Sales Projection: Risk Management, Time Management, Implementation

This report discusses risk management, time management, and project implementation in the context of sales projection. It covers topics such as project risk management, project time management, and personal development plan. The report also includes Kotter's 8-step change model and Greiner's Life Cycle model.

Sales Projection

Contents
Introduction......................................................................................................................................3
PART 1............................................................................................................................................3
Project Risk Management.......................................................................................................3
Project Time management......................................................................................................5
Plan, Monitor, Control............................................................................................................7
PART 2............................................................................................................................................8
Project Implementation..........................................................................................................8
Part 3 -Personal Development.......................................................................................................13
1. Gibb’s Reflective Cycle:..................................................................................................13
2. Team Skill (Balbin):.........................................................................................................15
3. Personal development plan (PDP):...................................................................................16
CONCLUSION..............................................................................................................................17
References......................................................................................................................................18

Introduction
Project management consists in applying practices, strategies, skills, knowledge and
experience to meet project application requirements inside the established timeframe to specific
project goals (Boatright, 2017). The management of the project requires final reports that are
limited to a specific period and expenditure. Project planning consists of coordinating and
managing the personnel of an organization in order to accomplish a given mission, functions or
job. This may include a specific initiative or a continuing task, the controlled resources require
workers, budgets, innovations where patents. The respective project is based on sales projection
for upcoming years of small Company selling a particular good such as Sports equipment is
selected.
In this report, risk management plan, project time management, project implementation is
discussed. In addition, personal development plan is prepared in the context of sales projection is
also discussed.
PART 1
Project Risk Management
A risk management strategy is a framework designed by a project planner to predict risks,
quantify impacts and identify risk responses. The first step in risk assessment process, beginning
with company priorities, aligns with existing and also future targets. The second step in
developing a risk management strategy is to review digital infrastructure like platforms,
networks, applications, computers, suppliers and records. The risk assessment department would
continue to evaluate the risk after identifying threats. Positive threats, like early delivery of
product, also can result in bad risks, like inability of a client to fulfil a repayment plan. In
looking for a way to assess their future effects, the company must predict risks. It also includes a
framework for risk assessment (Rendtorff, 2017). In order to determine the risk related with
future sales of Sports equipment company the risk register is discussed underneath which also
support in analysing each project risk and make proper responses to resolve certain project risk.
The same is elaborated:
Risk Risk analysis
(Likelihood) Risk Response Consequences Control/ Mitigate risk
1. Regulatory risk Likely Arrange meeting, Due to various In order to keep away from

conferences so that
manager can convey
their ideas to other
team member
inaccurate
communication project
might faces the
respective harm.
the corresponding risk
manager of project
are needed to monitor other
people's actions and pay
close attention to
each employee's operation.
2. Resource risk Likely Maintain reserve for
additional resources
and only use them in
case of certain risk to
the project.
When Company is
planning the project at a
very wide level,
resources may be
shorten due which can
lead in delay production
and also making burden
over management level
as they fear to the
failure of project.
It is important to schedule
each and every available
resource in a very organized
manner and assign them
effectively by figuring out
the actual need of this help
to resolve the appropriate
risk.
3. Team conflicts
risk
Unlikely Make arrangement for
curriculum activity so
that team member can
share their
perspective and
thought with each
other.
The primary reason for
the corresponding risk
factor is that since team
leaders are not involved
and unable to interact
adequately with each
other, this is becoming
directly negative and
had an impact on their
success rates (Morrison,
2015). Due to intense
conflicts member
always tries to let down
the performance of
other team worker.
To accomplish through the
specific risk from company
it is important for the
project manager to work
considering the interest of
other and give inspiration so
that everyone can make
more of their best attempts
in a constructive way to
attain the company goal.

