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Business Paper help. It is due 10/9 before 6:00pm.  A large corporate client on the brink of failure has hired a consultant (you) to solve their problem. You are tasked with organizing a plan to solve your client’s issue to be submitted to the Board of Directors. You must organize a plan to keep your client in business by following The Project Scope Checklist located in the textbook in Section 4.1—Defining the Project Scope.  Paper must identify the following in your project:  • Corporate client (Name of the company that’s hired you. I.e. Sears)  • Client’s issue (Example: declining sales due to too many competitors offering a similar product)  • How you plan on solving the problem using the six steps on the Project Scope Checklist: 1) Project Objective, 2) Deliverables, 3) Milestones, 4) Technical Requirements, 5) Limits and Exclusions, and 6) Reviews with Customer. Your submission/plan must be in following format:  • 5 page paper, minimum. Times New Roman, 12-pt font, 1-inch margins; no funny business with the formatting.  • Feel free to include charts, visuals, etc. However, make sure a majority of the paper is pure writing. Do not give me 4 pages worth of charts and graphs and 1 page of writing.  • Write in full sentences. Do not use fragments, bullet points, lists, etc. Your paper must be submitted via Blackboard or email by EOD Saturday October 9th. You can select a company that is currently in risk of failing (i.e. JCPenney) or one that’s already failed (i.e. Blockbuster). If you are choosing one that’s already been dissolved, please pretend that they are still open and you are trying to prevent their failure. Clearly explain what the company’s issue is that’s bringing them close to failure. Clearly explain what your plan wishes to accomplish. Clearly describe the risks involved if your plan fails. Midterm MGMT- 251 Operations and Project Mgmt. Spring 2021 Professor Bilotta March 21, 2021 New Jersey City University School of business Valerie Suga-Morales Radio Shack Introduction RadioShack was once a prominent electronics store that boasted the latest technologies of its time. They were well known for their computer parts, monitors, small electronic appliances for everyday home use, and much more. It was revolutionary at the time as it made finding specific electronics no less than a drive away, but as time went on and the advent of the internet emerged, new competitors sprouted and would eventually dethrone this electronics giant. There are several factors that led to its demise and eventual bankruptcy. This is a plan that I have created to save this company. We need to address the lack of an online presence, poor management, financial issues, and loss of company vision for the future. Project Objective The objective of this project first needs to analyze their target margins and how we can go about selling their products. Adapting to an online environment has proven successful from time to time. According to graph 1, Charm et al. provides a detailed breakdown on how consumers go about purchasing their products. There is no doubt most consumers would opt for an online purchase rather than in-person. Another issue that RadioShack faced was poor management as the management team was making harmful choices for the company. For example, they signed long leasing contracts, not providing prepaid phone options to consumers at the height of its popularity and had multiple turnovers on the executive level management (Moore, 2017). RadioShack lost their vision, while electronic stores such as Apple, Best Buy and GameStop continue to acquire new customers and serving their loyal consumer’s needs. Deliverables The next step would be to hire a web designer who can create a website that is consumer friendly and that even the least tech-savvy person can navigate, companies such as Sears and Kmart had to file for bankruptcy, because they failed to adapt to a new environment. McKinnon states “Sears catalog business was losing up to $1 million per day. The main culprit, something every retailer can relate to, high delivery costs. Distributing a catalogue with as many as 1,500 pages was expensive especially since Sears sold low margin items.” (McKinnon,2020) In the last 15 years Sears and Kmart had to shut down more than 3,500 stores and laid off 250,000 employees (Kristensen,2020). We must learn from their mistakes; we can avoid bankruptcy by immediately switching over to e-commerce and providing our consumers a website and possibly a Radio Shack app. Having an online option for our customers would increase sales and reduce the number of RadioShack stores to create positive gains.Graph 1. Consumers switching to online purchases, before and after COVID-19. To continue, I noticed that there has been a high turnover rate in the management department, according to Zippia “In 2004, RadioShack was the target of a class-action lawsuit in which more than 3,300 current or former RadioShack managers alleged the company required them to work long hours without overtime pay.” We need to restructure on how we treat our staff. It is unacceptable as a company to allow dedicated managers to be unpaid for their hard work they had done, and if we do not have enough money in our budget to pay overtime then it is our responsibility to allocate funds towards that or hold mangers accountable by notifying them there will be no overtime pay during certain weeks. Farfan from Retail Industry mentioned the RadioShack mission statement says, With its convenient and comfortable convenience stores, qualified sales staff help customers get the most from your technology products.