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 Selection

The business world is fast paced and can be hard to keep up with at times. Leaders are faced with many challenges and must learn to overcome and adapt to remain competitive. There are many projects and tasks that an organization must prioritize to remain a viable and competitive company. A project manager must take on this daunting job, and they should understand the best process to use when trying to prioritize projects for the organization. In this essay, our team needed to prioritize projects by generating a priority analysis (Attachment 1). This paper will also discuss why the given project was selected, accompanied with an explanation of the relationship between the project and the organization’s vision, mission, and objectives.

Selected Project

After having reviewed and conducting a thorough priority analysis, the project that we have decided to move forward with first is expanding the core product line by 10 percent. Expanding the core product line fell under one of the must-have objectives and appeared to make the most sense to start with. Another must have objective was to generate $5 million in annual revenue. To increase our income, we must expand our product line to increase our sales. A more robust and vast product line will increase our clientele, and make us more competitive as a company. Participating in the surrounding local communities is another must have objective but does not necessarily generate sales. Since this objective does not guarantee revenue or sales for the company, it is best that this objective is an ongoing initiative.

Relationship Between the Project and the Organization’s Mission

The relationship between the project and the organization mission. In all the organizations, it is a requirement that they should possess a mission statement that outlines their objectives and the goals. The retail store's mission statement requires that they should work to maximize their profits, have a profit satisfying and they need to have a sustainable survival. The project’s main aim is to maximize the profit and survival. The project objectives are moving the same direction with the organization’s mission. The project will help the retail stores to expand because they have an aim of covering the large market (Bryson, 2018). Retail stores are striving in increasing their revenues in the market, promoting the customer’s satisfaction and increasing the customer’s retention rate. The increased revenues could be used by the retail stores to expand and fund their operations. The project and the organization mission are related in such a way that the retail stores will execute the project for the sake of satisfying and catering for the needs reflected by the organization mission.

Most of the organization measure and projects execution helps in creating an effective organization with increased performance. The retail store mission statement reflects business functions and, in most cases, the projects undertaken affect the mission statement. That is, project executed will show more about the mission statement. The mission statement and the project help in growing the business in terms of the performance and management. Increased revenue will be associated with increased social responsibilities, team and capacity building. This will be attained as a way of giving back to the society. The relationship motive above all will be to promote the expansion of retail stores project.

Relationship Between The Project And The Organization’s Vision

The relationship between the project and the Organizations vision is critical to the motive why the project is happening in the first place. The store's Vision Statement identifies who we strive to be. The Retail Store strives to be the leading retailer as measured by fiscal results and community improvement advocacy within every small community. With that being said it made sense to begin working to improve the established store's revenue by expanding all by 10%. The gained revenue over the course of a specific period will assist in establishing the construction of a new store across state lines in a community that could use our store. Once revenue is established it will be easier to provide help and assistance to the community such as sponsoring local little league baseball teams, scholarship opportunities, getting involved with community events such as parades, and local events. This wouldn’t be the goal at the new store across state lines but would be pushed throughout all four stores.

Relationship Between The Project And The Organization’s Objectives

Analysis of The Retail Store must and want objectives pointed toward an overall presence and expansion of the store within the state's communities, a larger offering of core products, increasing community improvements, and physical expansion of current stores (GCU, n.d.). All identified objectives contribute to The Retail Store’s additional must objective of reaching a $5 million sales mark. Specifically, the chosen project is the focal starting point for all objectives to be met as it will enable an increase of over $106,000 in sales per store implementing the project. This additional source of revenue can allow The Retail Store to increase community improvement and physical expansion of stores. Also, it provides an avenue toward opening a new store within a five-year time frame which further promotes the financial goal of reaching $5 million in sales. Ultimately, selection of the product line expansion project provides the easiest, quickest, and most cost-effective strategy to meet all store objectives.

Conclusion

With the use of weighted analysis to determine and prioritize four projects, the selected project will maximize The Retail Store’s ability and likelihood to meet their overall objectives within a five-year period. Through store product expansion, The Retail Store can begin fulfilling their vision and grow as a company. Alignment of this project with the company mission, vision, and strategic objectives will ensure initiation subject to meeting the criteria of workability (Khan, 2006, p. 12). Finally, based on how the given project was chosen, detailed explanations of the relationship between the project and the organization’s vision, mission, and objectives, a standard model in how to conduct project selection has been made apparent.

References

Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement. John Wiley & Sons.

GCU, (n.d.). The Retail Store [PDF]. Grand Canyon University. Retrieved from https://lc-ugrad3.gcu.edu/learningPlatform/content/content.html?operation=viewContent&contentId=05289042-b2f9-4f8e-bc07-7bb53b8cfdd3

Khan, A. (2006). Project Scope Management. Cost Engineering, 48(6), 12-16. Retrieved from https://lopes.idm.oclc.org/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=21557346&site=ehost-live&scope=site

Attachment 1

Project #1 Expand One Store Core Product Offering by 10%

Project #2 Open New Store

Project #3 Expand Size of One Store by 10%

Project #4 Participate in 10 Community Improvements Throughout State