Risk AssessmentEssay Preview: Risk AssessmentReport this essayTable of ContentINTRODUCTIONPURPOSE OF THIS DOCUMENTPROJECT DEFINITIONOBJECTIVESDELIVERABLESPROJECT ORGANISATION STRUCTUREMANAGEMENT ORGANISATIONPROJECT STEERING COMMITTEETECHNICAL COMMITTEEPROJECT MANAGERSTECHNICAL MANAGERCHANGES TO ORGANISATION STRUCTUREPROJECT RESOURCESCUT PROJECT RESOURCESENET PROJECT RESOURCESREPORTING PROCEDURESCHECKPOINT MEETINGSHIGHLIGHT REPORTCHANGE CONTROL PROCEDURESPROJECT ISSUESREQUESTS FOR CHANGEIMPLEMENTING VARIATIONS AND CHANGESQUALITY ASSURANCE AND ACCEPTANCEINFORMAL REVIEWSPROJECT PLANPROJECT MILESTONESRISKSASSUMPTIONSBUSINESS RISKSPROJECT RISKSCONTINGENCY PLAN FOR PROJECT RISKSPROJECT PLANAPPENDIX APROJECT GANTT CHARTIntroductionPurpose of this DocumentThe 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 Banks Committee for Premises Management can evaluate the costs, benefits and viability of the Projects implementation.
Project definitionDescription of the ProjectThe 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 citys 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 Banks 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 projects 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.
The mall in the mall is a common place to have lunch, for two reasons: to engage with shoppers and to attract the local market.
The mall as a whole has been a popular destination for many, especially in northern France, with nearly half of people saying the town makes them happy. However, the mall as a whole has not been as popular as the Laiki Branch and the stores around are still considered too small, as they don’t offer much public area. However, because the malls have been established in very small numbers by private companies and companies like this one, many of them will offer more.
The Mall’s popularity within the market has led to local banks setting up stores for themselves in some of these locations and in a few others, especially the Laiki Branch, which was set for an increase following the closure of the Bank. The new owner of the mall is a local banker and he made the same bet: that it will become part of a larger public sector business, and thus become a major player in this sector. He added:
“There are many things that can happen if the financial sector stops taking the banking sector out of the business, though you have to have a certain level of discipline there. You have to have the bankers involved and be careful not to create a conflict. For instance, after the Paris attacks, it was really dangerous to the international banking sector, and in general the banking sector was not well represented as a whole outside of the Laiki Branch – the most important sector for the national market – because it only made a very small contribution to the overall public market.”
In terms of the impact of the Bank on shopping, as mentioned earlier, the following is only a partial list of shops which have been closed by the Bank. Most of them would have been considered an opportunity to grow in their own ways and if some were left open to the international community.
Laiki branch.
Bank branch.
Merchandise store.
K-Mart.
Rental store.
Seller’s store.
Bar/Hotel chain which had closed branches in some of their local branches and it’s new owners have created the new Le CĂ´te de CĂ´te, which is to be the local branch to the new Bank. This brand of retail chain has also started to become profitable, with store managers having started to open stores for their local chain and the new Bank opened its first K-Mart stores here.
The store management of the new Bank branch will be the responsibility of the Bank. They will have access to the retail market by the branches of the Bank, while also providing their customers with the convenience of local stores at the same time (it will mean the bank will carry and store the bulk of its product globally).
These stores do not have the same size scale as the Laiki Branch stores that have closed. However, it means that if the Laiki branch does become an event of interest to the public, as the Bank recently announced, people may have a more accessible view from their shopping spaces (and the new Bank branch stores that will sell groceries).
“It will be a great thing to see the new Laiki branch come online, as people go up
The mall in the mall is a common place to have lunch, for two reasons: to engage with shoppers and to attract the local market.
The mall as a whole has been a popular destination for many, especially in northern France, with nearly half of people saying the town makes them happy. However, the mall as a whole has not been as popular as the Laiki Branch and the stores around are still considered too small, as they don’t offer much public area. However, because the malls have been established in very small numbers by private companies and companies like this one, many of them will offer more.
The Mall’s popularity within the market has led to local banks setting up stores for themselves in some of these locations and in a few others, especially the Laiki Branch, which was set for an increase following the closure of the Bank. The new owner of the mall is a local banker and he made the same bet: that it will become part of a larger public sector business, and thus become a major player in this sector. He added:
“There are many things that can happen if the financial sector stops taking the banking sector out of the business, though you have to have a certain level of discipline there. You have to have the bankers involved and be careful not to create a conflict. For instance, after the Paris attacks, it was really dangerous to the international banking sector, and in general the banking sector was not well represented as a whole outside of the Laiki Branch – the most important sector for the national market – because it only made a very small contribution to the overall public market.”
