Project Selection Paper April 13 2015 Project Selection Paper

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Project Selection Paper

April 13, 2015

Project Selection Paper

Wedding planning including an event
venue business is an extremely competitive market to get into. However, is also
a very rewarding business that showcases love, family, and special times in
people’s lives. Before starting up the
business several items need to be reviewed and put into a proposal. In this
document there will be a Project Selection Criterion, Preliminary Project Plan,
and a Final Project Charter of the selected project “wedding/event venue
business”.

Project
Selection Criterion

Project selection is a tool to assess every project idea
and make your selection with the highest priority in mind. Projects are still just thoughts at this
stage; therefore the selection is generally determined based on only
short-lived descriptions of the project.
As some of the projects will only be thoughts, one idea may be to write
a cursory description of every project before completing the selection process.

The selection of projects are based on benefits and
feasibility, which is a measure of the approving outcomes of the project is
defined as benefits. Benefits are
generally described as the value that you are gaining from the project, and are
a driving force in project selection.
The types of benefits we look for from our projects are based on
economic, social, cultural, and fulfilling commitments made to our customers
and vendors.

A measure of the prospect of our project being successful
is defined as completing objectives and achieving goals set out by the company. The projects will vary considerably in risk
and complexity. By keeping in mind
feasibility when picking a project means the project that can be completed
easily while providing significant benefits will be given priority.

Agencies are viewed as strategic partners, which are
defined as both parties working closely together and are motivated, established
on mutually concurred upon the business objectives. The criteria being utilized is as follows:

– Talent and Functional Expertise

– Account Management

– Industry/Category Expertise

– Executional Excellence

– Creativity

– Innovative and/or Technologically Advanced

– Cultural Fit

– Adaptable to Change

– Demonstrated Commitment to being collaborative with other
partners

The commonality with the above 10 listed criteria is they
are all defined as qualitative standards.
The quantitative analysis will add to the decision making process, but
won’t drive the decision in one direction vs. another direction. The outcomes of our ongoing evaluations will
indicate a few underlying issues that go on to exist without a corrective
action plan finished.

The selected project is a combination of talent,
functional expertise, industry, creativity, innovation, cultural, and being
able to adapt to change. This business
was thought up because of the experience of planning a wedding. The creativity and innovation would only enhance
this business with technology that would allow customers to pick form a pre-designated
list of vendors. The customer could
either pick and choose themselves or be assisted by the staff. Culture will
always play a part in events that people plan, so the business will have to
adapt to the ever changing and surprising demands of the customers.

Final Project Charter

Background.
This
project is a dream of the stakeholder.
To create and build a desirable event location for weddings and events
of importance that can have 50-300 people.
This business would have researched a large list of needed vendors for
any event and possible provide them at a discount to customers. The business will also have a useful app for
electronic devices that the business and customers would use to plan their
events. The stakeholders realized this
dream while planning their own wedding and actually going through the time
consuming research and stressful planning.
This drove them to start this endeavor.

Objectives.
To
design and build a wedding and special event venue at a desirable location that
would draw in customers because of its easy planning and competitive rates.

Scope.
To
obtain 10+ acres, design buildings and landscape desirable enough to be coveted
by customers for weddings and special events.
To build a vendor cliental that would provide quality and desired
services for these events, and to combine this information into an easy
planning application for use by the customers and modifiable by the business
staff.

Constraints.
The
constraint on this project is funding.
Each phase of the project will not start until the funding is raised by
the stakeholder. This is in place so the
business will have as little overhead as possible in the form of debt or loans
as possible. Other overhead reduction
plans will include water wells, solar panels, and no need for a large
staff. The time in-between phases will
allow for extensive research on the following phases.

Assumptions.
Assumptions
on this project are the costs set up on the initial planning phase because the
time frame between phases are unknown which might cause pricing to change.

Roles
and Responsibilities.The roles on this project are:

·
Business/executive sponsor – receives
regular updates, secures budget for the project, attends regular project review
meetings, and is the final decision maker for the project.

