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Project Management Recommendation Ops571 W5 Essay

915 words - 4 pages

Project Management Recommendation
September 21, 2014

Project Management Recommendation
Dear Mr. Gritsch,
In continuation of your email dated September 15, 2014, the team has completed an analysis of the three projects: Juniper, Palomino and Stargazer. The risk levels in Juniper, Palomino, and Stargazer are low, medium, and high respectively. It is in the best interest of Piper Industries Corporation to move forward with the Stargazer project. As noted by you the selected project should generate revenue within 12 months of next week’s PMO Review, and that we should also consider the degree of risk involved with on-time completion, the critical path requirement and cost and, ...view middle of the document...

Likewise, we have considered only the estimated Stargazer project’s product cost to bring it to the market excluding the R & D cost which is already been invested.
Estimated Cost: $575,000 R&D cost: $450,000 already invested
Return on Investment (ROI): 278% or $1,600,000 for a period of 3 years
Length of project: 7 Years
Break-even: 1.5 years (R&D cost not included in the calculation)
Risk of completion on time: High
Overall benefit: Research & Development of a new product, market leader, project in-progress

Five Phases of a Project
A project can have any number of phases depending on how you break it down. A project for land reclamation in dump site would probably have three phases such as: facility decommissioning phase, waste removal phase and, landscaping Phase.
While a project involving the building of a new factory may contain four phases such as: environmental impact assessment Phase, design phase, construction phase and, commissioning phase.
It is therefore assumed that what is been referred to here as five phases of a project is what is known in project management as process groups. As stated in ‘Insight Project (2014), the following phases / process groups will be used to complete the project:
1. Project conception and initiation; the conception of the project is that the project is a new line widget product including research and development. The initiation of this project is upon the approval of the project by the CEO.
2. Project definition and planning; definition will include defining scope and desired outcomes and whether it will meet time, money, scope constraints. Stage two is making the project plan. The project plan will be completed by the project team with...

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