Unit 3 Project Design Implementation and Evaluation Assignment

The purpose of the report is to identify the procedure involved in formulating as well as implementing the project in systematic as well as effective manner. It also has focus on identifying the tools and techniques which can be used for facilitating research.

Task 1

1.1 Project specifications

Background of the study

The music industry is failing and that making money from recorded music is a thing of the past. In present scenario, due to highly competitive and dynamic business environment , companies are facing difficulty in concentrating on its business objectives. The changes in internal as well as external factors has direct as well as significant impact on the growth as well as profitability of an enterprise. In digital era, some companies like Bandcamp’s c enterprise using old techniques of increasing profits. It has become essential for business entities such as Bandcamp’s company to identify innovative ways to for increasing sales as well as profitability. It has been identified from the case scenario that Bandcamp’s company is performing good in music industry but still, business entity need to develop their focus on improving customers services. Already business entity has created their own micro sites under Bandcamp's domain and start sharing and selling their tracks. The low cost pricing strategy has been adopted by an enterprise for gaining leadership position in the market as well as attracting more number of customers. But all these techniques as well as methods or strategies has been proven to be as lees effective. Now an organisation is taking high initiatives for identifying the new ways for increasing sales as well as profitability. It is required by an enterprise to implement technology at workplace and shroud concentrate on utilising online sound as well as video streaming for music shows. As this strategy will assist Bandcamp’s company in increasing sales as well as profitability. The technology such as internet has allowed vast network of musicians and fans to connect easily than ever before, and sharing music online is also becoming increasingly simple. It has also enabled business entity to share music online. By making use of internet and utilising online sound as well as video streaming for music shows business entity will able to generate high revenue.

Aim of the report- To analyse the impact of technology on music industry.

Objectives:

• To develop the understanding about the use of technology in music industry.
• To identify the way technology is helping music companies in increasing their sales as well as profitability.
• To analyse the way technology can be implemented with in an enterprise operating in music industry
• To suggest the strategies which can be used for increase in sales as well as profitability in music industry.

Data collection method: In present research scholar will use qualitative method. As the scholar is aware about the information which is required to be gathered by them. Close ended question will be included in the questionnaire. As this will help investigator in getting the relevant information or data.

Primary and secondary research – In present investigation , researcher will use both the sources of collecting the information. Primary data will be gathered by conducting the persona interview as well as circulating the questionnaire among participants. Articles , books and Journal has been used for gathering secondary source of information.

1.2 Identifying the factors which has contributed to the process of project selection

There are several factors which has inspired scholar to conduct research on particular topic such as to analyse the impact of technology on music industry. One of the significant reason for the selection of the project is interest in sales field. The another major fact is the changes in digital era and decline in sales of music industry. A scholar has also analysed the several techniques as well as methods adopted by Bandcamp’s company for increasing sales and profitability. In addition to the growth of online music screaming has encouraged investigator to select particular project. Scholar also wants to help Bandcamp’s company in identifying the new ways or strategies for increasing sales m, generating high revenue and fostering growth. Other factors is the opportunities for increasing the knowledge about the music industry , technology has encouraged researcher to facilitate investigation on specific topic. The evidence which shows the impact of digital technology on music industry is that , many of business entities are concentrating or planning to utilise Online sound or video streaming for music shows. It has been analysed by the scholar that strategy of using Online sound or video streaming for music shows has supported many of the enterprises in increasing their sales as well as profitability. This project has been selected on the basis of fact that it will help investigator in development of technical skills which can be utilised by them in further research. It will also help investigator in fostering their personal as well as professional growth. Advancement in technology as well as emergence of internet has allowed the music companies to provide online services to customers. It has also allowed artist to share their song as well as information with public. Technology and online music streaming has also enabled artist to generate high revenue (Flick, 2015)

1.3 Full specification of the project

The purpose of project management plan is to suggest the strategies to Bandcamp’s company which can be used by management team in an organisation for increasing sales as well as profitability. There are several aspects which are to be considered by project manager when developing project management plan these are cost , quality ,communication. These constituents are to be considered when electing the digital technology. This Plan could also be used for identifying the need of use of technology or Online sound or video streaming for music shows. It is required by project manager to analyse or examine the effect of this strategy on business performance. Project plan is considered to be as official statement which contains essential information which is related to future plan. This plan assists an organisation in maintaining their performance, standard and identifying the area of improvement. It also supports managers in identifying the innovative ways for solving the several business problems. In context of Bandcamp’s company , business entity is facing the problems related to increasing profitability and sales. It is needed by firm to use Online sound or video streaming for music shows. As this strategy will help an organisation in attracting the customers as well as increasing the sales of music.

