School of Engineering and Information Technology

ASSESSMENT COVER SHEET

Student Name Muhammad Hammad

Student ID S303831

Assessment Title Prepare a Business Case

Unit Number and Title PRT551 Project Management Risk and Reliablity

Lecturer Tony Allan

Date Submitted 29/3/2019

Date Received
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Signed…Muhammad Hammad………………………..Date………29/3/2019……..

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 Table of Contents

ABSTRACT............................................................................................................................................ 1
OVERVIEW ........................................................................................................................................... 1
Business Objectives ............................................................................................................................ 1
Performance Measurement ................................................................................................................. 1
EXPECTED BENEFITS AND MARKET OPPORTUNITIES ............................................................. 2
Market analysis ................................................................................................................................... 2
SWOT Analysis .................................................................................................................................. 3
PROJECT REQUIREMENTS ................................................................................................................ 3
COST ESTIMATION ............................................................................................................................. 4
Cost of Initial Setup ............................................................................................................................ 4
MAJOR RISKS ....................................................................................................................................... 4
TIMESCALE .......................................................................................................................................... 4
CONCLUSION ....................................................................................................................................... 5
REFERENCES ....................................................................................................................................... 6
ABSTRACT
Current project plan is for Interstate Freelancing Engineering Hub (IFEH). IFEH is a new
project that is undertaken by an engineering company in order to match local talent, expertise,
new upcoming graduate engineers and to provide them with world class opportunity in
working with clients, including established organizations and small businesses. IFEH is going
to be a unique platform for engineers who can contact, establish network, within the whole of
Australia in order to find jobs, assignments, projects and work with other engineers. It is a
sort of freelancing hub where the uniqueness is that it will benefit the community. The
established organization will provide initial fundamental resources while the project case is
for preparing the different aspects of the initiative, to portray to potential investors who are
able to fund the project. Charles Darwin University is funding projects and the current report
is to provide initial know how to the potential investors to make their decision in making the
funding for the initiative or not.

OVERVIEW
Business Objectives
Current world is based on online marketing, retails, engineering, even social work and other
projects being outsources to third world countries or other nations for cost reduction in which
local people are losing jobs and employment opportunities (Meredith& Mantel, 2006).
Engineering have not been freelanced in a hub in Australia yet where in other nations it has
already started.

Freelancing is a term that is given to the act or process of a marketplace that is virtual, where
there are skilled people looking for work or projects. Organizations, third party or liaising
groups are always seeking to get their work done in the fastest, cheapest and quality way for
which freelancers is a huge benefit.

Outsourcing on the other hand is a term that defines a nation or organization who do not have
the capacity or resources and, in some occasions, looks for better investment to get their
services done not by their own organizational workers or nationals but where it best suits the
expenses and organizational interest. For the same reason, work, projects and other initiatives
are outsourced, meaning that people or organizations that can do the work in specialised
manner, in faster and quality way are given the task (Kerzner, 2013).

Engineering can be in different departments such as civil, electric, mechanical, chemical, etc.
where there is no Australian freelancing hub for engineers. Thus, the current initiative for
IFEH will benefit engineers, who are recent graduates, or maybe looking or extra work, or
maybe they are part time engineers or even looking for come back from retirement. All these
sorts of opportunities are not available elsewhere for which it will benefit the community.

Performance Measurement
According to Maylor (1999), every initiative in a new venture requires measurement tools
such as ability to measure statistically what improvement, progress or profit that the venture
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have gained or if there is any stage, phase or certain areas that need more structure and
strategy. Similarly, IFEH will need to work on its measurement of performance and progress
through different strategies.

Given the project will carry significant value for the clients and providers, who are the
engineers that are able and willing to do work freelancing through the initiative hub, it will
need to provide guarantee and surety of the project. Thus, the project will use initially KPI,
Key Performance Indicator whichMarquis & Tilcsik (2013) addresses as measurement of
direct impact. This will let us know about the performance of the project, the difference
between the expected outcomes projected at start and how far the project has come in terms
of achievement. Additionally, the level of performance, increment percentage and what they
are additional aspects that the improvement from the beginning will be measured through the
KPI.

The project will require a management system which will include IT technicians. Initially it
will be developed based on an application that is mobile friendly and thus will be available
for the two most common and universal operating systems, the iOS and Android systems.
Thus, it will provide hands o experience for the users, including engineers who are seeking
work as well as offerings such as service providers and users. The application itself will be a
platform hub where username and anonymousness will be provided for safety measurement
and security protocol while the project organizers will have confidentiality clause for
measuring what sort of security will be there for the safety of the users and providers.

EXPECTED BENEFITS AND MARKET OPPORTUNITIES

Market analysis
The market analysis is a part of the environmental analysis which Cleland(2006) stressed that
is essential for measuring and analysing the current market before any new investment is
done. Such as for example a market where there is extensive competition but more
opportunity due to the innovation of the product or service is a profitable and successful
market to enter. In the same manner, the current engineering and freelancing market is still in
development stage in Australia while both platforms combined is still a new thing in the
industry.

There are a few markets in the assessment that needs to be considered here which includes
the IT sector and its globalisation, how far the IT services can provide and develop as well as
support the new venture. Secondly, the market in Australia for engineering is developing
because of new infrastructures, mechanics and needs and demand growing every day. Thus,
in prospective of engineering projects and growth, Australian engineering industry is a
profitable and viable market.

Freelancing is a better way to provide job and project work to engineers than outsourcing it to
other nations for low cost. There are people who have experience in engineering, work
experience, skills, theoretical skills and ability to provide Australian standard and quality
work for which this will be a unique platform for the project.

