Assignment Sample on BUSI1637 Discover Project Management
1. Business rationale
- Fast food is mentioned as food that is served and prepared quickly with ingredients like refined grains, high-fat meat and added sugar and fats
- In recent times, fast food chains are the most important business which provides convenience and affordability to the customers but lack of fresh ingredients are the reason for concern (Namin, 2017).
The customers are extremely fantasised regarding fast food as it provides them happiness. One of the major problems in the fast-food chain is that people think that they are provided with unhealthy products. It is seen that most of the customers believe that fast food is harmful to the health of the people. Apart from the issues and problems, the fast-food industry is rising and has a firm grip over the highest part of the food economy. In many developing countries, fast food shops are emerging and hold a significant place in the market. In the past, fast food did not have much significance due to its low popularity and low capital income of the individuals. The value for money is increasing with the advancement of technology and the factor of digitalization.
CONTD…
- An outbreak of COVID-19 has disrupted the complete network of the food supply chain and the fast-food industry is experiencing major issues as understaffed stores (Chen et al. 2018)
- Operators of fast food chains claimed that disruptions of supply chains and low margins are making the thing extremely worse
Declining staff in the fast-food centre is a major challenge faced by the fast-food organisations in the crisis of pandemic situation. Business owners of Fast Food businesses claim that they are not able to search for any staff and In most cases, a lack of desire to work has been seen. They also mention that employees are demanding higher benefits than pay in this tight labour market amidst panoramic situations. Mismatch in the organisational structure has led the restaurants to close the dining room and decrease the opening time for this purpose. Employee issues are the major problem across the country and some investors along with the CEO claim that the dining room is closing very soon and runs drive-through only due to lack of employees.
CONTD…
- Rising Competition is another major issue since the business of fast-food chains is emerging heavily
- The reason behind the increasing competition in this modern era is due to the emergence of e-commerce businesses and many food delivery applications (Zhong and Moon, 2020)
In this era of advancement in technology and digitalization, the E-Commerce business has grown significantly. A rise in the E-commerce business and online delivery websites and applications has led the customers to order food online from their residency. The competition in the fast-food market has developed gradually with the advancement in technology and the development of e-commerce sites. Many fast-food organizations are providing unique offers and discounts to attract more customers towards the stores for their benefits which is a major disadvantage for its competitors. Though it is considered as QSR (Quick Service restaurants), the competitors in the market are making the organizations change and develop the strategy accordingly.
2. Project objectives
- To expand the business for maximising profit for an organisation
- To understand the factor of project management in the extension of business (Scully et al. 2019)
In this study, a well-established fast-food brand is planning to start up a new branch for earning revenue through the expansion of business. In this context, the business owner does not have any idea regarding the management of projects in the expansion of business. Expansion of business is considered as the stage of the business cycle where the real GDP developed for more than two consecutive quarters. Project management is considered the process of leading the work of a business to accomplish all the goals of the project within the deadline. Comprehension is a must in the start-up of a business and all the other aspects of the project lifecycle are completely necessary.
CONTD…
- To understand the factor in expanding the business to have a local store in the mail line railway station as on an experimental basis (Rogus, 2018)
- To comprehend the preferences and needs of the customers in that region
The main purpose of the organisation is to extend its established brand to a local Store to maximize the scale of operation and earn revenue. The company provides Burgers, pizzas, fried chickens and many more and they think that extending the business in the mainline is going to be enormously beneficial for them. Extending local business is not easy for the company because there can be many competitors already available which have a huge customer base. In doing this, the company must understand the needs and preferences of the customer. In understanding the requirements of the customers, the organisation needs to target a segment of customers for understanding the profit and success of the business in that particular area. Food and beverages are the common things that most people like and buy at the time of travelling.
CONTD…
- To analyse the challenges and impact of project management (Hussain, 2018)
- To develop innovative strategies in the mitigation of these issues
Ambiguous contingency plan, Lack of accountability, resource deprivation and scope changes are some of the challenges that are faced in the management of projects in the extension of the business. Inadequate communication is considered as the major problem in project management at the start of a business as a local shop. Poor connection in the management of the project led to the completion and delivery of the outcome of the project being unsuccessful. The expansion of a well-established Food and Beverage business to a particular region is difficult if the connection and understanding between the team members in the project are not clear and proper. In this context, the leaders involved in the project and management of the organisation must utilise some unique strategies to provide a clear view in the mitigation of challenges. For instance, the management must utilise some project development software such as proof hub to notify the members of the project regarding the current development and motivate the members of the team to interact openly.
