Question

Please complete the below format for a Project Charter. The project is building and opening up an average sized 24 hour coffee shop.

Any help is much appreciated! Thank you in advance.

Project Charter:

Background:

Objectives: * At least ten of them*

Scope

Client
Sponsor
Project manager
Project team members

Project Milestones

Event	Begin	End	Progress

Project Budget

Category	Description	Estimated Cost
		0
TOTAL

Risks

Category	Description	Probability Estimation	Revenue Estimation	Total Estimated Financial Risk
TOTAL

Approval Signatures

Answer 1

The required Project Charter is shown below.

Background: The coffee shop business is way too familiar with mainstream America. Examples include Starbucks, Dunkin Doughnuts and numerous local coffee shops. Even though the coffee business is billions of value, there is no dearth of customers to serve.

The city of Chicago offers a vastly diverse demographic urban population for "Costa Coffee Cafe" to begin its operations.

Costa Coffee Cafe aims to capture a significant market share from the competitors by creating an unparalleled customer service experience including a unique atmosphere designed to enhance the senses of its customers.

Objectives:

1. To become selected as the "Best New Coffee Shop in the area" by the local restaurant guide within the first 3 months of operation

2. To offer the best in quality and vast varieties of coffees, teas, espresso drinks, and other accompaniments at all times to everyone

3. To maintain 65% gross margins

4. To turn in profits from the first month of operation

5. To aspire for quality and character in all product and service offerings

6. To provide first-class customer service that is prompt, friendly and efficient

7. To continuously strive to innovate new varieties of coffee to attract diverse customers

8. To provide customized offerings to our customers enhancing their experience

9. To strive to maintain long term relations with our customers

10. To maintain high-quality standards including food accreditations

Scope: The project scope involves the following:

i) To secure investment from investors

ii) To secure land for construction of the shop

iii) To facilitate construction of the shop

iv) Marketing of shop to the local Chicago residents

v) To ensure smooth functioning of the shop

vi) To ensure profits from the first month of operations

vii) To ensure high-quality standards and ethical practices

Client: Banks providing loans, Customers (local as well as from other states)

Sponsor: Funding for the company comes from two major sources--owners' investments and bank loans. The major owner with his partners has contributed $100,000.The remaining $80,000 needed to cover the start-up expenses and assets came from the two bank loans--a one-year loan in the amount of $30,000 and a long-term (five years) loan of $50,000.

Project Manager: Mr. Alex Ferdinand

Project Team Members: Mrs. Alexa Hailey, Mr. Diego Rodriguez, Mr. Donald Hernandes, Mr. Ivan Thomas

Project Milestones: These are mentioned as below

i) Approval of Project Charter

ii) Approval of Project by Project stakeholders: Financial and stakeholder analysis is presented to all the members

iii) Completion of Project Plan

iv) Approval of Project plan

v) Hiring of required personnel

vi) Initiation of Project Plan: Signature of all stakeholders

vii) Mid-Project Review: To include any business changes if required

viii) Project Completion: Outcome of the project documented for review

Event Progress (with Delivery dates)

Business proposal: April 15

Financial Analysis: April 30

Interior Design: May 15

Lease Agreement: May 30

Marketing Proposal: April 30

Coffee shop furniture: June 2

Kitchen Appliances: June 2

Coffee, Tea equipment: June 2

Office Furniture: June 10

Point of Sales System: June 15

Training: June 30

Non-perishable items: July 15

Perishable Items: July 30

Store manager employed: August 5

Store Staff employed: August 5

Operations begin: August 6

Project Budget: $180,000

Legal Expense $3000

Marketing Promotion $3500

Consultant fee $3500

Labour Expense $30000

Operating Capital $60000

Start-up inventory $20000

Equipment $60000

Risks:

i) To secure investment from the banks

ii) Approval of project charter by stakeholders

iii) Meeting deadlines

iv) Exceeding the budget

v) Changes in project requirements

vi) Hiring competent staff

vii) Failing to meet quality standards

Revenue Estimation:

Sales                       1st Year              2nd Year              3rd Year

Coffee beverages       $400000              $450000              $500000

Coffee beans             $60000                $65000                $70000

Other items               $35000          $55000                $80000

Total Sales              $495000              $570000              $650000

Approval Signatures: From all the stakeholders (Owner, Project Manager, Sponsors-Bank Officials, Consultant, etc)