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Overall, the market analysis shows that the concept of the project is unique and thus is
profitable in a growing engineering industry in Australia.

SWOT Analysis
SWOT analysis is an analytical concept that allows organizations and individuals to prepare
an internal and external analysis that will provide an overview of the strengths, weaknesses,
opportunities and threats that exists in a given market. This will provide the project to have a
clear and concise idea of what are the opportunities in the current market, that the project can
take advantage of.

Strengths will provide an inside knowledge of the core strength of the project which is the
uniqueness, market responsiveness and the vast client base that can be used as the most
lucrative part of the project.

Weaknesses that the project have will be outlined here to take precautions and measure to
cope with it. The current project’s weakness is that it is yet not approved as the funding is yet
to be sourced. Though there are potential funding available, the fund providers need to see
and provided with project details and measurements to be able to confirm their investment in
it.

The opportunity part of the analysis gives an overview of the market insights, what are the
chances for the project to succeed, what are the initial views on the opportunities that the
project can capitalize upon. The IFEH project will have the opportunity to liaise, link and
built a network that is so strong that it connects users, with skills and experiences who are of
engineering qualified background and proven their worth through projects to find suitable
tasks and jobs.

Threats for the project are that people who come up with new ideas are often copied and
given this is a new and unique venture, soon after its launch it can be copied and other similar
ventures can show up, providing competition for the project.

PROJECT REQUIREMENTS
The project will require primarily funding which is about 25000 AUD. The fund will
establish a strong ground and the project will be based on the availability of the fund and how
soon it is gained in hand.

Resources will be provided some by the parent engineering organization and some that will
be purchased from the available fund.

The employment will need contract-based IT head, which will be responsible to provide and
develop the application in a timely manner, that will link a freelancing application on the
internet, to connect people and organizations who are seeking qualified and experienced
engineers with employers.

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The project will also need some marketing for which an ongoing marketing expert will be
employed. As every new venture need awareness to reach out to audiences, the marketing
expert will advise and act on this objective.

COST ESTIMATION
Department of Industry (2018) stated that the cost of a new project or venture depends on the
type of project, the cost involved, will cover the starting cost of IT development,
engineering’s associations’ permission, referrals made, computer and software’s, etc. The
breakdown of the costs is provided below.

Cost of Initial Setup

• Capital – $20,000
• Equipments – $2,500
• IT related costs– $500 per month
• Marketing and management costs – $1,000
• Security– $500
• Total cost – $ AUD 24,500
The cost provided below is projected cost, which is estimation only. The parent organization
will cover extended cost, if necessary, after the funding is gained from CDU.

MAJOR RISKS
Every project has its pros and cons as well as risks associated. The major risks that can be
derived from the SWOT analysis is that this is a new project, which, even if is unique, needs
careful implementation and contingency approach.

The mitigation skills and strategies will be developed with the security, success and safety of
the clients and service providers in hand, which includes cyber security, engineering safety
protocols, KPI measurement and constant monitoring. Also, risks associated with threat of
new entrants in the market will not be viable unless 2 years as it takes time for audiences to
understand the business, to create a same or similar one and then to implement it. The aim to
mitigate the major risks is to create marketing and engineering awareness to the community,
how local sources skilled workers can be used to benefit the community and the nation and
thus this will be the strength that will help to face the risks.

TIMESCALE
Project timescale is the projected time that is provided to the workers, management and
stakeholders and which provides and acts as aim to achieve. The timescale is projected which
can change due to environmental factors as well as internal reasons any time. Constant
revising, reflective action and strategy reformulation are some ways to keep the project on its
specific time length.,

The project timescale is as follows, which is broken down into several milestones –

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M1. Market analysis and research- 3 months

M2. Fund approval, project approval, permit and licensing – 3 months

M3. Recruitment, interviews, goods and materials purchase and setup – 4 months

M4. Safety net, contingency planning, strategy development, monitoring, leadership – 2

months

M5. Name registration, ABN and bank accounts, OHSC planning – 2 months

Overall timescale before starting the initiative in the market – 14 months

CONCLUSION
To conclude, the project is developed for the wellbeing and prosperity of engineers in
Australia, who have achieved excellence in their work, through education and theoretical
knowledge, have idea and fundamental accuracy to the relevant work. The project of the
application will create a hub, where freelancing is possible, and engineers can find work and
provide real time feedback to their clients when requested. The organization will work as a
liaising parent organization to provide real time solution to engineering issues and problems
of individuals and corporations. This will solve employment issues, lessen dependency on
outsourced organizations and individuals and thus create opportunity for the Australian
engineers and to create a stronger workforce.

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REFERENCES

[1] Cleland, D.I., 2006. Global project management handbook 2nd ed., New York: McGraw-
Hill.
[2] Department of Industry, Innovation and Science. 2018, Start up costing of your business,
Australian Government, as of 14 August 2018, from:
https://www.business.gov.au/planning/business-plans/writing-a-business-plan/start-up-
costing-of-your-business
[3] Kerzner, H., Ebooks Corporation & eBook Library, 2013. Project management case
studies 4th ed., Hoboken, N.J.: Wiley.
[4] Marquis, C, Tilcsik, A. 2013. Imprinting: Toward A Multilevel Theory. Academy of
Management Annals7(1) doi.org/10.1080/19416520.2013.766076
[5] Maylor, H. 1999. Project management (2nd ed.). London: Financial Times Management.
[6] Meredith, J. R. & Mantel, S. J. Jr, 2006 Project Management A Managerial Approach, 6th
Edition, John Wiley and Sons, 2006