3. Project lifecycle
- The project life cycle is mentioned as a four-stage process that is followed by the managers of a project when shifting through different stages of project completion (Bao et al. 2018)
- Initiation, planning, executing, monitoring and closing are considered as the five stages of the project life cycle
In the initiation phase of the project life cycle, the management of the project comprises two separate two methods including stakeholder register and project charter. In this phase, the vision of the project is demonstrated And documented what to achieve and security approvals 40 stakeholders sanction. Project charter compresses certain important elements which include business case, project scope, Deliverables, objective, resources needed, cost estimation, time and dependencies. The management of the fast Food organisation must keep in mind when implementing a cohesive and clear vision that who is the idle verb should get engaged in bringing the project to reality.
CONTD…
- The main purpose of the project life cycle is that it tracks the management of the project into certain different stages
- The different stages of the life cycle of the project assistant give a high-level purse to make a show that the project is planned and progressing (Zighan and Abualqumboz, 2021)
Planning and executing is the second and third step of the project life cycle after the initiation phase. The process group of the planning phase is the stage where the management of Fast Food business develop the infrastructure that enables them in accomplishing the globe with a predetermined budget and time constants initiating with the plan, project score and WBS of the project management. The execution stage is the state where the main budget is allocated and the project deliverables are manufactured. The execution phase of the project management comprising stakeholder engagement, team development and the activities that are quality assured.
CONTD…
- The life cycle of the project comprises of the explained phases of the project which are physically recognised and documented within the project management methodology of an organisation (Rehouma, 2019)
- Dissection of the different stages permits for maximum control by the organisation and estates are generally sequential and overlapping
After the three stages, the monitoring and controlling phase takes place which involves reviewing the original progress of the project against the idea and plan and taking corrective measures where it is required. The ultimate stage of the project life cycle of project management of fast food business is the solitary method more than simply checking the project. The last stage is extremely necessary to formally finish the project and secure a sign of who is involved in the project from the stakeholders, customs and sponsor of the project. The process of final stage comprises delivering the project, accomplishing records of the projects, releasing the team or officially disbanding.
4. Timeline plan
The figure above represents the five different stages and under different stages, multiple tasks are represented which have individual representation. The key components of project management that are mentioned in the above figure includes integration management, scope management, schedule management, cost management, quality management, risk management, resource management, procurement management and stakeholder management.
CONTD…
Figure 1: Revenue of fast food business
(Source: Bplans.com, 2021)
Figure 2: Profit & loss of fast food business
(Source: Bplans.com, 2021)
Figure 3: Cash flow statement
(Source: Bplans.com, 2021)
The above figure represents the financial plan of the project management. From the above-mentioned graph, it can be clearly stated that revenue of the fast-food business has been gradually increased with the evolution of era. Expected profit and loss are also mentioned in the above figure of the fast-food business. The project cash flow statement represents a clear picture of the business.
CONTD…
Gantt chart and WBS structure is represented in the above who illustrates the time of the initiation and completion of the project.
5. Stakeholders
- Stakeholders are considered as a person who has an immense interest in an organisation that can be affected by the operation and performance of the business (Gheribi, 2017)
- Employees, suppliers and customers are considered as the major stakeholders of the fast-food business
Stakeholders of the organisation are scrutinizing their engagement with the organisation. Customers are the external stakeholders of the company and the existence of an organisation completely relies on the customer. The company works as the largest fast-food supply chain within the country and has the base of an issue of customers and is famous for its established brand. The company works with several suppliers to procure the non-food items and food items to continue its operational process.
For instance, Lopez foods provide the organisation with inspected meat in the UK and likewise, the food supply of the organisation has a wide variety of items to keep the operation of the restaurant ongoing. The company has a good policy of maintaining the trust factor and communication with a supplier which is vital because a delay of the poor quality of the raw ingredients may affect the company badly. The organisation has the largest number of employees across the country. It is also recognised by the researcher that the company has the highest number of employees which is for when franchise employees were added collaboratively. Employ is the priority of the operation of the organisation and satisfaction of the customers heavily rely on the professional and friendly service of the employees.
