Project Management

Project Management

Assignment 1

An initial analysis of each of the three projects shows that each of the projects has the potential of generating profit within a short period of time. Project Juniper has a low risk and can be stated within a short period of time. However, the drawback of this project is that its life is short because it would reach its end of life by the end of the third year. This project is an enhancement of the current widget being offered by the company; hence, it is a safe project for the company to invest.

Project Palomino is an enhancement of the product being offered by the company. It would use the existing technology to enhance the product due to which its cost would not be too high and it will be available in 9 months. The risk of the project completing on time is 9 months. This seems to be a good project because its life is a slightly longer of 5 years.

Project Stargazer is an innovative product and the company is currently conducting research and development on it. This product has a longer life because it is something new. On the other hand, there is a high risk that the project would not be completed on time. The return on investment is high and the project has a long life which makes it lucrative.

An analysis of all three projects shows that Project Palomino has a medium risk of completion on time. The project can be completed in 9 months but the keeping in mind the risk, it can be completed within a year. The return on investment is also high due to which this project can be considered the best option.

Assignment 2

Total Quality Management is a good way of increasing the quality of the project. Organizations ...