Running head: PROJECT PROPOSAL 1 PROJECT PROPOSAL 2 Project Proposal for new product “ShareMarket." Student’s Name Institutional Affiliation Project Proposal ABC company is a software development company located in San Fransisco, California. It specializes in the design of business-oriented software like Enterprise Resource Planning Systems, customer relationship management systems, marketing, and sales management systems, among other software used to perform different activities within the business environment. Purpose and Objectives ABC has come up with a new software called ShareMarket that leverages on the power of social media to market products. The digital marketing landscape is increasingly becoming sophisticated, with businesses relying on major data companies like Google and Facebook for marketing insights. These data companies take away the autonomy of information of companies. The ShareMarket is a specially designed software that will be used to analyze company data on social media sites and creating reports that can be used to drive digital marketing strategies. This software will be available both on-premise and also on cloud-based services. Assumptions and Benefits In developing this software, ABC assumes that no other company has attempted such a project. This is important, especially when considering intellectual property rights. ABC also makes the assumption that the product will be easily feasible with cloud computing technology, among other new technology such as Big Data, as these are the current market trends in software development. Assumptions are also rooted in the cost estimates for the project. ABC uses an average cost estimation method that estimates costs based on current market costs of developing software. It is assumed that these costs will remain fairly constant throughout the project and will not be subject to economic changes. By undertaking this project, ABC stands to fill a market gap for smaller businesses that cannot access the proprietary functions of Google's and Facebook's marketing tools. ABC stands to increase its profit margin by having one more product on its portfolio. Another advantage is that ABC gets to acquire control of ShareMarket as a product. As such, they may dictate the price of the product from the start, and even when new companies decide to make the software. Constraints Despite the immense financial benefits of ShareMarket, ABC will have to deal with competition from already existing digital marketers. Information leakages may hamper the product's success as it would take autonomy away from ABC. Another constraint exists in the costs of implementation, which may be high, given that some outsourcing may be required. Preliminary list of activities 1. Project scope definition 2. Requirement definition 3. Cost Estimation 4. Scheduling 5. Risk analysis 6. Selecting the Delivery platform 7. Selecting Development tools 8. System modeli.