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Business Risk Assessment
1. INTRODUCTION 4
1.1 PURPOSE OF THIS DOCUMENT 4
2. PROJECT DEFINITION 5
2.1 AIM 5
2.2 OBJECTIVES 5
2.3 DELIVERABLES 5
3. PROJECT ORGANISATION STRUCTURE 6
3.1 MANAGEMENT ORGANISATION 6
3.2 PROJECT STEERING COMMITTEE 6
3.3 TECHNICAL COMMITTEE 7
3.4 PROJECT MANAGERS 8
3.5 TECHNICAL MANAGER 9
3.6 CHANGES TO ORGANISATION STRUCTURE 9
4. PROJECT RESOURCES 10
4.1 CUT PROJECT RESOURCES 10
4.2 ENET PROJECT RESOURCES 10
5. REPORTING PROCEDURES 11
5.1 CHECKPOINT MEETINGS 11
5.2 HIGHLIGHT REPORT 11
6. CHANGE CONTROL PROCEDURES 12
6.1 PROJECT ISSUES 12
6.2 REQUESTS FOR CHANGE 12
6.3 IMPLEMENTING VARIATIONS AND CHANGES 13
7. QUALITY ASSURANCE AND ACCEPTANCE 14
7.1 INFORMAL REVIEWS 14
8. PROJECT PLAN 15
8.1 PROJECT MILESTONES 15
9. RISKS 16
9.1 ASSUMPTIONS 16
9.2 BUSINESS RISKS 16
9.3 PROJECT RISKS 16
9.4 CONTINGENCY PLAN FOR PROJECT RISKS 17
10. PROJECT PLAN 18
APPENDIX A 20
PROJECT GANTT CHART 20
1. Introduction
1.1 Purpose of this Document
The purpose of this document is to assess the prospects of opening up a new branch of Marfin Popular Bank in the Mall of Cyprus in Nicosia.
It will act as a base document, upon which the Bank’s Committee for Premises Management can evaluate the costs, benefits and viability of the Project’s implementation.
2. Project definition
2.1 Description of the Project
The idea for this study derives from the upcoming opening of a new shopping centre of unprecedented scale in a prime location in Nicosia, called “the Mall of Cyprus”. The Mall which is constructed by the most important conglomerate that is active in Cyprus – the Shakolas Group – is expected to highly affect the shopping habits of the city’s inhabitants and of people from other towns. The building itself is by far going to be the largest shopping premise on the island and, in addition to the various shops, it will include a large Carrefour supermarket, a movie multiplex and several restaurants.
Due to the Bank’s need and internal policy for having presence at all major geographical areas and important business centers, the Mall can be considered as a vital location for consumer banking. Marfin was first to recognize the importance of having branches in such locations with continuous flow of people, as proven by its small branches in the smaller “Orfanides” shopping centers in Limassol and Nicosia. The experience gained through time and the financial results of the specific branches can be utilized as a basis on valuating the project’s potential.
Furthermore the overall corporate strategy of Marfin Popular Bank, as recently set by its new leadership, puts great emphasis on retail banking and on gaining a larger market share in the local market. A branch in the Mall seemingly falls well under this strategy, as the Mall is a place where people of all ages and interests pass by: youngsters going to the movies, families going grocery shopping or casual shoppers. ATM machines will certainly have a high usage in such a prime shopping location, but most of all; the Bank will have the ability to implement more direct marketing campaigns aimed at the end consumer. Banners, commercials and promotions will be exposed to all sorts of people that do not necessarily represent customers of the Bank, as would be the case in a sole Laiki Branch at any other part of the city.
