BUS475 University of Phoenix WK4 Contingency Plan for The Potential Risks HW Assignment Content Project plans outline the intended course of events; howeve
BUS475 University of Phoenix WK4 Contingency Plan for The Potential Risks HW Assignment Content
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
Explain how success will be measured.
Explain the value this project will bring to the organization.
Project metrics
Timelines
Responsible parties
Potential risk factors
Contingency plans
Include detailed speaker notes within the presentation. Convert the speaker notes to a Microsoft Word document and add it to the citations slide.
Cite all sources following APA guidelines.
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 BUS/475 v10
Wk 1 Apply: Degree of Alignment
Advanced Organizer
Review the companies listed in the case studies portion of the textbook. Choose 1 of the companies to use for all weekly assessments. Complete the chart
below with information provided in the textbook and other resources. Provide your analysis below the chart.
Selected Organization:
Describe the organization in the follow chart:
Element
Description
Mission
In 2016 Elon Musk updated the Tesla mission to “to accelerate the advent of sustainable
energy”
Vision
Tesla’s vision statement is “to create the most compelling car company of the 21st century
by driving the world’s transition to electric vehicles.” (“Panmore Institute”, 2018).
Values
Tesla is accelerating the world’s transition to sustainable energy. We design, manufacture, sell,
install and service the world’s best solar technology, energy storage systems, and electric
vehicles, providing customers the opportunity to generate, store and consume energy entirely
sustainably. Tesla is committed to hiring and developing top talent from around the world for
any given discipline. Based in California, Tesla’s workforce spans across four continents. We
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Element
Description
work to build an inclusive environment in which all people, regardless of gender, race, religion,
or background, can come to do their best work. Our world-class teams operate with a nonconventional philosophy of inter-disciplinary collaboration. Each member of the team is
expected to challenge and to be challenged, to create, and to innovate. We’re tackling the
world’s most difficult and important problems—and we wouldn’t succeed without our shared
passion for making the world a better place (“Build The Future”, 2019).
Structure
Create a stunning solar roof with seamlessly integrated battery storage.
Expand the electric vehicle product line to address all major segments.
Develop a self-driving capability that is 10 times safer than manual via massive fleet learning.
Enable your car to make money for you when you aren’t using it.
Culture
Many Tesla supporters around the world, I would like to help send more effective messages to
folks believing in doing the right thing. TESLA is not about driving a car, it is about the lifestyle
you express (“Tesla Culture Official”, 2019).
Analysis
Tesla’s actions are very much in line with the company’s mission, vision and values. All four of the primary branches of the company reflect back to the
mission and vision. All branches have a base grounded in sustainable energy. The branches are also inter connected to support each other.
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Wk 1: Advanced Organizer
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Citations
Build the future(2019). Retrieved from https://www.comparably.com/companies/tesla-motors/mission
Panmore institute(2018). Retrieved from http://panmore.com/tesla-motors-inc-vision-statement-mission-statement-analysis
Tesla culture official(2019). Retrieved from https://teslaculture.com/tesla-culture/
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BUS/475v10
Wk 2 – Apply: SWOT Analysis
Name: Chris Terle
Selected Organization: Tesla
Strengths
Weaknesses
• It is highly innovative.
• Tesla has been operating at a loss.
• It has a strong brand and a high reputation
• It has a huge debt.
• Its vehicles are sold at a high price.
in the electric cars segment.
• It has a strong control of its production.
• Its supply chain is limited.
• It has been growing at a steady pace.
• It has a limited market presence.
• Its value has been increasing consistently.
• It is unable to meet market demands and
production schedules.
Opportunities
Threats
• Tesla can expand to untapped markets.
• Its investment plans are too ambitious.
• Electric cars are in high demand.
• There is a stiff competition from other
• Tesla could lower its vehicle prices
automobile manufacturers.
• Dealership regulations could affect the
through mass production.
• The company could continue to diversify.
• Tesla could soon begin making profits.
company.
• A changing trend in environmental
awareness could affect the demand of
electric cars.
