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Go Ahead Watch Project (Business Plan)

Extracts from this document...

Introduction

Section 1.0: Executive Summary Go Ahead Watch Project Our project objective is develop a first batch limited edition of waterproof Go Ahead watch which embedded microchip technology and designed to work as operators as the sole electronic payment system (EPS). The watch most awesome part is using solar cell to run all the activities. It will be wireless-enabled devices to view payment balance figure, LRT schedule; calendar, local weather, traffic condition, lottery and sport result in the high resolution screen. Go Ahead watch will work as guard against theft device and provided security password control. That will bring more convenience to public users especially office workers that always go through public bas, LRT, toll expressway and highway in a long term period. However, user just can access it at certain area that provided wireless provider. The watch also must always absorb with the sun seen our product is solar energy watch. Our ideal customer which above 25 years old that mostly enjoy of play lottery game and interest on football match. Our customer may divide into the "yuppies" that follow trends and buy products that everyone else has and older adults who simply have good taste and a sense of style. Our project teams have 3 people in group which have different skill to provide this valuable product. One of us was a lot experience on programming code. Another one was good on scheduling and planning resources skill. We were estimated this project required RM150, 000 fund for outsource, operation expenses, raw material and other. The duration of this project may spend up 12 months. ...read more.

Middle

We expect the sales to continue growing, and to capitalize on this ever-present market for watches - people will always need and buy watches. Besides, Malaysia is moving towards a "cashless society" with more people using the electronic payment system. Our main competitor is Touch n' Go company which having 500 million Touch n' Go card holders in the country, it means we may have same amount of customer which will buy our product. This directly will increase our sale volume and bring revenue to us. Go Ahead watch will bring more convenience to public users especially office workers that always go through public bas, LRT, toll expressway and highway in a long term period. In addition, potential buyers are willing to spend moderate to high amounts on watches because it can make the customer look good - and hence feel good about them. However, the competition is based more on quality than price unlike the discount market. So, we will invite Watch Company such as Casio to invest in this project. This directly will save our cost and able to maintain product quality. So, that Watch Company's customers which love the brand design will attract to Go Ahead watch too. Section 5.0: Business Model The water resistance limited edition Go Ahead watch which will use by Malaysian toll expressway and highway operators as the sole electronic payment system (EPS) to our potential buyer. Presently, users always need keep the card inside the pocket or purse even bag so easy misplaced. There no manufacture to produce this type of unique product seen that are bigger amount of Touch n Go card holders in current market. ...read more.

Conclusion

5 % 7,500 Research expenses 5 % 7,500 Miscellaneous * Paper, stationary, etc (RM200/month) 1.6 % 2,400 Rental * Lab for Testing (RM2250/ month) 1.5% 2,250 Outsourcing * Supply A (RM80/day) * Supply B(RM51.76/day) 8% 12,000 Maintenance fees(RM375/month) 3% 4,500 Contingency Reserve 13.7% 20,550 Total Amount 100% 150,000 New Preliminary Cost Estimate for proposed project in one year Area Percentage Amount (RM) Salary - Project manager (RM2200/month) - One Employee (existing) (RM1100/month) - One Employee work 5 month (resign) (RM1100/month) - New Employee A work 7 month (RM1200/month) - One Existing Programmer(RM1500/month) - New Employee B Programmer work 6 month 15 days - (RM1450/month) 53.95% 80,925 Employee Welfare (RM625/month) 5% 7,500 Software 3 % 4,500 Hardware - Computer, printer, etc 7% 10,500 Utility(RM625/month) 5 % 7,500 Research expenses 5 % 7,500 Miscellaneous * Paper, stationary, etc (RM200/month) 1.6 % 2,400 Rental * Lab for Testing (RM2250/ month) 1.5% 2,250 Outsourcing * Supply A (RM80/day) * Supply B(RM51.76/day) 8% 12,000 Maintenance fees(RM375/month) 3% 4,500 Contingency Reserve 6.95% 10,425 Total Amount 100% 150,000 Those employees have brought impact to our original project plan. In order to overcome the project cost and time, we will have adjustment of human recourse management and will not affect the overall budget. Due to our company policies, we still need to distribute salary to our programmer although he/she was hospitalized due to H1N1 infection for three weeks. In addition, we need to find employees in shorten period require higher salary for attract them. So, we will distribute new employees' salary by deduct from contingency reserve so will not affect our project overall budget. Lastly, we will able to complete specific task based on schedule without delaying the whole project. Appendix (Mind Mapping Technique) //Please refers to Hardcopy.Thanks. ?? ?? ?? ?? UCCD 2033 Software and Project Management 1 ...read more.

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