proposal

Competencies

• Identify the role projects play in meeting the goals of an organization.
• Explain the activities that occur when initiating a project.
• Classify the components of project planning.
• Evaluate project implementation techniques.
• Evaluate project performance.
• Distinguish project management methodologies and tools.

Scenario

You are a Senior Project Manager for JBH Software Solutions and are about begin on a new project and training a new associate at the same time. The scope of the project is a total system upgrade for the customer service area. The project has a budget of $15 Million and has a duration of 24 months for completion. Since you are the Senior Project Manager, upper management is looking to you for guidance and best practices for the project management lifecycle at JBH.

Instructions

Create a project plan for JBH Software Solutions that includes required documentation such as business case, risk mitigation plan, communication plan, scope statement, scorecard, and project timelines. Include details about methodologies and tools used to manage the project. Review the deliverables from prior modules as a guide to complete this assignment.

Running head: PROJECT PROPOSAL 1

PROJECT PROPOSAL 2

Acquisition Project Plan

Mekdes Asaminew

Rasmussen College

04/8/2020

Acquisition Project Plan

Project Description

Kingston-Bryce Limited (KBL) is a custom furniture manufacturer. The company specializes in the production of hand-crafted dining room tables. As an attempt to enhance its competitive advantage, KBL has decided to acquire one of its closest competitors that deal with custom furniture. The acquisition of the company will allow KBL to expand its operations and increase its market share. Besides, increasing the size of the organization will triple the workforce of the company, thus enhancing efficiency and productivity. According to Kokemuller (2020), a large workforce promotes diversity in the organization, which is beneficial in terms of creativity and overall productivity. As a result, the purchase of the company is critical to KBL in meeting its organizational goals.

Tasks and Milestones

Tasks and milestones are critical components of a project plan. The project tasks involve activities of the larger project that have been divided into manageable parts. Milestones, on the other hand, are elements in the project schedule that show the progress of the project. Milestones are also essential for estimating the completion time of the project. The acquisition of the competitor by KBL entails three phases; preparation, transaction, and implementation. In the preparation phase, the company develops and an acquisition plan that will enable them to purchase the target firm. The plan entails a communication strategy that will be used by KBL to reach the target company and how they will present their offer to the management. This task will take a maximum of three months to be completed.

If the target company accepts the offer, KBL will begin the valuation analysis of the organization. This process, which will take approximately three months, involves analyzing the financial components, including key performance indicators (KPIs) and key financial ratios such as profitability and liquidity ratios and solvency ratios. Gadoiu (2014) indicates that financial analysis helps in providing valuable information about the company, such as profitability and efficiency. As a result, valuation analysis is essential during the acquisition of the target company.

The next phase in the project plan is the transaction between the two companies. Kingston-Bryce will initiate the negotiation process if they find the target company to be attractive for acquisition. Negotiation is the most critical part of the project and will take at least six months to be completed. The tasks involved in the transaction phase include due diligence, the configuration of the offer, and preparation of a contract for the takeover. According to Savović (2013), transactional due diligence allows the company to determine if they collected accurate information necessary for the takeover. The process also involves agreement on the mode of payment and other underlying requirements essential for completing the acquisition. Implementation of the plan will be the last phase of the project. The tasks undertaken in this process include the execution of the contract and the closing and integration of the project.

Timeline for the Project

The duration of the acquisition project is 18 months. The project timeline will be divided into three major phases; initiation of the acquisition project, transaction, and implementation. The initial phase (preparation) of the project will take three months to be completed, while the transactions will take six months since there are several tasks involved in the process. On the other hand, the implementation process will take a maximum of 6 months to be completed. The closing and integration of the new acquisition will be completed in three months.

Key Stakeholders

Successful implementation of the acquisition project requires the recognition and involvement of key stakeholders. The most critical group of stakeholders during acquisition is the employees. Kingston-Bryce should consider the opinion of its workforce before the acquisition to avoid resistance during the implementation of the project. Other key stakeholders that should be involved in the project decision-making include investors, lenders, advisors, suppliers, and government regulators. These stakeholders have significant influence; therefore, their needs and wants should be considered.

