Running head: WORKRITE LOCK-IN PROJECT 1

Workrite Lock-in Project

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Question 1

The major stakeholders impacted by the lock-in project include: Workrite owners,

customers, staff of sales, electronic component suppliers, front office admin staff, operations

director, and the project manager. The project’s stakeholders are analyzed against their power

and interest. The plotted graph is used to make decisions on the grid that a certain stakeholder is

categorized into. The stakeholder matrix is as illustrated below

Power

High

Low

Low High Interest

One of the company’s stakeholder’s is the staff of sales. The role of the sales staff is to

negotiate with the potential clients concerning the price of affordable electronic products. To

maximize the staff of sales chance to actively participate in the project, Workrite will offer

motivational awards or tokens to the suppliers when certain sales goals are reached. In addition,

the sales of staff salaries will be increased by a significant amount.

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Customers are additional stakeholders in the Lock-in project, and they play the role of

purchasing the supplied electronic product from the Workrite components. The Lock-in project

involves promoting sales of the Workrite components, and customers play a great role in

influencing the sales rate. To maximize the customers’ chance to actively participate in the

project, Workrite can fix its bad reputation of late product delivery and ensure that customers

receive their electronic goods ordered on time. Also, Workrite can attract more customers

through promotions such as adding gifts and free delivery to any electronic product purchased.

The electronic component suppliers (refurbishers) are also key stakeholders in the "Lock-

in" project. In the Lock-in project, the refurbishment companies sell their refurbished electronics

to only Workrite firms in the U.K. In return, the company is not purchasing electronic products

from other companies, especially those supplied by the Lock-in companies. To maximize the

refurbishers' chance of actively participating in the project, the company will adhere to not

purchasing products from other electronics suppliers. In addition, the company will promote

most of the suppliers’ products through advertisement and marketing strategies. Such product

promotion strategies will attract any customers to purchase the products supplied to Workrite,

increasing the supplier’s profitability in return.

Owners are the other stakeholders A good understanding of every stakeholder group can

be enhanced when the business owners adopt fanatical and fastidious dedication to knowing

them (Stakeholder matrix, 2014). Knowing stakeholders’ groups involves business owners

investing in improving greater relationships on a winning strategy that grants the best leverage to

both parties. The front office admin staff is the other stakeholder who fills details order details

from the staff of sales into the computer system of Lock-in components. To maximize the chance

of office admin staff actively participating in the project, the company can must always ensure
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that their computer systems are effectively working without delay faults. In addition, the

company must ensure that the staff of sales provide well described order details to the front

office admin staff to avoid confusion of order details when tracking order progress.

The last stakeholder in the Lock-in project is the operating manager whose name is Robin

Nightingale. Robin role is t come up with the Lock-in project is to help improve the company’s

trends of sales. Robin also plans on the strategy is going to use to ensure the company does not

lose the sales of staff. To maximize the chance of operating manger actively participating in the

project, the company can ensure that it provides sufficient funds that cater the projects activities,

for example funds that cater payment for all supplies made by the refurbishers. In addition, the

company must ensure that there are enough front office admin staff having the right calibre to

help accomplish the new project goals.

Question 2

Some of the risks associated with the Lock-in project include:

a. Technology risk

The aspect of technology in the project is a complex deliverable as the globe is currently

experiencing a high turnover of invented technologies that are new and advanced (Indeed

Editorial Team, 2021). For example, there might arise other refurbishment companies that might

offer more advanced electronic products in the market. Customers might shift their desire to

purchase Workrite products to those of advanced companies. Workrite components must

negotiate with their product suppliers to ensure the products delivered are advanced and updated

to the state of market technology.

b. Communication risk
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When in charge of a project, timely and effective communication is an essential ethic at

work practices, and the firm management must strictly observe it. Workrite has two business

analysts, the Operations Director and the Project Manager; it might be difficult for the two to

effectively deal with potential Lock-in suppliers adding up to 34. The two analysts can set

meetings to help keep track of changes in the project and promote a w cohesive team

environment.

c. Scope risk

Scope risk involves unauthorized or uncontrolled change occurring to the first objected

project scope. This may bring about additional features, functions, and products needed. The two

analysts can effectively manage the project scope and requirements to ensure scope every scope

decision is guided appropriately.

d. Cost risk

If there occurs a shortage of project mismanagement, for example, by purchasing

products from other electronic suppliers other than the intended ones, the budget object might

inflate. The two analysts must ensure that project costs are not higher or lower than the budgeted

funds as it might lead to scope risk.

e. Operational risk

Operational risk occurs when critical operations procurement and production are poorly

implemented. The two analysts might find it hard to tackle the procurement operations of the 34

potential lock-in suppliers. However, the analysts can technically arrange how to effectively

implement their critical procurement operations with one agreement.

