Study Skills And Project Management Assignment Sample
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Introduction
The main aim of an essay is to analyse the importance of a business case in the UK. The essay will outline the purpose of a business case. Besides, it will describe a business case by analysing the items required in a business case. This will produce the necessary resources that assist to be a good business case. Finally, it will highlight a reason for using agile project management (PM) methodology used in construction project management. Furthermore, it will provide an example of a business case in the U.K. The thesis statement of the study is to entail significance and use of business case across UK. In order to underline key items and its reasons which are required for business case, the present essay will be analysed with specific examples.
Purpose of the business case
The primary purpose of a business case is to provide a justification for an investment strategy used by management. This presents an approach of management in getting a return from an investment. According to Rasnacis and Berzisa (2017), a business case can be described as a project management portfolio; the principal owner of a business case is a sponsor of a project.
The above figure depicts that a business case provides an idea for the stakeholders of a company. This enables them to gain a proper time frame in completing a project. Furthermore, it will give a description of the cost and benefits of a project which justifies the investment in the management of a project. According to Olteanu (2018), a business case enables individuals to figure out the resources required in completing a project. Hence the primary purpose of a business case is to understand a strategy implemented by management in order to get a proper return from an investment. In addition, it will provide a detailed description of stakeholders and decision-makers of a project. This will outline a story of the management tools such as communication used by managers in a transparent decision-making process. For example, in the Crossrail project in the U.K., it can be seen that a project provides a description of the cost of a venture which includes a timeframe of a project.
It is evident that a project was started in 2009, and it is estimated to end by 2020, where the net worth of a project is equal to £15 billion (Tripp and Armstrong, 2018). Apart from that, in order to provide details of this business case, it can be noted that it has provided details of stakeholders. The benefits of a project can be determined easily as management has used proper management tools in getting a profitable return from an investment. Hence, a Crossrail project in the U.K. provides a detailed description of a business case, which includes a description of the cost and benefits of a project.
Items included in a business case and reason
The main items that are considered for a business case are the stakeholders of a company. Stakeholders of a project play a vital role in the successful completion of a project. A second item that is considered for analysis of business cases is the cost of a project. As mentioned by Tripp and Armstrong (2018), if a value of business cases increases, then it will create an effect on successful completion of a project. Hence a manager will have to implement proper management tools that will enable them for controlling the cost of a project.
The resources play a vital role as the stakeholders of a business case are not equipped with proper resources that will reduce the efficiency of a business case. Besides that, a business case presents a clear idea about the risk and opportunities of a project. As mentioned by Lensges et al. (2018), investment opportunities create a risk for the venture. A business case provides a clear idea of the information about the project.
A business case gives a record of a decision made by an organisation about how to achieve an essential level of productivity from work. As mentioned by Pace (2019), the less productivity within the project can decrease efficiency; this will lead to a failure of the project. Through this system, a business case transforms into a record of a recommended decision with a premise and confirmation to support a decision. Hence, a business case includes problems that are solved in getting successful results. This will present a list of alternatives and a possible outcome of a project. This assesses the scope and impact of a project and the benefits gained from a project. Hence, a business case provides a summary of a total project. It is necessary because it assists in figuring out the impact of these factors on a project and a way to overcome the risk of a project which can decrease efficiency. The role of the stakeholders is not included in the business case.
For example, Birmingham’s Big city plan provides a wide range of city development plans. A business case of this project provided a detailed description of the risk of a project and a way to overcome the uncertainty. A project aims to develop 5000 new homes with advanced infrastructure in a city. It provides a 20 years city master plan that includes creating 1.5 million square metres of floor space (Rajagopalan and Mathew, 2016). Besides that, it has provided a brief knowledge about a benefit from a project. According to a government of the U.K., this city plan will provide a £2.1 million contribution to the economy of the UK. and will create nearly 50,000 job opportunities for citizens of the UK (Tripp and Armstrong, 2018). Hence, Birmingham’s Big city plan project provides detail of a project in a business case along with the scope and impact of a project.
The person for whom the business case is written
The business case provides detail about the project. The business case is mainly written by the sponsors of the project as it allows for an idea about the project in simple words. As mentioned by Banica et al. (2017), the business case provides a description of the project; thus it is written by the sponsor. This assists those to provide a clear understanding of the venture. Besides that, this provides a piece of knowledge about the scope and deliverables of the project.
