Project Initiation Essay Example | Topics and Well Written Essays - 250 words

Project Initiation - Essay Example * Objectives. The Room Sized Plastic containers to be launched in the market within 9 months. Primarily it is expected to increase the company’s market presence by 50 % by the third year. However, this product will be a foundation for add-on products, and further revenue generation * Clear Statement of What This Project Will Not Include As the company is already involved in similar products and as the company has the injection mould of the required size, the Project will not include major Capital investment. * Major Known Risks The largest risk in the implementation of the project is its market competence. It must be noted that there is a similar product which has secured ample market presence. This would affect the quantum of sale resultantly delaying the achievement of breakeven. However, the fact that the new product won’t involve high increase in production cost would ensure that the product would easily survive the market establishment phase and resultantly bring in revenue for Winston Manufacturing Company. *External Dependencies The projects will involve and extra 10% of Human Resource. This could be utilized from other departments. 10 new laborers will have to be appointed to the production team. Other human resources may be tapped from the existing staff strength. The project would demand extensive cooperation amongst various departments. All the stakeholders of the project * Project Strategy The Company will use the existing injection mould to produce Room Size containers. The existing sources of inputs will be utilized. The project would attain break even earlier, as the new product won’t involve much of capital investment in terms of production line, resulting in early returns. This must be read together with the fact that the company can use the already existing production system for the new