Savannah State University Stakeholder Management Plan Paper You will need to establish a plan on how you will manage your stakeholders of my project charte

Savannah State University Stakeholder Management Plan Paper You will need to establish a plan on how you will manage your stakeholders of my project charter.Below, i have attached all documents that you will need to create the stakeholder plan. STATEMENT OF WORK
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STATEMENT OF WORK
PROJECT TITLE
Improving the Inventory Management System
COMPANY NAME
Walmart
CLIENT
PROJECT MANAGER
Gabrielle Banks
DATE
SUBMITTED
January 30,2020
PROJECT BEGIN
DATE
February 1, 2020
END DATE
December 21,2021
STATEMENT OF WORK
2
Table of Contents
INTRODUCTION ………………………………………………………………………………………………………….. 3
Background ………………………………………………………………………………………………………………… 3
Scope of Work ……………………………………………………………………………………………………………. 3
Objectives ………………………………………………………………………………………………………………….. 3
TASKS / ACTIVITIES AND SCHEDULE ……………………………………………………………………….. 4
BUDGET ………………………………………………………………………………………………………………………. 4
PROJECT REQUIREMENTS ………………………………………………………………………………………….. 5
Agency Responsibilities……………………………………………………………………………………………….. 5
Client Responsibilities …………………………………………………………………………………………………. 5
Mutual Responsibilities ……………………………………………………………………………………………….. 5
STANDARDS AND COMPLIANCE ……………………………………………………………………………….. 5
Standard Compliance …………………………………………………………………………………………………… 6
Regulatory Compliance ……………………………………………………………………………………………….. 6
Privacy Adherence ………………………………………………………………………………………………………. 6
BUSINESS TERMS AND CONDITIONS ………………………………………………………………………… 6
Contract Modifications ………………………………………………………………………………………………… 6
Confidentiality ……………………………………………………………………………………………………………. 6
Termination ………………………………………………………………………………………………………………… 6
AUTHORIZATION ………………………………………………………………………………………………………… 7
STATEMENT OF WORK
3
INTRODUCTION
Walmart is an e-commerce based organization. Being a multinational retail business,
effective and efficient inventory management is of critical importance in operational effectiveness.
Therefore, Walmart is anticipating on improving its inventory management through the utilization
of The SMART system that keeps track of all of its inventory and automatically detect and record
products that are low on stock or sold-out.
Background
Walmart’s Inventory Management system has experienced delays in real-time stock
updates and payment as well. This is because the organization’s inventory system serves a large
number of customers simultaneously. Customer satisfaction has reduced. As a result, revenue has
decreased. Therefore, implementing strategies that improve on these issues is critical.
Scope of Work
Project work includes the implementation of techniques that aim at improving the
effectiveness and efficiency of Walmart’s Inventory Management system. Also, this project
comprises of activities, schedule, payment terms, project requirements, standards, and compliance
to achieve the project deliverables on time and the stated budget.
Objectives
OBJECTIVE
RATIONALE
Walmart’s Inventory Management system has a lag
Improve Walmart’s Inventory
time that periodically leads to customer issues. The
Management System in terms of time
system needs to be improved to reduce this lag time
stock and payment updates
and improve the connection between the cash register
and online inventory
There is a decrement is customer satisfaction, thus
Increase in Revenue
thereby leading to a decrease in profit as customers
look for alternative companies to avoid similar issues
encountered.
STATEMENT OF WORK
4
TASKS / ACTIVITIES AND SCHEDULE
To achieve the objectives of the project, several tasks shall be completed in on the stated
timeline. They are outlined as follows
TASK
DUE DATE
1
Project Summary
2
Information Gathering
3
Project Stakeholders
4
Project Purpose
5
Estimated
Time
Three days
DELIVERABLE DESCRIPTION
This task involves briefing on components
of the project
Four days
Collection
of
necessary
information
concerning the issue to be solved.
Two days
Personnel
that
support
project
implementation are identified.
Five days
A clear purpose of the project is outlined.
One day
the most important requirements for all
Project Overview
activities are selected to interpret them
and take an efficient decision
6
Project deliverables
7
Project Budget and costs
8
Project Organization
Two days
Definition of the product or service
produced.
