Project Management Email Individual Paper Essay

With the available information from the preceding(prenominal) telecommunicate regarding the supports of Juniper, Palomino and uranologist, I feel it is in the companys high hat affaire to go with the Palomino purpose moving forward. The reason for not selecting the otherwise two options is because Juniper carries too low of a find for closure. uranologist is not worth the high risk of completion and the unfamiliarity of how the lowest reaping give be with the customer.The method applied for making this purpose was by utilizing the feasibility study. The main purpose of this is because using this fancy would stomach to make sense to the company as a whole. Answering tout ensemble of the questions on renovation On Investment (ROI), length of project, risk and general advance to Piper Industries. Using the feasibility study for the Juniper and lotus-eater projects, it was a basic understanding that previously mentioned material would not be present as with the Palo mino model.There be five different physiques in project management that involve thePalomino project and those are (Jacobs & Chase 2011) r finisher idealion and initiation The main focus of this phase is to ensure the project world presented is realistic and will benefit the company. suffer definition and planning The scope of the project will need an outline so the model which needs to be performed is available. Prioritizing, budgets and timelines are in this phase as well. stick out launch or execution Tasks are assigned and each aggroup is made aware of their responsibilities. intercommunicate performance and control The status and gain will be checked against the actual plan to ensure everything is cartroad smoothly. The project manager will make adjustments as need to suffer the original project on sucker. digest close Once every tasks are complete and the customer is content with the final ware, a lesson make plan will need to be establishedContentProject Ma nagement Recommendation Name Institution Date Dear spear I duly received your netmail and we reviewed the ternary projects with my squad. After decisive compendium the board felt that the second project on your email (Palomino) was the best project for dedicatement. The risk for completion is average therefore, it does not plant the company at a high risk of losing Dear Mr. Gritsch,Our team wants to thank Piper Industries Corporate vice-president, Wendell Deirelein, for choosing our team to crush the projects. In the devoted document you will find our analysis and cheeration of the Project proffer that benefits your company.Thank you,Project ManagerProject Management RecommendationProject to be ImplementedPiper Industries needs a completed project and for it to be generating review within 12 months of the Project Management Offices (PMO) review (University of Phoenix, 2012). The project that fits the companysrequirements is the astronomer project. The Stargazer project is efficient and the expectation of the project being completed on time is high. The research and development has already started on the stratagems (University of Phoenix, 2012).According to the project descriptions, $450,000 has been spent on the product and they average a total of $575,000 being spent in order to bring the product to the foodstuff (University of Phoenix, 2012). Even though the dollar amount spent in this project is high, the return on giftment for this project is high by the thirdly year the product is forecasted to stomach a return of investments of $750,000 (University of Phoenix, 2012). The product brio of this project is forecasted to be 7 years (University of Phoenix, 2012).This product is passive not being used, meaning Piper Industries will be the graduation exercise company to launch the product to the market. By bringing such an innovational product into the marketplace, it can make Piper Industries the leader in the assiduity (University of Phoen ix, 2012).Five PhasesAccording to Stricker (2013), Whether a project is large or sm whole, the stages of a project are ultimately the same. Initiate the project, and then blend in into planning, followed by execution.Project Management RecommendationPiper Industries Corp. wants to make a decision on the appropriate project to invest in base on tercet barrackations. First, Juniper is an enhancement of a contemporary twist being offered by the company, while Palomino is a fresh line of widget products including enhancements using existing applied science, and Stargazer is a merchandise of completely new widgets, which research and development support already started on. The company assigned our team to analyze the three projects and make recommendations on which project the company should invest in. The recommendation mustiness include our description of the five phases of the project and the bring up deliverables (project completion date and cost) for each project (Univers ity of Phoenix, 2013).The Project Recommendation ground on the break-even analysis for the Juniper project it basically shows the company will not, or barely break-even, during the life cycle of the production of these widgets imputable to technology advancements causing this product line to become obsolete after three years? It has a cost of $325,000 and Return on Investment wholly producing $250,000 for the two to three years of production with the third year being the end of life for this product.If the company chooses the Palomino project it will also deport a hard time breaking-even and producing revenue streams oer the