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Week 5 Apply business plan

Week 5 Apply business plan

Q For a Business Plan to be effective, it is critical that managers track the progress and development of their proposed plans. Managers can leverage various tools, such as a Gantt Chart, to track and evaluate the effectiveness of business plans. As part of your Business Plan this week, you will create a Gantt Chart for your proposed Business Plan. Create a Gantt Chart that can be used to track your progress, ensure you are meeting your business goals, and secure funding and investors. Track your progress via the use of critical milestones. In a 525-word document, include the following: • Your created Gantt Chart to support your Business Plan • Your tracked progress via the use of critical milestones • A justification of how you will use your Gantt Chart to evaluate the effectiveness of your Business Plan • A justification of how you will use your Gantt Chart as a means to secure funding and investors Submit your assignment.

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So we can use the Gantt chart in our business plan to identify the essential task. This will also help us to fix who will be responsible for certain work (Tools, n.d.). The chart will also help us to determine the amount of time that a certain task will take to complete (Tools, n.d.). The schedule will help us stay in relief that the schedule is quite efficient and the right people are assigned to the given task. The chart will tell us the practical aspect of the project like how it will be delivered and which task is needed to be given priority first (Tools, n.d.). The chart provides a visual of what steps are needed to be taken and when they can be taken. The chart will clearly describe any kind of interrelation between a tasks that is if there is any task relying on another task (Wrike, n.d.). Using the Gantt chart certain benefits affect the business plan. The first is to break down the project into smaller parts that can be easily managed (Wrike, n.d.). The second is that it allows the team member to understand the relationship between various tasks or the relation between team members (Wrike, n.d.).This will help us to visualize the current progress of the business plan. Finally, the Gantt chart will help us to understand or foresee any kind of risk in the upcoming task (Wrike, n.d.).