Running head: PROJECT OBJECTIVES AND METRICS 1
PROJECT OBJECTIVES AND METRICS 4
Project Objectives and Metrics
Project Objectives and Metrics
Explaining why the opportunity/threat was selected, and how it is anticipated to benefit the organization
It is important to carry out SWOT analysis before rolling out projects. This allows the project manager to identify areas that need to be improved. By implementing correct techniques for analysis, it is possible to ensure that the project will be completed on time and within budget. The opportunity was selected to assist the project manager to improve the whole project. This will beneficial to the organization in that it better efficiency. Threats were identified to help the organization to mitigate risks that are associated with various project tasks and optimize the whole process. Every aspect of risks involved is evaluated and each risk can be eliminated prior to its occurrence. Selecting opportunity is also anticipated to benefit the organization in that it gives a strong conclusion on what the project will end up.
Creating at least 3 measurable project objectives based on my analyses
Project Objective
Project Manager
Project Coordinator
Project Evaluator
To ensure successfully roll out the of project within one week
C
R
I
To ensure that half of the project deliverables are met within a period of three months
C
A
C
To ensure that the project is completed by the end of six months
A
I
R
R: Responsible
A: Accountable
C: Consulted
I: Informed
Explaining why the objectives are appropriate for the project
The objectives are appropriate for the project because it will guide all the project activities. The objectives will also ensure optimal use of resources allocated for the project. It will also act as a benchmark to measure whether the all the deliverables have been met. These are also appropriate for the project in that it will be used to monitor the schedule of the project to ensure that the project runs as scheduled hence avoiding situations of having to extend the schedule of the project due to delays.
Developing two metrics to evaluate achievement of each of the project objectives
There are two metrics that will be used to evaluate achievement of each of the project objectives. They include value of deliverables/output and satisfaction of the project stakeholders. These are appropriate metrics for each of the objectives. The final outcome of the project is supposed to meet the initial aims of the project as outlined in the scope of the project (Lock, 2017; Rose, 2013). The project’s objectives will be considered to have been achieved if the value of the output is high. On the other hand, if the value of the deliverables is low then it means that the some of the objectives of the project have not been met. The second metric that will be used to evalua.
1. Running head: PROJECT OBJECTIVES AND METRICS
1
PROJECT OBJECTIVES AND METRICS
4
Project Objectives and Metrics
Project Objectives and Metrics
Explaining why the opportunity/threat was selected, and how it
is anticipated to benefit the organization
It is important to carry out SWOT analysis before rolling out
projects. This allows the project manager to identify areas that
need to be improved. By implementing correct techniques for
analysis, it is possible to ensure that the project will be
completed on time and within budget. The opportunity was
selected to assist the project manager to improve the whole
project. This will beneficial to the organization in that it better
efficiency. Threats were identified to help the organization to
mitigate risks that are associated with various project tasks and
optimize the whole process. Every aspect of risks involved is
evaluated and each risk can be eliminated prior to its
occurrence. Selecting opportunity is also anticipated to benefit
the organization in that it gives a strong conclusion on what the
project will end up.
Creating at least 3 measurable project objectives based on my
analyses
Project Objective
Project Manager
Project Coordinator
Project Evaluator
To ensure successfully roll out the of project within one week
C
R
I
To ensure that half of the project deliverables are met within a
2. period of three months
C
A
C
To ensure that the project is completed by the end of six months
A
I
R
R: Responsible
A: Accountable
C: Consulted
I: Informed
Explaining why the objectives are appropriate for the project
The objectives are appropriate for the project because it will
guide all the project activities. The objectives will also ensure
optimal use of resources allocated for the project. It will also
act as a benchmark to measure whether the all the deliverables
have been met. These are also appropriate for the project in that
it will be used to monitor the schedule of the project to ensure
that the project runs as scheduled hence avoiding situations of
having to extend the schedule of the project due to delays.
Developing two metrics to evaluate achievement of each of the
project objectives
There are two metrics that will be used to evaluate achievement
of each of the project objectives. They include value of
deliverables/output and satisfaction of the project stakeholders.
These are appropriate metrics for each of the objectives. The
final outcome of the project is supposed to meet the initial aims
of the project as outlined in the scope of the project (Lock,
2017; Rose, 2013). The project’s objectives will be considered
to have been achieved if the value of the output is high. On the
other hand, if the value of the deliverables is low then it means
that the some of the objectives of the project have not been met.
The second metric that will be used to evaluate the achievement
of the project objectives is the stakeholder satisfaction. If the
3. project stakeholders are interviewed and they state that they are
satisfied with the deliverables of the project, then that particular
project will be deemed to have achieved its objectives (Mir &
Pinnington, 2014). On the other hand, if the stakeholders are
unsatisfied with the outcome of the project, then it means that
some of the objectives were not achieved. These metrics are
therefore important in that they are used to measure extent to
which project objectives have been met. These metrics are also
appropriate in that they guide the manner in which project tasks
are to be executed (Raymond & Bergeron, 2008).