Analysis
Tesla could use its strengths as a means to advance the opportunities that are available in
the market. In one of these efforts, Tesla can use its innovation to lower its vehicle prices in the
future. According to Rezvani, Jansson & Bodin (2015), new technologies promise cheaper and
higher quality products in the electric vehicle market. Besides, Tesla could also lower the
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BUS/475v10
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maintenance costs of its vehicles and raise the demand for these vehicles through continued
innovation. For instance, by developing batteries of a higher capacity and improved
aerodynamics in its vehicles, Tesla could increase the distance that its vehicles travel at a single
recharge, which could help the company to achieve a competitive edge over other market
players. On the same note, developing vehicles that are cheap to purchase and maintain could be
an important factor in Tesla’s success in expanding its presence in emerging markets.
Tesla’s high growth rate could help it in expanding its presence in new markets, lowering
its prices, generating profits, and raising the demand for its products. It is reported that the
company has been increasing its production capacity by approximately 134% every quarter,
which is way above the industry average (Marshall, 2019). In this case, continued increase in
production capacity will help Tesla to meet the demand of its vehicles in markets such as China,
the EU, and the US and retain a surplus that could be shipped to emerging markets. On the same
note, increased revenues could help the company to generate higher profits in the near future.
These profits could then be used to diversify operations by increasing investment in battery
production and energy generation and supply.
Tesla can convert its weaknesses into strengths. Despite continued growth, the company
has been generating losses worth hundreds of millions of dollars every quarter (Marshal, 2019).
These losses could be used as a basis to adopt a more aggressive business model that targets on
optimization of revenues and improved management of operating costs, which could then help
the company to transform from a loss-making to a highly productive venture. In fact, the high
revenues that it generates by selling its cars at premium prices provide an opportunity to generate
higher profits as long as the company can manage its operating costs. On the other hand, money
from the huge debt that the company has could be used as capital to expand production and to
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improve innovation. The company could also increase the efficiency and reliability of its limited
supply chain. Limited supply chains are easier to manage than complex ones. At the same time,
the limited market presence that the company has could be used as a means to improve its ability
to meet the needs of the consumers. According to Goyat (2011), isolating market segments helps
companies in optimizing their targeting strategies, understanding the needs of the consumers, and
the ability fo create customized products. In this case, the company could improve the value of
its products and create a positive public image by improving the relevance of its products.
There are several ways that Tesla could mitigate threats. One recommendation to mitigate
the threat of over-ambitious business strategies is to conduct extensive market research before
making any decisions. Despite Tesla’s reputation as an innovative company, its business
decisions have been criticized for being too ambitious, which then affects its ability to meet its
goals and the expectations of investors (Higgins, 2017). The company should base its business
decisions on the actual state of the market, which could then help in setting realistic goals. Tesla
should create good relations with car dealers so that they can establish branded dealerships. The
company has been involved in legal issues emerging from its business model that allows
customers to order their vehicles directly from the company and the existing laws that require
automakers to sell through dealerships (Higgins, 2016). Such a partnership could improve
compliance with state and federal laws while helping Tesla to increase its ability to access
consumers. It could also help Tesla in lowering competition. Besides, Tesla could also lower
competition by diversifying its vehicle models, getting more innovative, and lowering prices.
Finally, Tesla should work with other automakers to lobby the government to adopt more
environmentally friendly policies that promote electric cars. Other than suppressing competition
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from vehicles that use fossil fuel, the new policy could also help Tesla in accessing more benefits
from the government and energy regulators.
Tesla should consider consolidating its operations, developing diverse models,
developing all components in-house, expanding control of its supply chain, and increasing
expanding its presence in emerging markets. Notably, consolidating operations could lower
operating costs and increase efficiency. At the same time, developing all components in-house
could help Tesla to become more innovative, while expanding its supply chain could increase
efficiency, lower production time, and increase productivity. Finally, expanding the company’s
presence in emerging markets and creating more models could help Tesla to gain more
customers and to gain control over these markets before competitions can establish themselves.