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f. Skill resource risk

Skill resource risk involves the management leveraging on the internal staff as some of

the project activities can be staggered in varying waves at different locations, and the solution

can be an attendance of the in-house personnel. If the staff of sales in the Lock-in project fails to

understand how to negotiate the affordability of products supplied to the potential clients, the

Workrite company will face the skill resource risk. Therefore, the company must provide a

higher staff of sales that are competent in negotiating the products affordability to different

clients.

g. Market risk

Market risk involves the project failure of meeting the objected results. If the Workrite

company continues to deliver its products on time to customers, other electronic companies

might take advantage at a competitive rate. The Workrite company must adhere to their objected

product services of on-time delivery to ensure that competitive advantage does not cripple the

project objectives in the market industry.

Question 3

The Lock-in project is short by five months as it needs to be a five-month project than the

allocated ten months. To rectify the situation, the project manager and the company owners

must:

a. First discuss the extension of the project and its significance.

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The idea of rectifying the situation can be first shared with other stakeholders mainly, the

owners, staff of sales and the refurbishers. Rectifying the project period should happen

immediately upon agreement to ensure the ahead project goals are arranged and to signal other

project stakeholders how they will behave in the continued project. The new guidance in

continuation of the project should be familiarized to all project stakeholders, and a reasonable

plan should be provided to enhance effective adjustment to change.

b. Stakeholders should make agreements on modifying the project schedule and activities by

shortening lag time between tasks.

Incase the some of the Lock-in project tasks such as order placement to the refurbishers has

lag time between them, the project schedule of ten months can be modified by shortening the

task duration. The stakeholders involved can also fast track the project to compress the allocated

ten-month schedule by ensuring tasks run concurrently rather than in form of a sequence.

c. Fast tracking project tasks

Fast-tracking project tasks can facilitate effective modification of project schedule without

expenditure costs increasing. Fast-tracking projects can however involve some risks such as

management risks because new tasks are carried out when other predecessors have not yet been

accomplished. However, fast-tracking of project can be facilitated effectively without cost

increase upon good management.

d. The stakeholder can implement project crashing

Crashing the project is a technique of spending money to manage modification of short

duration. However, the project manager must ensure the project schedule is modified effectively

using the least amount of money. For example, the company can seek additional capital to hire
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more front office admin staff to ensure there occurs no delay when customers are in need of

price negotiation when in need of the company’s components.

Question 4

Robin estimates that upon the project completion of implementing the new Lock-in

system, there will be an increase in the annual sales of £120000 per annum. This can be

illustrated in the following cost-benefit analysis that includes producing figures for payback and

return on investment.

Cost benefit analysis

Particulars Total

Increase in Revenue £250000

Increase in additional revenue £120000

Total benefits (A+B) £370000

Costs

Employees’ salary £160000

Hiring cost £15000

Cost of additional hardware £25000

Total costs (D+E+F) £200000

Within one year timeframe, it is expected that Workrite will hire an additional staff of

sales in the expansion of supplies made from the refurbishers. It is estimated that the company’s
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revenue will increase by 50%; that is, the benefit from the revenue will be £250000. In addition,

due to the hiring of the new staff of sales, the value of the Workrite components will increase,

which will lead to an increase in the annual sales of £120000 per annum. The new employee’s

salary is objected to being £160000, and the additional hiring cost is objected to being £15000.

The cost of additional hardware required objects to be £25000.

Cost-benefit analysis

Total project benefit=revenue increase from the project.

Total project benefit= £250,000+£120000= £370000

Total cost of the project= employees' salary+ hiring cost + cost of additional hardware

Total cost of the project= £160000+ £15000+£25000

Total cost of the project= £200000

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References

Indeed Editorial Team. (2021, April 1). 10 Common Project Risks (Plus How To Analyze and

Solve Them). Retrieved from Indeed Career Guide website:

https://www.indeed.com/career-advice/career-development/project-risks

Stakeholder matrix - key matrices for stakeholder analysis. (2014, September 12). Stakeholder

matrix - key matrices for stakeholder analysis. Retrieved from Stakeholdermap.com

website: https://www.stakeholdermap.com/stakeholder-matrix.html