Project Management : Opening a restaurant

 Develop Risk Assessment Matrix that showcases; list of identified risks, and risk response strategy.

Must use APA format.

List references if any. 

I will attach the paper you have to use to develop the Risk assessment matrix . 

Project Introduction

The business plan in place is to create a restaurant with a stable project management team. The chief project officer has to have the discipline of initiating, planning, executing, controlling, and closing the work of our team by achieving and completing the task at hand that fits our budget, timeline, and market overview.

Our project is to create a Caribbean restaurant that will target Asian communities with the flavors that everyone will love to visit in

Queens, NY

. The restaurant will focus on the Caribbean/Asian cuisine, island atmosphere, great music, and traditional hospitality. We will provide the best service and allow our customers access to most of their away-from-home daily meals on a one-stop-shop basis. We will want our restaurant to become the best place to eat.

 

The restaurant’s layout will be indoor and outside dining, take out, and delivery. Having all of the above will provide a better way for our patrons to decide which is best for them to enjoy our cuisine.   

Project Charter

Project Name:	Opening a Restaurant
Location:	Queens, NY
Project Manager :	Tyler Diaz
Project Start Date: Project Completion Date:	September 27th, 2020 January 20th, 2021
Project Description and product:	This project is to create a restaurant in Queens, New York. It will be preparing Caribbean cuisine. The project targets to produce and deliver Caribbean food in Queens’ market.
Project Objectives:	The project’s objectives are to provide healthy Caribbean meals while giving their customers affordable meals with the value of their money. For the project to meet this objective, it will avoid expensive means of delivering their products and use less expensive ingredients while preparing these Caribbean meals.
Milestone:	Project management plan, staffing plan, employee training plan, project schedule, site review, buying and setting up equipment, project design review, and restaurant opening.
Budget:	Estimated labor- $150,000 Material cost- $500,000 Traveling cost- $20,000 Contractors- $60,000 Total Estimated cost- $730,000
Project Constraints:	The main factors that will affect this project are budgetary constraints, competition, food allergies, labor laws, staff training, time management, and insufficient resources.
Project Major Risks:	Delays in delivering construction materials, wrong estimation of materials, harsh weather conditions, contractors’ poor performance, and hiked labor fees.
Key Stakeholders:	Tyler Diaz, Project manager Camilla Anderson, Executive director David Johnson, Marketing manager Heather Hopkins, Supplies manager

Project Justification

The project prepares the opening and start of the Caribbean restaurant. Providing the best Caribbean food and services aims at improving the satisfaction of the customer. Moreover, Project management is vital because it ensures what is being presented or delivered is right and will give the real value to ensure that businesses achieve their objectives (Meredith et al., 2017). The project of starting a Caribbean restaurant is to provide the Caribbean food and services like the take-out and dine in. 

Quantitative

Caribbean Restaurant sampling and population uses a random sample for the number of customers coming. In data collection, the restaurant uses highly structured questionnaires, and in data analysis, there are statistical calculations used by their employees. In results and reporting, the restaurant uses exact numerical results for their customers.  

Qualitative Analysis

In qualitative analysis, sampling involves the quality of services offered, but the numbers are not meaningful. There are less structured interviews and questions in data collection because the employees think that they may offend some customers. In data interpretation and analysis, the restaurant uses content analysis. When reporting on the results, they provide detailed instructions but less generalized ones.

Stakeholders’ Interests

The Caribbean Restaurant stakeholders include employees, owners, founders, and customers.

Customers

are the core stakeholders because the sole purpose of starting the restaurant is to cater to their needs. Customers are essential to any business, including that of a restaurant, because they are the drivers of revenues. Without them, it can be much difficult for the restaurant business to exist. Caribbean Restaurant ensures attainment of the customer’s satisfaction to ensure that they do not opt for their competitors. Therefore, serving customer satisfaction is essential for Caribbean Restaurant. The owners and founders are crucial for Caribbean Restaurant because they ensure smooth running, and they reflect on the past and chart the way forward.

Employees

in Caribbean Restaurant work to provide the needs of the customers to their satisfaction. Notably, customers ensure that customers are satisfied with their services to avoid their complaints. Therefore, all the stakeholders at Caribbean Restaurant have an interest in the success of the restaurant.

Stakeholders Identification

Project Stakeholders
	Internal	External
Affected by Project Process	Project Manager Functional Manager Subject Matter Experts Employees	Equipment Suppliers Real Estate Owner / Landlord Contactors Creditors Neighbors Media Partners County government
Affected by Project Result	Internal customer Sponsor	Food suppliers Environment Regulators Competitors Community leaders Customers

Project Assumptions

Assumptions are suppositions made during project planning that are treated as correct or factual, though they have not been proven (Meredith et al, 2017).

· The project scope will not change once the stakeholders sign off on the scope statement

· Materials will arrive as planned within the project schedule.

· There will be no changes to the budget once approved.

· Project resources will be available when assigned. 

· We will be able to hire and train staff within the project schedule.

· We will receive stakeholder approval of the project.

Scope Statement

Project Justification: The restaurant will be located in Queens, New York. It will major in producing Caribbean meals since this city is located on an island; hence seafood is more likely to be purchased in this area. Queens is a strategic location for this restaurant.