Cost : It includes all the expenses which are incurred by scholar for buying resources for conducting the investigation. Cost includes travelling expenses , stationery etc. It also includes cost incurred by firm for providing services as well as additional facilities to customers. In context of much industry , cost might include the expenses associated with the composition or recording of music etc. It is required by the project manager in an enterprise to focus on analysing the ways to reduce or control costs. As this strategy will assist business entity in increasing profit margins. The music company can make use of online platform for delivering , selling or sharing music. As this strategy will assist an organisation in increasing their sales as well as attracting more number of customers. Utilising the online platform for selling music will allow an enterprise to provides service to customer at reasonable price. It is crucial for manager in to include cost factor in project management plan. Manager in an organisation is required to conduct depth analysis related to the cost involved in use of Online sound or video streaming for music shows. As this activity will assist them in identifying the benefits which can be gained by the implementing the specific strategy at workplace. It will also assist management team in exploring as well as capturing several other opportunities.

Scope: It involves all the objectives or targets which are required to be accomplished by specifically by implementation or execution of project plan. It also consists of product breakdown structure and action as well as procedures. Scope supports manager in measuring the business performance and identifying the area as well need of improvement. It is required by Bandcamp’s company to develop their focus on improving customer services as well as utilising Online sound or video streaming for music shows. As this will provide firm an opportunity to maintain healthy relationship with customer. It will also support business entity in increasing its customer base.

Time :As Bandcamp’s company is operating in music which is service industry , it should adopt the strategy of delivering timely services to client. As this strategy will assist an organisation in delivering high level of satisfaction to customers. In context of project or research, Time is considered to be as an important factor which has significant impact on the operations. As all the activities in the project are interrelated delay in one single task can have significant influence on the quality of work as well as completion of the project. This factor also have direct impact on the output.

quality:It is considered to be as important constituent which is required to be maintained in order to reach appropriate as well as accurate conclusion. In context of organisation , quality of service plays a significant role in terms of fostering growth and achieving success by an enterprise. This variable has direct as well as major influence on the behaviour as well as choice of customers. Management team in Bandcamp’s company is required to set standards for measuring the quality of services. As this strategy will assist business entity in maintaining the quality of services. It will also help a firm in gaining the customer loyalty. As business entity is panning to use Online sound or video streaming for music shows, manager is required to concentrate on the quality of videos as well as audio. As this factor has great as well as direct effect on audience.

Risk :There are several obstacles which might occur in formulation as well as implementation of strategy at workplace. High cost in establishing platform for implementing technology. Lack of power supply can hinder the services. Network errors is considered to be another major risk associated with using Online sound or video streaming for music shows. In context of research activities, there is risk related to incomplete information from audience which might l4ead to wrong decision by project manager (Paustenbach, 2015)

Resources:It is considered to be as important components without which project can not be executed. There are several types of resources which are required for execution of project as well as achievement of goals by an organisation such as human resources , technology, finance etc.

Ethical consideration: Scholar has informed participants about the nature as well as objective of investigation (Hernandez,Prieto Martín and Ramalingam,2016)

1.4 Producing an appropriate project plan

Task 2

2.1 Matching relevant resources efficiently to the project

Resources plays significant role in the execution or implementation of the project or research. Lack of resources might create barriers in achievement of desired results. It also has direct as well as significant impact on the quality of information. It is needed by project manager to match business resources with the research questions as well as hypothesis which might have effect on the various aspects of the analysis of customer behaviour and client attitude. There are several resources which can be used by scholar for collection of data, these are:

Human resource: People are considered to be as important resources without them research can not be conducted. Employees as well as other members in an organisation are accountable for implementing or conducting the several activities during the project.

