Reference no: EM132288003 , Length: 12 pages
The New product is "Green Coal" - Product of rice husk
Milestone One
Overview: For the final project, you will create a Product Launch Comprehensive Strategy and Professional Reflection to demonstrate proficiency in all areas of operations and project management.
In Milestone One, you will submit a Product Launch Strategy and Planning Brief, which will also become part of Component 1, due in Module Seven. In Milestone One, you will explain which case you have selected, provide a rationale for why you selected this particular organization, and describe what new product or service you are proposing for the organization. Include the proposed approach you will use for product/process development. Also include a high-level deployment strategy and the overall plan with a Gantt chart that will be used as the framework to introduce a new product or service into an existing facility. You can begin identifying key stakeholders that will need to be involved in the project. The instructor will provide feedback on this milestone to help you shape your final capstone project.
Critical Elements
• Rationale: Lay out the rationale for the case selection and fit for the new product or service.
• Problem or Opportunity: Identify the problem or opportunity the new product or service will address.
• Company: Explain how the new product or service fits with the company culture and competitive marketplace.
• Approach: Identify, at a high level, the framework for developing the new product or service. Include any quality tools or techniques that you might incorporate.
• Methodology and Planning: Define the methodology you think fits best for the particular product or service development within this given organization. Begin the high-level planning with a project Gantt chart, leveraging tools such as Microsoft Project.
Milestone Two
Overview: For the final project, you will create a Product Launch Comprehensive Strategy and Professional Reflection to demonstrate proficiency in all areas of operations and project management.
In Milestone Two, you will submit the Manufacturing or Service, Production/Resource Scheduling and Inventory Management Brief, which will become part of Component 2, due in Module Eight. In this brief you will begin defining the manufacturing or service-related requirements necessary to support the introduction of a new product or service. You will propose the manufacturing system (if appropriate), propose how inventory (if any) will be managed, and begin the high-level estimates on capacity and/or resource planning. A detailed process flow chart must be developed showing the recommended service or manufacturing process. The instructor will provide feedback on this milestone to help you shape your final capstone project.
Critical Elements
• Requirements: Identify the unique manufacturing or service-related requirements to support the new product or service.
• Inventory Management: Select an inventory management approach that supports the planned supply chain.
• Capacity Planning: Develop high-level estimates for output of the new product/service.
• Process Flow Chart: Create a process flow of the new product/service flow that leverages standard process flow chart shapes and techniques. May leverage tools such as Microsoft Visio for flow chart development.
Milestone Three
Overview: For the final project, you will create a Product Launch Comprehensive Strategy and Professional Reflection to demonstrate proficiency in all areas of operations and project management.
In Milestone Three, you will submit a Financial Assessment and Resource Planning Brief, which will become part of Component 3, due in Module Nine. In the brief, you will begin developing key financial documents. You may need to supplement the case study with additional research on current or past financial statements for the organization. Consider how the new product/service fits into the financial capacity of the organization. Is the new service/product appropriate for the organization's strategic financial investment? Describe the company valuation and the financial fit of the new product/service. Begin estimating the costs to manufacture or develop the service, the staffing needs, the materials or equipment needed, etc. Next, estimate the planned benefit of the new product/service, making sure to consider the ongoing costs as well as the initial development costs. In the appendix include an initial draft of the financial valuation and justification of the new product/service using a standard approach such as a cost/benefit analysis, return on investment, internal rate of return, net present value, and/or break-even analysis. The instructor will provide feedback on this milestone to better shape your final capstone project.
Critical Elements
• Economic Fit: Describe how the planned new product or service is a good fit for the organization from a financial perspective. Discuss the economic feasibility of the project.
• Operational Costs: Identify the costs surrounding the manufacture of the product or any unique manufacturing or service-related requirements to support the new product or service. This may include leveraging operational tools and techniques to forecast material needs and staffing levels such as inventory turns, holding costs, weeks of supply, economic order quantity, resource plans, or other standard approaches.
• Benefits: Estimate the potential benefits of the new product or service, leveraging a standard estimating approach and noting confidence levels.
• Cost Justification: Prepare a cost/benefit analysis for the new product or service. You may also leverage other financial justification approaches such as IRR, ROI, or break-even.