Purchase of Study Schedule Management Program for BA School of Business and Finance

 

 

 

 

 

 

 

 

BA School of Business and Finance and SBS Swiss Business School

MBA/MF Program “International Finance and Banking”

 

Project Management:

Assignment

 

Purchase of Study Schedule Management Program

for BA School of Business and Finance

 

 

Prepared by:

 

 

Tutor: 

Lecturer Elita Sproģe

 

 

 

 

 

 

 

 

 

 

 

Table of contents

 

Executive Summary

Client	BA School of Business and Finance
Project name	Purchase of Study Schedule Management Program
Executors	BA School of Business and Finance and SBS Swiss Business School MBA/MF Program “International Finance and Banking” 1MS/ Batch 6 students Ilona Skribina Dmitrijs Kozlovs Artjoms Ustinovs Martins Stabulnieks Jekaterina Andreimane
General description	Inefficient study process organization results in a decline in the quality of education
Target	Increase the quality of educational process in BA School of Business and Finance. - increase of free time for the students per week by 10% (measured by a questionnaire) - balanced schedule ( not more than 4 lectures per day, not less than 3 lectures per day- measured by schedule) - increase in the quality of education by 10% (measured by annual qualification exam results in January) - economize 21 726 LVL by the end of year 4 from the beginning of the project
Scope	The project scope comprises all educational programs currently being provided by BA School of Business and Finance no matter the degree it is provided in.
Objectives	1. Evaluate current educational process by key performance indicators (KPIs). 2. Evaluate current educational process by interviewing stakeholders involved in educational process. 3. Identify weaknesses of current educational process by means of KPIs and interview results. 4. Generate possible solutions/ improvements for weaknesses of current educational system. 5. Evaluate eligibility of the generated solutions and improvements. 6. Implement eligible solutions and improvements. 7. Estimate and improve the technical and administrative assistance of the educational process. 8. Evaluate the improved educational process.
Mission	To ensure efficiency and optimal time-value relation in educational process in all educational programs of BA School of Business and Finance for both students and professors.
Vision	BA School of Business and Finance has an effective and well-organized educational process in all educational levels contributing to the proficiency of students and their carrier growth, as well as contributing to effective time management of educational process from the perspective of both – students and professors.
Justification	Project is going to be implemented with the aim of raising the quality of education process. To achieve the aim three alternatives were evaluated- reconsider the study process planning opportunities by considering a software acquisition; impose study process quality control procedures and control them; raise the school entrance criteria, revise the selection of entrance criteria. From previously mentioned three alternatives first one was chosen due to the immediate effect on the total education process quality and the lower alternative costs compared to other alternatives. Also the project realization process would require less attracted resources
Project length	9 months
Project period	03-06-2012/ 02/03/2012
Budget required	15 391,84 LVL
Personnel costs	7838,16 LVL
Material costs	7553,69 LVL

 

 

 

 

 

 

 

1. Project environment description

BA School of Business and Finance was established in December 30, 1997 with the Cabinet Order no. 675, although in fact the foundation was laid already in the June of 1992. During its development the institution of higher education has specialized in banking, financial and economics specialist training. Currently BA School of Business and Finance is one of the leading universities in Republic of Latvia that offers both residents and non-residents to acquire professional higher education in the sphere of business, banking and finances. BA School of Business and Finance students, graduates and tutors have gained international recognition for participating in international projects, conferences, for winning scholarship competitions, demonstrated knowledge, skills and abilities for international certification organizations.

The institution of higher education is located in Riga, Kr.Valdemāra 161, and has around 100 employees, that provide top quality educational processes.

The company’s vision is to become the students’ professional success road, carrying out its mission of providing excellent international business and financial education to creative personalities. Thus, the company has set professionalism, responsiveness and openness as its core values that support its objectives:

• To prepare academically and professionally educated specialists for the  economy of Latvia;
• To aid graduate competitiveness in Latvian and European labour market;
• To form comprehensively educated and creative personality;
• To provide quality higher education development in dynamically changing environment.
• The company provides education services such as:
• 1^st level higher education courses;
• Bachelor of professional higher education programs;
• Master of professional higher education programs;
• Doctor of professional higher education programs;
• Preparation courses for secondary school students;
• External student status by visiting and participating the different study courses;
• Professional conferences, seminars;
• Additional services.

 

BA School of Business and Finance depends mainly from the annual flow of students who are interested in the entrepreneurial and financial education by entering into programs offered by institution of higher education. Student flow depends on the upper secondary school pupil desires and capabilities- both knowledge and material situation- for the particular higher education institution, as well as a national policy for higher education, fund-raising and professional competence and competitive sustainable conservation trends.

Thus, any changes in factors used in the operation of BA School of Business and Finance are considered as threats.

