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.