Project Charter Project Title:  Funky Shea Coffee CompanyBackground Information: According to the market forecast for the coffee industry, coffee is the most consumed beverage worldwide (M, 2018). The demand for coffee has increased in the recent years due to the millennial population fueling its growth and craving more options and variety (M, 2018). The average consumer drinks about two cups of coffee per day (Goldschein, 2011). In 2018 an estimated 158 million bags of coffee were sold and produced(M,2018).Scope:The scope of this project is to organize, plot, and constitute a modern- retro coffee shop with a drive thru that offers a variety of customizable coffee, tea and breakfast options. The location is set for downtown Tampa, Florida. Downtown Tampa is filled with many businesses and people always on the go but has only a few common coffee businesses in place. With an increasing consumer demand for more options and variety in the coffee industry, this business will fill the niche in the market to compete with companies like Starbucks and Dunkin Donuts. This project will cover all processes from the physical construction of the store to the interior design, set up, management, best practice method and resources needed to start this business.Objectives:Construct new building within 6 monthsCreate Customer awareness through marketing80% or higher customer satisfaction within the first year of operationCreate a website for businessInvest in google maps listingMaintain 75% gross marginGenerate at least $50,000 in sales revenue per monthMaintain a high standard of quality and service providedCreate friendly / comfortable atmosphereBecome recognized as “new best coffee spot” in Downtown TampaSuccess criteria:The success criteria for Funky Shea Coffee company will reflect the requirements that ensure successful implementation and completion of this project. Success in this project is defined as the following:Complete all tasks within scheduled timesStay within budgeted amount for projectMinimize delays by Daily, weekly and monthly evaluationsMinimize Risks by enforcing strict protocolsEvaluate employee performance to ensure maximum efficiencyCreate a positive culture within the workplaceStrong strategy and practiceKeep up with metrics and track repeat businessStaying competitive within the area/ industryHigh repeat businessFunky Shea Coffee Company is planning on proceeding with a customer-oriented approach to ensure that the business will be given the best opportunity to succeed and grow. Funky Shea Coffee Company will focus on provide the highest quality products and services to customers, which will help the company expand its customer awareness.Proposed Budget/ Timeline:Funky Shea Coffee Company will set aside a budget to include constructive costs, materials, resources, employment, internal design, equipment, grand opening, marketing and promotions. The set budget for this project is $500,000. The estimate time for store opening is 1 year from the construction date.High-Level Requirements:Successful implementation of strategic plan for business operationsHire reputable construction companyFunding for materials, equipment, and resourcesFull staff for grand openingExceed monthly sales goalsKeep errors/ delays to a minimumStay on top of construction scheduleBe attentive and proactive to any setbacks/ deadlinesManage Material/ product InventoryAcquire all necessary resourcesAlign vision, mission and valuesTarget appropriate age consumersHigh Level Project Description/ Boundaries:The main goal of this company is to develop other options and varieties of coffee, tea and breakfast options for consumers to satisfy the increased demand for the popular beverage/ breakfast on the go concept. Considering the demographics of the downtown Tampa, this business will be fulfilling a niche market of increasing coffee businesses and competition in the area. By opening Funky Shea Coffee Company, the business should be able to achieve their goals of meeting their monthly sales goals with competitive pricing, quality and service. The new presence in the community will help attract customers, revenue and repeat business once they experience the high-quality service and options that Funky Shea has to offer.Boundaries related to this project consist of:Thoroughly training all employeesHaving sufficient amounts of product to meet consumer needsInstalling all necessary utilitiesOrganized work scheduleWritten policies and procedures for each process needed to run the businessSchematic/ store set upSmart Location choice/ marketing strategy for areaLimiting changes to construction scheduleAssumptions:Funky Shea Coffee Company is assuming that by investing in the niche market in the downtown Tampa area and expanding customers options for coffee, tea and breakfast spots will give them an opportunity to make a significant presence and offer their service and quality to the community. Exposure will aid Funky Shea Coffee Company in attaining revenue and customers.  