Company’s recognized competitors are:

• SSE, Stockholm School of Economics in Riga;
• University of Latvia Economics and Business Administration Faculty;
• RBS- Riga Business School;
• Riga International School of Economics and Business Administration;
• Riga Technical University;
• Ventspils University College;
• Vidzemes University College;
• Other higher education institutions offering the acquisition of economy-related specialties.

Company possesses:

• Building located on K.Valdemāra street 161, part of the building on Kr.Valdemāra street 163;
• Inside the building established training audience and their equipment;
• Learning resources at the school library;
• Equipment 
  

2. Problem target tree

 

 

3. Objectives and aim

Mission:

To ensure efficiency and optimal time-value relation in educational process in all educational programs of BA School of Business and Finance for both students and professors.

Vision:

BA School of Business and Finance has an effective and well-organized educational process in all educational levels contributing to the proficiency of students and their carrier growth, as well as contributing to effective time management of educational process from the perspective of both – students and professors.

Aims and targets:

Increase the quality of educational process in BA School of Business and Finance.

• increase of free time for the students per week by 10% (measured by a questionnaire)
• balanced schedule ( not more than 4 lectures per day, not less than 3 lectures per day- measured by schedule)
• increase in the quality of education by 10% (measured by annual qualification exam results in January)
• economize 21 726 LVL by the end of year 4 from the beginning of the project

Objectives:

• Evaluate current educational process by key performance indicators (KPIs).
• Evaluate current educational process by interviewing stakeholders involved in educational process.
• Identify weaknesses of current educational process by means of KPIs and interview results.
• Generate possible solutions/ improvements for weaknesses of current educational system.
• Evaluate eligibility of the generated solutions and improvements.
• Implement eligible solutions and improvements.
• Estimate and improve the technical and administrative assistance of the educational process.
• Evaluate the improved educational process.

Scope:

The project scope comprises all educational programs currently being provided by BA School of Business and Finance no matter the degree it is provided in.

Project proposal

Short problem description: Inefficient study process organization results in a decline in the quality of education.

Aim of the problem solving: Increase the quality of education process.

Brief description of alternatives for the problem solving:

1st alternative: Reconsider the opportunities for study process planning. Consider a software acquisition.

2nd alternative: Impose study process quality control procedures and monitor their performance.

3rd alternative: Raise the entrance criteria; revise the selection of entrance criteria.

Short evaluation of the different alternatives:

Alternative	Advantages	Disadvantages	Costs	Risks
1st alternative	Immediate effect after implementation; process automatization reduces existing costs	Project implementation and realization costs	Average	Education process planning complete dependence on automatic processes
2nd alternative	Long-term solution, strengthening of the internal control environment	High process complexity degree; additional resources required	High	Rise of social tension
3rd alternative	Effective learning resource attraction and study process organization in a long-term; building strong reputation	Effect only after two year period; additional resources required	Low	Company’s operational risk realization, decrease in student flow; Rise of social tension

 

 

 

6. Project risks and measures to mitigate

Acquisition of software for study process efficient scheduling

Type of risks	Risks	Risk evaluation	Measures
Economic and organizational	Introduction of the system and its adaptation   Lack of cooperation with the developers	4	Careful planning, distribution of tasks and close cooperation with developers
Social	Coordinators’ lack of competence	3	Training courses
Political	–	–	–
Technical	Need for newest IT technologies Program incompatibilities with existing software Lack of internal computer resources (Technical parameter inadequacy)	3	IT staff involvement and assessment of alternatives

 

7. Economic validity of the alternative

 

Project development costs
	Introduce a new planning program and ensure its stable operation in BA
Staff costs	2286.16 Ls
Invited staff costs	0.00 Ls
Utilities	100.00 Ls
Office rent	0.00 Ls
Transportation expenses	8.01 Ls
Document preparation/ arranging costs	45.00 Ls
Communication costs – phone, internet	0.00 Ls
Stationery	155.00 Ls
Unforeseen expenses (10%)	259.42 Ls
Total	2853.59 Ls

 

8. Operational necessity of alternative

 

Operational necessity	Introduce a new planning program and ensure its stable operation in BA
Are there problems in daily work which can be prevented by carrying out a project?	4
Are there laws or regulations which non-fulfilment can lead to sanctions?	1
Are there internal regulations, which non-fulfilment can lead to problems?	3
Are there restrictions on personnel selection?	2
Is there a need for changes in organization structure?	1
Is there a need for changes in work organization?	2

 

 

 

 

9. Strategic necessity of alternative

 

Strategic meaning	Introduce a new planning program and ensure its stable operation in BA
Will the project proposal realization expand the costumer base?	5
Will the project proposal realization bring any additional benefits?	2
Will the project proposal realization result as an advantage in the competitive environment?	4
Will the project proposal realization expand the market segment?	5
Will the project proposal realization allow responding more flexibly on the external environment influence?	3
Will the project proposal realization provide a better protection from the competitors?	5
Will the project proposal realization provide a possibility to obtain more accurate information?	4
Will the project proposal realization ensure better management?	2

 

10. Organizational chart

 

For the needs of improving the quality of educational process in BA School of Business and Finance functional project organization will be used, meaning that project manager will involve the organization’s personnel from different departments.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Job descriptions of organizations personnel in terms of the project.

