Computer Science
Savannah State University Stakeholder Management Plan Paper

Savannah State University

Question Description

I’m working on a Management question and need guidance to help me study.

You will need to establish a plan on how you will manage your stakeholders of my project charter.

Below, i have attached all documents that you will need to create the stakeholder plan.

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STATEMENT OF WORK 1 STATEMENT OF WORK PROJECT TITLE Improving the Inventory Management System COMPANY NAME Walmart CLIENT PROJECT MANAGER Gabrielle Banks DATE SUBMITTED January 30,2020 PROJECT BEGIN DATE February 1, 2020 END DATE December 21,2021 STATEMENT OF WORK 2 Table of Contents INTRODUCTION .......................................................................................................................... 3 Background ................................................................................................................................. 3 Scope of Work ............................................................................................................................ 3 Objectives ................................................................................................................................... 3 TASKS / ACTIVITIES AND SCHEDULE ................................................................................... 4 BUDGET ........................................................................................................................................ 4 PROJECT REQUIREMENTS ........................................................................................................ 5 Agency Responsibilities.............................................................................................................. 5 Client Responsibilities ................................................................................................................ 5 Mutual Responsibilities .............................................................................................................. 5 STANDARDS AND COMPLIANCE ............................................................................................ 5 Standard Compliance .................................................................................................................. 6 Regulatory Compliance .............................................................................................................. 6 Privacy Adherence ...................................................................................................................... 6 BUSINESS TERMS AND CONDITIONS .................................................................................... 6 Contract Modifications ............................................................................................................... 6 Confidentiality ............................................................................................................................ 6 Termination ................................................................................................................................. 6 AUTHORIZATION ........................................................................................................................ 7 STATEMENT OF WORK 3 INTRODUCTION Walmart is an e-commerce based organization. Being a multinational retail business, effective and efficient inventory management is of critical importance in operational effectiveness. Therefore, Walmart is anticipating on improving its inventory management through the utilization of The SMART system that keeps track of all of its inventory and automatically detect and record products that are low on stock or sold-out. Background Walmart’s Inventory Management system has experienced delays in real-time stock updates and payment as well. This is because the organization’s inventory system serves a large number of customers simultaneously. Customer satisfaction has reduced. As a result, revenue has decreased. Therefore, implementing strategies that improve on these issues is critical. Scope of Work Project work includes the implementation of techniques that aim at improving the effectiveness and efficiency of Walmart’s Inventory Management system. Also, this project comprises of activities, schedule, payment terms, project requirements, standards, and compliance to achieve the project deliverables on time and the stated budget. Objectives OBJECTIVE RATIONALE Walmart’s Inventory Management system has a lag Improve Walmart’s Inventory time that periodically leads to customer issues. The Management System in terms of time system needs to be improved to reduce this lag time stock and payment updates and improve the connection between the cash register and online inventory There is a decrement is customer satisfaction, thus Increase in Revenue thereby leading to a decrease in profit as customers look for alternative companies to avoid similar issues encountered. STATEMENT OF WORK 4 TASKS / ACTIVITIES AND SCHEDULE To achieve the objectives of the project, several tasks shall be completed in on the stated timeline. They are outlined as follows TASK DUE DATE 1 Project Summary 2 Information Gathering 3 Project Stakeholders 4 Project Purpose 5 Estimated Time Three days DELIVERABLE DESCRIPTION This task involves briefing on