Project Management Email Essay

In response to your email, our team has analyzed each ascertain. In your email, you stated that the selected regorge should generate revenue at heart 12 calendar month of next weeks PMO Review. You as well as stated that we should also number the degree of risk involved with on- quantify completion, the precise grade requirement and cost, and the useful deportment cycle and forecasted ROI. In order to make a recommendation, we took into bankers bill the mountain chain of each foresee and whether it result meet the desired outcome, within your desired constraints.PROJECT JUNIPERThe critical path for objectify juniper would be six months, which would be October 2015. The costs associated with this labor would be less(prenominal)(prenominal) than the others, $325,000 however, the potential revenue is only $250,000. In addition, its break-even point is slightly less than three years, with a forecasted life cycle of only 2-3 years.PROJECT PALOMINOThe critical path for Proj ect Palomino would be nine months, which would be January 2016. The costs associated with this propose would be $655,000, with revenues as low as $450,000. However, development a 5% margin of error, this could be more profitable with its break-even point of seven years. The edit we be worried about is that this would also be the end of the take ins life of seven years.PROJECT STARGAZERThe critical path for Project Stargazer would be ten months, which would be February 2016. The costs associated with this project would be $575,000. The break-even point is one and a half years, with a seven-year life cycle. In addition, the company has already started on the research of the widgets, completelyowing the company a faster start up time, which will fit into the 12-month timeframe given. Even though the risks may be higher, thetechnology of this project will help demoralize the risk, as well as the ability to increase price using skimming price strategy. This project is innovative a nd can have versatile modifications, which will enable the company to satisfy a larger guest base. Our team recommends Piper Industries to accept Project Stargazer.FIVE PHASES1. Concept organic evolution/Project Conception Data of customers needs will be collected, competition will be identified, and the idea for a project will be carefully examined to fit whether or not it benefits the organization. During this phase, feasibility, risk, and ease up on investment will be analyzed. The project is already at this stage, with the research and the costs being well documented. 2. Project Planning This gradation is the most important step. The team will decide on a budget, set timelines, and draw available resources, materials, and expertise to ensure on-time delivery, clarify roles and responsibilities, and identify roadblocks. A project conception, project charter and/or project scope may be put in writing, which will outline the march to be performed. The team will prioritiz e, calculate a budget and schedule, and determine what resources are needed.3. Project Execution The project manager clarifies roles and responsibilities, timelines, and individual deadlines. at that place is constant communication to ensure tasks are completed on time and to specification. For this project, execution will take place 12 months after the PMO meeting. 4. Project Performance and Control The project manager monitors timeline, plan, and team performance. They will also conduct review meetings and periodic project performance reports to review the budget.The project managers will also compare the status of the project to the actual plan to keep the project on schedule. If there are key constraints affect project success, the necessary adjustments will be made. This step is necessary to ameliorate quality, delivery time and the launch timings for market capture. 5. Project Close This is the last(a) phase of the project. Project tasks are completed and the client has approved the outcome. An evaluation can be done at this point, along with closing all contracts and settling all bills. Documentation can be used for hereafter projects. The project team is released.KEY DELIVERABLESAside from the dates and costs mention about, the project team decided on five key deliverables for Project Stargazer. They are as follows 1. To launch the new line of widgets quickly, infiltrating into an existing competitive market. 2. annex revenues, utilizing modifications and increasing sales during the maturity stage. 3. The team will provide mathematical product testing and analysis, meeting client requirements 4. In order to gain and/or retain reluctant customers, increase the product lifestyle and hold as a market leader. 5. Use customization to highlight the flexibility of the widget and asseverate new products.REFERENCESJacobs, F.R., & Chase, R. (2011). Operations and supply chain management (13th ed.). New York, NY McGraw-Hill Irwin. Nestor-Harper, M. (n .d.). Tasks in the Five Phases of Project Management Chron.com. Retrieved April 24, 2014, from http//smallbusiness.chron.com/tasks-five-phases-project-management-52690.html