N = 8.

Part 2. Innovation and Product Planning (30% of assignment marks) The firm is looking to invest (in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 5N,000 (where N is the last digit of your student id) for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. a) Briefly introduce your product/system - what product "concept (idea) do you propose? i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product "concept". What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)? b) Discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages. Part 2. Innovation and Product Planning (30% of assignment marks) The firm is looking to invest (in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 5N,000 (where N is the last digit of your student id) for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. a) Briefly introduce your product/system - what product "concept (idea) do you propose? i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product "concept". What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)? b) Discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages