The report gives a basic idea for the development of the business plan and how it can be applied in the organization for better functioning. Therefore, the objective of the report is to clearly articulate the business plans and the cost/benefit along with the responsibilities of the project managers.
Neo Homes is a company currently working in the competitive market. The company sells design for the kitchens where modular kitchens is the objective. The company has been operating effectively in the market and achieving benefits. However, the competitors of the company have deployed new software technology to increase the customer number and to retain them. Neo Homes do not have effective team that can adopt new technology easily. Therefore, the case of Neo Homes is taken to assist it in the dynamic market situation. The implementation of the software technology can be deployed so that it can also manage to increase its productivity. The project manager of the company will strategize a plan so that it can help the company in acquiring better opportunities over time.
The implementation of the software in the company is a tedious process. Therefore, the project manager should make sure that they evaluate the cost/benefit of applying the solution. For example, when the company will implement the technology, the payments can directly made to the account. Apart from them, the company can control its orders and inventories effectively which is not possible with the traditional manual method. If the inventories information is not correct, then it can lead to the company’s loss (Bergseng et al, 2015). These are the benefits that the company will receive. On the other hand, the implementation is not cost effective and a lot of cost incurs. Firstly, the implementation cost because the company will have buy computer and LAN network. Secondly, all the software are open for upgradation therefore, this will lead to additional costs. However, the company will receive better position in the market, more customer number, and the sustainability will also enhance. Therefore, it can be deduced that the benefit is better of implementing over the cost of the product.
The implementation of the software give rise of the benefits that are both tangible and non-tangible. The tangible are the benefits that the company can gain in the form of monetary value after implementing the software. It also includes the number of customers that will increase once the company will have better portfolio. Furthermore, it includes various non-tangible benefits such as value of the company, competitiveness, sustainability and so on. All these benefits are result of effective implementation of the project. However, with benefit comes drawbacks. The major drawback of implementing this software technology is the outflow of cash. The cash outflow occurs because the software are paid, costly, need updates, and they need different infrastructure. Recruitment and training are other drawbacks where cost will incur because new arrangements will require new talents in the organization. Therefore, these are some drawbacks that are associated with the implementation of the project.
Work breakdown structure
For the undertaken business plan, a project charter will be prepared where all the objectives, scopes, risks, etc. will be described. This will help the project manager to take effective decisions that are not prone to failure. The project charter for the business plan will be the following (Littlewood, 2015):
Objective of the project: the objective of the project is to embed technology by implementing the software in the firm. The software will help the company to analyze and react towards the trends of the customers.
Constraints: the major constraints is the workforce. The workforce lacks proper knowledge of the new technology. Therefore, there will be new recruitments for bringing in new talents. Technology itself is a constraint because every now and then there is a new software with better features. Therefore, it becomes difficult to choose the right software for the company.
Main stakeholders: the important stakeholders in this business plan are the customers, employees and the investors. The investors are crucial as they are needed for funding and the customers are required because they mark the profitability and success. The employees of the company are the stakeholders who work for the betterment of the company. The company will have to provide proper training to the employees so that they can learn be more productive by using new technology.
Risks identified: the major risk is the availability of the multiple software for the company. It is difficult to identify the right software at the right cost. If the project manager fails to recognize the right software, it can face loss (Wu, 2019). Another risk is the competition. The competitors in the market are using well established software that can put them in better place over the company.
Benefits of the project: the benefits of the company are that it can increase its profitability. The company can increase the customer number and provide a better value of the money to the customers. The company’s sustainability will also increase in applying this business plan.
Overview of the budget: the budget of the company will be quite high. The company has to train the employees that will include high costs. The implementation of the software will also be costly.
Work breakdown system
The work breakdown system of the company will help the project manager to go along the path effectively. The time constraints in the project makes things complicated. Therefore, if the project is not planned and discussed properly, then the project plan may collapse. Therefore, a work breakdown system is important. The project is divided into four parts that is initiation followed by planning, execution, control and closure (Zecheru and Olaru, 2016). Due to this system, the completion of the project can be assured where all the risks and benefits will be integrated.
A network diagram will show what components are connected to what source. The central connection is shown that will be connected to different appliances. This network will determine the strength of the internet that will be required for the seamless connection (Mantzaris et al, 2019).
Role of the project manager
The role of the project manager is crucial because he is the one that have all the knowledge of the company so that he can suggest better advises to the company. Sometimes the project managers cheat and play tricks with the client companies for their personal benefits. These benefits impact the company negatively and also the ethical values of the manager are questioned. The ethical values include the transparency and visibility of the plan, actions and the decisions taken. The social values of the project manager are those where he has to communicate with different stakeholders to take decisions that are beneficial for the company as well as the customers. The legal responsibilities of the project manager include responsibilities such as following the plan as per the legal obligations. In this way, the project manager can give rise to a qualitied product or plan to the company with which it can gain higher profitability.
Cost benefit analysis and quality assurance
The cost of implementation is high. However, the benefits of the business plan are higher. The size of the project is moderate where it includes recruitment of new employees. The size of workforce is also not huge and three people were enough to take actions for the success of the plan. The effort required is high because the technology establishment is no easy task. Apart from this, the use of Gantt charts, and tools for planning can reduce the estimated effort of the employees. It will reduce the need of manual work. The cost modelling will use an expression to calculate or predict the overall cost of the project and the effort of the workforce (Elassy, 2015). These all factors will improve the life cycle of the project where the cost will be reduced and the benefits will be higher. The process will be seamless as most of the technological and other problems will be sorted prior to start of the project.
It can be concluded that the project is effective only when the cost is lower as compared to the benefits. In the current project plan, the company has greater and long-term benefits over the cost. Thus, the company can successfully implement the plan and can achieve higher customers and can work according to the trends of the customers.
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