Assignment Final Report
Assignment Final Report
Unit number and title Unit 6: Managing a Successful Business Project (5039)
Plagiarism
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penalised. It is your responsibility to ensure that you understand correct referencing practices. As a university level student, you are expected to use
appropriate references throughout and keep carefully detailed notes of all your sources of materials for material you have used in your work, including
any material downloaded from the Internet. Please consult the relevant unit lecturer or your course tutor if you need any further advice.
Student Declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I declare that the work
submitted for assessment has been carried out without assistance other than that which is acceptable according to the rules of the specification. I
certify I have clearly referenced any sources and any artificial intelligence (AI) tools used in the work. I understand that making a false declaration is a
form of malpractice.
P1 P2 P3 P4 P5 P6 P7 P8 M1 M2 M3 M4 M5 D1 D2 D3
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Table of Contents
INTRODUCTION...........................................................................................................................................................4
PART A: PROJECT MANAGEMENT PLAN......................................................................................................................5
I. Explain and evaluate the stages of the project lifecycle (PLC) and their importance to the success of a project. 5
II. Examine and evaluate the factors to be considered when compiling a project management plan (PMP)........12
2.1. Objective.....................................................................................................................................................12
2.2. Time management......................................................................................................................................13
2.3. Budget........................................................................................................................................................13
2.4. Human resource..........................................................................................................................................14
2.5. Risk management.......................................................................................................................................14
III. Examine and evaluate a range of research methods and strategies and their importance to project
management.........................................................................................................................................................15
3.1. Primary data collection...............................................................................................................................15
3.2. Secondary data collection...........................................................................................................................17
3.3. Qualitative research method......................................................................................................................18
3.4. Quantitative research method....................................................................................................................20
3.5. Mix research method..................................................................................................................................23
2.4. Produce a detailed PMP that covers aims, objectives, deliverables, quality, risk, communication, resources
and research methods...........................................................................................................................................25
PART B: CONDUCTING PROJECT................................................................................................................................35
I. Conduct the business project.............................................................................................................................35
1.1. Status of Techcombank...............................................................................................................................35
1.2. Methodologies used in project...................................................................................................................37
1.3. Survey of employee’s opinion about benefits and pitfalls of AI..................................................................37
1.4. Recommendations......................................................................................................................................48
II. Project reflection...............................................................................................................................................50
CONCLUSION.............................................................................................................................................................54
References.................................................................................................................................................................54
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INTRODUCTION
Artificial Intelligence (AI) is rapidly evolving, becoming a valuable tool for industry businesses to
streamline operations, reduce production costs, and meet company objectives. It is expected to
significantly change recruitment, labour needs and human resources in the future. For example, through
automating repetitive tasks such as screening CVs, scheduling interviews, and conducting background
checks human resources professionals will save time. Growth can also be accelerated by leveraging AI to
provide sales and marketing teams with the right analytics and customer insights to capture demand.
Additionally, it can boost sales effectiveness and performance by offloading and automating many
routine activities, and AI plays a very significant role in enhancing customer experiences. According to
the Forbes Advisor survey (2023), 73% of businesses use or plan to use AI-powered chatbots for instant
messaging.
I. Explain and evaluate the stages of the project lifecycle (PLC) and their importance to the success of a
project.
Project management is the planning and organization of a company's resources to move a
specific task, event, or duty toward completion. It can involve a one-time project or an ongoing activity,
and resources managed include personnel, finances, technology, and intellectual property (Mansa &
Jasperson, 2024). It applies specialized knowledge, skills and tools to plan, monitor and evaluate project
performance. Project Management plays an important role in ensuring the success of projects in the
enterprise. Project Management helps optimize the workflow by clearly defining the steps to be
performed, assigning specific tasks to each member, and closely monitoring progress. This helps avoid
wasting time and resources, thereby improving the efficiency and productivity of the entire team.
Through planning, organizing, coordinating and controlling resources, project management helps
optimize workflows, minimize risks and prevent waste of resources. This helps to avoid unwanted
problems and minimize negative impacts on the project. Project management helps to closely monitor
and control costs, thereby ensuring that the project does not exceed the budget. This is especially
important for businesses with limited financial resources. It helps businesses quickly react and adjust
plans when changes occur, thereby maintaining stability and continuity during project implementation
(vtia, 2024 ). At the same time, project management also helps ensure that everyone involved
understands their roles and works together to achieve common goals. Thanks to project management,
organizations can optimize resources, improve work performance and bring value to customers.
Project management plays a vital role in ensuring the success of project information through
effective planning, organization and control of resources. By optimizing the workflow and minimizing
waste of time and resources, project management helps improve team performance. At the same time,
it supports cost control, budget optimization and helps businesses respond to changes. Risk
management is also a prominent benefit that helps minimize negative activities and maintain project
stability. All these factors not only save time and costs but also improve the quality of the final product,
increase customer satisfaction and contribute to the overall success of the organization.
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A project life cycle, or project cycle, is a series of stages that a project passes through from its
inception to its completion. The number and sequence of cycles are determined by management and
other factors such as the needs of the organization involved in the project, the nature of the project, and
its application area. These cycles have a beginning, an end, are controlled, and are constrained by
time.The project life cycle can be defined and modified according to the needs and nature of the
organization. Every project has a definite beginning and end, specific objectives, products and various
activities. The project life cycle provides the basic foundation of any specific work related to the project.
All projects can be mapped to a common life cycle structure consisting of four phases : starting the
project , organizing and preparing , carrying out the project work and closing the project .
Starting the project is intended to define and authorize the project. This phase is aimed at
developing the objectives and specifications for the project .The scope of work and the resources
required are determined. The initial phase is the foundation for the entire project. If the goals and scope
are unclear or inconsistent with organizational goals, the project may waste resources or fail to achieve
the desired results. Feasibility and benefit/cost analysis at this stage helps the organization identify risks,
technical or financial constraints early. This helps avoid wasting time and resources on an unfeasible
project. Identifying stakeholders and communicating clear goals helps build consensus and commitment
from them. Therefore, the project initiation phase is extremely important and must be done to ensure
continued support from stakeholders throughout the project. Clearly defining the project scope and
goals helps avoid unwanted scope creep later (Chu, 2019). An ill-defined scope can lead to increased
costs and extended timelines without delivering the value that is expected. When there is careful
preparation from the beginning stage, the chances of the project being successful are much higher. This
stage ensures that the project has a solid foundation to continue to develop and succeed in the next
stages.
This phase helps to clearly define the project objectives and scope and make them measurable,
which is essential to align the project with the organization's goals and that all Stakeholders have a
common understanding of what the project requires (Carroll, 2024). Early identification and engagement
of stakeholders helps to gather the necessary support and understand their needs and expectations. This
proactive approach minimizes misunderstandings later in the project life cycle. Conducting feasibility
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studies and risk assessments at this stage allows for potential challenges to be identified early on. This
foresight allows for the development of mitigation strategies, reducing the likelihood of project failure.
Additionally, identifying stakeholders and clearly defining goals at this stage builds consensus and
commitment from the start, increasing the chances of continued support. Early stages sometimes focus
too much on immediate feasibility rather than long-term benefits or scalability, which can cause
problems in later stages.
However ,this phase can be time-consuming and resource-intensive, especially when feasibility
studies and stakeholder identification are required, which can delay the start of actual project work. This
phase sometimes focuses too much on immediate feasibility rather than long-term benefits or
scalability, which can cause problems in later phases. The initiation phase can limit the ability to adapt to
changing circumstances or new information that arises after initial planning. This rigidity can be
detrimental in dynamic environments where flexibility is key. Additionally, rigid initial plans may hinder
the project's ability to adapt to new information or changing circumstances, which can be detrimental in
dynamic environments.
