Management homework help. Assignment 3: Project Proposal – Execution, Control, and Closure
Due Week 10 and worth 150 points
Note: This is the third of three assignments which, as a whole, will cover all aspects of the project life cycle relevant to your selected project. THIS ASSIGNMENT IS BASED OFF OF THE 1ST AND 2ND ASSIGNMENT, WHICH ARE LISTED BELOW.
Now, it is time for you to discuss your project’s challenges (e.g., risks); performance management plan (e.g., earned value management); and proposed plan for closing the project when it is done.
Write a four to six page paper, in which you define the execution, control, and closure aspects of your chosen project. In your paper you must:
- Provide a brief summary of your chosen project.
- Identify and discuss your project’s greatest challenges (at least three) and provide a recommendation for addressing each of the challenges.
- Examine how you manage your project performance via earned value management. Identify at least three key EVM metrics you will use for your project.
- Discuss your plan to properly close your project when it is over.
- Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
- Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
Assignment 1: Project Proposal: Initiating & Planning
Summary of the Project
This is about a startup eatery whose aim would be the creation and distribution of coffee to the clients of Minnesota State. In addition, these products would be beneficial to the health of individuals as well as facilitate the growth of coffee, that is, the name of the company. We will discuss the diverse strategies used to make this company fast growing and better in its field as well as the target market of the company. In addition, we will calculate the margin of safety and our projected sale outcome for the next five years.
In addition, the project is expected to be commercial which gets based on the creation of profitable businesses for the shareholders as well as owners. Before the conduction and completion of the project, the consumer market of Minnesota State is supposed get assessed.
The Project Objectives
Some of the main objectives of the startup project are:
- Finding members of staff as well as training them
- Getting a license from the local regulations
- Finding a suitable site for the Minnesota eatery
The Project Goals
- The main aim of this project is establishing the eatery Minnesota State
- Have loyal consumers as well maintain the existing ones.
- Having several eateries around the state in the long run.
According to research, shareholders are an essential part of the augmentation of any company (Shulha, et.al, 2019). That being said, some of the crucial stakeholders include:
- Government personnel
- The local populace of Minnesota who are supposed to be either psychologically or physically affected by the project.
- Lastly, any stakeholders who are to be on board with their stock.
Clients are essential because they are the main foundation of any business; as a result, this is supposed to be the most basic element (Bocconcelli, et.al, 2018). The key clients for the eatery are:
- The tourists who visit Minnesota
- Some of the institutions for contractual purposes
- Both upper and middle class individuals who are able to afford the coffee.
Deliverables or Milestones for the Project
Deliverables are intangible or tangible services or goods that get produced subsequent to a project that are supposed to be delivered to a client (Jaber, et.al, 2018). These include:
- Redecorating or building the selected location
- On governmental regulations, a license would be important for the startup in Minnesota
- The main deliverable will be finding a suitable location for the eatery.
High-Level Timeline and Deadlines
- Our baseline is to open within 6 months of the planning
- Hiring and training staff should be undertaken before 3 months are over.
- A license is essential before the end of the 2nd month of opening the eatery
- A location is essential to set up this eatery.
The estimated overall cost of the company has been valued at around $500,000 including a franchise fee of about $ 420,000. The other costs that are remaining are supposed to be as a result of licensing of the eatery, renting the business place and other miscellaneous activities.
This point includes the purchase of kitchen equipment, consumable supplies from the suppliers, a computer for the counter, furniture for the eatery and kitchen equipment.
The eatery will initially require a staff of around 8 individuals. 1 person as the cashier; 3 people outside the kitchen and 4 cashiers.
Bocconcelli, R., Murmura, F., &Pagano, A. (2018). Interacting with large customers: Resource development in small b2b suppliers. Industrial Marketing Management, 70, 101-112.
Jaber, H., Marle, F., Vidal, L. A., & Didiez, L. (2018). Criticality and propagation analysis of impacts between project deliverables. Research in Engineering Design, 29(1), 87-106.
Shulha, L. M., Searle, M., Poth, C. N., & Chalas, A. (2019). STAKEHOLDERS WEIGH IN ON COLLABORATIVE APPROACHES TO EVALUATION. Growing the Knowledge Base in Evaluation: The Contributions of J. Bradley Cousins, 99.