Financial resource: These are also recognised as important resources which is defined for each activity making effect on the all procedure of investigation.

Technical resources: It is generally used for communication. These form of resources have direct as significant impact on the overall effectiveness of the investigation (Laurence, Schmid, and Hewstone, 2018)

2.2 Undertaking the proposed project in accordance with the agreed specification

Research techniques- In present research, scholar have used the qualitative research techniques for facilitating investigations. The reason behind selection of this research technique has been selected as the investigator is aware about the information which an individual is required to gather (Kumar, 2014)

Research philosophies- positivism and interpretive are two types of investigation philosophies,.In present investigation doctrine of positivity for examining the impact of using Online sound or video streaming for music shows on sales as well as profitability.

Research Approach- deductive and inductive are two forms of research approach which can be used by the investigator for conducting the study. For examining the effect of using Online sound or video streaming for music shows on sales as well as profitability of an organisation scholar has implemented deductive research approach.

Research Design- descriptive,exploratory as well as explanatory are considered to be as some research design. In present research, scholar has used explanatory research design.

Data collection-Major two kinds of data collection that are primary data and secondary data collection. In the present study, scholar has applied primary data collection for examine the effect of using Online sound or video streaming for music shows on sales as well as profitability of firm.

Sampling- Random sampling has been used by the scholar for selecting the participants from large population. Sampling technique haver been used considering the population size. In present investigation 20 employees from within Bandcamp’s company has been selected as participant in the research (Parsons, 2013)

2.3 Organising , analysis and interpreting relevant outcomes

• Does the use of Online sound or video streaming for music shows will help an organisation in increasing sales and profitability?
  • Yes
  • No
  • or may be
• An organisation has the ability to use Online sound or video streaming for music shows ?
  • High potential
  • low capacity
  • medium capability
  • no potential
• Which form of medias can be adopted by the organisation
  • Social media
  • other Internet sites
  • Both
• What types of challenges that has been faced by Bandcamp’s company
  • decrease in sales and profitability
  • operational issues
  • technological issues
• Do you have knowledge about use Online sound or video streaming for music shows ?
  • Depth information.
  • No understanding
  • Specific information.
• Do you agree with the statement that use Online sound or video streaming for music shows has helped business entity in increasing sales as well as profitability?
  • Yes agree
  • Disagree

Does use Online sound or video streaming for music shows have ---- on organisational financial performance ?

• Positive impact
• Negative effect
• Or no impact

Recommending the technique or method which can be used by the management team in Bandcamp’s company for increasing sales , profitability and improving financial performance.

Task 3

3.1 Utilising appropriate project evaluation techniques such as PERT or CPM to evaluate projects

3.2 Interpretative as well as analysing the results in terms of your original project specification

Theme 1 :Yes use of Online sound or video streaming for music shows will help an organisation in increasing sales and profitability.

Interpretation: It has been interpreted from the above information that many of the employees in an organisation has agreed with the fact that use of Online sound or video streaming for music shows will help an organisation in increasing sales and profitability. While there are few employees who has stated that Online sound or video streaming for music shows will not help an organisation in increasing sales and profitability.

Theme 2 :An organisation has medium capability to use Online sound or video streaming for music shows.

Interpretation : It has been interpreted from the above chart as well as diagram that many of the workers in an organisation has stated that business entity has high potential to make utilisation of online sound or video streaming for music shows . This information has been provided by them on the basis of the fact that firm has expensive as well as valuable resources which will help firm in achieving the desired outcome.

Theme 3 : Both social and other internet sites can be adopted by the organisation Online sound or video streaming for music shows.

Interpretation: It has been represented from the given information that among twenty workers in an enterprise majority of employees have stated that an organisation should use the social media well other sites for providing services to customers.

Theme 4 : Decrease in sales and profitability issue has been faced by Bandcamp’s company

Theme 5 :Specific knowledge about use Online sound or video streaming for music shows.Interpretation : It has been analysed from above information that business entity is facing the issues related to the decrease in sales as well as profitability. Use of Online sound or video streaming for music shows will help an organisation in increasing sales as well as profitability.

