Assessment 3 - Project Report _Template (2).pdf

Project Status Report
PROJECT REPORT
Project Manager Mr.Ahamad
Reporting Period 12.05.2022 - 30.06.2022
Background Shopronto, an e-commerce effort being promoted by the author of this
strategy plan, is the end aim. also be found in local brick-and-mortar
stores, so shoppers can pick up and check out the goods before making
a final purchase choice. In the present strategy plan, the author's
objective is to improve Shopronto's visibility among consumers. It is
possible to choose, compare, and evaluate things at a variety of local
businesses. Globalization, increased competition, technological
development, and innovation have all had an influence on many
businesses in today's rapidly changing environment. These conditions
have had a negative impact on the garment industry, which has been
exposed to a highly competitive atmosphere between numerous
businesses. A wide variety of products to choose from and a hectic
schedule make it difficult for clients to devote much time to looking
for exactly what they need. Finding a particular piece of clothing in
the desired color and style from the hundreds of options available at
clothing stores may be challenging. Although Amazon and a slew of
other companies provide online shopping as an option, buyers are still
taking a risk since it is difficult to know if the products will fit them
adequately in the end, even if the appropriate measurements, colors,
and materials are bought. As a result of these findings, the author has
decided to further investigate this area to discover new opportunities
for both consumers and shops. The fashion industry has developed to
become more digitally oriented because of the rise of mobile and e-
commerce. The ability to sell in stores and online is available to many
businesses. In the meantime, according to the current market study,
there isn't an integrating platform that will allow shoppers to search

for a single item from multiple brands to read all the product qualities,
then proceed to actual "brick and mortar" stores where they can test it
out and purchase immediately.
Primary Benefits
Anticipated Measures / Baseline / Outcomes
B1 Anticipated
benefit details
Consumers will be able to acquire all the information and facts
about various items from different retailers without ever visiting
them, saving them time and effort, thanks to the possible idea.
B2 Anticipated
benefit details
With this concept, small local businesses will be able to take on
worldwide brands and huge online shops by leveraging technology
and social media to compete with their aggressive marketing tactics.
B3 Anticipated
benefit details
• Searching for items based on their model, kind,
manufacturer, price, and more.
• Filtering ideas based on predefined criteria.
• The remaining supply can be clearly seen (sizes, colors,
locations).
• Providing a map with the locations of all stores.
• The product may be reserved or ordered online and
exchanged at a nearby store.
• Computer, tablet, and smart phone mode are all options here.

KPIs Current
Status
Commentary
Benefits Delete the unrequired status indicators
Org. Change
Management
organizational structure, new business processes, and
cultural shifts may all be managed using this approach.
OCM focuses on the human aspect of change
management.
Budget
Milestones There is the special time gap.
Risk
Management
An organization's capital and revenues might be
threatened by a variety of factors. Many factors contribute
to these risks, such as financial uncertainty, legal
obligations, technological challenges, and strategic
management failures.
Issue
Management
Identification and resolution of any issues that arise
throughout the course of a project or in an organization. In
this process, the problems are documented, and the
solutions are worked out after a thorough examination of
all relevant data.
Scope
Management
Method through which the results and advantages of a
project are determined and monitored.
Human
Resource
Management
Recruitment, hiring, deployment, and management of an
organization's workforce. In HR, the term "human
resources" is often used instead of HRM (HR).
Red Flag
Issues
(those issues
requiring urgent
attention and
resolution)
• For the project, gathering a large volume of data.
• Team Members' Technical Knowledge and Skills.
• Using the wrong time estimate
• An unanticipated shift in job or work priorities.
• Complexity of the project.
• The climax of the story

