Project Initiation Document

Project Name: organizing a 3-day 'business start-up workshop' for Kingston university CISM MSc students

Team Members:Victoria RichterIrina DonevaBello OmolaraAbdul Hameed

Project Introduction

According to BBC.com “One in five UK university leavers who entered the labour market failed to find a job last year, as graduate unemployment reached its highest level since 1995, government figures show”. "Office for National Statistics" has publish report illustrating that graduate unemployment had risen faster - from 10.6% to 20% - than unemployment for the UK as a whole (5.2% to a high of 7.9%)[1]. According to this statistics, the graduate unemployment ratio increased as twice as the number of students who graduated in 2009. This was the highest unemployment rate for new graduates in more than 10 years with approximately 1 in 5 current graduates, who are economically active, looking and available for job but incapable to find any. The figures clearly define that graduates are entering the harsh and very competitive market after their graduation. According to Open University report in the UK only self-employment for graduates is reaching 15% of the employment market. This is a clear indicator of graduate interest in this area[2]. Starting up a new business is not an easy option. However, as the figures indicate an increasing number of graduates consider setting up businesses for themselves after graduation – and some of them start their businesses while studying.

Aims and Objectives of Project

Project Aim •To equip Kingston university CISM Msc students 2010/2011 to set up their own small scale businesses• To provide networking opportunities with entrepreneurs and bank officials •To foster the economy by creating more small businesses which lead to more jobs•To improve the reputation of Kingston university

Project Objective•The objective of the workshop is to train 35 participants who are Kingston University CISM faculty MSc student between 2010-2011 to start their own small businesses.•To increase CISM employability by setting up their own business •One year after the workshop, at least 15% of the workshop attendees will set up their own business.

Project deliverable and assumptions

Project Deliverables• Advertisement •participant selectionVenue providing company contracted•company which provides legal + business training contracted•Delivery of lectures by experienced business entrepreneurs (if possible Kingston Alumni)•Advice from bankers regarding how graduate loans can be obtained•Legal advice/overview of bureaucratic steps considering UK laws•Workshop Agenda•Hospitality•Workshop held•Post workshop review

Project Assumptions •The workshop will be delivered by seven speakers, five of who will be leading business women/men, and two will belong to Kingston Entrepreneurship Society or alumni.•the two companies BusinessLink for the training and VenuePrep for the venue preparation chosen •The venue will be reserved in advance •The venue would be equipped with facilities such as laptops, projector and microphones •All participants will have access to Wireless Area Network on the workshop venue•it is assumed that all selected participants and lecturers will attend the

Project cost

Costs Details   Lump sum requested budget  

Cost of trainers £6,000Venue Cost( including catering, IT support, hospitality)

£4,000

Website development cost £1,000Website hosting cost per year £300Printing cost for the workshop agenda and venue map

£200

Contingency £1,500Future funding £2,000Cost of "The prize for best business plan"

£1,000

Total cost £16,000

The cost of the project include trainer cost, Venue cost, website development and maintenance cost, print cost , prize and contingency plan

Project Cost/Benefit Analysis

Project Cost Development Costs: •Website development cost

Setup Costs:•Booking cost of the venue

Operational Costs:•Website hosting cost per year•Venue cost ( including catering, IT support, hospitality)•Cost for printing the map of the venue •Cost for printing the workshop agenda •Cost for trainers •Contingency cost•Future funding •Cost of the prize for best business plan

Project Benefits Direct Benefits •Increase the number of business setup by Kingston University CISM MSc students by 15%

Indirect Benefits•Decrease the Kingston University CISM MSc graduates unemployment by ....% (to be confirmed) from 2011/2012

Intangible Benefits: •Improve the job opportunities of the CISM MSc students 2010/2011•Improve the overall knowledge and skills of students how to start and develop their own successful business•Better awareness of the Kingston University

Product Breakdown StructureTop-level Product Breakdown Structure:

Website– Website Design– Website Content– Site Implementation– Site Upload

contracts signed– contract signed with BusinessLink– contracts singed with VenuePrep

student applicant list– details of 30 accepted students– details of others for possible substitution (prioritised)

advertisement– announcement on University Facebook page– announcement on Blackboard– advertisement on entrepreneurship society website

venue – refreshment/ lunch set-up– allocation of technical equipment– chair and table arrangement

stationery– Venue map– Workshop agenda– Workshop hand-outs– workshop tools (pen, pencil, marker, posters, notepads)

workshop held post workshop evaluation

– questionnaire– participant's database

Product Flow Diagram

Project Risks and Contingency

Risk to project include•lecturer or participant may not attend the workshop •Workshop venue may be reserved by someone else•IT equipment's may crash during workshop•Excessive student enrolmentContingency plan•The Contingency plan is developed to reduce the effects of the above risks.•Contingency plan include how to handle if large amount of students not attend the workshop or if the speaker do not attend the workshop. Also if venue is not available on workshop day.

Project organisation structure(Continued)

Project BoardThe project board for this project will consist of Executive (Mark or Stuart), senior supplier representing BusinessLink company and VenuePrep company. Also one person will be selected to represent the senior supplier who will represent user benefits in the project. Project board as team is accountable for the success of the project and they report to corporate or programme management.Project ExecutiveAs per instruction given in the assignment Dr. Goodland and Mr Stuart will have the authority to accept or reject the business case. Project Executive will be supported by Senior User and Senior Supplier. The Project Executive’s role is to ensure that the project delivers the benefits in accordance with its Business Case – taking a balanced cost-conscious view of user demands, supplier contribution and business requirements.The project Executive will oversee the business case and approve or disprove the project justification. Executive will set stage tolerance and approve the payment to supplier; also they will oversee the development of the business case and eventually responsible for the formal closure of the project.Senior User One person will be appointed by Kingston University CISM graduates to represent the senior user in the project board. The senior user will liaise with the project manager to ensure that the solutions meet those needs in term of quality, functionality and ease of use.

Project organisation structureSenior SuppliersBecause most of the project work will be outsourced to other companies therefore supplier will play an important role in the successful delivery of the project. To deliver the training we have made a contract with BusinessLink, a company which has long experience in delivering business start-up workshops. In addition, a contract has been made with VenuePrep Company to provide venue for the workshop and proving catering, hospitality, and drinks/meal to workshop participants. The supplier will constantly communicate with project manager and project board to make sure everything is delivered on time.

Project Manager The project manager will be responsible for day to day operation of the workshop on behalf of the project board. Also project manager in this project will play two others important roles team manager and change manager. Project manager will make sure that team members are motivate enough to carry out their dutie.

Project AssuranceLooking to the simplicity and the duration of the project, every individual of the project board would be responsible for their area. As a team board will make sure the project is delivered according the business case. Any change if occur after the commencement of the project board should maintain the business case and make necessary change to the project. The project board will monitor the progress of the project in high level to ensure the project is on track.