(Farfan, 2015) Our staff are dedicated to work with customers, making sure they are well taken care of with any electronical needs, without the support of our staff, we cannot run this company.Figure 1. A RadioShack employee displeased with the working condition In addition, RadioShack has financial issues and there are ways to fix the problem. RadioShack has an excessive number of stores located near each other. Blokhin from Investopedia states “there were 25 stores near Sacramento, California, located within a 25-mile radius, and seven stores within five miles around Brooklawn, New Jersey.” We need to collect data and information on which stores have the highest sells and the lowest sells, the population in the area and statistics on how far customers are willing to travel. According to Access, The National Consumer Study Summery mentioned “93.2\% of consumers patronize local merchants within 20 minutes/miles from home, consumers will typically travel no more than 10 minutes from home for frequent purchases made once or more per week. Consumers are willing to travel further away from home for regular, yet less frequent purchases, but typically not greater than 20 minutes/miles from home.” Figure 2 shows a study on how far an average consumer is willing to travel for each good (Access, 2017). While we are collecting the data, the web designer would create a website and app, this would allow the company to invest less money on signing into long lease and create a profit from online purchase and RadioShack that have a high foot traffic. RadioShack has fallen behind on each newest trend, besides moving the company to e-commerce, they were also late when prepaid phone was booming. Moore said, RadioShack was behind the Prepaid phone trend, companies such as Walmart and Target easily sold prepaid phones to consumers who had low credit scores. “Commission on Prepaid are one fifth or worse than what a postpaid activation pays and below the profit margins Shack needed to maintain in their stores. Prepaid had been between 10\% and 20\% of the wireless channel prior to 2006.” Prepaid phones were sold the most when the economy collapse from 2006 to 2008 and it continued to increase in 2010. Radio Shack could not meet the same margins as Walmart and Target. (Moore, 2017)Figure 2. Consumers are willing to travel for goods. Milestones As mentioned earlier, RadioShack has an excessive number of stores, to solve this issue we would need to collect sales data, foot trafficking, and the rent amount on each location. Then we need to research the population around the location, who is the demographic? Are there other competitors close by? Where is the nearest neighborhood? Is the location in a mall or shopping plaza? After collecting the data, the company must compare each store from the greatest number of sales to the least, which location has the most population near them, the cost on rent in each location. From the information that we had gathered, we can decide which locations can stay and which ones we can close, this way the company can save some money. During the removal processes, the web designer should be working with the advertisement team on developing a website and an app for consumers to use and shop. We can take the sales data before and after the launch of the new digital system and compare them making sure we are hitting our target margins. To improve the management problem, RadioShack should make all employees and management meet up with district management to discuss and evaluate, the team’s concerns, interest, issues, skill levels, etc. The district manager should have report on all the staff including managers then have a district meeting to discuss the information that has been gathered. The company should send out a new updated availability sheet to the team every six months, this would allow employees to change their availability if needed and lets the corporate and district managers be constantly informed, making sure the employees do not reach overtime and if overtime has been reached, ensuring we have enough money in our budget when our employees and management work overtime. RadioShack should stop selling prepaid phone and focus on providing customers with a cheaper contract alternative phone service. These phone services are getting expensive, according to Money Saving Pro states “Americans aged 25-64, paid $114 a month on average for cell phone service in 2018.Thats a staggering annual cost of $1,368 per person!” (Money Saving Pro, 2021) Chart 1. Shows a list all the phone providers including the cost of the data plan. RadioShack can gain new clients while keeping the loyal ones. Chart 1. Phone providers with their prices and plans Risk Factor With every plan there is a risk factor. This risk includes not hiring a web designer in an appropriate time, unsatisfied employees and managers with the new changes that are implemented, breaking lease with landlord leading to pay more in rent, website and app crashing due to a malfunction, finally falling behind on the leading trends. Technical Requirements To begin, RadioShack should release job opportunity for web/app desiners by holding a hiring event and post listing on to websites such as, Indeed, Glassdoor, Google jobs, and ect. Then the hiring manger should hold interviews, making sure the person is well knowledgable, and experienced, the questions should be: what one project you are most proud of? Tell me about a time you received harsh criticism from a client. How did you handle it? What steps do you take during your design process and how much do you involve clients? How do you incorporate current design trends into your projects? And ect. After quetioning, the hiring manger should ask the applictant for a portfolio of their work and a copy of their resume. Once we hire a web designer, we need to work closely with the designer. The app and the website should include a reward system, curbside pickup option, discounts and coupons, scan and pay, scheduling option for repairs, instore pick up, rates and reviwes. After the app and website is completed, we need find a lunch date to celebrate the completion of the app to help promote it, we can advertise it throughout social media, and layout flyers in the RadioShack store locations.Figure 4. Smartphone with apps Figure 3. Resumes Limits and Exclusions Furthermore, we have discussed our project objective, which includes the lack of an