Project Plan: International Joint Venture Risk Management - HND

This project plan, developed for a business course at David Game College, focuses on analyzing the risks and benefits associated with joint ventures in international markets. It outlines the project's aims and objectives, which include identifying risks, understanding business benefits, and recommending risk mitigation strategies. The plan details the project's scope, resource and cost considerations, and a schedule represented by a Gantt chart. A risk register is included to assess the severity and probability of identified risks, such as survey issues, budget constraints, and resource unavailability. The plan concludes by emphasizing the importance of the research in understanding the complexities of joint ventures and providing a framework for managing potential risks. The report uses both primary and secondary data to support its analysis.

Running head: PROJECT PLAN
Project Plan
Name of Student
Name of University
Author Note

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PROJECT PLAN
Table of Contents
Task 1: Project Plan.............................................................................................................2
1. Introduction......................................................................................................................2
2. Aim and Objectives.........................................................................................................2
3. Scope and limitations.......................................................................................................2
3.1. Project Scope............................................................................................................3
4. Resources and Cost Considerations.................................................................................3
5. Schedule Gantt chart........................................................................................................4
6. Risk Register and the main Risks....................................................................................5
7. Conclusion.......................................................................................................................7
Bibliography........................................................................................................................9

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PROJECT PLAN
Task 1: Project Plan
1. Introduction
The research aims in analysing the risks and the benefits of joint venture in entering
international markets. This topic is chosen mainly because it is quite common for the business
organizations to embark on a joint venture and enter in international market. The report will be
analysing the risks and issues of the same which will help in easier management of the identified
risks.
2. Aim and Objectives
The research distinctly aims in understanding and identification of the risks and issues
associated with joint international business. A research has been undertaken in order to identify
and analyse the major risks and issues associated with a joint venture targeting an international
market. The risks that will be analysed in this research will help in better understanding of the
risk mitigation approaches as well. The primary objectives of this research are as follows-
 To identify the risks associated with a joint venture in business to enter into an
international market
 To identify the business benefits of a joint business venture in entering
international markets
 To analyse benefits along with the risks of joint business venture
 To recommend strategies for reducing the risks of a joint business venture to enter
markets internationally
3. Scope and limitations

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PROJECT PLAN
3.1. Project Scope
This is an important research project to consider as it analyses the major benefits and
risks of joint venture in business internationally. The project is feasible as both primary and
secondary data will be collected in order to get the details of the major risks and issues in a joint
business. The collection of primary data is linked to the identified research objectives. As a part
of primary data collection, surveys and interview can be conducted.
The in-scope requirement of the research project includes identification and analysis of
the major benefits and the risks of entering into a joint business in international market. It is
within the scope of the research to complete the research project in a successful manner.
However, perception of the research result is not within the scope of the project.
Based on the research data obtained, certain recommendations will be made on the topic
of the major risks, issues and the benefits of entering into international markets in a joint venture.
4. Resources and Cost Considerations
The research will be conducted in an academic level. The resource considerations and the
estimated cost of the resources for this research is indicated in the table below-
Resources Cost
Researcher Travel Cost $500
Interview Cost $600
Survey Cost $100
Internet Cost $800
Books and literatures $200

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PROJECT PLAN
Human resource needs for survey $600
Others $250
Total $3,050
The table above indicates the total cost of this research along with the resources that are
needed in the project. However, certain other resources such as lecturer, supervisor and guide is
not considered in this estimate.
5. Schedule Gantt chart
On basis of the resource needs, a schedule has been developed. The Gantt chart of the
research schedule is indicated in the picture below –

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PROJECT PLAN
Figure 1: Representing the Gantt chart of the research
The research project work breakdown structure is indicated in the figure below-
Research Schedule
Research Inititaion
Topic Selection
Background Study of the
selelcted Topic
Finalization of the Topic
Topic Approval
Planning
Identifctaion of the Aims
and Objectives
Identifictaion of the
Project Scope
Time Estimation of the
Research Project
Development of Project
Plan
Approval of the Project
Plan
Research Execution
Literature Review
Collection of Primary Data
Collection of Secondary
Data
Data Analysis
Documentation
Project Submission
Final crosschecking of the
research documentation
Development of the
Research Report
Final Report Submission
Figure 1: Representing the Work breakdown structure of the research
6. Risk Register and the main Risks
The main risks associated with the proposed research are as follows-
1. Issues in Survey
2. Issues in Interview
3. Budget Issues
4. Constraint schedule
5. Resource unavailability
As a method of assessing the severity and the probability of the identified risk, a risk
matrix is prepared. The risk matrix is indicated in the figure below-

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PROJECT PLAN
ACCEPTABLE TOLERABLE GENERALLY UNACCEPTABLE
NOT LIKELY LOW MEDIUM MEDIUM
POSSIBLE LOW MEDIUM HIGH
PROBABLE MEDIUM HIGH HIGH
SCALE OF SEVERITY
SCALE OF LIKELIHOOD
Figure 2: Risk Matrix
The identified risks are plotted in the risk matrix in the following figure-

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PROJECT PLAN
ACCEPTABLE TOLERABLE
(3) GENERALLY UNACCEPTABLE
NOT LIKELY LOW MEDIUM MEDIUM
POSSIBLE LOW
(5)
MEDIUM
(4)
HIGH
(1)
PROBABLE MEDIUM HIGH
(2) HIGH
SCALE OF SEVERITY
SCALE OF LIKELIHOOD
Figure 2: Risks in the Project plotted in risk matrix
7. Conclusion
The project plan that has been prepared for this project identifies the need of undertaking
this particular research project. The project plan that has been prepared, identifies the aims and
the objectives of the research and evaluates the project scope. The project plan that has been
prepared analyses the in-scope requirements and the out-of scope requirements of the project.
The plan discusses the process of data collection for the research which will be linked with the
research objectives and the research questions. The research questions will be identified in the
later stages of this research project. The research is justified as it will be analysing the various
risks and benefits of a joint venture in international market. The data for the research will be

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PROJECT PLAN
collected from both primary sources and secondary sources. The collected data will be analysed
on basis of research needs and the objectives identified for the research. The research plan
further identifies the cost estimate and the schedule estimate of the project. A risk register is
prepared for identifying the major risks and issues in the project.

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PROJECT PLAN
Bibliography
Hitt, M.A., Li, D. and Xu, K., 2016. International strategy: From local to global and
beyond. Journal of World Business, 51(1), pp.58-73.
Liesch, P.W., Welch, L.S. and Buckley, P.J., 2014. Risk and uncertainty in internationalisation
and international entrepreneurship studies. In The Multinational Enterprise and the Emergence
of the Global Factory (pp. 52-77). Palgrave Macmillan, London.
Perkins, S., Morck, R. and Yeung, B., 2014. Innocents abroad: the hazards of international joint
ventures with pyramidal group firms. Global Strategy Journal, 4(4), pp.310-330.
Sui, S. and Baum, M., 2014. Internationalization strategy, firm resources and the survival of
SMEs in the export market. Journal of International Business Studies, 45(7), pp.821-841.
Wu, J. and Chen, X., 2014. Home country institutional environments and foreign expansion of
emerging market firms. International Business Review, 23(5), pp.862-872.
Yan, A. and Luo, Y., 2016. International Joint Ventures: Theory and Practice: Theory and
Practice. Routledge.