The purpose of the organizing and preparation phase is to come up with a detailed strategy on
how the project will be implemented and how it will be implemented to make the project successful as it
will help the project to be clear and systematic, avoiding chaos and confusion. This is the phase where
specifications, diagrams, schedules, and other plans are developed. Work packages, sub-divisions, tasks
to be performed, and completion are defined. Project planning consists of two parts: Strategic planning
and Execution planning. In strategic planning, the overall approach to the project is developed. In
execution planning, how those decisions are implemented is sought. Management considerations in this
phase include: The project timeline should clearly define key milestones and ensure sufficient time for
the approval process. The project scope should specify the timing and deliverables to avoid deviations,
with room for adjustment as needed. Project communications should set expectations about how and
when to communicate, especially when working with cross-functional or external teams. Project
managers should assess potential risks and develop contingency plans. Accurate estimating, using a work
breakdown structure (WBS), makes it easy to spot deviations. Work processes must be clearly defined,
including how to interact with stakeholders. Finally, assigning clear roles and responsibilities to the team
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helps ensure the project moves forward on track. Planning is an important part and core function of
management. A plan guides and details what needs to be done, how to do it, when to do it, and who will
do it to ensure that an individual, organization, or business achieves its goals on time and with the
desired results. A detailed, clear plan not only helps the team work effectively, minimizes risks, but also
ensures the quality of the final product. Thanks to the plan, every member of the team will clearly
understand their role, creating transparency and flexibility in the project implementation process. In
short, a good plan is a solid foundation to help the project achieve its goals on time and within budget
(Tan, 2024). The preparation and organization phase is the foundation for the project. Careful
organization and preparation help to clearly define the goals, ensure that resources are used effectively
and optimize time. At the same time, it also helps to identify risks in advance and provide timely
response plans. If this phase is ignored or not carefully implemented, the project is at risk of
encountering many problems when doing the upcoming phases such as scope deviation, budget
shortage, schedule delay or unsatisfactory quality. Therefore, careful preparation helps to minimize risks,
optimize the work process, and increase the likelihood of project success.
Thorough preparation includes conducting feasibility studies and risk assessments, which help
identify potential challenges before they arise. This foresight allows for the development of mitigation
strategies, reducing the likelihood of project failure (Spark, 2024). Involving stakeholders in the
organizing phase promotes engagement and support for the project. Clearly communicating goals and
expectations helps build trust and commitment among all stakeholders (Nancy Dosdall, 2024). The
organizing and preparation phase allows for careful selection of team members based on their skills and
experience relevant to the project needs. This strategic approach enhances team dynamics and
accountability.
Organizing and preparing can be time-consuming and labor-intensive, which can slow down the
actual implementation phase, especially when unexpected complications arise. While planning is
essential, focusing too much on the details can lead to analysis paralysis, where teams get bogged down
trying to anticipate every possible scenario instead of actually executing (HRchannels, 2024). Risk is the
risk of spending too much time on preparation and organization, when the project is delayed by focusing
too much on the details. If resources (such as budget, personnel, or materials) are limited, the
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preparation process can reveal deficiencies that disrupt or limit the feasibility of the project. Successful
organization depends heavily on accurate data regarding resources, risks, and stakeholder expectations.
Inaccurate or incomplete information can lead to poor decisions that negatively impact the project.
Carrying out the project work is usually the longest phase in the project management process.
During this step, the project manager is often under a lot of pressure from tracking the project budget,
timeline, resources, and risks. All the documents you create in the planning phase will come together to
form a comprehensive management plan. The project manager should focus on assigning tasks and
setting clear KPIs for each member and team, organizing a reasonable workflow. They need to motivate
the team through timely rewards and criticism while optimizing the use of resources and ensuring
project progress. The project manager also needs to respond flexibly to crisis situations, always have
backup plans in place, and update information immediately so that stakeholders have a clear overview.
In particular, monitoring and control activities will also take place in parallel with the project
implementation process. Enterprises need to monitor all information such as budget, quality, risk,
performance, etc ,..so that the project is on track .The main focus here is on deliverables, both internally
within the team and with the client and stakeholders, which are reports shared internally within the
team and also the finished products that keep the client informed of the progress of the work. The
project manager needs to track the progress of the project and closely monitor each stage of the
process. The most important thing is to set the right direction and ensure motivation for team members.
The implementation and delivery of work creates real value and directly affects the success of the
project. Team management ensures the performance and spirit of cooperation of the team. Progress
monitoring and risk management keep the project on track, minimizing risks that affect time and cost.
Quality assurance maintains high standards and minimizes remediation costs, while information
management and communication keep stakeholders in sync, enabling quick decision making. Finally,
budget and resource management ensures projects are completed on time, within budget and using
resources efficiently (Vitranet, 2023).
This phase focuses on creating project outcomes and goals, moving the project from the
organizing and preparing stage to the achievement of specific results. Successful execution directly
contributes to meeting stakeholder expectations and fulfilling the project's purpose. Carrying out the
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project work as members collaborate to complete tasks. Effective communication and coordination
among team members increases productivity and ensures everyone is aligned with the project's goals.
During execution, teams can receive immediate feedback on their progress, allowing for quick
adjustments to strategies or processes as needed. This adaptability helps address real-time challenges,
improving the overall responsiveness of the project. The execution phase provides an opportunity to
optimize resource allocation, ensuring that personnel, budget, and materials are used efficiently. Proper
management during this phase can lead to cost savings and better outcomes. This phase often includes
tracking mechanisms that help track progress against timelines and budgets. Regular reviews allow
project managers to identify delays or issues early on, allowing for timely intervention. Additionally, this
phase promotes teamwork and working together to achieve common goals. Effective collaboration
enhances communication and coordination among team members, leading to improved productivity and
morale.
In carrying out the project, lack of close coordination between departments can lead to late
detection of problems, extending the project implementation time. Despite careful planning and
organizational preparation, unforeseen problems can lead to deviations from the original timeline or
budget, creating the risk of delays and cost overruns. When there are many tasks going on at the same
time, effective communication is important but can also be a challenge. Poor communication is at the
core of most project failures. It undermines cohesion and clarity. It opens the door to misunderstandings
between team members and stakeholders, and it erodes trust (Blink, 2024). Additionally, projects may
encounter unexpected resource constraints during implementation, such as staff shortages or budget
cuts. These constraints can impede progress and impact the overall outcome of the project. The carrying
out the project phase is often the longest phase in the project lifecycle, which can lead to team member
fatigue and potential delays in product delivery if not managed properly.
The project closure phase typically involves analysis and evaluation, with management and all
team members sitting down to review what went well and what needs to be improved. The Project
Closure phase is the final phase of the project life cycle, marking the official completion of the project.
Although it is the final phase, it is extremely important, ensuring that the project has achieved its
objectives and setting the stage for future projects (Tran, 2021). During the project closure phase, a list
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of important tasks needs to be followed to ensure the project is completed successfully. The first is the
handover of all project products, while ensuring that all aspects have been completed as required. The
manager also needs to conduct team and individual performance reviews, send detailed reports to all
stakeholders, and conduct analysis and evaluation of the project results. In particular, the “evaluation”
aspect plays a key role, as it focuses on post-project analysis. Completing all relevant tasks ensures that
no work items are left undone, allowing the project to be completed comprehensively and officially
closed. Acceptance and handover mark the important moment when the project results are delivered to
the client or stakeholder, ensuring satisfaction and confirming the completion of the project. Completing
project documentation is an important step in archiving and maintaining project records for future
reference, ensuring transparency and completeness. Project reviews help analyze, draw lessons learned,
and improve performance for future projects, optimizing management processes. Dissolving the project
team not only closes the roles of members but also frees up resources to be used in other projects or
tasks. Closing accounts and financial closure ensures that all costs and finances are properly handled,
preventing financial risks after the project ends. In short, closing the project is an essential stage in PLC,
helping to systematically end the project and ensure all results are completed formally and
comprehensively.
