The current short term project which can be carried out in an organization is a website that people can log in to check the services available and pay for them online in any place they are. This website should also be able to be understood in different languages. It should be translated to all languages that are spoken by the clients. That is English, French Japanese and Chinese.
The website development will therefore need to be funded for its development. There are different methods that could be used to fund this project. This may include applying for grants and donors. This method may yield the money needed to do the project. However it is not guaranteed that the person applying for will definitely be funded. The time period that is needed for this project at the same time is not predictable. It may take a longer time to get the money to fund the project. This is because you can never force the donor to fasten the plans as you are requesting it for funding. Another method that a person may raise the money for the project development is through the saving that the company has saved.
This method is very effective when the project that is to be funded is small and requires a small amount of money in its operation. However if the company is still young it may be impossible to raise all the money that is needed to carry out a big project. The company stake holder may also be requested to raise some money to fund a particular project. This is also one of the methods that are more effective. However, they should all be convinced for the importance of the project. Other stakeholders may be reluctant to raise the money (Lock, 2007).
Another method which can be used to raise money for project development is application for loans from the loaning firm. This method has been proven to be more effective in most projects. The person who needs to loan should however write a proposal to the loaning company on how the money will be used. The amount of money one expects from the investment and the way the company will pay back the debts.
The website project is a long term project. The management of the company, the executive, the stake holders, the users and the web designer discussed on the development of the website. The Flight centre limited is a big company that conducts its business through an association of retail shops and internal dealings. Globally, Flight Centre Limited owns an extensive footprint of stores. This is a valuable distribution network for a travel supplier that operates in airlines, car hire and hotel businesses. This has led to the creation of the company’s brand that is recognized and easily identified internationally. The company’s main operations are centered in Australia, the company’s core market. Company has operations in other countries such as the United Kingdom, United States, Canada, United Arab Emirates, New Zealand and South Africa. Additionally, the company has solidified its operations in the Indian corporate travel agency market and formally took ownership of its Indian corporate travel joint venture. These are among the expansion activities that the company is undertaking in the global market (Cleland & Ireland, 2006).
It is a big company which has a lot of savings. The savings could comfortably cater for the website development. The management of the company, the executive however and the developer discussed on the amount that was approximated to be the cost of the project. The estimation is based on the projects that are similar to the one that is to be developed. The developer is also experienced personnel in the firm so estimation is predicted to be accurate.
The long term project that is being carried out by the company is expansion of the business to other countries. The country that has been proposed is China. This expansion needed a lot of finances. The building is to be acquired in China, the employees were supposed to be hired, the office equipment were to be bought. The revenue to be paid to the Chinese government is estimated to be expensive as it is a foreign country. These entire amounts are expensive and more than one sources of project funding are involved (Götze, Northcott & Schuster, 2007).
The savings of the company is one of the methods that are used to fund the project. This could raise half of the needed amount. The company’s saving could be the best option as could be easily gotten without much struggle. It only needed the management, the executives, and the stakeholders of the company to agree on the proposed project. Another method that is used was funding of the project by the loaning firms. This method was the best alternative that was selected as the amount needed for the project could be easily gotten and the time that could take to get the amount was shorter as compared to other methods of project funding.
Cleland, D.I. & Ireland, L.R. (2006). Project management: strategic design and implementation. 5th ed. New York: McGraw-Hill Professional
Götze, U. Northcott, D. & Schuster, P. (2007). Investment Appraisal: Methods and Models. New York: Springer
Lock, D. (2007). Project management. 9th ed. New York. Gower Publishing, Ltd., 2007