online presence, poor management, financial issues, and loss of company vision for the future. We also discussed how to fix these issues with the plan I had laid out. There are some aspects of RadioShack that we should not include to our plans, keeping the name RadioShack is best because many people are familiar with it brand, store layout is another topic that can be discussed after we make the major changes that are listed, and finally keeping other services that RadioShack offers such as customer support allows consumers to connect with employees and according to Comparably, “The companys knowledgeable sales associates and brand position, . Youve Got Questions, Weve Got Answers, (Comparably, 2021) Reviews with Customer After we execute the Project Objective Plan for RadioShack, it is important to pay attention to Customer reviews. RadioShack needs to collect data from customers before and after the changes that were made, they can collect reviews from Google and Yelp. Adding a review section on the RadioShack website will help to reach out to unsatisfied customers, Figures 5 shows two negative reviews that was posted on Trustpilot. Figure 5. two negative review posted on Trustpilot Conclusion With the plan I have created, I have no doubt RadioShack can rebound in terms of sales and customer satisfaction. By addressing the issues of the lack of an online presence, poor management, financial issues, and loss of company vision for the future, we to remind ourselves about our duty to the community which was “With its convenient and comfortable convenience stores, qualified sales staff help customers get the most from your technology products.(Farfan, 2015) Changes need to be made from the top of the company to the consumer level to see growth within our business. Thank you. References · 11, Rickey Allen August. “Resume Writing Tips: Optimize Your Resume.” GetFive, 11 Aug. 2020, getfive.com/blog/build-stellar-resume-getfive-way/. · 15 Eye-Opening Online Shopping Statistics for 2020. 25 Feb. 2021, sleeknote.com/blog/online-shopping-statistics. · Blokhin, Andriy. 5 Reasons Why RADIOSHACK Went out of Business. 12 Jan. 2021, www.investopedia.com/articles/investing/081315/5-reasons-why-radioshack-went-out-business.asp. · Bureau, ET. “Why Mobile Apps Require Access to Your Data and Device Tools.” The Economic Times, Economic Times, 5 Aug. 2019, economictimes.indiatimes.com/small-biz/security-tech/technology/why-mobile-apps-require-access-to-your-dataand-device-tools/articleshow/52138161.cms. · Charm, Tamara, et al. The Great Consumer Shift: Ten Charts That Show How Us Shopping Behavior Is Changing. 14 Dec. 2020, www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-great-consumer-shift-ten-charts-that-show-how-us-shopping-behavior-is-changing. · “The Impact of Retail Proximity on Consumer Purchases.” Evelopment 800-840-0032 • AccessDevelopment.com • Proprietary & Confidential to Access Development • Copyright 2016-2017 1 National Consumer Study Summary, cdn2.hubspot.net/hubfs/263750/Access_Consumer_Spend_Study_2016.pdf. · McKinnon, Tricia. The Downfall of SEARS, 5 Reasons Why Its Struggling to Survive. 26 Feb. 2021, www.indigo9digital.com/blog/failureofsears#:~:text=Sears\%20catalog\%20business\%20was\%20losing,relate\%20to\%2C\%20high\%20delivery\%20costs.&text=Sears\%20shut\%20its\%20catalogue\%20business,business\%2C\%20from\%20scratch\%20in\%201997. · Michael MooreFollowSr. Sales & Operations Executive | Turnarounds & Biz Development | Expansion & Brand Strategies | Product Launches | M&ALike19Comment0ShareLinkedInFacebookTwitter0, and Follow. The Real Reasons Radio Shack Failed. www.linkedin.com/pulse/real-reasons-radio-shack-failed-michael-moore. · RadioShack Careers & Jobs. 31 Dec. 2020, www.zippia.com/radioshack-careers-60612/. · “RadioShack Employee Has No Idea Why Theyre Considered Essential.” The Hard Times, 13 Apr. 2020, thehardtimes.net/culture/radioshack-employee-has-no-idea-why-theyre-considered-essential/. · “RadioShack Is Rated ‘Poor’ with 1.8 / 5 on Trustpilot.” Trustpilot, www.trustpilot.com/review/www.radioshack.com. · “RadioShack Mission, Vision & Values.” Comparably, 18 Nov. 2019, www.comparably.com/companies/radioshack/mission. · The Right Way to Hold People Accountable. 9 Mar. 2016, hbr.org/2016/01/the-right-way-to-hold-people-accountable. · rollej50. Radio Shack Mission Statement - Clear and ... 1 Jan. 1970, retailindustry-us.blogspot.com/2015/02/radio-shack-mission-statement-clear-and.html#:~:text=The\%20mission\%20statement\%20of\%20the\%20Radio\%20Shack\%20is\%3A,most\%20from\%20your\%20technology\%20products.\%22. · Webber, Rob. “Average Cell Phone Bill in 2021 - Now $114 per Month!” MoneySavingPro, 14 Mar. 2021, www.moneysavingpro.com/cell-phone-plans/comparing-us-and-uk-bills/#:~:text=Americans\%20aged\%2025\%2D64\%2C\%20paid,cost\%20of\%20\%241\%2C368\%20per\%20person! MGTG 251-2141: Midterm 1 Midterm Di Chen New Jersey City University School of Business MGTG 251-2141 Operations & Project Management Professor Brianna Bilotta March 21, 2021 MGTG 251-2141: Midterm 2 Project Scope Checklist for Folli Follie The corporate client shall be Folli Follie, a Greek-based luxury jewelry, watch, and accessory company. Folli Follie has several locations throughout the world. The company has hired me to improve management practices and increase sales by 25\%, starting with the WTC Oculus store. Folli Follie’s main issue is poor management. The company knows I have experience as a sales associate and has hired me to fix the problem. Even before the COVID pandemic, Folli Follie was not hitting its revenue targets. The company wants to introduce a pilot program at their flagship NYC location in the WTC Oculus. They have commissioned me to write a new management and sales handbook. The rent at the Oculus is very expensive so sales have to keep up to justify the expensive location. Since consumers still prefer to try on jewelry, watches, and accessories before purchasing them, E-commerce sales are lower than in other product categories. Therefore, Folli