Project Management Report: Analysis of a Fast Food Restaurant Project

This report provides a comprehensive analysis of a project management plan for establishing a fast food restaurant. It begins with an introduction to project management principles and their application in this context. The report details stakeholder concerns, focusing on the desire for a successful ven...Read More

Project Management

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Stake holder concern....................................................................................................................3
Various Risk into the project.......................................................................................................4
Time taken in project...................................................................................................................5
Realisation of benefits..................................................................................................................6
Challenges in project execution...................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management suggests making courses of action which is required in a project.
The project management is connected to managing the whole project, administering fuses
resource dealing with, making practices course of action, and dealing with the work by assigning
them their employments and obligation, and the so on. Managing a project is a genuine
extraordinary task. It requires standard management and seeing of work. Every association
endeavours a project and endeavours to complete it at time. The whole project is divided into
little activities of tasks which sum up the project. For reference this report has embraced a
specific project for introducing the sun powered plant framework into the workplace premises.
The project requires an enormous cost which it has some financial plan, dangers, time, scope and
so on. The motivation behind this project is to introduce the new brand fast food restaurant. This
project has a spending plan of 50,000 Euros and a period range of a half year. This report talks
about the partners concerns, dangers, time, cost and advantages acknowledgment alongside the
difficulties which is looked by the project administrator.
TASK 1
Stake holder concern
Each venture has a thought process or objective. The speculators or the partners
additionally hold a desire which they have with respect to or identified with the undertaking. The
purpose for this project is to build up a fast food restaurant in which they have planned to bring a
new concept for opening up a restaurant. The project is a very expensive one as it is not very
easy to stand up a own restaurant. And to make it successful, it needs a lot of investment of
funds. The venture has the following advantages:
A trend: It has been noticed that the restaurant business is totally in into the market. And the
project plan is to open up a fast food restaurant which would provide the healthy food and drinks
to the people. The people have become keener and focused related to their diet. They prefer the
food or the drinks which are fresh and do not contain any kind of synthetic ingredient in that
(Owusu, Chan and Shan, 2019). They have planned to fulfil this need and trend for the customer
by providing the food which is healthy for their diet.
One time investment: Building up a restaurant is a onetime investment. This major one time
investment may include building up the structure or the place where the project for opening up a
fast food restaurant will go to set up. It also includes the cost for acquiring the resources and the
machineries which would need into the restaurant. Opening up the restaurant do needs a lot of
investment and it does not consider an easy task to perform. Opening up a restaurant requires a
huge investment into the project. After fulfilling all the one time investment the company need to
handle the other secondary expenses which would get occur in a time period in months.

Effective of plan or undertaking: The significant worry of the partners is that the task or the
plans which are made through the venture ought to get executed appropriately by the
organization and it must convey the advantages to them according to the plans. The partners are
more worry about the degree of advantage it would give them. They would consider that whether
the cost which the organization has put upon the task is more or identical to the advantages it is
currently giving to them (Cicmil and Gaggiotti, 2018).
Returns: Returns allude to the compensation once more from a specific venture which is being
finished by the partners. Here the profits are the level of advantages the task has been given to
the organization. In that event opening up a fast food restaurant is not an easy project. However,
in the event that the profits which the task is providing for the organization are insufficient then
there would be some mistake.
Various Risk into the project
The dangers are the dangers to which a specific venture is inclined to. Each venture is
inclined to a few or the other sort of dangers and it is the obligation of task supervisor to
recognize these dangers and lessen or dispose of such with the goal that the undertaking can get
executed quite well. This specific undertaking of introducing the sunlight based plant framework
is additionally inclined to dangers. A portion of these dangers can be as per the following:
Fulfillment of task: The Company has a significant hazard that they have to finish the venture
inside a half year as it were. Also, to finish this venture on time they have to make things done at
a specific time scale as it were. They have to work as indicated by their timetables just and needs
to remain upon them carefully. In the event that they neglect to remain upon the equivalent, at
that point they may have the dread to lose the task cutoff time which isn't considered as
something worth being thankful for (Padalkar and Gopinath, 2016). As this would put a
significant effect upon the notoriety and working of the task chief and friends.
Specialized dangers: The specialized hazard is worry with the dangers which are connected
with the innovation. There can be different sorts of innovative dangers which a task can be
related with. There can be any sort of specialized issue that might have the option to happen
during the venture. Specialized issue can be because of any factor, it can because of some ill-
advised wiring, some shorting, battery issue and such. On the off chance that any of the
specialized factor has not set at the ideal spot and in a right manner then it may make issue into
its working. In this manner this can be a gigantic hazard for the organization.
Monetary hazard: It is additionally a sort of hazard in which the spending which is related with
the hazard ought not to get surpass to that. Here in this task the all out financial plan is of 50,000
Euro. The organization needs to done this entire task inside that sum as it were. However, cost
can get increment because of numerous components and it is ordinary. The organization has a
hazard that whether the expense related ought not get expanded to the expressed financial plan.

