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Business Project Management

Scenario
You have just been hired as a Project Manager for Kingston-Bryce Limited and have been assigned your first project. Kingston-Bryce Limited (KBL) is a custom furniture manufacturer that specializes in hand-crafted dining room tables. The Board of Directors has identified an opportunity to purchase a competitor that also specializes in custom furniture. The acquisition of the competitor will enable KBL to expand operations and triple their workforce and will take 18 months to complete. In order for this acquisition to be successful, you will need to use your project management skills to ensure success.

Your first task is to create a project plan outline for the Board of Directors in Microsoft Word or Excel. You will need to create the timeline in Excel and copy that timeline into the Word Document. The project outline is essential for documenting all of the necessary tasks and milestones necessary to complete the project. The project is expected to take 18 months to complete, and the major milestones are broken up by quarters. You will need to be creative and develop the following items as if you were running the project.

Sample Answer

Kingston-Bryce Limited – Competitor Acquisition Project Plan Outline

Prepared By: [Your Name] – Project Manager

Date: 2024-02-04

Project Overview:

This project plan outlines the acquisition of a competitor specializing in custom furniture, enabling Kingston-Bryce Limited (KBL) to expand operations and triple its workforce within 18 months.

Project Objectives:

Successfully acquire the competitor within budget and timeframe.
Integrate the competitor’s operations seamlessly into KBL’s existing structure.
Minimize disruption to both KBL and the acquired company’s operations.
Achieve synergy and maximize the benefits of the merger.

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Timeline:

Quarter	Key Milestones	Description
Q1 (Months 1-3)	Due Diligence Phase	– Conduct comprehensive due diligence on the target company’s financial, legal, and operational aspects. – Negotiate and finalize the acquisition agreement. – Secure financing and regulatory approvals.
Q2 (Months 4-6)	Integration Planning Phase	– Develop detailed integration plans for all key areas (finance, HR, operations, marketing, etc.). – Establish a dedicated project team with representatives from both companies. – Communicate the acquisition plan and address employee concerns.
Q3 (Months 7-9)	Pre-Acquisition Phase	– Finalize integration plans and obtain necessary approvals. – Complete pre-closing activities (data migration, system integration, etc.). – Conduct training sessions for key personnel.
Q4 (Months 10-12)	Acquisition Finalization & Integration Phase	– Close the acquisition deal and transition ownership. – Implement integration plans across all key areas. – Resolve any post-acquisition challenges and monitor progress.
Q5 & Q6 (Months 13-18)	Ongoing Integration & Optimization Phase	– Monitor and address integration issues. – Refine and optimize operations to achieve synergy benefits. – Track key performance indicators (KPIs) and measure project success.

Detailed Task Breakdown:

The above timeline provides a high-level overview. A more detailed task breakdown with individual tasks, durations, dependencies, and assigned resources will be developed within each quarter using tools like Gantt charts or Work Breakdown Structures (WBS).

Budget:

A detailed budget will be developed based on various cost factors, including due diligence fees, legal fees, integration costs, training expenses, and potential employee severance packages.

Resource Management:

A dedicated project team will be established with representatives from both KBL and the acquired company. Additional resources may be needed from various departments like HR, Finance, IT, and Operations.

Communication Plan:

A comprehensive communication plan will be developed to ensure clear and consistent communication with all stakeholders, including employees, customers, suppliers, and investors.

Risk Management:

A risk management plan will be established to identify, assess, and mitigate potential risks throughout the acquisition process.

Change Management:

A change management strategy will be implemented to address employee concerns and ensure a smooth transition during the integration phase.

Success Measurement:

Project success will be measured against defined milestones, budget targets, and achievement of synergy benefits. Regular progress reports will be presented to the Board of Directors.

This project plan outline serves as a high-level starting point. A more detailed and comprehensive plan will be developed and submitted to the Board of Directors for approval before project initiation.

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Business Project Management

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Kingston-Bryce Limited – Competitor Acquisition Project Plan Outline

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