Milestone 3 Component 3: Financial Assessment and Resource Planning
In the third component of the capstone, conduct a financial assessment (cost/benefit analysis) of the new product/service as well as identify all related resources needed to support the product or service launch. The estimating approach and confidence level of the estimates must be clearly stated and explained.
You will create a financial assessment (cost/benefit analysis) that addresses the following:
Resources (including, but not limited to):
Equipment/Materials
Staffing
Cost (including, but not limited to):
Cost to manufacture the product
Cost to complete the service
Cost associated with supporting operations
The third component shall be accompanied by a 1215 page report detailing the rationale behind each of the major items outlined in financial assessment. Thiswill include the detailed calculations and appropriate graphical tools used to fully support your financial assessment and resource plan.
To complete this assignment, review the Final Project Guidelines and Rubric document(ATTACHED)
FROM MY INSTRUCTOR.
Hi Class,
I know we are coming to the end and there has been a lot of work in these final weeks. In week 9 we will focus on the financials surrounding your new product. The financials should be a complete picture of the costs and benefits planned from the new product or service. You will want to include the product launch costs (the costs to get this up and running) and also the ongoing operational costs. Likewise you will include the benefits estimated in dollars from the launch and ongoing sale of the new product or service. In general, you will want to estimate approximately 3 -10 years out. A hurdle rate of 5-7% is appropriate given the current economic conditions. Remember to include the approach you used for forecasting or estimating the costs and benefits and your confidence level of these estimates. The paper that surrounds this third component should provide your explanation and justification for how you arrived at the numbers you use in your . In addition to preparing the full cost/benefit analysis (can be with NPV) you can also leverage the ROI, IIR, and Break-Even calculations. There are some for MS Excel that can provide help with these financial calculations. If you haven’t done much of this work before, I encourage you to really dig in as you will get much out of doing the financial work for your project. Finally, you will want to solidify your resource plan from a cost perspective. As your product or service output will be variable, you need to determine how the resources will align to the ups and downs of the output.
Consider this part of the final rubric:
QSO-700-05: Evaluate operational and project management environments using quantitative tools and techniques
Possible Indicators of Success
Does the capstone demonstrate the students ability to critically evaluate overall production and manufacturing capacity based on customer demands?
Does the capstone demonstrate the students ability to forecast operational and product requirements to support product/service launch?
Does the capstone demonstrate the students ability to apply a break-even method of investment analysis within the launch of a product?
Again this week, there is no discussion question.
Please let me know if you have questions or need any help!
Instructor Feedback on ALL 3 MILESTONES & COMPONENTS:
Feedback for 2-2 Milestone One: Product/Service Launch Strategy and Planning Brief
Submission Feedback (Grade A)
Very nice work! This is a great new product idea that fits well into the suite of products offered by PBM. Your Six Sigma methodology with DMAIC phases makes sense and is a good waterfall approach to the project and also provides a host of quality tools and techniques you can include in the product development and in the operation. Your gantt/project task list was well done. As you move forward think about the milestone tasks you want to incorporate (zero duration tasks).
Feedback for 7-1 Capstone Component 1: Product/Service Launch Strategy and Planning
Submission Feedback (Grade A)
Nicely done. This is good to go.
Feedback for 4-2 Milestone Two: and Inventory Management Brief
Submission Feedback (Grade A)
This was very nicely done! You have a good inventory approach and your explanation for the product attributes makes sense. You did an excellent job justifying the capacity of the new pop product and now that you have weekly capacity, you can move forward with estimating the yearly output and for the coming years as an input to your milestone 3 CBA. Great job on the process flowchart – it has the right level of detail, but you will want to incorporate some quality checkpoints along the way as well. Use the decision diamonds to QA the product.
8-1 Capstone Component 2: Manufacturing or Service, Production/Resource Scheduling and Inventory Management
Submission Feedback NOT YET SUBMITTED
Feedback for 6-1 Milestone Three: Financial Assessment and Resource Planning Brief
Submission Feedback (Grade B)
You did a nice job but just a few refinements to consider as you move forward. The product you are proposing must be a new product in addition to the existing products. You are not replacing or improving a product. This is key to examining the capacity. Be sure to adjust this throughout. You missed identifying the estimation approach used and the confidence level of that estimate (e.g., top-down +/- 75%, parametric, analogous, etc.). You want to pull the full CBA together for a period of a few years. This will give you a good understanding of the product return. Finally, saw a few words that were incorrect, so be sure to give a good edit.
9-1 Capstone Component 3: Financial Assessment and Resource Planning
Submission Feedback NOT YET SUBMITTED
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