BUS 517 Discussion 2 Assignments

BUS 517 Discussion 2 Assignments

Using the discussion response from last week (posted below) continue this weeks discussion with the “Project Budget”
 
• Last week, you were given control of a project. You have properly defined your project. Now, it is time to estimate your budget. Your Project Sponsor has set a limit on the amount of money you can spend. You know your budget will exceed what that limit is.
Using the information covered in the required readings, describe the key components of your budget that you will need, as well as how long it will take to complete it (using the materials we covered this week), and why it exceeds your Sponsor’s limit.
 
Week 3 Discussion: Developing Your Project Scope
You have been hired to lead a complex, two-year project (the project of your choice). As the Project Manager, you know it is important get the project off to a good start. Using the tools provided in the required readings, provide a quick summary of your project, including the scope and at least three goals and objectives of your project.
After posting your response, respond to at least one (1) of your classmates on their suggestions.
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Our company has dwelled in the local markets for almost seven years now, and the company needs to expand as well as venture into the international market. The company is a dietary supplement drug manufacturing company. The organization’s project is to expand the reach of the company. The expansion market will involve producing new products as well as moving into new markets. The main goals of the expansion market are for the company to expand, grow and generate more incomes through the new markets. The company can arrive at the expansion by producing a new drug (Storey, 2016). The company needs to research, develop, produce and sell the drug targeting deficiency diseases.
The company’s executive staff, as well as the board of directors, will review the financial analysis of what the shift would mean to the company. They will evaluate the profits that would be as a result of the changes (Kasemsap, 2018). The company will proceed and start producing new drugs.
Through the expansion project, the main goals of the company will be increased in the revenues, growth as well as a boost to its bottom line (Haynes, and Grensing, 2016). To get the project underway, the company will need additional space as well as the installation of the equipment that will cost $50,000.  The shipping and the installation charges are expected at $5000. For the company to be able to operate effectively, they will need to add about $7,000 to its networking capital. Within the first year, the company expected to make additional revenues of $40,000 above the level that the company would have prevailed without the addition. The incremental revenues are expected to grow to $60, 000 within the second year.
References
Haynes, M., & Grensing, G. (2016). Vadnais Heights Business Retention and Expansion Strategies Program. Retrieved from https://conservancy.umn.edu/bitstream/handle/11299/197822/2016-vadnais-heights.pdf?sequence=1
Kasemsap, K. (2018). The roles of information technology and knowledge management in project management metrics. In Global Business Expansion: Concepts, Methodologies, Tools, and Applications (pp. 1191-1221). IGI Global. Retrieved from https://www.igi-global.com/chapter/the-roles-of-information-technology-and-knowledge-management-in-project-management-metrics/202266
Storey, D. J. (2016). Understanding the small business sector. Routledge. Retrieved from https://content.taylorfrancis.com/books/download?dac=C2016-0-95236-1&isbn=9781134838554&format=googlePreviewPdf

BUS 517 Discussion 2 Assignments

 

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BUS 517 Discussion 2 Assignments

Using the discussion response from last week (posted below) continue this weeks discussion with the “Project Budget”
 
• Last week, you were given control of a project. You have properly defined your project. Now, it is time to estimate your budget. Your Project Sponsor has set a limit on the amount of money you can spend. You know your budget will exceed what that limit is.
Using the information covered in the required readings, describe the key components of your budget that you will need, as well as how long it will take to complete it (using the materials we covered this week), and why it exceeds your Sponsor’s limit.
 
Week 3 Discussion: Developing Your Project Scope
You have been hired to lead a complex, two-year project (the project of your choice). As the Project Manager, you know it is important get the project off to a good start. Using the tools provided in the required readings, provide a quick summary of your project, including the scope and at least three goals and objectives of your project.
After posting your response, respond to at least one (1) of your classmates on their suggestions.
Click Here to Place Order
Our company has dwelled in the local markets for almost seven years now, and the company needs to expand as well as venture into the international market. The company is a dietary supplement drug manufacturing company. The organization’s project is to expand the reach of the company. The expansion market will involve producing new products as well as moving into new markets. The main goals of the expansion market are for the company to expand, grow and generate more incomes through the new markets. The company can arrive at the expansion by producing a new drug (Storey, 2016). The company needs to research, develop, produce and sell the drug targeting deficiency diseases.
The company’s executive staff, as well as the board of directors, will review the financial analysis of what the shift would mean to the company. They will evaluate the profits that would be as a result of the changes (Kasemsap, 2018). The company will proceed and start producing new drugs.
Through the expansion project, the main goals of the company will be increased in the revenues, growth as well as a boost to its bottom line (Haynes, and Grensing, 2016). To get the project underway, the company will need additional space as well as the installation of the equipment that will cost $50,000.  The shipping and the installation charges are expected at $5000. For the company to be able to operate effectively, they will need to add about $7,000 to its networking capital. Within the first year, the company expected to make additional revenues of $40,000 above the level that the company would have prevailed without the addition. The incremental revenues are expected to grow to $60, 000 within the second year.
References
Haynes, M., & Grensing, G. (2016). Vadnais Heights Business Retention and Expansion Strategies Program. Retrieved from https://conservancy.umn.edu/bitstream/handle/11299/197822/2016-vadnais-heights.pdf?sequence=1
Kasemsap, K. (2018). The roles of information technology and knowledge management in project management metrics. In Global Business Expansion: Concepts, Methodologies, Tools, and Applications (pp. 1191-1221). IGI Global. Retrieved from https://www.igi-global.com/chapter/the-roles-of-information-technology-and-knowledge-management-in-project-management-metrics/202266
Storey, D. J. (2016). Understanding the small business sector. Routledge. Retrieved from https://content.taylorfrancis.com/books/download?dac=C2016-0-95236-1&isbn=9781134838554&format=googlePreviewPdf

BUS 517 Discussion 2 Assignments