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References
Higgins, T. (2016). Tesla Files Suit to Sell Cars Directly to Consumers in Michigan. The Wall
Street Journal. Retrieved from https://www.wsj.com/articles/tesla-files-suit-to-sell-carsdirectly-to-consumers-in-michigan-1474567727
Higgins, T. (2017). Tesla’s Cash Could Burn in Production ‘Hell’. The Wall Street Journal.
Retrieved from https://www.wsj.com/articles/teslas-cash-could-burn-in-production-hell1501782561
Goyat, S. (2011). The Basis of Market Segmentation: A Critical Review of Literature. European
Journal of Business and Management, 3(9), 45-54.
Marshall, A. (2019). Tesla Delivers More Cars—and More Losses. Wired. Retrieved from
https://www.wired.com/story/tesla-delivers-more-cars-more-losses
Rezvani, Z., Jansson, J., & Bodin, J. (2015). Advances in consumer electric vehicle adoption
research: A review and research agenda. Transportation Research Part D: Transport and
Environment, 34, 122-136.
Copyright 2019 by University of Phoenix. All rights reserved.
Running head: PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
Project Metrics based on a Tesla SWOT Analysis
Chris Terle
BUS/475
November 21, 2019
Matiel Payton
1
PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
2
Project Metrics based on a Tesla SWOT Analysis
Explain why this opportunity/threat was selected, and how it is anticipated to benefit the
organization
In the opportunity section of the Tesla SWOT analysis, it states that the company could
expand its market to a higher level, being the reason why Tesla would need to improve its market
and growth as well as increase the company’s profit through mass production of electric cars.
The opportunities in SWOT analysis was anticipated to expand the company’s market
and especially its target the Asian. Again, SWOT analysis was expected to lower the cost of
production that would later help to lower the prices of automotive cars. This is to ensure that cars
produced would be affordable by the targeted costumers. On the other hand, Tesla has identified
key strengths to enable venture into a wide market, it also faces threats in the production of
electric cars. Some of these threats Tesla encounters include high competition from other brands
that manufacture fuel vehicles. Therefore, Tesla has to find the solution to expensive cars and
make them affordable to meets its potential goals, for example, increasing the company’s
profits.
Create at least 3 measurable project objectives based on your analyses. Determine
timelines and responsibilities for each objective (e.g. with a RACI chart)
Project objectives are operations that help an organization to achieve its goals. For
instance, in our case, the opportunities for SWOT analysis are key objectives of the company
that it intends to achieve soon. Therefore, project objectives need to be based on the specific or
most intended objectives of an organization. Some of the project objectives that are well suitable
for Tesla Inc. include;
PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
3
Cost
As seen earlier in the SWOT analysis, Tesla incurs a lot of losses in hundreds of billions.
Losses are incurred arising from the cost production, cost of improving and expanding its
innovation. The key project objective in this scenario is the reduction of cost of operations,
reduction of the cost of electric vehicles to help target the intended markets. Also, the huge
amount used in Tesla operations such as production should be used renovating the model for
optimizing revenues.
Revenues
In other key project objectives, Tesla should develop business models that will help it
optimize the revenues to increase their profits. Therefore, this might help the company to convert
the huge losses incurred into profits by both revenue optimization concerning the number of cars
Tesla is selling and the cost of operations.
Customer service or relationships
In any business enterprise, customer service and relationships play an important role in
product or service production. For instance, if a customer gets a good experience and service
after purchasing an electric car from Tesla, he or she gives good feedback or review about the
company thereby promoting the company’s brand. Therefore, Tesla should at all costs ensure
that the cars sold out offer a good service to the customers. This in return might help Tesla to
reduce competition faced by other vehicle manufacturers.
Explain why these objectives are appropriate for the project
The project’s objectives are appropriate for the project because as seen from the Tesla
SWOT analysis, say for example cost, Tesla has the opportunity to expand its untapped markets.
