Business Finance
NYU Chinese Food Enterprise Project Management Budget Subsidiary Plan Discussion

New York University

Question Description

Need help with my Management question - I’m studying for my class.

A project budget is needed to control and document project expenses before the project work begins. In the initiation phase of the project, a high level estimate is needed on the cost of the project and the potential return-on-investment for the project. After the project has been approved, or approved based on the financial obligations, this preliminary estimate, must be refined in detail, to project the expected costs of the project, and be able to assess the potential values that it will add to the organization.

Note: Introduction and Purpose section of the subsidiary must be used to explain, in your words, the purpose of the respective project management subsidiary plan. This will be an opportunity for you to explain your understanding of each of respective knowledge domain.

An ‘exemplary’ score (2.25-2.50 points) will reflect a foundational understanding of the knowledge domain and how it integrates with your specific project in the portfolio business case. This must include the exact format requirements, it must follow the instructional guidelines, and it must align with your specific project. Errors with format, or lack of compliance with the requirements, or a mis-aligned with the content of your project will result in a loss of points. An ‘effective’ score (2.00-2.24 points) will reflect a basic understanding of the essential components of the ‘subsidiary plan.’ Errors with format, or lack of compliance with the requirements, or content not related to the specific [project, will result in a loss of points. An ‘ineffective’ score (0-1.99 points) will reflect a subsidiary plan or artifact that is poorly organized and difficult to read, one that takes the words of the resource template and uses them, one that lacks format exactness and does not follow the requirements, and/or is unrelated to your project in the portfolio.


we are doing a big portfolio project which contains 5 individual small projects. my responsible part is the marketing.

please making sure your work in the introduction and budget management are actually related to the project!!!!!!!!!!!!!!!!!!!!!! not just super broad concepts


Unformatted Attachment Preview

Enterprise Project Management MSPM1-GC4000 Edward Kleinert The Project Budget Plan The Project Title The Organization Name or Business Unit Name or Department Name The Project Solution Authors Name: Date: Student Name: Course Name: Course ID Number: Team Name and Number: Date: 1 Enterprise Project Management MSPM1-GC4000 Edward Kleinert Introduction and Purpose Budget Management The Project Budget Plan 1. 2. 3. 4. 5. 6. 7. Refer to your high-level budget from the Initiate Stage Refer to budget information for similar projects (If applicable) Identify the detailed labor costs associated with the project tasks Identify the detailed material costs Identify any ongoing operating costs Identify any other specific costs Build in a contingency by assessing the probability of exceeding those costs The Preliminary Budget Preliminary Budget Estimate Estimated Category Cost Wages and Salary Materials and Supplies Equipment and/or Hardware Software and Services Travel and Training Consultants Other Total 0 2 Percent of Total 0 Enterprise Project Management MSPM1-GC4000 Edward Kleinert Approvals Prepared by __________________________________ Project Manager Approved by__________________________________ Project Sponsor ___________________________________ Executive Sponsor 3 Enterprise Project Management MSPM1-GC4000 Edward Kleinert Preliminary Budget Estimate Estimated Cost Category Wages and Salary Materials and Supplies Equipment and/or Hardware Software and Services Travel and Training Consultants Other Total Percent of Total 0 0 1 The Team Contract Enterprise Project Management MSPM1-GC4000 Edward Kleinert Project Title: Expanding Market in Shanghai, China Project Team Number: 3 Organization Name: Whole Food China EPM Team Project Date: 01/29/2020 Project Team Members: Name: Signature: Date: Margaret Wang Margaret Wang 01/29/20 20 Chenchen Liu Chenchen Liu 01/29/20 20 Ivana Ou Ivana Ou 02/01/20 20 Siyuan Liu Siyuan Liu 02/02/20 20 Iris Luo Iris Luo 02/02/20 Communication (We will): ● Schedule weekly meetings for progress updates. ● Build a WeChat group chat. ● Schedule meetings to practice the presentations. ● Create documents in Google Drive that are shared with all members. Participation (We will): ● Ensure balanced participation. ● Open to all new ideas. ● Provide the opportunity for equal participation. ● All members should participate during presentation practice. ● Encourage a diversity of opinions on all topics. 1 Meeting Guidelines (We will): ● Meet in person only upon team member’s request. ● Hold online meetings if necessary. ● Notice team members in advance if there are any cancelations or delays. ● Show up on time and come prepared. ● Listen with an open mind. Problem Solving (We will): ● Bring in outside experts when necessary. ● Analyze the situation to identify and understand the problem. ● Communicate with group members on time and find the issue. ● Ask the professor and reading the problem carefully. ● Do online research and reading related problems. Code of Conduct (We will): ● Focus on what is best for the team. ● Report updated work progress to all team members on time every week. ● Encourage openness and fairness. ● Demonstrate trust and collaboration. ● Provide constructive criticism without personal judging. ● Participate equally. 2 Team Name: Team 3 Team Member Names: Margaret Wang, Chenchen Liu, Ivana Ou, Siyuan Liu, Iris Luo Course Name: Enterprise Project Management Course ID Number: MSPM1-GC4000 Date: 02/10/2020 Project Portfolio Proposal for [Whole Foods in China] 1 The Organization Overview Whole Foods Market Inc., as a multinational supermarket chain, is headquartered in Austin, Texas. The company sells organic food and is free from chemically manufactured products. We have an unshakeable commitment to support sustainable agriculture and maintain the strictest quality of food. Summary of the Proposed Portfolio Whole Foods in China Project was selected because of the increasing needs of organic food in China and Whole Foods Market Inc. is one of the most successful certified organic grocery stores. As one of the most innovative cities in Asia, a new concept of living style can be easily adopted and would be a perfect opportunity to enter and explore the market of Asia. The portfolio of Whole Foods China includes a supply chain project, marketing project, human resource project, App development project and construction, each part is aligned with each other to make the best use of limited resources, and building balance between projects. The Portfolio of Projects Project 1: Whole Foods Supply Chain (Chenchen Liu) Supply chain is a necessary project to contribute to Whole Foods expanding to China. An effective supply chain enables Whole Foods to provide high-quality products and services efficiently and cost-effectively for customers. The success of wholefoods expands in China will inevitably require the supply chain to provide fast, agile and efficient collaboration for the master project and to respond for customer needs and provide 2 consumer satisfaction. We will use four types of decentralized supply chain models for Whole Foods expanding to Shanghai China. Project 2: Whole Foods Marketing (Margaret Wang) The goal of the project includes having Whole Foods available in the Chinese market. Shanghai is our first location in China. We are using both traditional and online advertising to promote the ideology and philosophy of our company and brand, that we dedicated to bring the most healthy, fresh, and qualified lifestyle towards our customers. Project 3: Whole Foods Human Resources (Ivana Ou) A new group of administrative staff and other department staff will be hired to only serve Whole Foods China. Deliverables for this project are 1) Complete all hiring all staff from all different departments. 2)All recruiting processes for administrative staff needs to be done a year prior to store opening, for store clerks needs to be done 3 months prior to store opening. 3)Hire staff with only a positive attitude towards customers and will be able to work as a team. Project 4: App Development Project (Siyuan Liu) The scope of the project is to develop a mobile app that is able to support online shopping, exclusive coupon releasing and same-day delivery service for the users. Deliverables include user login system, search system, wholefoods app databases, user Information databases, UX/UI design, purchase/carting system, order tracking system, quality assurance for further maintenance by forming a small team that can provide technical support and customer service. 3 Project 5: Construction (Iris Luo) The company needs to find a place to keep our inventory fresh and a store in the best location to improve our customer’s shopping experience. We will request land to build a warehouse from the local government/rent storage, lease rental place for store opening, sign a construction company, design the store. Critical Success Factors (CSF) The following factors lead to the success of the project: having creative marketing skills, comprehensive planning, excellent communication, detailed quality assurance and risk management process, and a secure project closure. We will measure the success by measuring the capacity and the safety of the warehouse; demographics of the chosen store location, monthly profit and customers' feedback. ● A detail-oriented project management plan will promote the success of the project, which helps everyone have a clear idea of deliverables of the portfolio. ● Daily updates and weekly reports to all members who are related to the project are critical which give close updates and help the members adapting to any changes quickly and on time. ● Clearly work and assignments distribution spreadsheets are shared with every team member that responsibilities and areas of knowledge are clearly defined. ● Conduct several alternatives and contingency plans in order to respond to unexpected changes quickly. 4 ● Build close relationships with the local government and vendors to utilize local resources. 5 ...
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Final Answer

