- Work as guard against theft device
The Go Ahead which embedded speaker that able to producing high volume sound to frighten snatch thieves and protect user from danger situation. User may choose it from menu list that been provided in the watch.
- Set security control password
The Go Ahead watch will provided keypad that allow user to key in security password. User which have own valuable balance figure and being protected so other people cannot able to log in the watch and use it.
Preliminary Cost Estimate for proposed project in one year
Section 3.0: Technology Description
System specifications
Go Ahead Watch which water resistance has a roller wheel, keypad and button as user interfaces. It also has small speaker in it. The case must also provide an adequate degree of protection against external magnetic influences and shocks. The watch will contains a powerful processor along with eight megabytes of flash memory and another eight megabytes of dynamic random access memory. At present it might not be possible for have a voice capability by itself due to its tiny CPU power. Go Ahead watch will included MIFARE technology which owned by Philips with R&D in new products and security. This MIRAFE technology was contactless transmission of data and supply energy (no battery needed).
A photovoltaic cell on the face (dial) of the watch converts light to electricity, which in turn is used to charge a rechargeable battery or capacitor. The movement of the watch draws its power from the rechargeable battery or capacitor. As long as the watch is regularly exposed to fairly strong light (such as sunlight), it never needs battery replacement, and some models need only a few minutes of sunlight to provide weeks of energy. Go Ahead watch will be access device so that user can able to access to Internet for check payment balance figure, LRT schedule; calendar, local weather, traffic condition, lottery and sport result.
Go Ahead watch will bring convenience to our market target user that reduce amount of queuer for waiting toll or transportation payment. This directly reduces traffic jam at the highway and expressway. Go Ahead watch able to work as guard against theft device. That will bring our government encouragement and indirectly reduce amount of snatch thieves.
Our team member will do research to decided what resource to procure and watch’s interface design. Besides, we will forecast our target market user pattern and behavior and what their expectation to our product features by distribute questionnaire to them. We will survey what technology currently in this dynamic environment so we keep our product up-to-date and keep improving and fulfill product scope. We will arrange schedule activities and assign task to members. We will hire experienced programmers that specialized on Linux programming and watch designers. It will help to bring in new idea to our internal team member. We will invite Watch Company to invest in this project so both of us will being win-win situation and share the benefit and risk together.
Presently, lifestyle and demographic changing that create opportunity for our project. Ideal customers will have more extra income so will request higher expectation about our product. So, we will plan to apply Bluetooth, mp4, earphone and torch light features on Go Ahead product in future.
Section 4.0: Market and Competition
The purchase of luxury watches has increased by 50 percent over the past two years. 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.
Besides, Go Ahead watch will be wireless-enabled device that able to view payment balance figure, LRT schedule; calendar, weather, traffic condition, lottery and sport result. It also will work as guard against theft device and provided security password control. So, it indirectly reduce amount of snatch thieves. It will attract potential buyer to buy it seen having multiple function.
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.
Commonly, our product has more features than Touch n Go card and will monopoly the current market. Go Ahead watch will have the following sustainable competitive advantages:
- Work as sole electronic payment system (EPS)
- Work as wireless-enabled device
- Work as guard against theft device
- Provided security password control
- High quality at a moderate price.
- Elegant and ergonomic styling.
Sales Strategy
The lack of an existing recognized brand name will be an initial problem, but Go Ahead watch intends to cooperate with Watch Company, so will help to achieved powerful brand equity - allowing it to rely on, and succeed because of its brand name. Seen we produce limited edition Go Ahead watch that will attract a certain amount of customers and advertising by using banner, brochures and allocate at those toll station and famous LRT station there. Furthermore, we may have road show at some popular shopping malls during weekend. The advertising will be increase during high season such as Christmas or Chinese New Year holiday. By the way, we may create a Facebook application that allowed users to earn point by inviting more friends to join it. This directly will help us advertising our product. The user earn up certain higher amount point will have the chance would be entitled a discount bouncer. We will make announcements and update at our Go Ahead watch fan page on Facebook. As a result, the word of mouth potential for limited edition watch is explosive.
Marketing Strategy
Our strategy focuses on developing a limited edition of water resistant Go Ahead watch. Upon launching the first batch of watch, we will stay in regular contact with our customers via numerous online methods, including social media and email marketing. Commonly, “yuppies” and older adult will have their leisure-time such as watch football or play lottery game. They typically have large budgets to spend on marketing and are not afraid to try new things, as long as useful to them. Our Go Ahead product will require registration and customers who bought our product continually will be rewarded with a special tag, a gold star on their watch to show other users that they are “super loyalty” to the watch. For our demographic, this is a badge of honor that they try to attain proudly.
Go Ahead Watch Project
Discount Rate 7%
Payback Period
Payback period will happen on Year 1 when the cumulative benefit is higher than cumulative cost. (RM320, 000>RM220, 500)
Go Ahead Project’s Work Breakdown Structure (WBS) in Chart Form
//Please refers to Part C.doc. Thanks.
Go Ahead Project’s Gantt chart
//Please refers to Part C.doc. Thanks.
Go Ahead Project’s Simple Network Diagram
//Please refers to Part C.doc. Thanks.
Ad-hoc changes of the Go Ahead Watch Project
Original Plan
New Plan
One member of our team has suddenly resigned by serving 24-hours notice at 13 August 2010 while we having screen layout design progress which near the ending screen layout design stage. We need to delay one week for screen layout design stage. We may spend few days for look forward a new employee A which well in prototyping. The new employee A will start join us at 17 August and suit to our environment while screen layout design section’s due date at 19 August however our milestone drops at 26 August 2010 in Watch Design stage. So, it will not delay our project duration time.
Original Plan
New Plan
After a week later, another member has been hospitalized due to H1N1 infection for three weeks during the beginning of in-house writing coding stage at 20 August. We need to delay the stage for extra 1 week for finding a new suitable and specialized on Linux coding employee B to take over the existing employee task. The new employee B will join us at will be handling in the Watch Development stages in-house at 27 August. The due date of in-house coding section drop at 14 December. However, milestone that requires to submit at 30 December. After our existing member that just recover from H1N1 may welcome to join us back and work as part time or full time based on he/she health situation.
Assumption: Mostly every milestone in our Gantt chart have own buffer. The total buffer which set on milestones probably is around 39 days. So, every task that happen any uncertainty will not delay the milestone.
Original Preliminary Cost Estimate for proposed project in one year
New Preliminary Cost Estimate for proposed project in one year
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.