Harvard Business School Press, 2006, Managing Projects: Expert Solutions to Everyday Challenges, Harvard Press23Palhan, K, 2005, Managing Projects, Sage. 23 Project Summary Introduction The Function/ purpose of the Project Plan The project plan for creating a remote control helicopter will first of all play the role of defining the project. This will include defining the objectives and the goals of the project. The other purpose of the plan is to highlight the general direction and clear responsibility of the project. In addition the plan will be used to measure and evaluate the progress of the project while its underway.
The plan will also cover the following highlighted areas; The project management approach to be used The responsibility and roles of various stakeholders Outline the rules to be used in the project The timelines The budget Risk AssessmentAssumptions of the project The conceptual design of remote control helicopter Background Information / Existing Alternatives The work that has been done so far is the selection of materials that are to be used in the contraction of the remote control helicopter.
As stated earlier construction material for the helicopter are already available based on the fact that this is just an ongoing project of exiting projects in the organization. The Project Approach The approach that will be adopted in the project involves the stages of the actual development of the remote control helicopter. This are the milestone of the project which include; Milestone 1; Design Milestone 2; ProductionMilestone 3 Compliance TestingMilestone 4 Marketing Goals and Objectives of the Project Business Objectives Developing a remote control helicopter is to attain a considerable market share for children between the age of 10-15.
By creating the remote control the business will gain a larger market share based on the fact that the product will capture a segment or an age group that has not been exposed to the product. Increased market share to satisfy the needs of children between the ages of 10-15.Improved sales essentially from the Christmas holiday opportunity Enhanced level of customer satisfaction of children between the age of 10-15Project ObjectivesThe second goal of the project is to ensure that the product will be all set on shelves of various stores by 2012 Christmas holidays.
This therefore implies that a lot of focus will be put on the set deadlines and also the milestones in order to guarantee that stated timelines are attained. Scope Definition of Scope The project will advance an existing technology of remote control helicopters for children between the age of 10-15. This will include; Developing a product that will meet the standards of current existing technologies in the toy manufacturing industry The use of good quality plastic materials in order to develop the body of the helicopter Control software and hardware will be used in order to attain the current technological standards.
Developing a product that will meet the required safety standards for children The Estimated Budget The estimated budget for the project is about 2750,000, 000, the highlighted cost is inclusive of any overheads that may be encountered during the various stages of the project. A risk that may occur in terms of the estimated budget is the cost overrun. Winch (2010) highlights that cost overrun are costs that are unforeseen during the budgeting period.
The costs may include administration costs that are unexpected and additional costs associated to the innovation of the product. The effect of the cost overrun is that it will increase the cost of production which may affect the schedule of the project. In order to prevent the cost overrun problem during the project resources should be used effectively.