• Supply Chain Dependency
• Price of Changing Vendors
• Stiffer Economic Development
1 PROGRESS TOWARDS PROJECT PLAN
The following actions will be done to create and set up the project(James, n.d.):
• An economic viability analysis, based on a business plan and financial analysis, may
help determine whether a firm is worth investing in.
• Initiating collaborations with local merchants; Working with suppliers to create digital
portfolios (with the aid of a freelance photographer); Hiring an IT developer to build
the website and mobile app and provide ongoing technical support.
• Starting with three new employees (a Supplier Relationship Specialist, Social Media
Specialist, and Customer Support Specialist), we are expanding our team.
• Small company start-up
In the Gantt chart on Graph, the project's timetable is laid out.
1.1 MILESTONE SUMMARY FOR ENTIRE PROJECT
For activities that need to be completed, milestone tasks serve as a deadline since they have no
expiration date. For a summary job to be completed, it must begin with the first subtask and
continue through to the last task.
Milestone Scheduled
Date
Actual
Date
Commentary
Determine Objectives 12.05.2022 13.05.2022 Almost done
Secure Budget 14.05.2022 15.05.2022 Almost done
Hire IT Developer 15.05.2022 25.05.2022 Almost done
Identify Suppliers 26.05.2022 31.05.2022 Partially done
Management Review 01.06.2022 05.06.2022

Digital Portfolio 06.06.2022 10.06.2022
System check 11.06.2022 20.06.2022
Hiring Process 21.06.2022 26.06.2022
Startup Business 27.06.2022 30.06.2022
1.2 ACTIVITIES PLANNED BUT NOT ACHIEVED
Activities Scheduled date Actual date
Management Review 01.06.2022 05.06.2022
Digital Portfolio 06.06.2022 10.06.2022
System check 11.06.2022 20.06.2022
Hiring Process 21.06.2022 26.06.2022
Startup Business 27.06.2022 30.06.2022
1.3 ACTIVITIES DURING NEXT PERIOD
Activity Description Assigned To
Management Review Creating digital portfolio Senior management
Digital Portfolio Creating digital portfolio IT team
System check Testing and review IT team
Hiring Process Hiring staff Human resource team
Startup Business Adjustment phase

2 FINANCIAL EXPENDITURE
2.1 ADDITIONAL INFORMATION RELATING TO EXPENDITURE
Cash or credit may be used to make a purchase, and expenditures can be made for products
or services. In contrast to a cost that is reported after it has been used up or expired, this one
is recorded at a single point in time (the moment of purchase). The many forms of
expenditures in accounting and finance will be examined in this handbook.
• An emergency fund.
• A bank account for saving money.
• One's own retirement fund.
• Other financial commitments.
• Additional mortgage payments are required.
• Extra repayments on student loans are allowed.
Expenditure
Labour Budget Actual Variance
Labor expenses (5 Members) AUD 1000 AUD 1200 AUD 200
Administration AUD 500 AUD 800 AUD 300
Sub-Totals AUD 1500 AUD 2000 AUD 500
Non-Labour Budget Actual Variance
Row materials expense /input AUD 1000 AUD 1800 AUD 800
Amortization expense AUD 1500 AUD 1600 AUD 100
Selling AUD 800 AUD 1000 AUD 200
Sub-Totals AUD 3300 AUD 4400 AUD 1100
TOTALS AUD 4800 AUD 6400 AUD 1600

3 RISKS
As part of your entire risk assessment process, you'll identify hazards and risk factors that might
cause damage (hazard identification).
It is important to do a comprehensive risk assessment of your workplace in order to detect any
potential dangers, especially to humans. You then conduct an analysis and assessment to
determine the likelihood and severity of the threat. It is only then that you can determine what
steps should be in place to prevent or minimize the damage.
Safety is the most important aspect of process risk, and the contingency plan is what I focus on
the most.
Every risk must be detected within the product development process itself. All parties involved,
from the designer to the development merchant, sourcing, and quality assurance, must take part.
There are no easy answers when it comes to quality difficulties, particularly when dealing with
varied materials.
The first challenge is that most of the time we're working with fabrics that will stretch, shrink,
or distort when we cut, sew, or press them. It's also worth noting that no two machines are alike
when it comes to how they sew; in certain cases, a bad batch may be traced down to one
machine.
When deciding whether to provide samples or not, there are instances when "commercial
judgments" need to be made. These judgments must always be made with the company's best
interests in mind, but there are situations when they are necessary. The process of making
business decisions is a fantastic notion.
3.1 RISK MANAGEMENT
The garment sector has elevated risk management to a higher level of importance as a direct
consequence of this. To ensure payment in the event that a consumer canceled their transaction,
the majority of suppliers only had 17 percent of them in place. At least forty percent of

