project and risk management - Assignment
Added on 2021-01-02
18 Pages3508 Words387 Views
Finance
|
|
|
Project and Risk Management
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1 – INTRODUCTION AND PROJECT CHARTER....................................................1Brief presentation of Morrisons..............................................................................................1Rationale of the project..........................................................................................................13 SMART objectives..............................................................................................................1Project's key deliverables.......................................................................................................1Project Estimation and project time line................................................................................2Project's assumptions and constraints.....................................................................................2SECTION 2 – PROJECT SCOPE BASELINE AND SCHEDULE ..............................................2Work Breakdown Structure (WBS)........................................................................................2PDM methodology.................................................................................................................3Project Gantt Chart.................................................................................................................4SECTION 3 – PROJECT RISK ASSESSMENT AND MANAGEMENT....................................5Project's risks and risk registers..............................................................................................5Qualitative risk assessment.....................................................................................................7Suitable risk management strategy.........................................................................................8SECTION 4 – PROJECT COSTING, BUDGETING AND FINANCIAL APPRAISAL..............9Benchmark of similar projects to produce an estimation of cost and budget involved andforecast of expected revenue stream.......................................................................................9Appraise the financial viability of the project......................................................................11SECTION 5 – PROJECT STAKEHOLDER MANAGEMENT AND COMMUNICATIONSPLAN.............................................................................................................................................11SECTION 6 - CLOSING THE PROJECT....................................................................................12Measures and mechanisms to ensure the project remains in agreed scope..........................12Key deliverables of the handover phase...............................................................................12
CONCLUSION..............................................................................................................................12SECTION 7 - REFERENCES.......................................................................................................13SECTION 8....................................................................................................................................14Appendix..............................................................................................................................14
INTRODUCTIONProject and Risk Management is being considered as a process of identifying, analysingand handling all the risks which basically impacts upon overall life cycle of a project plan(Fleming and Koppelman, 2016). This specifically aid in attaining the desired targets instipulated time frame. Morrisons which is fourth largest chain of supermarkets in the UnitedKingdom has been chosen for this report, which is aiming to open 20 budget stores in order togain competitive advantages against ALDI and LIDL.SECTION 1 – INTRODUCTION AND PROJECT CHARTERBrief presentation of MorrisonsWm Morrison Supermarkets plc which is performing its operations as Morrisons, foundin the year of 1899 by William Morrison. It headquartered in Bradford, West Yorkshire, Englandand Morrisons is being considered as the fourth largest chain of supermarkets in the UnitedKingdom. Along with this, company is having approximately 498 stores in all over the world.Since, the organisation has faced decrease in there sales and revenue, Morrisons has decided toopen 20 budget stores in order to compete with a range of companies like LIDL and ALDI.Rationale of the projectBasic reason behind this project plan is to improve presence of Morrisons not only inUnited Kingdom but, in all over the world. Company has recently found that there market shareis going down and this made BOD to take decisions to open 20 budget stores.3 SMART objectivesTo enhance sales of cheap products (grocery) by 10% of £142m within 3 years.To improve revenue by 20% of £17.26B through offering customers with economicproducts within 2.5 years.To enhance the customer engagement through increasing fan following on social mediaby 5% of 267,780 followers in maximum time frame of 3 years (Cleden, 2017).Project's key deliverablesCheap products and services are going to be the key deliverables of present project plan.These are going to be offered by Morrisons in 20 brand new budget stores which will directly aidMorrisons in reaching to new heights in specific time frame.1
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Combining balanced scorecard with SMART objectiveslg...
|24
|5073
|12
International Short-Term Projectlg...
|18
|4011
|41
Critically Analyse Change Processlg...
|28
|7876
|96
Marketing Management of Morrisonlg...
|19
|5596
|98
Strategic Stakeholder Relationships Organisations - PDFlg...
|21
|6199
|481
Revamp the Internal Control Systems of Refineries in British Petroleumlg...
|26
|3763
|200