InterActive BSc Business Management BSc Financial Management Module PRO 3090 (Year 3, BSc BM & BSc FM), Project Management Assignment Title Feasibility Study Assignment Type Individual Assignments Word Limit 1200 words Weighting 35% Issue Date 24th May 2016 Feasibility Study Submission Date 21st June 2016 Issued by (Assessor) Andrea Luoma Internal Verifier Christopher John Jasko Plagiarism When submitting work for assessment, students should be aware of the InterActive guidance and regulations concerning plagiarism. All submissions should be your own, original work. You must submit an electronic copy of your work. Your submission will be electronically checked. Harvard Referencing The Harvard Referencing System must be used. The Wikipedia website or other non-peer reviewed sources must not be referenced in your work. Learning Outcomes 1. Discuss and explain the fundamental concepts of project management and the tasks required in managing a project. 2. Outline the project process and evaluate projects, preparing and analysing project budgets. 3. Identify and apply project management tools in scheduling; understand and plan basic resource allocation. 4. Be able to report on a project's progress; design and prepare closure evaluation and reports. Marking Criteria Undergraduate Marking Criteria for this assignment is available at the end of this document. Your Task A portion of the coursework for this final module includes a final project that will require the use of project management software. This project can be completed using the software listed below. You will need to download the below resource by following the provided link: Microsoft Project (60-day free trial – click "Try" at the top of the page) http://office.microsoft.com/project Instructions to Candidates First Assignment: Feasibility Study 35% of course mark 1,200 word assignment Final Assignment: Project Management for a new business in India 65% of course mark 3,000 word assignment The purpose of the final project is to apply the concepts and techniques learned throughout the Project Management programme and final capstone module to the analysis of a statement of work (SOW), work breakdown structure (WBS), project network diagram and Gantt chart. FINAL PROJECT Your project for the course will be to develop a plan using the concepts of project management for starting a new small or mid-sized business of your choice in India. The purpose of the group project is to give you the opportunity to plan all aspects of a new project through a comprehensive outline plan, and to organize, coordinate and evaluate all the necessary activities. You must decide what type of business to start, develop performance objectives/goals, determine personnel needs, determine resource requirements, prepare and analyse the project budget (for start-up activities and for annual ongoing operations), develop an implementation schedule through the use of project management tools, develop annual revenue and profit projections for five years, and conduct a risk analysis. This project will require a substantial amount of research effort in planning for the new business. You will need to develop cost estimates for personnel, plan basic resource allocation, coordinate facilities/equipment/other resources, and any services needed. You will need to determine realistic time frames and duration estimates for the various start-up activities. Some of this information may be available from the Internet, while you may need to contact vendors, industry associations, or other organizations for other information. (Best guess estimates may be used for some costs if no other cost information is easily obtainable, but these estimates should be as realistic as possible. Location of where your cost information is from should be in your references.) After you have decided what type of new business to plan for, you will need to decide what tasks will need to be accomplished for your project. As well identify key areas on which to report on the project's progress. In the appendix of your project report, you should include a Gantt chart showing your different tasks required in accomplishing the project and a schedule for these tasks. Finally, design and prepare closure evaluation and reports for the project. The target reader for your project report will be potential investors in your new company. Your project will be created first as a feasibility study worth 35% of your course marks and a Project Management Plan worth 65% of your course marks. First Deliverable (35%) Feasibility Study Feasibility Study. Remember, this is just a draft to get you going on the way to the final Project Management Plan. Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained. Generally, feasibility studies precede technical development and project implementation. A feasibility study evaluates the project's potential for success and is an unbiased approach to provide information upon which decisions can be based. Create a title page. 5 points  Include the name of your company, title of the project and key members of your organization on the title page. Project overview. 10 points  The project proposal begins with an overview, which is a summary of the project.  It does not include specific aspects or details of the proposal but should paint an overall picture of what is contained within the proposal.  The project overview is commonly written last, although it is included as the first section of the proposal. The project overview should tie the entire proposal together and often times writing it last works much better to accomplish this.  The overview is what creates an impression in the mind of the reader, so it is important that it is written strongly. Statement of the problem. 5 points  This section of the proposal begins discussing the problem that is being solved through this project.  Use this section also to prove that this project is definitely needed and therefore funding should be approved.  Outline the scope of the project  Write a short introduction describing the project.  This introduction should include a brief description of the project, the stakeholders, and the time line. Define and write the project goals and objectives. 10 points  Create goals that are attainable and objectives that are measurable.  This includes a timeline and milestones throughout the life of the project. Define and write the project deliverables. 15 points  These are physical deliverables that are defined based on the project goals.  Each goal should produce a set of deliverables. Create a work breakdown structure. 15 points  This is one of the most important components when writing a project plan.  A work breakdown structure describes each task involved in meeting goals and producing deliverables.  