4. Product fit risk Unlikely Try to research
market deeply in
order to expand
product list.
Due to this kind of
risk the consumers
are unable to demand a
product or service or
they do not like existing
goods and needs new
one. Thus this risk can
decrease the customer
base and reduce the
brand value.
In order to properly control
this risk, project manager of
company wants to collect
future customer awareness
that the programs really
intend to provide in the best
way (Ghazali, 2015).
5. Unit cost risk Likely Set benchmark to
measure the cost
incurred at each
operation.
It happens even when
high waste occurs
which increases the cost
of per unit. This is
considering being the
biggest which can
directly lower the
revenue generation for
company within
specific time frame.
Project manager must
include and use efficient and
innovative technologies to
resolve the respective
challenge organisation in
order to be competitive on
the market.
6. Supply chain
risk
Unlikely Make List of nearby
distributor to change
old supplier as soon
as possible.
The main reason for
this risk is not working
of supplier properly.
Project manager of
organization have to
develop communication
with far more than one
distributors to abstain from
the respective risk
Project Time management
Time management is the main project manager responsibility and they must be prepared
with a good competency and time management understanding in order to attain company sales
goals in upcoming time. There are a variety of time management strategies built into the
philosophies and best practices of the administration.

Plan schedule management: This is mainly related with the practice of developing rules,
protocols, and documents to prepare, create, maintain, implement and monitor the timetable of
the project. In other words, the program scheduling control process is geared at ensuring a
project is finished on time. In Project Schedule Management System, scheduling methods and
collecting statistically accurate data are of support (Ims and Pedersen, 2015). The timetable
management strategy will also include the methods and tools used throughout the project of sales
projection of Sport equipment company. The plan management strategy also requires the
creation of a reference calendar. Planning reference is important during the Implementation
Phase of Project Planning. It helps to test how the project is progressing as expected and whether
the deadline for the project is being met. Hence the reference calendar is included in the project
management plan.
Plan Activities: These are the list of activities which are performed within entire project and
manager must make sure that these must be completed on actual deadlines.
Activity Start Date End Date Duration
Budget Approval 01/06/2020 03/06/2020 2
Hiring of Staff
member
03/06/2020 05/06/2020 3
Allotment of Duties 05/06/2020 07/06/2020 1
Research and
Development
07/06/2020 12/06/2020 6
Production of goods 12/06/2020 15/06/2020 3
Valuation of Stock 15/02/2020 16/06/2020 1
Analysing of Revenue 18/06/2020 20/06/2020 3
Plan resources: A resource plan sums up the amount of capital available to accomplish a
project. A well-defined capital plan outlines the exact manpower, machinery and resources
required to complete respective sales projection project of company. This framework for
resource preparation also lets manager to know key Sponsor’s permission to ensure the acquire
within project. This also allows manager in budgeting and estimating project spending by
incorporating sound management planning activities. In the context of above mention project, the
total budgeted cost is 4000 GBP which will be spend over different promotional and sales

activity, there will be 20 team member required to carry different operation (Arnold, Beauchamp
and Bowie, 2019).
Milestone: A project milestone is a zero-duration activity which indicates a significant
elevation. The milestones must show a complete series of events which will build up
progressively until Company project is done. This is the way to know how well the project is
progressing, particularly if manager are unfamiliar with the activities being performed. They has
null period as they represent a success in a mission, or a moment in time. Since the start and
finish of milestones relies on the start and end of a work, task collaboration is an essential
element of a milestone. In the context of respective project the following are the key milestone:
Design Approval
Obtaining Funding
Hiring Individual Positions
Vendor Contracts
Communication Updates
Release of Product Samples
Testing Phases
Fixing Defects
Project Completion/Approval
Plan, Monitor, Control
A risk with low probability results in catastrophic financial effects. Meanwhile a high-
probability chance can have little effect. The project team need to develop a set of risk
management strategies for accepted risks. For any risk recognized or moved by an organisation,
it has to identify solutions to the problems that that emerge. In addition also make maximum use
of these resources increasing company profitability. The cataloguing of all items also helps team
leaders to recognize the asset threats. A risk, or unknown occurrence, can be a right or wrong
situation with financial, organizational, or monetary consequence. Monitoring the project
milestones requires defining and evaluating progress towards the Crucial Road tasks and other
significant steps or decisions made on the project. As a results overall sales can be increased and
expand product specification all across business boundaries. The must more relay on including
operation which can lower operating cost and increase sales volume (Ciulla, 2020).