The closure phase ensures that all project activities are formally completed and documented. This
provides a clear end point for the project, which is essential for accountability and record keeping. This
phase also provides an opportunity to reflect on the successes and challenges of the project, allowing
teams to record lessons learned. These insights can be invaluable for improving future projects.
Additionally, successfully completing a project or phase is a great motivator for employees. It creates
pride and confidence in their work, and encourages them to continue contributing and developing in
future projects (Lark, 2024). With the right monitoring system, progress can be tracked against project
milestones, allowing project managers to identify and resolve issues in real-time.
The closure phase can be time-consuming, especially if there are many deliverables to complete
or if stakeholder approvals are delayed. This can frustrate team members who are eager to move on to
new projects. There can be a tendency to focus only on immediate closure tasks without considering the
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long-term impacts or follow-up actions that need to be taken after the project is completed, such as
ongoing support for the products or services delivered.
In my opinion, the Starting the project stage plays the most important role because it is the
foundation that determines the success or failure of the entire project. In this stage, clearly defining the
goals and scope not only helps to orient the project but also ensures that all team members focus on
specific results that are in line with the organization's strategy and goals. This is also the time to identify
and engage stakeholders, which is essential to build consensus and long-term commitment, creating a
solid foundation for project implementation. In addition, activities such as feasibility studies and risk
assessments in this stage help to identify potential challenges early and take appropriate preventive
measures. This not only reduces the risk of failure but also helps the project optimize resources and time
in the following stages. If this stage is not done carefully, all subsequent plans and efforts can be severely
affected, leading to wasted resources or even complete project failure. Therefore, starting the project in
a methodical and rigorous manner is a prerequisite to ensure success.
II. Examine and evaluate the factors to be considered when compiling a project management plan
(PMP).
2.1. Objective
A project objective is a clear, comprehensive and verifiable description of the target state to be
achieved by the project. The project objective usually combines several sub-objectives of different types.
All these objectives are clearly defined and elaborated at the beginning of the project and are an integral
part of the project plan to guide direction and progress (Sulkowski, 2024). Clear goals are the foundation
for a successful project. Without goals, projects can easily get sidetracked and fail. Objective provides
criteria to evaluate project effectiveness, thereby drawing lessons for future projects. Objectives make it
easier for project managers to track progress, evaluate performance, and adjust activities when
necessary. It also plays a role in communicating information clearly to stakeholders, ensuring that all
participants understand the common goals and how to achieve them. Project objectives are usually set
based on the needs and requirements of the customer or organization, and act as a guideline to ensure
that all activities and efforts are directed towards the final outcome that the project sets out (misa,
2024). Reviewing and defining objectives helps project planners gain direction and prioritize resource
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use, identify milestones, and track progress. Without clear objectives, projects can go off track, wasting
time and resources without achieving the desired results. In addition, objectives help evaluate the
effectiveness of the project after completion, thereby drawing lessons for future projects.
2.3. Budget
A budget is a financial plan designed to predict, calculate, and control the expenses and income
that an individual or organization will achieve over a specific period of time. In a business, a basic budget
plan will include financial goals and projections of revenue, expenses, and profits. Budget plans can be
prepared for short-term (from a few months to 1 year) or long-term (from 3 to 10 years) (Chi, 2024).
Budget is the compass for the financial activities of the project. It helps ensure that the project does not
exceed the approved budget. A well-managed budget will help the project avoid overspending, leading
to serious consequences such as financial shortages, disruptions or even complete failure. Budget also
plays a role in the reasonable allocation of resources, helping managers prioritize important items and
optimize the use of finances throughout the project implementation. Project budgets allow management
to control and monitor the use of project finances. By identifying revenues and expenditures and
financial targets, project budgets help ensure that financial resources are used efficiently and do not
exceed available resources. Project budgets provide a forecast of expected revenues and expenditures
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during the project. This helps businesses and project managers have a clear view of finances and can
plan for the mobilization and use of financial resources appropriately. Project budgets specify financial
targets to be achieved during the project. Budgeting in project planning is important for businesses
because it helps with financial planning, risk management, financial performance evaluation, and
business process improvement. It ensures alignment between project plans and financial elements, while
increasing transparency and accountability in the use of finance (Lark, 2024) . Additionally, budgeting
also influences decisions on time, quality, and project scope, ensuring that all of these elements are
balanced for the project to be successful without exceeding the financial commitment.
III. Examine and evaluate a range of research methods and strategies and their importance to project
management.
information as required by the researcher. Primary data collection is the process of collecting data
directly from the original source, that is, from people or objects related to the research, without being
processed or analyzed . Thus, primary data collection is the process of collecting information directly
from original sources such as people or subjects related to the research, through methods such as
surveys, interviews or experiments. This process is intended to serve a specific research purpose, helping
to provide detailed and accurate information according to the needs of the researcher. This data has not
been processed or analyzed, and sometimes requires a combination of collection methods to achieve the
desired results….
Primary data collection is practical and reliable because it is collected directly from the
respondents.Primary data is collected directly from the respondents, making it more accurate and
reliable than secondary data (Maas, 2020) Researchers can ensure the validity and relevance of data to
their specific research objectives. This flexibility allows for the use of a variety of techniques such as
surveys, interviews and experiments. The data collected is tailored to address the current research
question, ensuring that the information is relevant and applicable to the study. This reflects recent
trends or changes in behaviour, which is especially valuable in rapidly evolving fields.
Primary data collection can be expensive due to the costs involved in designing the study,
recruiting participants, and conducting surveys or interviews. This can be a significant barrier for
researchers with limited budgets. In addition, the data collection process can be time-consuming and
time-consuming to plan, conduct, and analyze. This can slow down the progress of a project. Recruiting
participants can be a challenge; some may be unwilling or unable to provide information due to privacy
concerns or lack of interest. This can result in incomplete data sets. Limited in scope due to resource
constraints, primary data collection may be limited to smaller sample sizes, which may reduce
generalizability or make it difficult to draw general conclusions.
Primary data collection methods are often used in studies that require specific, direct, and topical
information to address a specific research problem. In marketing research, customer surveys are a
common way to gather architectural opinions, needs, and consumer behavior, helping businesses make
more accurate strategic decisions. For sociological or psychological studies, in-depth interviews or
experiments are often used to explore the motivations, opinions, or attitudes of a specific group of
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subjects. Additionally, in scientific fields, experiments are designed to collect primary data to test
hypotheses or discover new phenomena. This method is especially useful when secondary data is not
available or is not detailed enough to meet the requirements of the research. Although it requires more
time and resources, collecting primary data allows researchers greater control over the quality and
accuracy of the information, ensuring that the research results are relevant and reliable.
Compared to primary data, secondary data provides a time-efficient and easy-to-obtain source of
information for your project by saving the time and expense required to conduct your own research.
Data collection is often faster than primary data allowing more time for analysis. By using existing
databases, you can access data that you would not otherwise be able to collect. These databases are
particularly useful if your project question requires you to compare multiple locations or organizations.
Secondary data from trusted sources is sometimes more reliable than data you collect yourself, as large
organizations like the World Bank have more financial and human resources to conduct large-scale data
collection, such as longitudinal analysis, which is useful for comparing over time. Finally, one of the main
advantages of using secondary data is how it can impact and reshape the business problem you are
investigating, as well as point you toward any primary research you may need to conduct for your
change management project (Learn, 2024).
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Secondary research rarely provides all the answers you need. The objectives and methods used
to collect secondary data may not be appropriate for the problem being investigated. Since it is designed
to find answers to a problem other than yours, you will likely find gaps in the answers to your problem.