References
Lock, D. (2017). The essentials of project management.
Routledge.
Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of
project management: linking project management performance
and project success. International journal of project
management, 32(2), 202-217.
Raymond, L., & Bergeron, F. (2008). Project management
information systems: An empirical study of their impact on
project managers and project success. International Journal of
Project Management, 26(2), 213-220.
Rose, K. H. (2013). A Guide to the Project Management Body
of Knowledge (PMBOK® Guide)—Fifth Edition. Project
management journal, 44(3), e1-e1.
Apple Inc Project Metrics
4. RUNNING HEADER: Apple Inc Project Metrics
1
Apple Inc Project Metrics
2
Apple Inc. Project Metrics
What is next for the technology giant Apple? Apple Inc.
has been able to rapidly introduce new and innovative new
products before the marked even knew they wanted it. This
level of groundbreaking product release has given Apple
unbeatable brand equity. By determining its next project,
objectives and metrics are vital to keeping the brand alive and
relevant. Extended reality is a developing technology that has
created an unmet opportunity for Apple Inc.. The company
needs to invest in the development of Extended reality products
and wearables to advance its goals, which will grow its
competitive advantage.
Opportunity
According to the Strengths, Weaknesses, Opportunities,
and Threats (SWOT) analysis, Apple Inc.’s greatest strength is
its brand equity. Apple Inc. is a well known and loved brand
coupled with its ability to rapidly innovate new products for
consumer demands of emerging technology makes Apple Inc. a
giant in its industry (Rothaermel, 2019). Apple Inc.’s SWOT
analysis also indicates its opportunities include continued
innovation and expansion into current and new product lines.
Taking Apple Inc.’s strength and opportunity into
consideration, it is no question that Apple Inc. could
successfully launch a new project line. A growing trend in
consumer electronics is Extended Reality (Marr, 2019). Apple
5. Inc. can leverage this expanding interest and introduce a
complimentary Extended Reality product to keep up with
consumer demands while maintaining or to grow its competitive
advantage.
Apple Inc. will benefit from embarking on a new project based
on extended reality. The extended reality project will contain
three primary objectives. These goals would include software
and coding, engineering and development, integration of
advanced technology into Apple Inc.’s long term goal. The
extended reality project must be completed for Apple Inc. to
keep up with current technology trends; if not they run the risk
of falling behind the curve and losing customers (Marr, 2019).
The project will also serve Apple Inc. by adding value to
already existing product lines while enticing new customers to
buy not only the extended reality products but also other
products currently produced (Rothaermel, 2019). Finally, this
project will benefit Apple Inc. by propelling the company into a
closer, completed version of its long-time goal of a fully
autonomous driving car (Apple Inc., n.d.).
Project
The first objective to manipulate current software and coding
that would allow the fusion of an extended reality product into
their existing product lines such as the iPhone, gaming apps on
Arcade App store, and Apple HomeKit. The second objective is
to engineer and innovate current technology into complementary
wearables to include full headsets and or glasses with extended
reality capabilities that seamlessly integrate with current Apple
products and games. The final objective would use this newly
developed software and hardware and apply them toward Apple
Inc.’s long term goal of fully autonomous driving cars.
Extended reality will launch Apple Inc. into a new and unmet
opportunity both within its company and in the industry.
Completion of these objectives requires the project to follow the
timelines and responsibilities outlined in the following
Responsibility Assignment Matrix or RACI Chart (Haworth,
2018).
6. RACI
Tim Cook
CEO
Craig Federighi
SVP Software Engineering
John Giannandrea
SVP
AI Strategy
Jonathan Ive
Chief Design Officer
Dan Riccio
SVP Hardware Engineering
Software
Informed
Responsible
Consulted
Accountable
Informed
Hardware
Informed
Consulted
Consulted
Accountable
Responsible
Apple Car
Informed
Consulted
Responsible
Consulted
Accountable
Determination of timelines for this scope of a project will occur
at benchmarked accomplishments in each area’s objective.
Through this RACI Chart, every step of the project requires a
constant flow of information to CEO Tim Cook. The Senior
Vice President (SVP) of each discipline and their department
will be responsible for the completion of that department's
7. aligned goal while keeping lines of communication of
information and consultation open within departments (Apple
Inc., n.d.).
These objectives are appropriate for the project because the
goals align with project completion. These goals are also broad
in scope and leave room for individual innovation for the
greater good of the company. The project's generalized goals of
this project initiate the top-down planning by Apple Inc.
executives; however, it does not tighten the project planning to
a point where bottom-up emergence is impossible (Rothaermel,
2019). Allowing the creative minds that Apple Inc. hires to
fully have the capabilities to explore and invent their ideas.