PART 2
Project Implementation
The execution of projects (or development of programs) is the process in which dreams
and proposals are made possible. After assessment, choices, visualizing, preparation, financing
application and the discovery of financial capital in a venture, this really is the ultimate outcome.
 Kotter’s 8-step change model
The eight steps are discussed below:
Step One: Create Urgency
The concept of a transformation required for the Company success that can be quite
strong. it help manager to build an atmosphere in which consumers are conscious of a recent
edition and are willing to consider a potential alternative, so demand would possibly improve for
improvement. The process is mostly about planning and Kotter reports that about 75% of the
management of Company has to adjust to succeed (Kotter’s 8-step change model, 2020).
Step Two: Form a Powerful Coalition
To optimize the effectiveness, manager of Company can create a coalition composed of a
number of talents, a diversity of expertise and people from various fields of industry. The
alliance will help company to connect, assign research and promote progress system-wide in the
enterprise.
Step Three: Create a Vision for Change

It is observed that having clear vision it is easy for the member of Company to grasp and
perfectly captures the ultimate purpose is also a valuable way to attract support from Company.
Although this concept is supposed to be clear and concise, it also requires being motivating to
have full impact.
Step Four: Communicate the Vision
Making a vision is not sufficient to generate support; it must then be communicated
across the organization. The message has to be conveyed regularly, as conflicting signals are
likely to be transmitted as well in the entire functional department of Company.
Step Five: Remove Obstacles
There can be various obstacles such as people, beliefs, laws or physical hurdles, which
are blocking the path of Company sales progress. Thus manager are needed to identify all
obstacles at initial level and use tools available to resolve these issues, without affecting any
other aspect of the Company.
Step Six: Create Short-Term Wins
When generating a variety of short-term gains, it is necessary to illustrate the value of the
new procedure. It will serve to inspire workers to continue promoting the reforms while
leveraging it benefits to validate expenditures and commitment.
Step Seven: Build on the Change
Kotter believes that maintaining and cementing the transition is necessary for long after it
has been completed. Begin setting targets and evaluating what could be best achieved to keep
progressing.
Step Eight: Anchor the Changes in Corporate Culture
Manager must keep key members on track, inspires young employees to carry on
improvements and welcomes the adjustments that both lead to promoting the transition in the
heart of the Company (Crane and et. al., 2019). Greiner’s Life Cycle model
Larry Greiner initially presented five growth stages, with which he recently expanded a
sixth phase. These are discussed underneath:

Growth through creativity
The business owners who established the company are engaged in product creation and market
opening. There are not many workers, but casual contact works well, and long-hour bonuses are
possibly through profit-sharing or profit sharing.
Growth through direction
Functional manager are employed, which establishes a middle management that manages
the main areas of Company. They formalize and streamline regulations, practices and business.
The main structure of company is left in the hands of top personnel.
Growth through delegation
The top administrative assigns significant middle management roles to team members. The goals
are guided and it is the duty of the middle managers to accomplish tactical and operational
targets.
Growth through coordination and control
More focus is focused on the cooperation between the different units of Company. The
numerous personnel carry up a powerful role from the offices from where the divisional
administrators are managed.
Growth through cooperation
The goal of cooperation among organization structure teams is to tear down the traditional
structures of management such as functional structure or project organisation (Duska, Duska and

Kury, 2018). This process is marked by lots of reciprocal communication between workers
through consulting groups of all grades.
Growth through alliances
In this process of 'development by undertaking' the company needs only good external
connections and alliances. This can be found in fusions, partnerships and large networks.
 Stakeholder Identification
Project manager is needed to recognize the stakeholder at very first before they can
involve within the project. Then manager are required to classify them to bring them into classes
that are acceptable. It enables to build the best approach during the project to connect with those
classes. The advantages of defining and correctly evaluating the correct stakeholders are that: it
helps sports equipment company to boost the project quality, because stakeholders will provide
with crucial information and ensure that company do not miss anything important. Moreover, it
can prevent delays by making stakeholders more comfortable than barriers to obtaining approval.
Mind mapping gives manager of company a way to create and handle the knowledge as
they really have to define and evaluate stakeholders functionally.
Step 1: Brainstorm your stakeholders
Launch a small map and simply click and hit return to every stakeholder username. It's a
fast way to grab names and stay consistent to the sharing of useful knowledge to the team
member of company involved in sales projection project.
Step 2: Assign your categories
Then, selection of name on stakeholder maps to further choose the right team member for
the particular project company is going to organise. Manager can consider pre-installed the
groups High Power / High Interest, High Power / Medium Interest, Medium Power / Low
Interest. Moreover they can also create their own categories in order to simplify the information
for other uses within company.
Step 3: Filter the categories
Furthermore, select the best type of category by which project manager would like to
filter information while using chart as the Fast Filter button in the Research ribbon (Painter-
Morland, 2019).
Step 4: Display list

