Project Proposal for new product “ShareMarket.”

Project Proposal for new product “ShareMarket.”

Project Proposal

ABC company is a software development company located in San Fransisco, California. It specializes in the design of business-oriented software like Enterprise Resource Planning Systems, customer relationship management systems, marketing, and sales management systems, among other software used to perform different activities within the business environment.

Purpose and Objectives

ABC has come up with a new software called ShareMarket that leverages on the power of social media to market products. The digital marketing landscape is increasingly becoming sophisticated, with businesses relying on major data companies like Google and Facebook for marketing insights. These data companies take away the autonomy of information of companies. The ShareMarket is a specially designed software that will be used to analyze company data on social media sites and creating reports that can be used to drive digital marketing strategies. This software will be available both on-premise and also on cloud-based services.

Assumptions and Benefits

In developing this software, ABC assumes that no other company has attempted such a project. This is important, especially when considering intellectual property rights. ABC also makes the assumption that the product will be easily feasible with cloud computing technology, among other new technology such as Big Data, as these are the current market trends in software development. Assumptions are also rooted in the cost estimates for the project.  ABC uses an average cost estimation method that estimates costs based on current market costs of developing software. It is assumed that these costs will remain fairly constant throughout the project and will not be subject to economic changes.

By undertaking this project, ABC stands to fill a market gap for smaller businesses that cannot access the proprietary functions of Google’s and Facebook’s marketing tools. ABC stands to increase its profit margin by having one more product on its portfolio. Another advantage is that ABC gets to acquire control of  ShareMarket as a product. As such, they may dictate the price of the product from the start, and even when new companies decide to make the software.

Constraints

Despite the immense financial benefits of ShareMarket, ABC will have to deal with competition from already existing digital marketers.  Information leakages may hamper the product’s success as it would take autonomy away from ABC.  Another constraint exists in the costs of implementation, which may be high, given that some outsourcing may be required.

Preliminary list of activities

1. Project scope definition
2. Requirement definition
3. Cost Estimation
4. Scheduling
5. Risk analysis
6. Selecting the Delivery platform
7. Selecting Development tools
8. System modeling
9. Story board design
10. Database design
11. Interface design
12. Algorithm design
13. Database Implementation
14. Interface Implementation
15. Code Implementation
16. System testing
17. User testing
18. System Rework
19. System deployment
20. Project plan updates
21. Summative evaluation
22. Formulating Release notes
23. Packaging
24. Product Support
25. Documentation

Approach to Building a Project Team

The project team will be selected from ABC’s department.  ABC is already a software development company which infers that it has the necessary personnel needed to complete a software development project. However, the executive management and departmental managers will also be part of the project team as their input will be crucial in the design of the application. The project manager will head the technical team as well as the business team. However, there will be a definite overlapping of roles between the technical and business team, given the economic nature of the project.

Project Overview (Units II, III, IV)

1. Unit II

This unit comprises the introduction of the proposal of the project, purpose and objectives, assumptions, and benefits, along with the expected constraints. The unit also covers a preliminary list of activities and the approach of building a project team.

i.Finalized Purpose, Scope, and Objectives

The purpose of this project is to make the firm competitive in its market. This is by providing an additional offering, ShareMarket software, to its client. From the assumption, it is noted that there is no other firm, other than ABC that has been able to come up with such a software. Therefore, this implies that the introduction of the software in the market will make the firm outstanding in the industry in which it falls under.

The scope of this project will be on the marketing aspect. In this case, the business will be able to increase its products or rather offering under the sales management system and customer relations management. The rationale behind this claim as far as the two scope areas are concerned is because Sharemarket, which is a software that aims at marketing a firm’s offering on social media will help in enhancing good relations between the clients and the firm and this may subsequently have an effect on the sales.

The objective of the introduction of the ShareMarket is so as to leverage business operations. This is by bringing on board more clients to the benefitting organization.

1. Project Deliverables

• Expanding social networks

One of the project deliverables for ShareMarket software is in increasing the client base. The use of the application will enable a firm to attract more clients as its offerings will increase its social media presence.

• Boosting sales volume and revenue

The other deliverable is in terms of boosting sales volume and revenues. Sales can be increased as a result of the use of the platform, and this can be attributed to the increment in the social media presence. An increase in sales volume will definitely translate to an increase in revenues.

iii. Project Organization

1. Need identification

There will be the identification of the need of the project. This will detail the reason as to why there is a need to implement the project. An adequately framed need identification should be able to entice sponsors towards supporting the project.

2. Identification of project requirements

This will then be followed by the requirements for the project. All the inputs for the projects are outlined here.

3. Budgeting

After that, budgeting of the stated requirements will then follow.

4. Resource mobilization

The responsible authorities should then consider mobilizing for the resources, and this is mostly in terms of seeking sponsorship for the whole project.

5. Planning

After the resources have been mobilized, a detailed plan should be drafted on how such resources will be used and this should be in line with the budget.

On approval of the outlined plan, implementation will then follow.

7. Closure

Closure will then come in after implementation, and here is whereby the project deliverables are officially handed over to the client.