Four days
Financials requirements for the successful
implementation of the project.
Three days
Structure that expedites the harmonization
and implementation of project activities.
BUDGET
Financial resources play a vital role in implementing this project. They will be used in
performing the outlined tasks and activities. The total estimated costs for the entire project is
outlined as follows:
STATEMENT OF WORK
5
Purpose
Estimated Costs
Budget Source
IT Evaluation
$1,000,000
Payroll
$10,000,000
Revenue
Technological
Improvements
Total Revenue
$11, 000,000
PROJECT REQUIREMENTS
To ensure the successful completion of this project, all the above tasks and processes must
be completed within the estimated timeline and estimated budget. While undertaking the outlined
tasks, there are key responsibilities that shall be upheld by both parties; the contractor and the
client.
Agency Responsibilities
The contractor shall provide accurate information concerning the project deliverable. The
contractor has the responsibility to update the client of the progress of the project periodically. The
Agency is liable for the success or failure of the project.
Client Responsibilities
The client will provide all the necessary support that is aimed at achieving the project
deliverables.
Mutual Responsibilities
Both parties ought to collaborate while carrying out project tasks. This will be
accomplished when both parties play their roles in ensuring the successful completion of the task.
STANDARDS AND COMPLIANCE
Standards will enhance identification, development, evaluation, dissemination, and
provision for applicable morals, codes, guidelines, and regulations that have an impact on process
safety.
STATEMENT OF WORK
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Standard Compliance
Compliance with the established standards facilitate consistency in implementing process
and practices as well as minimizing legal liability. Changes in standards may occur at irregular
intervals or on a fixed schedule.
Regulatory Compliance
While carrying out the project tasks and processes, legal practices shall be maintained by
the contractor. Besides, the client, Walmart, will provide the contractor with legal guidelines that
ought to have adhered.
Privacy Adherence
The contractor shall uphold the privacy of the company. Moreover, the contractor shall not
disclose any form of information about the company.
BUSINESS TERMS AND CONDITIONS
Contract Modifications
Modification will be permitted where it is expressly provided for in review clauses set out
in the initial Implementation of the Walmart’s Inventory Management System. Review clauses
will only provide a specific degree of flexibility of the contract. Therefore, contract modification
will not be allowed simply because they were earlier in the Inventory Management System
document.
Confidentiality
The involved parties shall not disclose any form of confidential information unless required
by law to a third party without a documented consent of the other party. Both parties are required
to keep the agreed terms and conditions private to each other.
Termination
If the performance of the contract has exceeded the estimated timeline, and the contract is
separable, the client can terminate the contract and offer reasonable compensation. If either party
fails to meet its obligations towards achieving the goals of the project, the affected party shall
request a contract termination.
STATEMENT OF WORK
7
AUTHORIZATION
AUTHORIZATION
SIGNATURE
CLIENT
PRINTED NAME
DATE
SIGNATURE
PROVIDER/CONTRACTOR
PRINTED NAME
DATE
Risk Assessment Matrix
SCALE OF LIKELIHOOD
SCALE OF SEVERITY
ACCEPTABLE
TOLERABLE
GENERALLY UNACCEPTABLE
NOT LIKELY
LOW
MEDIUM
MEDIUM
POSSIBLE
LOW
MEDIUM
HIGH
PROBABLE
MEDIUM
HIGH
HIGH
Risk Assessment List
RISK
AREAS AFFECTED
The complete accuracy of this project will be difficult
to monitor.
This will affect the project as a whole.
The contractor does not provide accurate
information concerning the projects deliverables
This would affect the Projects Deliverables
IT department might not be able to determine where
the improvements must be made.
This can affect the project as a whole
QProject will cost more than the proposed budget.
This will affect the projects proposed budget.
Managemt Team will not work together effectively to
ge the job done.
The Management Teams
SEVERITY
LIKELIHOOD
RISK IMPACT
RECOMMENDED ACTION(S)
Tolerable
Not likely
Medium
Supervisors, team members, and managers must
continue to monitor the progress of this project.
Generally
unacceptable
Possible
High
Gather pertinent information from key stakeholders
before charging ahead.
