There were three project proposals that needed to be considered for review as Project Manager, which consists of Juniper, Palomino, and Stargazer. Piper Industries needed the Project Manager to select one of the proposals that had the ability to generate revenue in the next 12 months. The first proposal was Juniper, which wanted to enhance a current widget that was being offered by Piper Industries. The risk of completion for Juniper was low, which is not very promising and unfamiliar. Juniper would be expected to be on the market within 6 months at a cost of $325,000, but only have a return of investment (ROI) of $250,000 for only 2 to 3 years. Juniper is only expected to last for three years. Another proposal, Stargazer was recommended,
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A widget is basically a mechanical device or a gadget. Since we live in a technological world, this is a product that will have a lot of opportunity to sell. The risk for completion is medium. Completion time is very important because we need to start generating revenue within 12 months. Juniper had a low completion time, which isn’t a risk that the company would want to take and although Stargazer has a high completion time, the investment return could possibly be low. The production plan shows that in order to bring the Palomino plan to the market it would cost $655.00, but the (ROI) for a period of 5 years would be $450,000 dollars. The ROI shows that Piper Industries will get their investment back within 2 years, which as Project Manager is a good thing for Piper Industries. Palomino will have a 5% margin of error, which means that there is only a 5% chance that the circumstances can change such as the ROI amongst other things. The seventh year is the projected possibility when customers will not be able to use Palomino anymore, which will help customers analyze and make the conscious decision if they want to purchase the product or …show more content…
It is the responsibility of the Project Manager to come up with the necessary steps to complete the project from beginning to end. Through these steps, it will be known when the completion time will be. If the Project Manager decided that the completion time would be 12 months, but at the 9th month the project isn’t even halfway done, then we the manager will know that there will be some steps that needs to be tweaked and changed. Ultimately, the Project Manager will need to conduct a feasibility study, which can help Piper Industries come to the conclusion if the project, Palomino is even worth taking on. Within this study every avenue taken should answer the question if Palomino is worth it? and by doing this, there will be less disappointment in the
A widget is basically a mechanical device or a gadget. Since we live in a technological world, this is a product that will have a lot of opportunity to sell. The risk for completion is medium. Completion time is very important because we need to start generating revenue within 12 months. Juniper had a low completion time, which isn’t a risk that the company would want to take and although Stargazer has a high completion time, the investment return could possibly be low. The production plan shows that in order to bring the Palomino plan to the market it would cost $655.00, but the (ROI) for a period of 5 years would be $450,000 dollars. The ROI shows that Piper Industries will get their investment back within 2 years, which as Project Manager is a good thing for Piper Industries. Palomino will have a 5% margin of error, which means that there is only a 5% chance that the circumstances can change such as the ROI amongst other things. The seventh year is the projected possibility when customers will not be able to use Palomino anymore, which will help customers analyze and make the conscious decision if they want to purchase the product or …show more content…
It is the responsibility of the Project Manager to come up with the necessary steps to complete the project from beginning to end. Through these steps, it will be known when the completion time will be. If the Project Manager decided that the completion time would be 12 months, but at the 9th month the project isn’t even halfway done, then we the manager will know that there will be some steps that needs to be tweaked and changed. Ultimately, the Project Manager will need to conduct a feasibility study, which can help Piper Industries come to the conclusion if the project, Palomino is even worth taking on. Within this study every avenue taken should answer the question if Palomino is worth it? and by doing this, there will be less disappointment in the