It enables the stakeholders to gain an idea of whether the project is successful or not. The stakeholders of the project include the investors, teammates and the customers of the project. For example, in the scheme of Birmingham’s Big city plan, it can be seen that the citizens of Birmingham will get benefits from the project. As the infrastructure of the city improves, then it will enhance the standard of living of the citizens of the town. As mentioned by Banica et al. (2017), this, in turn, creates an impression on the performance of the project. Therefore in this perspective, it can be noted that this business case is written for the stakeholders of the project as it will assist them to gain a clear understanding of the benefit from the project. Apart from that, it enables the investors of the project to figure out the returns from the project.
The business case enables a person to gain knowledge that this city project will create 50000 job opportunities for the citizens of the UK and will contribute near about 2.1 million in the economy of the country (Betta and Boronina, 2018). Hence, it can be seen that the business case is mainly written for the stakeholders of the project. The business case gives an outline of a full-scale undertaking. Birmingham’s big city plan provides a wide extent of city headway plans. The business case ensures to gain a piece of proper knowledge about the risk of the venture, which can decrease the efficiency of the project.
A business case is researched and rethought at decision sections as more makes assessments and information gets open. According to Betta and Boronina (2018), a business case gives a record of a decision made by a relationship about how to achieve an essential level of productivity from work.
A business case changes into a record of a recommended decision with reason and confirmation to support a decision. Therefore, a business case joins those that are unwound in getting efficiency. As mentioned by Bogdanova et al. (2020), this will present an overview of decisions and a possible consequence of an endeavour. The business case assesses the expansion and impact of an endeavour and the points of interest obtained from a project. This enables the stakeholders to figure out the impact of the project on the standard of living of the citizens.
The reason behind a good business case
A good business case includes the economic approach of the business. This includes the cost of the project and the return on investment from the project. This signifies that it will include the benefits earned from the project. For example, in the case of Birmingham’s big city plan project, it can be seen that the authority expects that it will improve the standard of living of the citizens. If the infrastructure around the city improves, then it will create more job opportunities for the citizens of Birmingham. In case the income of citizens increases, then it will augment the economic growth of the country (Bogdanova et al. 2020). Therefore this project has analysed the economic approach efficiently. Besides that, a good business case should include an excellent commercial strategy that will assist the stakeholders in figuring out the impact of the project on the benefits.
In this perspective of Birmingham’s Big city plan project, it can be seen that the project will ensure them to build 5000 new homes with advanced infrastructure. Apart from that in the Crossrail project of the U.K., it can be seen that this project will improve the transportation process. In the Crossrail project, the authority expects to build a 73-mile rail line, which will run from Reading to Heathrow. Hence, this will improve the transportation of that area. This will provide benefit to the citizens of the U.K. According to Zafar et al. (2017), a good business case should consist of a proper management approach. An appropriate approach to management in the project ensures adequate monitoring and controlling the risk of the project.
The partners of the venture incorporate the financial specialists, colleagues and the clients of the task. Subsequently, a business case incorporates issues that are illuminated in getting victories. This excellent business case will include a rundown of options and a potential result of a venture. According to Nkukwana and Terblanche (2017), this evaluates the degree and effect of a task, and the advantages picked up from an undertaking. Henceforth a business case gives a rundown of a simple task. It is essential since it helps to make sense of the effect of these variables on an undertaking and an approach to defeat the danger of a venture which can diminish productivity. This empowers them to increase a legitimate time period in finishing a task.
It will give a portrayal of the expense and advantages of a task, which legitimises the venture of the administration of an undertaking. A business case empowers people to make sense of the assets required in finishing an undertaking. According to López-Alcarria et al. (2019), the primary criteria for a good business case is to make sense of a technique actualised by the board, to get a legitimate return from speculation. Furthermore, it will give a point by point portrayal of partners and chiefs of an undertaking. This will provide a depiction of the administration apparatuses utilised by supervisors in a straightforward dynamic procedure.
The AGILE methodology used in the project
The Agile methodology involves continuous improvement in the venture by improving the software of the project. The agile method consists of six steps, and in the first step; it analyses the requirement for the project.
