A Change Control System

You have been hired as a consultant to analyse and provide a business project plan for company “HealthTech Global Ltd”, who are a start-up company developing AI tools for detecting medical conditions using a range of reporting methods. They are based in Cambridge and the CEO Prof Helmut de Greef, gained funding to start the company in 2019 from an Innovate UK competition.
Since the initial funding the company has grown with offices now in New York, Paris and Sydney to help with global sales. They have plans for more global research centres in the next 2 years. To increase the growth of the company, it has been decided to gain funding from a Venture Capitalist (VC) for £3M and they need your professional guidance to create a suitable project plan to secure the funding and reassure the company the are able to manage such large scale global projects. The issue for the company at the moment is that their project management approach has been ad-hoc, with no real structure or project control. However, the company have been successful and the close relationship with the engineering and medical teams and sales has meant that customers are generally happy. Healthtech’s products have been installed and are working well for a number of medical establishments around the world.
Prof de Greef is however concerned that they will be thoroughly examined in terms of their business practices by any future investor and thus they need to ensure that their processes are thoroughly rigorous and up to date. He has asked you therefore to research their current ad-hoc processes and recommend a new way of working that can be implemented before any VC investment round commences – This will be a project deliverable. The new way of working will need (but is not limited to):
• A Project Management Methodology (Agile, Prince etc)
• A Cost Control System
• A Change Control System
• A Project Estimation System
• Any software that would be useful (Basecamp, Slack etc)
You will be expected to create a report for the board that will outline a strategic approach to gaining funding through robust business processes and roles of 2pprox.. 2500 words plus added diagrams and references. References to medical projects in the research would be advised, as would methods for start-up companies that are growing. Prof de Greef has a particular interest in maintaining patient and client confidentiality and this should be addressed where it is pertinent.
Your report must have examples of best practice for implementing a robust project management approach. It is expected that these come from leading industry groups such as the PMI (Project Management Institute), AXELOS and any others you feel add authority to the report. Specifically, you need to address how a company would move from an ad-hoc way of working to a fully managed Project and Portfolio model. Include creation/changes to departments, staff and working practices. The CEO is especially interested in how this will produce effective, efficient and accountable ways of working and what the cost implications of this might be. You report must be business focussed and not purely academic and must show creative and reflective proposals.