PROJECT MANAGEMENT:

PROJECT 2

Group 1

Abhiti Patidar - 19021141005

Akshima Gulati - 19021141012
Ameya Telang - 19021141016
Amiangshu Dutta - 19021141017
Anirudh Agrawal - 19021141018
Anmol Sharma - 19021141021
1. Who are the potential stakeholders to this project?
IT department
Finance Department
Marketing dept.
Internal Top management
Employees
Medical Team
Gym
Competitors
External 3rd party producers
Potential customers
IT consultant

2. Define (a) product scope and (b) project scope

Product Scope:
Features:
Product will help as an id for Gym and recreational facilities
It will collect health data automatically as users work out.
User will be able to see his/her data through a mobile App
QR Code to scan and pay gym membership
Bluetooth connectivity for Phone and headphones/Earphones
Music track
GPS
ECG
Oximeter
Solar charging/ kinetic charging

Pricing:
Total Price per watch = $30
Production cost per watch = less than $10
Software cost per watch = less than $10
Marketing and distribution cost per watch = $8
Profit margin = $2
Number of units produced in a year = 20000

Project scope:
Scope Statement
Project Title: Recreation and wellness project (Smartwatch)
Date: 01/01/2021
Project Justification:
 Develop a low cost but productive/efficient health monitoring device/watch for the
employees.
 The watch will act as an additional revenue when sold to people outside of the
company.

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  Increased efficiency in employees.
 Better synergy between employees, customers, employers and external agencies.
 New product with unique features.

Deliverables:
Project Management Related –
 Create new product by collaborating with 3rd party producers
 Create software to operate the watch (IT Consulting firm)
 Communicate the system requirements to both 3rd part producers and IT consultants.
 Test Beta product and take consumer review.
 Create final product from consumer insights.
 Market internally and externally
 Position product using the unique features

Project Success Criteria:

 Tie up with gym and other recreational facilities.
 Efficiency in data collection and analysis
 The price of the watched should be less than or equal to $30.
 Significant increase in health of employees.
 At least 50% employee participation.

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3. Document stakeholder requirements as (a) Capabilities and (b)
constraints.
Stakeholder Capabilities Constraints
Internal IT department Data management Dependency on external
Handling digital parties to make
operations fundamental changes
IT queries
Documenting the product

Finance Budgeting the project Budget overshoot

department Looking for investment
avenues

Marketing Driving sales both New product, limited

Department internally and externally
Competitive analysis
Products pitch
Top Management Success of the project,
Review and analysis of the
project
market acceptance.
Huge pre-existing
competition
Creating a differentiation
Pricing to ensure
additional revenues and
yet being competitive
Budget overshoot,
Dependency on external
parties to make
fundamental changes,
New product, limited
market acceptance.
Huge pre-existing
competition

Medical Team Monitoring health of Irregularity in employee

employees data
Creating a health plan
Motivating the employees
towards healthier lifestyle

Employees Efficient working and Hard to maintain work-life

continuous participation in
achieving company’s goal.
External Gym To enhance the usage and
awareness of fitness
watches among the health
freaks.
Competitors Already exist in the market
with similar product
3rd Party Producers of the hardware
producers of health devices
balance, physical fatigue.
Not able to convince their
customers to use the
device
Niche market offering by
MYH
Production cost
constraints (Not more than
$10/watch).

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Potential Fitness freaks in need of Existing, tried and tested
customers health monitoring devices products available in the
markets
IT consultant Application development Time constraints, cost
according to the project constraints (Not more than
needs. $10/watch).

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4. Identify product requirements for the device. Ensure these requirements
are traceable to the stakeholder requirements.
Stakeholder Capabilities Constraints Product
Requirements
(Intended
Solutions)
Internal IT department Data management Dependency on Must include all the
Handling digital external parties to data analytic
operations make fundamental systems.
IT queries changes
Documenting the
product

Finance Budgeting the Budget overshoot Usage of cost-

department project effective design,
Looking for materials and
investment avenues resources.

Marketing Driving sales both New product, Must have the

Department internally and limited market complete
externally acceptance. knowledge of the
Competitive Huge pre-existing product in terms of
analysis competition features, price and
Products pitch Creating a margins. Should be
differentiation provided with the
Pricing to ensure necessary online
additional revenues and offline material
and yet being to pitch the product.
competitive
Top Success of the Budget overshoot, The manufacturing
Management project, Review and Dependency on process should be in
analysis of the external parties to accordance to the
project make fundamental product lifecycle.
changes,
New product, Allocation of budget
limited market should be done in a
acceptance. proper manner.
Huge pre-existing
competition

Medical Team Monitoring health Irregularity in Error-free

of employees employee data interpretation and
Creating a health monitoring of health
plan statistics of the user.
Motivating the
employees towards

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 healthier lifestyle

Employees Efficient working Hard to maintain Must know how to

and continuous work-life balance, use the product and
participation in physical fatigue. take the benefits out
achieving of it.
company’s goal.
External Gym To enhance the Not able to convince Should understand
usage and their customers to the product in depth
awareness of fitness use the device and be able to
watches among the explain it to the
health freaks. customers.
Competitors Already exist in the Niche market N/A
market with similar offering by MYH
product
3rd Party Producers of the Production cost Accurate design and
producers hardware of health constraints (Not material should be
devices more than used for
$10/watch). manufacturing the
hardware of the
device
Potential Fitness freaks in Existing, tried and Must know how to
customers need of health tested products use the product and
monitoring devices available in the take the benefits out
markets of it.

IT consultant Application Time constraints, Optimal utilization

development cost constraints of resources to build
according to the (Not more than a user-friendly and
project needs. $10/watch). efficient application.

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