Applied Business Project and Project Management

22B1761

Bachelor

English

10.0

winter- and summerterm

1 semester

In this module, a business management project that is based on a real case provided by an external organization gives students the opportunity to apply management tools, concepts and frameworks to develop strategic and/or operative solutions for a given business problem. By working on the tasks in small teams over the course of the semester, students will experience first hand what it means to work together in a team, including all its ups and downs. The complexity and interdisciplinarity of many business issues usually requires structured, planned and team-oriented work. The way in which team members relate to each other influences how they work on the content; in many cases their cooperation is what makes it possible in the first place. During the project, students are supported by lecturers to optimise their performance, to mobilise resources for effective and efficient problem-solving and to reflect on their own behaviour and decision-making within the project team. The diverse ways in which the team members think and act will be valued and used as a opportunity for synergies. Students become acquainted with various techniques and tools for project management by actively applying them as they work on their project tasks. Upon completion, students present to and discuss their results with the external organization.

The business management project essentially pursues the following goals:
- the in-depth examination of the content of a real business problem (project assignment),
- the development of relevant solutions for companies and organisations outside the university in accordance with the project assignment, 
- the training of partnership-based, team-oriented work, 
- the learning and application of project management methods using a practical example, 
- the professional presentation and documentation of the developed results for the external partners.

Most projects are interdisciplinary and cover general management as well as multiple business functions. Although some projects may focus on specific disciplines, the module is part of the core curriculum (i.e. not part of specialisations).

Depending on the case study provided by the external organization, selected business and management topics are reviewed, introduced and discussed. The given overall problem is broken down into multiple sub-projects that can be addressed independently by the student teams.

Instructions and coaching sessions regarding interpersonal skills, as well as project management throughout the semester, will support students in their personal effectiveness when working on the assigned topics.

1. Project task (formulation of the topic and the objective)

1.1 Definition and analysis of the task, incl. an assessment of the context

1.2 Development of hypotheses/research questions

1.3 Elaboration of possible solution approaches

1.4 Development and formulation of recommendations

2. Basic principles for team management

2.1 Roles in the project team and effective team composition

2.2 Organization of oneself and the other team members

2.3 Stages of team development

2.4 Self-responsibility in the team

2.5 Use of synergetic effects

2.6 Project team culture, standards and rules

2.7 Effective and efficient communication and cooperation

3. Basic principles for project management

3.1 Target setting

3.2 Project planning and organization

3.3 Process definition and milestone setting

3.4 Documentation

3.5 Presentation and discussion of the results

The total workload for the module is 300 hours (see also "ECTS credit points and grading").

The business project is defined by a starting and ending date and has a clear objective, which determines the structure of each project. Depending on the objective, conventional and/or agile project management techniques are introduced. A thorough project management aims at ensuring that the expectations of the external organization are met or even exceeded. The module aims at introducing students to specific problems taken from a practical context, in which tasks are typically solved by teams.

Overall, the module offers hands-on experience and exposes students to real-world business challenges. It enables students to experience teamwork processes and requires them to reflect on team dynamics, as well as individual behaviour. The acquisition of external partners, the management of their expectations and the definition of the tasks are handled by the lecturers prior to the start of the semester.

All team processes, including the selection of appropriate business and project management methods are accompanied and coached by the lecturers in order to ensure quality management and support the teams in mobilizing available resources. The diverse ways in which the team members think and act will be valued and used as a opportunity for synergies.

• Portfolio exam

The portfolio exam covers 100 points and consists of one written project report (PSC) and one presentation with written report (R). PSC is weighted by 40 points and R is weighted by 60 points.

Project report (PSC): approx. 20-50 pages

Report (R): Presentation of approx. 20 minutes with written report of approx. 20-25 pages

The requirements are specified in the respective lectures.

- Foundation courses in General Business Administration, Marketing, Finance and Controlling

- Management Tools and Academic Writing

Students who successfully complete this module are able to appraise a business problem, determine appropriate theoretical frameworks from various disciplines (e.g. management, marketing, entrepreneurship, operations management, innovation management and international business) and employ the latter for developing a solution to the given problem. They are able to explain the dependencies, define the scope of a project and explore the context. They are able to implement methods of project management and team work to facilitate processes and improve work results.

Students who successfully complete this module deepen their understanding of the benefits as well as limitations of management tools, concepts and frameworks by adopting them autonomously in practice. They appreciate them for structuring, analysing and hypothesising business problems and compiling solutions. Methodological skills regarding project management and team work empower students to execute complex tasks independently.

Students who successfully complete this module are able to articulate, contrast and criticise various managerial recommendations/options and select the most viable one. The latter cannot only be thoroughly explained, but justified by drawing on the underlying theoretical frameworks and the case-specific evidence. By knowing the benefits and limitations of  methodological skills to handle complex tasks, they are able to decide for an individual approach that empowers them to create valuable solutions. Upon completion, students critically reflect the developed solutions and the team processes.

Students who successfully complete this module are able to apply and leverage theoretically acquired tools, concepts and frameworks of Business Administration/Management in practice (i.e. in different companies, organizations, industries and geographical settings) and develop valuabe solutions for complex tasks and problems. Students can select, implement and modify approriate tools and techniques for effective team work and project management. They are empowered to carry out project work systematically by planning work processes (incl. milestones), understanding how to develop hypotheses and using them for assessing possible solutions to a problem. Students are able to present the rationale for and essence of the solutions in a concise and comprehensible way. They have the skills to organise themselves and others within a team and are able to critically reflect on their strengths and weaknesses in team work and identify goals for personal improvement.

Students who successfully complete this module can utilise their theoretically acquired knowledge and problem-solving methods in unfamiliar (business) contexts. They identify research needs, compile necessary pieces of information, analyse data and interpret the results to develop managerial recommendations. Furthermore, they know how to address and handle unexpected developments in projects and business situations by adjusting approaches and employing additional methods.

Students who successfully complete this module have the ability to mobilize and coordinate human and physical resources and involve all necessary stakeholders to accomplish goals. They can initiate and moderate discussions, detect conflicts and work constructively in an inclusive manner to resolve them. Students can present results to other team members, external parties and knowledgeable/critical audiences, both verbally and in written form (including the process steps involved in developing the results) convincingly by explaining the underlying assumptions and revealing the line of argumentation. They can effectively respond to questions, suggestions, criticism and other feedback and can moderate a discussion regarding their topics and defend their positions in it. Furthermore, students are able to select approriate methods to document results, especially for maximizing transparency.

Students who successfully complete this module are able to take responsibility for complex projects, organise a team and plan the necessary tasks to accomplish the goals. They are able to manage projects in a professional way, independent of the context. They are able to distribute tasks, compile results and work towards a valuable solution. Finally, students are self-critical and can reflect on work processes and results for continuous learning.

The module is a capstone course that requires students to apply theories, knowledge and expertise from all modules in previous semesters to address a real-world business problem. In their independent work, students need to identify tools, frameworks and techniques independently and determine whether they are useful for carrying out the task given to them by the external organisation.

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