Unit 6: Business Decision Making - Sources for the Collection of Data
Introduction
Decision making plays a significant role as well as it is an integral part of every business entity. Organisations needs to take decisions on daily basis which is very helpful to make form profitable in the industry where it operates. The present report is based on the cross rail project which is UK based and from this government wants to enhance railway services. The project will be very helpful for local community of London. The research describes data collection method and data analysis using various measure of dispersion tools. It throws light on various graphical methods which are used to represent data and findings in effective manner and analyst is easily able to interpret data. In the last task project management tools as well as investment appraisal techniques describes to take financial decisions of the firm.
Task 1
1.1 Background, rationale and objectives of research
Background
The project is on the basis of cross rail project which is implement by government of United Kingdom. In the London it is expected that population will be increase to 10 million up to the year 2030. The government wants to reduce overcrowding at the railway stations as well as decrease cost of transportation, for this it is going to implement the mentioned project. It wants to enhance travelling services by reduce total duration of transportation by which rush will be decrease at the railway stations. For analyse all the elements, present research is conducted by the researcher.
Rationale
It is a section of research part which shows detail explanation that why the analysis is important (Forngos, 2012). In the present case research is based on implementing cross rail project in united kingdom. The research is important for aware people regarding the project and to know expected outcome after implementing it. From the project government wants to know that, it will reduce overcrowding, will contribute in the economy of country etc. From the research government is able to take better and effective decisions for implement the project in the country.
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