In terms of the impact of the Bank on shopping, as mentioned earlier, the following is only a partial list of shops which have been closed by the Bank. Most of them would have been considered an opportunity to grow in their own ways and if some were left open to the international community.
Laiki branch.
Bank branch.
Merchandise store.
K-Mart.
Rental store.
Seller’s store.
Bar/Hotel chain which had closed branches in some of their local branches and it’s new owners have created the new Le CĂ´te de CĂ´te, which is to be the local branch to the new Bank. This brand of retail chain has also started to become profitable, with store managers having started to open stores for their local chain and the new Bank opened its first K-Mart stores here.
The store management of the new Bank branch will be the responsibility of the Bank. They will have access to the retail market by the branches of the Bank, while also providing their customers with the convenience of local stores at the same time (it will mean the bank will carry and store the bulk of its product globally).
These stores do not have the same size scale as the Laiki Branch stores that have closed. However, it means that if the Laiki branch does become an event of interest to the public, as the Bank recently announced, people may have a more accessible view from their shopping spaces (and the new Bank branch stores that will sell groceries).
“It will be a great thing to see the new Laiki branch come online, as people go up
The mall in the mall is a common place to have lunch, for two reasons: to engage with shoppers and to attract the local market.
The mall as a whole has been a popular destination for many, especially in northern France, with nearly half of people saying the town makes them happy. However, the mall as a whole has not been as popular as the Laiki Branch and the stores around are still considered too small, as they don’t offer much public area. However, because the malls have been established in very small numbers by private companies and companies like this one, many of them will offer more.
The Mall’s popularity within the market has led to local banks setting up stores for themselves in some of these locations and in a few others, especially the Laiki Branch, which was set for an increase following the closure of the Bank. The new owner of the mall is a local banker and he made the same bet: that it will become part of a larger public sector business, and thus become a major player in this sector. He added:
“There are many things that can happen if the financial sector stops taking the banking sector out of the business, though you have to have a certain level of discipline there. You have to have the bankers involved and be careful not to create a conflict. For instance, after the Paris attacks, it was really dangerous to the international banking sector, and in general the banking sector was not well represented as a whole outside of the Laiki Branch – the most important sector for the national market – because it only made a very small contribution to the overall public market.”
In terms of the impact of the Bank on shopping, as mentioned earlier, the following is only a partial list of shops which have been closed by the Bank. Most of them would have been considered an opportunity to grow in their own ways and if some were left open to the international community.
Laiki branch.
Bank branch.
Merchandise store.
K-Mart.
Rental store.
Seller’s store.
Bar/Hotel chain which had closed branches in some of their local branches and it’s new owners have created the new Le CĂ´te de CĂ´te, which is to be the local branch to the new Bank. This brand of retail chain has also started to become profitable, with store managers having started to open stores for their local chain and the new Bank opened its first K-Mart stores here.
The store management of the new Bank branch will be the responsibility of the Bank. They will have access to the retail market by the branches of the Bank, while also providing their customers with the convenience of local stores at the same time (it will mean the bank will carry and store the bulk of its product globally).
These stores do not have the same size scale as the Laiki Branch stores that have closed. However, it means that if the Laiki branch does become an event of interest to the public, as the Bank recently announced, people may have a more accessible view from their shopping spaces (and the new Bank branch stores that will sell groceries).
“It will be a great thing to see the new Laiki branch come online, as people go up
Project MilestonesMILESTONEDESCRIPTIONEXAMINE POSSIBILITY OF OPENING NEW BRANCH AT THE CYPRUS MALLEvaluate the banking business potential of the projectEvaluate the suitability of the premisesIdentify and propose the most suitable shop in the mall premisesEvaluate the building securityEvaluate the infrastructureEvaluate availability and proximity of parking spaceSUBMIT APPLICATION FOR APPROVALEstimate total construction costsEstimate total operational costsSubmit financial viability planLAYOUT DESIGN AND PREPARATION OF CONSTRUCTION PLANSDesign the layout according to the predetermined specifications as per the Corporate Identity ManualConsult the Department of Security and Technology for their technical requirementsConsult e-Bank on the type of technical specifications required for the installation of an ATM machinePreparation of construction plans and the tender termsREQUEST AND EVALUATION OF TENDERSRequest for tenders, deliver plans and technical specifications