A project plan is based on research and organizational goals. To see an exemplar project plan, review the
Project Plan Example.
Use
the
Project Plan Template
and the business needs identified in your Week 3 Balanced Scorecard to:
- Develop the project objectives.
- Explain what operational steps will be taken to achieve your stated objectives.
- Identify the responsible person(s) for each operational step.
- Outline a timeline for each operational step.
Justify
the choices you made in your project plan in a 525- to 700-word response on the Project Plan Template.
Cite
any
sources according to APA guidelines. NOTE: You must use research to successfully complete this assignment.
**** I have attached the template the the assignment has to be completed on, an example of how the completed assignment should look, and my last assignment that you will need to complete the assignment. Thanks in advance for your help.
Insert Title BUS/475 v11 Balanced Scorecard Template BUS/475 v11 Page 3 of 4 Balanced Scorecard Template Use the organization you chose in Week 1 as a resource for this assignment. Background Strategic objectives are a measure of attaining your vision and mission. They reflect the vision, mission, and values of the business, as well as the outcomes of the internal and external environmental analysis. Scorecard Areas Develop at least three strategic objectives for each of the four balanced scorecard areas. Financial Objectives Measures Targets: Timeline/ Metrics Increase market share Total Revenue Increase 5% in first year Increased global expansion. Add other nations in Asia and Europe Expand 25% in the first year Increase production sales. More factories should be opened to create more automobiles. Increase 50% in the first year Increase revenue. By obtaining batteries from China, you may reduce expenses. Cut costs by 40% to increase profit Customer Objectives Measures Targets: Timeline/ Metrics Increase customer value Increase profit contribution per customer Increase 5% in first year Increase human interaction Instead of driving everyone to the app, provide customers the option to call customer care. Increase 10% in the first 2 years Certify Mechanics with Tesla Allow 3rd party mechanics to work on Tesla. Increase in education 25% in the next 3 years. Increase service centers Allow 3rd party mechanics to work on Tesla. Increase in opening more service centers by 40% in the next 2 years Internal Business Process Objectives Measures Targets: Timeline/ Metrics Decrease lead times for new contract implementation Project implementation time frames Decrease time by 3% in first year Increase product differentiation Develop a strategy to distinguish Tesla from other premium electric vehicle manufacturers. 20% increase in employees working at service centers. Increase technological reliability Even though they are incredibly dependable vehicles, technology might still use some work. 40% increase in employees and improvement within the next year Improve brand image As consumers are being served, provide them with a luxurious experience. Increase service center locations and employees working in the centers by 40% Learning and Growth Objectives Measures Targets: Timeline/ Metrics Decrease employee turnover Facilitate regular training and opportunities for development Reduce by 4% in first year Retail strategy Working with outside mechanics and other businesses can help you better understand the industry. Increase collaboration by 5% by 2022 Value employees Show more employee appreciation Increase in team activities once every 3 months Employee productivity Increase the employee workforce Add 25,000 employees by 2022 Below, explain in 350-525 words: · why these objectives are appropriate for the project. · The headway of the organization's objectives as well as the development of its competitive advantage can be utilized to check progress. · The undertaking's objectives might incorporate developing the organization's market share, entering new markets, and upgrading client joy (Mas, 2018). · To advance its objectives as well as lift its competitive edge, the organization should make the most of its strengths and opportunities while tending to its weaknesses and threats. · A RACI outline may be utilized to distinguish the cutoff times and jobs for every goal. · This danger/opportunity was picked on the grounds that it is normal to help the organization benefit from its advantages and opportunities while tending to its threats and weaknesses. · These objectives are OK for the venture since they center around the organization's true capacity and strengths while tending to its risks and deficiencies. · why these metrics and timelines are appropriate for your strategic plan. Keeping up with the brand picture of most important must be accomplished by giving pertinent advancements (Alghalith, 2018). In the highly competitive market, each brand is attempting to foster its items. Accordingly sending off an inventive item with trend setting innovation relatively soon is very alluring. Furthermore, Error free help is the principal objective of different brands now-a-days. Consequently, it has turned into a benchmark for looking at the brands. Along these lines blunder free assistance conveyance ought to be a goal to be accomplished by the following year. The sub-divisions recorded above are the regions to consider in this task while deciding the undertaking and its metrics (McCain, 2019). Objectives, timelines for project exercises, techniques for achieving