The completion of this extended reality project will expand
Apple Inc.’s current competitive advantage. Currently, there is a
vacancy in the extended reality niche within the industry. Apple
Inc. filling this void will give Apple products a more substantial
perceived value to its current customers as well as future buyers
(Rothaermel, 2019). Furthermore, completion of this project
will aid in Apple Inc.’s ability to advance toward its long-time
goal of the development of a self-driving car.
Metrics
An extended reality project will require time and resources
to accomplish. The length of requires this project's
achievements to be evaluated by each stage of the project's
objectives. Metrics will be used to determine if Apple Inc. is
meeting the strategic goals of the extended reality project. To
measure these, Apple Inc. should use the balanced scorecard
method and economic value creation to calculate achievement
and the companies competitive advantage.
The balanced-scorecard approach will ask and answer the
questions of how customers and shareholders view Apple Inc.,
how the project is creating value, and what core competencies
are needed? This methodology is appropriate during all three
objectives of the extended reality project. This metric will
particularly help during the manipulating and creating current
and new software objectives by answering the question to the
8. metric of what the consumer thinks of Apple Inc. It will give
Apple Inc. insight into future production, needed services,
production costs, and pricing (Rothaermel, 2019). Determining
the customer perspective during software and coding
development will allow Apple Inc. to evaluate where the
software is versus where the customer demands it to be. It will
also be vital to address why core competencies exist and what
needs further development (Rothaermel, 2019). These internal
and external metrics will give Apple Inc. a balanced-score card
view of their competitive advantage.
The economic value creation method is also an appropriate
measure to evaluate during the production of the product. At the
product engineering objective, it will be vital to understand
what the consumer is willing to pay and how much it will cost
to produce the extended reality wearables. Economic value is
the difference between the cost and what the customer is willing
to pay. This value is directly related to Apple Inc.’s competitive
advantage.
Both of these metrics combined will be needed to advance
toward the project’s final objective. The evaluation of the
internal and external forces of the balanced scorecard will be
required to further progress toward the creation and ultimate
release of the Apple Car. Continuing to evaluate the customers’
and shareholders’ view of Apple Inc. will be imperative. If the
long-term goal of Apple Inc. is to develop a self-driving car
monitoring these aspects will determine how much research and
development can be continued to invest in the goal.
The progress made throughout each of these objectives
will be a hard task. How does one determine the success of a
project when the bar to measure it has not just been moved the
bar is reinvented in its entirety. To measure the progress of each
objective Apple Inc. will have to get creative when analyzing
each goal.
While reengineering current software and coding, Apple
Inc. can measure their progress by periodically receiving
feedback from current IOS users. In doing so, Apple Inc. will
9. determine if changes to the interface create value or frustrate its
users. This will tie directly into the balanced scorecard as well
as economic value creation.
During product engineering and hardware, development
progress can be measured by conducting focus groups with
existing and new customers. These selected individuals can use
prototyped full-headsets and or eyewear. This will enable
feedback from the market on use, feel, portability, and many
other characteristics of the wearable. This progress will also tie
directly into the competitive advantage calculations through
balanced-score cards as well as economic value.
Lastly, conducting market surveys to both current and potential
customers can measure the progress of a fully autonomous car.
These surveys can ask and answer questions about the desire to
obtain this “coming-soon” product. Dependent on the buzz and
consumer demand for the Apple Car, the company will have a
good idea of limits of cost to produce as well as what the
consumer will spend and want.
Conclusion
Apple Inc.’s ability to swiftly launch new products to stay
ahead of trends and raise the bar in current trends is
astronomical. Apple Inc. cultivates the talent to introduce
products that have pioneered this generations technology
advancements. Investment into extended reality as the
companies next project will add to their legacy. Extended
reality is a niche in the industry as of yet is an unmet
opportunity primed for profit. Through the objectives of
manipulating current software and coding, engineering of
hardware, and advancing the companies long-term goal, this
project's objectives fit well with Apple. Using balanced
scorecards and economic value creation Apple Inc.’s investment
into extended reality products and wearables to advance its
company goals, while measuring current successes. Launching
an extended reality project will increase Apple Inc.’s
competitive advantage.
10. References
Apple Inc.. (n.d.). Retrieved from https://www.apple.com/.
Haworth, S. (2019, November 9). Create A Responsibility
Assignment Matrix (RACI chart) That Works. Retrieved from
https://thedigitalprojectmanager.com/raci-chart-made-simple/.
Marr, B. (2019, October 18). The 7 Biggest Technology Trends
In 2020 Everyone Must Get Ready For Now. Retrieved from
https://www.forbes.com/sites/bernardmarr/2019/09/30/the-7-
biggest-technology-trends-in-2020-everyone-must-get-ready-
for-now/#cea5ebc22615.
Rothaermel, F. T. (2019). Strategic management (Fourth). New
York: McGraw-Hill Education.