Furthermore, the data collection methods used may not provide the type of data needed to support the
business decisions you must make (insights, 2024). The accuracy and reliability of secondary data can
vary considerably depending on the source and the method used to collect it. Researchers must critically
assess the reliability of sources to avoid introducing bias or bias.A well-structured, well-organized
secondary data set may appear to be in good condition. However, it is not always possible to know what
problems may have occurred during the data collection process that will affect its quality. For example, a
poor response rate will provide limited insight. Although issues related to data collection are sometimes
provided with the data set (for example, for government data), this is not always the case. Therefore,
secondary data should be treated with a reasonable degree of caution (Hillier, 2022). Additionally,
secondary data may also be outdated, especially if the data has not been updated or if the research
context has changed significantly since the original data was collected. This can lead to conclusions that
do not reflect current reality. While secondary data can provide broad insights, it often lacks the depth
that comes from primary research methods such as interviews or surveys, which allow for a more
nuanced understanding of specific issues.
Secondary data collection methods are often used in research when information needs to be
compiled from multiple sources or when primary data is difficult to collect due to time and resource
constraints. For example, in marketing research, secondary data from industry reports, government
statistics, or large organization databases provide an overview of consumer trends and behavior. For
historical research or long-term trend analysis, secondary data, such as previous studies or analyst
reports, allow for comparison and evaluation of changes over time. This method is especially useful
when research requires comparisons across different regions, countries, or sectors where collecting data
yourself is not feasible. However, to ensure accuracy and relevance, researchers need to carefully
evaluate the reliability of data sources and test their validity with the current research question. This
method, while not providing the same level of detail as primary data, is still a powerful tool for building a
foundation and guiding future research.
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Qualitative research can capture attitudinal changes within a target group such as consumers of a
product or service, or attitudes in the workplace. Qualitative research offers a much more flexible
approach. If useful insights are not captured, researchers can quickly adjust the question, change the
context, or any other variable to improve the response. Qualitative data collection allows researchers to
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be more speculative about what areas they choose to investigate and how to do so. It allows data
collection to be driven by the researcher’s instincts or ‘gut feelings’ about where good information can
be found. Qualitative research can be more targeted (Vaughan, 2021) . Qualitative methods are
particularly useful for exploring new or under-researched areas where existing theories may not apply.
They can help identify emerging trends and generate hypotheses for further research. By focusing on the
perspectives of participants, qualitative analysis captures the subjective nature of human experience,
which can be important for understanding behaviors and attitudes in a social context. They are less time-
consuming and less expensive to conduct.
The interpretation of qualitative data can be highly subjective, leading to potential biases in
analysis and conclusions. Different researchers may come up with different interpretations from the
same data set. Qualitative methods are interpretive and can be affected by researcher bias, which can
affect the consistency and objectivity of the findings(Christiansen, 2021). Findings from qualitative
studies often involve small sample sizes, which limits their ability to be generalized to larger populations.
This makes it difficult to apply the results broadly. Collecting and analyzing qualitative data can be
laborious and time-consuming, as it often involves transcribing interviews, coding responses, and
identifying themes (Yen, 2024). The lack of standardized methods for analyzing qualitative data can lead
to inconsistencies in how different researchers approach the analysis process. This variability can affect
the reliability of the findings. Due to their subjective nature and reliance on specific contexts, replication
of qualitative studies can be challenging. This limits the ability to verify results across different studies or
contexts.
The qualitative research method is widely used in studies that aim to explore deeper insights,
understand behaviors, or uncover underlying motivations and perceptions. It is particularly valuable in
fields like social sciences, marketing, and education, where understanding the "why" behind actions or
decisions is essential. For example, researchers might conduct interviews or focus groups to gather
detailed personal experiences or opinions about a product, service, or social issue. This method is also
useful in exploratory research, helping to generate hypotheses or identify key themes that can later be
tested with quantitative methods. By focusing on open-ended questions and detailed narratives,
qualitative research provides a nuanced understanding of complex issues that numbers alone cannot
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capture. However, because of its subjective nature, this method requires careful interpretation and
rigorous documentation to ensure the validity and reliability of the findings. Overall, qualitative research
is a powerful tool for gaining in-depth, context-rich insights that can inform decision-making or further
investigations.
Because quantitative analysis relies on numerical data, it reduces bias and allows for more
objective conclusions. Additionally, by relying on statistics, this method ensures that the results are
consistent and can be reproduced by others, making the findings more reliable. Quantitative data is easy
to compare because you can identify trends, patterns, correlations, and differences within the same
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group and KPI over time. But you can also compare numbers at different scales by normalizing the data,
for example, putting ratios and percentages on the same scale for comparison. Quantitative analysis can
handle large volumes of data efficiently, making it suitable for studies involving large populations or data
sets. This makes this method of data analysis scalable. Additionally, researchers can use quantitative
analysis to generalize their findings to larger populations (User, 2024). With larger sample sizes,
quantitative studies can produce results that can be generalized to a wider population. This allows
researchers to draw conclusions that apply beyond the specific sample studied. Quantitative methods
use statistical techniques to analyze data, allowing researchers to test hypotheses and establish
relationships between variables. This rigorous approach helps validate theories and make informed
predictions. Data collection and analysis can be done quickly using structured tools such as surveys and
questionnaires. This efficiency is especially beneficial in time-sensitive research contexts. Additionally,
this method produces clear results that make it easy for stakeholders to understand key findings.
Quantitative research is an extremely precise tool in that it only collects cold, hard numbers. This
double-edged sword makes quantitative methods ineffective in answering questions that require specific
responses and often lacks the human element. Creating a quantitative research model requires careful
attention to your design. From the hypothesis to the experimental methods and subsequent analysis,
there are a number of moving parts that must fall into place for your experiment to be successful. Even
one inadvertent error can invalidate your results and send your team back to the drawing board to start
over (R, 2024). The structured nature of quantitative research can limit flexibility in exploring unexpected
findings or new research directions that may arise during data collection. While quantitative methods
aim for objectivity, the design of surveys and the selection of variables can introduce biases that affect
the results. Researchers must carefully consider how questions are asked and what data are included.
While quantitative analysis can be effective, designing robust studies with appropriate sample sizes often
requires significant resources and funding, which are not always available.
The quantitative research method is commonly used in studies that require numerical data to
analyze patterns, relationships, or trends systematically. This method is ideal for testing hypotheses,
measuring variables, or making predictions, especially in fields like economics, healthcare, education,
and marketing. For example, surveys with structured questionnaires can be used to collect data from a
23
large sample, enabling researchers to generalize findings to a broader population. Quantitative methods
are also employed in experiments to test cause-and-effect relationships or in statistical analyses to
identify correlations and trends. The use of measurable and standardized data makes this approach
particularly reliable for drawing objective conclusions. Furthermore, the results from quantitative
research often provide the foundation for evidence-based decisions or policies. However, while it excels
in providing breadth and statistical validity, quantitative research may lack the depth of understanding
that qualitative methods offer. Despite this, its ability to provide precise, scalable, and replicable results
makes it indispensable for many types of research.
Combining two types of data means you benefit from both the detailed, contextual insights of
qualitative data and the general, externally valid insights of quantitative data. The strengths of one type
of data often mitigate the weaknesses of the other. By using both qualitative and quantitative data,
researchers can validate their findings through triangulation. This process increases the credibility and
reliability of the results, as different data sources can confirm each other. Mixed methods are less tied to
established disciplines and research paradigms. They offer more flexibility in the design of your research,
allowing you to combine aspects of different types of research to distill the most informative results.
Mixed methods research can also combine theory generation and hypothesis testing in a single study,
24
which is unusual for quantitative or qualitative studies alone (George, 2021). Qualitative and quantitative
research methods have different strengths, weaknesses, and requirements that affect the accuracy of a
researcher's research project. The purpose of a mixed methods design is to summarize the positive
aspects of both methods and produce highly accurate data. A mixed method of collection and evaluation
can increase the validity and accuracy of information (Anh, 2010). By combining methods, mixed
methods can compensate for the limitations inherent in each approach. For example, while quantitative
methods may lack depth, qualitative methods can provide context and meaning to numerical data,
enhancing the overall analysis.