Generally
unacceptable
Probable
High
Ask questions, investigate, and ask real answers from
Walmart employees.
Acceptable
Possible
Low
Continuously Forecast and meet with buget team on
spending and where your project is heading.
Acceptable
Possible
Low
communicate,provide valuable feedback, and make
sure everone is focused on the goal.
SEVERITY
Acceptable
Tolerable
Generally unacceptable
LIKELIHOOD
Not likely
Possible
Probable
IMPACT
Low
Medium
High
Project Charter
Date: January 30, 2020
PROJECT CHARTER
Improving the Inventory Management System
Date: January 30,2020
Version: #2
1
Project Charter
Date: January 30, 2020
Project Charter Document History
Document Revisions
Author
Release
Reason for Changes
Version #
Approval
Date
Gabrielle Banks
initial draft
Version #2
NOTES:
 Signed approval forms are filed in the Management section of the project files.
 Drafts should be version numbered “Draft 0.1”, “Draft 0.2”, etc. Accepted Releases should be version
numbered “1.X”, “2.X”, etc.
 This document requires the following approvals:


Version # Release
Date
Draft 0.1*
Draft 0.2*
Summary of Changes (since previous version)
Distribution History
This document has been distributed to:
Name
Title
Company
Distribution Distributed
Date
Version #
NOTES:
 This document is only valid on the day it was printed.
 The document source is located at , on the project server.
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Project Charter
Date: January 30, 2020
Table of Contents
1. EXECUTIVE SUMMARY
4
2. GENERAL PROJECT INFORMATION
4
3. PROJECT STAKEHOLDERS
4
4. PROJECT PURPOSE
4
5. PROJECT OVERVIEW
6
6. PROJECT REQUIREMENTS & DELIVERABLES
6
7. PROJECT MANAGEMENT MILESTONES & DELIVERABLES
7
8. PROJECT BUDGET & COSTS
7
9. PERSONNEL & OTHER RESOURCES
7
10. PROJECT RISKS
7
11. PROJECT ORGANIZATION
8
12. APPROVAL SIGNATURES
8
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Project Charter
Date: January 30, 2020
1. Executive Summary
Walmart Inc.’s inventory management is one of the biggest contributors to the success of the multinational retail
business. Considering the mammoth size of the company, effective and efficient inventory management is of critical
importance in operational effectiveness. Walmart is known for cutting-edge technological applications for its
inventory management aspect of operations. Walmart utilizes The SMART system that keeps track of all of Walmart’s
Inventory, the on-hand counts, and can automatically detect and record products that is low on stock or sold-out.
Although the utilization of the system has made Walmart the biggest company in the world, there are some are
changes that should be implemented within the system to keep Walmart on the map as the multinational retail
business. Between customers purchasing items, the cash register, and the SMART system showing product
availability, the systems are not linking together. This issue can cause Walmart to lose thousands of dollars in
inventory or it may cause shrink in the system if products are not accounted for correctly on a daily base. To make
sure that these problems don’t arise, I would propose that Walmart thoroughly investigate the Smart system and
determine what is causing the systems to be unequally linked. I believe this project will address all the problems that
have been addressed and will also prevent future issues within the systems.
2. General Project Information
0605.1.2020
Project Title: Inventory Management
Sponsoring Walmart
Organization: Supply Chain and Logistics
Project ID:
Sponsor
Representativ
e:
Prepared by: Gabrielle Banks
Version:
3. Project Stakeholders
Position
Sponsor Rep
Title/Name/Organization
Dan Brown, Walmart Inc.
Supply Chain & Logistics
Terrell Cobbs, Walmart Inc.
Phone
912-484-3644
Email
danb@walmart.me.com
912-576-9825
tercobb@walmart.me.com
Gabrielle Banks, Walmart
Inc.
Ronald Harvard, Walmart
Inc,
912-398-0837
Gbanks2@walmart.me.com
912-235-8976
ronharv@walmart.me.com
Assistant Project Manager
Daniel Holmes, Walmart
Inc.
912-445-0985
danh@walmart.me.com
Project Specialist
Diana Russell, Walmart Inc.
