Comprehensive Business Proposal for a Customized Handbag Project

This business proposal outlines a project for a customized handbag business, addressing the growing fashion segment and customer demand for unique accessories. The project encompasses a detailed plan, including background information, expected benefits, and deliverables, emphasizing the competitive advantage of customized offerings. It covers project scope, risk analysis, and stakeholder management, detailing the life cycle of the project, work breakdown structures, required resources, and a comprehensive budget. The proposal also includes a planning schedule and concludes with recommendations for successful implementation. The project focuses on providing customized handbags for both men and women, leveraging social media for customer engagement and order management. The risk analysis identifies potential challenges, such as higher material costs and coordination issues, and proposes mitigation strategies. Stakeholder expectations, including those of customers, investors, and employees, are addressed with specific strategies to ensure project success. The project's life cycle is described through initiation, planning, execution, control, and closure phases, providing a structured approach to project management. Resources, including human resources and financial aspects, are carefully considered, aiming for efficient project completion and customer satisfaction.

Business Proposal
(Introducing customized hand bag)

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
Background..................................................................................................................................4
Expected benefits and deliverables..............................................................................................4
Project scope................................................................................................................................5
Project plan......................................................................................................................................5
Risk analysis for the project.........................................................................................................5
Critical discussion of project stakeholders..................................................................................6
Life cycle of project.....................................................................................................................7
Work break down structures........................................................................................................8
Resources.....................................................................................................................................9
Budget........................................................................................................................................10
Planning schedule......................................................................................................................11
Conclusion and recommendations.................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
A project refers to set of activities applied to achieve the specific objectives related to
business. In order to ensure successful completion of the project, it is important to apply the
project management principles as it contributes towards analyzing the situation effectively and
arranging the activities accordingly for implementation of plan (Edmonds, 2010). The current
project is based on customized hand bag which would cater the requirement of both men and
women. However, fashion segment is growing at rapid speed and influencing people to get the
trendy look. At this juncture, bag which is carried by men and women during office and parties
matter a lot. Owing to this, project plan is based on production of customized hand bag which is
higher in trend and customer desire to have the same kind of antique items.
Background
The competent in the sector of fashion is very higher due to continuous updation and
influence of customers towards the same. The organization operating in the fashion segment
must come up with new strategies and innovation in the product so as to survive in the
marketplace. However, new entrants has greatest threat in case they enter into market with the
similar kind of fashion. For this purpose, current business will deal in the customized offering
with specific segment such as jute, specific design and lather etc. The target will remain on both
men and women as bags will be provided for both party and specific purpose related to
profession as well (Heagney, 2016). Here, customers can easily get themselves registered on the
site of the business and they specific the product. However, use of social media will be done by
the business through which they can come to know about the preferences as well as their
specification.
Expected benefits and deliverables
The expected benefit of current business is higher rate of return and building the
competitive edge. However, currently there is less number of corporation working on the same
segment. Owing to this, current project related to customized hand bag would be more beneficial
for the business. At the same time, customer base will be increased. The deliverable under the
project is the customized hand bag which will be delivered to customers just after 5 days of
placing the order. However, project team will work to reduce the time taken but maximum length
will be 5 days after establishment of the business. It is made possible by designing the base of

bags in advance and then working on design part only after the order placement. This would
same the overall time (Richard, Sorooshian and Shariman, 2016).
Project scope
The project of customized hand bags will retain the customers by offering them range of
products. This will bring something new to the market due to its unique design and varied range
which will grab the attention of buyers and influence them to purchase the products and services
of the business. It is expected that project will be completed in 118 as per the all important
activity of the project (Sökmen and Çebi, 2017). The rationale behind consuming this much time
is association of customer preference and focus on specific need of customers.
PROJECT PLAN
Risk analysis for the project
Risk analysis plays important role in the process of identification of risk and management
of potential issues which are occurring the project. This assists corporation to line up several
business activities through application of suitable strategies for management of the risk (Hällgren
and Maaninen-Olsson, 2009). The risk management for the customized hand bag project will be
completed in the following manner-
Identifying the potential
risk
Determining the
probability (Rating
on the scale of 4 to 0
where 4 higher risk, 3
moderate risk, 2 at
risk, 1 might be at
risk, 0 not at all)
Determining impact Strategies to address
Higher cost of material 3 It will affect the
pricing scale and
accordingly customers
might dissatisfaction.
Introducing initial
discount for creating
psychological image
Lack of coordination
among members
1 Due to work pressure
might be people
Common workplace
along with daily