Mixed methods research can be more complex than using a single method. Researchers must
carefully plan how to integrate both qualitative and quantitative components, which can be difficult and
time-consuming. Mixed methods research typically requires more resources (time, funding, personnel)
than studies using only one method. This increased demand can be a barrier for some researchers or
organizations. When integrating qualitative and quantitative data, researchers may encounter conflicting
results that can complicate interpretation. Resolving these differences requires careful analysis and can
lead to confusion if not handled properly. Combining qualitative and quantitative data into a coherent
analysis can be difficult. Researchers need to develop strategies for effectively combining different types
of data while maintaining the integrity of each approach.
Mixed research method combines both qualitative and quantitative approaches, making it a
versatile and comprehensive strategy for addressing complex research questions. This method is
particularly useful in studies that require both numerical data to measure trends and in-depth insights to
understand the reasons behind those trends. For instance, a researcher might use surveys to collect
quantitative data about customer satisfaction and follow up with interviews to explore the specific
factors influencing their opinions. By integrating these two approaches, mixed methods provide a more
holistic view of the research problem, capturing both the breadth and depth of the issue. This approach
is especially valuable in interdisciplinary studies, healthcare research, or program evaluations where
understanding context and outcomes are equally important. However, mixed methods require careful
planning and resource allocation, as they involve the design and execution of both qualitative and
25
quantitative components. Despite this complexity, the ability to triangulate findings and validate results
from multiple perspectives makes mixed research a powerful tool for comprehensive analysis.
The data collection and analysis methods used in this project have been key factors in its overall
success. By employing a combination of qualitative and quantitative techniques, the team was able to
gather meaningful insights from a variety of sources. This allowed them to assess the performance of
different AI chatbot models accurately and identify their strengths and weaknesses. The process of
continuous data monitoring and feedback collection enabled quick adjustments and improvements,
ensuring the system became more efficient over time. Furthermore, analyzing user interactions and
satisfaction helped tailor the chatbots to better meet customer needs, leading to higher engagement and
better service. In essence, these methods provided a clear, evidence-based approach to decision-making,
making the project more adaptable and impactful. The ability to track performance in real-time also
helped in addressing issues promptly, which was crucial in maintaining a high level of service quality.
Moreover, the project team was able to continuously refine the chatbot's capabilities, making it more
responsive and user-friendly. The data-driven approach also allowed for better resource allocation,
ensuring that improvements were made in the areas that had the most impact on the overall experience.
These ongoing improvements ultimately helped the chatbot evolve and stay relevant to changing user
expectations. Without a doubt, the careful and thoughtful application of these data-driven strategies was
instrumental in achieving the project's success.
2.4. Produce a detailed PMP that covers aims, objectives, deliverables, quality, risk, communication,
resources and research methods.
Appendix 1 : Project Definition Form
Project Objectives: The goal of this project is to evaluate the strengths and weaknesses of
various AI chatbot types in the context of Techcombank . Based on this
analysis, I will recommend solutions to implement the most suitable AI
chatbots to enhance Techcombank’s operational efficiency.
Project Deliverables: Research and analyze in detail the strengths that the application chatbot
brings such as the ability to respond quickly, automate processes and
optimize human resource costs, including limitations in handling complex
situations or questions outside the programmed scenario... At the same
time, propose AI chatbot deployment options and necessary factors for more
effective and convenient deployment, then evaluate the difficulties in the AI
chatbot application process and find solutions to solve those difficulties.
Then provide a detailed report on the strengths and weaknesses of AI
Chatbot.
27
https://meet.google.com/ntv-ewci-zuj
Research method Mix research methods
programming
engineers.
Insufficient Low Medium 2 Conduct a thorough
understanding needs analysis to
of identify customer
Techcombank’ service requirements
s specific needs and hidden areas for
improvement. The risk
management
responsibility will
ensure continuous
monitoring, refinement
and engagement with
the customer. This is
done by the Project
manager.
assessment
Obtain project x
approval from
Techcombank ,
Warburg Pincus
Develop project plan :
timeline , resources ,
x
budget allocation
Conduct needs x
analysis to gather AI
chatbot requirements
Define success criteria x
and metrics
Plan communication x
(set up channels and
schedule updates)
Research AI chatbot x
solutions (capabilities,
limitations, costs)
Perform competitor x
analysis on AI chatbot
usage in banking
Evaluate compatibility x
with Techcombank
systems
Develop AI Chatbot x
Recommendation
Report
Prepare x
implementation
31
proposal (timeline,
cost, resources)
Review and revise x
recommendations
based on feedback
Address feedback and x
obtain final approval
Conduct post-project x
evaluation (review
outcomes vs. success
criteria)
Document project x
closure report
(achievements,
challenges, outcomes)
Pincus Manager
final approval
Conduct post-project Employee F X
evaluation (review outcomes
vs. success criteria)
Document project closure Employee F X
report (achievements,
challenges, outcomes)
The goal of proposed deploying AI chatbot at Techcombank is to improve operational efficiency and
customer experience. AI cha tbot helps automate the response process, reduce customer waiting time,
and reduce personnel costs by optimizing resources. Improving customer service not only increases
satisfaction but also contributes to retaining existing customers and attracting new customers.
Furthermore, this project is a strategic step in Techcombank's digital transformation roadmap, affirming
its commitment to innovation and pioneering the application of modern technology. Achieving this goal
not only helps improve operational capacity but also positions Techcombank as a leading bank in
applying technology, creating a sustainable competitive advantage.
As a CEO, it is necessary to ensure that the project is implemented closely and effectively through
the implementation of many specific measures. First of all, I will focus on building a detailed plan
including goals, budget, time, and clear assignment of responsibilities to each member of the project. I
will work closely with the project manager and related teams to regularly update progress and handle
arising issues in a timely manner. At the same time, I will prioritize recruiting and training personnel with
enough skills to operate the AI chatbot system effectively. In addition, I will cooperate with technology
partners to ensure that AI chatbot solutions are integrated in accordance with the specific needs of the
bank. An indispensable factor is to maintain continuous communication with stakeholders to ensure
consensus and support throughout the project implementation process.
For the project, analyzing the risks in the project, there are several major risks with different
levels and frequencies. The biggest risk is budget shortfall with high level and frequent possibility, which
requires the accounting and project management team to proactively call for additional investment and
strictly control costs. Next, data security breach is also assessed as a high risk with medium possibility,
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requiring the staff to implement strict security policies and periodic inspections. The problem of
technical failure has high impact level and medium frequency, requiring a contingency plan and a team
of technical experts ready to fix it. Finally, lack of understanding of specific customer needs has medium
level and low frequency, but still needs to conduct detailed customer needs analysis to ensure that the
AI chatbot meets the actual requirements.
Meetings will include project managers, employees, representatives from related work, and
sponsors such as Techcombank and Warburg Pincus. Reports will include work progress, achievement of
goals, budget status compared to plan, risks that have occurred or are likely to occur, and solutions. At
the same time, technical issues that arise and the results of the analysis of the AI chatbot's performance
will also be presented. The expected result after each meeting is that all stakeholders grasp the actual
situation of the project, make unified decisions to solve problems, and adjust the plan in a timely
manner. Maintaining transparency and close coordination between parties will ensure that the project
achieves its goals on schedule and with the required quality.
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The application of AI is an inevitable trend in the banking industry, especially in the context of
increasingly fierce competition. Techcombank understands that, to maintain its leading position and
meet the increasing needs of customers. To improve customer experience, while optimizing and
minimizing risks. The automatic prediction models of AI chatbot will help Techcombank make more
accurate and convenient decisions. The proposal of AI chatbot helps Techcombank understand customer
behavior and needs, thereby providing more suitable products and services (Thu, 2024). In addition, the
integration of AI chatbots allows for faster response times and personalized support, ensuring a seamless
customer journey. This not only enhances customer satisfaction but also strengthens customer loyalty,
paving the way for sustainable growth.
