'Project Management Recommendation Essay\r'

' beloved Mr. Gritsch:\r\nIn continuation of your email dated February 10, 2014, I take for completed analysis of three cyphers: retem, Palomino and uranologist. The fortune levels in Juniper, Palomino, and Stargazer are low, medium, and high respectively. It is in the best interest of Piper Industries Corporation to carry forward with the Stargazer hurl.\r\nStargazer is selected due to its feasibleness and risk level. From market feasibility study, some strategical customers shake already indicated interest in the product. Therefore, I would recommend that the board invest in the shed, Stargazer; particularly because the company has already invested $450,000 and the ROI is very high.\r\nMy feasibility study focused on Return on enthronement (ROI), length of take to, risk level and over either expediency to Piper Industries. See below for the results.\r\nJuniper:\r\nReturn on Investment (ROI): 77% or $250,000 for a period of 2 to 3 age continuance of stick out:\r\nUn certain\r\n riskiness of extent on time:\r\nLow\r\n overall realize: Enhancement of current product, increased product conduct Palomino:\r\nReturn on Investment (ROI): 69% or $450,000 for a period of 5 years Length of construe: 7 Years\r\nRisk of climax on time:\r\nMedium\r\nOverall benefit: New product, use of existing technology, custom part, aeonian demand Stargazer:\r\nReturn on Investment (ROI): 278% or $1,600,000 for a period of 3 years Length of pouch:\r\n7 Years\r\nRisk of period on time:\r\nHigh\r\nOverall benefit: Research & Development of a new product, market leader, project in-progress\r\nFive casts of a intention:\r\nA project can have any number of phases depending on how you break it down. A project for land reclamation in tinkers damn site would probably have three phases such(prenominal) as:\r\n1. Facility Decommissioning Phase\r\n2. Waste removal phase\r\n3. Landscaping Phase.\r\nWhile a project involving the building of a new factory whitethorn c ontain four phases such as:\r\n1. environmental Impact Assessment Phase\r\n2. Design Phase\r\n3. Construction Phase\r\n4. Commissioning Phase.\r\nIt is therefore expect that what is been referred to here as five phases of a project is what is known in project management as process groups. The following phases / process groups give be used to complete the project:\r\n1. Project predilection and initiation\r\nThe conception of the project is that the project is a new line widget product including enhancements by dint of the use of existing technology. The initiation of this project lead be upon the approval of the project by the CEO.\r\n2. Project definition and contrivening\r\nStage two of the project is making a project plan. The project plan will be completed by the project team with the consultation of the technicians and experts. The project plan will be in writing and will be well defined.\r\n3. Project launch or proceeding\r\nThe project plans and task will be discussed amongst all team members and the task will be change integrity among the project team.\r\n4. Project carrying out and control\r\nThe project manager will be the leader of the project. His or her task will be to monitor performance and control. All project team members are answerable in evaluating each other and helping the team to perform better together.\r\n5. Project close\r\nThe project will be closed only upon completion of the project, evaluation of the project, and client approval of the project. Key carryables associated with the selected project:\r\nIf after the Estimated Budget at Completion of $575,000 is fagged and the product is developed as specified in the project plan, then the project would have met the solid product deliverable. Secondly, if the Piper Industries Corporation is able to deliver the product within 12 months, the company would have met the project schedule deliverable.\r\n'