Ask Financial Management Expert

Winsome Manufacturing Company produces plastic storage containers and sells them to the home consumer through home sales events.

At the company's quarterly meeting, the head of marketing described a new product to be introduced in the first quarter of the next fiscal year, approximately 9 months from now.

The product will be a room­sized plastic storage unit suitable to the outside of the home; it is similar to a competitor's product but will have significantly more features.

This product will open new markets for the sales channel, lay the foundation for add­on products, and generate new revenues. Management has only seen preliminary sketches of the potential product
but they are very excited by the new product.

The project will require participation from the design, production, purchasing, shipping, sales, and marketing departments. Winsome Manufacturing owns a line of suitable injection molds, so all manufacturing will be done in­house. The project manager for this project has not yet been selected, but that decision is expected to be made in the next week.

A preliminary project initiation meeting will result in the identification of the project sponsor, selection of a project manager, and creation of the project charter. A manager in the production department who knows you are taking a college project management course asks you to prepare a brief report to help him prepare for the meeting by answering the following questions:

Who are the project stakeholders? How will they be involved in the project?

Who should be the project sponsor? Why?

From which department should the project manager come? Why?

What skills and experience are likely needed by the project manager for each phase in the project life cycle, and how do they differ between the various phases?

What type of communication plan will likely be needed during the project?

What information should be shared with the project stakeholders?

What is the mechanism that could be used for each type of information?

What is the frequency with which information should be shared?

What should be done if project communications are not proving to be effective?

What technology could be used for project communications?

At what point could communication about the project become an ethical or legal issue?

What information should be included in the following elements of the project charter:

What is the problem the project proposes to address?

What business opportunity might project completion create?

What is the business case for undertaking the project?

What is the financial impact of the project?

What are the expected results of the project?

What value will the project add?

What are risks that might be involved with undertaking the project?

What is the potential impact to the company if the project is not undertaken?

Present your findings as a Word document of 4-5 pages (not including title and reference pages) formatted in APA style.

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92809102

Have any Question?


Related Questions in Financial Management

Assignment problems1 on the day harry was born his parents

Assignment Problems 1. On the day Harry was born, his parents put $1600 into an investment account that promises to pay a fixed interest rate of 5 percent per year. How much money will Harry have in this account when he ...

1 activities of a company that require the spending of cash

1) Activities of a company that require the spending of cash are known as: A) Uses of cash. B) Cash on hand. C) Cash receipts. D) Sources of cash. E) Cash collections. 2) Relationships determined from a firm's financial ...

Module discussion forumto prepare for this discussion

Module : Discussion Forum To prepare for this discussion, review "Basics of Speechwriting" and "Basics of Giving a Speech" in textbook Chapter 15. Then watch this video of Apple founder and CEO Steve Jobs giving the 2005 ...

Launching a new product linefor this portfolio project

Launching a New Product Line For this Portfolio Project Option, you will act as an employee in a large company that develops and distributes men's and women's personal care products. The company has developed a new produ ...

Question 1 discuss valuing bonds and how interest rates

Question : 1) Discuss valuing bonds and how interest rates affect their value. Also consider the importance of the yield-to-maturity (YTM). 2) Discuss common stocks and preferred stocks. Also, which common stock valuatio ...

Introductionlast week you determined the root causes of the

Introduction Last week, you determined the root cause(s) of the problem you are trying to resolve for your final paper. As a reminder, the decision you are working on is the one that you selected in week two. This week, ...

You have owned and operated a successful brick-and-mortar

You have owned and operated a successful brick-and-mortar business for several years. Due to increased competition from other retailers, you have decided to expand your operations to sell your products via the Internet. ...

You will be conducting an interview with a market research

You will be conducting an interview with a market research professional or a company representative. Use the results of your research to make specific recommendations on how market research can be applied to the Marketpl ...

Question 1 what is marketing research what are the two

Question 1: What is marketing research? What are the two primary types of research? Question 2: What factors influence marketing research? Question 3: The role of statistics in business decision-making? Assignment : Sele ...

Chapter 74 for commercial banks what is meant by a managed

Chapter 7 4. For commercial banks, what is meant by a managed liability? What role do liquid assets play on the balance sheet of commercial banks? What role do money market instruments play in the asset and liability man ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As