Reference no: EM133247540

Case: Jane struggles to get to work on time because of heavy traffic and constant construction on her typical routes. Luckily, a new smartphone has just been released and includes an app called miTime, which is a new type of adaptive GPS application that guarantees to get anyone to any location on time. The app does this using the traveler's schedule, regional weather patterns, and personal driving habits.

This new phone is $2,050.00, which is a very steep price that Jane may not be able to afford. Jane can also download the miTime app on a less expensive phone, but the app isn't guaranteed to be as efficient. Another option would be to keep the phone she currently has, but she won't be able to download the miTime app because her current phone is too old.

Once again, here are Jane's options:

Spend $2,050.00 on the new smartphone that include the miTime app
Download miTime on a newer, but less expensive phone
Keep her current phone and not purchase/use in miTime
do a cost/benefit analysis based on Jane's three options. From your cost/benefit analysis, provide in detail the risks associated with each option. Select the option that's best for Jane.

Part II - You are now Jane. You attempt the initial recommendation from Part 1. However, circumstances have made it impossible for you implement this option. From the Cost Benefits Analysis completed in Part 1, provide the risks associated with each of the two remaining options. Next, select one as your contingency and provide a detailed explanation for your decision. Support your selection.