CONTD…
- Management of stakeholders within the fast-food business is extremely necessary because it is the lifeline of efficient project connection (Li et al. 2020)
- Stakeholders of the fast-food organisation help to provide the requirements are constraints based on the data from the industry
Apart from the main stakeholders, the organisation involved experts from different industries, non-governmental organisations and local communities. The connection with the stakeholders assists the organisation to operate the fast-food business within the country in many ways. For instance, experts of WWF (World Wildlife Fund) lead independent evaluation and analysis of the supply chain network of this business to assist it in recognising the raw ingredients that represented the biggest Sourcing and sustainable opportunities for the prioritisation. The organisation has become a member of the number of the organisation that belongs to Non-governmental group which includes Bioplastic feedstock alliance, Global food safety initiative and Alliance for the healthier generation to participate in international efforts in dealing with environmental and social issues. It helps in implementing the Leadership Board of the Global community to develop community communication across the world through Charity donation.
CONTD…
- The theory of stakeholder holds that the leaders of a company must comprehend and account for all the stakeholders of the organisation which has a significant impact on the operation (Majdabadi et al. 2017)
- In the management of stakeholders, fast food business utilizes the theory of stakeholder regarding how it works
Stakeholder theory is considered as a capitalist view that hassles the interconnected connection between a business and suppliers, investors, customers and many more who have a stake in the business. Descriptive, normative and instrumental values are considered as the three basic norms of the stakeholder model. In the descriptive model, the stakeholders provide a concept and language to explain the corporation and the way they operate and its impact on the broader environment. The theories are useful in assisting to comprehend and manage the organisation. Instrumental model of stakeholder in the management of stakeholders that consequences in the accomplishment of business goals and motives.
Increased growth, sustainability and profitability are considered as the business goal in the instrumental value. Stakeholder is considered for testing of the relationship between reaching the targets of Business and Management of stakeholders. A major aspect of the stakeholder model includes the normative value which is considered as the presumption that stakeholders of the organization have the inherent value. In the management of a project, it must be remembered by fast-food organizations in the extension of the business that stakeholder management needs some acceptance. This means that stakeholders must be considered more than the shareholder’s information for recognition and evaluation of the legitimacy and importance of the state to the shareholders in the organisation.
6. Communications
- Communication is the integral part of project management which is explained is the exchange of data and expression of thoughts and feelings by utilising the words and other methods (Rajput and Gahfoor, 2020)
- In project management, 5c’s are the most utilised one for the business organisation in the extension of business
5 C’s of communication includes correct, coherent, clear purpose, controlled and concise. Clarity is the major step of having effective communication in the management of a project because clear perception and objective is vital for good communication. Comprehension of the speaking terms and correct goals and objectives of the organisation must be specified at the time of the communication process. Cohesiveness is the other thing that assists the members in understanding the message by leading them through the data so that they can see whether it fits logically amalgamated. The completeness stage of the communication process includes enough data to prove the thesis of the statement by presenting a plan and the extension of business by the fast-food business owner. It is the stage where the member completely comprehends the necessity of the fact. The goal and motive of initiating the project must be clear and concise to the team members so that the task can be accomplished within the time frame successfully.
CONTD…
- In the management of projects in the extension of business in the mainline as an experiment, the organisation has an internal communication team that utilizes several channels for interaction
- Interactive communication, push communication and pull communication are considered as the three effective communication methods in a project management task (Xiao et al. 2019)
In interactive communication, more than one person communicates with each other. A single person gives information that is received by the other person who then answers to the data that is provided by the individual. Video conferences, meetings and conference calls are some of the instances that are seen in the management of extension of Fast Food business projects which are a part of interactive communication. Push communication is recognised as the method which includes transforming the data to the recipient of receiving any feedback without any expectation. Push communication is considered as the one way streaming of data which includes mass mailers, project updates and status reports that are transferred to a large population. Pull communication is the method where the sender places the data at a central location and the recipient liable to utilise the data or require the data to retrieve the full details from that location.