This means that it must focus on the cost of production to ensure it does not undergo those huge
PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
4
losses. This should be made possible by considering the prices of cars and ensure that they are
made affordable to the targeted market and even worldwide. From Tesla SWOT analysis, the
demand for electric cars is highly increasing meaning that the company has a high chance of
taking advantage of the opportunity to increase its market. Therefore, the company should
establish a mass production of electric to meet the consumer’s demands.
Also, regulating or optimizing revenue objectives is a key issue for the projects.
Optimization of revenues helps an organization to manage its operating cost. This means that it
could help Tesla to track their production cost and sales made, thereby reducing the amount of
cost incurred as a loss. Again, the generation of high revenues raises the opportunity of acquiring
high profits. Therefore, tracking Tesla’s revenue could help it to increase its profits.
The other important project objective is customer service or relationship. Tesla needs to
establish a good relationship with both its customers and other car dealers to raise its brand. This
can be done by legalizing customers to ensure that they can make car orders directly from the
company or through dealers.
Metrics to evaluate the achievement of each of the project objectives
Project metrics are measures that help an organization to quantify project objectives as
well as improve its performance. For this project, the metrics that can help Tesla to make
improvements from its weakness by transforming them into strengths include; Cost metrics, Cost
metrics will help Tesla to manage its operations, and focus on increasing its profits. Also,
through the management of cost operations, Tesla will have a record of its production and sales
for electric cars. Another metrics sales revenue Tesla should focus on optimizing its revenue
through the sales revenue metrics. This can be done by focusing on raising the revenues as in
PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
return it helps in increasing sales by tracking annual sales growth through the sales growth
metrics.
5
PROJECT METRICS BASED ON A TESLA SWOT ANALYSIS
References
Afonso, N. A. (2018). The project of the implementation of driverless technology in vehicles of
Tesla company (Doctoral dissertation, Institute organizers Systemic Production).
Almuzel, M., Goudarznia, T., Daneshi, A., Saadatmand, M., & Yacoub, M. (2018). Tesla Solar
Roof Marketing Plan.
Kancherla, Y. D., & Daim, T. U. (2018). Technology Roadmap: A Roadmap for Tesla.
In Infrastructure and Technology Management (pp. 347-366). Springer, Cham.
6
BUS/475v10
Project Title: Tesla Opportunity
Project Objectives:
•
Identify production cost waste in initial production, assembly line streamlining, and initial product
quality
Operational Step
Responsible Person
Timeline
Gather the top 3 reasons for production
cost waste from each production facility
Lou (Director of Production)
9/30 (2 week)
Identify trends in production cost waste
Bill (Director of Marketing)
10/7 (3 weeks)
Determine production line capabilities
before needing to restructure the line
Bob (Operations Manager)
10/21 (4 weeks)
Review customer complaints within the first
60 days of sales
Joe (Media Relations
Manager),
10/28 (3 weeks)
•
Increase revenue lacking areas of optimization and the cost of operations.
Operational Step
Responsible Person
Timeline
Identify the top two areas lacking revenue
Jim (Director of Sales)
9/30 (1 week)
Determine the 5 greatest cost areas in
vehicle production
Sam (Lead Production
Manager)
10/7 (1 weeks)
Analyze the revenue based on separate
vehicle and vehicle options.
Billy
10/21 (3 weeks)
Determine if cutting number of
manufacturing lines will increase revenue.
Todd
10/7 (5 weeks)
•
Determine customer service/ relationship hooks that will keep customers happy and waiting for
pre-ordered vehicle delays.
Operational Step
Responsible Person
Timeline
Based on expected customer volume,
locations, and times, determine the product
inventory required to support sales.
Kim (COO)
10/14 (2 weeks)
Contact supply companies and negotiate
product pricing quotes and delivery times
Steve (Production sales
manager)
10/21 (5 weeks)
Survey customers regarding delays and
frustrations.
Joe (Media Relations
Manager)
10/21 (4 weeks)
Share customer feedback with marketing
teams
Joe (Media Relations
Manager),Tom (Customer
Service Representative)
10/28 (5 weeks)
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