Project Management Project Title: Opening of Branch

Project Management

Project Title: Opening of Branch Store in La Jolla CA.

Project Manager: SELF

The main store is located in Del Mar and is the only store that serves the entire community plus the extra population that comes in to shop here from surrounding towns and neighborhoods. The long distance that the clients have to cover has been a concern for both the clients and the management as well. It is from this point of consideration that the management should venture into opening another branch in La Jolla so that it can help shorten the agony of clients having to travel long distance to source for the fresh produce from the main store.

The main objective is to reduce the time wastage for the clients between their homes and the point where they can source for the products of the company.

To retain the clientele that the store has already made within the region by not losing them to other fresh products stores that are closer to them than our main store.

Venture into new market with a prospective of enlarging the product range as well in line with the demands of the new market as will be presented in La Jolla.

Objective definition

The La Jolla is expected to be complete within six months from the time of commencement as the infrastructure will have to be built. This is bearing the fact that the stores to let in La Jolla are not as spacious as would be required.

The project is estimated at $15 million as there must be purchase of land and building of the structure that will house the store as well as the stock that will be used as opening stock. This amount will also cover the hiring of the experts as well as paying any fees that will be associated with the building and the business operation.

Risk analysis

The main risks that are associated with this project is the possibility of cost overruns as six months is a long time and the cost of items may fluctuate. The amount above is also an estimation that may not be accurate to the letter due to other aspects of Federal incentives and consultation as well as experts fees that may vary. There is a relatively high likelihood that this risk may be encountered in the course of the project. If this happens, then there must be financial adjustments that must be made or the strategic adjustments in terms of the scope of the project size reduction or time extension for the management to gather more money to fill in the deficits.

The other risk is a possible expansion of the gourmet store that already exists in a bid to stem competition and overshadowing from our new branch. This may present a new challenge in terms of the projections of the store in terms of return for investment and the time projection for the same. This is a risk that has a lesser likelihood of happening, but if it happens then the long-term goals of the project will have to be adjusted to add more time to the return on investment to be realized.