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PRJ6001 Applied Project Report 1 Sample

Assessment 1: Project Brief

Report outlining what research project could be carried out and how the project could be analysed and evaluated to address the project or business goal/problem.

Assessment 1 Detail

A report outlining the project to be carried out, analysed and evaluated to address the business goal/problem.

A Research Proposal Brief early in the semester is to ensure feedback about the suitability of the topic and which informs others of a proposed piece of research and its significance. This is the outline of the Research Proposal that could be used as part of an application to undertake a research degree or to apply for funding to conduct the research.

For Assessment Task 1 you need to prepare an outline of your proposed research topic and research plan for investigating the topic using a structure like shown below:

1. Project Title: This is a brief descriptive summary of the proposed research topic. For ideas on how a project title should look, see the articles in Project Management journals such as the International Journal of Project Management.

2. Research Overview and Justification: This is a summary of the research topic that describes the topic and why it is important for a research study to be conducted to investigate the topic.

3. Brief Literature Review: Outline the objectives, methodologies and findings of at least three most relevant literatures recently (within last 5 years) published that provide a background for your research topic.

4. Research Objectives, Research question and Sub-questions: Linking back to sections (2) and (3), present and justify the question that your research project will be designed to answer.

5. Methodology: Details about how you would answer your research question (e.g., by reviewing trends in national / international statistics, by conducting a survey of consumers, by undertaking interviews with employers) and start to consider any advantages, disadvantages, materials needed or practical limitations of the methodology.

6. Significance of the research of the project. A summary of the sections ending with a statement of why it is important to conduct the research using the methodology proposed.

7. Ethical issues. This section would cover any ethical issues (following APIC policy) that are
considered in the research.

8. References and Resources: provide references to key research studies, government reports and/or industry reports using Harvard Referencing.

Solution

Project Title

Pertaining to the research topic is “Rise of interest rates Reserve bank of Australia”, the title that will be chosen for the research will be “Traversing through impact: Elucidating the Rise of Interest Rates by the Reserve Bank Of Australia”. The research will focus on an integrated comprehension of the implied surge in the rate of interest by the Reserve Bank of Australia (RBA). For Assignment Help, Laying emphasis on the complicated interconnectedness between the variables of economy and formation of policies, the study will aspire to elucidate the impacts which are multifaceted on the financial landscape of Australia, providing perspectives to formulate strategies for makers of policies.

Research Overview and Justification

The topic for the proposed research is concerned with the latest orientation in the rates of interest in Australia, especially the one of the Reserve Bank of Australia (RBA). The imperativeness of the study lies in its consequential implications such as fluctuations in the rate of hold of different stakeholders, such as businesses and customers, incorporating the broader economy as well. To have a cognizance of the dynamics behind the heightened rate of interest is pivotal for policymakers and businessmen to form monetary policies which would be effective and which can help in the mitigation of prospective unpropitious impacts on the growth of economy and inflation. Moreover businesses can foster an indispensable perspective towards the transformative financial landscape, corroborating their interests with informed decision making about investments, expansion of strategies and borrowing money (Nanez Alonso et al. 2020). Consumers too can make an integrated evaluation to remain illuminated about the prospective effects of their spending and borrowing behaviour, enabling their financial welfare.

Brief Literature Review:

Objectives

- To analyze the causes which make RBA raise their rate of interest in Australia.

- To comprehend the economic benefits associated with the raising of rate interest by RBA.

- To investigate the factors that cause high rate interest and high rate of inflation.

- To explore the reasons which led to the RBA to raise their rate of interest.

Methodologies

The methodologies that will be used for the research will be qualitative in nature.

Relevant literatures

- “Interest rate smoothing and optimal monetary policy: a review of recent empirical evidence” by Brian Sack and Volker Wieland offers an exploration in the process of making decisions of the RBA related to the rates of interest (Sack and Wieland 2000).

- “Is the RBA Economic Logic Faulty?” An original article by Eduardo Pol deals with the economic argumentation of the bank to deal with inflation (Pol 2020).

- “RBA review a missed opportunity” by Anis Chowdhury deals with the discrepancies which are laid within the reviewing panel to gauge opportunities (Chowdhury, A., 2023).

Research Objectives, Research question and Sub-questions

Research questions

The research which has been proposed focuses on dealing with the question-

- What are the complicated factors which prompted the RBA to heighten the rate of interest?
- How do these resolutions influence the economy on the broader landscape, incorporating the rate of inflation and economic equilibrium?
- What will be effects on the businesses, consumers and economy at a broader scale?
- What is the interconnectedness between rate of interest and inflation?

The research or project will venture to seek the intricate factors which performs the role of causatives behind the decisions of the RBA to raise the rate interest, consequently offering an integrated comprehension of the contrivances which are in execution. Through the exploration of the economic advantages of modification of the rates, the project will intend to provide expository insights into the imputations it has on various businesses, consumers and to the economy at large. The project will also evaluate the interconnectedness between high rate of interests and inflation, focussing on reasons which foster these circumstances.

Methodology:

In order to give a proper addressal to the questions of the project or research, a multi directed qualitative method will be incorporated. A qualitative method of research is directed in focussing on the exploration of the opinion of people, their response and behaviour, and listening to their experiences to fathom complex ideas and occurrences (Roller 2019). It incorporates collection of data which are non numeric in character by techniques such as interviewing them, observing their behaviour and responses and focussing on a particular group. The aim of this method is to foster an insight which will be profound in nature, paving way for an integrated comprehension in the context of society and behaviour. The project will aim at evaluating government websites, laying focus on information pertaining to the RBA’s decisions of raising rate of interest. Moreover, the research will conduct surveys amongst businessmen and consumers to achieve commendable perspectives of their responsiveness towards the increase in rate of interest and to gauge an understanding about how much they have benefited or struggled under its impact.

Significance of the research of the project.

The importance of the research will lie in focussing on the evaluation of the factors which prompt the RBA to heighten the rate of interest. It will also signify towards the contribution of an understanding of the economic benefits associated with the decisions of the RBA to increase the rate of interest. A section of the project will also conduct an investigation into the interconnectedness between the high rate of interest and the levitated interest in the rate of inflation, seeking to identify the reasons which confer these occurrences. The importance of the research will also lie in the exploration of the determined catalytic agents which has precipitated in hiking the rate of interest, assessing both external and internal factors. The project might benefit policy makers to plan their strategies and empower consumers to make logical and advantageous decisions based on information.

Ethical issues

The Australian Research Integrity Committee (APIC) lays guidelines for the maintenance of ethics which would be a peremptory concern for the research or the project to follow (Zulfikar et al. 2020). The ethical issues that the project might face will be while gaining information through interviews. Obtaining consents about information can be a challenge from stakeholders and policymakers. Collection of data exempt of any prejudices will be essential for transparent and honest findings for the project. It will be essential to circumvent situations giving rise to conflicts, safeguarding the rights of participants of the interview.

Conceptual framework

Gantt Chart

References and Resources:

 

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