Explain the activities that occur when initiating a project.
As a Project Manager for Kingston-Bryce Limited you have been assigned to create a business case. The Board of Directors for Kingston-Bryce Limited (KBL) is eager to move forward with the acquisition of their competitor. The acquisition of the competitor will enable KBL to expand operations and triple their workforce and will take 18 months to complete with a projected cost of $5 million. In order for this acquisition to be successful, you will need to use your project management skills to ensure success.
Your task is to create a business case in Microsoft Word to justify the steps necessary to complete the acquisition. The business case is essential for providing justification and details of the scope of work for the project. You will need to be creative and develop the following items as if you were running the project.
Include the following (you will need to create these items):
- The purpose of the project
- The pros and cons of the project (benefits)
- Budget/Funding schedule (this is how you project to allocate the $5 million budget)
- Major risks or opportunities of the project