Theme 6 : Yes agree with the statement that use Online sound or video streaming for music shows has helped business entity in increasing sales as well as profitabilityInterpretation: From the table it has been interpreted that there are many workers in an organisation those who have specific knowledge about use Online sound or video streaming for music shows. As these workers will assist business entity in gaining the several benefits. But still there are few workers in an organisation those are required education as well as training related to the use Online sound or video streaming for music shows. As this activity will help employees in their personal as well as professional development.

Interpretation: It has been analysed from the above information that majority of workers in an organisation has shown their agreement in the context of use Online sound or video streaming for music shows has helped business entity in increasing sales as well as profitability.

Theme 7 : use Online sound or video streaming for music shows have positive impact on organisational financial performance

Interpretation: It has been analysed from the above information that many of the employees in an enterprise has stated that use Online sound or video streaming for music shows have positive impact on organisational financial performance. There were few workers who do not have knowledge about the research topic stated that use Online sound or video streaming for music shows does not have any impact on business.

Task 4

4.1 Recording all stages of project procedures and project development used to complete project

Recommendation

From the study of Band camp it can be concluded that, there are various strategies which can increase it sales. It is recommended that company should start online audio and visual streaming for the music shows so that the audience for the musical programmes get increased through it and promotion can be done effectively reaching to larger audience as compared to performance of live shows. Micro site for the label can be another effective strategy which highlight their musical products, promotes them and can design and perform a marketing campaign for it in such a way that other websites and traditional market cannot perform. Online chat customer services can be opened where customer can put their request, suggestions, likes and dislikes which are very beneficial for the company to make marketing strategies accordingly, this will also lead to get connected with the audiences directly. Another strategy which can adopted is Personalised Web -radio stations, with the help of these internet radio advertising, one can reach a targeted audience which can be based on geographical area, gender or other aspects. Since many individuals uses computer smartphones and tablets which increases the chance of visiting the website or various pages of social media while streaming. This provide a great benefit who looks for driving traffic for their websites and radio stations. Play list related services can be introduced which leads the customer to choose their own kind of playlist comprising of the favourite songs. These playlist allows the customer to get connected as he gets satisfied with the available liked choices. Customer is free to play any song even on repeat mode. Extensive Social Media Integration increases the chance of effective promotion of their product as nowadays people are much engaged with social media and also it can reach to huge audience within a few time and can be promoted any time and any where. It is the most used and common strategy used in music industries as it gives a great exposure to artists and their talents. Country specific services can be used which leads to provide different services to different nation as the choices of different regions can vary , some may like the pop culture in music some might not.They can provide smarter track searches to the customer which can track the music choices with the earlier record of history or among the most opted in the past few days.

References

• Flick, U., 2015.Introducing research methodology: A beginner's guide to doing a research project. Sage.
• Hernandez, K., Prieto Martín, P. and Ramalingam, B., 2016. The Impact of Digital Technology on Economic Growth and Productivity, and its Implications for Employment and Equality: An Evidence Review (No. IDS Evidence Report; 207). IDS.
• Laurence, J., Schmid, K. and Hewstone, M., 2018. Ethnic Diversity, Inter-group Attitudes and Countervailing Pathways of Positive and Negative Inter-group Contact: An Analysis Across Workplaces and Neighbourhoods. Social indicators research.136(2). pp.719-749.
• Kumar, R., 2014. Research methodology: A step-by-step guide for beginners. Sage.
• Parsons, A., 2013. Using social media to reach consumers: A content analysis of official Facebook pages. Academy of Marketing Studies Journal. 17(2). pp. 27.
• Paustenbach, D. J., 2015.Human and Ecological Risk Assessment: Theory and Pactice. John Wiley & Sons.Xi, M. and Smith, S. P., 2014, March. Simulating cooperative fire evacuation training in a virtual environment using gaming technology. InVirtual Reality (VR), 2014 iEEE(pp. 139-140). IEEE.

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