The goal of this business case on the Millennium Project was to create a project that would motivate individuals to embrace a future approach to learning. The project's objectives include:
The procedure used for the business's growth comprises first identifying problems and then trying to fix them. The strategy is broken down into the following steps:
In today's fast-paced world, knowledge and technology are always changing, making it necessary to stay current. Humankind must advance towards improved decision-making continuously and take on a leadership position. Therefore, it has become crucial that businesses and individuals take a responsible attitude toward sustainable development. People need to have a global mindset and create techniques for learning from global practices rather than relying simply on local expertise. This highlights the importance of having a broad, forward-looking mindset, which our initiative tries to encourage (Jerome C. Glenn & Theodore J. Gordon, 1996).
Because the procedures are not coordinated, and the study on the issues is not good, the existing system is not effective enough to handle the prospective advances sustainably. Most of the time, political concerns remain unsolved, which disrupts the peace and leads to disputes in the administration of development activities.
These disputes hamper the formation of national policy. Also, the database utilized by development organizations is not organized, making sharing information challenging. Also, the interface for accessing information systems is not yet modernized with the most recent technologies. These challenges act as roadblocks in developing a global and future-focused political approach to development. The project's goal, which is to create a dependable system of development that includes continuous updates, improvements in thinking, updates on futuristic information through the use of a variety of media, and development of new and pertinent policies using research and institutionalization, is clearly outlined in the business case.
The project aims to create a technologically advanced information system that can produce early warnings of major world problems so that timely action may be taken. Research and development, where research entails project feasibility analysis and development entails the creation of a unified information system for global learning and development, are two major components of the business case addressed. Two methods might be used to undertake the project's feasibility study, including:
Option 1: Using interview techniques, gather ideas and information about problems and their solutions from futurist experts to determine how the Millennium project may be planned and carried out.
Option 2: Another choice is to undertake feasibility studies using long-range forecasting techniques, reports, and strategy discussions.
The Millennium Project's scope includes gathering a broad range of data from several research sources, including academic studies, widely used development models, journals, and research databases.
Timelines: Faze I of this project, which was to be carried out in 1993, is described in the business case. During this phase, the research data was made publicly available. After that, a survey was to be undertaken to collect the most recent data for research scheduled to be finished by the year 2000.
According to the provided business case, the principal participants in the Millennium development project were:
Risk analysis is done to comprehend the likelihood and effect of risks so that proper actions may be taken to address hazards as needed. The following actions should be performed in response to the identified risks in this situation:
The financial consequences and business risks were addressed in this business case, along with other important case analysis topics. There were talks on the project's business benefits, which were qualitatively justified. However, a cost-benefit analysis could not be done since insufficient data on the project's financial earnings existed.
Two feasibility analysis methods were suggested and used in the case. As a result, the Millennium project received joint advantages from the project representatives, futurists, readers, and journalists. A step-by-step evaluation method was employed to obtain exact data as part of the feasibility study's data-collecting process, divided among various panels. If contemporary technology, such as software management systems, can methodically decode the concerns, the time and money spent on the processes to find the issues may be decreased. Moreover, a survey may have been a more efficient and cost-effective way to get the data than interviews (UNSW, 2015).
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