I need these 2 questions answered for a project scope statement. I have attached the initial project proposal as well as the project that was selected.Project scope statement4. TECHNICAL REQUIREMENTS

PROJECT PROPOSAL

Date: 27 May 2018 Proposal: Product Expansion Sponsor:

Project Classification: Strategic

What business problem or opportunity does the project solve or present?

Product expansion does not directly solve an existing problem but does facilitate the growth of the product line which will impact sales positively and enable growth of this particular stores core product line by 10%.

How does this project align with our organization strategy?

Through the expansion of the product line at one store, we are fulfilling our strategy in being a leading retailer by providing consumers with an extended line of customer-centric goods. By doing so, we raise our sales potential which translates to increased fiscal results. Further, product expansion will provide the capital necessary to administer more focus on expanding our community advocacy.

What are the project goals?

The goal of this project is to expand the product line at this store by 10% through market analysis and consumer feedback. In-line with this goal is identifying existing or new distribution centers that can meet store demands. Finally, determining floor space display availability, product storage requirements, and any change in employee requirements.

Objective definition: Completion of this project requires an estimated $20,000.00 to complete and will generate an estimated $106,667 in sales. The time frame for completion of this project is an estimated four months. A breakdown of the estimates are below:

Hours

Market Analysis: 120 hrs @$24.00 ($2880.00)

Consumer Surveys: 8 hrs @$20. ($160.00)

Product Sourcing: 80 hrs @$24.00 ($1920.00)

Storage Upgrades: 32 hrs @$15.00 ($480.00)

Display Upgrades: 32 hrs @$15.00 ($480.00)

Materials: Storage & Display racks: ($12,915.00)

Resources: The resources necessary to complete this project will be a project team of eight employees, an office area, and a budget of $20,000.00 which will be used for the following resources: surveys, storage racks, display racks.

Risk analysis: Identify the major risks associated with undertaking this project.

The major risks associated with this project are:

1. The inability to identify cost-effective distribution sources. (Low Probability)

2. Lack of storage space requirements within the current facility. (Low Probability)

1. Lack of Display space requirements within the current facility. (Low Probability)

2. Special storage requirements not in place within current facility. (Low Probability)

The likelihood any of these risks will occur is low. However, should risk one occur, delays will occur which would push the timeline to completion further away. If risks two or three occur, the impact is significant as it could lead to high capital expenses since a larger facility or addition to the current facility would be likely which would lead to cancellation of the project or a significant extension to the timeline. If risk four occurs, the impact would require additional expenses to provide the special storage requirements for the products purchased, but minimal impact on the timeline would occur.