AI chatbot is applied to many different processes at Techcombank. For customer care, AI chatbot
is put into automated systems to support customers. AI Chatbot also builds predictive models to analyze
customer behavior and assess common credit risks. Automating simple interface processing processes
and detecting signal risks and operational risks is also set up by AI chatboot if Techcombank uses it. In
addition, this application also helps us analyze what users need and want (Mercier, 2024). According to
Techcombank, the integration of AI chatbots enables faster responses and personalized support,
ensuring that customer journeys are followed. This not only improves customer satisfaction but also
strengthens customer loyalty efforts, paving the way for sustainable growth. By leveraging AI and data
analytics, Techcombank hopes to better understand customer needs and requirements, thereby
improving service delivery and operational efficiency.
operations but also allows banks like Techcombank to focus on more complex issues, thereby improving
decision-making processes as part of their digital transformation strategy. (Huong & Binh, 2022)
In addition, I decided to choose the descriptive statistics method to perform data analysis in this
project. I chose this method because it helps me summarize and present the data in an easy-to-
understand way. The simplest reason for choosing this data analysis method is because it helps
summarize and describe the main features of the data in a clear and easy-to-understand way.
Descriptive statistics allow me to determine parameters such as mean, deviation, and other index
distributions. This method not only supports in-depth analysis but also provides informational value for
strategic decisions, helping Techcombank improve its workflow and enhance employee experience when
applying new technology.
Based on Figure 1, the distribution of opinions among participants regarding the age of
employees using AI at work reveals some interesting patterns. The 18-22 age group has the highest
proportion, making up 40% of the responses. This reflects a strong inclination among younger
employees, particularly fresh graduates or those just entering the labor market, to embrace modern
technologies like AI. Their education in contemporary, technology-oriented environments has equipped
them with the skills to quickly adopt digital tools, and their willingness to experiment with new
technologies further underscores this trend. Additionally, their adaptability, creativity, and openness to
change make them ideal candidates for leveraging AI to improve work efficiency and productivity, which
helps explain the significant representation of this group in the survey.
In contrast, the over-40 age group holds the smallest share, accounting for only 8%, which
highlights their limited engagement with AI. This could stem from various factors, such as a generational
divide in technology adoption, apprehension toward change, or a preference for traditional methods of
working. These barriers may hinder their ability to explore and apply AI effectively in their roles.
Meanwhile, the 23-30 age group and the 31-40 age group exhibit relatively balanced levels of AI
adoption, making up 26.7% and 25.3%, respectively. The 23-30 group continues to build on their
foundational technological skills gained during their earlier years, while the 31-40 group, who often
occupy leadership or specialized positions, uses AI as a strategic tool to enhance decision-making and
39
streamline operations. This distribution suggests that AI usage across age groups is influenced not only
by technological proficiency but also by the nature of job roles and attitudes toward innovation.
The Figure 2 above illustrates the distribution of employees across different departments using
AI, highlighting variations in adoption rates. The Finance department leads with 28% of total responses,
reflecting its prominent role as the area with the highest AI adoption rate in the organization. This can be
attributed to the department’s emphasis on AI to handle large volumes of data, conduct financial
forecasting, perform market analysis, and automate complex tasks. These not only enhance efficiency
but also enable faster and more accurate decision-making, ensuring the department applications remain
competitive and effective. Such extensive use of AI in Finance demonstrates its importance in
streamlining operations and supporting critical business functions.
The Human Resources (HR) department, which accounts for 21.3%, ranks second, signifies the
growing role of AI in HR management. Applications like automating recruitment processes, evaluating
employee performance, and enhancing workplace experiences illustrate how AI is reshaping traditional
HR practices. Meanwhile, the Accounting department at 18.7% showcases the role of AI in automating
routine tasks such as transaction processing, auditing, and regulatory compliance. The Research and
40
Development (R&D) department, with 20%, also benefits significantly from AI, leveraging it for
innovation and product development. Finally, the "Other" category represents 12%, indicating that AI is
being utilized in less traditional or emerging areas, showcasing its adaptability across various
organizational functions.
Based on the pie figure 3 of the survey, we can see the distribution of opinions of the participants
on the level of support of AI in reducing working time. The survey results show that the group with the
highest proportion is those who perceive AI as helping to reduce working hours at the "Approximately"
level (41.3%). This means that they perceive AI to support their work but only at a relative level, not
really clear or prominent. This is a sign that AI has started to bring certain benefits in optimizing working
time, but not strong enough to create a comprehensive change. It is possible that this group includes
people who are using AI in simple support steps such as automating small tasks or basic data analysis. AI
in this case seems to only work as a supplementary tool instead of completely replacing or thoroughly
optimizing their work process. This may also indicate that AI still needs more time or breakthrough
improvements to bring a more significant impact on daily work productivity.
In second place, 28% of respondents said that AI has reduced working hours at a “Many” level,
meaning that they feel that the impact of AI is quite clear and positive. This is a remarkable proportion,
41
reflecting that nearly a third of respondents have experienced real efficiency from AI, perhaps in
specialized tasks such as process automation, big data management, or complex task processing. At the
same time, the “A lot” group (20%) also shows a small but significant proportion that has seen AI
significantly reduce their working hours. This can happen in areas or industries where AI has already
played its role to the fullest, such as programming, automated customer service, or supply chain
optimization. In contrast, only 10.7% of respondents said that AI has made no change in working hours.
This is the smallest percentage, and may come from the fact that this group does not use AI regularly or
their work is less related to AI applications. From this, we can see that, although there are differences in
the level of impact, the majority of survey participants are aware of the benefits of AI in supporting the
reduction of working time, to varying degrees.
Figure 4 :Survey results pitfalls of using AI in your company reduces employee engagement
Based on the figure 4 survey graph, respondents’ opinions are divided into three main groups
regarding how AI affects employee engagement in the company.The pie chart illustrates the survey
results whether AI reduces employee engagement in the company. Analysis of the data shows that the
largest group (37.3%) perceives that AI reduces engagement only to a “Little” extent. This could mean
that some employees feel that AI has some impact, but it is insignificant or does not seriously affect the
connection between employees and the company. This could be a result of AI being integrated into work
42
processes in a complementary way, not reducing human roles or engagement in the job. Additionally,
this group may include people in fields where AI mainly supports technical tasks or partially automates,
rather than completely replacing humans. This suggests that the presence of AI, when applied
appropriately, does not necessarily have a negative impact on internal engagement.
Meanwhile, a close second group of 32% includes those who believe that the use of AI has not
made any changes to employee engagement. This could reflect two scenarios: either AI has not been
applied to a deep enough level to affect working relationships, or the company has been successful in
maintaining the balance between technology and human interaction. This proportion could also include
those who feel that the changes brought by AI do not directly impact them, or the tasks involved remain
as interactive as before. In contrast, 30.7% of respondents said that AI reduces employee engagement by
a “Many,” indicating that a third of employees feel a clear decrease in their connection or role when AI is
involved in their work. This is not a small number, reflecting that some organizations may not be
handling the combination of humans and technology well, leading to a sense of being replaced or
devalued at work. People in this group may come from roles where AI is being heavily applied, leading to
reduced opportunities for employee engagement or contribution.
Based on Figure 5, 31.9% of respondents said AI helped only “rarely” them significantly in
creative tasks, making this the largest group in the survey. This result indicates that many individuals
have effectively used AI tools to enhance their creative output, such as generating innovative ideas,
speeding up workflows, and improving content quality. In contrast, 23.6% of respondents said AI helped
only “little,” implying that its impact in these cases was not transformative but merely supplementary.
This may be due to the current limitations of AI, as it often assists users at a basic level, such as making
suggestions or partially automating repetitive tasks, rather than providing breakthrough creative
solutions. The data highlights mixed perceptions of AI’s role in creativity, with a significant proportion
benefiting from it, while others see it as having less of an impact.
This may be related to their level of familiarity or skill in using AI, or perhaps AI is not yet
developed enough to meet their higher creative needs, 27.8% of respondents said AI helped their
creativity “many,” reflecting a group that has effectively leveraged AI to expand their creative potential.