Funky Shea Coffee Company is assuming to be able stay on budget and complete all tasks including construction within the intended time frame. Funky Shea Coffee Company is assuming that their commitment to their service, quality and customers will provide the repeat business they are looking for in the long run. Funky Shea Coffee Company is assuming they will be able to stay competitive with the surrounding coffee businesses by meeting customers price, quality, and service needs better than their competitors.Constraints:Possible constraints that Funky Shea Coffee Company may face can include poor market size, decrease sales, delays in obtaining necessary resources, delayed deadlines, increased expense causing business to go over the budget. Problems staying competitive within the downtown area, and decreased customer satisfaction are all restrictions that could keep this business from completing the project successfully.High Level Risks:Decreased economic conditionsDecreased profit and sales revenueCompetitive pricingTheft and damageMeeting supply and demand requirementsState/ city limitations/ restrictionsConstructions delaysDelaying grand opening Milestone Schedule:Milestone   Expected Date   Actual DateProject Start Date February 1, 2019 Select Location February 16, 2019 Location Approval February 21, 2019 Hire Construction Crew February 27, 2019 Plan Layout for Store March 5, 2019 Begin Construction March 10, 2019 Hire Employees  August 15, 2019 Create Budget/ Cost Plan  February 10, 2019 Obtain Funding  January 11, 2019 Established policies, procedures and operations   April 16, 2019 Marketing/ Advertisement deadlines for opening  April 25, 2019 Obtain resources, materials, product and equipment for store  April 10, 2019 SWOT analysis  March 13, 2019 Supply and demand requirements set  April 9, 2019  Complete Construction  August 10, 2019 Final Project Report  September 25, 2019 Project Completion/ Grand Opening  February 1, 2020  Financial Resources/ Budget:                   Category      Monthly Cost Associated Payroll/ Salaries$ 50,000Construction Costs$ 20,00Marketing/ Promotions$ 10,000Utilities$ 2,000Insurance$ 2,000Equipment/ Material costs$ 40,000Expenses/ Supplies$ 4,000Product Purchase$ 5,000Total Cost per month$ 133,000Total Cost per year$ 1,596,000 Stakeholders List:Property/Business OwnerConstruction TeamSuppliersShareholdersEmployees of businessProject ManagerCommunity/ CustomersCity/ StateProject Approval Requirements/ Exist Criteria:Some requirements for Funky Shea Coffee Company consist of obtaining a construction permit, passing building inspection, obtaining sales tax license, Business license/ permit, Fire department permit, Budget approval, and lastly funds approval. All these major components are crucial to the success of the project. The Project manager will decide if project is on track to meet expectations set by the Owner. The project manager will have the sign off on all final decisions for the project.Project Manager will be prepared will all necessary tools, polices, procedures, deadlines prior to the process bringing. The project manager will be responsible for producing a final report to assure the project has meet requirements and deadlines. Assigned Project Manager, Responsibility & Authority Level:The Project Manager will be Stephen Mayer’s. Mr. Mayer’s will be in charge of making sure the strategic plan is implemented as intended.  Mr. Mayer’s will also be responsible for assuring all employees are complaint in Funky Shea Coffee Company processes, procedures, and polices. The Project Manager will assume responsibility for any obstacles that way arise. The project Manager will stay organized communication and an appropriate schedule for tasks. The project manager will use good time management processes when coordinating work place schedules and coverage for all shifts.Authority/ Sponsor Authorizing Project Charter: Approved by Project Sponsor: Name and title:     Date:   References:  A guide to the project management body of knowledge: (PMBOK® guide). (2017). Newtown Square, PA, USA: Project Management Institute.Goldschein, E. (2011, November 14). 11 Incredible Facts About the Global Coffee Industry. Retrieved from https://www.businessinsider.com/facts-about-the-coffee-industry-2011-11#fair-trade-coffee-is-still-a-small-portion-of-the-market-but-it-is-the-most-popular-fair-trade-commodity-in-the-world-10Kerzner, H. R. (2014). Project Management – Best Practices: Achieving Global Excellence, 3rd Editi. John Wiley & Sons.M. (2018). Coffee Market – Growth, Trends and Forecasts (2019 – 2024). Retrieved from https://www.mordorintelligence.com/industry-reports/coffee-market