The local people of norther territory

Running head: PROJECT PROPOSAL
Setting up business for selling Specialized Machinery parts
Name of the Student
Name of the University
Author’s Note

PROJECT PROPOSAL
1
Executive summary
The paper focuses on setting up of a business that sells specialized machinery parts in norther
territory. It is found that the organization recently adopts PRINCE2 for managing project
therefore they want to raise their profile and become socially responsible and as a result they
undertake the project. The project that is undertaken not only helps in improving the brand of
the organization but also helps in creating job opportunities for the communities of norther
territory. It is found that the paper undertakes SWOT as well as weighted scoring model for
analyzing the project. Moreover, the project showcases the budget and time which is needed
for the project. Additionally, the risks which are linked in the project are mainly illusrated.

PROJECT PROPOSAL
2
Table of Contents
1. Overview................................................................................................................................4
1.1 Purpose or objective of the proposal................................................................................4
1.2 Best way to measure the project success..........................................................................5
2. Expected benefits and Dis-benefits........................................................................................6
2.1 Context and analysis........................................................................................................6
2.2 Identification of the expected benefit and dis-benefits....................................................8
3. Project requirements...............................................................................................................8
3.1 Description of the requirement for carrying the project...................................................8
3.2 Possible assumption.........................................................................................................9
3.3 Constraints for the project..............................................................................................10
4. Costs.....................................................................................................................................10
4.1 Cost estimation...............................................................................................................10
4.2 Ways of cost estimation.................................................................................................11
5. Major risks...........................................................................................................................11
5.1 Identification of risk.......................................................................................................11
5.2 Risk management strategies...........................................................................................12
6. Timescale.............................................................................................................................13
6.1 Time-period required for the project..............................................................................13
6.2 Major milestones............................................................................................................16
7. Conclusion............................................................................................................................16
Bibliography.............................................................................................................................17

PROJECT PROPOSAL
3
1. Overview
1.1 Purpose or objective of the proposal
Identification of the problem
The paper focuses on the project that sets up a business for selling specialized
machinery parts in northern territory. It is found that the organization has recently introduced
the methodology of PRINCE2 for managing different types of projects. As several policies as
well as templates are yet to developed and therefore the employer generally wants to improve
their profile by being socially responsible and has mainly decided to allocate a project within
$50,000 budget.
Project scope
In scope
 Undertaking market research before setting up the business
 Selecting proper structures of the business
 Picking as well as registering the business name
 Creating places for storing specialized machinery for selling
 Getting permission as well as licence
 Building accounting system
 Promoting the entire business