·
Project team/User group – Lead by the
project manager must include: vendor representatives, technical expertise, and subject
matter experts (SMEs). All of which are responsible for user acceptance and
testing the products or service.

·
Vendors – Any vendor contracted to
supply products or services the project/business.

Deliverables.
Land
that is landscaped with gardens and building suitable for weddings and special
events. An application that is easy to
use by both the business and customers that will store customer information and
vendor data.

Preliminary
Project Plan

Date: 04/10/2015

1. Project
title: Wedding/Event Business

2. High-level
project scope

·
Design/Plan/Build at a desirable
location an indoor/outdoor weddings and events venue.

·
Have vendor available for customers
categorized by cost with examples of each vendor available for customers to
choose based on the customers budget.

·
Have an App designed to assist in
planning events at this business.

·
Assist in planning customer events.

3. Problem
to be solved or opportunity to be realized by this project.

Find suitable land in the Dallas/Fort
Worth area. Research available vendors
that fit the business needs. Research an
App developer that will suit our specifications.

4. Project
purpose or justification including specific measurable business impacts or
results

The purpose of this project is to build
a business that has a small overhead costs by using natural resources like
water wells and solar panels to bring a significant cost savings to its
customers. Another benefit to the
customer is to have vendors researched and listed for customers to pick so the
customer doesn’t have to do the research.

5. Measurable
project objectives and related success criteria including metrics

·
Having available vendors for customers to
choose for their event in order to save time for the customer

·
Having a desirable location in regards
to buildings and garden areas.

·
Having a useful tool for customers and
management to use when setting up the event (Also to save time for customer and
management).

·
Having an affordable event that would
rival other business in the same market.
Costing at least 10% less than other business in the same market.

6. High-level
requirements

Locate 10+ acres suitable for this
business. Design and build buildings and
gardens. Negotiate with vendors to have
available for weddings/events. Acquire
tables, chairs, and linen in various colors.
Design and have made wedding app for customer and business use.

7. High-level
risks

Building customer base because our
business will be new to the market.
Customer satisfaction is key (beware of bridezillas)! Build slowly to limit overhead costs (stay
away from business loans).

8. Summary
of high-level milestones schedule.

Scheduled
milestones are based on when funds are available for each milestone. Purchasing land with trees and land rights
for water well, and solar panels will be the first milestone. The water well will reduce overhead costs on
gardens and a man-made lake.

The
second milestone will be dividing up the land into for areas, three that can
have events going simultaneously and one area for a house to be built
later. This milestone will include designing
the land, gardens, and buildings to be used for events.

The
third milestone is having the first building built, water well dug, lake and
gardens completed. Tables, chairs, and
other supplies stocked. This will be the
most time consuming of all milestones.
Once this milestone is completed the business can start generating an
income.

The
forth milestone is having a second event build built with garden area. Tables, chairs, and linens will also be
acquired. Once completed it too can
start generating an income.

The
fifth milestone is having the third event building and garden area
completed. Tables, chairs, and linens
will be acquired. Once completed these
buildings can start generating income.

9. Summary
of high-level budget including expense dollars, capital dollars, and headcount.

None
of this project will be using borrowed money, therefore each milestone will
come from the savings of the owners.
This is to cut financing overhead costs and to start the business
without it being in debt. Once funds are
available each phase can start. Much of
the work for this project will be done by the owner/stakeholder to reduce
costs.

Land cost roughly $200,000

Design land/building/gardens $0 (Done by
stakeholder)

First building/gardens $80,000

Purchasing Tables and chairs $5000

Second building/gardens $80,000

Purchasing Tables and chairs $5000

Third building/gardens $80,000

Purchasing Tables and chairs $5000

References

Project
Management Institute. (2008). A guide to the project management body of
knowledge:

PMBOK® guide(4^th ed.).Newtown Square, PA: Author

Kerzner, H. (2013).
Project management: A systems approach to planning, scheduling, and controlling
(11th ed.). Hoboken, NJ: John Wiley & Sons.

Turabian, Project
Management Institute. A Guide to the Project Management Body of Knowledge
(PMBOK Guide). Newtown Square, Pa: Project Management Institute, 2004.