Sculpturing: Optimising Budget through Machine Learning

A project management journey for foodpanda’s Marketplace Balance Project

Building on Introduction: Optimising Budget through Machine Learning, this article aims to share the sculpturing of the project, in terms of setting up the project and forming ways of working within the team.

To know more about the methodology of the project, it is written in The Making: Optimising Budget through Machine Learning.

Setting the Foundation: Identifying Stakeholders and Defining Objectives

Our initial steps involved identifying key stakeholders and defining the problem statement, laying the groundwork for the entire project. Through thoughtful meetings with various teams, we outlined expected deliverables and assembled a dedicated team, ensuring clear communication channels and alignment of roles.

Charting the Course: Developing a Comprehensive Project Charter

Transitioning into the Planning phase, we delved into developing a comprehensive project charter that encompasses the project’s background, objectives, scope, stakeholders, constraints, assumptions, risks, and deliverables. Seeking stakeholder alignment and managing challenges, such as volatile expectations and uncertainties, became pivotal. Agile methodology and Kanban were embraced to enhance adaptability and streamline task tracking.

Navigating Challenges: Adapting to the Unpredictable

The outcome of our projections hinges on highly unpredictable factors, such as weather, time-limited offers launched by vendors, and campaigns from competitors. Accessing these data points is challenging and limited, yet their significance in our project is substantial.

After extensive deliberation and analysis, we made the decision to categorize these volatile variables as out of scope for the project. Emphasizing the importance of controlling what is within our reach, we chose to proceed with the project to the best of our abilities.

Through careful analysis, we observed that these volatile variables only happen on specific days of the month or year. The majority of the year consists of normal days.

Another hurdle we encountered was the inherent uncertainty of the project. The steps to be taken and the stakeholders’ requirements were unclear, prompting us to acknowledge the dynamic nature of the project. In response, we opted for an Agile methodology to effectively accommodate changes and enhance adaptability throughout the project’s lifecycle. The utilization of Kanban aids in tracking tasks and monitoring progress, contributing to a more flexible and responsive project management approach.

Leading the Team: Strategic Planning and Servant Leadership

In the face of ambiguity, leadership became crucial. Strategic planning, sprint planning, and a servant leadership approach helped to support the team and enhanced team performance. Regular updates and maintenance of project artifacts ensured alignment with evolving project developments.

Stakeholder Engagement: Transparency and Collaboration

Effective communication and engagement strategies were pivotal throughout the project. Maintaining transparency through channels like Slack, presentations, and Zoom calls, we actively solicited stakeholder feedback after each sprint. This collaborative approach fostered an environment of trust and alignment.

Closing the Project: Communicating Success and Ensuring Legacy

In the closing stage, a successful project delivery was communicated to stakeholders. Objectives were verified, and feedback was incorporated into final outcomes. Artifacts were revised and updated to facilitate knowledge transfer within the team and ensure the project’s legacy for future reference.

Conclusion: Orchestrating Success in Market Dynamics

The Marketplace Balance Project, an intricate dance between demand and supply, showcases the significance of agile methodologies, effective communication, and strategic planning & leadership. By navigating challenges and uncertainties, this project management journey highlights the importance of adaptability, stakeholder engagement, and collaborative team efforts in achieving success.