MBA642
Project Initiation, Planning and Execution
Executive Summary
In the report, the major light has been shed on project management planning of a business. The organization chosen here is Little Bang Brewery that will move its operation in Canberra. Here, the overview of the project was done along wit its operation and major requirements that are needed for opening business. The major elements and tasks were evaluated that were required to move the Little Bang and its taproom were evaluated. The work breakdown structure helped in evaluating the project activities and the overall schedule was outlined in picture form by Gantt chart. The scheduling flowchart effectively helped in making connection & linking them with the task of the project was done. The risk matrix helped in outlining project risk like transportation, financing, spoilage, etc. The theories like decision making and porter five forces was selected to achieve project aims & objectives efficiently.
Contents
Firm operation and Essential Requirement 5
Action Plan for Little Bang Company 6
Scheduling Flowchart For Little Bang Brewery Company 7
Concepts and theories applied 9
Introduction
Project management in business is considered as the procedure that allows managers to achieve project-specific objectives in relation to project acceptance criteria and settled parameters. There are different stages in project management that help in achieving project aims and objectives in the desired manner. The major purpose of the report is to provide an opportunity to develop an integrated project management plan that meets project objectives and standards (Burke 2013). In this report, it is assumed to open an office in Canberra and the project size, location, requirements will be considered. The chosen project's main task and operation will be highlighted with the help of WBS. The risk raised in the project will also be outlined by highlighting the risk and its impact on the project. Lastly, there will be the use of relevant theories and concepts which support the project.
The Little Bang Brewery company will open its new office in Canberra. It is a Brewery and Taproom located in Stepney. It aims at opening its other outlet in Canberra due to the high demand for its beers.
Overview of the Company
Little Bang Brewery is a local Brewery and tap room located in Stepney. This place brings together like-minded people together for tasting its amazing beers. The company is home brewing together for many years and its name came from Ryan and Fil doing their backyard science. The company has a diverse range of beers, and also sells local wines. The company is open from Wednesday to Sunday and is the best place for people to enjoy their drink with a unique brewery twist. The company is situated in the center location of South Australia. It provides a great beer experience to the party people including the taste of hibiscus brew in their beer (Olajire 2020). Little Bang Brewery company has its online store where it sells its products like beer, wine, and Gin. The company has the section for its local wines, kitchen, small-batch gin, and the regular event including a quiz night, lie music, and exhibitions that make the company the best place to have a drink, host their events, and have fun with new brewery twist. On the official website of the company, its customer can see the upcoming events and book their tickets in advance.
It can be seen that the Little Bang Brewery business is running in a smooth and effective manner and its beer has huge demand all over Australia. The company faces a huge problem at the time of weekends and events as there is only one outlet of the firm in whole Australia. The company is planning to open its other outlet or office in Canberra (Rachwa? et al. 2020).
Firm operation and Essential Requirement
The major operation of Little Bang Brewery comprises filtering, mashing, fermenting, and milling of different beers. The firm operations are available for the whole venue takeovers outside its normal trading hours. The major or essential requirements that will allow Little Bang Brewery to open its office in Canberra are legal requirements, office furniture, and an effective business model to perfectly define the brand in the market. There will be a high need for legal status for the company to settle its business in Canberra as it is an alcohol business and is highly governed by both federal and state levels. The distribution and sale of the goods will be dependent on the laws of the Canberra state. There is a need for the business to adjust its operation according to the culture and legal terms of another place. Little Bange company will also borrow a license for effectively operating its business. The company has to choose the perfect logo that will define the brand and attract more and more customers (Rashid et al. 2013). The location chosen for Canberra should be in the centre where the more customer can reach and there is an increase in firm profits. The company should have high innovation and an effective packaging system which will attract new customers and enhance revenue and sales (Nguyen, Newby and Macaulay, MJ 2015).
