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    D/508/9883 - Identify potential risk associated with proposed project of BMW

    University: UK College of Business and Computing

    • Unit No: 19
    • Level: Undergraduate/College
    • Pages: 2 / Words 451
    • Paper Type: PPT
    • Course Code: D/508/9883
    • Downloads: 760
    Question :
    '

    The purpose of this report is to explain operational plan and budget, sample procedures, a monitoring plan, a risk assessment and a contingency plan or other types of documents that can assist to undertake a project.

    • Evaluate the project and key players of this project.
    • Explain the procedure that determine how project was sponsored and supported by stakeholders.
    • Discuss project narrative and develop a project plan, and prepare a comprehensive budget for BMW.
    • Identify potential risk associated with proposed project of BMW.
    • State the requirement of financial, technical, human and physical resources for the specified project.
    '
    Answer :

    INTRODUCTION

    Undertaking project implies selection and implementation of new and attractive business ideas that leads to success of an enterprise. Various individuals are associated with project which they carried out effectively. Key stakeholders are required to be analysed along with their contribution towards implementation of unique ideas in business operations.  In this context, new idea for introduction of electric cars in an automotive industry has been designed for BMW (Kerzner and Kerzner, 2017). It is the German luxury auto mobile, motor cycle and Engine manufacturing company.  The brand usually produces motorcycle under that BMW motored and plug in wide electric cars.  An idea for introduction of electric cars is effective because it is less implemented by other companies. Apart from manufacturing of Luxurious cars, this company will develop electronic cars which can also be affordable for middle class people of UK. 

    1. Project Stakeholders 

    BMW is an international Automotive sector company which widely interconnected with people in different countries which helps them in  regulation of business operations. These individuals or parties are analysed stakeholders of company such as shareholders, customers, competitors, suppliers and government. Customers are key stakeholders of business that exist in an external business environment (Burke, 2013). For any introduction of new idea of developing electronic cars, it is essential for the company to analyse information. Suppliers are also important stakeholders from whom company will get accessories and raw material to manufacturing products and services. Employees also play an important role in introduction and success new business idea. Government is also another analysed key stakeholder which provides licenses and permission to BMW. Further, shareholders are individuals whom company had offered its shares and they provided financial support to organisation in implementing new business ideas. 

    2. Role in planning and delivering project

    A project manager has the responsibility to set objectives behind implementation of new business ideas. Strategic planning has been accomplished for completion of project.  It is responsibility to deliver the project; task was assigned to project team which is formulated by top-level management (Schwalbe, 2015). Managers was responsible  to communicate outcomes of research which is carried by research team on introduction of new electronic cars.  Further, designing and application of appropriate project management standards for incorporation was key task  to be  accomplished. Evaluation of performance and motivation of a project team is also analysed.

    Apart from this, management for project risks and involvement of development of contingency plans were also important which supported in achievement of expected results. Appropriate monitoring and control strategies will implement to achieve objectives. At last, expected results and actual outcomes of project are compared to analyse achievement of goals and objectives

     

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