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Project portfolio management method

A project portfolio management is to ensure that projects are aligned with strategic goals and prioritized appropriately. This system also can go a long way to reduce, or even eliminate the impact of several problems such as the implementation gap, organization politics, and resource conflicts and multitasking. While project is in process, project portfolio management would help to ask the following questions:

· Are we doing the right things?

· Are we doing them the right way?

· Are we doing them well?

· Are we getting the benefits?

If the answer to any of these questions is no, immediate action is needed to bring the portfolio back on track. For my project, I will recommend using a general management focus for managing an organization’s resources and risks because it would give an organization the ability to make the best use of available resources by applying to the highest priority project, and reduce the number of risk and problems and increases success.

Executive summary

JavaNet, unlike a typical cafe, will provide a unique forum for communication and entertainment through the medium of the Internet. JavaNet is the answer to an increasing demand. The public wants: (1) access to the methods of communication and volumes of information now available on the Internet, and (2) access at a cost they can afford and in such a way that they aren't socially, economically, or politically isolated. JavaNet's goal is to provide the community with a social, educational, entertaining, atmosphere for worldwide communication.

Mission

As the popularity of the Internet continues to grow at an exponential rate, easy and affordable access is quickly becoming a necessity of life. JavaNet provides communities with the ability to access the Internet, enjoy a cup of coffee, and share Internet experiences in a comfortable environment. People of all ages and backgrounds will come to enjoy the unique, upscale, educational, and innovative environment that JavaNet provides.

Location

A site has been chosen in Arlington, VA of Wilson Blvd for the following reasons:

1. Nearness to the close-by residents.

2. Transportation available such as; metro station, buses

3. Proximity to stylish, upscale restaurants in the same area.

4. High visibility.

5. A lot of international community lives in the area, schools, and colleges around.

Vision and goal of the project

My project’s vision and goal is to become the leading Internet and Coffee café in Arlington area with a commitment to meet or even exceed customers’ need and satisfaction. Project also would like to deliver excellent quality services, operate in a responsible manner being up-to-date with the upgrading IT, and provide fast internet access in a homelike environment for a highly reliable and consistently satisfying customer experience. The outcomes of this project consist of to meet market demand for internet service, establish small business with low cost and high profit, transforming internet café into learning centers and facilitating access to IT in Arlington area, and creating IT lifestyle in Arlington area.

The major deliverables of the project

The creations of a unique, upscale, innovative environment that will make differentiate JavaNet from local coffee houses.

1. Educating the community on what the Internet has to offer to educate people in this area and creating IT lifestyle.

2. The formation of an environment that will bring people with diverse interests and background together in a common forum because it will motivate the various groups of customers to use our services.

3. Providing high-quality coffee and bakery items at a reasonable price because an excellent products could bring more customers to organization, then organization can make more profit.

4. Affordable access to the resources of the Internet and other online services to serve the customers the large amount of services.

5. Providing computer games, X-BOX, and phone call center to entertain and serve an extra service to customers.

JavaNet's customers can be divided into two groups. The first group is familiar with the internet and desires progressive and inviting atmospheres where they can get out of their offices or bedrooms and enjoy a great cup of coffee. The second group is not familiar with the Internet, yet, and is just waiting for the right opportunity to enter the online community. In my opinion all of my major deliverables of my project which is internet café are associated with each other. The key of success of any business associated with two major things, first; Good customer service and good quality of product and services the business provide to the customers. In my case, if I could provide a good family environment in my place and also, if I give discounts for selling more login tickets in my Internet café, Protect and keep fresh client computers for my next user, Share PC game license on my computers to reduce expenses, Allow multi-player games to increase my membership, Make my own city network of Internet cafe, well various items to increase my profit. All those tips will help me to measure my deliverables. For example; if I could provide to my customers good customer service but, in the poor quality of coffee or bakery item in this case my project will not be success. This project is a private business owned by one owner it has possibility to fail or success such as any kind of business. If I could cover my expenses for the first 6 months until I start getting my own customers, I think I will be fine, and also if I can get 10 customers every day for the first 3 months I guess am doing just fine. Arlington, VA, it’s a very active area, it has a large international community and college students these people are my target if I couldn’t get these people to my business my business definitely will fail.

Timeframe for delivering the solution to the project

This project contains with 5 phases as table below:

Generic resources

Estimate the costs

Start-up Expense Details:

Rent = $4,000

11 computers = $10,000

Two printers = $1,000

Two scanners = $800

Two routers = $300

Software = $810

One espresso machine = $10,700

One automatic espresso grinder = $795

Three big flat screen TV = $2, 200

Three X-Box =$1,200

Other fixtures and remodeling:

Two coffee/food preparation counters = $2,000

One information display counter = $2,000

One drinking/eating counter = $1000

Sixteen stools = $1,600

Six computer desks w/chairs = $2,400

Stationery goods = $500

Two telephones = $200

Decoration expense = $25,000

Total =$44,005

An additional cost is an unquantifiable cost relating to an identifiable source. Intangible costs represent a variety of expenses such as losses in productivity, customer goodwill or drops in employee morale.

Key to success

The keys to the success for JavaNet are:

1. The creation of a unique, innovative, upscale atmosphere that will differentiate JavaNet from other local coffee shops and future Internet cafes.

2. The establishment of JavaNet as a community hub for socialization and entertainment.

3. The creation of an environment that won't intimidate the novice user. JavaNet will position itself as an educational resource for individuals wishing to learn about the benefits the Internet has to offer.

4. Great coffee and bakery items.

Stakeholders

JavaNet project is a new kind of projects never exit in Arlington, VA, the business problem JavaNet will solve which is provide a high speed internet access to the customers with full privacy and secure system also, all kind of coffee, soft drink and bakery items. The project scope identified the primary stakeholder which is the business owner, customers, bank, students, business people and middle income groups.

Three key success criteria consist of:

1. Identify each stakeholder's interests, or win conditions. Examples of interests include desired financial benefits, specific time to market, required functionality, performance targets, or other quality characteristics.

2. Evaluate how the project will be affected if each interest is or is not satisfied. The project won't be able to fully satisfy everyone's interests, so this analysis will help you determine which ones are the most compelling.

3. Assess the relative influence each stakeholder has on the project's decisions. Some stakeholders may wield great political power, whereas others might dictate essential product features, impose restricting constraints, or generate substantial revenue.

References

Gray, C., & Larson, E. (2012). Project Management: The Managerial Process (5th ed.). Boston,

MA: McGraw-Hill.

arlingtonva.us. Retrieved August, 17, 2012 from http://www.arlingtonva.us/departments/cphd/planning/data_maps/cphdplanningdataandmapsfaqs.aspx

Franka, A. (2005). Cyber cafés a how-to manual. Retrieved from August, 6 2012 http://www.advocatesforyouth.org/storage/advfy/documents/cybercafe.pdf

Liu, I. (n.d.). chron.com. Retrieved August, 18, 2012 from http://smallbusiness.chron.com/five-duties-small-business-owner-13882.html