Project Management

Dear Ray Gritsh,

An analysis was completed by our team on the information that was provided to us. We recommend that Piper Industries Corp. pursue the Palomino project for future investments. This conclusion is based on risk involved, feasibility study, return on investments, and break even analysis. The requirements for the project has to be completed and should start generating revenue within the next 12 months, per Piper Industries Corp. You will find below a detail description of the different phases of a project and then an analysis of all three projects, followed by our recommendation.

Phase of a Project

A project is derived from five different phases, from start to finish. (http://www.proectingsight.net/project-management-basics/basic-projectmanagement-phasis).

Project conception and initiation

Defining the project accomplishments is the purpose of this phase. This phase is critical for those who will deliver the product/service, for those who will use the product/service, and those who have a stake in the project to reach agreement on its initiation (http://pmstats.dis.arkansas.gov/Meth/05-Initiation%20phase.pdf). The idea of this phase of the project is to analysis to see how beneficial it is to the business.

Project Definition and Planning

Defining the project scope and its activities, is the purpose of this phase. In order to complete the project, outlines of the task have to be performed. The team should prioritize the project, determine what resources are needed, and calculate a budget and schedule. (http://www.projectinsight.net/project-management-basic/basic-project-management-phase).

Project launch or execution

This phase defines project activities are started to be executed. The project manager's attention is directed from planning to execution. Constant monitoring of project risks is required during this phase.

Project performance and control

Progression is measured during this phase. The statuses of the current and actual...