Project Management Recommendation Essay

In response it is to your previous E-mail with the attention of the envisions of Juniper, Palomino and Stargazer. The squad is lay out and analyzed the three protrusions, assessed the risk that each project contains as good as returns on investment (ROI). There ar many aspects wiz should think over when performing an investment decision. These may include the guess of underlying the potential benefits and the ability to calculate and quantify the personifys and benefits. However, the team concluded Stargazer Project in the best option comp are to new(prenominal) 2 projects. The logic behind for non selecting the other two projects is that junipers risk of extremity of the project on metre is low. While is Palomino not valued at with the medium risk of completion and the uncertainty of the costs of the products. The procedure used for reaching the decision was by utilizing the feasibility study. In addition to that, the feasibility study was ground on the information o bserved the team during the initial stage of the project. This exit pose and summarize the findings of these projects in a way that supports sound decision making.The origin of introducing the feasibility study is to pull up stakes reliable analysis for the project that allow foring make sense to the confederacy in general. Further much, it will answer several(prenominal) 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 both Juniper and Palomino projects, materials 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 returns accommodation for the project to perform high-risk, high- reward. after(prenominal) the actual risk of the project has been acknowledged, the project team estimates the risk based on the probability that may likelyhappen, and the possible loss relate with the project.To mitigate the risk the team will search an alternative to sheer 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 essential 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 discipline previously started for the new widgets as hygienic the significant changes that will provide modern trades. (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 amount of success of the project must pass. Finally, the approach presents to organizations a benchmark to compare a process or a project to what level of operating leverage will give rise better profits. However, comparing the projects Stargazer is the most likely project that will create the highest revenue. (Jacobs & Chase, 2011)The five phases of project planningA project is a set of activities that normally coordinate toward some major output and intend considerable period of time to carry out. In the meantime, project caution is described as planning, directing, and affirmling mental imagerys, which are the people, equipment and the material in vagabond 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 central 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 tip of the project will require an outline so the work which has to be performed is attainable. These may include activities that arrange budgets and timelines. Furthermore, planning incorporates the creation of clear and exact objectives defines the workactivities that have to be done in order achieve the planned objective. The purpose may necessitate the achievement of a teach that varies from the present one.Third 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 execute the different tasks of the project. Fourth Phase is the project controlling and Monitoring. In this phase of controlling the project manager must start observe 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 involve a check ins with team and more official weekly meeting, together with organized daily stand -ups are considered productive. (Jacobs & Chase, 2011)Project closewhen all the tasks of the project are approved the firm. The project is officially closed. The manager of the project must organize all the requisite 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 an innovative product to the market will help in the long-term strategy.ReferencesChase, R. (2011). Operations and supply reach 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 Recommendation Email Multimedia. Retrieved from University of Phoenix, OPS/571 Operations Management website.