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Project Proposal Assignment Sample

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Assignment 1

Introduction

Project expansion is one of the biggest aspects that any business considers so that it can enhance its profit margins and sales to generate a larger revenue. The expansion can be based upon a product/service line, rate of production, increase in outlets or factories, etc. Similar has been the situation for Aspire International Corporation where the company has a potential to expand its business in three areas, Food Market with organic goods, Pharmacy and a convenience store or a Fitness club and spa. Hence, in order to conduct this proposal, the aspect of fitness club and spa is being selected and therefore a thorough analysis of the project has been conducted so that the business can be established according to the expectation of the owners and therefore attract the potential target audience along with time.

Project Budget

Since the company has considered investing in the spa and fitness club, there will be several associative costs that it has to bear so that the project can be conducted efficiently. Firstly, it has to make a substantial investment in leasing the property where the fitness club and spa will be set up and redecorate the interiors into an appropriate theme. When the redecorations are complete, the company will be able to put in all the gym instruments and materials inside the building and arrange them accordingly (Demirkesen & Ozorhon, 2017). Apart from this, Aspire Corp will also have to set a different area for the spa. This is because it will require a quiet and serene place with a steam room, hot water sauna and massage areas. Therefore, necessary equipment is also required in the area such as massage tables, essential oils, lotions, etc. these are the basic requirements and therefore capital investments are required in this area. The fitness club will also consist of facilities for yoga and zumba class as well.

On the other hand, when the facility is being set up, it will also require adequate human capital to handle the customers, train them towards fitness and also maintain a proper diet. Therefore, trainers will be recruited for gym, yoga and zumba sessions in the club. Apart from this, it will also require masseurs who will provide spa treatment massages, pedicure and manicure. Therefore investments are also required in hiring them or training the existing staff to provide the respective services (Radujkovi? & Sjekavica, 2017). Thence, the potential budget that can be required for setting up the desired fitness club and spa is given below:

 

Cost Factors

Cost (in Euros)

Gym Equipments

600,000

Hiring Program

30,000

Training facilities

50,000

Salary of employees

400,000

Supplements and Health drinks

75,000

Equipments for Spa

35,000

Materials (Towels, costumes, essential oils, fragrance, lighting, design, candles)

35,000

Interior Designing

105,000

Miscellaneous

70,000

Total Expense

1,400,000

Table 1: Budget for the project

(Source: Self-Developed)

Figure 1: Budget for the project

(Source: Self-Developed)

Risk Analysis

ID

Identified risk

Types of Problems

Likelihood

Impact

Risk Rating

Solution for the problem

1

Fire Safety in the gym

Fire can start from flammable materials, from towels left on hot sauna surface, circuit damage from improper use of electric boards

5

5

25

Proper fire warning sensors ,fire extinguishers,and proper emergency doors should be kept and checked weekly

2

Slipping/tripping-

systematically maintaining the equipments, weights should be kept properly after usage

3

3

9

A proper rules and regulation chart should be listed and the gym trainee should be warned repeatedly to keep things back to its proper place.

3

Adequate luminance inside the gym

Proper lighting is a must

2

3

6

Proper high power and efficient lighting should be kept.

4

Clean gym floors -

cleaning fluids should be properly used and wiped off

 

4

1

4

Efficient cleaning staff, proper cleaning equipment and a proper check should be done.

5

Proper working gym equipments-

Moving parts of the machinery should be maintained from time to time.

3

3

9

Proper check should be done by the staff and reported by the trainee if there is any fault in the equipment.

6

Location-Proper area when the gym/spa is planned

If the place to too far potential customers will choose other nearby options

3

4

12

Advertising and proper R&D should be done before the location is confirmed

7

Management team -

Regularity of the Trainers ,cleaning stuff

 

4

4

16

Trustworthy and efficient team should be a must and pillor for a successful business

8

Electric breakdown

Proper 24 hrs electric supply should be a must and electric backup as well

4

3

12

Maintaining the electric back up system from time to time without any delays

9

Biological Hazards

Proper cleaning and sanitizing should be a must thing post the corona virus outbreak

1

4

4

Should be screened properly before entering the gym and proper sanitization of every individual is a must ,should bring their own towels,water bottles and other essentials.

10

Social Hazards

Consumption of alcohol,smoking and other edibles sound be under check

3

5

15

Should be checked  properly by the assigned individual before entering the gym and warn the trainees as well not to practice such behavior.

Table 1: Risk Register Log

(Source: Self-Developed)

Project Competition times

Figure 2: Percentage of population having fitness club membership in respective countries

(Source: Statista, 2021)

According to the graphical representation provided above, it can be seen that the respective percentage of population belonging to those countries hold a membership in the health and fitness clubs. It can be seen that in Sweden, the proportion of the population who are enthusiastic towards fitness is significantly high and this evaluates that there is a consistent scope for Aspire International Corporation to establish a fitness club and spa within the territory. However, it can be further mentioned that the country eventually has many existing fitness centres where the people are already enrolled into a membership. Therefore, developing the business among them will be extremely difficult for the initial stage.

