Project Management Recommendation Essay

In response it is to your previous E-mail with the attention of the objects of Juniper, Palomino and lotus-eater. The team up is be and analyzed the three working classs, assessed the risk that each consider contains as well as returns on investiture (ROI). There are many aspects one should think over when performing an investment decision. These may take on the hypothesis of underlying the potential benefits and the ability to calculate and quantify the costs and benefits. However, the team concluded stargazer Project in the best option comparing to other two childbeds. The logic behind for not selecting the other two throw offs is that junipers risk of completion of the take care on time is low. sequence is Palomino not valued at with the medium risk of completion and the uncertainty of the costs of the products. The procedure utilize for reaching the decision was by utilizing the feasibility study. In addition to that, the feasibility study was based on the informati on observed the team during the initial stage of the device. This will define and summarize the findings of these projects in a way that supports sound decision making.The reason of introducing the feasibility study is to provide true analysis for the project that will make sense to the company in general. Furthermore, it will answer several important questions concerning of the project these may include length of the project, benefits and risks and Return on investment (ROI) to Piper Industries. Introducing the feasibility study for two Juniper and Palomino projects, sensibles introduced would not present as with the Stargazer model. Although is Stargazer carries the highest risk comparing the other projects. The team believes bases on the analysis that it provides accommodation for the project to perform high-risk, high- reward. After the actual risk of the project has been acknowledged, the project team estimates the risk based on the probability that may likelyhappen, and th e possible loss cerebrate with the project.To mitigate the risk the team will search an alternative to reduce the operating costs as its forecasted the derivative product will cost more. The fundamental decision of the big- picture is what mix of projects is best for the organization. A company must have the right mix of the projects that extremely assists the companys strategy. This can be aligned Stargazer model because of the research and the development previously started for the new widgets as well the satisfying changes that will provide modern markets. (Jacobs & Chase, 2011).Break- Even AnalysisBreak even analysis helps to provide reliable information between sales and profits as well as the costs. It also contributes an analysis the do of success of the project must achieve. Finally, the approach presents to organizations a benchmark to compare a process or a project to what level of operating leverage will create better profits. However, comparing the projects Stargazer is the most likely project that will create the highest revenue. (Jacobs & Chase, 2011)The five builds of project planningA project is a set of activities that normally coordinate toward some major output and planned considerable item of time to carry out. In the meantime, project management is described as planning, directing, and controlling resources, which are the people, equipment and the material in monastic order to meet the technical, cost and the limitations of the project. (Jacobs & Chase, 2011), There are five distinctive phases in project management that imply the stargazer model. First-Phase is the Project Conception and Initiation. The focal point of this phase is to secure the project that it is demonstrated into practical and will benefit the Piper Industries Corp. Second phase is project definition and planning. During this phase, the terminus of the project will require an outline so the work which has to be performed is attainable. These may include activitie s that regularize budgets and timelines. Furthermore, planning incorporates the creation of clear and precise objectives defines the workactivities that have to be done in order achieve the planned objective. The purpose may necessitate the achievement of a condition that varies from the present one. 3rd Phase is the project execution. In this phase, the team must start executing the project against their assigned responsibilities. This phase is where every team member will start the task. It will coordinate the team and the resource to carry through the different tasks of the project. Fourth Phase is the project controlling and Monitoring. In this phase of controlling the project tutor must start monitoring the situation closely in order to make sure that the tasks are moving as it is planned. There are several ways to control the project this may touch on a check ins with team and more official weekly meeting, together with organized daily refuse -ups are considered productiv e. (Jacobs & Chase, 2011)Project closewhen all the tasks of the project are approved the firm. The project is officially closed. The carriage of the project must organize all the necessary information for future reference. Key DeliverablesThe Stargazer project is based on the content in order to meet clear deliverable in a matter for the firm to be successful and to consider the project beneficial. Researching and developing new widget and delivering such(prenominal) an innovative product to the market will help in the long-term strategy.ReferencesChase, R. (2011). Operations and supply range of mountains management (13th ed.). Boston, MA McGraw Hill Irwin .. Jacobs, F. R., & Chase, R. (2011). Operations and supply management (13th ed.). Boston, MA McGraw-Hill Irwin Project Management testimony Email Multimedia. Retrieved from University of Phoenix, OPS/571 Operations Management website.