Vancouver Mart Wholesale Store | My Assignment Tutor

Project Charte[GZ1] r Project Title: Vancouver Mart Wholesale Store                                      Team #: 1                     Project Sponsor: Gordon Zhou                                                                        Date Prepared: May 9, 2021 Project Team Members: Gagandeep Singh, Mohit Kaura, Virpal Kaur, Jagveer Kaur, Arshdeep Singh           Project Purpose or Justification: An investment firm is looking to invest in a new retail business in Vancouver. Foreign Investment Trust Inc. prefer to start the Wholesale Store by considering the high profit in [GZ2] this sector. Therefore, the strategies are developed to fulfil the vision and mission. To invest in the retail business, Wholesale store is the best option to have high profit margin in comparison to other retail business such as superstores, convenience, and online stores.Vancouver Mart will have attractive low price on practically every good or service with better quality.Measurable project objectives and related success criteria: The following objectives are listed below in order to ensure the project’s success: The primary goal of this project is to establish a project budget and find a local supplier to supply the equipment and materials.[GZ3] Complete the list of required resources like equipment, fixtures, rent, licenses and security etc.The project will be completed within the schedule timeline in the Project Charter Finish the project within an acceptable level of quality as determined bythe quality control team and the determined quality standards and specifications.High-level project description:   Foreign Investment Trust Inc. is looking to invest in the Wholesale Store Project located in Vancouver, Canada. To successfully and efficiently renovate an approximately 100,000 sq. ft. warehouse building which is leased for five [GZ4] years, the building will be renovated according to the requirements of the wholesale store. The renovation consists of the replacement of flooring, replace broken fixtures, increase storage space, increase lighting, etc. Moreover, the material and resources are purchased as required during the renovation.[GZ5]      Boundaries: The following constraints are applied to the renovation project: –              This project primarily focuses on the delivery of a new wholesale store which includes planning and design, construction, test and commission and clean      up. –             Renovation will be under the consideration of timeline, budget, scope, etc. –              The workers can work up to 3:30 p.m. however if someone wants to work extra then the maximum time period will be 5:00 p.m. and one of the workers must have a first aid ticket.  The contractor will work weekdays only unless noted otherwise. –              Safety office will be allocated on the construction site having one safety officer.  Worksite safety will follow industry standard, government regulated protocols and requirements.     Key Deliverables:   Project plan document through the surveys of renovation of other wholesale buildingsProject reports that outline the operations of a project without going into great detail, such as the equipment used, safety precautions, and labor employed.Permission from  the local building authority, getting license, lease agreementSign agreement with the building contractors, suppliers and interior architect.Renovation materials will be provided by the construction companyAll-level floor plans including the layout of main areas, the location and size of exits and other circulation areas, and the elevator [GZ6]  renovation includes foundation of design, electrical space allocation, lighting and electrical device selection, operation, power, and distribution concepts, feedback to plans, parts, and elevationsCreation of interior spaces and modifications to house cashier counters, washrooms, office, loading bays, storage areas [GZ7]                                                                                                                                 Overall Project Risks: [GZ8]  The Potential Construction risks: Occupational risk – first and foremost, an accident that can be catastrophic to a worker as a result of his or her actions, equipment, or third-party involvement. Financial risk – In this scenario, you should expect uncontrolled increases in fuel prices, construction stocks, economic problems, and interest rate risk.[GZ9]  Natural risks– Such as flooding, earthquakes, and other natural disasters can cause damage to our construction site and make it difficult to operate.   Common Risks are- Design risks– Errors and omissions in the design The design process is taking much longer than anticipated. Late improvements are requested by stakeholders. Doing the job in a manner that is not in line with the contract External risks- Changes are requested by new stakeholders. Objections from the public Laws and municipal codes are subject to change. Changes in the tax code Environmental risks- Environmental research is also incomplete. To prevent, reduce, or minimize environmental impact, new alternatives may be needed. Organizational risks- Staff turnover and an inexperienced workforce Late deliveries On a construction site, there is a lack of safety protection. Risks associated with project management Non-compliance with contract quality standards Contractor delays due to scheduling mistakes Conflicts inside the project team Right-of-way risks- Temporary building permits that have run out Inconsistencies in construction records Risks associated with construction Overruns in property costs Technology evolves.  Summary milestone schedule: Summary Milestones Timing Project Charter Spring 2021 Project Planning Completed Summer 2021 Project Kickoff Fall 2021 Design completed Fall 2021 Contractors Hired Winter 2021 Permits Obtained Spring 2022 Purchase of necessary equipment’s and renovation materials/supplies Summer 2022[GZ10]  Construction completion / closeout Winter 2022 Opening of store Spring 2023 Preapproved financial resources: The budget attained for the new store from the investors is about $6,500,000 for renovation and purchase of the material and resources.  Key Stakeholder List:   Internal: Foreign investment trust Inc.Management team[GZ11] Project SponsorProject team External: Provincial GovernmentPublic authorities (fire authority, health authority)Contractors for renovationSuppliers and VendorsSub-contractors (Painting, ceiling, plumbing)Building designerCustomers      Project approval requirements (i.e., what constitutes success, who decides the project is successful, who signs off on the project)   Success will be determined by the Project Sponsor, Gordon Zhou, who will also authorize completion of the project.Reviewed by Project Manager    Signed: Gagandeep SinghDated: May 09, 2021Approved by Project Sponsor    Signed: Gordon ZhouDated: May 11, 2021  [GZ1]Grade:  1/1 Key Summary: More project specific details have been provided past what was provided in the business case.  Please see comments below, adjust and keep the approved copy in your Project Drive.  [GZ2]Good.  Reviewed hypothetical ROI and ties back to business case.  [GZ3]Who will be conducting the renovations?  Usually this is done by a design team and then built out by a contractor team. Suppliers of equipment will be separate contracts but also very important. Suggested edit:  “The Primary goal of this project is to establish a project budget and for the renovations to be successfully delivered in whole without any cost overruns”  [GZ4]Good – referencing the high level project description as provided for in the business case.  [GZ5]Good – still high level but going into a little more details about key deliverables as part of the renovation.  [GZ6]Consider adding mechanical as well (e.g. heating, air conditioning, etc).  This usually goes hand in hand with electrical  [GZ7]The project mainly focuses on the renovation and delivery of the warehouse. While the training of staff, employment contracts are important – this is outside of the scope of this project.  [GZ8]This could be omitted to keep the project charter more concise.  [GZ9]Good point!  Escalation in material, labour and equipment costs/chargers is a major concern for construction projects.  [GZ10]Very good – added more details than the milestone table provided in the business case.  [GZ11]External

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