Kudler Fine Foods: The Strategic Plan of Risks

Introduction

The strategic plan is a vital one in the organization where they serve an outline for the decisions in the organization, support in the benchmarking and the boosting factor for the arising plan. Kudler Fine Foods is a retail chain which mainly deals with food products in the dairy and bakery division. The company has implemented the 2003 strategic plan but needs a review of this plan for the better development of the company. Therefore the company’s marketing plan needs further analysis. It was decided to incorporate a new marketing strategy aiming to increase the market share of the company. “Implementation schedules are prepared using a task assignment list or an implementation WBS, an implementation Gantt chart, with interim milestone affixed” (Westcott, 2004, p.16).

The Work Break structure (WBS) could be seen as below:

Total Project Summary: Estimated 100 days with a Budget of $ 3000.

  • Preparation of objectives of the marketing plan: 15 days – outlay of $ 200.
  • Resource Allocation for the new plan : 10 days – outlay of $ 300
  • Designing the marketing plan: 15 days – outlay of $ 500.

End Program milestone 1:

  • Researching the marketing plan: 20 days – outlay of $ 500.
  • Identification of defects in the new plan – 15 days – outlay of $ 500

End Program milestone 2:

  • Actual implementation – 20 days- outlay of $ 1000.

End Design Milestone:

Gantt chart helps us to understand the time taken to complete each phase. The starting date is May 20, 2010 and the deadline is September 5, 2010.

Gantt chart:

Tasks Description Starting date Ending date
Task A Formation of team and top management approval May 20, 2010 May 21, 2010
Task B Selection of the appropriate objectives May 21,2010 June 5, 2010
Task C Resource allocation for project implementation June 1, 2010 June 10,2010
Task D Designing phase June 20, 2010 July 05, 2010
Task E Research phase July 06, 2010 July 26, 2010
Task F Identification of defects in strategic plan July 27, 2010 Aug 12,2010
Task G Business analysis Aug13, 2010 Aug 14,2010
Task H Implementation of the plan Aug 15,2010 Sept 5,2010

The success key factors

The key factors for success are an extensive planning system – where a proper planning manual relating to the all tasks are to be specified, the time analysis and the systematic analysis of the strategic planning which needs to be analyzed. The quality factors are to be given utmost importance and the efficiency and effectiveness in the operations are to be continuously monitored.

Cash Budget

The budgeting process plays an efficient role in any organization’s functioning. The budget is the indicator of the financial transactions of the expenditures in an effective manner. The factors that are identified in the cash budget are the cash flow, sales flow, wages and salary, rent and depreciations. The main idea during the designs is the increase in sales, increased profitability and the collection targets. The assumption taken for the sales are the increase in 15% to 85% of the sales on a monthly basis.

Forecast Financials

The financial forecast is to estimate the financial performance of the company in the coming years. The analysis can be done with the help of the balance sheet which gives the actual performance of the company in the past years, the various kinds of financial forecast measures of the Kudler fine products are:

Expense Amount
Project Team Salaries $50,000
Training $4,000
Support $10,000
Implementation $5,000
Total Cost $69,000
Benefit/Cost Saving Amount
Increased Customer Loyalty $75,000
Efficiency in Inventory Controls (Reporting) $5,000
Total Benefits and Savings $80,000

The Risk management plan

The risk is an uncertain factor in any event, the risk management plan is a necessity in the organization and it is the responsibility of the project manager to identify the risk and make the contingencies according to that. The main risks identified are in terms of the quality of the products, forming of the systems and the lack of good management team.

The contingency plans are to be made accordingly so as to; alleviate the risks associated with the firm, to have an alternative system to implement the strategic plan, and to develop the appraisal and efficient proper planning system. The various benefits of using the risk management is that the firm can have a proper monitoring of operations performed in the system.

Conclusion

It’s appropriate to conclude that the Kudler Fine food’s marketing plan needs further analysis and implementation of new marketing strategic plans.

References

Westcott. (2004). Simplified project management for the quality professional: Managing small and medium-sized project. American Society for Quality, p.16. Web.

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NerdyRoo. (2021, December 25). Kudler Fine Foods: The Strategic Plan of Risks. Retrieved from https://nerdyroo.com/kudler-fine-foods-the-strategic-plan-of-risks/

Work Cited

"Kudler Fine Foods: The Strategic Plan of Risks." NerdyRoo, 25 Dec. 2021, nerdyroo.com/kudler-fine-foods-the-strategic-plan-of-risks/.

1. NerdyRoo. "Kudler Fine Foods: The Strategic Plan of Risks." December 25, 2021. https://nerdyroo.com/kudler-fine-foods-the-strategic-plan-of-risks/.


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NerdyRoo. "Kudler Fine Foods: The Strategic Plan of Risks." December 25, 2021. https://nerdyroo.com/kudler-fine-foods-the-strategic-plan-of-risks/.

References

NerdyRoo. 2021. "Kudler Fine Foods: The Strategic Plan of Risks." December 25, 2021. https://nerdyroo.com/kudler-fine-foods-the-strategic-plan-of-risks/.

References

NerdyRoo. (2021) 'Kudler Fine Foods: The Strategic Plan of Risks'. 25 December.

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