components of the project Four days Collection of necessary information concerning the issue to be solved. Two days Personnel that support project implementation are identified. Five days A clear purpose of the project is outlined. One day the most important requirements for all Project Overview activities are selected to interpret them and take an efficient decision 6 Project deliverables 7 Project Budget and costs 8 Project Organization Two days Definition of the product or service produced. Four days Financials requirements for the successful implementation of the project. Three days Structure that expedites the harmonization and implementation of project activities. BUDGET Financial resources play a vital role in implementing this project. They will be used in performing the outlined tasks and activities. The total estimated costs for the entire project is outlined as follows: STATEMENT OF WORK 5 Purpose Estimated Costs Budget Source IT Evaluation $1,000,000 Payroll $10,000,000 Revenue Technological Improvements Total Revenue $11, 000,000 PROJECT REQUIREMENTS To ensure the successful completion of this project, all the above tasks and processes must be completed within the estimated timeline and estimated budget. While undertaking the outlined tasks, there are key responsibilities that shall be upheld by both parties; the contractor and the client. Agency Responsibilities The contractor shall provide accurate information concerning the project deliverable. The contractor has the responsibility to update the client of the progress of the project periodically. The Agency is liable for the success or failure of the project. Client Responsibilities The client will provide all the necessary support that is aimed at achieving the project deliverables. Mutual Responsibilities Both parties ought to collaborate while carrying out project tasks. This will be accomplished when both parties play their roles in ensuring the successful completion of the task. STANDARDS AND COMPLIANCE Standards will enhance identification, development, evaluation, dissemination, and provision for applicable morals, codes, guidelines, and regulations that have an impact on process safety. STATEMENT OF WORK 6 Standard Compliance Compliance with the established standards facilitate consistency in implementing process and practices as well as minimizing legal liability. Changes in standards may occur at irregular intervals or on a fixed schedule. Regulatory Compliance While carrying out the project tasks and processes, legal practices shall be maintained by the contractor. Besides, the client, Walmart, will provide the contractor with legal guidelines that ought to have adhered. Privacy Adherence The contractor shall uphold the privacy of the company. Moreover, the contractor shall not disclose any form of information about the company. BUSINESS TERMS AND CONDITIONS Contract Modifications Modification will be permitted where it is expressly provided for in review clauses set out in the initial Implementation of the Walmart’s Inventory Management System. Review clauses will only provide a specific degree of flexibility of the contract. Therefore, contract modification will not be allowed simply because they were earlier in the Inventory Management System document. Confidentiality The involved parties shall not disclose any form of confidential information unless required by law to a third party without a documented consent of the other party. Both parties are required to keep the agreed terms and conditions private to each other. Termination If the performance of the contract has exceeded the estimated timeline, and the contract is separable, the client can terminate the contract and offer reasonable compensation. If either party fails to meet its obligations towards achieving the goals of the project, the affected party shall request a contract termination. STATEMENT OF WORK 7 AUTHORIZATION AUTHORIZATION SIGNATURE CLIENT PRINTED NAME DATE SIGNATURE PROVIDER/CONTRACTOR PRINTED NAME DATE Risk Assessment Matrix SCALE OF LIKELIHOOD SCALE OF SEVERITY ACCEPTABLE TOLERABLE GENERALLY UNACCEPTABLE NOT LIKELY LOW MEDIUM MEDIUM POSSIBLE LOW MEDIUM HIGH PROBABLE MEDIUM HIGH HIGH Risk Assessment List RISK AREAS AFFECTED The complete accuracy of this project will be difficult to monitor. This will affect the project as a whole. The contractor does not provide accurate information concerning the projects deliverables This would affect the Projects Deliverables IT department might not be able to determine where the improvements must be made. This can affect the project as a whole QProject will cost more than the proposed budget. This will affect the projects proposed budget. Managemt Team will not work together effectively to ge the job done. The Management Teams SEVERITY LIKELIHOOD RISK IMPACT RECOMMENDED ACTION(S) Tolerable Not likely Medium Supervisors, team members, and managers must continue to monitor the progress of this project. Generally unacceptable Possible High Gather pertinent information from key stakeholders before charging ahead. Generally unacceptable Probable High Ask questions, investigate, and ask real answers from Walmart employees. Acceptable Possible Low Continuously Forecast and meet with buget team on spending and where your project is heading. Acceptable Possible Low communicate,provide valuable feedback, and make sure everone is focused on the goal. SEVERITY Acceptable Tolerable Generally unacceptable LIKELIHOOD Not likely Possible Probable IMPACT Low Medium High Project Charter Date: January 30, 2020 PROJECT CHARTER Improving the Inventory Management System Date: January 30,2020 Version: #2 1 Project Charter Date: January 30, 2020 Project Charter Document History Document Revisions Author Release Reason for Changes Version # Approval Date Gabrielle Banks initial draft Version #2 NOTES:  Signed approval forms are filed in the Management section of the project files.  