Work Breakdown Structure
(Source: Sequeira and Lopes 2015)
Action Plan for Little Bang Company
Activities |
Success Criteria |
Start Date |
End Date |
Total Time |
Initiate the project by defining its goals and choosing the best location |
The project will be led to success by looking at the market value |
10 January 2021 |
24 January 2021 |
2 Weeks |
Make the business plan by setting clear goals, and arranging of funds |
Consider the needs and wants of the company |
25 January, 2021 |
15 February, 2021 |
3 Weeks |
Execute the plan by having a regular update on the plan |
Grab the information and reduce the gap between customer needs and wants. |
16 February, 2021 |
2 March, 2021 |
2 Weeks |
Control the project plan and performance of employees |
Provide effective training and targeting potential customers |
3 March, 2021 |
10 March, 2021 |
1 Week |
Give the closure to project by checking all paper work |
When the project plan aims and objectives are same as planned |
11 March, 2021 |
25 March, 2021 |
2 Weeks |
Gantt Chart
Scheduling Flowchart For Little Bang Brewery Company
Scheduling Flowcharts plays a major role in projects as it graphically helps in displaying different project steps and evaluate the connection among them to make things clear to understand. The schedule flowchart for the company are as follows:
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Risk Assessment Matrix
Risk Assessment Matrix is also known as Severity or Probability risk framework. This framework is highly designed to reduce the risk probability for optimizing the performance of the project. It is very important to have a risk matrix in all project as it allows companies to develop a mitigation strategy (Risti? 2013). There are various risks involved in Little Bang Brewery project and moving its operation in Canberra. In the risk matrix, there are different type of risk evaluated like medium, low and high.
Severity
MEDIUM Financial Risk |
HIGH Huge competition |
HIGH Maintaining high sustainability |
LOW Government restrictions |
MEDIUM Advance Technology |
HIGH Spoilage |
LOW Tap room safety |
LOW Regular Inspection |
MEDIUM Transportation facility |
Likelihood
From the above risk categorization, it can be seen that the low risk, that the Little Bang Company might face in future includes safety of tap room, regular inspection by outsiders, and risk of government restrictions. There is the need to make strategy for reducing these effectively as a small risk can also become severe in a short period of time. The medium category of risk includes risk of arranging finance, availability of transportation facility and risk of rise in new technology (Knutson and Huettel 2015). The company take utmost care of transportation and make sure its goods are provided to customers in quick manner. Lastly, the risk involved in project at high level includes rise in competition, maintaining of sustainability and spoilage. Here the risk for fermentation is very high due to production of wine and beer. The major critical risk that can be included in the little bang brewery company is that it can face losses and instability when there is less demand in the market and rise in stock prices of the goods.
Concepts and theories applied
It is very important for the Little Bang Brewery company to consider different concepts and theories to achieve the project aims and goals in effective manner or way. The company can adopt the Porter five force model to analyse its growth opportunities in market. The porter framework includes the five factors named as Competitors rivalry, threat of substitute, fear of new market entry, buyer power, and supplier power (Cheng 2013).
For enhancing the competition in the market, the company will look for its competitors and know their marketing strategies and practices. The company after analysing its competitors, it will such policies that are different and unique and reduce the gaps of customer needs. This will allow firm to earn huge revenue and profits. Consider the power of its buyers, the manager of little bang company will get to know the exact number of buyers and how huge their order is in the market (Varelas and Georgopoulos 2017). Then the company will make changes accordingly. BY knowing the power of firm supplier, the Little bang can easily hire the supplier who will provide them goods in low rates. The company should make suppliers feel that its operation will rise in future and firm will generate huge order from them. For reducing the risk from its substitutes, the company will get to know the exact needs and demands of its customers and provide its goods in same manner. This will help in raising organization profits and goals in effective manner or way (Cheng 2013). The threat of new entrant is also a common and a major problem. The company will maintain its goods and services in such a manner that its operation and customers do not affected.
