1. Summarize each of the proposed projects using a simple table format suitable for presentation to top management. Include the name of each project, identify how each one supports business strategies, assess the potential financial benefits and other benefits of each project, and provide your initial assessment of the value of each project. Write your results in a one- to two- page memo to top management, including appropriate back-up information and calculations.
|Name of project||How the project supports business strategies||Financial and other benefits||Assessed value of each project|
|Global Treps||· It allows the organizations the ability to create their own custom sites to solicit local participants and investors alike.
· Entrepreneurs can present their ideas in a professional atmosphere which nurtures diverse business ideas.
|Allows investors to donate towards specific schools or organizations that are wishing to host an event.
|Change the Laws Campaign||· This has the potential to promote social responsibility by allowing discussions and ideas on how to potentially change the laws to reduce further income inequality.
|This campaign enables laws to be changed to reduce further income inequality.
|Wealthy Unite||· This encourages the richest people in the world to provide their input on how they can make the world a better place as well as providing information on what some of the wealthiest are doing.
|Allows donations to suggested causes and recommends other ways to reduce inequality||$175,000|
|Global Smart Shoppers||· recommends products and services produced by organizations that promote social responsibility.
· Work with large companies that do not currently sell products or services in certain countries
· Allow small companies to easily add their products and services to the network.
|Expands sales to countries that there were no sales to prior thus expanding the global market.||$200,000|
Both income and resource inequality has become a universal issue that needs to be addressed. In a recent study found that the world’s 80 wealthiest individuals own as much as the entire world’s poorest 3.5 billion people. If we want to reduce the amount of inequality there is in the world than we must find a way to address the equality of our resource distribution. These projects help to address some of the inequality that we currently have, and it helps to reverse course and bring a bit more equality in to our top resources. Global Treps is a project that can be helpful since it is a smaller venue and the exchange of ideas can be assessed by many investors rather than single investors at a time.
By creating non-profit organizations with one central mobile friendly application and website to help groups organize these events would encourage even more entrepreneurs around the world to participate. The change the laws campaign would help by looking at some of the laws and promote healthy discussions about what can be done to effectively promote equality around the world. The campaign wealthy unite will also come up with a system that will help enable some of the richest people in the world to provide different solutions to income inequality as well as donating to suggested causes. Global smart shoppers project will be a project that we will have to develop a mobile app and a website that can recommend products and services around the globe that are produced by organizations that promote equality.
The projects initial values are estimated at being: $125,000+$100,000+$175,000+$200,000= $500,000
2. Evaluate the four projects by preparing a weighted scoring model using the template pro- vided on the companion website for this text. Develop at least four criteria, assign weights to each criterion, assign scores, and then calculate the weighted scores. Print the spreadsheet and bar chart with the results. Also write a one-page paper that describes this weighted scoring model and the results.
The weighted scoring model that I used had six criteria each weighted slightly different: Supports Key Business objectives weighted at 20% since it is important that any project that we do as a company is a project that is supported by our company and follows our morals and guidelines. Has strong customer support and has strong sponsor support both weighted at 15% because it is important that you have both customer as well as sponsor support. Uses realistic levels of technology weighted at 16% because it’s important that the use of technology is adequate for what the projects is. And (Can be implemented in 1 year or less) and (has a low risk to the overall business) weighted at 17% because time and risk are slightly more important when you are talking about projects because you don’t want to pay for a project that may or may not ever end.
The scores to each of the individual criteria are based on a 0-99 scale where 0 is the worst and 99 is the best when you look at the projects they are scored by what I believe to be true along each of the criteria. Projects 1 and 3 support the key business objectives the best as where projects 4 and project 2 do not, the support for project 1 is the highest and projects 2 and 3 are the lowest. Project three has the highest realistic level of technology and project 4 will have the biggest levels of technology thus being more than realistic levels thus having a low score. Can be implemented in 1 year or less, the projects that have slightly easier projects will be done before others. In my opinion the projects that have the strongest sponsor support will be the ones that promote more business and thus the scores for the projects 1 and 4 being the highest since they will promote the most building of businesses and therefore create more income around the globe, the hardest ones with the least amount of sponsor support will be the ones that will require politicians and the rich to do what is believed to be morally right. The last criteria are weighted at 17% because it is important how the projects will affect the overall business since you do not want to ruin your business due to a project that you took on. I believe that the second project, change the laws campaign, would put the most risk on the company because it will have to be accomplished by politicians in the political spectrum. The second highest will be wealthy unite because they will have schedules that the company would have to work around to get the information as well as having the wealthy potentially not agree to any of the stipulations that will be placed on them with the app tracking them and what they do.
When you weigh the four projects it shows that the projects should be done in the order of global Treps being the first one to accomplish followed by wealthy unite being the second project that would be feasible then change the laws and lastly global smart shoppers. It is weighted this way because the risk to the business, the realistic use of technology, and the amount of time it will take are bigger factors that impacted global smart shoppers and change the laws campaign is an easy campaign to do but it relies on people calling their politicians and the politicians making changes to the laws. The most feasible ones to do with the least amount of time, money, and risk will be the global Treps followed by wealthy unite.
3. Prepare a business case for the Global Treps project. Assume that the project will take six months to complete, use many volunteer hours, and cost about $120,000 for hardware, soft- ware, travel, and labor. Use the business case template provided on the companion website for this text. Be sure to research information on the television show and events held by colleges and other groups, which have been sparked by the need for more successful entrepreneurs. Also visit DonorsChoose.org to see how that site operates and look into steps for forming a non-profit organization.
Business Case for Project Name
Business Case Global Treps
Date: Jan 14,2018
Prepared by: Project Manager
|1.0 Introduction/ Background
Both salary and asset imbalance has turned into a widespread issue that should be tended to. In an ongoing report found that the world’s 80 wealthiest people possess as much as the whole world’s most unfortunate 3.5 billion individuals.