Drafts should be version numbered “Draft 0.1”, “Draft 0.2”, etc. Accepted Releases should be version numbered “1.X”, “2.X”, etc.  This document requires the following approvals:   Version # Release Date Draft 0.1* Draft 0.2* Summary of Changes (since previous version) Distribution History This document has been distributed to: Name Title Company Distribution Distributed Date Version # NOTES:  This document is only valid on the day it was printed.  The document source is located at , on the project server. 2 Project Charter Date: January 30, 2020 Table of Contents 1. EXECUTIVE SUMMARY 4 2. GENERAL PROJECT INFORMATION 4 3. PROJECT STAKEHOLDERS 4 4. PROJECT PURPOSE 4 5. PROJECT OVERVIEW 6 6. PROJECT REQUIREMENTS & DELIVERABLES 6 7. PROJECT MANAGEMENT MILESTONES & DELIVERABLES 7 8. PROJECT BUDGET & COSTS 7 9. PERSONNEL & OTHER RESOURCES 7 10. PROJECT RISKS 7 11. PROJECT ORGANIZATION 8 12. APPROVAL SIGNATURES 8 3 Project Charter Date: January 30, 2020 1. Executive Summary Walmart Inc.’s inventory management is one of the biggest contributors to the success of the multinational retail business. Considering the mammoth size of the company, effective and efficient inventory management is of critical importance in operational effectiveness. Walmart is known for cutting-edge technological applications for its inventory management aspect of operations. Walmart utilizes The SMART system that keeps track of all of Walmart’s Inventory, the on-hand counts, and can automatically detect and record products that is low on stock or sold-out. Although the utilization of the system has made Walmart the biggest company in the world, there are some are changes that should be implemented within the system to keep Walmart on the map as the multinational retail business. Between customers purchasing items, the cash register, and the SMART system showing product availability, the systems are not linking together. This issue can cause Walmart to lose thousands of dollars in inventory or it may cause shrink in the system if products are not accounted for correctly on a daily base. To make sure that these problems don’t arise, I would propose that Walmart thoroughly investigate the Smart system and determine what is causing the systems to be unequally linked. I believe this project will address all the problems that have been addressed and will also prevent future issues within the systems. 2. General Project Information 0605.1.2020 Project Title: Inventory Management Sponsoring Walmart Organization: Supply Chain and Logistics Project ID: Sponsor Representativ e: Prepared by: Gabrielle Banks Version: 3. Project Stakeholders Position Sponsor Rep Title/Name/Organization Dan Brown, Walmart Inc. Supply Chain & Logistics Terrell Cobbs, Walmart Inc. Phone 912-484-3644 Email danb@walmart.me.com 912-576-9825 tercobb@walmart.me.com Gabrielle Banks, Walmart Inc. Ronald Harvard, Walmart Inc, 912-398-0837 Gbanks2@walmart.me.com 912-235-8976 ronharv@walmart.me.com Assistant Project Manager Daniel Holmes, Walmart Inc. 912-445-0985 danh@walmart.me.com Project Specialist Diana Russell, Walmart Inc. 912-353-0553 dianrus@walmart.me.com Program Manager Project Manager Customer/User Rep 4. Project Purpose The purpose of this project is to find a way to improve Walmart’s Inventory Management system. Although Walmart uses a software system that allows employees to check the availability of products in the system, improvements 4 Project Charter Date: January 30, 2020 must be made to ensure there is complete accuracy. The improvements will also update the time it takes for the inventory to be updated across all platforms. 4.1. Business Issue Walmart’s Inventory Management system has a lag time that periodically leads to customer issues. The system needs to be improved to reduce this lag time and improve the connection between the cash register and online inventory. The minute an item sells it should be removed from the inventory. Informing a customer that an item is in stock that is eventually determined to be unavailable is a frustrating situation. Improving the customer experience leads to increases in revenue. 4.2. Business Objectives Strategic Plan Element Lag Time Accuracy Project Business Objectives Reduce the lag time in inventory management between cash register/ online cart and inventory Improve the accuracy in inventory records, reduce number of inaccurate in stock items 5 Project Charter Date: January 30, 2020 5. Project Overview 5.1. Project Description The focus of this project is on Walmart’s Inventory Management System, with a key focus on improving the customer experience. The first element is reducing the lag time between an item being sold and this item being removed from inventory. The second element is in improving the accuracy of in stock items. If an item is listed as in stock the customer should be able to walk into said store and find that item. The amount of inaccurate in stock items will be reduced. 