Business Finance
PM586 University of Phoenix Coca Cola Company Project Plan Paper


University of Phoenix

Question Description

“Private Questions & Study Emergency” Project Plan Part 3

Signature Assignment: Project Plan Part 3 (Please no Plagiarism)

Continue: developing the comprehensive project proposal outline.

Develop: the strategies used to execute the project.

Write a 1,050- to 1,400-word project plan summarizing your strategies.

Include the following within the project plan:

  • Strategies for management of human, physical, and financial resources, including the following:
    • Temporary resources
    • Permanent resources
  • Work plan management (deliverables management)
  • Quality assurance strategies
  • Communication strategies
  • Documentation management strategies
  • Change request management strategies
  • Contingency plans

Determine the strategies used to monitor the project.

Address the following when determining your monitoring strategy:

  • Schedule
  • Budget
  • Critical path
  • Resource levels
  • Change requests
  • Scope creep

Add Charts or Diagrams if you need to.

Unformatted Attachment Preview

Running head: PROJECT PLAN PART 2 1 Project Plan Part 2 PM/586 (This is a sample paper for you to use, and please follow this exact format. No Plagiarism Please. Also must include Tables and Charts) PROJECT PLAN PART 2 2 Project Plan Part 2 This portion of the project plan will define the process used to develop the project budget and risk management plan for 1-800-FLOWERS. The budget will include labor and capital costs along with contingency reserves necessary to ensure project success. The resources essential to see the project through to fruition will also be discussed. Both internal and external risks will be identified along with their impact and probability of impact to the project. These risks will define the amount of contingency reserves necessary to be included in the budget. Finally, alignment between the scope, schedule, and labor/capital budget will be displayed for an at-a-glance understanding of how the funds apply to the project at a high level. Available Resources The resources selected to participate in this project are the minimum resources required to see it to fruition. Resource leveling was used to produce a resource-limited schedule which lengthened the timeline so as not to over allocate the necessary resources. If additional budget was to be granted for this project, more trainers would be selected to help build an active training program faster. The Business Analyst selected for this project will be a third party contract resource who specializes in the tools and techniques necessary to hire personnel that fit the desired mold of the company. This person will have their finger on the pulse of competitor strategies that will aid in benchmarking practices on a global scale. The business analyst will also help to analyze current practices, suggest modifications to those processes, and develop a new hiring and onboarding system. The 1-800-FLOWERS Human Resource Manager will be involved in the project throughout its lifecycle. This person will ensure that all newly developed policies and procedures PROJECT PLAN PART 2 3 fit within the overall project objective, to maximize employee performance through engagement. They will be well trained and versed in the project as they will be responsible for overseeing this project after closure. The Operational Excellence Manager will also be involved in the project throughout the project lifecycle. This individual will retain focus on creating a positive and empowered workforce through identifying ideal candidates to fill positions at 1-800-FLOWERS. This person will also help to define the continuous improvement plan to ensure that the hiring process maintains current and best-known practices after completion of the project. The two senior trainers selected to participate in this project will be heavily involved in developing the onboarding training process for new employees. They will also obtain special training which will allow them the ability to lead The Oz Principle training courses for all new hires. This training will also provide these two individuals with the ability to train new trainers to strengthen the training pool of colleagues. The trainers will be involved to a lesser degree in the risk planning to ensure all known areas have been addressed, and schedule planning to ensure time allocation is appropriate. Partners in Leadership will be hired to provide The Oz Principle: Getting Results through Individual and Organizational Accountability training to the two senior trainers selected. This will certify the senior trainers as facilitators who can deliver the training to the employees of 1800-FLOWERS. Partners in Leadership will also provide Change the Culture, Change the Game training to management to ensure success for new hires going through the onboarding process. Improv Effects will be hired to ensure an open, inclusive, and supportive environment exists near the end of the onboarding process. This will allow new hires to feel welcomed into PROJECT PLAN PART 2 4 the company and part of the 1-800-FLOWERS team. This training will also build comradery and engagement that will drive the new employees to success. Risk Management Plan Identifying risks that may impact the project allows the project team to plan for an event in which the risk occurs. Having a predetermined plan in place can help the project team to move quickly to a contingency plan when necessary. This planning lessens the impact on the project team's efficiency despite risk occurrences. Internal Risks Third party training is costly with only a small pool of employees receiving the training. There is a risk that one or more of the employees could be sick or have a family emergency arise that inhibits their ability to receive the training when it is provided. If this is to happen, the contingency plan is to bring in an alternate employee who will be brought up to speed on the project, receive the training, and transition the project back to the original employee when they are able to return to work. This contingency plan will add a week to the schedule at a potential additional labor cost of $800.00. On average, employees use four sick days per year making the probability of this occurrence about one percent (U.S. Bureau of Labor Statistics, 2012). If a project team member is to accept a position with another company or transition to a new role within 1-800-FLOWERS that would not warrant placement on the project team, that person will provide one week's training to their replacement. This means that two people would fill the role of one person for one week's time. This contingency plan will add a potential additional labor cost of $800.00. On average, this service driven industry has a turnover rate of about fifteen percent (Gallant, 2013). PROJECT PLAN PART 