PROJ6000: Project Charter Report Assignment Help
Question
PROJ6000: This Principles of Project Management assignment for Torrens University Australia requires the student to write a Project Charter report based on a project case study provided in the task file. The project file should be critically analyzed to demonstrate how the student aims to develop and depict their project leadership skills.
The case provided in the assessment file revolves around El Charrua, which is a restaurant business that is presently facing financial challenges, and it also had to refurbish and remodel the restaurant thrice since 2019. Assuming the role of a project manager, the student is supposed to develop the project charter for the case.
Solution
The solution provides an extensive project charter which is developed to address the financial challenges faced by El Charrua and steer the organization towards a more financially sustainable approach. The report consists of different sections- Project background, Project reasons, Project objectives, Proposed project management approach or methodology, Constraints, limitations, and risks, Leadership Structure and roles, Project Risks and mitigations, Project stakeholders and interaction with them, Vision of the project and the type of project team culture, and lastly Conclusion.
Project background
The first section of the report provides a foregrounding of the project of El Charrua. Our experts have written a brief yet informative summary of the project, half of which you can read below:
El Charrua is a partnership-based restaurant business which is located in Catalonia in Spain. Ignacio and Rodrigo are the founders of this business which started in 2009 (Vázquez et al., 2021). This restaurant has been serving Latin American cuisine in Spain that mimics the authenticity, menu selection, taste and vibes of Uruguay. However, the company has been suffering from frequent bouts of the financial crisis and has conducted 3 refurbishments and remodelling since 2009.
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Project reasons
The next section is a remark on the reasoning behind why the project is significant and why project management concepts need to applied is highlighted here.
The founders of El Charrua did not opt for long-term planning when it came to space designing and target market capture. As result, the initial response of the restaurant was underwhelming thereby, depleting the capital at hand. Internal Rate of Return or IRR emerged as a serious issue which gradually led to low ROI (Vázquez et al., 2021). The inbound supply chain was miscalculated which resulted in excess inventory storage and a lot of wine and other exotic products were wasted and which made the Payback period or PP higher than the initial amount.
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Project objectives
In this section, our experts have presented various objectives that the project aims to achieve. All data presented here is supported by credible evidences and in-ddepth research of the project.
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Proposed project management approach or methodology
In the following section, our experts have proposed certain project management approaches based on the analysis done above. Here, our experts have used project management concepts and theories to support these methodologies.
When conducting the financial analysis of various operational segments, Scoring Model would be used to comprehend the exact nature of the financial status. It would also be used to measure the financial performance of HR, inbound inventory, outbound distribution, marketing & promotion and space interior and individual ROI on them (Damasiotis and Fitsilis, 2023). It would allow to learn the financial excess on each of these operational segments. The competitor analysis would include the application of Product Line extension where the weaknesses in direct and indirect competitors’ menus would be assessed so as to modify and extend the menu of El Charrua accordingly (Cho and Janda, 2021). Selection of the perishable goods suppliers would be evaluated through the Comparative Benefit approach as it would help to understand how each suppliers can contribute to the financial and operational stability thereby, choosing those suppliers whose average contribution is higher.
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Constraints, limitations, and risks
Our experts have then analyzed the project to reveal certain challenges that would accompany the implementation of the above-mentioned methodologies and how it can become a risk in addressing the financial constraints of the company.
As Agile methodology will be applied, it would be difficult to make it time bound along with KPI (Key Performance Indicator) implementation (Srivastava et al., 2017). Moreover, because of the flexible nature of the Iterative approach, the initial and final resource requirements for the project completion may not match which means more capital pull can occur at a layer stage. In the adaptive agile approach, the main constraint is that it would require constant employee and consumer feedback. Whilst the former would mean eating into the business running time, the chances for latter is lower as customer participation cannot occur when the retention of clients is negligible. These can referred as constraints.
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Leadership Structure and Roles
Next, our experts have elaborated on the role each of the four main important leaders who will head this project will take. Here, our experts have also ensured that the present project will also become a point of initiation of new projects, as a result of which different management approaches are also included while describing the responsibilities they will undertake.
To accomplish this project in El Charrua, a Matrix organisation structure for project management would be used.
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Project Risks and mitigations
The next section of this Project Charter report discusses the risks and mitigations that accompany the implementation of this project.
The primary constraint in applying the PM methodologies and approaches is the lack of working capital availability. As the restaurant has become highly cash-strapped, the provision of monetary aid for application project methodologies would further aggravate this problem. This issue can be solved by opting for a short-term & low interest bank loan and by minimizing the inventory storage quantity & amount. Increasing the net profit margin through efficient target market capture would also increase cash inflow in short-term (Jung et al., 2018). The next project risk is pulling manpower from the restaurant for competitor’s analysis and suppliers’ assessment as this would create an artificial labour shortage in the kitchen which in turn, can affect the food & service quality thereby, keeping the chances of ruining brand reputation (Obeidat, 2023). This risk can be solved by paying the kutchen overtime to pull project duties after the normal hours and enlisting the owners to perform the competitor analysis through physical research.
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Project stakeholders and interaction with them
In the following section, the different stakeholders involved in the project as well as how will they inform the project are explored in detail by our experts.
The project stakeholders at El Charrua include- a) employees, b) suppliers, c) customers and the d) owners (Vázquez et al., 2021). All the concerned stakeholders remain equally informed about the modifications that are being made on the basis of project methodology an approaches.
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Vision of the project and the type of project team culture
Through careful analysis of the complete project and the risks that might accompany, our experts have proposed a visions related to the project for the customers, the company, as well as vision for the team.
Vision for customers- “Serving our customers smile through food”
Vision for business- __________________________________________________________________________________________________________________________________________________________________________________________
Team Culture- a) Promotion of clan culture in the kitchen and service, b) Promotion of Market Culture for managers and suppliers and c) ____________________________________________________________________________________________________________________________
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Conclusion
Lastly, a brief conclusion is written to summarise all the key findings of the project. You can read a part of the complete conclusion below:
Thus, it can be concluded that it is necessary to develop a detailed monitoring and evaluation process for every change that is made so that a financial stability is built for El Charrua.
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