Project Charter
Project Title: Funky Shea Coffee Company
Background Information:
According to the market forecast for the coffee industry, coffee is the most consumed beverage worldwide (M, 2018). The demand for coffee has increased in the recent years due to the millennial population fueling its growth and craving more options and variety (M, 2018). The average consumer drinks about two cups of coffee per day (Goldschein, 2011). In 2018 an estimated 158 million bags of coffee were sold and produced(M,2018).
Scope:
The scope of this project is to organize, plot, and constitute a modern- retro coffee shop with a drive thru that offers a variety of customizable coffee, tea and breakfast options. The location is set for downtown Tampa, Florida. Downtown Tampa is filled with many businesses and people always on the go but has only a few common coffee businesses in place. With an increasing consumer demand for more options and variety in the coffee industry, this business will fill the niche in the market to compete with companies like Starbucks and Dunkin Donuts. This project will cover all processes from the physical construction of the store to the interior design, set up, management, best practice method and resources needed to start this business.
Objectives:
Construct new building within 6 months
Create Customer awareness through marketing
80% or higher customer satisfaction within the first year of operation
Create a website for business
Invest in google maps listing
Maintain 75% gross margin
Generate at least $50,000 in sales revenue per month
Maintain a high standard of quality and service provided
Create friendly / comfortable atmosphere
Become recognized as “new best coffee spot” in Downtown Tampa
Success criteria:
The success criteria for Funky Shea Coffee company will reflect the requirements that ensure successful implementation and completion of this project. Success in this project is defined as the following:
Complete all tasks within scheduled times
Stay within budgeted amount for project
Minimize delays by Daily, weekly and monthly evaluations
Minimize Risks by enforcing strict protocols
Evaluate employee performance to ensure maximum efficiency
Create a positive culture within the workplace
Strong strategy and practice
Keep up with metrics and track repeat business
Staying competitive within the area/ industry
High repeat business
Funky Shea Coffee Company is planning on proceeding with a customer-oriented approach to ensure that the business will be given the best opportunity to succeed and grow. Funky Shea Coffee Company will focus on provide the highest quality products and services to customers, which will help the company expand its customer awareness.
Proposed Budget/ Timeline:
Funky Shea Coffee Company will set aside a budget to include constructive costs, materials, resources, employment, internal design, equipment, grand opening, marketing and promotions. The set budget for this project is $500,000. The estimate time for store opening is 1 year from the construction date.
Successful implementation of strategic plan for business operations
Hire reputable construction company
Funding for materials, equipment, and resources
Full staff for grand opening
Exceed monthly sales goals
Keep errors/ delays to a minimum
Stay on top of construction schedule
Be attentive and proactive to any setbacks/ deadlines
Manage Material/ product Inventory
Acquire all necessary resources
Align vision, mission and values
Target appropriate age consumers
High Level Project Description/ Boundaries:
The main goal of this company is to develop other options and varieties of coffee, tea and breakfast options for consumers to satisfy the increased demand for the popular beverage/ breakfast on the go concept. Considering the demographics of the downtown Tampa, this business will be fulfilling a niche market of increasing coffee businesses and competition in the area. By opening Funky Shea Coffee Company, the business should be able to achieve their goals of meeting their monthly sales goals with competitive pricing, quality and service. The new presence in the community will help attract customers, revenue and repeat business once they experience the high-quality service and options that Funky Shea has to offer.
Boundaries related to this project consist of:
Thoroughly training all employees
Having sufficient amounts of product to meet consumer needs
Installing all necessary utilities
Organized work schedule
Written policies and procedures for each process needed to run the business
Schematic/ store set up
Smart Location choice/ marketing strategy for area
Limiting changes to construction schedule
Assumptions:
Funky Shea Coffee Company is assuming that by investing in the niche market in the downtown Tampa area and expanding customers options for coffee, tea and breakfast spots will give them an opportunity to make a significant presence and offer their service and quality to the community. Exposure will aid Funky Shea Coffee Company in attaining revenue and customers. Funky Shea Coffee Company is assuming to be able stay on budget and complete all tasks including construction within the intended time frame. Funky Shea Coffee Company is assuming that their commitment to their service, quality and customers will provide the repeat business they are looking for in the long run. Funky Shea Coffee Company is assuming they will be able to stay competitive with the surrounding coffee businesses by meeting customers price, quality, and service needs better than their competitors.
Constraints:
Possible constraints that Funky Shea Coffee Company may face can include poor market size, decrease sales, delays in obtaining necessary resources, delayed deadlines, increased expense causing business to go over the budget. Problems staying competitive within the downtown area, and decreased customer satisfaction are all restrictions that could keep this business from completing the project successfully.
Decreased economic conditions
Decreased profit and sales revenue
Competitive pricing
Theft and damage
Meeting supply and demand requirements
State/ city limitations/ restrictions
Constructions delays
Delaying grand opening
Milestone Schedule:
Milestone Expected Date Actual Date
Project Start Date
February 1, 2019
Select Location
February 16, 2019
Location Approval
February 21, 2019
Hire Construction Crew
February 27, 2019
Plan Layout for Store
March 5, 2019
Begin Construction
March 10, 2019
Hire Employees
August 15, 2019
Create Budget/ Cost Plan
February 10, 2019
Obtain Funding
January 11, 2019
Established policies, procedures and operations
April 16, 2019
Marketing/ Advertisement deadlines for opening
April 25, 2019
Obtain resources, materials, product and equipment for store
April 10, 2019
SWOT analysis
March 13, 2019
Supply and demand requirements set
April 9, 2019
Complete Construction
August 10, 2019
Final Project Report
September 25, 2019
Project Completion/ Grand Opening
February 1, 2020
Financial Resources/ Budget:
Category Monthly Cost Associated
Payroll/ Salaries
$ 50,000
Construction Costs
$ 20,00
Marketing/ Promotions
$ 10,000
Utilities
$ 2,000
Insurance
$ 2,000
Equipment/ Material costs
$ 40,000
Expenses/ Supplies
$ 4,000
Product Purchase
$ 5,000
Total Cost per month
$ 133,000
Total Cost per year
$ 1,596,000
Stakeholders List:
Property/Business Owner
Construction Team
Suppliers
Shareholders
Employees of business
Project Manager
Community/ Customers
City/ State
Project Approval Requirements/ Exist Criteria:
Some requirements for Funky Shea Coffee Company consist of obtaining a construction permit, passing building inspection, obtaining sales tax license, Business license/ permit, Fire department permit, Budget approval, and lastly funds approval. All these major components are crucial to the success of the project. The Project manager will decide if project is on track to meet expectations set by the Owner. The project manager will have the sign off on all final decisions for the project.
Project Manager will be prepared will all necessary tools, polices, procedures, deadlines prior to the process bringing. The project manager will be responsible for producing a final report to assure the project has meet requirements and deadlines.
Assigned Project Manager, Responsibility & Authority Level:
The Project Manager will be Stephen Mayer’s. Mr. Mayer’s will be in charge of making sure the strategic plan is implemented as intended. Mr. Mayer’s will also be responsible for assuring all employees are complaint in Funky Shea Coffee Company processes, procedures, and polices. The Project Manager will assume responsibility for any obstacles that way arise. The project Manager will stay organized communication and an appropriate schedule for tasks. The project manager will use good time management processes when coordinating work place schedules and coverage for all shifts.
Authority/ Sponsor Authorizing Project Charter:
Approved by Project Sponsor:
Name and title: Date:
References:
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