Unit 6 Managing a Successful Business Project

Aim of Unit 6 Managing a Successful Business Project

Unit 6 Managing a Successful Business Project is based on the understanding of how to manage a business project successfully. Project brief would be set as per the project theme. Within the theme, the chosen project would further enable the researchers to examine and explore various topical business aspects from the perspective of business environment. The overall project aim would help researchers to further implement a project. Independent market research and proper investigation would be undertaken by the concerned individuals for carrying out the project. On successful project completion, researchers would gain confidence in making decisions, solving problems and developing management skills.


Learning outcomes

LO1 Establish project aims, objectives and timeframes based on the chosen theme

Project management can be defined as a comprehensive practice that includes planning, initiating, executing and controlling specific works within any business project. These steps are generally taken for meeting certain goals and objectives. One of the main advantages that project management produces that it helps individuals to gain a proper idea of developing essential stages of work. One of the essential works is creating project aims and objectives and further developing project plans accordingly. Project planning includes cost, time-frame, quality, risks and changes within the project. The work-breakdown structure is mainly developed for determining project phases and estimated time as per these.

LO2 Conduct small-scale research, information gathering and data collection to generate knowledge to support the project

It is a kind of phase in which project plans are generally executed by the researchers. Various essential methods are taken by them such as data collection, material resourcing and more. This phase is needed to be critical and argumentative. In the data collection method, primary and secondary research can be incorporated. Within the primary part, qualitative and quantitative methods are applied which are based on interviews and survey processes respectively. The overall data collection is based on a field-work procedure in which sampling techniques are undertaken properly. It certainly helps them to meet their desired aims and objectives. Researchers need to ensure the validity and reliability of the collected data for a project. 

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

This part is based on presenting the outcomes of the data through ideal data analysis. Researchers need to consider several verbal and written methods as well as various mediums such as presentation, report and others for analysing the overall data. Convincing arguments are needed to prepare for developing and presenting ideal findings or outcomes of a project. Along with these primary and secondary data must be critiqued by an objective frame of mind.

LO4 Reflect on the value gained from conducting the project and its usefulness to support sustainable organisational performance

In this part, the concerned individuals are needed to have a perfect reflection on the understanding of their overall project performance. It can be done by evaluating overall processes in a project such as market research, data collection, analysis, and others. A proper cycle of reflection should be maintained by them where reflection should be included within the actions they take. It generally avoids generic views and focuses on individual development in a critical way.

Unit 6 Managing a Successful Business Project

Learning Outcomes and Assessment Criteria

LO1 Establish project aims, objectives and timeframes based on the chosen theme 
P1 Devise project aims and objectives for a chosen scenario. P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources.M1 Produce a comprehensive project management plan, milestone schedule and project schedule for monitoring and completing the aims and objectives of the project.LO1 & 2 D1 Critically evaluate the project management process and appropriate research methodologies applied.
P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes and stages for completion.  
 LO2 Conduct small-scale research, information  
 gathering and data collection to generate knowledge to support the project 
P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives.M2 Evaluate the accuracy and reliability of different research methods applied. 
LO3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis 
P5 Analyse research and data using appropriate tools and techniques. P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusions.M3 Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to support and justify recommendations.LO3 & 4 D2 Critically evaluate and reflect on the project outcomes, the decision- making process and changes or developments of the initial project management plan to support justification of recommendations and learning during the project.

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This unit links to the following related units: Unit 8: Innovation and Commercialisation Unit 11: Research Project

Unit 16: Operations and Project Management