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Business Case For ABC Food Company
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Project Background
Whenever the individual is looking forward to developing a project then it is essential to develop an effective plan which can help them in making the project successful (South, et. al., 2018). In this report, the researcher is focusing on developing an effective project plan for the company. ABC Food company which is a food service offering company which is having different outlets in different areas and offering food service in the UK. The company is having a better market position and an attractive customer base. In the present era of COVID-19, the company is facing issues in operating effectively and delivering service to its customers. Due to the pandemic situation the case company is looking forward to starting offering the food services through an online platform that can help them in selling their products in a safe and convenient manner. In this report, the researcher would provide detailed knowledge related to all the requirements and all the different factors on which the company needs to focus while working on this project.
Project Aim And Objectives
Aim
The ABC Food company aims at maintaining their sales even in the pandemic situation.
Objectives
- To offer safe and convenient food services to the customers.
- To maintain the sales and profitability of the company.
- To decrease the negative impact on the COVID-19 pandemic.
Current Situation-Problem/ Opportunity Statement
Currently, the case company is facing issues in offering the products and services to their customers due to COVID-19 precaution guidelines. Before the covid-19 pandemic, the company is operating 10 outlets in the entire UK and offering high-quality food to their customers but in the pandemic situation the company is facing issues in offering food to their customers and this is affecting the sales and profitability of the company in a negative manner. Due to this reason the company had decided to start offering the food through an online platform in the entire UK which would help them in solving this issue in an effective manner and would help them in doing business effectively even in this pandemic situation.
Critical Assumptions And Constraints
When the company is working on any of the projects then it is important that the organization should focus on making assumptions and focusing on constraints that can take place in the project (Motwani, 2019). For this project the cost and quality are the crucial constraints for the case company because it is important for the project to be high quality and should help the company in achieving the aims and objectives of this project. It can be said that it is important for the project to offer the expected benefits such as better sales, offering safe and convenient services to the customers and maintaining the profitability of the company even in the pandemic situation. But if this project does not fulfils the expected benefits to the company then there are chances that the company might face loss of capital which is being invested in this project.
Analysis Of Options And Recommendations
The case company is having an better market position and serving the products in an effective manner but due to the pandemic situation the company is facing issue in managing the business operations and in this situation the company needs to think the alternatives for continuing their services in an effective manner even in such situation (Lee, et. al., 2020). For continuing their services the company is having two different options either to start providing the take away services to their customers or two start offering the food through online platforms.
If the company starts providing the take away services to their customers but then also the company would not be able to do businesses in an effective manner because due to the increasing spread of the COVID-19 the customer preference is changing and the customers are focusing on online purchase instead of going to purchase the things from their own. On the other hand if the company focuses on offering the food through online platform by developing their own application then this would help the company in serving the safe and convenient service to the customers even in this pandemic situation and would help the company in maintaining the sales and profitability of the firm. It can be recommended that the case company should focus on developing the application which can help them in delivering food services to their customers in an effective manner in this pandemic situation and will help them in enhancing their sales effectively. Along with this if the case company will invest in this project then it would help the company in reducing the negative impact of the pandemic on the sales of the company.
Preliminary Project Requirements
While working on the project it is important to focus on analysing on the different requirements of the project plan so that they can be arranges on time which can help in better implementation of the project plan (Soboleva, and Karavaev, 2020). In this project the case company is focusing on developing an application which can help them in offering their products and services through online mode. The important requirement is an effective app which can help the company in offering the products to their customers in an convenient manner. For developing the application the company needs to have better financial resources because capital is also an important requirement for the project. Along with this the company needs to have better employees with better technological knowledge for operating and using the app in an effective manner. It can be said that the human resource is an also important requirement of the success of the project and along with this the legal requirements which are required for offering the food are also important requirement for running the online food service effectively. The estimated time which would be required by the company for completing this project is around 1 month and within this time period the company needs to make arrange all the requirement so that they can develop this project in an effective manner.
Budget Estimates
Estimating the budget is an important requirement for the project because the capital plays an major role in proper execution of the project plan (Marchioni, and Magni, 2018). For this project it can be estimated the company needs to invest around £100,000. The company would require £80,000 for the development of the app and £20,000 for other requirements.
Including A Financial Investment Analysis Showing Net Present Value (Npv)
When the investment is being made by the company then it is important for the firm to focus on doing the financial investment analysis which helps the company in estimating the future performance of the investment. Net Present Value is an effective tool for analysing the profitability of the project for the firm (Zheng, et. al., 2017). The case company is having two different options such as the offering the services through take away services (project 1) and the another one is the development of the app for offering products through online mode (project 2).
On the basis of the NPV analysis it is being found tha the company should invest in project 2 which is the development of the app for offering the products through online platform as this project would offer higher benefits to the company and will help them in doing business effectively even in the pandemic situation.
Potential High-Level Risks
Risks are involved in every project so it is important to analyse the risk in advance. The most important risk for this project is the lack of financial resources if the company lacks in funding the required financial capital then it would create an higher risk for the firm because capital is an important factor for the success of the project. Along with this the lack of highly skilled and qualified human resource is also an important risk factor for the company because if the company is not having better employees who can use the app then it is not worth to invest in such a project. Also the proper functioning of the app is also an risk because if the app does not works properly then it would create a lot of issues for the company and lead to the reputational loss as well (Muriana, and Vizzini, 2017).
Quality Considerations
The case company is offering the food services to their customers and it is important for the company to ensure that they should provide safe services and food products to their customers. Along with this in the case company have to focus on developing an high quality application which is easy to access by all the customers then only the company would be able to deliver high quality food service to their customers.
Recommendations
For this project it can be said that the case company should focus on making all the requirements available on time so that it would help them in completing the project on time and achieving the required aims and objectives from this project. Along with this the company should focus on ensuring that all the precaution measures are required to be fulfilled while offering food to the customers through online application.
References
Lee, O.K.D., Namayanja, J. and Xu, P., 2020. A Conceptual Framework to Discover IT Project Risks in Developing Economies: An Application to Cambodia and Uganda Contexts.Pacific Asia Journal of the Association for Information Systems,12(3), p.1.
Marchioni, A. and Magni, C.A., 2018. Investment decisions and sensitivity analysis: NPV-consistency of rates of return.European Journal of Operational Research,268(1), pp.361-372.
Motwani, P., 2019. Business development plan for a start-up tax firm.
Muriana, C. and Vizzini, G., 2017. Project risk management: A deterministic quantitative technique for assessment and mitigation.International Journal of Project Management,35(3), pp.320-340.
Soboleva, E.V. and Karavaev, N.L., 2020. Characteristics of the Project-Based Teamwork in the Case of Developing a Smart Application in a Digital Educational Environment.European Journal of Contemporary Education,9(2), pp.417-433.
South, A., Eriksson, K. and Levitt, R., 2018. How infrastructure public–private partnership projects change over project development phases.Project management journal,49(4), pp.62-80.
Zheng, W., He, Z., Wang, N. and Jia, T., 2017. Proactive and reactive resource-constrained max-NPV project scheduling with random activity duration.Journal of the operational research society, pp.1-12.
