FINANCIAL ANALYSIS

Project development and implementation

Project Development and Implementation

Introduction

The company has decided to expand its business and for this, the management of the company has planned to start a new courier company. The prime reason of starting a courier company was that the management believes that courier service is an integral part of the society.

The management of the company has planned to develop an effective courier company that will include all the latest technology of sending the packages and will ensure that the time of delivering the packages should be minimized to two days. (Taylor et al, 2000).

Analyse the factors that contribute to the process of selecting your project.

Election of the project is not an easy task, as for that purpose company needs to consider several factors that play an important role in the selection of the project. These factors are described below.

The most important factor that plays an important role in the selection of the project is its overall effectiveness to the existing business, which means that after its implementation will it be a profitable venture, how much time it will take to its completion, and several other things (Songer et al, 1997)

The most important factor in selection of the project is its overall cost structure, which indicates the investment cost, cost of raw material, and others. The company is the integral part of the society; therefore, the important factor that the management of the company looks at before selection of the project is its affect and overall benefit to the society (Songer et al, 1997).

Develop outline project specifications for the implementation of a new product, service or process

The main quality of this company is that it will charge minimal price from its customers and will ensure safe and timely delivery of their parcel, in addition to these all, the operation of this company will be computerized.

In addition to this the company is planning to complete the planning of this project within a month and starts it development procedure, and most important the company is planning to launch this service by the mid of 2014.

As it is a known fact that the company is starting a new business and has no previous experience of this kind of business, but being the shipment company they are aware of the whole process of courier delivery, and they are in constant touch with other friends of this industry.

Currently this project is in a planning stage and after a month, its development phase will start which will approximately take a year and half, and this phase the management is planning to launch this project by the mid of 2014.

Produce a specification for an agreed project to implement a new product, service or process

For the effective development and implementation of the courier services, that management has developed a perfect approach that contains following main points (Tong & Dhar, 2012; Taylor et al, 2000).

The major steps of the project development are selection of the project, evaluation of the project, evaluation of its overall ...