Follie’s retail locations are critical to the company’s financial success. Since consumers still prefer to try on jewelry, watches, and accessories before purchasing them, E-commerce sales are lower than in other product categories. Therefore, Folli Follie’s retail locations are critical to the company’s financial success. If successful, the program will be deployed at all of Folli Follie’s other locations throughout he US and the world. Folli Follie has experienced poor management at its stores. A decade ago, the consumer perception of Folli Follie was high. Consumers thought it had decent designs. It was a mid-level luxury brand for the middle class. Its jewelry, watches and accessories are neither cheap nor too expensive. Poor management, however, has affected morale in the stores, resulting in poor sales. The current sales tactics result in below average results. Store managers are pressured to increase MGTG 251-2141: Midterm 3 sales but are not given a clear direction on how to do this. Each store manager improvises. If this problem of low sales is not solved within the year, Folli Follie will be forced to close many of its most prominent stores. At the WTC location, there are currently two part-time sales associate, two full-time associates, and one full-time store manager. Trust and morale is low among sales associates. I have witnessed other sales associates stealing each other’s clients. I have also observed that management does not have true respect for the customer. Their first instinct is to pressure customers into buying merchandise and “make the sale.” As a former sales associate at Folli Follie, I knew that shoppers do not want to be harassed when they first enter the store. However, a corporate manager once came in and told me to be “more aggressive” with my customers. The corporate manager told me how women like to shop. Of course, his goal was to increase sales, but his method was incorrect. Management also bases potential sales on appearance. They encourage sales associates to ignore people who are dressed not as nicely. I have observed, however, that nicer clothes and appearance does not necessarily correspond to higher purchasing power. In many cases, people who dress “nicely” liked to try on many things, but ultimately did not make a purchase. On the other hand, some people who dressed “not nicely” bought things right away. Everyone one at the store, management and staff included, is unhappy with current practices. The typical Folli Follie sales associate has a passion for jewelry. This should be encouraged and nurtured by management. One thing that Folli Follie does right is that it lends its sales associates the same watches, jewelry, and accessories that they sell. This means they bring it home with them and know the pros and cons intimately. The new sales handbook will encourage this love of Folli Follie’s merchandise. The manual will propose a “Meet the MGTG 251-2141: Midterm 4 Designer” series. The jewelry and watch designers will be able to take questions directly from the sales associates. The more the sales associates know about the jewelry, they can talk with customers smoothly. Managers should educate their sales associates in the “science of shopping.” Sales associates should support each other. The heart of my new manual will be changing bonus incentives to encourage teamwork. Currently, Folli Follie uses an individual commission-based bonus system to encourage sales representatives to generate sales. This system is broken. Instead of encouraging teamwork and shared goals, it encourages sneaky behavior and stealing clients. In my new sales manual, the heart will be a team-based bonus system, modeled on the Whole Foods approach. The CEO of Whole Foods, John Mackey, writes that, teams are involved with hiring, selection of products, and even compensation. Teams also have profit responsibilities, based on team performance (Mackey & Sisodia, 2014). Whole Foods uses “gain-sharing,” where a team increases productivity, everyone on the team shares in on the bonuses. The bonus is paid in proportion to the individual’s hours worked. This aligns the individuals together in team effort (Mackey & Sisodia, 2014). Using the Project Scope Checklist, I will propose to Folli Follie’s management an alternative way to increase profit with my new sales manual. It will be collaborative, comprehensive, humane, and respectful – both to the sales associates and to the customer, our two greatest assets. The Project Objective will be to increase retail sales in Folli Follie’s WTC Oculus location. Sales will need to increase by 25\% within a year’s time. In order to increase sales, several approaches need to be taken, including a new incentive structure for sales associates. Morale is low among staff and turnover is high, so we need to move quickly. Sales associates are Folli Follie’s greatest asset and public face. Management has to understand the “science of MGTG 251-2141: Midterm 5 shopping,” as advocated by Paco Underhill. In his book, “Why We Buy,” Underhill writes that customers should be given breathing room when they first enter a store. A sales associate should acknowledge them, give a friendly smile and hello, but allow the customer to wander through the store (Underhill, 2008). Sales associates should be ready to assist in case the customer has any questions, but not be too aggressive. The project deliverables will consist of four items, including a new sales manual, a new team-based compensation structure, a loyal customer and referral program, and a new hiring process. First, the new sales manual for local store managers and sales associates will be a guidebook and training manual. Second, the individual commission-based model of compensation will be replaced with a new team-based compensation structure. This will promote teamwork and shared goals. Third, a loyal customer and referral program will be rolled out. Fourth, a new hiring process will be implemented. It will involve the existing sales associates as part of the hiring process. The store