Project Scope Description: The restaurant will be producing and delivering Caribbean foods in Queens, New York. Besides, the restaurant will sell food at affordable prices.

Project Deliverables (Russell, 2015): Choosing a brand for the restaurant. Forming Menu Items. Writing down the business plan for the restaurant. Getting funds for the restaurant, which might include applying for a loan. Choosing a strategic location for the restaurant. Getting permits and licenses for the business from the government. Finding food suppliers and the necessary equipment. Designing the layout of the business. Employing the right employees. Finally, advertising the restaurant.

Project in scope and out of scope:

1. In scope-One acre for building space. Employing the right staff to work in the business. Produce Caribbean foods and deliver them on time upon request by customers.

2.Out of scope-It will produce other meals other than Caribbean food.

Work Breakdown Structure

Work Breakdown Schedule (WBS) is essential as complex project processes are classified into simpler activities. According to General Knowledge (2019), WBS is “a process of subdividing the project deliverables and project work into smaller, more manageable components” (1). Therefore, the WBS will make the Caribbean restaurant project more controllable as different teams will focus on their responsibilities to ensure timely completion of the activities. Additionally, the project manager, Tyler Diaz, can conduct a follow-up and identify what is missing and whether the budget can sustain the restaurant opening plans. 

Additionally, the WBS helps the project manager determine the needed work to make the project successful (Harned, 2019) successfully. After determining the derivable, it will be easier to identify the specific tasks and activities.

The WBS incorporates different aspects, mainly the project scope. The scope entails different processes and factors determining the project’s success, such as objectives, deliverables, tasks, budget or co,t, and deadlines. The project scope’s main elements that interact with each other through a WBS include project initiation, scope planning, scope definition, scope verification, and change control. Khan (2006) argues that a detailed WBS translates to various levels in the hierarchy. Therefore, the Caribbean restaurant project WBS can have different stages depending on the variables and the tasks.

Caribbean restaurant WBS will be deliverable oriented, where the second level of hierarchy highlights the main derivable while the third level includes the activities that are necessary for level two to be complete. This type of WBS is effective and organized, hence easier to track processes to eliminate unnecessary activities and expenses. The main deliverables include materials, developing the menu, licenses, raw food suppliers, necessary equipment, and employing restaurant staff.

Materials include the construction tools, technique, and labor required to complete the project. The plan would be to break down the construction into packages such as the contractor, building materials needed, labor, and the estimated cost. Additionally, the restaurant will not operate without permit and license, especially because it is an enterprise dealing with the food; public health standards will be adhered to. It will be prudent to determine the license fees and the renewal duration.

The restaurant plans to focus mainly on Caribbean cuisine; therefore, identifying the relevant suppliers and food sources in advance are necessary. Moreover, not all chefs are specialized in Caribbean cuisines; therefore, qualified individuals, including other employees such as waiters, will be recruited. Training will be offered to meet the needs and goals of the Caribbean restaurant. Change control will also be put into consideration in case the restaurant management decides to offer different cuisine.

Other WBS includes employees and necessary equipment after the construction process has been finalized. The restaurant cannot function without the workers who are also the project stakeholders. The employees will undergo orientation and training to ensure they are well equipped with the right work ethic. The budget of each derivable can be estimated through the work breakdown structure, which will later be useful in the Cost budget. 

Therefore, from the discussion, it is evident that WBS is beneficial for project managers as it simplifies the complex project. This also helps in reducing costs and unnecessary activities. Without the WBS, the project would have been challenging to manage and control. Below is an illustration of the Caribbean Restaurant work breakdown structure.

 Fig 1. Caribbean Restaurant WBS 

Project Schedule

Cost Budget

With a planned $850,000 business credit line, Caribbean Restaurant will have sufficient capital to construct the restaurant, receive permits & licenses, hire staff, purchase equipment and secure food supplies for the fiscal year 2020-2021. Most expenses will be incurred during the Sept-Dec 2020 construction period.

$25,000

$25,000

$75,000

$0

$0

$125,000

$35,000

$25,000

$25,000

$25,000

$25,000

$25,000

$75,000

$0

$0

$75,000

$0

$0

$0

$5,000

$15,000

$0

$0

$0

$100,000

$6,250

$6,250

$2,000

$2,000

$2,000

$5,000

$5,000

$120,000

$10,000

$10,000

$10,000

$10,000

$30,000

$0

$0

$0

$0

$10,000

$0

$0

$20,000

$20,000

$0

$0

$0

Category	Budget	Sept 2020	Oct 2020	Nov 2020	Dec 2020
1. Materials	$500,000
Contractor		$125,000	$50,000								$25,000
Land				$75,000																				$0
Labor		$35,000		$30,000
Building Materials		$100,000
Delivery Van
0. Regulations/Licenses			$20,000
Permit				$5,000
License		$15,000
0. Staff	$150,000
Chef ( $8,333.33 /mo)	$8,333.33			$6,250
Waiters / Staff   ( $2,000 /mo)	$24,000				$2,000
Training	$36,000	$16,000						$10,000
0. Menu		$120,000
Food Supply (10k/mo)
0. Equipment	$60,000
Cooking Equipment	$30,000
Cutlery / Plating	$10,000
Tables, Chairs, Decor
TOTAL	$850,000