5.2. Scope The scope of this project is the Walmart Corporation as a whole; improvements in inventory management make the process easier for all involved. Starting with the most important level, the consumer and benefiting all up to the top executives. There will be technological improvements to the inventory management system that strengthen the connection between the cash register/ online cart to the inventory system. When an item is sold whether in person or online it should instantly be removed from the inventory. This lag time posses’ issues with customers coming into stores looking for in stock items but are unable to find them due to mistakes in the inventory management system. A corporation as large as Walmart should have the highest quality system that provides the least amount of mistakes. An issue within inventory that will be addressed is returns, when an item is returned to a store, it should be added back into the inventory once it has been stocked on the shelf. There is a lag time between items being returned and restocked and the items are not easy to find in customer service. This project will improve the in store and online experience. Improving the consumer experience increases the likelihood of the consumer becoming a return customer. 5.3. Assumptions When chartering this project it is assumed that there are minimal issues in inventory management caused by employees and most issues are caused by lack of technological improvements. There are some assumptions though such as: • All items are scanned into inventory when they arrive • All damaged items are removed from inventory • Any promotional items used in inventory are removed from the available items • All items are stocked in the appropriate location • All returned items are stocked in an appropriate time frame • Customers were looking in the appropriate area or asked for help when stated an item was out of stock in stores 5.4. Constraints The complete accuracy of this project will be difficult to monitor over all location. To initially test the project improvements will be made at specific locations and the results will be tracked at these locations before being implemented across the board. There are also financial constraints that limit the amount of money that can be spent on these improvements that may not be cost effective in all locations. There may have to be a separation between online and in store inventory. 6. Project Requirements & Deliverables There will be multiple requirements for this project to be completed effectively and efficiently. The IT department must do a technology assessment to determine where the improvements must be made. Determining whether this is to the cash registers, inventory management system or handheld devices used throughout the corporation. There will also need to be involvement with management at these chosen locations to ensure all is being done on the employees end. Items must be placed in the appropriate location, and not in a random place. The customer must also be willing to ask for help locating an item from an employee who performs an accurate search. 6 Project Charter Date: January 30, 2020 7. Project Management Milestones & Deliverables Milestones/Deliverable Estimated Date August 1st, 2020 August 1st, 2021 December 1st, 2021 December 31st. 2021 IT Evaluation Technology Improvements Inventory Audit Employee Training Responsible Individual(s) IT Department / Management IT Department / Management All employees Management 8. Project Budget & Costs Purpose Amount Budget Source IT Evaluation $1,000,000 Payroll Technological Improvem ...
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Final Answer

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Stakeholders management TASKS RULES
Type of paper essay
Pages 2
Words 410
References 2
Format APA


Running Head: STAKEHOLDERS MANAGEMENT
1

Stakeholders Management
Name
Course
Date

2

STAKEHOLDERS MANAGEMENT
The successful completion of any project depends on the ways that each stakeholder
contributes towards the successful completion of the task in hand as well as an overall
assessment of the areas that may need more attention (Kerzner, 2017). In most cases,
stakeholders in different tasks are assigned various tasks that they need to complete to contribute
towards the success of the involved project. In Walmart, for instance, the stakeholders were
engaged in appropriate tasks, and this had a positive influence in not only improving the quality
of services that they offered but also in reducing the chances of failure. The use of a stakeholder
management matrix was influential in that it assisted in the improvement of the knowledge that
the stakeholders had in reference to the approaches needed to complete different tasks in the
overall project (Boada-Cuerva, Trullen & Valverde, 2019). Using the stakeholder’s management
analysis, it was also possible for the managerial team in this organization to gain more
knowledge regarding some of the areas that the organization needed to improve more in order to
ensure that the significant issues regarding the completion of ...

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UIUC

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