manager and the sales associates will have to vote on new employee candidates. The sales associates’ skillset will need to be balanced. For instance, one sales associate may speak Spanish, while another speaks Mandarin. There will be several milestones to track progress. The first major milestone is that the new sales manual will need to be researched and written in a month. The WTC Oculus store location needs to significantly increase sales, so there is not too much time. The second milestone is that it will need to be approved by management. This process might take between two weeks and a month. The second and third milestones are weekly team-based sales targets and quarterly team-based sales targets. We need to measure and track our progress to know if the team-based approach is working. The last milestone will be Christmas and New Year’s sales. MGTG 251-2141: Midterm 6 This will be the official end of the project. By the holidays, we will know if the project is successful or a failure. To achieve the project objective, there are several technical requirements. A better customer service tracking system software will need to be implemented. The tracking system will be maintained by the sales associates under the supervision of the store manager. For instance, sales managers will log in how long an interaction took place and what language was used. The WTC Oculus is a major tourist destination, so people from around the world speak many languages. Another technical requirement will be a streamlined point-of-sales. Instead of ringing someone up at the cash register, the sales associates will be equipped with iPad and mobile card systems. This will streamline the sales process. Third, during their down time, sales associates will be uploading and post to the Folli Follie’s NYC social media accounts. While the sales associates have down-time between customers, part of their responsibilities will be to post social media about the store. New sales associate hires need to be comfortable with social media. Through Folli Follie’s social media accounts, employees will unveil new jewelry as soon as they come in. The goal is to show that Folli Follie is not just a big corporation, but it is local and part of the community. The limits and exclusions will include a deadline for the new sales manual. The scope is clearly defined as increasing sales by 25\%. The sales manual will have to be researched, written, and distributed within a month. The reason for this urgency is because Folli Follie in-store sales are falling. After putting together a fast-tracked schedule (Figure 1), I know that the critical parts will be getting approval from management. Therefore, I am proposing that management gives me complete authority once they have approved the sales manual. I need to be able to implement the customer loyalty program, new hiring process, and new team-based bonus within nine weeks. MGTG 251-2141: Midterm 7 My argument is that the new bonus structure and new hiring process will not require new money, just new organization. If I need to go back for approval for every deliverable, the project will take more than one year, and the store will close due to low sales. This is urgent. It is important to develop a long-lasting relationship with the clients. At the point of purchase, we will give them the option to submit their email address to be eligible for in-store credit and other promotional events. Also, we want to hear feedback from customers. We will develop short but informative questionnaires, asking about how their shopping experience was and how it can be improved. Most importantly, the sales manual will emphasize that the associates are the public face of the company. By implementing these new measures, I am confident we can increase employee happiness and profit at the same time. Figure 1: MGTG 251-2141: Midterm 8 References Underhill, Paco. Why We Buy: The Science of Shopping--Updated and Revised for the Internet, the Global Consumer, and Beyond. Simon & Schuster, 2008. Mackey, J., & Sisodia, R. (2014). Conscious Capitalism: Liberating the Heroic Spirit of Business. N.p.: Harvard Business Review Press. Tatiana Gonsalves Operations & Project Management Midterm Victorias Secret was born at the peak of womens sexual revolution. It all started in 1977 when founder Ray Raymond wanted to buy his wife sexy lingerie but didn’t feel comfortable walking into a store to do so. He then had the idea to create a store for men where they could freely walk in and experience shopping for sexy underwear for any women in their lives. Although the lingerie was made for women their target audience was men which almost caused the first brink of bankruptcy. With the help of CEO Leslie Wexner, they revamped their approach and largely contributed to what Victoria’s Secret is today: one of the most known brands for glitz, glam, and sexy intimate apparel. However, history seems to be repeating itself; Victoria’s Secret is still failing, and for a lot of the same reasons that originally dated back to the 1970s. Hundreds of Victoria’s Secret stores have been permanently closed and that number only seems to be growing. Without change, VS is estimated to become another Blockbuster situation; a once popular brand that is not around anymore because they failed to be innovative. There are many reasons why Victoria’s Secret isn’t doing so well but the main one is their lack of innovation; they refuse to adapt to todays climate. This is not the 70s anymore..an approach that worked back then does not work right now. Todays society is very into womens rights, body positivity, and inclusivity. VS is lacking in most of those departments. They are a brand that still executes oversexualized and unrealistic body standards; they still retouch and airbrush ads of their already beautiful models. Women notice this and are not happy; competing brands notice and create a competitive advantage. In 2014, Aerie, a competing intimate apparel brand announced that they would no longer retouch any ad photos of their models. They