In addition, select a different style to view the information in a format which lets project
manager to properly understand the details, choose different map formats so that results can be
made in favour of company.
The key stakeholder related with the specific project is listed underneath:
Stakeholder
Project Manager
Project team
Project sponsor
Business analyst
Consumer
Suppliers
 St-holder Mapping
This is a task of figuring out the Stakeholder who contribute and are prepared to support the
company's project. The company recognizes these individuals before the project starts, grouping
them according to their degree of participation, interest and impact in the project and deciding
how every one of these stakeholders involved will best be aligned and communicated during the
project. Mendelow (1991) evaluate that stakeholder groups are power-based (the potential to
control our organizational strategy or project requirements) and interest (how involved they are
in the effective organization or project). This is premised on Power and Interest that enables us to
recognise which stakeholders are extremely important, with High Power and High Interest that
Company would require to manage and take care closely and spend a huge amount of resources
and with them. By developing a Mendelow matrix Project manager can quickly determine target
audiences and then prepare for coordinating activities while ensuring the satisfaction of all
groups. Likewise they can identify stakeholder groups to be approached using this tool while
preparing a marketing campaign (Werhane, 2019). In the context of Sports Equipment sales
project the same is discussed underneath:
INVOLVEMENT LEVEL
POWER LEVEL HIGHER LOWER
HIGHER Project Manager Suppliers
Project sponsor

LOWER Consumer
Business analyst
Project team
High power, people of high importance (Manage Closely): Manager aims to engage such
people entirely, make the utmost efforts to please them.
High power, less interested (Satisfied): Manager of project put increasing effort into these
individuals to always be satisfied, but not so bored by your post.
Low power, highly engaged people (Keep Informed): Manager must educate these people
sufficiently and speak to them to make sure no big problems occur. Such crowds will also serve
to illustrate any things that may have changed or been neglected (Werhane, 2019).
Low power, less interested individuals (Monitor): don't burden these classes of
stakeholders with unnecessary contact; keep an eye on how their involvement or control rates
change.
Part 3 -Personal Development
1. Gibb’s Reflective Cycle:
The Gibbs reflection cycle has 6 steps which can be used by individuals, for instance, to
understand problems at sales projection, to recognize what has done very well improved. I
finish Gibbs reflection cycle on my assignment:

Description:
We got a briefing about what we are expected to do. We had to develop a business plan
for our project, create an outline and survey. I had idea of establishing a bakery because I am
involved in baking and still want to develop this in near future. I've been working on business
plan. I had such a variety of speakers talking to us concerning their background in business as
well as jobs. We were prepared to request them regarding our business plans and to give them
input in lectures (Husebø, O'Regan and Nestel, 2015).
Feelings:
I was looked forward to challenge and I looked forward to focusing on something that I really
desired to do. I have evaluated the task and write suggestions about of what I can work on.
Working on projection of revenue was an exciting process. I've had people still interested in
purchasing my products. I've had ample time to come up with estimate about how many
consumers will pay monthly with me. Having looked at population and fact that in last 3 years
around 30 million shoppers had already visited location where business is situated. I arrived with

