OPS/571- Operations Management
University of Phoenix July 10, 2013
Dear Mr. Gritsch,
Our team wants to thank Piper Industries Corporate vice-president, Wendell Deirelein, for choosing our team to analyze the projects. In the attached document you will find our analysis and recommendation of the Project Proposal that benefits your company.
Project Management Recommendation
Project to be Implemented Piper Industries needs a completed project and for it to be generating review within 12 month’s of the Project Management Office’s (PMO) review (University of Phoenix, 2012). The project that fits the company’s requirements is the Stargazer project. The Stargazer project is efficient and the expectation of the project being completed on time is high. The research and development has already started on the widgets (University of Phoenix, 2012). According to the project descriptions, $450,000 has been spent on the product and they average a total of $575,000 being spent in order to bring the product to the market (University of Phoenix, 2012). Even though the dollar amount spent in this project is high, the return on investment for this project is high; by the third year the product is forecasted to have a return of investments of $750,000 (University of Phoenix, 2012). The product life of this project is forecasted to be 7 years (University of Phoenix, 2012). This product is still not being used, meaning Piper Industries will be the first company to launch the product to the market. By bringing such an innovative product into the marketplace, it can make Piper Industries the leader in the industry (University of Phoenix, 2012).
According to Stricker (2013), “Whether a project is large or small, the stages of a project are ultimately the same. Initiate the project, and then move into planning, followed by execution.
References: Doit. (n.d.). Retrieved from http://doit.maryland.gov/ Stricker, K. (2013). About.com.Management. Retrieved from http://management.about.com/od/projectmanagement/a/Five-Stages-of-a-Project.htm University of Phoenix. (2012). Project Management email.