also have become more body positive and inclusive. Their campaigns include a large range of models with different shapes, sizes, races, disabilities, and more. Since then their sales have grown tremendously and continue to do so; they are now one of the top leading brands in the intimate apparel industry. For 23 years Victoria’s Secret has hosted its very famous Angels Fashion Show. What started off as a fan favorite quickly turned into a controversy due to their lack of diversity once again. They kept the same exact approach for 23 years; a show strictly showcasing tall, slim, picture perfect “angels”. The brands response to all the backlash was to add their very first “plus size” model to the show in 2018. This plus size models name is Barbara Palvin and she is a size four. VS also made it clear that they did not plan on making their show inclusive when an ex-chief marketing officer dismissed the idea of adding actual plus size and transgender models to the show. These ongoing issues then lead to VS officially announcing that their fashion show was coming to an end in 2019. Instead of making the show more inclusive they decided to just end the show all together. These are all factors that have contributed to the brands declining sales. Although Victoria’s Secret has had their issues and created a lot of controversy over the years I believe the brand can be saved. VS was once extremely popular and the peoples choice; I think we can get that back the right way. My plan is to completely revamp VS and what it stands for; it is extreme but necessary. Any outdated, sexist, and body exclusive values the company seems to carry will be permanently executed. Women of all age, race, body type, shape, ect will be able to feel like they belong and can shop without judgement. My plan will start with bringing back the fashion show but in a completely new light. The goal is to have a long overdue diverse show: no model will look the same. Petite, curvy, plus size, tall, short, disabled, and transgender women are welcome and encouraged to sign up. Right before the show starts we will apologize for how long it took for change, and emphasize how committed we are to change now. We will also discuss our plans of action that will implement this change effective immediately. These actions will include: the end of oversexualizating models, less extremely sexual ads, no more retouching/photoshopping ads, and improving the in store experience by having all sizes available on hand rather than online only. After being assigned this role I went to multiple VS locations to check them out. Even though I went to several different stores they all seemed to have the same problem: many of the larger sizes were not available in store. These stores were fully stocked with XS and S in every style but a majority of the plus size apparel had to be ordered online. This is not okay; people do not go to a store and shop with intentions to buy online. According to Acute Market Research the plus size market is valued at over $178 billion with a projected 4.3\% annual growth through 2028, and 70\% of women in the US are size 14 or larger. This is a huge market VS is choosing to miss out on for not being totally inclusive. I believe my plan can help VS gain that market which will then have a domino effect to then attract all types of women in the market. Taking the same approach as Aerie is the best way to save the company. Below I have attached a chart of Aerie’s sales and revenue for 5 years after they made the switch to become more body inclusive and positive. While my plan does involve a lot of risk, I believe it will ultimately go one of two ways. Consumers will either be happy about the long awaited change and embrace it or they will think it’s too late and not show any interest. I believe most people will embrace the change but I also acknowledge the risk of spending hundreds of thousands on production for the fashion show and all the stores overall changes for the chance of consumers not being into it. Not only is there a possibility consumers might not be on board, there’s also the risk of sponsors from previous fashion shows not being on board as well. Some sponsors that have been involved in the show for years like the show the way it is and may not be ready to adapt to this change which could result in them pulling out from the show completely; it’s unfortunate but a possibility. However, I believe the positive will outweigh the negative. This is one of VS’s last chances to prove to their customers all over that they have listened to everyones concerns and are working towards actual change that will cater to all. These changes can ultimately make or break Victoria’s Secret but I am confident they will make it. With the use of the six step project scope I will break down my plan in revamping Victoria’s Secret. First I will be discussing the project objective. My main objective is to make women of all shapes and sizes comfortable enough to shop at VS. I want to expand their market and bring in all types of consumers. Overall I just want Victoria’s Secrets controversial past to stay in the past and move forward with all these great and inclusive ideas. In order to make my objective come to life, I need deliverables. These deliverables include the revamped VS fashion show, ordering more units of plus size stock for in stores, and ending the use of photoshop/airbrush on ad photos. The fashion show will showcase all types of women and represent change and diversity. The beginning stages for this include finding a venue, hiring models, organizing the stage & lighting, finding sponsors, and gathering runway outfits. We also need to order more plus size apparel and start shipping them out to all stores. Finally, we need to seize any upcoming ads that have been altered and replace them with the original and natural photos. On February 19th, 2021 the $30 million budget for the Angels Fashion Show was approved. On February 26th, 2021 the setting and venue was approved. On March 9th, 2021 models were