2 5 External Risk Inclement weather could make travel to work, training, or attendance to other project related activities impossible to manage. If this is to happen, web-based meetings will be set up, if possible, to keep the project moving forward. In instances that this is not feasible, the project team will delay activities and resume when the weather breaks. Weekends will be worked to make up for time lost due to inclement weather. This contingency plan has little impact to the schedule because overtime will be worked to bring the project back on track. Business operations are rarely shut down for more than a day or two. Worst case weekend overtime work would be the whole project team for one weekend at a cost of $8040.00 of labor. The average annual percentage of time that inclement weather is severe enough to shut down businesses is unknown. For the purposes of this project, an estimation of two percent will be used. Determine Budget The budget is being created through bottom-up estimating by rolling up costs through cost aggregation. The activity estimates plus the contingency reserves equal the cost baseline. The contingency reserves are funds set aside for use if a known threat that needs to be dealt with arises, or if an opportunity to capitalize on becomes available. The cost baseline plus the management reserves will determine the project budget. Management reserves are the funds set aside that will support any unidentified risks that were not foreseen when developing risk management. Labor Budget The labor budget was calculated based on task durations, the resources assigned to the tasks, and the loaded labor rates for those resources. The loaded labor rates include facility fees, insurance costs, and other overhead charges that are in addition to the employee’s salary (Lewis, PROJECT PLAN PART 2 6 2011). The labor budget for this project as calculated by Microsoft Project is $129,160.00 (Appendix). Capital Budget Capital will be necessary to cover the cost of bringing in professional outside training groups. These groups (Partners in Leadership and Improv Effects) provide the fundamental basis for which the new hire onboarding process will be based on. The required budget to institute this training is $130,400.00. Contingency Reserves Three risks have been identified that may negatively impact the project timeline and budget. Contingency reserves are necessary to manage these risks should they occur. The expected monetary value formula is used to calculate the required contingency reserve funds. The expected monetary value (EMV) is the probability (P) a risk will occur multiplied by the impact (I) of that risk (Project Management Institute, 2013). The contingency funds necessary for this project equal the total EMV, $144.80 (Table 1). Table 1 Expected Monetary Value Risk P I EMV Sick Leave 1% $800 $8 Job Displacement 15% $800 $120 Inclement Weather 2% $8040 $16.80 Management Reserves Although the project team has done their best to identify risks that might negatively impact the project, it is recognized that not all risks are known at this time. Management reserves PROJECT PLAN PART 2 7 can accommodate covering unknown risks that may develop through the life of the project. Management approval will be required before these funds are allocated for project use. Because these risks are unknown, management reserves will be calculated by multiplying the cost baseline by five percent. The cost baseline for the project is $259,704.80 (the sum of labor, capital, and contingency costs). The management reserve is then calculated to be $12,985.24. The cost baseline plus the management reserves bring the total project budget to $272,690.04. Project Alignment The schedule and scope of this project have been aligned with the labor and capital budget (Table 2). This information provides the high-level scope of the project, the duration of these work packages, and shows the labor and capital necessary to complete each task. Table 2 Schedule, Scope, and Labor/Capital Budget Alignment Task Duration Start Finish Project Planning 23d Tue 1/5/16 Mon 2/1/16 Starting Baseline 42d Tue 2/2/16 Wed 3/30/16 Measurements Staff Training 4d Thu 3/31/16 Tue 4/5/16 Interview Process 41d Wed 4/6/16 Wed 6/1/16 Onboarding 40d Thu 6/2/16 Wed 7/27/16 Training Process Sustainment 14d Thu 6/2/16 Wed 7/27/16 Process Continuous Improvement 17d Wed 8/17/16 Thu 9/8/16 Process Project Closure 22d Fri 9/9/16 Mon 10/10/16 Labor $14,200.00 Capital $0.00 $28,000.00 $0.00 $2,560.00 $22,800.00 $130,400.00 $0.00 $28,000.00 $0.00 $5,600.00 $0.00 $18,800.00 $0.00 $9,200.00 $0.00 Conclusion This portion of the project plan has defined the process used to develop the project budget for 1-800-FLOWERS. The total project budget came to $272,690.04. This includes loaded labor fees, capital costs, and contingency funds. The resources essential to see the project PROJECT PLAN PART 2 8 through to fruition have been identified and noted as the least possible staffing required for this project. Three total risks were identified along with their impact and the probability of impact to the project to determine the expected monetary value. Finally, alignment between the scope, schedule, and labor/capital budget was displayed for an at-a-glance understanding of how the funds apply to the project at a high level. PROJECT PLAN PART 2 9 References Gallant, M. (2013). Does Your Organization Have a Healthy Employee Turnover Rate. Retrieved from Lewis, J. P. (2011). Project planning, scheduling, and control: A hands-on guide to bringing projects in on time and on budget (5th ed.). New York, NY: McGraw-Hill Project Management Institute. (2013). A guide to the project management body of knowledge (PMBOK guide) (5th ed.). Newtown Square, PA.: Project Management Institute, Inc. U.S. Bureau of Labor Statistics. (2012). Paid Sick Leave: Prevalence, Provision, and Usage among Full-Time Workers in Private Industry. Retrieved from PROJECT PLAN PART 2 10 Appendix 1-800-FLOWERS Project Schedule Overview Dates Start: Baseline Start: Actual Start: Start Variance: Tue 1/5/16 Tue 1/5/16 Tue 1/5/16 0 days Finish: Baseline Finish: Actual Finish: Finish Variance: Mon 10/10/16 Mon 10/10/16 NA 0 days Duration Scheduled: Baseline: Variance: 203 days 203 days 0 days Remaining: Actual: Percent Complete: 188.65 days 14.35days 7% Work Scheduled: Baseline: Variance: 3,808 hrs 3,808 hrs 0 hrs Remaining: Actual: Percent Complete: 3,544 hrs 264 hrs 7% Costs Scheduled: Baseline: Variance: $129,160.00 $129,160.00 $0.00 Task Status Tasks not yet started: Tasks in progress: Tasks completed: Total Tasks: 36 2 6 44 Remaining: Actual: Resource Status Work Resources: Overallocated Work Resources Material Resources: Total Resources: $118,510.00 $10,650.00 10 0 0 10 Running head: PROJECT PLAN PART 2 1 Project Plan Part 2: Coca-Cola Bottling Company Project Quality Management PM/586 PROJECT PLAN PART 2 2 The purpose of this