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Project Plan to support the implementation of entering into the UK tourism market

Board of Directors has agreed with all my suggestions about targeting specific group of students in the UK. And now I can prepare a plan to launch web site in different languages.

Now I want to show you a task list which can help to implement a Network Diagram and Identify the Critical Path.

Task List

No activity duration
Analysis of primary and secondary data 3 weeks
Evaluate results 2 weeks
Target our company on Top 5 countries 4 weeks
Design questions 1 week
Make sure that everything is correct 2 weeks
Launch website in these languages 2 weeks
Evaluate the work of all departments which were included in preparing 3 weeks

 

Project plan

 

 

 

Critical paths are 1,2,3,5,6,7 actions

Floating time is 4 (UK Study Tours have 5 weeks to play with)

The critical path is the path through the network with the greatest total duration. (BPP p. 383)

The time needed to complete each individual activity in a project must be estimated. Activities on the critical path must be started and completed on time, otherwise the total project time will be extended.

For the first activity I need 3 weeks because I need to analyse primary and secondary data (one week for working with primary data, one week for secondary data and one week for analysis of both and linking together). For the activity 2 I need 2 weeks because I need to see the result of my analysis. Activity 3 takes 4 weeks because I need a time for research and critical thinking about targeting. Activity 4 needs just 1 week because I need to do a kind of research and design some questions. For activity 5 I need 2 weeks to check all of aspects which are necessary in launching. Then I need launch website in France and other languages and it takes 2 weeks because of big number of activities which should be done (translating). Finally, I need to evaluate the work of all parts which were included to be sure that my plan will be helpful.

 

Financial Analysis to complement the evaluation of this new business in the UK market

 

In finance, discounted cash flow (DCF) analysis is a method of valuing a project, company, or asset using the concepts of the time value of money. All future cash flows are estimated and discounted by using cost of capital to give their present values (PVs). The sum of all future cash flows, both incoming and outgoing, is the net present value (NPV), which is taken as the value or price of the cash flows in question. (https://en.wikipedia.org)

Net present value

Money has different value when time pass by; one pound today will not have the same value in one year.

(Figure 1: Net Present value)

As we can see, my Net Present Value is 359,117 pounds and it is really good because I have a profit. However, in year 1 I spent 50000 pounds and then I was getting profit during 5 years. And finally I have 359,177 pounds.



These all numbers are all closely connected with difference between values of money. And there are some factors which can influence:

(Figure 2: factors)

The most important factors are:

● UK free risk bonds

● Inflation rate UK

● Commercial risk (30 %)

Conclusion

I think that UK STUDY TOURS should spend money on their development because it will bring more money in the future and UK Study tours will be really successful company

 

References

BPP: Business Decision Making

Wikipedia,. 'Average'. N.p., 2015. Web. 22 July 2015.

Statistics Help @ Talk Stats Forum,. 'Advantages And Disadvantages Of Correlation Coefficient'. N.p., 2008. Web. 22 July 2015.

Statistics Help @ Talk Stats Forum,. 'Advantages And Disadvantages Of Correlation Coefficient'. N.p., 2008. Web. 22 July 2015.

Comparethemarket.com,. 'Compare The Market™ | Cheap Car Insurance & More'. N.p., 2015. Web. 22 July 2015.

Wikipedia,. 'Percentile'. N.p., 2015. Web. 22 July 2015.

 


Date: 2016-01-14; view: 828


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