Many individuals, corporations, charities, and government agencies have projects and programs in place but there are many opportunities to do more. Thus, a group of college students has decided to work together to do their part in making the world a better place.
|2.0 Business Objective
Sharing information on products and services that will promote economic growth and sustainability as well as developing new skills for both students and deprived populations alike while promoting exciting new entrepreneur possibilities.
This will be done by creating a central website and a mobile app that is easy to use. The website as well as the mobile app can help organize events across the world during the projects life as well as developing new opportunities across the globe.
|3.0 Current Situation and Problem/Opportunity Statement
Global Treps project will create a website and a mobile app that will bring both the entrepreneur and the investor together. The primary goal of this is to not only bring in the current investors with the current entrepreneurs but to bring in new investors and new entrepreneurs alike. The website will be used to provide an online version of the events by showing videos of the entrepreneurs and the investors while also getting live inputs and donations from viewers.
|4.0 Critical Assumption and Constraints
Both the website and the mobile application will have to be a valuable asset to the organization that will be using it. The project, website, and mobile app must be supported by the current and prospected investors. To keep the project going it must hit its breakeven point within a reasonable amount of time after its completion time, approximately six months. Appropriate hardware and software will be purchased to assist the team during the build and the project manager will be the lead for the project and the team.
|5.0 Analysis of Option and Recommendation
A great option would be to create a non-profit organization along with the website and mobile application. This would be so that they can assist with the events, the broadcasting, as well as keeping every potential and current investor and entrepreneur up to date on events and updates within the project.
|6.0 Preliminary Project Requirements
• Provide guidelines and templates for running a shark tank type of event
• Accept donations from potential investors targeted toward specific schools or organizations wishing to host an event
• Accept ideas for needed new products or services
• Provide the ability for organizations to create their own custom site to solicit local participants and sharks, accept applications, and promote the winners as well as losers
• Research ideas for a mechanism where a certain percentage of all donations and profits earned by contestants are donated back to the Global Treps organization
• Provide an online version of the events by showing videos of contestants and live reactions of the sharks while also getting live inputs and donations from viewers
|7.0 Budget Estimate and Financial Analysis
An estimated cost for the project is $120,000. This estimate is based off of hardware, software needed to create the application and website as well as travel, and labor costs. This also includes the costs for the project managers salary as well as the team leader’s salary’s over a six-month period.
|8.0 Schedule Estimate
The project will take six months to complete, does not appear that there will be any flexibility in the schedule.
|9.0 Potential Risks
There are a few potential risks that need to be addressed with this project. Since it is a website as well as an application there is a likelihood that it may take more time than six months to be completed. Each section of the development team, programmers, designers, developers, may take more time than what is scheduled to complete each of their tasks. Investors and entrepreneurs may not be as interested in the project as expected. Security and stable connections could be an issue when broadcasting the live events to the customers.
Exhibit A: Financial Analysis
4. Prepare a draft project charter for the Global Treps project. Assume that the project will take six months to complete and have a budget of $120,000. Use the project charter template provided in this text and the sample project charter provided in Table 4-1 as guides. You will be the project manager, and Dr. K. will be the project sponsor. Other team members will include Bobby, Ashok, Kim, and Alfreda. You plan to hold four shark tank like events plus develop the Global Treps site and application.
Project Title: Global Treps:
Project Start Date: January 14, 2018 Projected Finish Date: June 14,2018
Budget Information: $120,000
Project Manager: Jon Shibuya, (123)456-7890, email@example.com
Create Global Treps website and mobile application.
Main Project Success Criteria:
The project will take no more than six months to complete and not exceed a budget of $120,000
· Complete all the analysis and paperwork for the project in less than a week.
· Have a detailed software development plan and scheduled dates for each phase of the plan.
· Have the team ready for when the plan is approved
· Ensure that the correct people are in the correct area based on their expertise and ensure that they know what the timeframe is that they need to have their part completed.
Roles and Responsibilities
|Project Sponsor||Dr. K||CEO||Drk@email.com|
|Team member||Bobby||Testing firstname.lastname@example.org|
Sign-off: (Signatures of all above stakeholders. Can sign by their names in table above.)
Comments: (Handwritten or typed comments from above stakeholders, if applicable)
5. Prepare a change request for the Global Treps project, using the template provided on the companion website for this text. Assume that you have decided not to provide an online version of the show as it would be too much work for the initial project. Be creative when making up information.
Change Request Form
Project Name: Global Treps
Date Request Submitted: 03/03/2018
Title of Change Request removal of live on website
Change Order Number:135681
Submitted by: Jon S., email@example.com
Change Category: Scope Schedule Cost Technology Other
Description of change requested:
providing an online version of the show would be too much work for the initial project and requesting removal of the online show on the website.
Events that made this change necessary or desirable:
Justification for the change/why it is needed/desired to continue/complete the project:
The live video will still be available on the mobile application but would require too many man hours to complete on the web-based version so just the live feed should be removed from the web-based version.
Impact of the proposed change on:
Scope: would only affect the web-based version, only thing to be removed will be the live feed, everything else on the web-based system will stay intact.
Schedule: removing the live feed will keep the project on schedule.
Cost: this will reduce the cost by approximately $2500
Staffing: reduce the need for the extra security programmer and security specialist.
Risk: might reduce the number of viewers to the site and reduce the amount of donations.
Other: could potentially bring in less advertising to the events because people might not want to use their data on their phones and would rather use their home networks to watch the live feeds.
Suggested implementation if the change request is approved:
Removal of the live feed immediately and notify the team of the approved changes.
Weighted Score by Project