portion of the project is to provide a guideline to the entire project. It will highlight the necessary costs that are expected in the course of the project and go ahead to summarize them in the projected budget to facilitate the entire research. It will also identify all the resources available together with the labor and capital requirements together as well as the schedule for the activities involved in facilitating the undertaking of the research. The scope of the study will also be of interest. To ensure that the research runs efficiently while avoiding chances of interruptions and possible failure, this portion of the plan will also tackle the issue of the internal and external risks that may be expected and develop a risk management plan. Available Resources This research process utilizes resources available in the most economical way while ensuring that all the critical and essential procedures are addressed reasonably. Care has been taken not to exceed the capacity of the same resources which would limit the accuracy and reliability of the data and the results in general due to the introduction of a significant source of error. The research utilizes the expertise of a nutritionist who will guide in inclusion of the zero sugars in all the Coca-Cola brands to ascertain the compatibility and the beneficial results. The expert will also investigate and propose to the company on best methods of the incorporation of the calorie-free substitution of ordinary sugar. The research will also require the valuable input of the Coca-Cola quality control manager and the director of the sales and marketing. The quality control manager will assist in ensuring that the end product after the inclusion is still safe for human consumption and beyond the recommended quality levels while the sales and marketing will assist in announcing the possibility of the inclusion among the Coca-Cola customer base and collect the feedback. PROJECT PLAN PART 2 3 The research will also incorporate the assistance of a psychological expert. The expert will be tasked at determining whether the inclusion will have any effects on the mindset of the company’s existing customers as well as that of the potential customers who may be currently unwilling to purchasethe Coca-Cola’s product on the basis and claims that they have no significant nutritional values. A Project manager will also be hired to ensure that the whole process runs smoothly. Risk Management Plan Like any other projects, the project of zero sugars and other dietary inclusion in the CocaCola’s products certainly bears some risks. This potential risks makes it necessary for the development of a risk management plan to identify the potential risk events, track propose ways to counter them by economic application of resources to try and prevent their occurrence or minimize impacts if the risk takes place. Internal Risks The conduction of research and the various experiments that will be involved is an expensive process to undertake. This is because various experts are hired to assist in the various undertaking in the execution and control processes. If the research does not yield a desirable result, it will result in massive loss due to the payments and resource costs. In response, it is important that the research is insured and all the cost registered with an insurance company so that in case it fails the company will be compensated for the loss. Also, an expert may fail to turn up in the course of the research and critically affect the process due to various reasons. In such a case, the contingency plan comes in. The contingency plan will ensure that extra experts are put on standard by so that they can replace the key experts that will fail to turn up. According to the national statistics, the average duration that employees become absent at their job due to sickness PROJECT PLAN PART 2 4 is one day in every four months (US Bureau of labor statistics. 2011). The contingency cost for this would be $1000. In case of internal restructuring, the new management would require additional training about the project. This warrants an additional contingent cost of $1000 External Risk The testing of compatibility of the dietary additives and inclusions may turn disastrous if individuals participating are being affected by inclusions health wise even when laboratory test have suggested otherwise. In case the inclusion is investigated by external agencies even after rolling out the project, it may lead to law suits in case they are found to be harmful to human health. Additionally, as research continues, new toxins may be discovered leading to withdrawal of the project. The cost incurred prior to the termination of the project may be a great loss to the company. Worse still, the individual negatively affected by the roll out of the project may demand for heavy compensation. Determination of the Budget The budget is simply determined by the arithmetic sum of the costs of the various activities to facilitate the project and contingency reserve which make up the cost baseline plus the management reserves. The management reserves provides for the cost that arise due to unexpected events. Labor Budget The computation of the labor budget involves summing up all the personnel costs. The costs arise from the payments that should be made to individual project participants. The payments are further determined by the staff category, length of their engagement and the weight or significance of their role in the entire project. Accordingly, the labor budget is approximated to be $ 165,000 (appendix 1). PROJECT PLAN PART 2 5 Capital Budget The executives or the management team in the Coca Cola Industry will require some training to strengthen their understanding since the importance of the project is a crucial investment that may boost the company’s sales significantly. This will require hiring of experts in project analysis and evaluation. The cost of hiring this expertise will be covered in the Capital Budget and will amount to $100,000. Contingency Reserves The lump sum allocated in the contingency budget caters for the events that have been foreseen as potential threat to the smooth running of the project. These events may bring the project at a temporary halt or permanently terminate if not well dealt with upon their occurrence. The risks whose monetary value is obtained by the product of the probability of the occurrence of the risk and the impact it would cause (Larson, 2013).The budget allocation for this reserve will be $1200 (Table 2). Table 1: Contingency reserves Risk Event Probability Loss due to Impact EMV Law suits 3% $100,000 $3000 Sickness absenteeism 10% $1000 $100 Managerial job reshuffle 10% $6000 $600 PROJECT PLAN PART 2 6 Management Reserves The management reserves is meant to cater for the risks that may happen beyond the sco ...
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Final Answer