The project realization would require following positions to be involved in the project, and namely:

• Project manager
• Finance responsible
• IT responsible
• Marketing and PR specialist
• Quality manager

 

Job description of project manager:

The role of the Project Manager is to plan, execute, and finalize project according to strict deadlines and within budget. This includes acquiring resources and coordinating the efforts of team members and third-party contractors or consultants in order to deliver projects according to plan. The Project Manager will also define the project’s objectives and oversee quality control throughout its life cycle.

Responsibilities

• Direct and manage project development from beginning to end.
• Define project scope, goals and deliverables that support business goals in collaboration with senior management of the BA School of Business and Finance.
• Develop full-scale project plans and associated communications documents.
• Effectively communicate project expectations to team members and stakeholders 
in a timely and clear fashion.
• Liaise with project stakeholders on an ongoing basis.
• Estimate the resources and participants needed to achieve project goals.
• Draft and submit budget proposals, and recommend subsequent budget changes where necessary.
• Where required, negotiate with other departments of BA School of Business and Finance for the acquisition of 
required personnel from within the organization.
• Determine and assess need for additional staff and/or consultants and make the appropriate recruitments if necessary during project cycle.
• Set and continually manage project expectations with team members and other stakeholders.
• Delegate tasks and responsibilities to appropriate personnel.
• Identify and resolve issues and conflicts within the project team.
• Identify and manage project dependencies and critical path.
• Plan and schedule project timelines and milestones using appropriate tools.
• Track project milestones and deliverables.
• Develop and deliver progress reports, proposals, requirements documentation, and presentations.
• Determine the frequency and content of status reports from the project team, analyse results, and troubleshoot problem areas.
• Proactively manage changes in project scope, identify potential crises, and devise contingency plans.
• Define project success criteria and disseminate them to involved parties throughout project life cycle.
• Coach, mentor, motivate and supervise project team members, and influence them to take positive action and accountability for their assigned 
work.
• Build, develop, and grow any business relationships vital to the success of the project.
• Conduct project post mortems and create a recommendations report in order to identify successful and unsuccessful project elements.
• Develop best practices and tools for project execution and management.

 

Set of competencies for Project manager:

Competencies	Level
	Foundation	Knowledgeable	Advanced	Proficient
Respect				X
Self confidence				X
Integrity				X
Self awareness				X
Empathy			X
Negotiation				X
Accountability				X
Effective communication				X
Adaptability				X
Result orientation				X
Developing others				X
Innovation and creativity				X
Stakeholder focus				X
Social inclusiveness			X
Resource management				X
Organizational understanding				X

 

 

Job description of Finance responsible:

 

Finance responsible keeps track on all resources used by the project, assures that the project is financially sustainable.

 

Responsibilities

• Constant communication with the Project manager
• Project budget
• Be present at all times during the project carry out
• Main legal and financial responsible at project level
• Encourage the members in order to have good use of the financial resources
• Controlling the financials
• Create the forecasted budget together with the Project manager, according to the action plan
• Grant research
• Application for grants in order to obtain sustainable sources of revenues for the project
• Allocate resources in a rational way
• Keep track on forecasted budget, make adjustments in case the action plan changes, completes the realized budget
• Keep track on contracts signed and the deadlines for money/in kinds to enter in the project
• Realize a cash flow in order to track inflows and outflows of cash
• Educate team members to bring financial documents
• Realize the report for grants received
• Create the financial report at the end of the project
• Deliver the necessary reports to the  stakeholders when required.

 

Set of competencies for Finance responsible:

 

Competencies	Level
	Foundation	Knowledgeable	Advanced	Proficient
Respect				X
Self confidence				X
Integrity				X
Self awareness				X
Empathy			X
Negotiation			X
Accountability				X
Effective communication				X
Adaptability				X
Result orientation				X
Developing others			X
Innovation and creativity			X
Stakeholder focus				X
Social inclusiveness			X
Resource management				X
Organizational understanding				X

 

Job description of IT responsible:

Project IT responsible is a key technical person, who assure the technical accuracy of the implemented project system.

