Scheduling or budgeting, Financial Accounting

Assignment Help:

Tool Belt Store (TBS) is expanding its chain of hardware stores across the country. TBS has more than 5,000 full-time employees and more than 20,000 part-time employees. TBS recently updated its strategic plan, and key goals including reducing internal costs, increasing cross-selling of products and exploiting new Web-based technologies to help employees, customers, and suppliers work together to improve the procurement, delivery and sale of its wide ranges of products (e.g. tools, machinery, etc.) and services (e.g. paint matching & mixing, kitchen & bathroom renovation, etc.).

The Information Technology department is developing an idea for an intranet application to help support these strategic goals, a "Tool Planet" Intranet. The purpose of this intranet application is to help all employees improve access to supply chain information, involvement in retail outcomes, education regarding products and services, including online tools for sharing with customers (e.g. paint colour charts) and an idea database where strategic change ideas can be suggested and rewarded, where implemented.
A recent study showed that TBS cost of goods sold (COGS) is typically 10% more than the industry average for the retail and wholesale distribution sector. The board believes that this application will help improve sales, improve employee product knowledge, ownership of outcomes and morale, reduce inventory holdings, shorten time-to-delivery and reduce COGS within one year of rollout. This is expected to result in lower costs, higher sales at higher margins and, where appropriate, lower retail sales prices, providing net savings of at least $30 / Full Time Equivalent employee / year over the next 2 years (assumes 4 casual employees = 1 FTE).

This application should include the following capabilities:
o Allow employees to register for company sponsored sales initiatives with resulting benefits, e.g. rewards;
o Allow employees to register for company sponsored classes and programs to help them manage a wide range of issues from product knowledge, sales & service skills, through to supervision and management;
o Track data on employee involvement in these programs; 
o Offer incentives for people to join the programs and do well in them.
oAnalyse the data to correlate involvement with these programs and improvements in workplace involvement, process improvement, cost reduction and sales growth and other potentially identified benefits.
o Possibly include online access to employee benefits including salary/expense claims, leave entitlements, etc. Inclusion of these options has been expressed as a "nice to have" option.

Your task as project manager is to develop the following:
1. Prepare a project charter for this project. Assume the project will take 6 months to complete and cost about $200,000. Use the project charter template and examples of project charters in Chapters 3 and 4 as guidelines.
2. A project scope statement for the project which should be as specific as possible in describing product deliverables and requirements as well as all of the project goals. It should also include testing and training as part of the project.
3. Identify critical milestones and describe each of them using the SMART criteria.
4. Develop a Level 3 work breakdown structure (WBS) for the project which is based on the project scope you develop in task 1.
5. Using the WBS developed in task 3 create a Gantt chart using MS Project 2010 (or earlier version).
6. Using the Gantt chart from task 4 identify and or update your Gantt chart with the critical milestones from task 2, summary tasks as appropriate and include task durations and dependencies. The schedule goal for this project is 6 months.
7. After your project plan is completed and the critical path identified, demonstrate your ability to expedite at least one milestone by scheduling or increasing resources to at least one task . This should result in tangible savings in time /money/resource allocation to the project plan. Produce documentation showing the overall change to time and cost. (Hint: The selected milestone has to be on the critical path.)
8. Produce a finance plan or cash flow, a communication plan, a quality plan, a risk management plan, and a training plan for the project.

Assumptions:
You can assume that TBS would not need to purchase any additional hardware or software for the project.
Any other assumptions that you make must be realistic and fully documented (explained in detail).
Keep your WBS realistic. There is no minimum or maximum lines required, but identifying key activities (summary tasks) and several critical tasks for each should provide a realistic picture. Remember that you have to be able to show and present your strategy to a time-constrained sponsor who wants to see what you can deliver.
This is not an assignment that can be done at the last minute. It will require some planning, time to master/use appropriate software and possibly to mail in the assignment. Students should prepare for this as extensions are not available for this oversight.

Rationale

This assessment has been designed to allow you to show your ability to:
• Be able to demonstrate how a practicing project manager actually applies project management skills, methods, techniques and tools ;
• Be able to use an industry standard project management software tool (typically Microsoft Project 2010 or earlier, but can be any project software you are otherwise familiar with - see note above regarding merlin software for mac users); 
• Apply project management skills, methods, techniques and tools to a real world problem typical of a project manager;
• Be able to describe what exactly a quality system is and how it is achieved in project development; and
• Be able to identify how the disciplined application of quality assurance can lead to significant productivity gains.
• Be able to demonstrate how to expedite project tasks during project delivery


Related Discussions:- Scheduling or budgeting

Modern techniques economic order quantity, The economic demand quantity can...

The economic demand quantity can also be found out with the assist of a graph. In this technique ordering cost, carrying cost and total inventory costs as per various lot sizes are

The paper Contemporary Issues in International Accounting, Requirements: P...

Requirements: Part I Access the IFRS and the Generally Accepted Accounting Principles (GAAP) of your country. a. Note ten differences between the two sets of GAAP. Part II Ac

Income statement, depreciation in question is given more and in adjustment ...

depreciation in question is given more and in adjustment is less. What would be in the profit and loss account?

How should i record the transaction on the com''s cash record, I am working...

I am working on a bank reconciliation problem. How should I record the following transaction on the company's cash record? (10/31/13 Bank Rec) A two month, 8%, $1350 customer's not

Leverage, Evaluate the importance of leverage in financial management of a ...

Evaluate the importance of leverage in financial management of a small scale company

Describe about backdating, Q. Describe about Backdating? i) Exercise pr...

Q. Describe about Backdating? i) Exercise price is based on a lower share price prior to option grant date. Practice of marking a document with a date that precedes actual date

Peer review, Peer Review - Process by which an accounting firm's practice i...

Peer Review - Process by which an accounting firm's practice is evaluated for compliance with professional standards. Objective is achieved through the performance of an independen

Financial accounting , a. Create a worksheet in your excel file and name it...

a. Create a worksheet in your excel file and name it "Part A Q2". In column A to E set up general journal and input the necessary journal entries to record the transactions and eve

MBA 2nd semester assigenment, Considering the following information, what i...

Considering the following information, what is the price of the share as per Gordon’s Model? Details of the Company Net sales Rs.120 lakhs Net profit margin 12.5% Outstanding prefe

Invoices before Inventory, How should I handle Booking an invoice in one mo...

How should I handle Booking an invoice in one month for Raw material that has not been received until the following month?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd