Project Management Rec
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Project Management RecommendationJennifer MaldonadoOPS/571August 10, 2015Dr. Michael MarticekProject Management RecommendationAugust 10, 2015RE: Piper Industries RecommendationDear Mr. Gritsch- I want to begin by thanking you for reaching out in regards to your firm Piper Industries Corporation and next weeks meeting with Project Management Office (PMO. We are very excited to present you with our proposal, and as you reiterate the projects suggested need to be completed in a timely fashion, 12 months. We have assessed, analyzed, done our due diligence in selecting a project(s) that will meet the needs of your company, and also meeting the time requirements. Our recommendations are based on studies performed by our team of experts. The following section of this email will outline: the technical, operational, financials for the recommended project. The final portion of the email will break down the five phases required to complete the recommended project. Our recommendation for Piper is to go on ahead with Projects Juniper and Stargazer. Project Juniper After careful analysis, we suggest that your firm go with Project Juniper. Of all there scenarios, Project Juniper- requires the least amount of capital to invest. Our financial analyst calculate that you will be to recoup your investment and make profit in a short 6 months, after the initial start date, your firm could make $325,000. Jupiter is a standard product line that will produce about $250,000 in revenue for a period of 2-3 years. We also looked into the operational practicability when it comes to implementing Juniper, only minor changes will need to be applied to the current production design in order to improve the current widget. In terms of the technical feasibility of Juniper is not so difficult because it is an enhancement of the existing widget. That aligns with the scheduling, which looks good and falls within that 12-month time frame, in order to begin bringing in revenue. In short- we endorse Project Juniper for your firm. Project Stargazer We have also assessed Project Stargazer and deduced that there are quite a bit of sunk costs, as we can see from the data you provided These sunk costs will limit funds needed in the production process to bring the widget to market (Garcia, 2015). In the third year and post years, the projection of this product is forecasted to bring significant ROI to Piper Industries. With the technical aspect it will give you an innovative edge, and will allow for the company continue to develop byproducts off the initial product, which will allow for more revenue in the future. In regards to the technical and operational feasibility—Project Stargazer will give your firm an innovative product, allowing for PMO to become an industry leader and gain competitive advantage. However- time is a factor to consider with Stargazer, because of the high probability of not completing the product on time.
As with any new project implementation there are variables and key deliverables that need to be met. Ensuring that ultimate goal and that the project is completed, we suggest performing each phase listed below. The five phases of a new project are: initiation, planning, execution, monitoring and control, and project closure (Pathak, 2014). Phase 1: Initiation Phase 1- is where the project is imitated, during this phase measurable; objectives, and overall goals will be set. A project manager will be chosen to run the entire execution of both projects. During initiation phase, all pertinent stakeholders will evaluate the all the data and truly assesses the profitability and feasibility of the project. During this phase as you have done with our team, feasibility tests are performed to gather as much information as possible on the projects. This phase is ultimately where the project is pushed forwarded or annulled. The project implementation will occur after next weeks PMO meeting. Phase 2: Planning After next weeks meeting, the projects will go into the second phase, the Planning Phase. During this phase, team members are chosen, and creating the central team for each project. The Planning Phase is so important in creating complete progress schedules. This is where the measurable indicators will be laid out for the team and also for the stakeholders. During this phase risk assessment needs to be preformed, and contingency plans will also set fourth. However, the most important parts of this phase are: setting the team up, setting the progress schedules, and finally risk assessment and contingency.