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In response it is to your previous Email with the attention of the projects of Juniper, Palomino and Stargazer. The team is discovered and examined the 3 tasks, assessed the threat that each job contains as well as returns on financial investment (ROI). There are many elements one need to think over when carrying out a financial investment choice. These may include the hypothesis of underlying the possible advantages and the ability to compute and quantify the costs and benefits. However, the group concluded Stargazer Job in the best choice comparing to other two jobs.
The logic behind for not choosing the other 2 projects is that juniper's risk of conclusion of the job on time is low. While is Palomino not valued at with the medium danger of conclusion and the unpredictability of the expenses of the products. The procedure utilized for reaching the choice was by making use of the expediency study. In addition to that, the expediency research study was based upon the information observed the group during the preliminary stage of the project.
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This will define and sum up the findings of these projects in such a way that supports sound choice making.
The reason of introducing the expediency study is to offer reputable analysis for the task that will make sense to the company in general. Additionally, it will answer numerous important concerns concerning of the task these may consist of length of the project, benefits and threats and Return on investment (ROI) to Piper Industries. Introducing the feasibility study for both Juniper and Palomino projects, materials introduced would not provide similar to the Stargazer model.
Although is Stargazer brings the highest danger comparing the other projects. The group thinks bases on the analysis that it offers accommodation for the project to carry out high-risk, high- benefit. After the actual danger of the project has been acknowledged, the task group estimates the risk based upon the possibility that might likely take place, and the possible loss related with the task.
To mitigate the risk the team will search an alternative to reduce the operating costs as its forecasted the derivative product will cost more. The fundamental decision of the big- picture is what mix of projects is best for the organization. A company must have the right mix of the projects that extremely assists the company's strategy. This can be aligned Stargazer model because of the research and the development previously started for the new widgets as well the significant changes that will provide modern markets. (Jacobs & Chase, 2011).
Break- Even Analysis
Break - even analysis helps to provide reliable information between sales and profits as well as the costs. It also contributes an analysis the amount of success of the project must achieve. Finally, the approach presents to organizations a benchmark to compare a process or a project to what level of operating leverage will create better profits. However, comparing the projects' Stargazer is the most likely project that will create the highest revenue. (Jacobs & Chase, 2011)
The five phases of project planning
A project is a set of activities that normally coordinate toward some major output and planned considerable period of time to carry out. In the meantime, project management is described as planning, directing, and controlling resources, which are the people, equipment and the material in order to meet the technical, cost and the limitations of the project. (Jacobs & Chase, 2011), There are five distinctive phases in project management that imply the stargazer model. First-Phase is the Project Conception and Initiation. The focal point of this phase is to secure the project that it is demonstrated into practical and will benefit the Piper Industries Corp. Second phase is project definition and planning. During this phase, the extent of the project will require an outline so the work which has to be performed is attainable. These may include activities that arrange budgets and timelines. Furthermore, planning incorporates the creation of clear and precise objectives defines the work activities that have to be done in order achieve the planned objective. The purpose may necessitate the achievement of a condition that varies from the present one.
Third Phase is the project execution. In this phase, the team must start executing the project against their assigned responsibilities. This phase is where every team member will start the task. It will coordinate the team and the resource to execute the different tasks of the project. Fourth Phase is the project controlling and Monitoring. In this phase of controlling the project manager must start monitoring the situation closely in order to make sure that the tasks are moving as it is planned. There are several ways to control the project this may involve a check - ins with team and more official weekly meeting, together with organized daily stand -ups are considered productive. (Jacobs & Chase, 2011)
Project close
when all the tasks of the project are approved the firm. The project is officially closed. The manager of the project must organize all the necessary information for future reference. Key Deliverables
The Stargazer project is based on the content in order to meet clear deliverable in a matter for the firm to be successful and to consider the project beneficial. Researching and developing new widget and delivering such an innovative product to the market will help in the long-term strategy.
References
Chase, R. (2011). Operations and supply chain management (13th ed.). Boston, MA McGraw – Hill Irwin .. Jacobs, F. R., & Chase, R. (2011). Operations and supply management (13th ed.). Boston, MA: McGraw-Hill Irwin Project Management Recommendation Email [Multimedia]. Retrieved from University of Phoenix, OPS/571 Operations Management website.
Project Management Recommendation. (2016, May 19). Retrieved from https://studymoose.com/project-management-recommendation-2-essay
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