Some of the popular fitness clubs and spas that are present within the nation and highly recognised by the potential target market include Upper House Spa, Gympro PT Studio, Trainingskompaniet, Slaggskeppet Gym, etc. Hence, the competition is significantly high and the basic responsibility of the project heads is to design the new Aspire Fitness Club and Spa in such a manner so that it can attract the potential target market and therefore generate the desired amount of revenue.

In order to create a market share and therefore provide the customers with the expected products and services, the new fitness club will provide intensive trainers with proper dietitian. Apart from this, the gym will provide supplements to the ones who have hormonal deficiencies and can experience growth within a short span of time (Papke-Shields & Boyer-Wright, 2017). Apart from this, there will be variation in the types of spa treatment such as Swedish Spa, Thai Spa, Indian Spa, Portugese Spa, etc. These facilities will make the project unique and capable of sustaining in the competitive market efficiently.

Quality Control Measures

Quality control is a very essential aspect that is to be taken into consideration while conducting the project. This is a necessity since it checks the efficiency of the stages in which the project is to be conducted and also helps in making proper adjustments so that the process can be improved along with time. Hence, in order to conduct this project for establishing the Fitness Club and Spa, the initial step would be to segment it into different stages (Kivilä, Martinsuo & Vuorinen, 2017). Therefore, it can be divided into five different parts, i.e., Initiation, planning, execution, control and closure. Division of a project into different segments is extremely important since it reduces the major complexities into small fragments and therefore, it can be solved easily when the intensity of the problem is quite low.

Apart from breaking down the project, it is also required to set monitoring techniques and staff so that each fragment of the project can be controlled and supervised according to necessity. There are several instances when there is no guidance to the team or a supervisor who is monitoring the processes. In such situations, as mentioned by Armenia et al. (2019), the steps of the project might get deviated and eventually lead to a different outcome. Therefore, constant monitoring and supervision is required in order to stop the processes as soon as it experiences a deviation and eventually guide it in an appropriate way to obtain the desired outcome.

In order to carry out the project, taking control of the finances is also important. In order to do so, the project manager will also assign a finance team who will be responsible for carrying out analysis on the expenses of the project and make reports for it. For each and every stage, the reports will be produced to the project manager and assessment of the expenses will be done accordingly (Tereso et al. 2019). In case the expenses for each stage have exceeded its expected budget then adequate adjustments will be made in order to control the cost expenditures associated with the upcoming processes. In this way, the budget will be made and the final project can be delivered based on the initial estimations of project costs.

Another aspect that is required to be taken into consideration includes time management. While breaking down the project into different stages, it is essential to allocate each stage with the required amount of time. This is a crucial part since this will allow the project manager to deliver the project according to the proposed time. In several cases, it is seen that the clients who give tender for a project to a certain organisation often get agitated if the project is not delivered within the proposed time (Bjorvatn & Wald, 2018). Eventually, their satisfaction level and customer experience decrease and they will never try to conduct a business with the concerned organisation in the future. Therefore, time management is extremely crucial and is a necessity of every project that is to be maintained by hook or by crook.

In order to maintain the control measures and implement it efficiently within the project, the company might consider adopting project management approaches such as the Agile Project Management or the PRINCE2 method or the Scrum Method.

Figure 3: Stages of Agile Project management

(Source: Bjorvatn & Wald, 2018)

Agile Project Management: This is a method of project management that allows the companies to deliver a project and eventually stick to the life cycle of the project as well (Trojanowska & Dostatni, 2017). In this type of approach, the project managers work collaboratively with the customers and keep them updated about the project through which their interests will be maintained accordingly. This procedure also provides flexibility to a project so that the project can be delivered according to urgent improvisations that are suggested by the clients (Bjorvatn & Wald, 2018). The primary benefit of applying this method is that it offers the area of continuous improvement that does not become too difficult for the task.

Figure 4: Stages of PRINCE2 Project management

(Source: Borkovskaya, 2018)

PRINCE2 Project Management: PRINCE2 is another method of project management technique that is widely used by organisations over the world, especially the once existing within the European continent (Farashah, Thomas & Blomquist, 2019). In this type of project management, the project is divided into seven stages and each stage is conducted according to its respective specifications. One of the best benefits offered by this framework is that it provides a thorough area of risk management where the associated risks are identified and necessary solutions are evaluated (Borkovskaya, 2018). Apart from this, the project management runs on a common vocabulary and is easily understandable throughout the world. Therefore, the organisations that are adopting this technique can be highly benefited in the long run.

