Page: The Project Is Progressing Well And You Have Now Been
4 5 Pagesthe Project Is Progressing Well And You Have Now Been Asked
The project is progressing well, and you have now been asked if there is enough time and budget to create and distribute a new marketing mailing. This mailing will be focused on a new international marketplace, so the existing materials cannot be used as is. The materials will need to be translated (external resource), have different graphics applied, and use different colors. The cost for mailing internationally is twice the cost of the domestic mailing, and the volume is 200,000–250,000 addresses. A mailing list will be purchased for this mailing because it is a new market for the company.
You need to determine the costs of this mailing (internal and external). You also need to determine the resource requirements and identify any conflicts. Jennifer and you have a working session later this week to pull together the information. In preparation for the meeting, create a worksheet (in Excel or another spreadsheet tool) that you can use to create the budget for the new mailing. Pre populate the worksheet with the components of the estimate, and provide directions to Jennifer in a procedures document (in Word) on how to create a three-point estimate for the resulting budget.
Be sure to also include the internal costs. Also, create a schedule that identifies the deliverables, activities, and resources to produce this mailing. Using the project schedule you created as a group, identify the resources you will use and what conflicts that may form (in Word). Justify your choices.
Paper For Above instruction
The successful launch of an international marketing mailing requires meticulous planning, comprehensive budgeting, and strategic resource allocation. The current project, which is progressing well, now faces the additional challenge of determining whether enough time and budget are available to support a new mailing targeted at an international market. This paper delineates the process of estimating costs, identifying resource requirements, and scheduling activities to ensure the effective execution of this marketing endeavor.
Cost Estimation for International Mailing
To accurately estimate the costs associated with the new international mailing, it is essential to consider both internal and external expenses. Internal costs predominantly include project management, content creation, graphic design, translation, and printing. External costs encompass the purchase of mailing lists, postage, and distribution expenses incurred due to international shipment.
A detailed worksheet in Excel will serve as the foundational tool to facilitate cost estimation. This worksheet should include line items such as:
- Content creation and review
- Graphic design modifications
- Translation services (external resource)
- Printing costs (variable depending on design modifications and volume)
- Mailing list purchase
- Postage and distribution (double the domestic rate for international)
- Contingency funds (to buffer unforeseen expenses)
Pre-populating this worksheet entails inputting the estimated costs for each component based on historical data, supplier quotes, and market rates. For instance, if the domestic postage rate per piece is $0.50, the international rate will be $1.00. For a volume of 200,000–250,000 addresses, calculations will be done for both ends of the volume spectrum to facilitate decision-making.
To strengthen the accuracy of cost estimates, a three-point estimation technique should be employed. This method involves defining the optimistic (best-case), most likely, and pessimistic (worst-case) costs for each component, then calculating an expected value. Directions for Jennifer on how to perform this estimation include steps to:
1. Gather three cost estimates for each component from relevant vendors or historical data.
2. Input these estimates into the spreadsheet.
3. Use the three-point estimation formula:
\[
\text{Expected Cost} = \frac{\text{Optimistic} + 4 \times \text{Most Likely} + \text{Pessimistic}}{6}
\]
This process will provide a balanced and realistic budget estimate, accounting for uncertainties.
Resource Requirements and Conflicts
Beyond cost considerations, resource planning is critical. The project will need personnel for graphic design, translation, copywriting, and mailing logistics. External vendors will handle translation and mailing list procurement, while internal teams will manage content development and approval. To visualize these activities and resource allocations, a project schedule should be developed, outlining key deliverables such as translated content, graphics, print-ready materials, and shipment.
Potential resource conflicts include overlapping timelines for graphic design and translation, which may delay the review process. Additionally, limited availability of the design team during peak periods could cause bottlenecks. Justification for chosen resources involves selecting vendors with proven track records for quality and punctuality, while internal resources are allocated based on their expertise and current workload.
Scheduling Activities and Identifying Conflicts
The schedule must sequence tasks logically to optimize workflow and mitigate conflicts. Activities include:
- Pre-production planning and scope definition
- Content development and review
- Graphic design and approval
- Translation and localization
- Printing and quality check
- Mailing list acquisition
- Final mailing and distribution
Resources such as graphic designers, translators, and printing vendors will be allocated to respective phases. Critical path analysis will identify potential delays, especially if translation or graphic design runs late. For example, delaying the translation process could hinder timely printing, increasing costs and jeopardizing the campaign schedule.
Conclusion
Effective budgeting and scheduling strategies are vital for the success of the new international mailing. Employing detailed worksheets with three-point estimates ensures realistic cost projections, while comprehensive resource planning and conflict analysis optimize utilization and mitigate delays. Establishing clear directives for team members, such as Jennifer, will facilitate collaborative effort and maintain project momentum.
References
Boehm, B. W. (1981). Software engineering economics. Prentice-Hall.
Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). PMI.
Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
Schwalbe, K. (2018). Information Technology Project Management. Cengage Learning.
Meredith, J. R., & Shafer, S. M. (2019). Project Management: A Managerial Approach. Wiley.
Fitzgerald, B., & Stol, K. J. (2017). Continuous Software Engineering and Beyond: Trends and Challenges. IEEE Software, 34(4), 102-105.
Leach, L. P. (2014). Critical Chain Project Management. Arvade Publishing.
Gido, J., & Clements, J. (2017). Successful Project Management. Cengage Learning.
Heldman, K. (2018). PMP Project Management Professional Study Guide. Wiley.