References

Gadoiu, M. (2014). Advantages and limitations of the financial ratios used in the financial diagnosis of the enterprise. Scientific Bulletin-Economic Sciences, 13(2), 87-95.

https://pdfs.semanticscholar.org/7713/5df68d0e2b5d3c335f41ae1bc5e7651c204b

Kokemuller, N. (2020). Advantages & Disadvantages of Having a More Diverse Workforce. Retrieved from

https://smallbusiness.chron.com/advantages-disadvantages-having-diverse-workforce-22935.html

Savović, S. (2013). Due diligence as a key success factor of mergers and acquisitions. Actual Problems of Economics. 6. 424-434.

Running head: ACQUISITION PLAN 1

ACQUISITION PLAN 2

Acquisition Project Plan

Mekdes Asaminew

Rasmussen College

04/18/2020

Acquisition Project Plan

Project Scope

The scope of the project is a vital component of the project management plan. It defines the extent and boundaries of the project. The project scope includes a list of tasks, deliverables, costs, and objectives. The scope helps project team members in making critical decisions since it states the responsibilities and boundaries of the project. As a result, the project scope is essential for the successful completion of the acquisition project.

The main objective of this project is to acquire one of its competitors who will enable Kingston-Bryce Limited (KBL) to expand its operations and increase the workforce. The acquisition of the competitor is expected to elevate the performance of the organization through an efficient reduction of cost and revenue growth. Another goal of the project is to create a new market for the company. According to Po (2015), acquisition and mergers (M&A) provide an opportunity for companies to sell their products in a new market. Additionally, the acquisition project objective is to diversify its business operations. Currently, KBL specializes in the production of hand-crafted dining room tables. Therefore, acquiring the competitor will allow the company to venture into the production of custom furniture.

The deliverables of the acquisition project are categorized into four phases. Phase one of the project involves defining and explaining the decision to acquire another company. The step includes detailing the importance of acquisition to the company, both short and long-terms. The approach helps in convincing key stakeholders to back up the project plan. The second phase of the project is identifying and screening the target company. Deliverables in this phase include due diligence of the identified companies, quick valuation, and shortlisting potential competitors for acquisition. During stage three of the project, the management will deliberate on shortlisted companies and rank them according to preference. A company with the most desirable outcome will be selected for acquisition.

In this case, Kingston-Bryce Limited will select a custom furniture manufacturer. Other critical tasks in this phase include the negotiation of the deal and the signing of the contract. According to Chaves (2012), both parties sign a confidentiality agreement form where they consent to share all business, legal, and financial information regarding their companies. The agreement allows KBL to conduct due diligence and estimate the value of the competitor using the discounted cash flow (DCF) method. On the other hand, the agreement enables the seller to determine the ability of KBL to acquire their company. The final phase of the project involves the integration of the company into the organization. This process includes integrating the HR, IT, and other critical operation components of the competitor into the KBL organizational system. The process also allows KBL to take control of the new company.

Funding Schedule

The funding schedule refers to the plan through which the company will finance the project. Usually, the project sponsor is responsible for availing resources necessary for the successful completion of the project (Pinto, 2009). In collaboration with the project manager and key stakeholders, the project sponsor prepares the project budget, which is submitted to the KBL’s board of directors for approval.

The board had allocated the acquisition project $5 million, and the funding will be done in three cycles. In the first cycle, the project will receive $1 million, which will cover all the costs incurred in the first, second, and part of the third phases of the project, including due diligence, valuation, and negotiation. The funding in the second cycle is $3 million, and this will be used to acquire the competitor and to seal the deal. The funding in the final phase will be $1 million, and this will go to the integration expenses, including the transfer of data, HR and IT integration, and training of the new workforce.

Timelines for the Acquisition

The acquisition project will take 18 months to complete. The initial stage, which involves the definition and planning of the project, will take 3 months. Some of the tasks that will be completed in this phase include identification of key stakeholders, approval of the project, budget preparation, and establishment of the project team. Other tasks include the delegation of roles and responsibilities and identification of potential risks. The second phase of the project will take 4 months to be completed. During this period, the project managers will lead the project team in identifying potential companies for acquisition and screening them. The team will also conduct a quick valuation and due diligence to determine the best candidate for acquisition. Once this is done, the project manager will compile a shortlist and submit it to the board of management.