These users can benefit from advanced AI applications in areas such as design, media content creation,
or idea development, demonstrating how AI can transform workflows when used effectively. However,
16.7% of respondents stated that AI did not help them at all with creative tasks. While this is the smallest
group, it still highlights that some users struggle to integrate AI into their work or do not see its
relevance to their specific needs. This could be due to a lack of familiarity, inadequate training, or the
technology’s inability to meet higher creative expectations. The fact that respondents found AI at least
somewhat useful suggests its growing potential in creative fields.
Based on the figure 6 , the survey results show that 39.2% of respondents believe that
information from AI is often wrong, accounting for the largest proportion of all groups. This indicates
that many people are still concerned about the accuracy of AI in providing information. When one-third
of respondents believe that AI is often wrong, this reflects a real problem, especially in fields that require
high accuracy such as finance, medicine, or law. In addition, 31.1% of respondents believe that AI is only
occasionally wrong, a significant proportion, indicating that some users find that AI can be inaccurate but
can still be used effectively in many different situations.
However, a small number of people believe that AI is rarely or never wrong. Specifically, 13.5% of
participants said that AI is rarely wrong, which reflects that despite some errors, most users still find that
AI can work well in certain situations. This number is not too large, but shows that with simple or well-
optimized applications, AI can still provide high accuracy. Finally, 16.2% of participants affirmed that AI is
not wrong, this is the smallest percentage but still shows that in some situations, AI can work almost
perfectly. However, with participants saying that AI still has errors, this emphasizes that testing and
monitoring the quality of information from AI is extremely important to minimize possible mistakes.
Figure 7 :Survey results on problems with AI processing work quickly but inaccurately
45
Based on the pie chart in Figure 7, the survey with 75 participants shows the distribution of
opinions on the issue of AI processing work quickly but inaccurately. It can be seen that the majority of
survey participants have difficulty with this issue. Specifically, the group that answered "Many"
accounted for the largest proportion, up to 33.3%, equivalent to about 25 people. Next is the group that
answered "A lot", accounting for 28%, equivalent to about 21 people. These two groups account for
more than half of the opinions, reflecting the high level of concern of participants about the accuracy of
AI in processing work.
In addition, the remaining groups showed less serious levels. The group that answered "Little"
accounted for 22.7%, equivalent to about 17 participants. This shows that some people have problems
but at a milder level. Notably, the group that responded “No change” accounted for only 16%, or about
12 people, indicating that only a small portion felt that AI would not affect them or had no problems with
the speed and accuracy of the technology. This distribution helps us better understand that, despite
positive or neutral opinions, the majority of participants still expressed concerns about AI’s ability to
maintain accuracy while processing work quickly.
From the figure 8 , it can be seen that AI can become a "trap" in the working environment if not
carefully managed. The data shows that the proportion of people who feel the level of dependence on AI
is "Many" (a lot) accounts for 31.1%, equivalent to about 23 out of 74 participants. Along with that, the
"A lot" group accounts for 27% (about 20 people), bringing the total proportion of people who rely
heavily on AI to 58.1%. This shows that more than half of the surveyed people admit that they are
increasingly dependent on AI to complete their work. This poses a potential risk that over-reliance on AI
can cause employees to lose important skills such as creative thinking and problem solving. These
numbers clearly reflect that dependence on technology is not just a trend but has become a worrying
reality.
Additionally, the effectiveness of AI depends largely on how it is used. The chart shows that the
“Little” group accounts for 21.6%, or about 16 people, while the “No change” group accounts for 20.3%,
or about 15 people. These two groups together account for 41.9%, reflecting that there is still a
significant portion that does not rely heavily on AI or does not see a major change in the way they use
this tool. However, without controls or misuse of AI, even those who use it less can face risks, such as
errors in work or a decline in the quality of work. These numbers highlight the need to establish clear
policies, not only to optimize efficiency but also to ensure that AI plays a supporting role rather than
completely replacing human creativity and thinking.
47
Figure 9 :Survey Results on human resource pitfalls are you worried about AI replacing your job
The figure 9 reflects the survey results, aimed at assessing the level of anxiety about the
possibility of AI replacing jobs. The chart divides respondents into three groups, with clear proportions.
The first group, representing 33.3% (25 people), expressed many ” about the prospect of AI replacing
their jobs. This figure shows that more than a third of respondents feel that the risk from the
development of AI is direct and serious. These are likely to be people working in occupations vulnerable
to automation, where jobs could be replaced by machines or intelligent AI solutions. This anxiety reflects
a strong concern about the future of work in an increasingly technology-dependent world.
In contrast, the largest group, 48% (36 people), said they were only “a little bit” about the impact
of AI on their jobs. This suggests that nearly half of respondents are aware of the possibility that AI could
impact their industry, but are only moderately concerned. They may believe that change will be slow or
that their jobs will remain stable for the foreseeable future. Finally, the smallest group, 18.7% (14
respondents), are not at all concerned that AI will change their jobs. This group is the most confident,
possibly because they work in sectors that are less vulnerable to automation or have specialized skills
that are difficult to replace. The clear differences between the three groups demonstrate a wide range of
perceptions about the impact of AI on jobs, reflecting both expectations and concerns as technology
advances.
48
Based on the figure 10, the survey results show that the majority of participants found that AI
had a positive impact on their work speed. Specifically, 42.7% of participants chose "A little bit",
indicating that AI has contributed to improving work performance, although the level of influence is not
too obvious. This number indicates that AI can help save time and reduce workload, but is not strong
enough to make a big change. In addition, 37.3% of participants chose "Many", reflecting that a fairly
large proportion felt that AI plays an important role in optimizing work time and productivity. This is a
signal that AI not only supports small tasks but can also help handle complex tasks, helping to save time
and significantly improve work efficiency. However, 20% of respondents said that there was no change,
which could be because their job was not suitable or they had not applied AI effectively.
These figures highlight the clear benefits that AI brings to the workplace, especially in saving time
and automating complex processes. AI support helps employees reduce the pressure of repetitive tasks,
thereby allowing them to focus on tasks that require more creativity and strategic thinking. However, the
20% "No change" figure still shows that not everyone sees a positive impact from AI, which could reflect
differences in how they use the technology, or that their ability to apply AI in their work has not been
optimized. However, with more than 80% of respondents seeing a positive impact, it is clear that this
technology is becoming an important tool to improve work efficiency.
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1.4. Recommendations
To leverage the strengths of AI that Techcombank identified through the survey, the company
should first focus on training and raising awareness among employees on how to use AI in their daily
work. Techcombank should focus on deploying AI in highly repetitive and fast-paced tasks, such as
answering frequently asked questions or supporting basic transactions. In this way, AI can reduce the
workload for employees, allowing them to focus on more complex tasks. Organizing in-depth discussions
and courses will help employees better understand the applications of AI, thereby optimizing workflows
and improving performance. In addition, the company should also encourage creativity and innovation
by creating a technology-friendly working environment where employees can experiment and apply AI
solutions in practice. Furthermore, the company should develop a clear roadmap to evaluate the
effectiveness of AI in its workflows, thereby adjusting and optimizing how AI is used in the future.
Continuing to update new AI technologies will help Techcombank stay competitive and not fall behind in
the banking industry.
However, to limit the pitfalls that AI can bring, this tool needs to establish policies and clearly
present the links to the use of AI. This includes reversing the transparency in the decisions made by the
AI system, while protecting the personal data of customers and employees. Techcombank should
regularly evaluate and monitor AI applications to detect potential problems early, thereby adjusting
promptly to avoid unwanted risks. Finally, building a corporate culture that focuses on ethics in
technology will help the company not only optimize the benefits of AI but also maintain the reputation
and trust of customers. At the same time, companies need to develop robust security and privacy
strategies to prevent threats from cyberattacks that can exploit vulnerabilities in AI systems. Being
transparent about how and why AI makes decisions will help increase customer trust in the company.