Waterfall Project Management: This is a linear and sequential project management process where the stages are divided in a particular order and completion of each stage depicts its terminal point. This is a traditional method where the processes are strictly bound to their respective places and improvisations cannot be made according to someone's desire. However, as opined by Ma et al. (2018), the major benefit of this framework is that the operator cannot move to the next level of the project unless it meets every requirement and therefore delivers the expected outcome.

Team Member Breakdown

Figure 5: Team Breakdown Structure of Fitness Club and Spa project

(Source: Self-Developed)

As it can be seen in the above breakdown structure, the project team will consist of five different departments so that they can segment the project accordingly and handle these areas accordingly. So the department segmentation will be as follows:

  • Finance
  • Interior Designer
  • Human Resources
  • Legal
  • Controllers

These teams have several subsections of the members with their respective specialisations. Therefore, the members will be allocated with the respective jobs based on their area of expertise and eventually conduct the project accordingly. However, the controller department will consist of the heads for each of the other departments who will be responsible for monitoring the areas (Banihashemi et al. 2017). These individuals will monitor the processes conducted by each department, give necessary instructions, make improvisations and therefore increase the efficiency of the project to a greater extent.

Conclusion

Based on the specifications of the project, it can be said that the effort of establishing the project would eventually lead to a success. This is because a thorough prospect has been taken into consideration regarding the processes that are to be involved, the risks associated with the project as well as the ones that can be experienced after the establishment of the spa and fitness club. Apart from this several monitoring and controlling measures have been highlighted so that the project can be carried out according to the expectations. The team has been segregated into different departments so that the individual stages can be taken care of. Hence, all of the discussions increase the validity of the project and therefore provide adequate results at delivery to the client

Assignment 2

Validity of the proposal

The government of Thailand is planning on building a high-speed railway network so that they can be able to connect Bangkok and Chiang Mai and therefore provide a convenient route for the passengers for travel. In order to do so, the government representatives of Thailand have contacted the Japanese to build a railway facility so that they can be able to communicate between these two areas efficiently and save time for their convenience. The distance between these two destinations is approximately 689 kms and it takes 9.5 hours on average for a one way trip (Chen et al. 2019). Building a high-speed railway facility for this particular route can increase the efficiency of time to a greater extent and eventually lead to increasing convenience of the potential travellers.

However, it can be seen that the Japanese have suggested that the primary fair for travelling through this route cannot exceed 1200 bahts. Moreover, they have also estimated that the cost that can be incurred to complete the project will be around 100 billion bahts. It is difficult to estimate on the basis of the given information whether the project will be viable or not (San Cristóbal et al. 2018). Therefore, the estimations can be made on the basis of mere assumptions.

Firstly, it can be said that a bullet train or a high-speed train can have a seating capacity of 1300 passengers on an average. The average speed of a bullet train is considered to be 270 km/hr. Hence, in order to cover a distance of 689km, the train will take approximately 2.5 hrs to complete a one way trip. Accordingly, each day, one bullet train can cover a total of 4 trips up and down the route. Since it takes 1300 passengers at a time, therefore one one-way trip will produce a total of (1200*1300) bahts (assuming that each trip will experience full passenger seating and the cost of ticket per passenger is 1200 bahts) i.e., 1,560,000 bahts. Now, if the train makes 4 trips a day (up and down), then it will generate a total revenue of 6,240,000 bahts. This is the per day income of the railway authority from the route that is going to be built over the time (Bibarsov, Khokholova & Okladnikova, 2017). Therefore, in a month, the railway authority will be able to earn a total of 187,200,000 bahts. It has been already identified that a total of 100 billion will be invested into this project and therefore, the railway authority would have to generate a minimum of this amount to stay at the breakeven point. The yearly income of the bullet train will be (187,200,000*12) bahts, i.e., 2,246,400,000 bahts. At this rate with only one bullet train, the high-speed railway authority would have to wait for approximately 48-50 years so that they can be able to generate the amount of money that they have invested.

Therefore, if there are four high speed trains running each day with four trips, then the time taken to generate the revenue will decrease by four times, i.e., still it will take 12-13 years to recover the amount of money that is going to be invested in this project (Chawla et al. 2018). In order to build this railway route, the Japanese might take a maximum of 1.5 years to 2 years time for completing this project. Hence, on the basis of the outcomes that have been obtained from the above estimations and discussions, it can be said that the project cannot be considered viable in nature.

Additional ways to earn income

According to the above estimations, it can be seen that the contract that is to be signed between the Thai and the Japanese will not produce optimal outcomes, depending upon the assumptions. In real life scenarios, the train might not get filled according to its seating capacity and there might be vacant seats as well (Davies, Manning & Söderlund, 2018). Therefore the total revenue as estimated cannot be generated on a daily basis as well. These errors will prevail while operating this business within the market. However, there are certain ways on the basis of which, the authority can intensify income and make the project a viable one.

