Part A – Written Assessment

Summary

Our organization is an information technology company that offer services globally. Part of our
company’s objective is to continually develop and adapt so that we will always be in-line with
the current technological trend. For our company to expand, the company decided to study the
feasibility of engaging in online Payment Processor. The online Payment Processor is getting
more in-demand as more and more people are learn how easy and comfortable it is to use this
kind of platforms. Exploring this kind of business will also allow our company to be more
diversified. Aside from offering this kind of service to external clients, this project will also help
our company by making it easier for our customers to pay for our services instead of
outsourcing other payment methods. The project team is comprised of individuals who have
extensive knowledge and experience in this kind of business.

Resources

The initial resource requirements for this project were drafted and needs further review and
approval. The requirements that need to be satisfied are:

1) Goods and services

a) Developer tools (such as coding software)
b) Internet connection
2) Human
a) Developers
b) Accountants
3) Physical
a) Office space
b) Computers
4) Financial
a) $150,000 capital expense. Initial projected amount needed to cover the physical
resource requirements.
 b) $40,000 monthly. Projected amount to cover goods and services, human, and other
expenses.
5) Stock requirements
a) Computer accessories (such as keyboard, mouse, printer, etc.)
b) Office supplies.

Consultation Process

The consultation processes of the project were aligned to the methods and processes of the
company. All consultation agenda and communication are intellectual property of the company
and should be kept confidential unless otherwise stated.

1) Email/intranet communications - email and intranet may be utilized as a paper trail as a

form of quality assurance. Some organizations may use emails to identify ways in which
to improve processes. It can also be used to ensure that the same message reaches all
staff and staff have an opportunity to respond, thereby contributing to the plans.

2) Newsletters - newsletters provide staff with information about plans and may provide
staff with opportunities to respond.

3) Meetings - meetings may be either formal and/or informal. Informal meetings can be at
any time at any place. Formal meetings can be in a more controlled environment where
feedback is sought.

Key Performance Indicator

Key Performance Indicator (KPI) is a vital part of project planning as this will assist in gauging the
employee’s and business’ performance. The KPI provides quantifiable measurements that will
reflect the success factors of the organization. Listed below are some of the KPI for this new
project:

1) Growth and Profitability: 10% monthly growth of platform users.

2) Harnessing Innovative Technology: Train supervisors on Project Management.

3) Customer Satisfaction: 100% delivery of services on-time.

Contingency Plan

To reduce the damage of unexpected events, the project management team have formulated
contingency plan for some risks that may have negative impact on the business structure. The
table below shows some risks that may occur anytime without warning.

Risk Probability Severity Damage Control

Failure of internet, 5 3 Allot budget for
electricity, or hardware backup internet,
generator, and
hardware
Resignation or termination 5 2 Succession plan for
of key staff the next in-line
staff
Virus or hacking of data 3 5 Additional backup
server

Probability Legend:

1 – 0.01% 2 – 0.1% 3 – 1% Chance 4 – 10% 5 – 100%

Chance Chance Chance Chance

Severity Legend:

1 – Negligible 2 – Inconsistent 3 – Partial 4 – Threat to 1) 5 – Threat

 Delivery of Delivery of Future Trading 2) to Business
Impact
Service Service Core Client Survival

Information Sources or Specialist Advice

All information that are sourced out should always be from legal sources and should always be
checked for legitimacy. To further enhance the project proposal standing, advice from specialist
of their respective fields were consulted. Listed below are the advisers for this project:

1) Information Technology Specialist

2) Financial Consultant

3) Marketing Expert

The people listed above are key personnel for this project as their outputs are part of the
guidelines for this project.

Approver

In order for the project plan proposal to materialize, approval from the management should be
obtained. Listed below are the people whom the approval should be obtained.

1) Stakeholders

2) Senior Management

3) Committee

Methods for Understanding the Plan

All members of this project should know the goals and objectives of this project and they should
be familiarize with all the agreed methods of any aspect of this project. The key methods that
should be known to all members are as follows:
 1) Share information - by sharing information, you are opening the doors towards
feedback. In sharing information, you are giving them a clear picture of the organisation
and its current situation. By building trust, you are building a foundation for your teams.
2) Create autonomy through boundaries – to keep the doors to sharing information open,
make sure that you provide the team member with feedback. If the suggestion is not
viable, let them know. It demonstrates that you are listening to them and taking their
suggestions into consideration. This in turn builds their confidence.
3) Create self-managed teams - a team is a group of people linked in a common purpose. In
self-managed teams, as a Manager you should use your proposal to define the goals,
methods and functioning of a team. Once you have provided the team with the
information, you delegate the responsibility and decision-making authority to the team
itself, with the hope that the group will make better decisions than the individual.
Decisions must be made by consensus to be successful.

Part B – Written or Oral Questions

1. How will you allocate and manage financial resources?

 Financial resources should be allocated where there are gaps and needs. Based on your
budget, teams will be allocated sufficient resources to meet their goals. At times, if
control is not maintained on the allocation of resources, then team members’ ability to
meet their end needs will be affected. To ensure that resources are correctly allocated, a
detailed plan needs to be completed so that individual can complete their prescribed
tasks in a timely manner.

2. What approaches could you employ to improve resource usage and eliminate resource
efficiencies and waste?

A competitive market has emphasized the need for organizations to form long lasting
relationships with their external suppliers. One of the reasons for this increase in
supplier relationships is that “the costs of purchased goods and services represent the
dominant part of the total costs of most companies” (Ford, 2003, p.91). Outsourcing
some of the work to their suppliers, allows your organization to specialize in one area,
while improving their efficiency by providing economies of scales to their operations.

Economy of scales in this instance means that by outsourcing, your organization is able
to decrease their production costs. By specializing in one section of their products
construction, the organization is increasing the efficiency of their productivity. Suppliers
are now designing and developing modules that make up the products your organization
produces.

Concepts such as JIT (just in time) and TQM (total quality management) have also had a
positive impact on the efficiency of production and minimizing costs. Rather than
ordering stock and storing it within the production area, JIT ensures that components
arrive just in time to reach the production line. You are now saving in storage costs and
this has also has a positive influence on production costs. TQM influences the number of
organization’s your employer will form lasting relationships with. Collaborating with a
supplier can be very demanding. To counteract the costs of forming several
 relationships, organizations instead turn their attention to fewer suppliers and spend
time and resources forming a more lasting relationship with them.

3. Explain how you would incorporate requirements for intellectual property rights and
responsibilities within your organization.

When recruiting and acquiring resources and services, the company needs to be aware
of intellectual property rights and responsibilities. To ensure that no intellectual
property rights will be violated, the company should apply for licensing agreements
where possible. The licensing agreement is used to enable the owner of the intellectual
property to agree (according to the terms and conditions of the agreement) to permit
the other party to the agreement to use the intellectual property. It is a way of allowing
the use of intellectual property without losing ownership. A licensing document is
therefore a legal document of great importance which should be drafted by a legal
advisor.