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Project Management: How Long Will the Project Take?

You currently work for a retail store that carries basic household goods, some groceries and health and beauty products. The store is located in a small community (approximately 5,000 total residents) in which you live and is looking to expand its operations in some way. For this assignment, you are required to develop a major project proposal to be undertaken by your employer. You may decide to expand your product offerings or open an additional store in an adjacent community for example.

I need help with the following:

My goal definition.

My objective definition: how will I quantify the savings or benefits from completing the project. How much will it cost, hours material, methods, ect. How long will the project take?

Identifying the resources necessary to complete the project

The risk analysis.

Solution Preview

Defining your goal.

In order to properly address this part of the assignment, you need to view the organization in the aggregate:

- Your organization has a loosely defined goal: expand operations. In other terms, the goal of the project is to increase revenue and increase profits. Your goal is defining how this can be accomplished by considering all the factors that can have an impact, thus, facilitating decision-making processes.

- Your task is to formulate a project that provides analysis of the current market demographics. Who is being targeted and why? The market only has about 5000 residents, so detail will be necessary in identifying what is defining the demographics and whether there are any gaps in the market that can be fulfilled. For example, out of the 5000 residents, there are 2000 car owners. Do these car owners have to drive out of town to purchase windshield fluid? If so, can your retail company supply the windshield fluid to them instead? How many of the residents have pets? Where do they purchase their pet food? Again, can you store supply it if you do not already? Your project goal is identifying all potential gaps in the market that can be filled by the retail store presenting them in a clear manner. Data can be gathered through various mediums, such as surveys, interviews, and questionnaires.

Quantifying the savings or benefits from completing the project.

This component involves ...

Solution Summary

The solution discusses how long will the project take.