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Established in 2014, Innovation Ltd. is a medium-sized business. It has been growing
impressively in recent years. The company has a strong record of starting new projects in diverse
business areas to benefit from emerging market opportunities. It is the company’s policy that
PRINCE 2 methodology should be used to manage all new projects.
The company’s CEO has recently identified the following two projects for possible investment. All
going well, the company’s intention is to start implementing these projects from January 2024.
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- Project proposal 1: Establish a cake and pastry business in Sydney. The project will
involve setting up a facility to manufacture cakes and pastries using unique recipes and
selling these products through supermarket and convenience stores. - Project proposal 2: Establish a warehousing facility in a suitable suburb of Sydney. The
company believes that expected rise in online shopping and in demand for imported
consumer goods in coming years will prompt Australian businesses to increasingly use
warehousing facilities offered by companies such as Innovation.
Innovation’s CEO has asked your group to prepare a detailed Project Initiation
Document (PID) for ANY ONE (ONLY ONE) of the above project proposals. It is a
requirement that your PID should conform to the PRINCE2 methodology. The PID
should be presented using the structure given in Week 6 lecture slides under the
heading, “Project Initiation Document (PID) – Contents”. Please note that key
points of the business case should be briefly discussed in the “Business Case”
section of the PID. Details of the Business Case (including risk register) should be part
of the appendices to the PID (please see Week 6 lecture slides titled PRINCE2
Business Case Contents). You are required to undertake relevant research and to
make appropriate assumptions and justify those assumptions