Bangladeshi suppliers said that they had suffered financial losses as a direct result of these
instances.
Risk analysis may help garment suppliers better understand their operations and risk exposure.
You should consider the following five factors:
• The danger of operational failure
Command and control risk includes everything including the quality of products and the safety
of workers to following rules and managing externalities. By monitoring the situation work
procedures and manufacturing conditions, you can figure out how risky a certain operation has
become and make changes as needed.
• The danger of losing money
From weak contracts to too generous payment conditions, suppliers face a wide range of
financial risks. There are a number of ways to ensure that suppliers are paid in full for the items
they provide, including requesting advance payments and getting a bank guarantee, as well as
acquiring trade credit insurance and employing invoice factoring. Regularly evaluating the risk
ratings of potential and current clients may also assist minimize non-payment risks.
• There is a high degree of risk in the supply chain
Approximately 75 percent of firms have experienced supply disruptions since the start of the
pandemic, leading to a renewed interest in supply chain risk mitigation. Openness in the flow
of information between buyers and suppliers is the first step to enhancing supplier performance.
• Risk of non-compliance
It is essential for garment suppliers to understand and evaluate the law that pertains to their
organization in addition to locating and fixing any control gaps that may exist in order to reduce
the likelihood of a compliance risk. By adhering to these processes, you will reduce the risk of
damage to your reputation brought on by acts that do not comply with the regulations.
• Risks in the industry
Trade rules, macroeconomic events, and competitive landscape alterations must be regularly
monitored by suppliers in order to stay on top of the industry. Import and export regulations

must also be monitored for any modifications, which is particularly important in today's fast-
paced world when everything is always changing. If suppliers keep an eye on these risk
variables, they will be able to anticipate market changes and make adjustments to their business
plans as necessary.
Achieving success in risk management
Once the hazards have been identified and analyzed, it is feasible to begin managing the risk
for garment suppliers. A company's risk management plan should be determined by the
likelihood and severity of a certain risk. If a provider accepts or retains low-priority risks, they
may be able to prevent or at least mitigate high-priority problems. If a danger were to develop,
it's important to focus on ways to reduce the negative impact.
This long-term strategy necessitates a rigorous and diligent monitoring mechanism. The upshot
is that supplier risk exposure is better understood over time, and they are better positioned to
identify and respond to risks.
For the sake of transparency, it is important to record all of the company's risk management
policies and processes. Because of misunderstandings about method, inadequate documentation
may create a problem in risk management performance.
3.2 SCOPE MANAGEMENT
The industry is responsible for around 14 percent of the total production of the industrial sector,
4 percent of the GDP, and 27 percent of the influx of foreign cash. Because of it, almost 45
million people now have jobs that are directly related to it. The textile sector is the second-
largest source of employment, behind agriculture as the primary employer.
3.3 HUMANA RESOURCE MANAGEMENT
An organization's HR risk management strategy aims to identify and mitigate the dangers that
its workers bring to the company. Managing risks connected to employee management,
employee behaviours, or the methods used by human resources in hiring and sacking workers
is the focus of HR risk management. Orientation and training in scheduling and coordination.

