PM FPX 5332 Assessment 3 Cosmo Inc. Wearable Technology Marketing Strategy

PM FPX 5332 Assessment 3 Cosmo Inc. Wearable Technology Marketing Strategy

Student Name

Capella University 

PM-FPX 5332 Project Management Planning, Execution, and Control

Capella University 

Date:

Introduction:

Following a recent data analysis, our Chief Executive Officer, Harold Living, identified a potential decline in our earnings due to the introduction of innovative technology by our competitors. To uphold our position as a leading entity in the wearable technology market, Mr. Living has proposed the development of an advanced wearable technology product aimed at boosting our sales. Enclosed herein are the project schedule’s activity sequencing, the project cost estimate, and the integrated change control plan, encompassing the entirety of our project.

Project Schedule Activity Sequencing:

Within a limited timeframe of 10 weeks, the schedule presented includes predecessor activities that must commence or conclude before a successor task can begin or conclude. The table below provides a high-level overview of the project duration, commencing on 02/07/2020 and concluding on 04/04/2020:

Utilizing a basic Gantt chart, the detailed outlines of predecessors and successors are presented below.

Project Estimate Cost:

This section outlines the estimated budget for the entire project, breaking down estimated labor costs and materials for Cosmo Inc. It is designed to align with the Work Breakdown Structure (WBS) and is sectioned by phases. Additionally, assumptions, constraints, and dependencies are outlined. The project’s actual cost is yet to be determined, with the overall budget capped at $150,000.

Assumptions:

• All team members possess the necessary skills and knowledge regarding Cosmo Inc.’s wearable technology required for the project.
• All team members will be available throughout the project duration.
• Funding is available to support the project’s needs.
• The project owner can provide the necessary financial support for completion.
• The team will successfully deliver within the project scope, budget, and schedule.

Constraints:

• Limited data required for market analysis due to the project’s time frame.
• Potential technical limitations for developers.
• A small team, with member absence affecting the project’s completion timeframe.

Dependencies:

• Development of the product and application operating the merchandise.
• Involvement of the marketing director in developing the logo and sales pitch.
• Creation of the training program for customer support staff.

Total Estimated Cost:

• Proposed Hardware Costs.
• Proposed Software Costs.
• Proposed Personnel Costs.

Integrated Change Control Plan:

This segment encompasses plans for change control involving requests, facts, processes, judgment, and review. Upon approval, changes will be updated in the project management plans and procedures. Organizational impacts depend on the details of the sought changes, making it challenging to forecast their impact on the project.

PM FPX 5332 Assessment 3 Cosmo Inc. Wearable Technology Marketing Strategy

In line with the PMBOK Guide, the following inputs, tools & techniques, and outputs will be employed. This process will be discussed during a series of weekly review and change meetings scheduled in the boardroom:

References:

The Guide To The Project Management Body of Knowledge (PMBOK Guide). 6. Newtown Square: Project Management Institute, 2008.

PM FPX 5332 Assessment 3 Cosmo Inc. Wearable Technology Marketing Strategy