Business Project: EDEKA's UK Market Entry Risk Analysis

Desklib provides past papers and solved assignments for students. This project analyzes EDEKA's UK market entry.

MANAGING A SUCCESSFUL
BUSINESS PROJECT

TABLE OF CONTENTS
Task 1...............................................................................................................................................1
1. A brief explanation of the proposed topic and why you have chosen it..................................1
2. An aim and some objectives for your proposed research........................................................1
3. A brief discussion of the scope and limitations of the project.................................................2
4. Resources and cost consideration............................................................................................2
5. A Gantt chart or work breakdown structure in order to provide timeframes and stages for
completion...................................................................................................................................3
6. A risk register covering the main risks with the proposed research........................................4
References........................................................................................................................................6

LIST OF TABLES
Table 1: Gantt chart.........................................................................................................................6
Table 2: Risk register.......................................................................................................................7

Task 1
1. A brief explanation of the proposed topic and why you have chosen it.
Project introduction
The project is about to analyse the various type of risk and benefits that can be achieved by an
organisation when they want to enter in the international market. EDEKA is the leading
supermarket retail store based in Germany but now they want to enter the UK market so it is
essential for analysing the scope for EDEKA and its demand in the new market. The project will
provide the various types of information through which EDEKA can analyse the benefits and
risk associated with the organisation if they enter in the UK market (Knight, 2015). The reason
behind selecting this topic is to more focus on the scope of the new market enters for the
organisation who wants to expand their business in the international market. The purpose behind
this topic is to identify the strategies through which risk factor in the strategy can be managed by
EDEKA when they enter the UK market.
2. An aim and some objectives for your proposed research
Project aim: The project aim is to evaluate the various type benefits along with the risk that may
be faced by EDEKA when they enter in the UK international market by using the new market
enter strategy.
Project objectives:
 Project objective is to analyse the benefits and demand for EDEKA if they expand their
business in the UK by getting into a new market.
 Project objective is also to focus on the risk or challenges that may be faced by EDEKA
during their expansion in the UK market through new strategies.
 Project objective is to collect the qualitative and quantitative information through books,
journals and survey.
 Project objective is to collect accurate and reliable information about the selected topic
and try to complete the project within set limit duration.
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3. A brief discussion of the scope and limitations of the project
Project scope: The project is about to conduct the primary research and secondary research by
conducting a questionnaire survey and by using books and journals. Primary research is
conducted by asking a few questions from the managers of the EDEKA related to the new
market risk and benefits in the UK. With the help of the primary research, it will become easy
and effective for the team of EDEKA to analyse the challenges they may face during entering in
the UK international market (Kerzner and Kerzner, 2017).
Project limitations: The major limitations that are related to this project is that scope and set
project objective is only applicable for this project only so if organisation change their project
then they need to change their whole strategy along with the resources. Resources in this project
are also limited due to which existing resources may face high workload.
4. Resources and cost consideration
Project resources: Required resources in this project are- fund, market research team, project
team, equipment to implement the plan, quality management resources etc (Larson and Gray,
2017).
Cost consideration: The cost is estimated by the project manager in which the following
activities along with the budget are mentioned:
Activities Cost ($)
Market research 7500
Collect data 5000
Human resource 10,500
Data analysis and findings 3000
Project documentation 2000
Project budget $28,000
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5. A Gantt chart or work breakdown structure in order to provide timeframes and stages for
completion
Table 1: Gantt chart
Activities 1-15
April
16-25
April
26-5
May
5-15
May
16-22
May
23-1
June
2-10
June
11-20
June
21-25
June
Create project plan
 Estimate time
 Project scope
 Market analysis
Project requirements
 Cost estimation
 Fund arrangement
 Competitive
analysis
 Risk assessment
Pre-designing project
 Identify alternative
strategy
 Create rough plan
 Create proposal
Project design
 Collect resources
 Distribute roles and
responsibilities
 Maintain quality
 Meeting with
stakeholders
 Project
documentation
Project implementation
3

Monitor the project and
control
 Progress
monitoring
 Update the plan
 Quality testing
 Control the risk
Post implementation
 Take feedback
 Provide training to
employees for
improvement
 Review
stakeholders
feedback
 Complete project
6. A risk register covering the main risks with the proposed research
Table 2: Risk register
S. No Risks Owner Mitigation Actions Risk
Likelihood
(for low 1 and
for high 5)
Risk
Severity
(for low 1
and for
high 5)
Discussion
1 Time issues Project
members
Use the
prioritisation time
management
strategy
Coordinate
with
resources
and
activities
and cover
problems
2 4
4

2 Low
experience risk
Project
Manager
Analyse current
skills and delegate
roles accordingly
Provide
training to
enhance
their skills
3 5
3 Over budget Project
Manager
Compare budget
with the actual and
estimated figure
(Carvalho and
Rabechini Junior,
2015)
Estimate the
resources
cost through
market
research
4 4
4 Lack of
communication
the project
sponsor,
Event
organizer and
project
manager
Conduct meeting
with the
stakeholders and
discuss project
details
Coordinate
with the
team
members
and
stakeholders
to analyse
the project
status
4 3
5 Lack of tools
to manage
project risk and
progress
Project
Members
Use hardware and
software at initial
stage
Estimate the
additional
cost for
investment
4 5
5

References
Books and Journals
Knight, J., 2015. Internationalization brings important benefits as well as risks. International
Higher Education, (46).
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Larson, E.W. and Gray, C.F., 2017. Project management: The managerial process. McGraw-Hill
Education.
Carvalho, M.M.D. and Rabechini Junior, R., 2015. Impact of risk management on project
performance: the importance of soft skills. International Journal of Production Research, 53(2),
pp.321-340.
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