The third phase will take 8 months. This phase takes a lengthy period to complete since it involves complex tasks such as in-depth valuation, due diligence, and negations. Other tasks include the application of regulatory approval and contractual signings. The final phase will take 3 months to be completed. Majorly, the project team will be focusing on the integration of the new acquisition into the organization. Some of the tasks involved are IT integration, HR integration, training, and data transfer.

References

Chaves, S.F. (2012). Development of a Project Management Methodology for Supporting Mergers & Acquisitions (M&A). Industrial Master of Industrial Management (IMIM),

http://www.diva-portal.org/smash/get/diva2:556304/attachment01

Pinto, J. Â. C. (2009). Financing the project. Paper presented at PMI® Global Congress 2009—EMEA, Amsterdam, North Holland, The Netherlands. Newtown Square, PA: Project Management Institute.

Po, D. (2015). Benefits of mergers and acquisitions to strategic buyers and impact on post-merger integration. Retrieved from

http://app1.hkicpa.org.hk/APLUS/2015/12/pdf/44_Largesource1

Running Head: MITIGATING THE ACQUISITION RISKS 1

MITIGATING THE ACQUISITION RISKS 2

Mitigating the Acquisition Risks

Mekdes Asaminew

Rasmussen Collage

04/27/2020

Mitigating the Acquisition Risks

To: To the Management Department

From: Project Manager KLB

CC: The Planning and Operation Department

Date: 25 April 25, 2020

Subject: Proposed Guideline on the Acquisition Process

Risk avoidance

Kingston-Bryce Limited (KBL) acquisition of her competitor is subject to the legal risk. This type of risk entails the negative consequences the violation of laws and regulations governing the running of businesses (Tanna & Yousef, 2019). With the hasty pressure to acquire the competitor before they are acquired by other rivals in the industry, we would forget to put to consideration business legal compliance procedures which would lead to litigation liabilities. Risk avoidance entails the elimination of business hazards by totally avoiding compromising events. Cognizant of this solution to risks, I would propose that a technical team be formed to assess the various legal compliance needs and striving to meet these needs to avoid instances of legal action against our business. Secondly, the team will ensure that all the party being acquired had no prior legal violations to avoid inheriting a compromised entity. This move will result in avoiding financial losses and reputational damages that result from legal actions.

Risk Transfer

The acquisition process can be marred by the lack of cultural compatibility between the parent organization and the newly acquired institution. This could be characterized by communication breakdown between the new employees and the already existing ones. This incompatibility will result in low employee productivity and the consequent poor organizational performance. Financial uncertainty can also be resulted by the large-scale recruitment of employees. This could lead of business financial incapacitation and the eventual crumbling. Risk transfer is the shifting the negative impact of the uncertain events. Under these contractual agreements businesses are shielded by the adverse effects of some occurrences (Bonaime et al., 2018). I propose that KBL engage in new insurance schemes that will cover the organization in the event that these financial losses affect the livelihood of businesses. This will reduce the likely financial vulnerability of the business.

Risk Reduction

The hasty process to acquire the competing institution before rival organizations embark on the safe processes might result in poor evaluation of the new organization’s assets a situation that would result in overpayment by the parent business firm. Additionally, the process would lead to poor evaluation of employee value and the consequent laying off of key staff and the employment of relatively incompetent operatives. This would result in the weaving of a relatively defective workforce and the consequent poor output of the staff. Risk reduction entails the lessening of the negative effects resulted by uncertainties in the practice of doing business (Li et al., 2018). In our case, the acquisition of a new entity we should embark of outsourcing a competent team that will evaluate skills of new employees against the skills needed in the various new departments. The outsourced teams will also be charged with the responsibility of restructuring departments to enhance efficiency. This will reduce the risk of poor employee productivity and the likely financial and reputational losses associated by the uncertainty ahead.

Risk Sharing

The new development, where KLB will acquire their competitor and the coming hiring of new staff to run the newly established huge corporation could lead to poor staff and poor organizational systems which would affect the existing working cultures exposing the company to financial failures and being outdone by rival businesses. Risk sharing entails the diminishing of vulnerabilities from uncertainties by distributing the negative effects to the different departments and personalities to lower the damage caused on single entities (Green, 2016). To apply this to our upcoming situation, KLB should diversify its production so as to make revenues from some ventures as others suffer a beating from the uncertainties.