become less able to
coordinate
meeting
Issue related to quality 2 Might be disliked by
customers
Long procedure to
assess the quality
Poor time management 2 Delay in the execution
of the project
Following the time line
effectively.
Resources shortfalls 2 Delay in order
completion
Easy access to
resources through
advance ordering for
advance raw material
and contact in
specialist in the field
Critical discussion of project stakeholders
There are several stakeholders of the current project “customized bag” which must be
taken into account by the project manager. It has been explained as follows. The below
mentioned table is showing detail information related to stakeholders associated with the project
and expectations of theirs along with strategies employed to meet them (Paquin, Gauthier and
Morin, 2016). It facilitates to contribute towards organizational success and ensure betterment of
entire business effectively. For example, customers seek for the good product and quality along
with varied option which can be met through application of right kind of strategies.
Stakeholders Expectations Strategies to meet them
Customers Perfect quality of product
along with wide range
Inclusion of experts in design
section of the project
development
Investors Higher rate of return Selection of the most suitable
pricing strategies
Government Want business to meet the
legal and regulatory
Follow the ethical practices

framework
Businesses Increases profitability with
higher customer base
Focus on integrating
workforce and meet
expectations of buyers
Employees Job security and higher pay
scale (Dalcher and Brodie,
2007)
Provide them growth
opportunities and including
them into the decision making
procedure.
Here, all mentioned stakeholders are very important for the project who actively take part
in the process of completion of business related activities. Owing to this, management of project
can work upon the same for completing the activities related to business and shed light on the
business practices in an effectual manner. At this juncture, specific requirement of customers
will be focused whereby employees get chance to work upon the same in the right manner. For
this purpose, investors emphasize on increasing rate of return (Qumer and Henderson-Sellers,
2008).
It is made possible by offering them good return over their investment. It leads to meet
the expectations of all related parties and provide them comfort zone so as to ensure well being
of the proposed project. This is because when investors are happy then project will be funded
effectively. On the other, project team and other members of project will be provided equal
opportunities to take part in the decision making process. This leads to derive valid outcome and
support management of the business to raise the satisfaction of buyers by offering the perfect
quality of product and services (Morris, 2012). Owing to this, it is important to work on the
specific activities related to project whereby customers can be highly satisfied and other related
stakeholders' expectations can also be met. In this manner, expectations of all stakeholders have
been met through application of suitable strategies.
Life cycle of project
The life cycle of project plays important role where each step is backed by several
activities and task which need to be considered by project manager. This facilitates to apply the
most effective kind of strategies to manage the performance of project and other related task. It
has been explained as follows-

 Initiation-It is the first and foremost activity of project under which decision is taken
related to start up of the project. This is helpful for business to get the detail information
related to a particular project. For example, initiation of customized hand bag will be
done through inclusion of several activities such as market information, preferences of
customers and requirement to produce such kind of project. For this purpose,
technologies tools are applied in order to address the specific issues which are being
faced by the business (Dunne and Dunne, 2011). Planning-The work break down structure is prepared for effective planning of project.
The second step related to planing covers the risk associated with the project and other
related aspect related to the same. This proves to be effective in deriving valid outcome
and meeting the expectations of all related parties in the right manner. The customized
project planning phase has decided regarding the stakeholders and working process.
However, the working procedure has been defined in the below mentioned table with the
clear manner (Leybourne, 2009). Execution and control-The controlling and execution of customized hand bag project
will be done through inclusion of highly skilled personnel. They will take part in
maintaining the quality of bags perfect as per the standards. For example, testing support
will be provided all the produced products in accordance with the set standards. This
contributes towards organization success and long term success of the business in an
effectual manner (Art of communication in project management, 2017).
 Closure-The closure of project will be done in accordance with the set standards under
which people will be taught to complete the their task effectively. For example,
designers, labour and other will wind up the procedure in a very smooth manner.
However, critical success factors will be analyzed effectively so as to understand the
effectiveness of project.
Work break down structures
The work-break down structure of the customized hand bag project consists of several
activities. This is basically divided in accordance life-cycle of project which involve several sub-
activities. It enables management to carry out the operation activities effectively in the light of
mentioned aspects. The below mentioned work break down structure consists of activities lying

