Project Management > STUDY GUIDE > Capella University - PM FPX 5332PM-FPX 5332_SardaAmber_Assessment1-1.mpp Project Scope Statement (All)

Capella University - PM FPX 5332PM-FPX 5332_SardaAmber_Assessment1-1.mpp Project Scope Statement

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Project Scope Statement Note: Any work not explicitly included in the Project Scope Statement is implicitly excluded from the project. Project Name Cosmo, Inc. Prepared By Amber Sarda Date 02/07/... 2020 Version History (insert rows as needed): Version Date Comments 1.0 2 Project Scope Statement1. Executive Summary Harold Living, Cosmo Inc.’s President/CEO has begun to think proactively after noticing a potential loss of our market share through recent data analysis. He has enrolled the help of the Project Management department and tasked them with creating a proposal that would outline our overall goal in the upcoming sale year. Mr. Living stressed the significance of developing new merchandise for our customers. The following inclusion will guide you through Mr. Living’s plan for increasing Cosmo Inc.’s sales and keeping us ahead of our competitors, which involves a high-paced 10 week timeframe for completion, a limited budget of $150,000 and the development of a brand new product. Note: In any instance where there is a discrepancy between the Project Charter and the Project Scope Statement, the latter is considered authoritative. 2. Business Objectives 2.1 Product Description Currently holding 33% of the market share, Cosmo Inc. is a leader in the distribution and development of wearable technology focusing in fitness coaching, nutritional coaching, and lifestyle advising products. Due to the rise of our competitors, Harold Living recognized potential loss of future earnings for Cosmo, Inc. after a recent market analysis. Senior management is proposing a new aggressive marketing approach which includes incorporating the latest technology into our products. This will allow Cosmo, Inc. to evolve with the current marketplace and will increase our value and market share. 2.2 Business Objectives  Increase production of wearable technology by 25%  Use a marketing plan to increase our customer base by 20% by focusing on a segment market niche  Utilize social media platforms and data analysis to identify potential customers  Incorporate IoT in our products that are comparable to our competitors  Innovate new and affordable wearable technology  Develop and introduce a Customer Service department focusing on establishing newproduct support services. [Show More]

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