References

Bonaime, A., Gulen, H., & Ion, M. (2018). Does policy uncertainty affect mergers and acquisitions?. Journal of Financial Economics, 129(3), 531-558. Retrieved from;

https://www.sciencedirect.com/science/article/abs/pii/S0304405X18301338

Green, M. B. (2016). Mergers and acquisitions. International Encyclopedia of Geography: People, the Earth, Environment and Technology, 1-9. Retrieved from;

https://onlinelibrary.wiley.com/doi/abs/10.1002/9781118786352.wbieg0196.pub2

Li, K., Qiu, B., & Shen, R. (2018). Organization capital and mergers and acquisitions. Journal of Financial and Quantitative Analysis, 53(4), 1871-1909. Retrieved from;

https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/organization-capital-and-mergers-and-acquisitions/E885C3A16B7483E0BE72A98B70954135

Tanna, S., & Yousef, I. (2019). Mergers and acquisitions: implications for acquirers’ market risk. Managerial Finance. Retrieved from;

https://www.emerald.com/insight/content/doi/10.1108/MF-09-2018-0446/full/html

Running head: BUSINESS PROPOSAL 1

BUSINESS PROPOSAL 5

A Communication Plan

Mekdes Asaminew

Rasmussen College

05/01/2020

Introduction

A communication plan is an approach, which is policy driven and meant to issue guidance to stakeholders as well as employees within an organization. This plan is essential as it classifies people who should be assigned specific info, the communication channels to be included so that the information can be delivered and what information needs to be sent (Foster, 2018). In this plan, there is also identification of people who should communicate, passive information that is of high value or that is sensitive and what methods, for example emails, face-to-face, or video conferencing should be used to disseminate the info (Foster, 2018). This paper contains a KBL communication plan developed with strategies to will be used by the Board of Directors to encourage the KBL team to perform Microsoft Word project work.

Project kickoff welcome email

Hey everyone, we are glad to kickoff this project of performing Microsoft Word work with our very own Kingstone-Bryce Limited team members like you. The company hopes that we can all work together and collaborate so that at the end of the day we will be able to achieve the goals and objectives of the project at hand. Our big and general goal is using Microsoft Word in performing our project. Microsoft Word is an ideal that can adopted in this project for the better outcomes so we have to get the MS Word installed and running through.

Each member within this team will have a defined role which he or she will conduct throughout the project (Heldman, 2018). John will take the lead as the project manager, Christine will lead the copywriter team, Jane who is the art director will have Mary and Peter helping her through and Johnson will work alongside Andrew and Bill on the tech side. Since we have two teams in this project which are: the KLB employees and our competitor’s employees, we will get to know each other as time goes on. We have discussed about this project for days and I think the right time is in front of us deliver. Let us all make KLB proud not forgetting our customers. Let us make it happen because we know what to do. We have attached the specs of the project so that everyone can know where to it. Please share all related files about the project on KLB website link so that we can document and archive everything. This meeting was an email made one, where the same email was copied to involved participants.

Project summary updates

I think as per now all of you understand our project. Our projects name is Microsoft Word Launch and the project is on track. The project manager and the team are in the concept phase, which means a topic for this week is not yet chosen but the tech and design teams are ready once the green light is given. Since the overall topic is not yet given, the planning team have had several meetings to try and bring it on table. So far, the presented ideas are four but the final meeting will be held on Monday to come up with the best out of the four. A brief will be carried on before the week ends because of the content team.

The content team is ready to writing a content copy as soon as we finalize our idea. The content team is also gathering some info about KBL before presenting it to the tech team. By the end of next week, the design team will have come up with the style of MS Word and a template will be choose. To touch on the highlights, Johnson will be away on the tech team so any questions should be directed to Andrew. Some of the challenges we have include the tight deadline to complete the project shape (MacAulay, Spilker, Berg, & Merrill, 2017). You should all understand that we are working hard to keep all members organized and understanding their role. This meeting was presented to stakeholders via the email.

