ILMA UNIVERSITY KARACHI
Project Title:
Strategic Business Planning: A Project Management
Approach for Startups
Project Objective: Students will develop a detailed business plan for a new venture, integrating
core project management concepts. The project emphasizes stakeholder analysis, risk
management, resource allocation, market research, financial planning, and effective presentation
skills. Additionally, students will apply a GANTT CHART to plan and track the project timeline,
ensuring efficient execution and timely completion.
Project Guidelines:
Task 1: Business Idea Selection
Business Selection: Choose a viable business idea. Ideas could include:
Food and Beverage (e.g., Café, Food Truck)
Online Services (e.g., Tutoring, Digital Marketing)
Retail (e.g., Clothing, Accessories)
Technology (e.g., App Development, E-Commerce)
Description: Provide a detailed description of your business, including its name, mission,
and vision.
Task 2: Market Research
a. Target Market Analysis: Identify and describes your target audience, including
demographics, needs, and preferences.
b. Competitive Analysis: Research existing competitors in the market and analyze their
strengths and weaknesses.
c. Market Trends: Identify relevant market trends that could impact your business.
Task 3: Marketing Strategy
3.1. Marketing Mix
a. Product: Describe your product or service and what makes it special.
b. Price: Decide on a price based on similar products.
c. Place: Determine where you will sell it (online, in a store, or both).
d. Promotion: List ways you will promote your product (e.g., flyers, social media).
3.2. Promotional Plan
How to Attract Customers:
a. Advertising: What types of ads will you use?
b. Social Media: Which platforms will you use to connect with customers?
c. Events: Will you organize any events to promote your business?
3.3. Branding
Branding Strategy:
a. Logo: What will your logo look like?
b. Brand Voice: How will you communicate with customers (e.g., friendly, serious)?
c. Customer Experience: What kind of experience do you want your customers to have?
Task 4: Business Operations
Daily Operations: Describe what your business will do every day. Include:
4.1. Location: Where will your business be located (e.g., physical store, online, etc.)?
4.2. Equipment: List the essential tools or equipment you will need to run your business (e.g.,
computers, appliances, furniture).
4.3. Staffing Needs: Explain how many employees you will need and their roles (e.g., cashier,
chef, delivery person).
Task 5: Risk Management
5.1. Possible Risks:
Market changes and competition.
Financial losses due to poor sales.
Supply chain disruptions.
5.2. Risk Mitigation Strategies:
Flexible pricing models.
Diversified supplier base.
Emergency budget planning.
Task 6: Financial Plan
6.1. Startup Costs: Provide a detailed budget for startup expenses (e.g., equipment,
licenses, initial inventory).
6.2. Revenue Projections: Estimate expected revenue for the first year, including pricing
strategies.
6.3. Break-even Analysis: Calculate how long it will take to cover initial costs.
6.4. Cash Flow Forecasting: (New Subsection Added)
Predict monthly cash inflows and outflows.
Ensure funds are available for operational expenses.
Identify periods of potential cash shortages and solutions.
Task 7: Project Management & Gantt Chart
Project Timeline Planning:
o Use a Gantt chart to visualize each phase of the business plan.
o Assign deadlines for tasks such as market research, financial planning, and
presentation preparation.
o Monitor progress to ensure timely completion.
Task 8: Business Plan Compilation
8.1. Document Creation: Compile all sections into a cohesive business plan document.
8.2. Formatting: Headings (size 16, bold), Subheadings (size 14, bold), Text (size 12,
regular); ensure professional formatting with clear visuals, consistent styling, and mandatory
inclusion of Pictures where necessary.
Task 9: Presentation
9.1. Prepare a Presentation: Create a 10-12 slides presentation summarizing your
business plan. Highlight key points from each section.
9.2. Presentation Skills: Each group will present their business plan to the class in a
10-minute session, followed by a Q&A.