This assinment is based on my previous assignment done by TFTH of Renovation of Tip Top Bakery. As it is a group assignment is group i need to so only content in 4 and 5 in workbook 2 week 4. I have...

PROJECT MANAGEMENT
Table of Contents
Topic 4:    3
4.1 Project selection exercise    3
4.2 Stakeholder Prioritization Matrix    4
4.3 Project Communications Matrix    5
4.4 Work Breakdown Structure    7
4.5    The RACI chart    10
4.6 Budget    11
Topic 5: Scheduling projects    12
5.1 AON    12
5.2 Time estimation    12
5.3 Time estimation – Enumeration method    14
5.4 Time estimation – Two Pass method    14
5.5 Critical path    14
5.6 Gantt chart    14
5.7 Progress Reporting (Timelines)    15
Reference    17
Topic 4:
4.1 Project selection exercise
    Project/Selection Criteria
    Relevancy of the course
    Learning values
    Analytical skills
    
    Weight:
    5
    5
    5
    Total
    Renovation of Tip Top Bakery
    3
    2
    4
    9
    Bunnings Warehouse
    1
    3
    2
    6
The Project our group has chosen is: To renovate Tip Top Bakery
The reasons for this are: Tip Top Bakery wants to adopt technologically advanced mechanisms to achieve higher efficiency in production and supply. The introduction of technology will help the organisation to cope up with the challenges that the market is putting forth to them. According to Kerzner (2018), efficiency in customer handling, finance management and employee management can be achieved with the help of advanced technologies that are introduced within the organisation. The introduction of technology will thus help the organisation to maintain its competitive advantage in the market and help the senior management to achieve the vision of the company.
3
4.2 Stakeholder Prioritization Matrix
    Stakeholder:
    What is the stakeholder’s main issue?
    Powe
    Interest
    Influence
    Impact
    Urgency
    Legitimacy
    Total
    Priority (a score of 1-6 = low, 7 to 12 = medium, 13 to 18 = high))
    Owner of Tip Top bakery
    Higher profit margins and greater reputation among the customers
    3
    3
    3
    3
    2
    3
    17
    High
    Senior management and Partners
    High Profit, reduction in operational costs
    2
    3
    2
    3
    2
    3
    15
    High
    Investors of the Bakery
    High outcome for the money invested
    2
    2
    2
    3
    1
    2
    12
    Medium
    Shareholders
    Increase in share price in the market
    2
    3
    2
    2
    2
    3
    14
    High
    Customers
    Good quality products and variety in the range of products
    3
    2
    2
    2
    1
    2
    12
    Medium
    Government
    To acquire tax and increase the purchasing power parity of the people
    2
    2
    1
    1
    1
    1
    8
    Medium
    Tip Top Bakery Project Managers
    To get more projects and more clients
    2
    1
    2
    2
    1
    1
    9
    Medium
    Employees of the Bakery
    Higher salary and frequent promotion
    2
    3
    2
    2
    2
    2
    13
    High
Table 1: Stakeholder Prioritization Matrix
(Source: influenced by Stettina et al. 2018)
4.3 Project Communications Matrix
    Stakeholde
    Learn From Stakeholde
    Share With Stakeholde
    Timing
    Method
    Owne
    Owner of Tip Top bakery
    What risks that is taken by the owner and steps to maintain the competitive advantage in the market.
    All the aspects of the projects; The risks and challenges of the project should be informed to the owner.
    At all stages of the project
    Through email communication, telephonic conversations and meetings
    Project manage
    Senior management and Partners
    The ways in which the risks faced by the company can be mitigated
    The challenges that the projects might face in the future
    At different stages of the project from the beginning to the end
    Through email communication, Skype, telephonic conversations and meetings
    Project manage
    Investors of the Bakery
    The arenas that are capable of booming
    To inform the probable risks in the arenas in which they are investing
    From time to time
    Through email communication
    Project manage
    Shareholders
    The success the company is likely to achieve
    The probable risks and challenges the company is likely to face
    From time to time
    Email communication
    Project manage
    Customers
    The need and the requirements of the customers so that the company can customise their products
    To inform about the quality of the products and the USP of the product
    Before the launch of new products
    Advertisement and social media
    Project manage
    Government
    The...