- Feasibility analysis
With the development and implementation of the XY project, there are advantages and disadvantages.
The XY project will increase the proceeds of Never Ending Scope Creep as shown below;
Total additional project cost estimates 1851504
Total labor estimate 642000
Discount 5 percent of 2,493,504 124,675.2
Cost sent to XY department 2,368,828.8/12 197,402.4
Benefits each month from implementation of the project 12 percent of 2,493,504 = 299,220.48
The cost benefit of implementing,
The XY project requires incurring of additional costs required in training and support of the staff.
Since the project is cost effective, it is recommendable that the management of Never Ending Scope Creep executes it.
- In regard to the challenges that the XY project is likely to face, it is advisable that the management adopts strategies that will ensure a smooth running of the project implementation. To solve the challenge of Complete Requirement Analysis, the management ought to first identify all pertinent stakeholders who are involved in this project from diverse perspectives and pinpoint their all their needs and make sure that they comprehend the new project`s implications in Never Ending Scope Creep. Furthermore, the project implementers will need to employ a number of techniques such as carrying out interviews, prototyping, and usage of cases, creating requirement lists and workshops in order to bring out stakeholders’ viewpoints and requirements so as to assist in incorporating their needs and concerns.
On the other hand, the management of Never Ending Scope Creep will have to either seek for long term internal or external funding so as to solve the budget requirements challenge. These funds will supplement the available funds for the purchase and implementation of the XY project. External long-term funding will be favorable in this case as it will enable the Never Ending Scope Creep to have a flexible payment as well as utilize some of the proceeds that will be realized from the project to facilitate payment.
- The estimated cost for three months is 197402.4 multiplied by 3 months which is equivalent to 592207.2. This figure is more than the actual cost, 512000. This implies that Never Ending Scope Creep is able to finance the project. However, the excess funds should be directed to other investments or be used to finance the debts if any or may be set aside to cater for any deficit that may in the course of the implementation of XY project.