MS Project Familiarization - Professor Toye BUS 01/2016

MS Project Familiarization Professor Toye BUS /01/2016 Provide a brief summary of your chosen project

Provide a brief summary of your chosen project Singles is a grocery store that focuses on single working people with a need for home cooked meals. The community will benefit from having a neighborhood grocery store that provides all of the needed items for a meal in their neighborhood without the need to go out of their way after a long day. This store is meant to mimic a mom and pop store that was a norm back in the day. The store needs to focus on community needs, fresh foods and convenience. The customers deserve a place where they can commune and choose from a variety of items that are in tune with their different taste and dietary needs.

Other grocers have focused on the idea of farm fresh foods, but these items are all marketed towards people with families and time to cook a complete meal daily. There should be a store that assists the customers in their meal planning while saving time and money. There is also a budget to be adhered to.

Describe at least three (3) project goals and three (3) project objectives

Three Project goals for a business of this type will include the following. The company will need Start-up expenses; the store should be built in the heart of the community and the company will be as green as possible.

By establishing these goals in the planning phase the project will have better chances of staying on track. The need for a Project Plan is important especially for this type of project, since the way the project begins plays a role in the overall survival of the project. A key objective for opening a new grocery store is to have the right space and place to build. This is one of the most important objectives, since this will a permanent place and will become a fixture wherever it is built. There will be a need for motivated employees before the closing of the project, so it is important that these perspective employees are interviewed and trained.

The last objective would be to ensure that time and money are in order for both the beginning and closing phase to ensure that any unneeded delays are avoided.

Identify the key customer(s) and at least two (2) stakeholders for your project

The target customers are young professionals and smaller one to two person households, in the mid to upper salary level with a decent amount of disposable pay. The goal is to target consumer types who have a desire for healthy, full meals at home but do not need a large quantity of items to make a good meal happen. A grocery store's stakeholders are its owners, investors, employees, creditors, customers, suppliers, for obvious reasons. The community is a stakeholder because the store pays taxes and employs other community members who also pay taxes. The store might also donate groceries to the local food pantry, soup kitchen, homeless shelter, etc.

Describe at least three (3) key milestones and/or deliverables for your project

Three key milestones for opening a grocery store would include; purchasing equipment/supplies, ordering the start-up inventory and creating a website. Equipment and supplies are an important factor in all projects, since before the closing phase is completed these things will need to be installed. Often times the equipment supplies will play a factor in the order of the way specific items will need to be installed. The previous information is also true for start-up inventory. Websites are common nowadays for almost all businesses.

The 21st century brought along the use of both computers and cell phones; both of which are important factors in daily life. Describe a high-level timeline that includes key tasks and deadlines

Starting and operating a small business can be both complicated and confusing for even an experienced entrepreneur. Before starting any new business, it is necessary to know if it is feasible to invest both time and money into the venture. Unfortunately, not all good ideas make great businesses, or even make money. From start to end, this project could take months to years. With the right project management skills and team, this project can be completed on time. Tasks will include gaining the best possible property, ensuring that all equipment and supplies are suitable for this type of project. Labor and technology are linked since technology can be used to ensure that staff is in place before the opening.

Estimate the project’s overall cost and any key staffing and non-staffing resources needed

Cash is critical for any competitive business. To secure a competitive future, companies must constantly monitor inflow and outflow of cash. A strategy to minimize liquidity risk is the cost leadership strategy, which focuses on cost control to reduce expenses and interest payments. For a business of this size, an initial investment of $150,000 to $200,000 is recommended, covering equipment, inventory, location, staff salaries, and marketing. Resources needed include qualified staff, suppliers, technology systems, and a retail space that aligns with community expectations.

Examine your project’s greatest challenge and provide a recommendation for addressing the challenge in question

The greatest challenge identified for this project is the reputation concern related to pricing and perceived value; organic markets are often associated with high prices. Customers may hesitate to buy smaller packaged items if they perceive them to be more expensive than large supermarket counterparts. To address this, the business should focus on strategic pricing that reflects the value of smaller portions and organic qualities, ensuring that prices are competitive yet sustainable. Transparency about sourcing and quality can reinforce customer trust and justify pricing differences.

Conclusion

In conclusion, launching a neighborhood grocery store such as Singles requires meticulous planning across multiple facets—location, inventory, staffing, and community engagement. Emphasizing affordability, convenience, and community-centric values, while maintaining cost control and quality standards, will be essential to the project's success. By carefully managing milestones, timelines, and resources, and by addressing potential challenges proactively, the project can establish a sustainable, trusted presence in the community that meets evolving consumer needs for healthy, convenient meal options.

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