Assignment 2: Project Proposal – WBS & Project Schedule
The project to open the eatery coffee restaurant was an idea I previously chose due to my interest in fast food joints. The coffee business venture will provide breakfast, lunch, and evening coffee to people and tourists of Minnesota State and government institutions with a specialty on offering fresh and purely ground coffee drinks.
In this paper, I analyze the Work-breakdown structure (WBS) of this project, which divides the main work of opening eatery coffee into smaller activities, which acts as a guide to accomplish the desired results. In this, we look at the business idea of the creation and distribution of eatery coffee in Minnesota State. The WBS shows the breakdown of core activities before the grand opening of the eatery coffee in Minnesota State. These activities are supposed to be scheduled for smooth implementation of the events and ensure the time efficiency of 6 months is achieved.
The core activities include deciding where the capitalization of the business, the furniture to be bought, site location, kitchen designing, wall paintings and decoration, recruitment and training of staff and ordering the supplies, stock, buying of equipment, utensils, and computers.
The WBS and project schedule below shows the core activities with duration and anticipated budget of every action.
PROJECT SCHEDULE OF OPENING EATERY COFFEE RESTAURANT IN MINNESOTA STATE
|Core Activities||156 days||$ 500,450|
|1||Creating a business plan||4 days||$ 1000|
|2||Surveying and discussing site location for setting up the business and also researching on customers’ tastes/preferences of people of Minnesota||5 days||$ 3000|
|3||Creation pre-production plan||2 days||$ 500|
|4||Signing an agreement with potential shareholders of the business.||2 days||$ 600|
|5||Discussing the capitalization of the shop||1 day||$ 800|
|Comparing the rental prices of different||2 days||$ 1,500|
|Inspecting and Choosing the a store/shop||1 day||$ 1,400|
|6||Meeting with landlord/real estate||2 days||$ 2,500|
|7||Discussing terms and conditions||1 day||$ 1,000|
|8||The signing of lease agreements||2 days||$ 20,000|
|9||Inspection of the location, payment of rental fee and exchange of keys||5 days||$ 1,700|
|10||Insurance of the coffee restaurant||2 days||$ 1500|
|11||Acquisition of equipment for coffee business such as utensils, computers, refrigerators among others||7 days||$ 2,000|
|12||Sourcing and identification of potential suppliers||3 days||$ 350|
|13||Designing of the structural plan with shareholders, stakeholders||4 days||$ 1000|
|14||Blueprint- discussing on furniture and equipment layout||7 days||$ 1,700|
|15||Renovations such as plumbing and electrical needs, e.g., unique lights||20 days||$ 4,000|
|16||Painting and decorations||15 days||$ 3,000|
|17||Installation of equipment, furniture, menu boards, counters, and fixtures||10 days||$ 2,800|
|18||Designing the interior –choose design and wall frames||14 days||$ 3,700|
|19||Designing the exterior such patio furniture and outside color||6 days||$ 4,500|
|20||The hiring of cashiers, waiters and other assistants ( posting jobs, interviewing, selection and hiring)||15 days||$ 2,400|
|21||Purchasing the stock from vendors||2 days||$ 15,000|
|22||Installation of CCTV cameras||10 days||$ 2,700|
|23||Installation of routers for internet access||2 day||$ 2,400|
|24||Implementation of security measures in the site||1 day||$ 1 400|
|25||Payment of franchise fee||2 days||$ 420,000|
|26||Grand opening restaurant||–||–|
Băncescu, M. (2016). Controlling project schedule progress, using control charts. Cybernetics and Systems, 47(7), 602-615.
Rahman, W. A. Z. W. A., Zaki, N. M., & Husain, M. A. (2019). A review of work breakdown structure and man-hours estimation method used in shipbuilding production. International Journal of Mechanical Engineering and Technology, 10(1), 1141-1158.
Sanghera, P. (2019). Project Schedule Management.In CAPM® in Depth (pp. 173-220).Apress, Berkeley, CA.
Zecheru, V., &Olaru, B. G. (2016). Work Breakdown Structure (WBS) in Project Management. Review of International Comparative Management/Revista de Management Comparat International, 17(1).