Project Management and Risk Analysis
Added on 2020-02-12
22 Pages5565 Words160 Views
Business DevelopmentLeadership ManagementMarketingDesign and Creativity
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PROJECTMANAGEMNENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4FIRST DELIVERABLES: FEASIBILITY STUDY.......................................................................4Project overview..........................................................................................................................4Statement of the problem.............................................................................................................4Define and write the project goals and objectives.......................................................................5Define and write the project deliverables....................................................................................5Create a work breakdown structure.............................................................................................6Key personnel & resources..........................................................................................................6Budget..........................................................................................................................................7Risks............................................................................................................................................7FINAL DELIVERABLES: PROJECT MANAGEMENT PLAN (PMP).......................................8Executive summary.....................................................................................................................8Company background, mission and key performance indicators (KPIs)....................................9Establishing performance goals and points for evaluation of the project implementation........10Project procedure and its evaluation..........................................................................................10Personnel....................................................................................................................................11Resource allocation plan............................................................................................................12Preparing and examination of the budget..................................................................................12Project purpose breakdown........................................................................................................13Communication plan..................................................................................................................14Work Breakdown Structure (WBS)...........................................................................................15Project schedule.........................................................................................................................15Risk management plan...............................................................................................................17Design and prepare closure evaluation and reports...................................................................19Final deliverable outline............................................................................................................21CONCLUSION..............................................................................................................................21REFERNCES.................................................................................................................................23
INTRODUCTIONProject management refers to the process of planning, initiating, executing, monitoring,controlling and closing a project to meet the defined or set targets (Muriana and Vizzini, 2017).The present project report aims at creating a project plan for establishing a new business in India.In such regards, the report will present an in-depth understanding of the various activities andfunctions that are required to be performed by the project manager to startup their prospectivebusiness in India within decided time limit. It will comprises enormous activities that will becarried out by the project manager such as defining the project, its scope, reporting structure, riskmanagement, communication plan, gantt chart, network diagram and many others. Moreover, itwill also create budget for the financial estimation of the costs and personnel requirement tocomplete the project within the decided time frame.FIRST DELIVERABLES: FEASIBILITY STUDY Project overview In the proposed project, it has been decided to open a new online rental service companyin India. Problem statement:In India, due to income inequalities, the trends among consumers to buy required goodsand services on rent are continuously increasing to reduce excessive spending. It bringsopportunities for the new entities to open an online rental business in the Indian market.Target: The main aim of the project is to deliver various services like rooms, cars, designerclothing and apparel, fashionable accessories and others items to the public.Assumptions: The online business model is totally based upon the requirement of users and theirbenefits.Risks: Lack of resources like funds, skilled personnel, technical failure, regulatory risk,consumer market risk and other may exists to the project planner. Statement of the problemNow-a-days, rising trends towards online rental business that gains preferences amongentrepreneurs explore the opportunity for the potential businessman to commence start-up or
expand their business in India through online rental services. Under this business model, entitiesdeliver required goods and services to the customers on rental charges. The demand for suchbusinesses in India is increasing over the years because; consumers are demanding preferredproducts on rents because they have not enough funds to buy the item (Banihashemi and et.al.,2017). Moreover, they require several products for specific purpose and after this; the item is notreally useful for them. Therefore, they are identifying sources from where they can purchase theitem at rental fees without the need of buying it. This is the reason behind selecting online rentalservices business in India. Define and write the project goals and objectives 1.To create an online rental E-commerce software where user can purchase required goodsand services on rent through reservation system2.To develop a website to advertise and promote online rental selling 3.To provide ease and convenience to the consumers through rental delivery system4.To reduce paperwork through developing a website to deal electronicallyDefine and write the project deliverables ObjectivesDeliverablesTo create an online rental E-commercesoftware where user can purchase requiredgoods and services on rent through reservationsystemWeb based system to collect, integrate andwarehouse registration recordsTo develop a website to advertise and promoteonline rental sellingWebsite that place online advertisement for thepromotional strategiesTo provide ease and convenience to theconsumers through rental delivery systemWebsite will enable users to shop online fromany place on a single clickTo reduce paperwork through developing awebsite to deal electronicallySystem that curtail paper work through onlinetransactions
Create a work breakdown structure Key personnel & resources In order to start a new set up in India, project planner will be require to recruit variouspersonnel for different purpose. For the successful implementation and completion of the project,it is essential for the company to have skilled, excellent, dedicative and enthusiastic personnel, sothat, they can carry out their work responsibilities effectively and meet out their targeted goalssuccessfully (Hope, 2016). With the prospective project plan, the personnel requirements arepresented below:Personnelrequirement Roles and responsibilitiesProject manager Manager will be responsible to plan the project, monitoring, administrating
and controlling. Moreover, he owes responsibility to produce expecteddeliverables and create an excellent plan for the risk management. Applicationdeveloper Develop will be require to construct a program specification plan throughclient discussion and breaking the specification into simpler terms to find outthe best solution of the problem (Bozarth and Handfield, 2016).IT engineerThe proposed business is about to open a new online rental business,therefore, IT expert needs to be hire who design and run software, createDBMS and will be responsible to handle all the technical and network issuesfor the proper functioning.Quality analyst QA will render suggestions for the development of test plans, application &functional testing and produce test reports as well. Project boards Board will recruit project manager and also communicate all the necessaryinformation to all the stakeholders (Srivannaboon and Munkongsujarit,2016). This body also has responsibility to assure proper resource availabilityand manage conflicts and disputes.Apart from this, entrepreneur will need necessary resources such as processor, operatingsystem, server, hard disk, software, database management software, quality testing software andothers. BudgetIt is the process of forecasting of future expenditures that project manager will be requireto spend to start their potential set up in India. It is important because it helps to anticipate therequired amount of expenditures, so that, project planner can collect required funds and manageit effectively to reach the desired outcomes (Reynolds, 2016). With the planned business, entitywill require approximately 50000 GBP that will be collected from the personal savings, financialsupport from friends and family members and borrowing through bank as well.RisksThere are different types of risks exists in a project that can negatively impact the project.It is essential for the project planner to take necessary steps and initiatives to prevent andsafeguard the project against potential risk. With the constructed project plan, there are following
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