Project Plan Part 3: Coca-Cola Company
Students Name
Institutional Affiliation



Project Execution Strategies
Resources such as human, physical and financial constitute a significant component of
the project (Schwalbe, 2015). As such, it is the interest of the project management team to gather
all the necessary resources required for the project execution at the right time. This is because
lack of enough resources will end up delaying the whole process of the project execution. For
instance, resource management has been reported to be one of the biggest challenge during any
project execution according to a report on research done by Pm Solutions (,
2018). Coca-Cola Company just like any other company can find itself failing in executing the
project. Therefore, coming up with strategies to facilitate the project implementation is
Resource Management Strategies
The aim of the resource management strategies is to make sure that project execution
remains is cost-effective as possible for the Coca-Cola Company together with the realization of
maximum utilization of the resources. Short-term/temporally resources such as inclusion
suitability experimental equipment will be hired to minimize the costs and avoid idling of the
equipment when the experimental stage is over.
Human resources and personnel involved in the project are part of long-term/permanent
resources (Schwalbe, 2015). Therefore, it is important to make both the human resource and the
personal understand the goals of the project. Their effort and input must be acknowledged
regularly and their wages paid reasonably well without delays so that they can be motivated to
better contribute to the achievement of the company’s goals (Kern, 2018). Additionally, as
project execution continues, personnel will receive a brief training before the start of a new
implementation level to enhance performance. When it comes to long-term physical resources



such as beverage distribution trucks, only durable ones will be purchased to cut down the repair
and replacement expenses. They will also be repaired in good time by the company engineers i...

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