912-353-0553
dianrus@walmart.me.com
Program Manager
Project Manager
Customer/User Rep
4. Project Purpose
The purpose of this project is to find a way to improve Walmart’s Inventory Management system. Although Walmart
uses a software system that allows employees to check the availability of products in the system, improvements
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Project Charter
Date: January 30, 2020
must be made to ensure there is complete accuracy. The improvements will also update the time it takes for the
inventory to be updated across all platforms.
4.1. Business Issue
Walmart’s Inventory Management system has a lag time that periodically leads to customer issues. The system needs
to be improved to reduce this lag time and improve the connection between the cash register and online inventory.
The minute an item sells it should be removed from the inventory. Informing a customer that an item is in stock that
is eventually determined to be unavailable is a frustrating situation. Improving the customer experience leads to
increases in revenue.
4.2. Business Objectives
Strategic Plan Element
Lag Time
Accuracy
Project Business Objectives
Reduce the lag time in inventory management between cash register/
online cart and inventory
Improve the accuracy in inventory records, reduce number of inaccurate
in stock items
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Project Charter
Date: January 30, 2020
5. Project Overview
5.1. Project Description
The focus of this project is on Walmart’s Inventory Management System, with a key focus on improving the customer
experience. The first element is reducing the lag time between an item being sold and this item being removed from
inventory. The second element is in improving the accuracy of in stock items. If an item is listed as in stock the
customer should be able to walk into said store and find that item. The amount of inaccurate in stock items will be
reduced.
5.2. Scope
The scope of this project is the Walmart Corporation as a whole; improvements in inventory management make the
process easier for all involved. Starting with the most important level, the consumer and benefiting all up to the top
executives. There will be technological improvements to the inventory management system that strengthen the
connection between the cash register/ online cart to the inventory system. When an item is sold whether in person
or online it should instantly be removed from the inventory. This lag time posses’ issues with customers coming into
stores looking for in stock items but are unable to find them due to mistakes in the inventory management system. A
corporation as large as Walmart should have the highest quality system that provides the least amount of mistakes.
An issue within inventory that will be addressed is returns, when an item is returned to a store, it should be added
back into the inventory once it has been stocked on the shelf. There is a lag time between items being returned and
restocked and the items are not easy to find in customer service. This project will improve the in store and online
experience. Improving the consumer experience increases the likelihood of the consumer becoming a return
customer.
5.3. Assumptions
When chartering this project it is assumed that there are minimal issues in inventory management caused by
employees and most issues are caused by lack of technological improvements.
There are some assumptions though such as:
• All items are scanned into inventory when they arrive
• All damaged items are removed from inventory
• Any promotional items used in inventory are removed from the available items
• All items are stocked in the appropriate location
• All returned items are stocked in an appropriate time frame
• Customers were looking in the appropriate area or asked for help when stated an item was out of stock in stores
5.4. Constraints
The complete accuracy of this project will be difficult to monitor over all location. To initially test the project
improvements will be made at specific locations and the results will be tracked at these locations before being
implemented across the board. There are also financial constraints that limit the amount of money that can be spent
on these improvements that may not be cost effective in all locations. There may have to be a separation between
online and in store inventory.
6. Project Requirements & Deliverables
There will be multiple requirements for this project to be completed effectively and efficiently. The IT department
must do a technology assessment to determine where the improvements must be made. Determining whether this is
to the cash registers, inventory management system or handheld devices used throughout the corporation. There
will also need to be involvement with management at these chosen locations to ensure all is being done on the
employees end. Items must be placed in the appropriate location, and not in a random place. The customer must also
be willing to ask for help locating an item from an employee who performs an accurate search.
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Project Charter
Date: January 30, 2020
7. Project Management Milestones & Deliverables
Milestones/Deliverable
Estimated Date
August 1st, 2020
August 1st, 2021
December 1st, 2021
December 31st. 2021
IT Evaluation
Technology Improvements
Inventory Audit
Employee Training
Responsible Individual(s)
IT Department / Management
IT Department / Management
All employees
Management
8. Project Budget & Costs
Purpose
Amount
Budget Source
IT Evaluation
$1,000,000
Payroll
Technological Improvem…
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