Management of attendance and absences. Personal files of employees should be kept up to date
and maintained. Help with recruitment and selection coordination.
• As a result of this,
Portugal's T&C business is one of the most competitive in the country, with many stores
competing for customers. Zara, Mango, H&M, and other well-known omni-channel companies
are the fiercest competitors(Lutsenko, n.d.).
• Supply Chain Dependency
Shopronto's business strategy relies heavily on suppliers, hence there is a high degree of
dependence on them.
• Price of Changing Vendors
Suppliers may be hesitant to participate in the project since they face one-time charges, and
hence may be unwilling to incur extra costs, as was previously indicated(European
Commission. Directorate-General for Economic and Financial Affairs et al., 2008).
• Stiffer Economic Development
People in Portugal have a limited spending budget because of the country's poor economic
development. High levels of business and family debt, inadequate credit, a shaky banking
system, increasing energy costs, and uncertainty in the Eurozone all act as drags on economic
development today(James, n.d.).
Alternative goods and services that serve the same purpose as the industry's product or service
may be found by doing research on other similar products and services that are available. It's
impossible to find a service to replace the one offered by the present project, which is a company
providing a new form of service not yet available on the current market.
alternatives, such as ordinary web retailers, are possible. As a result of being new to the market,
a start-up firm may encounter low levels of brand loyalty.
4 ISSUES
• For the project, gathering a large volume of data.

• Team Members' Technical Knowledge and Skills.
• Using the wrong time estimate
• An unanticipated shift in job or work priorities.
• Complexity of the project.
• The climax of the story.
5 OTHER ISSUES
In order to get into a new market, a start-up firm must first analyze the market's entrance
obstacles. Consider the following as examples of potential roadblocks:
• monetary resources needed
If you want to create this kind of company, you'll need to put money into things like full-stack
web services and clients, mobile apps that use third-party APIs and a web app that uses hosting
and an expandable database, and the hire of an outside developer to handle these things. Starting
a company requires a little amount of money, on average. As a result, new rivals might easily
enter the market as a result of this issue.
• Differentiation of Products
Competition from established and well-known companies drives newcomers to spend and
advertise significantly in order to overcome existing client loyalty. In order to remove the
barrier, the advantages of the service must be properly conveyed to the target audience.
• Distribution channels are essential to a company's success
If you're running a firm that relies heavily on the cooperation of your suppliers, this may be a
medium-sized obstacle.
• Changing the Costs
• One-time expenditures (technological updates and support, photographing stock items)
create a medium barrier for suppliers since they may be unwilling to incur new
resources.
changes in the project team,

the availability of resources,
increasing hazards and a rise in resource prices are all factors that affect quality.
SECTION B – Theoretical Justification
Provide a theoretical justification for each questions listed below. Consider why this is
important to do, what occurs if it is not done etc. Please aim to extend beyond saying we do it
because Kloppenborg or the Guide to PMBOK said so. Aim to demonstrate critical analysis
and not merely description or repetition of what others have said.
Question 1: Why should you communicate the status and needs of a project to a
governance group?
It is essential to maintain open communication with all of the stakeholders, as this enables them
to collaborate, offer ideas, define business expectations, and determine minimum standards for
product quality. When determining a participant's degree of effect on the project, it is important
to take into account a number of factors, including their amount of influence, authority, and
seniority, as well as how relevant they are to the project.
Question 2: If you were a project manager how would you involve your team in preparing
your status reports?
The process of analyzing the project should include contributions from all of the members of
the team. It's possible that members of the team, who are essential to the accomplishment of the
project's goals, will have a more in-depth comprehension of some facets. This might be
performed via the holding of team meetings or by the conducting of individual interviews with
each member of the team. The members of the team need to take into consideration both the
positive and the undesirable results of the project as part of the assessment process. It is essential
that everyone who is taking part in the assessment of the project realizes that this is not the time

for pointing fingers or making personal attacks on one another. The purpose of this activity is
to first congratulate one another on a work well done, and then to discuss ways in which it may
be improved in the future. The appraisal of the project shouldn't turn into a shouting match or
an exercise in pointing fingers at one another.
REFERENCES
European Commission. Directorate-General for Economic and Financial Affairs, Arpaia, A., Turrini, A.,
2008. Government expenditure and economic growth in the EU : long-run tendencies and
short-term adjustment. Publications Office, BE.
James, V., n.d. A MANUAL ON The Design and Conduct of public expenditure reviews in caribbean
countries 159.
Lutsenko, K., n.d. STRATEGIC PLAN FOR AN E-COMMERCE PROJECT 88.

APPENDIX
Figure 1 Grant chart

Assessment 3 - Project Report _Template (2).pdf

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