Project closing executive summary

The team really did a presentable job and I can give an applause to all participants. We were able to meet all our objectives including the set goals. The project-stakeholders were send some copies of the deliverables that we were able to meet. I would like to congratulate everyone who participated in making KBL Company proud by bringing positive deliverables. We need to take the same follow ups for our future projects. It’s always advisable that when conducting a project to keep in mind that teamwork is an appropriate aspect for sufficient deliveries (Svendsen, Hansen, & Dorte, 2018). This meeting was a face-to-face meeting that included the project manager, the sponsor of the project, the entire project team and the Board of directors for Kingston-Bryce Limited

References

Foster, A. (2018). A Communication Plan for Organizational Effectiveness in a Youth Development Organization. Retrieved from

https://scholarlycommons.pacific.edu/uop_etds/3116/

Heldman, K. (2018). PMP: project management professional exam study guide. John Wiley & Sons.

MacAulay, K., Spilker, E., Berg, J., & Merrill, E. (2017). Ya Ha Tinda Carnivore Diet Analysis: Project Update. Retrieved from

http://www.wsfab.org/sites/default/files/projects/Ya%20Ha%20Tinda%20Carnivore%20Diet%20Analysis%20Study_Update%20May%202017

Svendsen, M., Hansen, C. R., & Dorte, A. (2018). Open Access Monitor-DK: Concluding Conference and Executive Summary. Retrieved from

https://www.forskningsdatabasen.dk/en/catalog/2441935402

RUNNINGHEAD: PROJECT SCORECARD 1

PROJECT SCORECARD 2

Acquisition Project Scorecard

Mekdes Asaminew

Rasmussen College

05/13/2020

The acquisition project will be scored based on metrics in the following four distinct cohorts; Timelines, Project duration, budget and meeting frequency (Scheiblich, et al., 2017).

Timelines

The overall project has been divided into milestones and tasks which has further been broken down into work breakdown structure. Each of these work breakdown structures have timelines for completion and interdependence upon the completion of each of the tasks and the allocated resources. The overall structures need to meet the timelines that have been clearly set and defined according to the initial budget. The phases initially were to take 3 months, 6 months, and 3 months for the initiation, transaction and completion phases respectively. However, because of unavoidable circumstances that led to more time being used in the initiation process, during the valuation process. The company to be acquired required much time to complete their financial evaluation n and the period extended to three and a half months. The other timelines are however in place according to the budget.

Project duration

The project is estimated to take 18 months from the sign off to the closeout and post project analysis for business benefit. The project has been divided efficiently into three phases with each of them having a definite timeline for completion. With risk mitigation strategies to respond either positively or negatively to risks, it is expected that the overall period of the project will still be maintained at 18 months for the completion and deliverables of the project.

Budget

The project was allocated a total of $5 million. The initial budget will however be inadequate to complete the project successfully because of some overruns. Among these overhead costs were, the risk of suppliers increasing prices required to supply the materials needed (Yao & Liu, 2016). Also, because the key financial analysis step took time, it is expected that the initial amount required to complete this process might be relatively higher. The funds allocated to the training of staff and integration process was $1 million. After consideration, given the organizational culture of the firm to be acquired, there might need to be more funds being allocated into the training of staff, merging of departments and additional training of key personnel to take up some vital duties in the merged organization. These variables that are different from the initial plan will see to it that the initial budget and the actual budget are not matched, with the initial budget being relatively lower to the actual budget required to complete the project.

Meeting frequency

Because of the need to stay in line with the initial agreements outlined in the project sign off, meetings will need to be held more frequently. These meetings will involve the project team, the manager and key stakeholders according to the need. They will be held once every two weeks to assess the project. The main agendas of these meetings will be to discuss the project progress, to review the processes if they are in line with the agreed outlines and to review risks that may be met along the way. Also, there may be need for proactive thinking to come up with better project deliverables and one that covers a wider scope. From these meetings, it is expected that there will be resolution of problems and conflicts that may occur in the lifecycle of the project. A s a result of these meetings also, it is expected that there will be more focus towards completion of the project and delivering the expected outcomes.

