| Objectives | Success Measures | Verification | Assumptions | |
| Goal: | To reach Goal: | |||
| To expand Kitchen Heaven's operations and take advantage of the organization's increasing sales. | 1) Increase the number of Kitchen Heaven stores to 50 2) Have a payback period of 19 months, with an IRR [internal rate of return] of 6 percent. | An audit will be conducted to ensure that the new store is opened within the specified time and budget. Also, an audit will be conducted to see if the new store meets the set financial objectives within the set deadline. | First, the organization will get stakeholder buyin and support for the project. Second, the market in Colorado Springs will be good enough to support the projected sales. Third, the organization will get the $2 million required to fund the project. Fourth, the sales of the organization will continue with the current upward trend once the store is opened. | |
| Purpose: | To reach Purpose: | |||
| To open Kitchen Heaven's 50th store 6 months from now. | 1) Opening of new store by Feb 1 with a grand party. 2) Ensuring the opening coincides with the Garden and Home Show Conference. | The project sponsor will commission the new store on the agreed date. Also, a check will be made to see if the Garden and Home Show Conference contributes to promoting and advertising the new store. | First, the organization will get a lease on suitable property on time. Second, the development of the project will adhere to the budget and time constraints. Third, the new store will receive all the relevant approval and licenses before Feb 1. Fourth, the Garden and Home Show Conference will not be postponed or cancelled. | |
| Outcomes: | To produce Outcomes: | |||
| 1) To create a new store based on the estimated budget within 6 months. 2) To have a Grand Opening celebration for the store.3) To have a payback period of 19 months, with an IRR [internal rate of return] of 6 percent. | 1) Establishment of a new Kitchen Heaven store in Colorado Springs. 2) To have a trade show booth at the Garden and Home Show Conference. 3)To meet or surpass the projected ROI. | The project team will monitor the development and commissioning of the new store and submit a detailed report on the same. Also, the project team will ensure there are Kitchen Heaven representatives in the Garden and Home Show Conference to promote the new store. Additionally, a financial audit will be carried out to validate the financial results of the new store within the 19 month operation period. | First, local authorities will authorize the project and facilitate any necessary licenses. Second, the Garden and Home Show Conference will be held during the set date. Third, there will be a significant customer buy-in to support the required sales to meet the projected ROI. | |
| Inputs: | To obtain & manage Inputs: | |||
| Activities, Resources, and Responsibilities | Resource Budget | Schedule | 1) The project manager will successfully find suitable premises in the Colorado Springs area.2) The budget will be sufficient to cover all resources needed to complete the project.3) The contractor will implement the project at the expected standards and within the time and budget constraints.4) The Garden and Home Show Conference will not be postponed or cancelled.5) The project will receive all the relevant government approvals before the opening date. | |
| Action Steps | Resource | Budget | Due Dates | |
| Outcome 1: To create a new store based on the estimated budget within 6 months. 1.1 Activity 1: Procure the selected property.1.2 Activity 2: Procure the shelving and associated store furnishings.1.3 Activity 3: Hire a contractor for the job.1.4 Activity 4: Contractor transforms the property into a Kitchen Heaven store.1.5 Activity 5: Commisioning of the store. | 1.1 Activity 1: Suitable property meeting the required specifications will be found in the Colorado Springs area.1.2 Activity 2: The budget will be adequate to cover the purchases.1.3 Activity 3: The budget will be adequate to cover the contractor's fees.1.4 Activity 4: The contrctor will be competent enough to meet Kitchen Heaven's standards for the store.1.5 Activity 5: The contractor will Complete the transformation on time. | |||
| Outcome 2: To have a Grand Opening celebration for the store.2.1 Activity 1: Enroll to the Garden and Home Show conference.2.2 Activity 2: Plan the activities to be carried out on the opening ceremony.2.3 Activity 3: Procure the relevant products and services required for the celebration.2.4 Activity 4: Advertise and market the grand opening to the public.2.5 Activity 5: Implement the opening celebration. | 2.1 Activity 1: The Garden and Home Show conference will not be cancelled or postponed.2.2 Activity 2: Relevant stakeholders will come to an agreement on time.2.3 Activity 3: The budget will be adequate to cover the expenses.2.4 Activity 4: The budget will be adequate to cover the marketing expenses.2.5 Activity 5: The project will be completed before the projected opening date. | |||
| Outcome 3: To have a payback period of 19 months, with an IRR [internal rate of return] of 6 percent.3.1 Activity 1: Market the new store to the target audience.3.2 Activity 2: Advertise the diverse products on offer.3.3 Activity 3: Actively engage clients to get their feedback.3.4 Activity 4: Actively engage with employees to get their feedback.3.5 Activity 5: Carry out an audit of the store's financial performance within the 19-month period. | 3.1 Activity 1: The budget will be adequate to cover the expenses.3.2 Activity 2: The budget will be adequate to cover the expenses.3.3 Activity 3: The clients will be receptive to participate in the enhancement of the store.3.4 Activity 4: The employees will be receptive to participate in the enhancement of the store.3.5 Activity 5: The store will get enough sales to meet or surpass the projected financial performance. | |||
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