Project Code Name: Stargazer
• Research and development has already started on our new widgets. The company has spent $450,000 on this product so far and the estimate to bring this product to market is $575,000.
• Risk of completing this project on time is high.
• Product is forecasted to have ROI of $300,000 first year; $550,000 the second year; and $750,000 the third year.
• The product life is forecasted to be 7 years for this product. (This forecast included derivative product which will cost more).
• By delivering such an innovative product to the market place first, your organization will be seen as a leader in this industry.
Your sales and marketing teams have discussed this type of product with a few of your strategic customers; while some are interested, there are many questions about the business.
• 1. Determine why this project might be implemented (e.g. feasibility study, breakeven analysis, etc).
• 2. Describe the five phases of a project
• 3. Describe the key deliverables associated with the selected project(s).
Hope you are well.
• 1. Determine why this project might be implemented (e.g. feasibility study, breakeven analysis, etc.).
Try and identify the most productive way to starting and completing the project based on the project scope initiative. In the breakeven analysis concept, the business must evenly have enough to complete the project that leads to future profitability or refrain from progressing due to limited funds to continue. Thus, the breakeven analysis offers way to decipher the winning strategy in conducting the necessary contingencies upfront for determining actual success. Within the case study, the core facts relate towards current expenditures in amount of $450,000and in year 2 profitability is in range of $550,000 that entails breaking even up to the third year.
Keep in mind, the project should reflect ...
The review into the role of a project manager and the project management phases for completing the overall project scope objectives.