1- Yes, because I think this is a great idea and thats will benefit me a lot as an employee in this project its will give me a great opportunity to work on this type of project.
2- Yes, I would approve the project because of the advantages that the company will gain from this project and the project seems to be great and will help to develop this project. I think the scope statement was clear and the goal of this project was identified.
3- Tangible costs: like software, hardware, the cost of project team, development costs and the operating costs and the implementation of the project.
Intangible costs: like loss of employees morale because of the overload work, the functioning processe of the project and the implementation inefficiency.
intangible benefits: gain the customer trust, improve the management information.
4-I think the risk will be in this project from low to medium. As one of the project team I would say that the important risk that may affect the project plan is the time.
The time is limited. The project will start at 2/5/2015 and will end after 6 months at 7/30/2015 so that may put the employee and the project team under stress and overload.
4- If I assigned to help Jim with the project, I would apply the Incremental commitment concept on the goals that Jim already write it in the scope statement. I would see if these goals can be completed by the team or not before they assigning additional resources.
5- I think a good time to assess the economic analysis after the team put a clear plan for how they will complete each goal for this project because that will make it easy to know what they need for each goal.
The relevant economic feasibility for this project is:
A- Total cost of ownership like:
One-time costs include: system development, new hardware, new software, site preparation
Recurring costs which the sponsor has to pay it every year like:
Incremental data storage, software maintenance, the redeem points cost.
Time value of money. Comparing of the current cash outlays with the future revenues.
6- If I assigned to be one of the Jims team, I would conduct several activities earlier in the beginning when we as team setting the plan for the project. The team members should know what are their responsibilities. the responsibilities should be distributed between them. Those are some activities:
we will make sure that all the projects goals are realistic and we will be able to apply them because if the goals of the project unreal then we will just waste money and time.
We have to make sure that the sponsor and the company capable to supply the project with enough amount of money because the company will also gain the revenues from this project
Time is the big challenge for this project so we have to make sure that the project starts on time and end on time by setting the goals.
We have to make sure that the team capable and have the important technical skills.
We have to outline the technologies that we need it to make the project successful and to make sure that the company is able to provide these technologies.
We have to outline the risks by using (risk register) to manage these risks before the project start which can decrease the cost that the company may lose.
We have to document every thing to make sure that the team will follow the same plan and thats will make them work on the scope only and prevent the scope from important issue like scope extended.
We have to understand the law and what is the legal risks.
7- Operational risk includes risks from poor implementation and distribution of the project. For Petrie electronic project the important operational risk that may affect the project is the customer trust and loyalty. We can not make sure that the customer will be loyal for Petries electronic project. Another thing that may be affect the project is the project built to gain the customer loyalty. the project tries to attract customer which may cost the company large amount of money in the future.
They have to monitor the system development since they start to plan for this project. First step they have to do risks register to decrease the cost and to make sure that this project will not fail for example; the operational risk should be monitor in each phase to save the project from the frailer. secondly, they have to implement and use the Incremental commitment concept for each goal in the scope to make sure that they are in the right way.