hired. We have received thousands of applicants and from those we have picked about 70 models who we believe will best showcase what the show is all about. On March 17th, 2021 The Beachwaver, a previous hair sponsor for the show agreed to return once again and remain one of our sponsors. The technical requirements are a little different with the show this year. Our venue must comply with all the COVID restrictions and guidelines. The venue is in New York so our show can host at 25\% capacity. Masks must be worn inside and anyone attending is required to show a negative COVID test result within 72 hours of the show. Models must be regularly tested 2-3x a week leading up to the day of show. There must be a main setup so the show can be livestreamed not only online but on television as well. A majority of plus size apparel units must go out before the show is aired. Each model is limited to a total of 3 changes for the show. Rehearsals must take place between the hours of 10am and 7pm. Only Victoria’s Secret apparel will be permitted for the show. The fashion show must start at exactly 5:00pm and end at 8:45pm. The venue must limit its capacity at 25\% at all times: no exceptions. After the show airs we will track Victoria’s Secret sales and traffic both online and in stores. This will ultimately give us feedback on how the show has affected our consumers. If everything goes according to plan I believe sales will skyrocket and Victoria’s Secret will be the topic of conversation for a while. Although there are some risks involved the biggest risk is not doing anything at all and letting VS continue to repeat their problems until its too late. My team and I look forward to completing this project and bringing overall positive change to the brand. Chapter Four Defining the Project © 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. Because learning changes everything.® Where We Are Now 2 © McGraw-Hill Education Learning Objectives 04-01 Identify key elements of a project scope statement and understand why a complete scope statement is critical to project success. 04-02 Describe the causes of scope creep and ways to manage it. 04-03 Understand why it is important to establish project priorities in terms of cost, time, and performance. 04-04 Demonstrate the importance of a work breakdown structure (WBS) to the management of projects and how it serves as a database for planning and control. 04-05 Demonstrate how the organization breakdown structure (OBS) establishes accountability to organization units. 04-06 Describe a process breakdown structure (PBS) and when to use it. 04-07 Create responsibility matrices for small projects. 04-08 Create a communication plan for a project. 3 © McGraw-Hill Education Chapter Outline 4.1 Step 1: Defining the Project Scope 4.2 Step 2: Establishing Project Priorities 4.3 Step 3: Creating the Work Breakdown Structure 4.4 Step 4: Integrating the WBS with the Organization 4.5 Step 5: Coding the WBS for the Information System 4.6 Process Breakdown Structure 4.7 Responsibility Matrices 4.8 Project Communication Plan 4 © McGraw-Hill Education Five General Steps for Collecting Project Information Step 1: Defining the Project Scope Step 2: Establishing Project Priorities Step 3: Creating the Work Breakdown Structure Step 4: Integrating the WBS with the Organization Step 5: Coding the WBS for the Information System 5 © McGraw-Hill Education 4.1 Step 1: Defining the Project Scope Project Scope Defined Is a definition of the end result or mission of your project—a product or service for your client/customer. Defines the results to be achieved in specific, tangible, and measurable terms. Purposes of the Project Scope Statement To clearly define the deliverable(s) for the end user To direct focus on the project purpose throughout the life of the project for the customer and project participants To be published and used by the project owner and project participants for planning and measuring project success 6 © McGraw-Hill Education Project Scope Checklist Project objective Product scope description Justification Deliverables Milestones Technical requirements Limits and exclusions Acceptance criteria 7 © McGraw-Hill Education Project Scope: Terms and Definitions Scope Statements Is a short, one- to two-page summary of key elements of the scope, followed by extended documentation of each element. Is also referred to as “statements of work (SOWs)” Project Charter Is a documentation that authorizes the project manager to initiate and lead the project. Often includes a brief scope description as well as such items as risk limits, business case, spending limits, and even team composition. Scope Creep Is the tendency for the project scope to expand over time—usually by changing requirements, specifications, and priorities. 8 © McGraw-Hill Education Five of the Most Common Causes of Scope Creep Poor requirement analysis Not involving users early enough Underestimating project complexity Lack of change control Gold plating 9 © McGraw-Hill Education 4.2 Step 2: Establishing Project Priorities Three major criteria (trade-offs) that a project manager has to manage are: Cost (budget) Time (schedule) Performance (scope) A project manager can manage the project trade-offs by completing a priority matrix for the project and identifying which criterion is: Constrain—original parameter is fixed. Enhance—a criterion should be optimized. Accept—a criterion is tolerable not to meet the original parameter. 10 © McGraw-Hill Education Project Management Trade-offs 11 FIGURE 4.1 © McGraw-Hill Education Project Priority Matrix for the Development of a New Wireless Router 12 FIGURE 4.2 © McGraw-Hill Education 4.3 Step 3: Creating the Work Breakdown Structure Work Breakdown Structure (WBS) Is a hierarchical outline of the project with different levels of detail. Identifies the products and work elements involved in a project. Defines the relationship of the final deliverable (the project) to its sub-deliverables, and, in turn, their relationships to work packages. Serves as a framework for tracking cost and work performance. Is best suited for design and build projects that have tangible outcomes rather than process-oriented projects. 