Project Proposal

A brief summary ofthe project:

My professional project is to creat a new product for my organization, a small business that sells health and beauty products. The product will be a new type of hair care product that is designed to be used by people with curly hair. The product will be designed to address the specific needs of people with curly hair, which are often different than the needs of people with straight hair. The product will be formulated to hydrate and nourish curly hair, and will also be designed to help reduce frizz and define curls. The project will involve research into the specific needs of people with curly hair, as well as market research to determine whether there is a demand for this type of product. I will also need to develop a prototype of the product, and test it to ensure that it meets the needs of my target market. If successful, this project has the potential to generate new revenue for my organization by providing a new product that meets a need that is not currently being met by our existing product line. This project will also provide me with the opportunity to develop new skills in product development, market research, and project management.

Project goals and project objectives:

The first goal of the project is to creat a prototype of the product. This will be measured by the completion of the prototype and the ability of the product to meet the requirements set forth by the project sponsor. The second goal is to test the product on a small group of people. This will be measured by the feedback of the people who test the product and the ability of the product to meet the requirements set forth by the project sponsor. The third goal is to creat a marketing plan to promote the product. This will be measured by the ability of the marketing plan to reach the target market and the ability of the product to meet the requirements set forth by the project sponsor.The first objective of the project is to create a new product that is easy to use. This will be measured by the feedback of the people who test the product. The second objective is to create a new product that positively affects the user's hair. This will be measured by the feedback of the people who test the product and by the ability of the product to meet the requirements set forth by the project sponsor. The third objective is to create a new product that is affordable. This will be measured by the price of the product and the ability of the product to meet the requirements set forth by the project sponsor.

Customer(s) and stakeholders for the project:

The key customers for my project are people with curly hair. Curly hair is often difficult to manage, and many products on the market are designed for straight hair. This can leave people with curly hair feeling frustrated and left out. My product will be designed specifically for people with curly hair, to make their lives easier.The stakeholders for my project are the employees of the small business where I work. They are invested in the success of the business, and want to see it grow. They will be involved in the project from start to finish, from helping to develop the product to testing it to promoting it.There are a few other stakeholders that should be considered when developing this product. First, the suppliers of the raw materials needed to creat the product. They need to be able to provide the necessary ingredients at a reasonable cost. Second, the manufacturers of the packaging for the product. The packaging needs to be able to protect the product and keep it fresh. Third, the distributors who will be responsible for getting the product to the shelves of the stores. They need to be able to get the product to the stores in a timely manner.

According to(Kataria et al., 3), the project sponsor and stakeholders have a vested interest in the successful completion of the project. The project sponsor is the organization's owner and the stakeholders are the employees. The business need for the project is to creat a new product that will appeal to a new customer base. The project objectives are to creat a new product that is easy to use, positively affects the user's hair, and is affordable. The high-level requirements for the project are to creat a prototype of the product, test the product on a small group of people, and then creat a marketing plan to promote the product. In order to keep the project sponsor and stakeholders updated on the project's progress, regular communication is essential. The project manager should schedule regular meetings with the project sponsor and stakeholders to update them on the project's progress and to solicit their input and feedback. The project manager should also send out regular project updates to the project sponsor and stakeholders. It is also important to keep the project sponsor and stakeholders informed of any risks or issues that could impact the project's success. The project manager should identify and assess risks early on in the project and develop a risk management plan to mitigate these risks. The project manager should also keep the project sponsor and stakeholders informed of any changes or issues that could impact the project. In order to ensure the successful completion of the project, it is essential to keep the project sponsor and stakeholders informed and involved throughout the project. Regular communication and updates are essential to keeping the project sponsor and stakeholders informed of the project's progress.

• Three key milestones and/or deliverables for the project.

1. After doing a research, from (Haenlein et al., 2), the first milestone for this project should be creating a prototype of the new product. This prototype will be used to test the product on a small group of people.

2. The second milestone is to test the product on a small group of people. This will help to determine if the product is easy to use and if it has a positive effect on the user's hair.

3. The third milestone is to creat a marketing plan to promote the product. This plan will include a budget and a timeline for launching the product.

A high-level timeline that includes key tasks and deadlines.

The project will begin with a period of research and development, during which the product will be designed and created. The timeline for this stage of the project is as follows:

• Task 1: Research the needs of people with curly hair
• Deadline: 1 month
• Task 2: Develop a prototype of the product
• Deadline: 2 months
• Task 3: Test the product on a small group of people
• Deadline: 3 months

After the product has been developed and tested, a marketing plan will be created to promote it. The timeline for this stage of the project is as follows:

• Task 4: Creat a marketing plan
• Deadline: 1 month
• Task 5: Launch the marketing campaign
• Deadline: 2 months

The project will then be evaluated to determine whether it was successful in achieving its objectives.

Estimation of the project's overall costs and any key staffing and non-staffing resources needed.

The project will cost an estimated $200,000 to $250,000. This includes the cost of developing the product, testing the product, and creating the marketing plan. The key staffing resources needed for the project are a project manager, a product development specialist, and a marketing specialist. The key non-staffing resources needed for the project are funding for the product development and marketing, and a test group of people with curly hair. The estimation for the project's overall costs is based on the costs of similar projects that have been undertaken by the organization in the past. The key staffing resources needed for the project are a project manager, a product development specialist, and a marketing specialist. These roles are necessary to ensure that the project is completed on time, within budget, and to the required standard (Cooper, 1). The key non-staffing resources needed for the project are funding for the product development and marketing, and a test group of people with curly hair. These resources are necessary to ensure that the product is developed and marketed effectively.

Required

This assignment requires you to:

• Creat a WBS for your project using the proper format (MS Word, MS Excel, Visio, or any other applicable format) to depict the WBS graphically (see Figure 4.1 from Chapter 4 ofSuccessful Project Management). Alternatively, you may use a coded format using MS Word (see Figure 4.3 from Chapter 4 ofSuccessful Project Management: as an example). The example is in MS Project format, but the same could be done in MS Excel.
• Creat a project schedule that lists all of the core activities, dates (start and finish), and resources to complete your project. While it is recommended that you use MS Project, you can use MS Excel to creat your schedule. Your project schedule must contain at least 30 separate activities or tasks, including the critical path.
• The specific course learning outcome associated with this assignment is:
• Develop a work breakdown structure (WBS) and schedule for a project using appropriate digital tools (Word, Excel, Project, Visio, etc.).

Required:

Write a 5page paper in which you define the execution and control aspects of your project. In your paper you must:

Provide a brief summary of your chosen project.

Examine your project's greatest risks (at least three) and provide a recommendation for addressing each of the risks.

Examine how you will manage your project performance via earned value management. Identify at least three key EVM metrics you will use for your project.

Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.