Techcombank should also work with AI security and ethics experts to ensure that AI tools and solutions
are deployed in accordance with ethical and legal standards. Finally, training employees on AI-related
security and ethics issues will help the company maintain a safe and responsible work environment.
from customers. This is especially important in the banking sector, where requests are often very diverse
and require high accuracy. In addition, this system can be easily integrated with existing platforms such
as CRM or Core Banking, helping to develop quickly without disrupting operations. More importantly,
Watson Assistant can support many languages, including Vietnamese, which is very suitable for
Techcombank's customer market.In terms of cost, IBM Watson Assistant provides service packages with
operational capabilities suitable for the needs of each business. Basic packages can start from around
$0.0025 to $0.03 per conversation, meaning the bank only pays for the actual number of conversations
the system handles. Additionally, the initial cost of deploying, configuring, and integrating with existing
platforms can increase from $10,000 to $30,000 or more, depending on the complexity of the project.
Although the initial cost may be high, developing Watson Assistant will save Techcombank money
in the long run. The system can automate parts of the customer care program, minimize the need for
customer support staff and help speed up request processing, thereby helping the bank reduce
operational costs. Watson Assistant also helps optimize efficiency by improving the accuracy of request
processing, while supporting the bank to maintain a continuous service and customer efficiency.With the
ability to support multiple languages, including Vietnamese, Watson Assistant will help Techcombank
serve customers better, thereby increasing customer satisfaction and loyalty. Moreover, the ability to
integrate with systems such as CRM or Core Banking helps optimize operational processes without
interrupting existing service stages, ensuring rapid forum development. Thanks to these features, IBM
Watson Assistant not only helps Techcombank improve service quality but also brings long-term
economic value, helping the bank maintain competitiveness in the market.
Not only does it answer questions, Watson Assistant is also capable of personalizing services by
analyzing customers' transaction history and consumer behavior, thereby providing appropriate
suggestions. Furthermore, with high security standards such as GDPR and ISO 27001, this system ensures
absolute safety for customer data - a key factor in the financial industry. IBM Watson Assistant is also
flexibly scalable, helping Techcombank meet future growth needs. The implementation of this solution
not only helps optimize workflows but also demonstrates Techcombank's pioneering role in digital
transformation, creating a sustainable competitive advantage in the market. In particular, the ability to
analyze and learn from customer data will help Techcombank improve existing services and develop new
51
products that more accurately meet customer needs. Through the Watson Assistant application,
Techcombank can enhance customer experience and provide satisfaction, thereby increasing loyalty and
engagement with commercial signals.
During the project implementation, my strengths are the ability to effectively manage time,
ensuring that all tasks are completed on schedule, helping the project meet the set deadline. I realize
that my strengths are the ability to work in a team and communicate effectively. In this project, I actively
coordinated with other members, shared information and made decisions together. Ability to manage
time and resources closely. I made detailed plans, assigned tasks clearly and monitored project progress
regularly. Thanks to that, the project was completed on schedule and within the approved budget. I also
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chose the data survey collection method and descriptive statistical analysis appropriate to the research
objectives, which helped me choose the AI chatbot solution that best suited the bank's needs. Applying
these methods not only helps me collect complete and accurate information but also presents data
clearly, easily understood, and is supported in the process of providing appropriate values and
recommendations. The ability to reasonably divide human resources and optimize costs in the project is
also a strength that helps me give advice to successfully implement the project and achieve the set goals.
My weakness when implementing the first project was that collecting high-quality data to train
the chatbot was a big challenge. I myself realized that I lacked practical experience with AI technology,
which led to difficulties in deploying and optimizing the chatbot. This caused us to spend more time on
learning and testing, instead of focusing on developing new features. Focusing too much on analyzing
small factors sometimes took me longer than expected and affected the progress of some items. Second,
the ability to communicate and coordinate between departments was sometimes ineffective, causing
delays in updating information and work progress. To overcome these weaknesses in the future, we
decided to organize in-depth training sessions on AI and increase regular meetings to improve
communication. In addition, building a regular feedback system from members will also make it easier
for everyone to share opinions and improve the work process. While fixing these weaknesses may take
time, we believe that these efforts will make the team stronger and the project will achieve better results
in the future.
employee participation. The team also spent time holding focus group discussions to clarify
requirements and resolve differences in views among stakeholders. At the same time, we deepened our
collaboration with technical experts to gain a deeper understanding of the limitations and potential of
the chatbot and propose more suitable solutions. This process took a lot of time, especially in the
discussion and planning stages, but through close collaboration and perseverance, we overcame the
difficulties and ensured that the project continued to progress towards its original goals.
Another challenge I faced was data security and privacy. The banking industry is inherently
subject to many strict regulations regarding customer information, so implementing a new AI solution
such as a chatbot required us to consider carefully to ensure that we did not violate these regulations. In
addition, integrating the AI system into the existing technology infrastructure was also a big challenge.
We realized that the investment budget for upgrading the old infrastructure to new technology was very
limited, which slowed down the project progress. In addition, the lack of high-quality resources in the
field of AI also added pressure to the team, as we needed to work with complex technologies that we did
not have much experience with.To overcome these difficulties, the team decided to take many
synchronous measures. We organized in-depth training sessions on AI and data security to improve the
skills of team members. At the same time, establishing a detailed plan for each stage of the project also
helped us clearly define tasks and allocate resources more reasonably. We also proactively sought
support from external experts to advise on how to optimize the implementation process and information
security. Although overcoming these challenges took a lot of time and effort, thanks to the relentless
efforts, the team gradually overcame the initial obstacles and moved closer to the ultimate goal of the
project.
Through the Adoption of AI chatbot project at Techcombank, I learned a lot of important things
about project management, especially the application of the Project Life Cycle (PLC) to ensure progress
and quality of work. From detailed planning, clearly defining goals and scope of work to organizing
surveys and analyzing data, I have a better understanding of how each stage in the project is connected
and affects each other. I conducted many surveys to collect opinions and feedback from customers, from
which I could adjust the chatbot features to best suit. In addition, data analysis also helps us better
understand customer behavior, thereby optimizing the service experience. Through this process, I
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realized that communication and coordination between different departments in the bank are extremely
important; Without synchronization, all plans can be affected. The process of conducting surveys and
analysis not only helps me improve my research skills but also trains my critical thinking in processing the
collected information. In addition, I also realize the importance of coordination between stakeholders
and effective use of management tools to optimize resources, overcome difficulties and achieve set
goals. These experiences are not only theoretical lessons but also valuable practical experiences that
help me be more prepared for future projects.
From the above, I learned the importance of continuously developing project management skills
and flexibly applying support tools. In the future, I will continue to study to improve my knowledge of
project cycle management (PLC), especially in the planning and post-implementation evaluation stages.
In addition, I will also apply data analysis methods to monitor the effectiveness of future projects. By
collecting and analyzing data from users, we can adjust product development strategies more flexibly,
ensuring that the solutions we provide are always suitable for the actual needs of customers. In addition,
I will further improve my data analysis skills and use specialized software to optimize the decision-
making process. I will focus on developing teamwork and communication skills, ensuring closer
coordination between stakeholders to achieve optimal results in all future projects.
CONCLUSION
In short, the application of AI chatbots at Techcombank represents a significant step in
modernizing operations and improving customer service. Through this project, we have successfully
identified the benefits of AI, such as increased efficiency, cost reduction, and enhanced customer
satisfaction. At the same time, the project has highlighted critical challenges, including potential errors in
AI performance, privacy concerns, and the risk of employee disengagement. By addressing these
challenges with strategic training, robust risk management, and a focus on ethical AI deployment,
Techcombank can position itself as a leader in technological innovation within the banking sector.
Ultimately, this initiative not only aligns with the bank’s digital transformation goals but also sets a
strong foundation for sustained growth and competitiveness in a rapidly evolving industry.
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