , 19 (2), 422-441. Retrieved From: https://scholarworks.umt.edu/cgi/viewcontent.cgi?article=1559&context=tme

GAJDZIK, B., & KOPE?, G. 2022, GENERAL ASSUMPTIONS FOR PROJECT MANAGEMENT IN INDUSTRY 4.0. Retrieved From: https://managementpapers.polsl.pl/wp-content/uploads/2022/07/Gajdzik-Kope%C4%87.pdf

Graber, S., Narayanan, T., Alfaro, J. F., & Palit, D. (2019, November). Perceptions towards solar mini?grid systems in India: A multi?stakeholder analysis. In Natural Resources Forum (Vol. 43, No. 4, pp. 253-266). Oxford, UK: Blackwell Publishing Ltd. Retrieved From: https://deepblue.lib.umich.edu/bitstream/handle/2027.42/152995/narf12181.pdf;sequence=2. [Retrieved on: 28/06/2022]

Heagney, J. (2022). Fundamentals of project management. Retrieved From: http://portal.belesparadisecollege.edu.et:8080/library/bitstream/123456789/812/1/Fundamentals%20of%20project%20management%20by%20Heagney%2C%20Joseph%20%28z-lib.org%29.pdf. [Retrieved on: 28/06/2022]

Herath, S., & Chong, S. (2021). Key Components and Critical Success Factors for Project Management Success: A Literature Review. Operations and Supply Chain Management: An International Journal , 14 (4), 431-443. Retrieved From: https://journal.oscm-forum.org/journal/journal/download/20210906130104_Paper_4_Vol._14_No_._4,_2021_.pdf

Johnson, M. R. (2019). Inclusion and exclusion in the digital economy: Disability and mental health as a live streamer on Twitch. tv. Information, Communication & Society , 22 (4), 506-520. Retrieved From: https://www.academia.edu/download/56712258/ICS_Disabilities_Johnson_Final.pdf

Mallisetti, V., Dolla, T., & Laishram, B. (2021). Motivations and Critical Success Factors of Indian Public–Private Partnership Unsolicited Proposals. Journal of The Institution of Engineers (India): Series A , 102 (1), 225-236. Retrieved From: https://www.researchgate.net/profile/Tharun-Dolla/publication/348974724_Motivations_and_Critical_Success_Factors_of_Indian_Public-Private_Partnership_Unsolicited_Proposals/links/603a5949299bf1cc26f557d3/Motivations-and-Critical-Success-Factors-of-Indian-Public-Private-Partnership-Unsolicited-Proposals.pdf

Mishra, A. K. (2020). Implication of theory of constraints in project management. International Journal of Advanced Trends in Engineering and Technology , 5 (1), 1-13. Retrieved From: https://www.researchgate.net/profile/Anjay-Mishra/publication/338570730_Implication_of_Theory_of_Constraints_in_Project_Management/links/5e1d4e154585159aa4ce8b7c/Implication-of-Theory-of-Constraints-in-Project-Management.pdf. [Retrieved on: 28/06/2022]

Stretton, A. (2022). Series on project-related contributions to organisational objectives 3. From project outputs to organisational outcomes and benefits, and the roles of user groups, and of program/project management (PPM). Retrieved From: https://pmworldlibrary.net/wp-content/uploads/2022/03/pmwj115-Mar2022-Stretton-3-from-project-outputs-to-organisational-outcomes-and-benefits.pdf. [Retrieved on: 28/06/2022]

Tereso, A., Ribeiro, P., Fernandes, G., Loureiro, I., & Ferreira, M. (2019). Project management practices in private organizations. Project Management Journal , 50 (1), 6-22. Retrieved From: https://journals.sagepub.com/doi/pdf/10.1177/8756972818810966. [Retrieved on: 28/06/2022]

Trainelli, L., & Perkon, I. (2019). MAHEPA–A Milestone-Setting Project in Hybrid-Electric Aircraft Technology Development. In MEA2019-More Electric Aircraft . Retrieved From: https://re.public.polimi.it/bitstream/11311/1076562/1/TRAIL02-19.pdf. [Retrieved on: 28/06/2022]

Wakefield, S. (2020). Making nature into infrastructure: The construction of oysters as a risk management solution in New York City. Environment and Planning E: Nature and Space , 3 (3), 761-785. Retrieved From: https://www.academia.edu/download/62862808/Wakefield_2019_Making_nature_infrastructure_EPE20200407-40440-1lhzkwq.pdf. [Retrieved on: 28/06/2022]

Appendix 1: Project selection tool

Must Objectives	Must meet if applicable	Project proposals
meet legal, safety and environmental standard	Yes= Y No= N Not applicable= N/A	1 Y	2 Y	3 N/A	4 Y	5 N
have the ability to remain compactable with existing product from the perspectives of functionality and connectivity.	Yes= Y No= N Not applicable= N/A	N	Y	Y	N/A	Y
not have an adverse effect on a current or planned operation within the larger community.	Yes= Y No= N Not applicable= N/A	N	N	Y	N	N
Want Objective	Relative importance 1-100	Single project impact	WS*	WS*	WS*	WS*	WS*
have the potential to be nominated for and win a digital. product of the year in the UK Digital Experience award.	60	0=No Potential 1= Low potential 2=High potential	120	60	0	60	0
Attract and create a strong media attention	10	0=No Potential 1= Low potential 2=High potential	10	20	0	10	10
Generate additional revenue such through enhanced functionality and connectivity with existing products	20	0=No Potential 1= Low potential 2=High potential	20	40	40	20	0
40R40a20i0se public consciousness about environmental issues.	55	0=No Potential 1= Low potential 2=High potential	0	110	55	0	55
General ROI in excess of 18 percent and a one-year time to market	70	0<18% 1= 18-22% 2> 22%	70	0	140	140	140
Advance the state of the art in digital innovation.	40	0=No Potential 1=Low potential 2=High potential	80	80	40	40	40
Provide the basis for the developments of a new digital products.	10	0=No Potential 1= Low potential 2=High potential	10	20	10	20	10
Total Weighted score	310	330	285	290	255
Priority	2	1	4	3	5