References

Scheiblich, M., Maftei, M., Just, V., & Studeny, M. (2017). Developing a project scorecard to measure the performance of project management in relation to EFQM excellence model. Amfiteatru Economic, 19(11), 966-980. Retrieved from https://www.ceeol.com/search/article-detail?id=678093

Yao, J., & Liu, J. (2016). E-Government Project Evaluation: A Balanced Scorecard Analysis. Journal of Electronic Commerce in Organizations (JECO), 14(1), 11-23. Retrieved from https://www.igi-global.com/article/e-government-project-evaluation/156549

Running Head:

PROJECT MANAGEMENT METHODOLOGIES & TOOLS

1

PROJECT MANAGEMENT METHODOLOGIES & TOOLS 5

PROJECT MANAGEMENT METHODOLOGIES & TOOLS

Mekdes Asaminew

Rasmussen College

05/16/2020

FAQ document

What are project management tools?

These are the instruments which project managers use to plan, execute as well as manage plans in one centralized virtual location. These tools vary from team to team depending on the tasks to be performed in the project. The project management tools include; project management software, real-time instant messaging tool, knowledge base tool and file sharing tool.

What is project management software?

This is computer software which helps the project team members to collaborate during the project, plan all their activities as well as to record all the collected data.

What is a real-time instant messaging tool?

It is a tool that allows team members of a particular project to talk and video call with colleagues in real time. This tool helps improve collaboration of the team members and allows all people to collectively provide their opinions on different matters during carrying out the project.

What is knowledge base tool?

It involves a search database that allows individual to store the combined wisdom of the team members and ensures that the information is accessible to all members

What is a file sharing tool?

It is a tool which allows people to save sync and share files. It ensures that all the documents provided by team members are well stored and easily retrievable for future reference. (Bilal.et.al, 2017)

What are project management methodologies?

Project management methodologies are basically the different techniques which are used to approach a given project; every methodology of project management has its unique process and workflow. They are classified into “traditional or sequential methodologies, agile methodologies, the change management methodologies and process-based methodologies.”

What are the traditional or sequential methodologies?

These are the methods of managing a project which involve a sequence of tasks which lead to the final deliverables and project managers are required to ensure that the tasks are worked on them in a given order. The methodologies classified under this category include;

· Waterfall project management methodology; involves completing a certain task before beginning another task in a linked sequence of objects which adds up to the general goal. It is used in projects that create physical objects like building a computer.

· Critical path method; it involves prioritizing and allocating available raw materials to ensure the most crucial task is done as well as rescheduling lower priority task.

· Critical chain project management; involves a technique for putting main concentration on the needed materials.

What are agile methodologies?

These are project management methodologies which prioritize on shorter iterative cycles and flexibility. They are categorized into;

· Scrum; involves a framework where the team members are led by a scrum master who clears away all challenges to ensure that tasks are carried out.

· Kanban; involves implementing agile depending on the team members capacity to work.

What are the change management methodologies?

There are techniques of managing project with an extra focus on managing changes such as risk planning and controlling changes when it happens (Chandna.et.al, 2019). The methods that fall under this category include;

· Event chain methodology; involves preparing for risks that lie out of the project’s compass.

· Extreme project management; involves managing huge changes and moving ahead to complete the project.

What is process-based methodologies?

These are methodologies of managing projects which state that the project tasks are compilations of processes. They include;

· Lean; it is a methodology which concentrates on streamlining the processes of the project as well as cutting out wastes.

· Six sigma; involves looking to advance the process quality through using statistics to measure defects presents and eliminate them.

References

Bilal, H. A., Amjad, S., & Ilyas, M. (2017). A Comparative Study of Global Software Development Tools Supporting Project Management Activities. International Journal of Education and Management Engineering, 7(6), 32. Retrieved from http://j.mecs-press.net/ijeme/ijeme-v7-n6/IJEME-V7-N6-4

Chandna, K., Vine, M. M., Snelling, S., Harris, R., Smylie, J., & Manson, H. (2019). Principles, approaches, and methods for evaluation in Indigenous contexts: a grey literature scoping review. Canadian Journal of Program Evaluation, 34(1). Retrieved from https://cjc-rcc.ucalgary.ca/index.php/cjpe/article/view/43050