February 16, 2015
Project Management E-Mail
To: Ray Gritsch
Subj: RE: Project Recommendation
Dear Mr Gritsch:
My project team thanks you, and Mr. Deirelein, for the opportunity to provide the company with a recommendation for your next venture. We have closely reviewed the information provided to give a solid endorsement for project development.
Based on the requirements given, most notably to be a producing project within twelve months, our recommendation for Piper Industries, Corp., is to develop the Palomino project for one of its strategic customers. Palomino is a medium risk investment for Piper, which uses the existing technology of the company. Analyzing the cost-benefit of Palomino, this project can be in production within nine months, with an estimated investment payback period of six months. The Stargazer project is riskier and cannot ensure production within the required time period. As well, the Juniper project could be in production within six months, but expects to make only 45% of the return on investment that Palomino can make. Palomino’s return on investment in its first three years is projected at $1,350,000.
After choosing a project for development, it is important that everyone involved understand the process of bringing a project to fruition. I provide the following short explanation of the project phases as potential talking points for your upcoming Project Management Office Review.
According to Taylor (2006),
Conception – An idea for a project is examined and determined if it can be beneficial for the company. The project is defined in accordance with the customer's requirements, and the specific deliverables are identified.
Development – The project team is chosen. The team will develop the project plans for implementing, monitoring, and controlling the project. This will include a