The second steps include the design of the project, and the third step is the development of the project, which consists of the continuous development of the software of the project. For example, in a Crossrail project in the U.K., it can be seen that a project describes the cost of a project which includes a timeframe of a project. According to López-Alcarria et al. (2017), it is evident that a project was started in 2009 and it is estimated to end by 2020 where the net worth of a project is equal to £15 billion. Apart from that, in order to provide details of this business case, it can be noted that it has provided details of stakeholders.
The benefits of a project can be determined easily as management has used proper management tools in getting a profitable return from an investment. Hence, a Crossrail project in the U.K. provides a detailed description of a business case which includes a description of the cost and benefits of a project (López-Alcarria et al. 2017). In this aspect, it is seen that in this case, Agile methodology is used which has included the testing procedure of the project.
Thus from the review of the project, it can be understood that ventures have implemented this methodology. This will enable the stakeholders to figure out the success of the project. On the other hand, the agile methodology has ensured them the continuous improvement of the project. Besides that, in Birmingham city plan, the project has improved the review system by continuously checking the quality of the project. It is essential on the grounds that it helps to make sense of the effect of these elements on a task and an approach to reduce the uncertainty involved in a venture which can diminish productivity. As mentioned by López-Alcarria et al. (2017), this enables them to expand a proper period in completing an undertaking. Also, it will give a depiction of the cost and focal points of a vocation which legitimises the speculation of the organisation of an endeavour.
A business case engages individuals to comprehend the advantages required in completing an endeavour (Alcarria et al. 2017). In this manner, the essential purpose behind a business case is to assess a philosophy actualised by the board to get a suitable return from an endeavour. In addition, it will give a depiction of accomplices and heads of an endeavour.
Conclusion
Based on the above study, it can be concluded that the business case has provided the details of the project. In analysing this, it has outlined the purpose of the business case. This includes the analysis of the items that are included and the items that are not included in the business case. The study has outlined an analysis of the business case. Furthermore, it has highlighted the role of resources in the business case and has shown the required things in order to formulate a good business case. It has outlined the reason of using agile project management methodology in the ventures of Birmingham big city plan project and Crossrail project of U.K. Hence, it has proved the thesis statement that the business case provides an analysis of the project.
Reference list
Banica, L., Radulescu, M., Rosca, D. and Hagiu, A., 2017. Is DevOps another Project Management Methodology?. Informatica Economica, 21(3), p.39.
Betta, J. and Boronina, L., 2018, December. Transparency in Project Management–from Traditional to Agile. In Third International Conference on Economic and Business Management (FEBM 2018). Atlantis Press.
Bjørn, P., Søderberg, A.M. and Krishna, S., 2019. Translocality in global software development: The dark side of global agile. Human–Computer Interaction, 34(2), pp.174-203.
Bogdanova, М., Parashkevova, Е. and Stoyanova, М., 2020. Agile project management in governmental organisations-methodological issues. Proceedings of INTCESS, pp.765-778.
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Lensges, M.L., Kloppenborg, T.J. and Forte, F., 2018. Identifying key Agile behaviors that enhance traditional project management methodology. Journal of Strategic Innovation and Sustainability, 13(2).
López-Alcarria, A., Olivares-Vicente, A. and Poza-Vilches, F., 2019. A systematic review of the use of agile methodologies in education to foster sustainability competencies. Sustainability, 11(10), p.2915.
Nkukwana, S. and Terblanche, N.H., 2017. Between a rock and a hard place: management and implementation teams’ expectations of project managers in an agile information systems delivery environment. South African Journal of Information Management, 19(1), pp.1-10.
Pace, M., 2019. A correlational study on project management methodology and project success. Journal of Engineering, Project, and Production Management, 9(2), pp.56-65.
Pereira, J.C. and de FSM Russo, R., 2018. Design thinking integrated in agile software development: A systematic literature review. Procedia computer science, 138, pp.775-782.
Rajagopalan, S. and Mathew, S.K., 2016. Choice of agile methodologies in software development: a vendor perspective. Journal of International Technology and Information Management, 25(1), p.3.
Weichenhain, M. and Fengler, W., 2019. A Petri Net Table Model Applied to Classic and Agile Project Management. In PNSE@ Petri Nets/ACSD (pp. 127-142).
Zafar, I., Nazir, A.K. and Abbas, M., 2017. The impact of agile methodology (DSDM) on software project management. In Circulation in Computer Science: International Conference on Engineering, Computing and Information Technology (ICECIT 2017) (pp. 1-6).
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