Project management email Essay

Our team has make the required compend based on the information that was given to us. We would like to recommend the Piper Industries Corp. to quest for with the intent Palomino for future investments. We arrived at this conclusion based on the risks involved, feasibility study, break even out analysis and double back on the investment studies. It has been stated as a requirement that the bug out has to be terminate and it should start generating revenue within the next 12 months. Below you get out find a head description of the different phases of a project and then an analysis on all three projects, followed by our recommendation.Phases of a projectFrom the start to finish a project can be divided into louvre different phases (http//www.projectinsight.net/project-management-basics/basic-project-management-phases).Project conception and initiationThe purpose of this phase is to define the project accomplishments. This is a small phase as it is essential for those who wil l deliver the crop/service, for those who will use the merchandise/service, and for those who dumbfound a stake in the project to reach agreement on its initiation (http//pmstats.dis.arkansas.gov/Meth/05-Initiation%20phase.pdf). During this phase, the idea of the project is analyzed to see how beneficial it is to the business.Project definition and planningThis phase defines the project context and its activities. It outlines the tasks that have to be performed to complete the project. During this phase, a team should prioritize the project, calculate a budget and schedule, and watch over what resources are needed (http//www.projectinsight.net/project-management-basics/basic-project-management-phases).Project launch or capital punishmentDuring this phase, the defined project activities are started to be executed. The project manager moves his attention from planning to execution. A constant monitoring of project risks is required during this phase. in that location will be a daily interaction between the team members, to successfully finish the execution tasks.Project performance and coverProgression of the project is heartbeatd during this phase. The current status of the project will be compared with the actual plan. Scope verification and control to check and monitor for scope creep, change control to track and manage changes to project requirement, calculating key performance indicators for cost and time are to measure the degree of variation if any and in which case corrective measures are determined and suggested to keep project on track (http//project-management.com/top-5-project-management-phases/).Project closureDuring this phase the project tasks are satisfactorily completed and tested, the lymph node approves the project. The project team evaluates success or failure of the project and documents key learnings, to implement in future projects. This phase also involves in relieving project resources, reward and recognizes team members and f ormal termination of contractors in case they were employed on the project (http//project-management.com/top-5-project-management-phases/).Analysis of the proposed projectRisk of project completion sound judgement base on the risk of completion assessment, Juniper has the lowest impact, Stargazer the highest and Palomino has the medium risk of close the project on time. The critical path is known in both Juniper and Palomino, whereas there is no indication of critical path in Stargazer. The notes also say that there are still ease up questions from the business on Stargazer, which increases the risk of completing the project on time. The basic requirement from the management is that the project should be completed and generating revenue in 12 months. On this basis, it is better for the company to choose both Palomino or Juniper. Delivery Dates based on the assumption that the project starts on January 1st 2015 Juniper June thirty-first 2015Palomino September 31st 2015Stargazer UnknownROI assessment and break even analysisFor Juniper the return on investment is $250,000 socio-economic classly for the next two to three years, which could provide $500,000 to $750,000. The cost of doing the project is $325,000. So the project breakeven point is within 2 years. For Palomino, the ROI is $450,000 yearly for the next five years, which will result in $2,250,000. The cost of doing this project is $655,000.Even with the 5% margin of error, the breakeven for this project is within 2 years. For Stargazer, the ROI is, $1,600,000 ($300,000 first year $550,000 the second year and $750,000 the third year). There is no information on the ROI for the rest of the years. So there is an unknown factor involved in this project. The cost of this project is $1,025,000 ($450,000 + $575,000). The breakeven for this project is within 3 years. Based on this assessment, the breakeven point is lesser if the company pursues Juniper or Palomino.Product lifecycleJunipers product has only 3 years of life cycle, while both Stargazer and Palomino has 7 years of product life. Based on this assessment, the company will internet if it chooses Stargazer or Palomino.Feasibility AnalysisA feasibility assessment is the disciplined and documented process of thinking through an idea from its logical ancestry to its logical end (http//www.agmrc.org/business_development/starting_a_business/marketbusiness_assessment/articles/assessing-the-feasibility-of-businesspropositions/). With Juniper project, the product is feasible, as we can predict the forecasting of its schedule. It starts to generate profit within 12 months. But since the product life span is less, the companys profit ends soon.Stargazer, even though it is an innovative product it is risky and it has unanswered business questions, so it may not be feasible to complete the project on time. Its forecasting variance is very high. Even though a sunk cost of $450,000 is involved in this project, there is no guarantee for the product to start generating returns in 12 months if we pursue this project. In Palomino project, the risk is medium and the critical path is known. Recommendation Even though Palomino has a 5% margin of error from its supplier, we conclude that this project is more feasible and profitable than the some other two.