Week5-Apply: Contingency Plan And Executive Presentation
Company is Netflix
I need 12-14 slides with notes and updated project plan with potential risk factors and a contingency plan
- Project plans outline the intended course of events; however, things don’t always happen as intended. Organizations need to consider risks and develop a contingency plan. This plan is typically presented to management.
Add the following 2 columns to the project plan table you created in Wk 4 – Apply: Project Plan:
- Potential Risk Factors
- Contingency Plans
- Based on your prior research, determine potential risk factors for not meeting each of the project objectives. Develop a contingency plan for each of the potential risks. Add the potential risks and contingency plan to your Wk 4 – Apply: Project Plan.
Use Microsoft PowerPoint® , Prezi® , or another software to create a 12- to 14-slide executive presentation—with appropriate images and diagrams—that summarizes the following information:
- The organization’s information presented in Wk 1
- SWOT analysis and market trend research
- Project objectives
- How success will be measured
- The value this project will bring to the organization
- Project metrics
- Responsible parties
- Potential risk factors
- Contingency plans
- Remember the Cover slide, Question slide, and Reference slide are not part of the assignment slide count.
Include detailed speaker notes within the presentation. Convert the speaker notes to a Microsoft Word document and add it to the citations slide.
Note: Review the Strategic Management- 8 Most Popular Cases located in the Course Resources folder at the top of course.
Cite all sources according to APA guidelines. Be sure to include both in-text citations and a Reference page.
You will submit 2 different deliverables:
- Updated project plan with potential risk factors and a contingency plan
- Executive presentation with detailed speaker notes as a Word document within the presentation
- Submit your assignment.
- Center for Writing Excellence
- Reference and Citation Generator
- Grammar and Writing Guides
Explain why this opportunity/threat was selected, and how it is anticipated to benefit the organization.
The growth in business tells us that there are new opportunities which may also include new possible groups of customers, there would large product distribution, new types of products, services and geographic expansion can be developed. In SWOT analysis thinks that how to take advantage and they try to forecast about longer term opportunities so by this we can make planning in advance and be ready to get into the market when it is the right time to enter.
As we have selected opportunities this is beneficial for our organization because we by the innovation of original movies and series customers will be stick this app because they are getting new innovated things day by day we can take example of a series e.g. The most popular series of Netflix is “Money Heist” now a day’s every season was having more suspense that last one if a season and it says to be continued then viewers will wait for the next season and will be stick to this app and this will be beneficial for the organization.
Netflix is a paid app but when they give some cheaper offers than more people are attracted to it. The company also advertise itself and make new offers to others by his they may come to know new people this is will increase their communication with others and increase their profit. By this opportunities are important asset of an organization and can give profitable benefits.
Create at least 3 measurable project objectives based on your analysis.
1. The Netflix Company is focused on formulating a structure that will guarantee future company success and minimize deficiencies in the organization.
2. Netflix is committed to meet customer satisfaction through production and availing of most sought after content.
3. The organization still ensures the growth of the business, even with the challenges faced by the organization and try to give best quality.
Explain why these objectives are appropriate for this project?
This objectives tells us that if organization is facing any kind of difficulty they have backups and they are ready to face them. They ensure their customers to provide them with the best. They try to give best quality to their customers so that they can know that their customers are satisfied. Because this is one of the app which is running very smooth and speedy in this era they don’t have any controversies and giving their best to their customers and because of that their customers all loyal with them. The most amazing thing they are doing that they are provided no pirated series and movies. They have planned their future goals of the company which can be beneficial for them .Once the objective is set it will also help us to achieve the estimated goal of the amount the company have decided to earn.
Determine timelines and responsibilities for each objective (e.g. with a RACI chart)
|RoleActivity||Demand Generation||Lead Management||Recognize Needs||Evaluate Alternatives||Resolve Concerns||Customer satisfaction||Quality|
|Customer Service Rep||C||C|
|Lead Development Rep||C||A||I||I|
A = Accountable
R = Responsible
I = Informed
C = Consulted
Develop at least 2 metrics to evaluate achievement of each of the project objectives.
Productivity: In easy words productivity can be defined as productivity is the output which produced in the form of per unit of input. Productivity basically tells us that we are getting enough returns on our invested investments. As we know that in often cases resource are directly linked with people. It will helps us to compare the total effort we have done to the budgeted effort, which will directly impact the bottom line.
Schedule: If the tasks in organizations will performed by the schedule it will help to minimize the deficiencies in the organization. We can also go with schedule evaluation it will help us to find the roots of deficiencies and it should be held weekly.
Gross Margin: If we are doing a project its main focus for us is that how it can be profitable for us. This gross margin difference can be defined as the total cost which we have spent on the project and the total income which we have achieved. It should be measure throughout the project.
Customer satisfaction: If we are having loyal customers it can be beneficial for us in many ways. They will help or organization and app to spread all over the world we can say that in their family and friends which will also give our organization profit.
Quality: We can say that this is the most customer focused thing. By giving them good quality we can assure them of low defects and as well as the quality give at its end should be smooth and effective. If we will detect the threats early it will be easy for us to maintain excellent quality throughout.
Work scope: The project on which we are working show its scope on the bottom line. We should evaluate the things which matter and we should feel free to add some extra stuff and in this step if we give the best quality to you and by this customer will face any difficulty we have to cover that this will tell the customers that how many challenges we are facing but still we are trying to provide the best to you and they will be loyal to us.
Explain why these matrices are appropriate for these objective?
As we have seen that these metrics are appropriate because we have previously seen that there are many factors that lie in these objectives. The structure is vital in any organization. Thus, the Netflix Company is focused on formulating a structure that will guarantee future company success and minimize deficiencies in the organization. Therefore, in alignment with this structure, the company executives report to the Chief Executive officer and thus reduce the complexities in management levels in addressing issues to the top-level management.
Netflix used the large customer base as leverage to ensure securing studio executives. This comes along with costs used by the organization, for instance, the organization stated that it expected free cash flow of up to $2.5 billion as it continues to borrow money to venture into TV and movie commissioning. The content rights of originals continue to become more expensive as the subscribers in the organization also increase. To ensure that the consumers are interested, Netflix needs to create more movies to support their growth and productivity.
If they will give best quality to their customers the will be stick to them and it will help them to have more subscribers because those who are using this already they will definitely tell other to use this will be productive and profitable for their organization. The best thing they provide is that no one can copy their data like any person cannot screenshot or screen record the content.
Scheduled meetings and scheduled feedback will also help them to find out the bugs or they can save themselves from facing any difficulties. These metrics play very important role in these objectives because these objectives are defines by these metrics. It will also helps in the growth of NETFLIX and effect the performance of the organization.
References Morgan, R. (2008, Dec). HOW TO DO RACI CHARTING AND ANALYSIS: A PRACTICAL GUIDE. Retrieved from projectsmart.co.uk: https://www.projectsmart.co.uk/how-to-do-raci-charting-and-analysis.php#:~:text=A%20RACI%20chart%20is%20a,for%20that%20activity%20or%20decision. Westland, J. (2015, sep). 5 ways to measure project success. Retrieved from projectmanager: https://www.projectmanager.com/blog/5-ways-to-measure-project-success