CONTD…
- Management of fast-food organizations utilizes weekly newsletters and intranet to interact with the internal stakeholders
- The organisation has the campaigns or advertising which structure to give the customer with the data on his product so that they can create informed decisions (Saghaian and Mohammadi, 2018)
Communication with stakeholders at every stage of the project management of this business organisation is extremely vital to have a smooth flow in the operational process. CSR is the main focus nowadays and the internal and external stakeholders of the fast-food organisation look for those organizations that have the CSR program. CSR and 3R in the fast-food organisation are interrelated and corporate social responsibility gives immense competitive age to the fast-food restaurant as it enhances positive reputation and image in the industry. The fast-food organization spans around five major pillars of CSR and sustainability which includes Planet, people, community, Sourcing and food.
The organisation has the hope of action within these pillars that assist in accomplishing the business and social imperative that are necessary to secure a profitable future. Maintaining a CSR activity helps in enhancing the reputation and image of the company which means that the commitment of the company in the CSR policy is to manage the economic, Social and Environmental impact of operation liability with the expectation of the public. The organisation is empowering restaurants across the country to aid and provide back to the local societies and communities through multiple programs including the collection of toys and books for the needy children and organising educational and fun trips for the children.
References
Namin, A., 2017. Revisiting customers’ perception of service quality in fast food restaurants. Journal of Retailing and Consumer Services, 34, pp.70-81.
Chen, K.J., Yeh, T.M., Pai, F.Y. and Chen, D.F., 2018. Integrating refined kano model and QFD for service quality improvement in healthy fast-food chain restaurants. International journal of environmental research and public health, 15(7), p.1310.
Zhong, Y. and Moon, H.C., 2020. What drives customer satisfaction, loyalty, and happiness in fast-food restaurants in China? Perceived price, service quality, food quality, physical environment quality, and the moderating role of gender. Foods, 9(4), p.460.
Saghaian, S. and Mohammadi, H., 2018. Factors affecting frequency of fast food consumption. Journal of Food Distribution Research, 49(856-2018-3106), pp.22-29.
Scully, J.Y., Moudon, A.V., Hurvitz, P.M., Aggarwal, A. and Drewnowski, A., 2019. A time-based objective measure of exposure to the food environment. International journal of environmental research and public health, 16(7), p.1180.
Rogus, S., 2018. Examining the influence of perceived and objective time constraints on the quality of household food purchases. Appetite, 130, pp.268-273.
Hussain, S., 2018. Brand Image and Customer Loyalty Through Sensory Marketing Strategies-A Study on International Fast Food Chain Restaurants. International Journal of Management Studies, 2(7), pp.32-39.
Bao, F., Chan, A.P., Chen, C. and Darko, A., 2018. Review of public–private partnership literature from a project lifecycle perspective. Journal of Infrastructure Systems, 24(3), p.04018008.
Zighan, S. and Abualqumboz, M., 2021. A project life-cycle readiness approach to manage construction waste in Jordan. Construction Economics and Building, 21(3), pp.58-79.
Rehouma, M.B., 2019. Employees’ Participation in IT-Projects in the Public Sector: Mapping Participation to the Project Lifecycle. International Journal of Public Administration in the Digital Age (IJPADA), 6(2), pp.20-34.
Bplans.com, 2021, About Us, Available from: https://www.bplans.com/ [Accessed on: 14th December, 2021]
Gheribi, E., 2017. The activities of foodservice companies in the area of corporate social responsibility–on the Example of International Fast Food Chain. Journal of Positive Management, 8(1), pp.64-77.
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Majdabadi, H.A., Montazeri, A., Shojaeizadeh, D., Nedjat, S., Farahani, F.K., Djazayeri, A., Asadi-Lari, M. and Solhi, M., 2017. Parents’ and stakeholders’ perspectives on strategies to reduce fast food consumption among Iranian adolescents: A qualitative study. Iranian Red Crescent Medical Journal, 19(1), p.10.
Rajput, A. and Gahfoor, R.Z., 2020. Satisfaction and revisit intentions at fast food restaurants. Future Business Journal, 6, pp.1-12.
Xiao, A., Yang, S. and Iqbal, Q., 2019. Factors affecting purchase intentions in generation Y: empirical evidence from the fast food industry in Malaysia. Administrative Sciences, 9(1), p.4.
Saghaian, S. and Mohammadi, H., 2018. Factors affecting frequency of fast food consumption. Journal of Food Distribution Research, 49(856-2018-3106), pp.22-29.
