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Describe the five phases of a project

Review the Project Management email. Added example email letter that is require to be response as per instructions below: Write an email response in which you address the following points: •Determine which project might be implemented and why (e.g. feasibility study, breakeven analysis, etc). •Describe the five phases of a project •Describe the key deliverables associated with the selected project(s). Added also how the response will be graded. please follow the grading process of this assigment University of Phoenix Material Project Management E-Mail Dear Project Manager: We have three project proposals to consider in next week’s Project Management Office’s (PMO) Review. Piper Industries Corp. needs the projects to be complete and to be generating revenue within 12 months of next week’s PMO Review. Wendell Deirelein, our vice-president, has assigned your team to analyze the three projects below and make a recommendation on which project the company should invest in. The recommendation must include your team description of the five phases of the project and the key deliverables (project completion date and cost) for each project. Project Code Name: Juniper • This is an enhancement of a current widget being offered by our company. • Risk of completion of this project on time is low. • Product plan shows the critical path to be 6 months at a cost of $325,000 to bring the product to market. • Product is forecasted to have a ROI of $250,000 for a period of 2 to 3 years. • The third year is forecasted to be the end of life for this product line due to advances projected in technology. • This is a standard product line that marketing believes many customers will want to purchase. Project Code Name: Palomino • This is a new line of widget products including enhancements using existing technology. • Risk for completion of this project on time is medium. • Production plan shows the critical path to be 9 months at a cost of $655,000 to bring the product to market. • Product is forecasted to have a ROI of $450,000 for a period of 5 years. • This product will be a custom part for one of your strategic customers—historically the forecasts from this customer have a 5% margin of error. • The seventh year is forecasted to be the end of life for this product by the customer. Project Code Name: Stargazer • Research and development has already started on our new widgets. The company has spent $450,000 on this product so far and the estimate to bring this product to market is $575,000. • Risk of completing this project on time is high. • Product is forecasted to have ROI of $300,000 first year; $550,000 the second year; and $750,000 the third year. • The product life is forecasted to be 7 years for this product. (This forecast included derivative product which will cost more). • By delivering such an innovative product to the market place first, your organization will be seen as a leader in this industry. • Your sales and marketing teams have discussed this type of product with a few of your strategic customers; while some are interested, there are many questions about the business. Sincerely, Ray Gritsch Piper Industries Corporation Individual Assignment: Project Management Recommendation Purpose of Assignment The Project Management Recommendation assignment is designed to provide students with a context that is realistic in requiring them to develop an email response. The response allows students to convey the information in a less formal format but still including the relevant information as it pertains to actually selecting a project and determining the criteria for selection rather than going into the specifics of project management. Resources Required Project management request email. Grading Guide Content 70 Percent Met Partially Met Not Met Comments: Paper is written as an email response 2 1.5 0.75 Email includes a determination of which project is to be implemented and an explanation as to why 2.7 2 1 Email includes a description of the five phases of project management 2 1.5 0.75 Email includes a description of the deliverables to be associated with the project. 1 0.75 0.37 The paper is no more than 750 words in length. N/A N/A N/A Total Available Total Earned 7.7 X/X Writing Guidelines 30 Percent Met Partially Met Not Met Comments: Intellectual property is recognized with in-text citations and a reference page. 1 0.75 0.37 Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. 1 0.75 0.37 Sentences are complete, clear, and concise. 0.65 0.50 0.25 Rules of grammar and usage are followed including spelling and punctuation. 0.65 0.50 0.25 Total Available Total Earned