2. Cost of the work

Assuming that our group will act as a separate consulting company, the cost of work will be as followed:

• The daily rate of each group member is 500 EUR/day

• For any study requirements, the cost of the work will be based on separate agreements

• Travel costs will be charged separately according to Finnish law travel rules

Terms of payment:

• First payment EUR 500 for each group member, 14 days net upon signing the Management Consulting Agreement

• Invoicing once per month including the cumulated travelling costs, 14 days net

Prices are based on current Pöyry consulting group prices.

3. Timetable

Time management is a critically important for any successful project research organization. In order to prepare the project schedule the main activities have to be identified, duration and resources required and the order. Each of the elements has a direct bearing on the schedule. In the creation process of the project time schedule we use event chain method, which is focused on identifying and managing events that affect project schedule. Event chain allow for easy modelling of uncertainties and evaluation of risks in the project schedule as well as for successful accomplishment of the project (Davila 2007.)

Time table for the Leadership research plan can be found as the attachment 1. In the attachments we place the event chain, underline critical events and visualize it with timetable. Important check points for the successful research are 1) creation of a valid and concise research plan 2) creation of the questionnaire with reflection to our variables 3) collecting the data 4) data analysis based on the results 5) creation of a useful tool kit for students’ further usage in the projects.

8. Risks

In the project risk assessment is an integral part of the research plan, studying the probability, the impact, and the effect of every known risk on the project, as well as the corrective action to take should that risk occur. (Wikipedia 2009.) The main outcome of this research is to produce relevant information for future usage. In formal research strict control is required in order to produce relevant information. Being relevant means the probability is high that the research results reflect what is happening now or might happen in the future. There are risks which we can meet during the research. (Ball 2008.)

First one and initial risk is misunderstanding of the objectives and desired outcome. The researcher was not given clear instructions of the objectives and desired outcome of the research was not explained, which may lead to wrong information flow from the beginning. Misinformation can result in improper method to carry out the research.

Research validity and reliability is important issue in this particular research. Responded groups and individuals may not have enough experience and knowledge required for reliability of the outcomes. (Businesslink.com 2010.) Creation a tool kit for future usage in the projects is responsible and challenging task, relaying only on student’s responds is not professional. For complication of productive and effective tool kit we need to analyses theory and existing researches as well as quantitate part of the research.

Work in the international group is always a challenge, possibility of bad coordination and communication problems are likely to accrue. In order to handle this challenge we need to overcome language barrier and create professional and productive atmosphere.

Building a good questionnaire is one of the challenges. Questionnaire must be brief and concise, not too long but curt enough in order to get desired information. The form to question the customer might be hard to encourage them to give the respondents the answers. If so, it is not easy to define the feedback from the market and necessary data in order to follow the next step. Major problems with questionnaires is incorrect data, designing quality questionnaires and on avoiding common errors.

Possible mistakes may take place in the phase of data processing and calculation phase. While analyzing the data collected, the researches may experience some errors that that lead to the wrong final results, which can affect analysis phase of research. (Barnesandnoble.com 2011.)

Consequently, once the risks are identified, you can decide whether to accept, transfer, reduce or eliminate them. Different ways should be taken into consideration. Good risk and challenges assessment can improve the quality and outcome of the market research.