You should attach a timeline, usually described in hours, to each task along with someone responsible for completing the task.  It is good practice to include a list of deliverables attached to each task. Key personnel and resources. 10 points  This section of the project proposal is used to list all key people that will be a part of the project.  This also shows that the organization has planned thoroughly and has the necessary resources to complete the project successfully.  Describe each team member and their role in the project.  Include other resources that will be necessary to complete the project, such as any equipment needed. Budget. 15 points  Determine and write up a budget for the project if funds are needed to complete the project.  Be sure to include a detailed explanation describing why you are requesting the funds.  Be as realistic as possible. If the funding is not high enough, the project may not be successful because of lack of funds. Risks: 15 points  Conduct a risk analysis of important potential factors/events that might negatively affect the implementation and operation of the new business.  What are some of the key issues of which to be aware when starting a business in India? (LO1,2,3,4) Guidelines Please read all questions and information provided carefully. Answer should be made in appropriate length keeping in view the requirement of each question and total word counts allowed. In addition, your assignment should demonstrate the following qualities: A critical appreciation of relevant literature and its use to support argument, substantiate calculations and other aspects of the assignment. Taking ownership of the content, being prepared to debate and argue a personal position, and providing evidence of evaluative skills. A submission made up of extracts from published sources that is descriptive or simply just theoretical regurgitation is not acceptable. Your submission must have interpretation and consideration of the challenges and issues of taking theory into practice. Logical flow of ideas and treatment; appropriate selection of real world factors related to the companies under scrutiny. Evidence of additional personal research, and the ability to analyse material from a variety of appropriate relevant perspectives. Presentation, structure, appropriateness of methodology, breaking into section headings/subheadings, tidiness. Marks will be awarded for proper referencing and originality of work. Also note that plagiarism is a serious offence and your submission will be electronically checked. Your report must be handed in electronically no later than given date of submission. Marking Criteria 70-100 Distinction (A+/A) 60-69 Merit (B+/B) 50-59 Pass (C/D) 0-49 Fail (E/F) All learning outcomes / assessment criteria have been achieved to a high standard, and the majority of criteria at an exceptionally high level All learning outcomes/ assessment criteria have been met fully at a good or very good standard All learning outcomes/ assessment criteria have been met and some may have been achieved at a good standard. One or more of the learning outcomes/ assessment criteria have not been met An outstanding/excellent response to the task. The work demonstrates most or all of the following characteristics in relation to those expected at the given level of study within the discipline:  In-depth understanding, exploration, insight and/or research  All specifications for the assessment task, including word limit/time limit where appropriate, have been adhered to  The organisation, structure and standard of presentation of the work, including referencing are excellent/exempl ary throughout  The work has been approached and/or executed/perfor med in an original way  Inspirational, innovative and authoritative - insightful contextualisation including relevant theory / A good to very good response to the task. The work demonstrates most or all of the following characteristics in relation to those expected at the given level of study within the discipline:  Good to very good understanding and exploration, some insight and/or thorough research  No significant inaccuracies, misunderstanding s or errors  The specifications for the assessment task, including word limit/time limit where appropriate, have been adhered to  The work is well organised, coherent and the standard of presentation, including referencing where appropriate, is above average  The work has been approached and/or executed/perform ed in a comprehensive and appropriate way A sound, competent response to the task. The work demonstrates most or all of the following characteristics in relation to those expected at the given level of study within the discipline:  Sound understanding and exploration, some insight and/or appropriate research  No significant inaccuracies and/or misunderstandin gs  No significant aberrations from the specifications for the assessment task, including word limit/time limit where appropriate  The work is suitably organized and the standard of presentation, including referencing where appropriate, is at a fair quality  The work has been approached and/or executed/perfor An unsatisfactory response to the task. The work may display some strengths but these are outweighed by several weak features in relation to the expectations for the given level of study within the discipline, such as:  Limited or no understanding and/or exploration of major ideas with very little insight and/or minimal research  Some significant inaccuracies and/or misunderstandin gs  Insufficient attention to the assessment criteria and some significant aberrations from the specifications for the assessment task  The work is too descriptive, parts of the work are disorganised and unclear and the standard of presentation, including referencing where literature/ artifacts/ performance  Evidence of high to very high quality analysis, synthesis, evaluation and critical appraisal  Demonstrates high to very high levels of initiative, personal responsibility, decision-making and achievement  Appropriate contextualisation, including relevant theory/ literature/ artifacts/performa nce  Evidence of high quality analysis, synthesis, evaluation and critical appraisal  Demonstrates good levels of initiative, personal responsibility, decision-making and achievement med in a standard way  Sound analysis, synthesis, evaluation and critical appraisal  Demonstrates some levels of initiative, personal responsibility, decision-making and achievement appropriate, is poor  The work has been approached and/or executed/perfor med in a poor way  Insufficient or no evidence of analysis, synthesis, evaluation and critical appraisal  Little or no evidence of initiative, personal responsibility, decision-making and achievement