and improving the objectives and objectives being focused on, and the possibility of competitive advantage, by and large, will be generally settled. To make the ideal objectives that will support settling these difficulties, picking a threat to the presentation of the firm would be an essential situation to consider. The High Expense Toll or the Cost of Operation in this present circumstance could represent a threat to Tesla (Jiang, 2022). Hence, to manage and decrease working expenses, the organization needs strategic planning and productive asset use control. Simultaneously, it might likewise utilize a cost-initiative system or plan and investigate marketing strategies to arrive at the ongoing clients as a whole. The functioning timetable and time spans can be given a sign of what has been achieved and what has not to gauge progress. The development of the client network to 2:3 of the total populace might be one of the task's quantifiable objectives. Second, bringing down working costs by utilizing plans and models, and third, acquiring a critical competitive edge through techniques that increment client joy. Subsequently, every one of them might have the legitimate culmination times, like a half year or a year, among other reasonable indicated times. Note that these objectives are essential since they act as the undertaking's driving standards and, thusly, set impediments and limitations on entering trivial and insignificant segments of the task. Further, these objectives will give guidance by giving a guide of the material being covered. Thirdly, they assume a substantial part in the competitive advantage looked for in this present circumstance; subsequently, these objectives are relevant and critical to the undertaking work that Tesla has conveyed. Clients enlisted or rather came to bat and deals made would be the metrics for assessing the undertaking's a good outcome. References Alghalith, N. (2018). Tesla: innovation with information technology. International Journal of Business Research and Information Technology, 5(1), 37-51. Du, X., & Li, B. (2021, December). Analysis of Tesla’s Marketing Strategy in China. In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 1679-1687). Atlantis Press. Jiang, T. (2022, March). A Business Model to Analyze the Tesla Based on SWOT Analysis and POCD. In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) (pp. 2896-2899). Atlantis Press. Mas, S. M. (2018). Tesla Motors. SWOT analysis and corporate strategy. GRIN Verlag. McCain, C. (2019). A Strategic Audit of Tesla, Inc. Copyright 2020 by University of Phoenix. All rights reserved. Copyright2020 by University of Phoenix. All rights reserved. Insert Title BUS/475 v11 Project Plan Example BUS/475 v11 Page 2 of 2 Project Plan Example Project Title: Desert Taco Opportunity Description: Based on initial feedback from customer surveys, online discussion/social media groups, and SWOT analyses, you’ve determined that there is an opportunity to increase your organization’s customer base through the introduction of desert tacos in your food truck menu. Project Objectives Identify the top three potential customer groups for this opportunity and describe their characteristics and preferences. Operational Step Responsible Person Timeline Review the organization’s customer database to determine potential customer groups Leo (Market Research Manager) 9/30 (1 week) Identify the top 3 groups to target based on volume, brand loyalty, and location Betty (Director of Marketing) 10/7 (2 weeks) Survey customers regarding food preferences and potential menu items Tom (Customer Service Representative) 10/21 (4 weeks) Share customer feedback with inventory and operational teams Betty/Tom 10/28 (5 weeks) Determine the top 5 locations and times to complete a pilot study with your test market. Operational Step Responsible Person Timeline Review sales data to determine peak sales opportunities by location Jim (Director of Sales) 9/30 (1 week) Identify the top 5 locations in which to conduct the desert taco pilot Jim 10/7 (2 weeks) Create marketing collateral and social media communications to promote the desert taco pilot Oliver (Media Relations Manager) 10/21 (4 weeks) Provide expected volume and product information for the inventory team Jim 10/7 (2 weeks) Estimate the required inventory and supply chain needs necessary to support the desert taco pilot. Operational Step Responsible Person Timeline Based on expected customer volume, locations, and times, determine the product inventory required to support the pilot. Louise (Controller) 10/14 (3 weeks) Source supply companies and obtain product pricing quotes and delivery timelines. Louise 10/21 (4 weeks) Determine shipment and storage needs to support the pilot. Louise and Ben (Operations Manager) 10/21 (4 weeks) Purchase product for the pilot and arrange transportation to support the desert taco pilot at the various locations. Louise 10/28 (5 weeks) Copyright 2020 by University of Phoenix. All rights reserved. Copyright 2020 by University of Phoenix. All rights reserved. Insert Title BUS/475 v11 Project Plan BUS/475 v11 Page 2 of 2 Project Plan Template Project Title: Project Objectives: · [List project objective] Operational Step Responsible Person Timeline · [List project objective] Operational Step Responsible Person Timeline · [List project objective] Operational Step Responsible Person Timeline Copyright 2020 by University of Phoenix. All rights reserved. Copyright 2020 by University of Phoenix. All rights reserved.