under each project related activity (Heagney, 2016). This proves to be effective for stakeholders
to meet the long as well as short term objectives of the customized hand bag. Major three phase
have been covered under the project such as planning, implementation and project closure.
However, the planning consists of all major activities which will take relatively higher time and
cost both. In addition to this, implementation is also important which contribute towards the
actual planning over the work.
Resources
The resources required to complete the project are essential for its successful completion.
The required resources for the completion of project are explained as follows-
Human resources
The most important source for the project of customized hand bag will include team of
30-35n people. It consists 40% and 60% women. The rationale behind including more women to

better implement the ideas of customers. These sources will be provided on the job and off-the-
job training in order to sharpen their skills and attributes. Furthermore, internet will be accessed
to get the new ideas related to bags which are hand made or customized (Richard, Sorooshian
and Shariman, 2016). However, they will be provided training to easily access google or interest
in order to get the information related to preferences. In this regard, team of 3-4 people will work
on the social media so as to quickly respond customers. For example, in case a customer has
requirement of red color bag along with yellow design then the information will quick be given
the design department. In this manner information will be updated they will be informed. Not
only this but those who are working on social media will also provide attractive idea to design
their bag in the form of suggestion.
Physical resources
Physical resources consists of raw material, machinery and technologies applied for the
project. Here, company will be in need of thread, jute and designers stone as well as colorful
laces. These basic material will be used to design the bag (Dalcher and Brodie, 2007). Other
accessories for preparing or finishing of bag such as different types of needles, threats and
machinery are applied. Apart from this, sewing machines and jute handling equipment will be
associated. In addition to this, initially customized hand bag project will be handled through
carrying 3 tablets and 2 computer. These are considered as the essential resources for the
production of customized hand bags to meet the expectations of customers.
Financial resources
The financial resources required for the completion of project will be based on the target.
However, initially project team will require loan worth 250000 and rest personal capital will be
employed for the production procedure. However, the loan is necessary for acquiring the
premises and raw material for the production of customized bag (Qumer and Henderson-Sellers,
2008). Therefore, personal capital and bank loan both will be used for the sake of acquiring
necessary resources. In this manner, each project activity will be back by necessary resources. It
leads to determine the long run success and handle any kind of uncertainty associated with the
particular project.

Budget
The budget assigned for different business activities has been covered under the planning
schedule. However, it has been allocated in the following manner in accordance with the major
project activities. The below mentioned table is showing all the important activities associated
under the budget section. In this manner, financial resources are allocated for all different project
related activities. However, the money excess of bank loan will be paid through the personal
capital of the business owner.
Activities Budget (00)
Initiation &Planning 225
Control and execution 180
Closure 45
Total 450
The table mentioned above is showing that major cost is taken under the head of
initiation and planning only. This is because all important information related to resources and
allocation of the same is done under it. In this manner, total cost for the project is 450 GBP. It
assists project manager to control the business activities and derive valid outcome accordingly.
Planning schedule
Planning of the customized project covers different major activities related to the project.
This assists entire project team to work in accordance with the set standards and derive the valid
outcome in the direction of growth and development (Morris, 2012). The below mentioned table
is showing that planning all activities related to project has specific time. For example, planning
related aspect will be completed in the time span of 39 days. Furthermore, implementation phase
of the project will take total 61 days. In addition to this, project closure is completed in the time
span of 18 days. Therefore, time line of entire project has been divided whereby customized bag
can be produced and delivered on time.
Task Name Duration Cost Predecessors
Describing the research 118 days 450
Planning 39 days 225
-Carrying out the market research 10 days
50
-Identification of problem 6 days 40 3

-Acquiring resources 8 days 80 3,4
-Allocation of financial resources 5 days 20 5
-Preparing outline of project 10 days 35 4
Implementation of the plan 61 days 180
-Assigning the resources among teams 16 days 30 7
-Stating the research methodology 18 days 20 9
-Assigning cost for each activity 7 days 25 9,10
-Conducting data analysis 20 days 30 11
-Presenting the results and findings 11 days 30 12
Project closer 18 days 45
-Stating the conclusion and recommendation 9 days 20 13
-Drafting the results 7 days 15 15
-Submitting the final report 2 days 10 16
The Gantt chart is showing that all activities covered under the project. It reflects that
starting time and ending time for the project. The starting time and ending time of each activity
has been presented as follows. This is helpful for business to manage the time in a most effective
manner. However, time schedule has been followed as per the critical path method so that two or
three similar activities can be completed together.