Attached.

Project Budget Plan
Expences
Wages and Salary

Description

Executive staff

Director/ Manager

Administrative staff

Assistant Manager/supervisor

5%

$5,000

Staff Members

Employees

16%

$16,000

28%

$28,000

Percentage Cost

Amount $

0.20%

$200

Security

0.35%

$350

Sub-total

0.55%

$550

Percentage Cost

Amount $

0.10%

$100

Sub - total

Materials and Supplies

Description

Meetings

Group meetings venue

Percentage Cost

Amount $

7%

$7,000

Equipment and/or Hardware

Description

Books

Refence & writing books

Office

Area of operation

2%

$2,000

Furniture

Desks, Seats & shelves

2%

$2,000

office equipment

Printers, scanners & stationary

0.90%

$900

computers

Hardwars

1.20%

$1,200

Projectors

Products

0.70%

$700

6.90%

$6,900

Percentage Cost

Amount $

1%

$1,000

Sub-total

Software and Services

Description

Operating systems

Licenced softwares

Internet

Internet Connections

0.09%

$90

Operating Licence

Legal fees

0.30%

$300

Hardwares

1.20%

$1,200

2.59%

$2,590

Percentage Cost

Amount $

0.50%

$500

20%

$20,000

Sub-total

Marketing/Communications

Description

Graphic Design/printing

posters, flyers, program

Advertisements

print or television advertisements

Mailing expenses

envelopes, postage

Internet Marketing

Social media platfroms

Sub-total

0.20%

$200

2%

$2,000

22.70%

$22,700

Percentage Cost

Amount $

Travel and Training

Description

Transport

Accesibility & mobility

2%

$2,000

Orientation

Teaching and training people

5%

$5,000

7%

$7,000

Sub-total

Consultants

Description

Percentage Cost

Amount $

Staff Training

Orientation on job tasks

10%

$10,000

Colaborating

Learning Marketing experts

5%

$5,000

Outsourcing

getting valid information

2%

$2,000

Travel

Transport & Accomodations

Sub-total

1.50%

$1,500

18.50%

$18,500

P...

Miss_Dulcet (10170)
New York University

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