a prediction that 450 travellers would spend every month. I tried to explore that with my mentor
to determine if it was practical sufficient for me just to do this so I focused it simply about how
many people visited.
Evaluation
The questionnaire truly did work excellently. I always get individuals from the place of
business telling me when you'll start cake business. If people talk about my idea it is usually
inspiring and supporting. All people who took park in questionnaire were focused, gave me
effective feedback and answer and assisted me to have all information I needed also for
market/sector research.
Analysis
The issues that went wrong were the lack of expense statistics and the inability of certain
agencies to support or supply details. I guess they may have done so to reflect on what's bringing
money so they didn't take me strictly as a learner. That didn't get me depressed. I figured by
contacting them by telephone or visiting the centres. I can get through this, but once again I
didn't get response. I've done everything I could probably get details. If I hadn't provided any
details at all, then I should have preferred to adjust my stall spot (Potter, 2015).
Conclusion:
I guess I would have picked another spot for Pop-up Stall. I had in consideration putting
up stall in Shopping Centre as back-up option, but my favourite spot was due to number of
customers it draws. Location is quite crucial and I consider if I altered my exact position that
would affect my forecast of sales and profits.
Action Plan
I hope I will boost my estimate for revenue and the costs involved. I think I will boost my
production approach. I ought to consider the business, the dynamics, what the consumer needs,
to be more informed to meet this challenge in future; I ought to take into consideration how
much that would cost to make one cake as well as to focus on my projections and prediction.
2. Team Skill (Balbin):
Experienced Belbin consumers and sales forecasting experts consider Belbin to produce
positive results for sales staff. Belbin team roles are one of the simplest and best techniques to
use to achieve so. Sales teams have a valuable opportunity to adjust efficiently to consumer
demands and handle dynamic relationships between shoppers and sellers. Bringing together

perspectives from empirical studies and clinical experience, we conclude that sales staff can be
influential in developing positive business partnerships and Belbin Team Role principle can help
create more efficient sales teams. There are 3 primary ways a Belbin Team Roles concept can aid
in the creation and production of successful sales teams by sales organizations (Balbín Díaz and
Pérez Manrique, 2013).
 Growing Sales Productivity by understanding how individuals may relate to
developed procedures in sales.
 Improving consumer relations by improving communications and proactive sales.
 Usage of Team Positions complementarity within sales team.
Within any sales team each person has specific inputs to bring to sales procedures.
Recognizing and maintaining those efforts is essential to improved sales efficiency. In a variety
of selling processes specific Team Positions could be used efficiently. Control evaluators are
able to objectively evaluate strengths and deficiencies in previous sales. Specialists will have the
skills required to analyse data, and turn information into predictive analytics. Sales teams offer
potential for increased active learning and communication of knowledge that is far more
restricted in the conventional person selling model/structure. High-performing sales staff focused
on collaborative target fulfilment see greater employee participation rates and less dispute.
3. Personal development plan (PDP):
Personal development strategy uses career creation and personal improvement in terms of
doing business revenue forecast. This provides a clear roadmap and design work to achieve our
life objectives. If user calls it the foundation of lives then it is not going to be wrong. This is
human self-reflection. While establishing objectives, one think wants to be line with
his priorities, strengths and business opportunities. Instead one makes PDP to achieve that aim as
we have agreed a purpose in his life. Once individual evaluated competitive advantages while
designing PDP and got to recognize skills development, capabilities that really are beneficial for
sales projection. It's not enough to evaluate our selves just to achieve goal. Individual should also
evaluate what sort of services they can get and where they can get these from. They also
surmount risks to fulfil our objective. As they come to learn that each factor that helps or hinders
our target explicitly or implicitly. Then they are designing a very detailed plan to achieve our
stated target of effective sales projection (Beausaert, Segers and Grohnert, 2015).

CONCLUSION
In the end of report, it has been concluded that project management is the effective way to
manage and control project operating in desired manner that help to reach set targets. The project
team must take a glance at the likelihood of the event occurring for each identified and assessed
risk, and then predict effects to the company if it occurs. Thus the methods for risk mitigation
conduct as a contingency precaution in place the incident happens to help lessen the structured
influence. In accordance with Kurt Lewin's research, it describes the eight main phases of the
reform cycle that can be sufficient throughout the whole effort to struggle to miss one of these
measures. A change plan is probably to be quite complex and can sometimes be difficult to
grasp, particularly for workers at the bottom of the hierarchy. This is an outstanding chance to
leverage the partnership that you have generated as networks across any field of the market are
likely to operate between them.

References
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