The other theory which can be considered by the Little Bang Brewery company is decision making theory. This theory will allow the team members of owner of the company Ryan and Fil to look at the whole concept of opening new office and make planning for the firm. The members will consider the business size, location, team members, targeted customers and many other factors. The company will also consider the requirements for opening the new office like making overall schedule, looking after the risk raised, and take initiative according to Gantt chart made. The decision in the firm will also be made to reduce the risk and have proper control on project activities in desired manner or way (Kochenderfer 2015).
Conclusion
From the above report, it has been summarised that, there is a need to have a proper project management plan in opening a new business or office. Little Bang Brewery will open its office in Canberra. The report effective assessed the project work breakdown structure, flowchart, risk matrix and concept and theories related to the project.
References
Burke, R, 2013, ‘Project management: planning and control techniques’, New Jersey, USA, 26.
Cheng, DS, 2013, ‘Analyze the hotel industry in porter five competitive forces, ‘Journal of Global Business Management, vol. 9, no. 3, p. 52. https://search.proquest.com/openview/09b670899a8f9b724a4a857ee431806d/1.pdf?pq-origsite=gscholar&cbl=406316
Knutson, B, and Huettel, SA, 2015, ‘The risk matrix’, Current Opinion in Behavioral Sciences, vol. 5, pp,141-146. https://www.sciencedirect.com/science/article/pii/S2352154615001382
Kochenderfer, MJ, 2015, ‘Decision making under uncertainty: theory and application’, MIT press. https://books.google.co.in/books?hl=en&lr=&id=hUBWCgAAQBAJ&oi=fnd&pg=PR7&dq=Kochenderfer,+MJ,+2015,+%E2%80%98Decision+making+under+uncertainty:+theory+and+application%E2%80%99,+MIT+press.+&ots=534L3sOUOZ&sig=FUrVFK3S2tJFn_tyaaL5m9HLxaA&redir_esc=y#v=onepage&q=Kochenderfer%2C%20MJ%2C%202015%2C%20%E2%80%98Decision%20making%20under%20uncertainty%3A%20theory%20and%20application%E2%80%99%2C%20MIT%20press.&f=false
Nguyen, TH, Newby, M, and Macaulay, MJ, 2015, ‘Information technology adoption in small business: Confirmation of a proposed framework’, Journal of Small Business Management, vol. 53, no. 1, pp,207-227. https://www.tandfonline.com/doi/full/10.1111/jsbm.12058?scroll=top&needAccess=true
Olajire, AA, 2020, ‘The brewing industry and environmental challenges’, Journal of Cleaner Production, vol. 256, pp,102817. https://www.sciencedirect.com/science/article/abs/pii/S0959652612001369
Rachwa?, K, Wa?ko, A, Gustaw, K. and Polak-Berecka, M, 2020, ‘Utilization of brewery wastes in food industry’, PeerJ, vol. 8, p.e9427. https://doi.org/10.7717/peerj.9427
Rashid, A, Asif, FM, Krajnik, P, and Nicolescu, CM, 2013, ‘Resource conservative manufacturing: An essential change in business and technology paradigm for sustainable manufacturing’, Journal of Cleaner production, vol. 57, pp,166-177. https://www.sciencedirect.com/science/article/abs/pii/S0959652613003934
Risti?, D, 2013, ‘A tool for risk assessment’, safety Engineering, vol. 3, no. 7, p, 2017. https://www.znrfak.ni.ac.rs/Se-Journal/Archive/SE-WEB%20Journal%20-%20Vol3-3/pdf/3.pdf
Sequeira, S, and Lopes, E, 2015, ‘Simple method proposal for cost estimation from work breakdown structure’, Procedia Computer Science, vol. 64, pp,537-544. https://www.sciencedirect.com/science/article/pii/S1877050915026940
Varelas, S. and Georgopoulos, N, 2017, ‘Porter’s competitive forces in the modern globalized hospitality sector–the case of a Greek tourism destination’, J Tour Res, vol. 18, pp.121-131. http://jotr.eu/images/T18/T-18.pdf#page=122