Furthermore, to not occur that, the organization is checking and watching all the exercises and its
relative expenses.
Market risk: Market risk includes any increase in the prices of land or resources which needs in
completion of the project may cause the difficulty for the project manager. Therefore it is very
necessary to have a keen observation upon the market and the relative issues.
Time taken in project
Time alludes to the all out time length which this specific task would going to take for its
opposition. The organization or the task chief needs to finish this undertaking inside the time
extent of a half year. The organization determined this venture time by computing the exercises
which are related with the task and the time taken to play out those exercises (Pollard, 2019). For
legitimate computations the organization needs to play out the work separate structure in which
the exercises are separate or the entire task is separate into little exercises. This split down
additionally includes the time which has been taken by the movement for its fulfillment. What's
more, consolidating constantly taken in playing out those exercises gives the absolute time taken
to finish the task. The ideal opportunity for finishing the venture can get decreased when the
work put into the equivalent get increment. At the point when the man work into a venture
completes expanded then the work additionally gets expanded and the time taken by the task to
get finished would get decreased.
Cost related with the task
The expense is the absolute costs which the undertaking will going to take for its opposition. The
expense for this specific venture which is being chosen by the organization is 50,000 Euros. The
organization needs to perform or finishes its venture and undertaking related exercises inside this
cost as it were (Archibald and Archibald, 2016). The expense has been separated after
assessment of numerous variables, for example, cost for crude materials, cost for work, cost for
introducing the plant, expenses charged by the organization, etc, By examining every one of
these costs the organization has thought of a complete expense for this venture and that is 50,000
Euro. The division for the expense of the venture has being introduced beneath:
factors Cost in Euro
Work cost 15,000
Crude materials costs 25,000
Different charges costs like organization
expenses costs
5,000
All out cost 50,000 Euros

The above dispersion of the expenses has been introduced by the organization and in like manner
they have concocted this specific expense. On the off chance that everything goes as arranged
and at plan, the task can get finished with this expense. Be that as it may, any change which
could be inner or outer can carry variances into the expenses.
Realisation of benefits
The project for opening up the new fast food restaurant into the town has the following
benefits:
Healthy restaurant: The fast food restaurant that would be going to open will serve the healthy
food to their customers. There is a running trend among the customer or the people where they
have become more conscious and aware about their diet and health. The people have now
stopped using the food item which contains the synthetic element in it. They now consider the
food item which is fresh and healthy for their diet (Zwikael, Chih and Meredith, 2018). And to
satisfy these customer needs this project has come up which is providing the healthy and safe
food to the people. As the trend is very much into the market this project has come into the
development, this has also proves to be a benefit for the company which can be realised through
this project.
Profit: The profit which can be gained for this project will be huge. As the concept for providing
the fresh and healthy food to the customers is so new and in demand that there would be an
exceptional profit which can be anticipate through this project.
Excellent services: At the point when you decide to eat at a drive-thru eatery, at that point you
have a desire for recognition with the items that are on the menu. In spite of the fact that there
are some local and worldwide varieties that you will discover with worldwide chains like
McDonald's, you can likewise hope to discover explicit things on the menu at each area. That
implies you realize what your food ought to resemble when served, how it will taste, and what
your costs will be. Drive-through joints frequently work with similar sellers over their whole
chain of eateries, including establishments, so you are basically eating a similar thing. That
implies it tends to be simpler to oversee food sensitivities, costs, and yearning desires.
Complete meal: The benefit for the fast food restaurant would be that, the customer can order
the full meal with the smart choices they want to have into their meal. The restaurant would also
provide the customized food to the customer in whom the customer can narrate the food item
which he wants to take for their meal and the restaurant would provide the same to the
customers. This will also help the restaurant in gaining the competitive advantage to them int9o
this competition.
Increase in growth: As the restaurant is very new in their concept and menu, it is a majority of
chances that these fast food restaurants can again the growth very fast into the market. It is likely
to believe that this project would gain more growth and profit as it is very new and benefits the
customers very much. It is the customer only who get benefit from this concept and so that it can