13 © McGraw-Hill Education Hierarchical Breakdown of the WBS 14 FIGURE 4.3 * This breakdown groups work packages by type of work within a deliverable and allows assignment of responsibility to an organizational unit. This extra step facilitates a system for monitoring project progress (discussed in Chapter 13). © McGraw-Hill Education How WBS Helps the Project Manager Assures project managers that all products and work elements are identified, to integrate the project with the current organization, and to establish a basis for control. Facilitates the evaluation of cost, time, and technical performance at all levels in the organization over the life of the project. Provides management with information appropriate to each organizational level. Helps project managers to plan, schedule, and budget the project. Helps in the development of the organization breakdown structure (OBS), which assigns project responsibilities to organization units and individuals. Provides the opportunity to “roll up” (sum) the budget and actual costs of the smaller work packages into larger work elements. Defines communication channels and assists in understanding and coordinating many parts of the project. 15 © McGraw-Hill Education Work Breakdown Structure 16 FIGURE 4.4 © McGraw-Hill Education A Work Package Is the lowest level of the WBS. Is a short-duration task that has a definite start and stop point, consumes resources, and represents cost. Should not exceed 10 workdays or one reporting period. Should be as independent of other work packages of the project as possible. Is the basic unit used for planning, scheduling, and controlling the project. 17 © McGraw-Hill Education Each Work Package in the WBS Defines work (what). Identifies time to complete a work package (how long). Identifies a time-phased budget to complete a work package (cost). Identifies resources needed to complete a work package (how much). Identifies a single person responsible for units of work (who). Identifies monitoring points for measuring progress (how well). 18 © McGraw-Hill Education 4.4 Step 4: Integrating the WBS with the Organization Organization Breakdown Structure (OBS) Depicts how the firm has organized to discharge work responsibility. Provides a framework to summarize organization unit work performance. Identifies the organization units responsible for work packages. Ties the organizational unit to cost control accounts. The intersection of work packages and the organization unit creates a project cost point or cost account that integrates work and responsibility. 19 © McGraw-Hill Education Integration of WBS and OBS 20 FIGURE 4.5 © McGraw-Hill Education 4.5 Step 5: Coding the WBS for the Information System WBS Coding System Defines Levels and elements in the WBS Organization elements Work packages Budget and cost information Allows reports to be consolidated at any level in the structure. WBS Dictionary Provides detailed information about each element in the WBS. 21 © McGraw-Hill Education Coding the WBS 22 EXHIBIT 4.1 © McGraw-Hill Education 4.6 Process Breakdown Structure Process Breakdown Structure (PBS) Is used for process-oriented projects. Is often referred to as the “waterfall method” in the software industry. Process-oriented project Is a project that the final outcome is a product of a series of steps and phases. Is a project that evolves over time with each phase affecting the next phase. Is a project that is driven by performance requirements, not by plans/blueprints. 23 © McGraw-Hill Education PBS for Software Development Project 24 FIGURE 4.6 © McGraw-Hill Education 4.7 Responsibility Matrices Responsibility Matrix (RM) Is also called a linear responsibility chart. Summarizes the tasks to be accomplished and who is responsible for what on the project. Lists all the project activities and the participants responsible for each activity. Clarifies interfaces between units and individuals that require coordination. Provides a mean for all participants in a project to view their responsibilities and agree on their assignments. Clarifies the extent or type of authority exercised by each participant. 25 © McGraw-Hill Education Responsibility Matrix for a Market Research Project 26 FIGURE 4.7 © McGraw-Hill Education Responsibility Matrix for the Conveyor Belt Project 27 FIGURE 4.8 © McGraw-Hill Education 4.8 Project Communication Plan Project communication plans address the following questions: What information needs to be collected and when? Who will receive the information? What methods will be used to gather and store information? What are the limits, if any, on who has access to certain kinds of information? When will the information be communicated? How will it be communicated? 28 © McGraw-Hill Education Steps for Developing a Communication Plan Stakeholder analysis—identify the target groups. Information needs—project status reports, deliverable issues, changes in scope, team status meetings, gating decisions, accepted request changes, action items, milestone reports, etc. Sources of information—where does the information reside? Dissemination modes—hardcopy, e-mail, teleconferencing, SharePoint, and a variety of database sharing programs. Responsibility and timing—determine who will send out the formation and when. 29 © McGraw-Hill Education Stakeholder Communications 30 FIGURE 4.9 © McGraw-Hill Education Shale Oil Research Project Communication Plan 31 FIGURE 4.10 © McGraw-Hill Education Key Terms Acceptance criteria Cost account Gold plating Milestone Organization breakdown structure (OBS) Priority matrix Process breakdown structure (PBS) Product scope description Project charter Responsibility matrix Scope creep Scope statement WBS dictionary Work breakdown structure (WBS) Work package 32 © McGraw-Hill Education © 2021 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. Because learning changes everything.® www.mheducation.com