life-time of the production with a 5% margin of error with the seventh year being the end of life for the product. The strength of the economy plays a large determining work out in this forecast due to 5% differential in the life cycle of this product. Palomino will cost $655,000 with the Return of Investment being $450,000 over a five year period with that 5 %, plus or minus, margin of error. Profit would then start to be recognized in the sixth and seventh year of the life cyThank you for choosing our team to analyze the three projects your company has proposed. After meeting with my team and analyzing the data of the three projects, we have to come to an agreement that the project your company should invest in is the Juniper project. Since your company is currently nearwhat familiar with the product gnarled in this project, it will be more efficient and cost trenchant to continue the enhancement of this product. There are five phases of the project that must take place in order for the project to be a success. The first phase is the planning phase which includes a product applause and launch of the actual product development process. This also includes a committee statement that includes the target market of the product, business goals, key assumptions and constraints.The second phase is concept development. This phase is focuse d more on the needs of the target market, alternative product concepts which will need further examination and development. The concept is key in this phase because it describes the form, function and features of the product that are accompanied by a set of specifications and an economic justification for the project (Jacobs, pg. 74). The third phase is design detail which entails the specific parts of the product and all standard parts that are neededfrom the supplier.This process also includes drawings and computer files that describe the geometry of each tool, purchased parts and process plans. The fourth phase is testing and refinement. This phase is includes construction and evaluation of multiple versions of the preproduction of the product. This is the time when we would be prototypes in order to determine if the product satisfies customer needs. The final phase is the production ramp-up. The product is made of intended production system. The purpose of the ramp-up is to ge t the work force trained and to work out a remaining issues that may prink during the process such as Dear Mr. GritschIn continuation of your email dated February 10, 2014, I have completed analysis of three projects Juniper, Palomino and Stargazer. The risk takes in Juniper, Palomino, and Stargazer are low, medium, and high respectively. It is in the best sideline of Piper Industries Corporation to move forward with the Stargazer project.Stargazer is selected due to its feasibility and risk level. From market feasibility study, some strategic customers have already indicated interest in the product. Therefore, I would recommend that the board invest in the project, Stargazer in particular because the company has already invested $450,000 and the ROI is very high.In continuation of your email dated February 10, 2014, I have completed analysis of three projects Juniper, Palomino and Stargazer. The risk levels in Juniper, Palomino, and Stargazer are low, medium, and high respectiv ely. It is in the best interest of Piper Industries Corporation to move forward with the Stargazer project.Stargazer is selected due to its feasibility and risk level. From market feasibility study, some strategic customers have already indicated interest in the product. Therefore, I would recommend that the board invest in the project, Stargazer particularly because the company has already invested $450,000 and the ROI is very high.In continuation of your email dated February 10, 2014, I have completed analysis of 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.Stargazer is selected due to its feasibility and risk level. From market feasibility study, some strategic customers have already indicated interest in the product. Therefore, I would recommend that the board invest in the project, St argazer particularly because the company has already invested $450,000 and the ROI is very high.Stargazer is selected due to its feasibility and risk level. From market feasibility study, some strategic customers have already indicated interest in the product. Therefore, I would recommend that the board invest in the project, Stargazer particularly because the company has already invested $450,000 and the ROI is very high.My feasibility study focused on Return on Investment (ROI), length of project, risk level and overall benefit to Piper Industries. See below for the results. JuniperReturn on Investment (ROI) 77% or $250,000 for a period of 2 to 3 years Length of project UncertainRisk of completion on time LowOverall benefit Enhancement of current product, increased product demand PalominoReturn on Investment (ROI) 69% or $450,000 for a period of 5 years Length of project 7 long timeRisk of completion on time sensitiveOverall benefit New product, use of existing technology, custom part, unvaried demand StargazerReturn on Investment (ROI) 278% or $1,600,000 for a period of 3 years Length of project 7 YearsRisk of completion on time HighOverall benefit Research & Development of a new product, market leader, project recommend that the board invest in the project, Stargazer particularly because the company has partJacobs, F. R. & Chase, R. (2011). Operations and Supply Chain Management (13th ed.) Boston, MA McGraw-Hill Irwin.