Business & Finance homework help. Assignment 2: Project Proposal – WBS & Project Schedule
Due Week 8 and worth 100 points
In Assignment 1, you have defined key portions of your project. Now, it is time to develop a Work Breakdown Structure (WBS), and project schedule for your project. Note: Please use the project from Assignment 1 to complete this assignment, which requires that you develop a WBS & Project Schedule for your project.
This assignment requires you to:
- Create a WBS for your project using the proper format (MS Word, MS Excel, Visio, or any other applicable format) to depict WBS graphically (see Figure 4.4 from Chapter 4 of the Larsen textbook). Alternatively, you may use a coded format using MS Word (See Exhibit 4.1 from Chapter 4 of the Larson textbook as an example. The example is in MS Project format but the same could be done in MS Excel).
- Create a project schedule that lists all of the core activities, dates (start & finish), and resources to complete your project. While it is recommended that you use MS Project, you can use MS Excel to create your schedule. Your project schedule must contain at least 30 separate activities/tasks.
The specific course learning outcomes associated with this assignment are:
- Develop a project plan including the critical elements of project scope, priorities, Work Breakdown Structure (WBS), and communication plan.
- Develop a project network to implement the project plan, manage projects effectively, and complete required resource reallocation.
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.