Project management email Essay

Our team has done the required analytic thinking based on the information that was wedded to us. We would like to recommend the Piper Industries Corp. to pursue with the come across Palomino for future investments. We arrived at this conclusion based on the risk of exposures involved, feasibility study, check off even analysis and return on the investment studies. It has been stated as a prerequisite that the expulsion has to be sexed and it should start generating revenue at bottom the close 12 months. Below you will find a detail commentary of the different strains of a project and then an analysis on totally three projects, followed by our recommendation.Phases of a projectFrom the start to finish a project can be divided into atomic number 23 different phases (http//www.projectinsight.net/project-management-basics/basic-project-management-phases). work out conception and initiationThe purpose of this phase is to define the project accomplishments. This is a critical phase as it is essential for those who will deliver the reapingion/service, for those who will use the product/service, and for those who have 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 humor of the project is analyzed to see how beneficial it is to the argumentation.Project definition and prepThis phase defines the project scope and its activities. It outlines the tasks that have to be performed to fare the project. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources ar needed (http//www.projectinsight.net/project-management-basics/basic-project-management-phases).Project launch or executionDuring 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. Th ere will be a daily interaction between the team members, to successfully finish the execution tasks.Project performance and wangleProgression of the project is mensural during this phase. The current status of the project will be compared with the actual plan. orbital cavity verification and control to check and monitor for scope creep, change control to track and manage changes to project emergency, calculating key performance indicators for comprise 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 client approves the project. The project team evaluates success or mishap of the project and documents key learnings, to implement in future projects. This phase also involves in relieving project resources, reward and recogniz es team members and formal margin 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 assessmentBased on the risk of completion assessment, raetam has the lowest impact, Stargazer the highest and Palomino has the medium risk of goal the project on time. The critical path is known in some(prenominal)(prenominal) Juniper and Palomino, whereas there is no indication of critical path in Stargazer. The notes also say that there are still open 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 society to choose either Palomino or Juniper. language Dates based on the assumption that the project starts on January 1st 2015 Juniper June 31st 2015Palomino Sep tember 31st 2015Stargazer UnknownROI assessment and break even analysisFor Juniper the return on investment is $250,000 yearly for the next two to three years, which could provide $500,000 to $750,000. The apostrophize of doing the project is $325,000. So the project breakeven gratuity 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 guerrilla year and $750,000 the third year). There is no information on the ROI for the ataraxis 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 lif ecycleJunipers 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 profit if it chooses Stargazer or Palomino.Feasibility AnalysisA feasibility assessment is the disciplined and documented process of thinking through with(predicate) an idea from its logical beginning 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 involv ed 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 to a greater extent feasible and profitable than the other two.