With the available information from the previous email regarding the projects of Juniper, Palomino and Stargazer, I feel it is in the company’s best interest to go with the Palomino project moving forward - Individual Assignment introduction. The reason for not selecting the other two options is because Juniper carries too low of a risk for completion. Stargazer is not worth the high risk of completion and the unfamiliarity of how the final product will be with the customer.
The method applied for making this decision was by utilizing the feasibility study. The main purpose of this is because using this project would have to make sense to the company as a whole. Answering all of the questions on Return On Investment (ROI), length of project, risk and overall benefit to Piper Industries. Using the feasibility study for the Juniper and Stargazer projects, it was a basic understanding that previously mentioned material would not be present as with the Palomino model.
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There are five different phases in project management that involve the Palomino project and those are (Jacobs & Chase 2011): •Project conception and initiation
The main focus of this phase is to ensure the project being presented is realistic and will benefit the company. •Project definition and planning
The scope of the project will need an outline so the work which needs to be performed is available. Prioritizing, budgets and timelines are in this phase as well. •Project launch or execution
Tasks are assigned and each team is made aware of their responsibilities. •Project performance and control
The status and progress will be checked against the actual plan to ensure everything is running smoothly. The project manager will make adjustments as need to keep the original project on target. •Project close
Once all tasks are complete and the customer is content with the final product, a lesson learn plan will need to be established in the form of an evaluation to see what went good and where improvements will be needed in future projects.
The Palomino project, in order to successful, will have to meet clear deliverables in order for the organization to deem the project beneficial. Introducing a new line of widget products including enhancements using existing technology will greatly assist the company in the long term but allowing capital to be invested in other areas while reaping the ROI from the Palomino project.