3. Project Milestones
MILESTONE DESCRIPTION
1. EXAMINE POSSIBILITY OF OPENING NEW BRANCH AT THE CYPRUS MALL
1.1 Evaluate the banking business potential of the project
1.2 Evaluate the suitability of the premises
1.3 Identify and propose the most suitable shop in the mall premises
1.4 Evaluate the building security
1.5 Evaluate the infrastructure
1.6 Evaluate availability and proximity of parking space
2. SUBMIT APPLICATION FOR APPROVAL
2.1 Estimate total construction costs
2.2 Estimate total operational costs
2.3 Submit financial viability plan
3. LAYOUT DESIGN AND PREPARATION OF CONSTRUCTION PLANS
3.1 Design the layout according to the predetermined specifications as per the Corporate Identity Manual
3.2 Consult the Department of Security and Technology for their technical requirements
3.3 Consult e-Bank on the type of technical specifications required for the installation of an ATM machine
3.4 Preparation of construction plans and the tender terms
4. REQUEST AND EVALUATION OF TENDERS
4.1 Request for tenders, deliver plans and technical specifications
4.2 Collect tenders within the predetermined time frame
4.3 Evaluate tenders in cooperation with external consultants
4.4 Assign the project to the winning bidder
5. EXECUTION OF CONSTRUCTION WORK
5.1 Communicate the expected time frame for completion of construction work
5.2 Supervise the execution of construction work
5.3 Install required telephone lines
6. EQUIP THE PREMISES
6.1 Order climate control systems
6.2 Order furniture and fittings according to the predetermined Group Identity specifications
6.3 Order computer systems
6.4 Order telephone devices
6.5 Order Fax machines
6.6 Order Copiers
6.7 Order vaults
6.8 Order security equipment
6.9 Order stationary
6.10 Order kitchen appliances
6.11 Order lighting
6.12 Order and install signs
7. PREPARE THE PREMISES FOR OPERATION
7.1 Install ATM
7.2 Install computers
7.3 Setup the network
7.4 Setup telephone system
7.5 Arrange for the safe transfer of cash
8. STAFFING
8.1 Ask Operations and Methods Department to evaluate staff requirements
8.2 Allocation of staff by HR Department
9. ANNOUNCE OPENING DATE
9.1 Inform public through media
9.2 Organize grand-opening party
9.3 Invite the Archbishop to perform the traditional blessing of the new premises
8. Project plan
8.1 Project Milestones
Milestone 4: Request and Evaluation of Tenders
Activity 1: Request for tenders, deliver plans and technical specifications.
• Prepare Request for Proposal (RFP) according to Bank’s requirements and specifications.
• Incorporate suitable delivery plans according to scheduled time-plan of opening the branch
• Set minimum criteria and requirements on technical specifications
Activity 2: Collect tenders within the predetermined time frame
• Make adequate provision for secure and transparent collection of tenders
• Reject tenders not received prior to the submission deadline
Activity 3: Evaluate tenders
• Ensure confidentiality of the evaluation process and open tenders with the attendance of tenderers’ representatives
• Evaluation of tenders
o Preliminary examination of tender documents
o Detailed evaluation which first involves checking that the commercial conditions, technical characteristics and functional performance of the tender are in accordance with the Bank’s requirements
o Apply the evaluation criteria specified in the tender documents and adjust each tender as appropriate using the evaluation criteria.
o Request of clarifications where necessary
o Check previous experience on similar projects
o Examine financial part of tenderers that satisfy technical criteria. Review tender prices, compare and rank in ascending order to determine the tenderer with the lowest evaluated price
Activity 4: Assign the project to the winning bidder
• Recommendation of award to Bank’s management
• Notify successful tenderer by issuing acceptance letter.
The above Guidance Steps outline how tenders are received opened and evaluated under open tendering procedures for contracts related to opening a new Bank branch. The procedures conform to the Bank’s policies and regulations and are consistent with the Bank’s Standard Tender Documents.
The purpose of tender evaluation is to determine the lowest evaluated responsive tender from amongst the substantially responsive tenders received. The lowest evaluated responsive tender may not necessarily be the lowest priced tender. The lowest evaluated tender is determined by applying the evaluation criteria, which are specified in the tender documents. In order to determine the lowest evaluated responsive tender, a systematic evaluation process that follows a logical sequence should be applied.
The tenderer is responsible for carrying out all procurement activities and decisions in accordance with the Bank’s policies. The Bank will monitor the process and review critical steps and decisions to ensure itself that the terms are being followed. If the Bank determines that any equipment or action is not consistent with the minimum requirements, it will inform the winning bidder and demand that he rectifies the inconsistency. In any other case the Bank will proceed to the appropriate legal actions.
Milestone 9: Prepare the premises for operation
Having set up the branch, the final step is to inform the public and set the opening date.
 Announce opening date
• Inform public through media
o Set advertising objectives
 Target audience
 Informative advertising
o Set advertising budget
 Adequate to build awareness
 Adequate to build market share
o Develop advertising strategy
 Message decisions
• Tone
• Words
• Format
• Headline
• Text