anticipate that this concept would be very much grow into the market place as it will be very
liked by the customers.
Challenges in project execution
Each undertaking experiences a few difficulties which it accepts to get overcome. This
task additionally has a few difficulties which are as per the following:
Time: The time taken by the undertaking to get total ought to be inside the given timeframe. The
test to get the undertaking finished inside a half year. Time bound is a test for each venture. Any
misconception or disarray into the work or any sort of deferral into the work may result into
delay in finish of work.
Poor characterize objectives and targets: The destinations and the objectives for the undertaking
on the off chance that not are plainly characterized, at that point it may have the option to make
an obstacles for the venture supervisor (Frijns, Van Leeuwen and Bierwolf, 2017). Ambiguous
objectives and targets make disarray and strife among the individuals which may result into
disappointment in accomplishing the objectives.
Inadequate group aptitudes: When the abilities which are controlled by the labourers are
wasteful, it causes the harms into the task. The work performed by a gifted specialist and an
incompetent labourer has a distinction. Talented labourer would play out crafted by best quality
into the venture and where the nature of work performed by incompetent specialist isn't
sufficient.
Hazard the board: There are different dangers which are related with the undertaking. Hazard can
be the executive’s chance, asset chance, work dangers, planning danger and substantially more.
These dangers are assessed by the undertaking administrator and an appropriate hazard register is
made up which contain the moves which can be made by the organization to decrease or kill the
dangers. Hazard can be both sure and dubious. In specific dangers the rate alongside the sort and
impact gets effectively determined by the organization. Be that as it may, in dubious hazard the
hazard which is looked by the organization is questionable as they have not suspected of that yet.
CONCLUSION
From the report talks about over, a task is attempted by the organization for introducing a
fast food restaurant framework has been referenced. In a venture there are different investor
concerns which are returns, one theory, formation of intensity and so on has referenced. There
are many hazards through which a task experiences a portion of these dangers incorporates
booking dangers, work dangers, time dangers, assets chance and the so on. Aside from this the
report likewise incorporates the idea for time, costs, different difficulties through which the
undertaking experienced.

REFERENCES
Books and Journals
Owusu, E. K., Chan, A. P. and Shan, M., 2019. Causal factors of corruption in construction
project management: An overview.Science and engineering ethics. 25(1). pp.1-31.
Cicmil, S. and Gaggiotti, H., 2018. Responsible forms of project management education:
Theoretical plurality and reflective pedagogies. International Journal of Project
Management. 36(1). pp.208-218.
Padalkar, M. and Gopinath, S., 2016. Are complexity and uncertainty distinct concepts in project
management? A taxonomical examination from literature. International Journal of
Project Management, 34(4), pp.688-700.
Pollard, C. E., 2019. Lessons learned from client projects in an undergraduate project
management course. Journal of Information Systems Education. 23(3). p.3.
Archibald, R. D. and Archibald, S., 2016. Leading and Managing Innovation: What Every
Executive Team Must Know about Project, Program, and Portfolio Management. CRC
Press.
Zwikael, O., Chih, Y. Y. and Meredith, J. R., 2018. Project benefit management: Setting
effective target benefits.International Journal of Project Management. 36(4). pp.650-
658.
Frijns, P., Van Leeuwen, F. and Bierwolf, R., 2017, June. Project management-a more balanced
approach. In 2017 IEEE Technology & Engineering Management Conference
(TEMSCON) (pp. 234-238). IEEE.