Increase the number of bullet trains

In order to achieve the desired target, i.e., to generate the invested money for remaining at the breakeven position, the railway authority would have to introduce a minimum of 4 bullet trains. This is one of the potential solutions that can be suggested to the Japanese and therefore, reach the optimum at the given rate. It has been found out that at the rate of 1200 bahts per passenger and completing four up and down trips, one train can take up to 12-13 years for generating 100 billion bahts. However, if a total of four bullet trains are introduced in the same route, each will complete four trips a day, therefore working 16 times more than the previous performance (Dunmade et al. 2018). Accordingly, the project will take around 4 times less period to achieve the target and they will be able to generate 100 billion bahts within 3-3.25 years. This can be a potential solution to increase the convenience and validity of the project to a greater extent.

Increase the number of trips

According to the initial setting, the project can consider increasing the number of trips that are taking place each day by only one train will take around 50 years to bring back the invested amount. Therefore, the number of trips covered by each train can be doubles, i.e., 8 up and down trips each day. This will increase the rate of income for the entire organisation even further. Based on the estimations that have been calculated previously, it can be said that it will decrease the tenure of reaching the breakeven point to an even lower level (Owusu, Chan & Shan, 2019). Thus, increasing the number of bullet trains to 4 units and the number of trips to 8 times will eventually bring the organisation to generate the entire amount within 1.5 to 2 years on an average. In this way, it can be said that the validity of the project will increase even further.

Reference List

Armenia, S., Dangelico, R. M., Nonino, F., & Pompei, A. (2019). Sustainable project management: A conceptualization-oriented review and a framework proposal for future studies. Sustainability, 11(9), 2664.

Banihashemi, S., Hosseini, M. R., Golizadeh, H., & Sankaran, S. (2017). Critical success factors (CSFs) for integration of sustainability into construction project management practices in developing countries. International Journal of Project Management, 35(6), 1103-1119.

Bibarsov, K. R., Khokholova, G. I., & Okladnikova, D. R. (2017). Conceptual basics and mechanism of innovation project management.

Bjorvatn, T., & Wald, A. (2018). Project complexity and team-level absorptive capacity as drivers of project management performance. International Journal of Project Management, 36(6), 876-888.

Borkovskaya, V. (2018). Project management risks in the sphere of housing and communal services. In MATEC Web of Conferences (Vol. 251, p. 06025). EDP Sciences.

Chawla, V., Chanda, A., Angra, S., & Chawla, G. (2018). The sustainable project management: A review and future possibilities. Journal of Project Management, 3(3), 157-170.

Chen, T., Fu, M., Liu, R., Xu, X., Zhou, S., & Liu, B. (2019). How do project management competencies change within the project management career model in large Chinese construction companies?. International Journal of Project Management, 37(3), 485-500.

Davies, A., Manning, S., & Söderlund, J. (2018). When neighboring disciplines fail to learn from each other: The case of innovation and project management research. Research Policy, 47(5), 965-979.

Demirkesen, S., & Ozorhon, B. (2017). Impact of integration management on construction project management performance. International Journal of Project Management, 35(8), 1639-1654.

Dunmade, I., Udo, M., Akintayo, T., Oyedepo, S., & Okokpujie, I. P. (2018, September). Lifecycle impact assessment of an engineering project management process–a SLCA approach. In IOP conference series: materials science and engineering (Vol. 413, No. 1, p. 012061). IOP Publishing.

Farashah, A. D., Thomas, J., & Blomquist, T. (2019). Exploring the value of project management certification in selection and recruiting. International Journal of Project Management, 37(1), 14-26.

Kivilä, J., Martinsuo, M., & Vuorinen, L. (2017). Sustainable project management through project control in infrastructure projects. International Journal of Project Management, 35(6), 1167-1183.

Ma, X., Xiong, F., Olawumi, T. O., Dong, N., & Chan, A. P. (2018). Conceptual framework and roadmap approach for integrating BIM into lifecycle project management. Journal of Management in Engineering, 34(6), 05018011.

Owusu, E. K., Chan, A. P., & Shan, M. (2019). Causal factors of corruption in construction project management: An overview. Science and engineering ethics, 25(1), 1-31.

Papke-Shields, K. E., & Boyer-Wright, K. M. (2017). Strategic planning characteristics applied to project management. International Journal of Project Management, 35(2), 169-179.

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San Cristóbal, J. R., Carral, L., Diaz, E., Fraguela, J. A., & Iglesias, G. (2018). Complexity and project management: A general overview. Complexity, 2018.

Tereso, A., Ribeiro, P., Fernandes, G., Loureiro, I., & Ferreira, M. (2019). Project management practices in private organizations. Project Management Journal, 50(1), 6-22.

Trojanowska, J., & Dostatni, E. (2017). Application of the theory of constraints for project management. Management and production engineering review, 8.

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