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Project Feasibility Assessment

Project Description

The project is “A Reward Program for a Soft-Drinks Company.” The purpose of the

project is to create a program that will reward and recognize the efforts of employees at the

workplace. It is expected that the program will increase employee retention and play a significant

role in creating a more positive workplace environment. Additionally, the reward program will

help enhance employee engagement, which will lead to increased productivity of the company.

The soft-drinks company where the project will be supported is called Sky Beverages. It is in

New York and is currently the fourth-largest soft-drinks manufacturer in the United States. The

company has experienced a drop in sales and a rise in employee turnover. Pertinent research into

the issue has revealed that there is a need to improve employee engagement and retention, which

in turn will improve the company’s productivity and overall sales.

Market and Competition

Inside the organization, the end-users of the project will be the employees. These are the

individuals who will directly benefit from the reward program. Several key performance

indicators (KPIs) will be defined and used to measure the work performance of the employees.

The rewards will then be offered to the employees if they meet or surpass the KPIs. Outside the

organization, the end-users of the project will be the consumers of the company’s products. It is

expected that the reward program will directly impact the company’s productivity. In turn,

consumers will get better services and products. It is also vital to note that the completed project

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will serve additional groups of stakeholders. Apart from the consumers and the employees, the

project will also serve the shareholders. It is expected that the value of the company’s shares will

rise by at least 15%. This means the shareholders will get more profits for their stakes and that

the company’s brand will grow within the community. All these stakeholders will be consulted

in the five phases of the project life cycle. This cycle saves time and ensures every stakeholder is

focused (“The 5 Phases of a Project Life Cycle,” n.d.).

The competition in the soft-drinks industry is very fierce but is dominated by two

companies: Coca-Cola and Pepsi. Suttles (2021) reports that the top three brands account for 35

percent of the market share. Therefore, smaller companies like Sky Beverages must be very

innovative and creative in their business strategies to stay afloat and increase their market shares.

The size of the soft drinks market in the US is currently valued at $253.7 billion with this figure

expected to rise by 5.1% over the next decade (Size, 2018). Therefore, Sky Beverages can utilize

the Reward Program to influence its overall growth and ensure it benefits from the forecasted

growth in the soft drinks company in the foreseeable future. Competitors control the majority of

the market through aggressive marketing strategies and innovative product designs. More so,

they actively engage the consumers to ensure they make products that will be well-received by

the masses. Consequently, the selection criterion of the project is to keep up with the competitors

(“Chapter 7: Starting a Project,” n.d.). The reward program will help Sky Beverages maintain the

current employees and attract top talent, which in turn will increase its productivity, sales, and

market share.

Technical and Resource Requirements

According to SHRM (2018), HR Departments should allocate around 1% of their payroll

on rewards and recognition. Therefore, Sky Beverages will structure its budget to ensure that 1%

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of its payroll goes into the implementation of this program. The reward program will cover three

costs: service awards, peer-to-peer recognition, and manager-to-peer recognition. A conservative

approach will be taken when starting the program. Therefore, there will be an allocation of $200

per employee divided as follows: Service Award ($100), Peer-to-Peer Recognition ($50), and

Manager-to-Employee Recognition ($50).

Recommendations

Based on the findings of this assessment, this project is deemed viable. For starters, it has

been determined that the implementation of the project will take up 1% of the company’s

payroll. This is a significantly low amount to start the project with and can be increased in the

future depending on the program’s success. Second, it has been deduced that the competition in

the soft drinks industry is very intense. Considering that Sky Beverages is not a major player in

the industry, it must be innovative to increase its market share. The reward program will help

Sky Beverages maintain the current employees and attract top talent, which in turn will increase

its productivity, sales, and market share. Finally, all these stakeholders will be consulted in the

five phases of the project life cycle. Therefore, the program will be kept in constant supervision

to ensure it attains its goals and helps the organization to grow.

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References

“Chapter 7: Starting a project.” (n.d.). Saylor.

SHRM. (2018). Using recognition and other workplace efforts to engage employees. Society for

Human Resource Management. https://www.shrm.org/hr-today/trends-and-

forecasting/research-and-surveys/Documents/SHRM-

GloboforceEmployeeRecognition%202018.pdf

Size, W. B. P. M. (2018). Share & Trends Analysis Report by Product, 2018 to 2025. Grand

View Research: San Francisco, CA, USA.

Suttle, R. (2021). Soft drink market research competitor analysis. Small Business.

https://smallbusiness.chron.com/soft-drink-market-research-competitor-analysis-

35166.html

“The 5 Phases of a Project Life Cycle.” (n.d.).