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Formal e-business project plan; ROI evaluation of new technologies

1. What are various elements of a formal e-business project plan? Why is it important to create an e-business project plan? Why do managers ignore planning? Briefly describe the concepts of project scheduling and cost estimation in support of an e-business plan.

2. What are the most important elements in conducting a technology alternatives cost analysis? Why is it important to conduct an ROI evaluation of new technologies?

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I - What are various elements of a formal e-business project plan?

The process of developing the project plan varies from organization to organization, but any project plan must contain the following elements:

? Overview

? Objectives

? General approach

? Contractual aspects

? Schedules

? Resources

? Personnel

? Evaluation methods

? Potential problems

These elements constitute the project plan and are the basis for a more detailed planning of budgets, schedules, work plans, and general management of a project.

Although there are far more similarities than differences, most of what you expect to see in a business plan will also be in an e-business plan.

An e-business plan will contain additional elements that are different from any other business plan such as:

? First, and biggest, difference in e-business planning is the need for the entrepreneur to recognize the different and unique capabilities of the Internet and begin to think differently, and creatively, about the opportunities and problems the Internet presents.

? The Internet is global. Being on the Web means your business will be visible to an international audience.

? Web storefronts never close. Being on the Web means your store will be open 24 hours a day, 7 days a week.

? The Web allows greater opportunities for personalization of content, one-to-one marketing, and customer self-service.

? E-commerce is conducted at Internet speed. This means Web site deployment must be planned in months, or even weeks, not years.

? Customer focused: The Internet, and the customer-oriented applications that the Internet makes possible, means ...

Solution Summary

The various elements of a formal e-business project plan is determined.