 

Responsibilities

• Constant communication with the Project manager
• Project technical plan development and keeping track
• Managing 2 programmers that will be developing the system
• Ensuring the system testing at all stages of project implementation
• Conduct and lead business relations with according external parties involved in the technical side of the project
• Participate in budget creation with Project manager and Finance responsible
• Prepare and lead education on technical side of the project for team members

 

Set of competencies for IT responsible:

 

Competencies	Level
	Foundation	Knowledgeable	Advanced	Proficient
Respect				X
Self confidence				X
Integrity				X
Self awareness				X
Empathy			X
Negotiation			X
Accountability				X
Effective communication				X
Adaptability				X
Result orientation				X
Developing others			X
Innovation and creativity				X
Stakeholder focus				X
Social inclusiveness			X
Resource management				X
Organizational understanding				X

 

 

Job description of Marketing and PR specialist

• Involve in particular stages of the project, when marketing or organisational brand awareness is necessary
• Conduct survey and interviews of stakeholders of the project in order to identify key existing problems of educational process in BA School of Business and Finance as well as possible improvements of it
• Summarise gathered result s and present them to project team
• Prepare necessary reports for project manager and stakeholders
• Ensure organisational brand awareness during the project realisation
• Ensure brand awareness in communication with external parties

 

Set of competencies for Marketing and PR specialist:

Competencies	Level
	Foundation	Knowledgeable	Advanced	Proficient
Respect				X
Self confidence				X
Integrity				X
Self awareness				X
Empathy				X
Negotiation				X
Accountability			X
Effective communication				X
Adaptability				X
Result orientation				X
Developing others			X
Innovation and creativity				X
Stakeholder focus				X
Social inclusiveness				X
Resource management			X
Organizational understanding				X

 

Job description of Quality manager:

• Ensure project compliance with organizational goals
• Monitoring performance by gathering relevant data and producing statistical report
• Ensure project monitoring in all stages of the project
• Report to senior management of BA School of Business and Finance if any incompliance are detected

Set of competencies for Marketing and PR specialist:

Competencies	Level
	Foundation	Knowledgeable	Advanced	Proficient
Respect				X
Self confidence				X
Integrity			X
Self awareness				X
Empathy		X
Negotiation				X
Accountability				X
Effective communication				X
Adaptability			X
Result orientation				X
Developing others		X
Innovation and creativity			X
Stakeholder focus				X
Social inclusiveness		X
Resource management				X
Organizational understanding				X

 

11. Monitoring and Control

 

It is not a secret that managing a project involves continually planning what to do, checking on progress, comparing progress to plan, taking corrective action to bring progress into agreement with the plan if it is not, and of course re-planning when needed. Therefore “Improvement of the education process quality in BA School of Business and Finance” project will be strictly monitored and controlled on regular basis.

Data (time, cost and performance) about each stage of the project (1. project management, 2. program acquisition, 3. introduction of the software and adaptation for work, 3.training process) will be collected, recorded and reported to project manager in the form of status reports, which will allow:

• Communicate the information about any changes to the goals of the project in time, thus minimizing the confusion often encountered during such changes;
• Maintaining the visibility of the project and the project team to BA School of Business and Finance itself;
• Keeping the project team motivated.

Therefore, based on monitoring and comparing activities with the plan in case of any deviations control mechanisms (regulating costs, timing, performance of the participants) will be used in order to bring actual performance into agreement with the plan and project’s objectives. Taking into consideration all the above mentioned it will be managed that project will stay on schedule, not exceed its budget and meet its specifications.

 

- Evaluation criteria (to be evaluated after the project)

There are many different measures that may be applied in a project evaluation. The following evaluation criteria that by their nature are rather standard, but in the same time very important will be applied for “Improvement of the education process quality in BA School of Business and Finance” project:

• Project’s  efficiency in meeting  the  budget  and  schedule;
• Impact on quality of education process;
• Satisfaction of students and lecturers from planning program implementation;
• Long-term evaluation criteria: BA School of Business and Finance market share and reputation increase. 
  

12. Structural plan

 

BA study process planning software acquisition

 

1100	Project management		1200	Program acquisition		1300	Introduce of the software and adaptation for work		1400	Training process
1110	Task distribution		1210	Desire and need understanding, working with coordinators		1310	BA’s computer capacity testing		1410	Coordinator training planning
1120	Preparation of project documentation		1220	Software daily performance description, functionality		1320	Acquisition of the required equipment - UPS, Server		1420	Coordinator training conducting
1130	Project co-ordination of financial resources and accounting		1230	Software description  coordination with the coordinators		1330	Equipment connection and testing		1430	Coordinator skill testing
1140	Project intermediary report creating		1240	Choice of software developing company		1340	Program work mode testing
1150	Evaluation of project results		1250	Software acquisition