Title | Business case - The origin of Global Treps was to introduce a way to help exchange ideas that |
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Author | Virendra Devada |
Course | Project Management - Applied Project |
Institution | Conestoga College |
Pages | 3 |
File Size | 137.9 KB |
File Type | |
Total Downloads | 61 |
Total Views | 173 |
The origin of Global Treps was to introduce a way to help exchange ideas that can be assessed by many investors rather than single investors at a time....
Business Case for ******** Project Name: ******** 1.0 Introduction/ Background The origin of Global Treps was to introduce a way to help exchange ideas that can be assessed by many investors rather than single investors at a time. Global Treps, since it is a smaller venue, makes it easier for non-profit organizations to develop and manage the mobile-friendly website to help organize different events. Thus, encouraging even more entrepreneurs around the world to participate.
2.0 Business Objective BO – 1: Launching a non-profit organization with one mobile-friendly application and a webpage. BO – 2: Improve Monetary development to reduce cost. BO – 3: Increase organization visibility to potential clients all over the world.
3.0 Current Situation and Problem/Opportunity Statement Organizational coordination will be jeopardized when a more significant number of events are hosted for business. Provided the usage of Shark Tank-like events will help in this scenario because of the availability of unique business ideas which impress and spark even more entrepreneurs. The website and application should follow guidelines and templates for this event hosting with live proceedings.
4.0 Critical Assumption and Constraints Global Treps members should actively support the project and pay for itself in 6 months to reduce internal costs. And the Global Treps application and website will be in control which must be an asset with valuable quality. The system should be secure at the same time, easily accessible using all the guidelines and templates. . 5.0 Analysis of Options and Recommendation 1. Design and develop the new Non-profit organization webpage and application to help with shark-tank events. 2. Broadcast new events and attract and impress potential members. 6.0 Preliminary Project Requirements
1. Guidelines and templates for Shark Tank events must be easy to guide through and accessible. 2. Accept feedback and thoughts for required goods and services. 3. Grant permission and ability to organize to create custom locations to solicit applicants and sharks. 4. Endorse the winners and losers. 5. Approve and accept donations from stakeholders. 6. Make available online forms for the events by showing event videos as well as live inputs.
7.0 Budget Estimate and Financial Analysis The initial estimation of the round budget for the project is $120,000 (one hundred and thirty thousand dollars.). The analysis is concluded from planning working hours for six months, and Project Manager works 25 hours per week earning 40$/hour and Employees works for 50 hours per week, making $60//hour. Additional cost includes $15,000 for software, hardware, and services. And an estimated $35,000 each year over the six-month time frame.
8.0 Schedule Estimate Dr. K, the sponsor’s goal is to complete the project in 6 months.
9.0 Potential Risks 1. The significant risk includes the lack of interest by internal organizers and clients in the new system. 2. Technical and Safety risks may arise. 3. Developing and maintaining the application and website require more programmers and developers. 4. Deviating from project goal and not realizing the benefits after investing time and money.
10.0 Exhibits
Exhibit A: Financial Analysis Discount rate
7%
Assume the project is completed in 6 months Costs Discount factor Discounted costs Benefits Discount factor Discounted benefits
Year
0 120,000 1.00 120,000 0 1.00 0
Discounted benefits - costs
(120,000)
Cumulative benefits - costs
(120,000)
ROI
1 35,000 0.93
2 35,000 0.87
3 35,000 0.82
32,710
30,570
28,570
211,851
165000 0.93 154,206
165000 0.87 144,117
165000 0.82 134,689
433,012
121,495
113,547
106,119
221,161
115,042
221,161
1,495
104% Payback in Year X
Total
NPV...