Online Collaboration Tool Overview

Introduction

The new online and collaborative tool works on allowing the user to meet or share the needed documents through a web based platform. The collaborative tool additionally works on joining a meeting through phone or through web based link. The current marketing plan works on providing a brief idea about the project milestones and the possible ways that can be implemented in achieving the same. For those looking for support, marketing dissertation help can offer insights into effectively implementing these strategies.

However, before possibly developing a marketing plan, it becomes equally important to understand the scope of the project and the possible profitability that can be earned through it. Citing the current condition of pandemic and the possible aftermath of the same, it would be fair enough to conclude that work from home or even remote locations are a real thing. The corona virus case is giving a new meaning to the social distancing aspect. There remains an increase in the use of online web-based applications to communicate for business needs. The purpose of the current project is to develop a cost effective, and most importantly a user friendly software application that works on ensuring a clean and easy mode of corporate communication.

Project milestone

End Goal: Increase Sales of the chosen software by 25% with positive return on investment

Milestone #3: Optimize campaigns and increase the sales by 50%

Milestone #2: Launch social media ad campaign; which helps in learning the needs of customers

Milestone #1: Research and implement the much needed sales conversion and tracking tools

SMART Objectives

The amalgamation of a cost effective, unique design allows the business to establish 3% market share in the first year of establishment of the project, within the first year

Specific: To design cost effective software to establish online communication a trend

Measurable: The mentioned objective can be rightly measured by tracking the level of sales and making use of conversion tools

Achievable: Can be achieved by developing and running social media campaign to target the right kind of audience

Reliable: Allows the business to grow within a stipulated period of time and gain the much needed economic support

Time bound: 1 year

Analysis and types of investment

The current project really is a great investment, greatly interesting to consider that it would mean to take up the decision to invest in the current project with the same rigor, with which the investor is likely to be approached for investing in securities (Badewi, 2016). One can clearly envision exchange of words between investment broker and investor, within which the investor tries to understand the terms and conditions associated with the investment. However, it should be investment appraisal that needs to be mentioned for ensuring the right kind of investment (Paquin, Gauthier and Morin, 2016). The investment analysis is the analysis carried out to consider while considering the possible profitability of investment over the asset parallel along the strategic fit and affordability.

The aspect of project funding is a means which the money needed to undertake a possible project (Bondarenko et al. 2018). The funding for standalone projects may be financed through single source or several investors. The governance of the projects varies as per the needs of the project. Furthermore, it can be rightly concluded, decisions related to investment needs to be made by the governance, justifying the investment within the project. It works on providing the right kind of justification and much needed rationale, for spending the limited resources, depending on the dynamic investment appraisal (Eroshkin et al. 2017). The decision related to investment, is supported by several elements, including the following:

Affordability: It works on understanding the possible benefits delivered within the scope of available funds of the marketing project, when perceived as part of the wider perspective (Bondarenko et al. 2018).

Return on investment (ROI): It is important to understand the possible return on invest and keep it positive for better profit margins, provided that the given operational costs and forecasted capital benefits over the economic life of the online communication software application (Badewi, 2016)

Potential stakeholders

End users and beneficiaries are the prime and unique stakeholders in the mentioned case. These are the people, who are most likely to be directly influenced by the software. Irrespective of the user friendliness of the software, if the end users do not like the software they will not buy and use it. The end users can be divided as follows:

Direct users

Make use of the software tool directly and are highly concerned about the possible ways it will influence their current workflow dynamics. These stakeholders wish to know that the chosen software tool solves their problem or works on making their job easier (Chakkalakal, 2019).

Secondary users: These stakeholders rely on the software products. The software needs to produce a result that fits into the workflow of these stakeholders. The stakeholders rely on reports in such a format that secondary users fail to generate their analytics

Beneficiaries: This group of stakeholders comprises of a huge base of vendors and customers focusing on the results rather than the process. The input by these stakeholders rotates around the information or services that the software will provide

Project build team

A good team works on balancing between reality and dreams, unrealistic expectations can always ruin the expected project outcomes. The job of this group of stakeholder is to meet the business objectives. Individual member of the team has different focus for ensuring the software tool meets the expected outcomes:

Managers and company liaisons discussion about the scope, budget and timeline of the project (Di Maddaloni and Davis, 2017)

Project managers Provide a clear understanding about the project development process while keeping track of the operations and maximizing the level of efficiency of the project. The prime objective of this group is to create a solid product for client satisfaction (Di Maddaloni, F. and Davis, 2017)

Developers develop the software and wait for the much needed feedback from the client. These stakeholders have the much needed expertise to advice the project executives about the features that are feasible and the expected time to build the same

WBS

REFERENCE LIST

Badewi, A., 2016. The impact of project management (PM) and benefits management (BM) practices on project success: Towards developing a project benefits governance framework. International Journal of Project Management, 34(4), pp.761-778.

Bondarenko, S., Lagodienko, V., Sedikova, I. and Kalaman, O., 2018. Application of project analysis software in project management in the pre-investment phase. Journal of Mechanical Engineering and Technology, 9(13), pp.676-684.

Chakkalakal, S.S., 2019. Influence of Stakeholders on Project Time Overrun. International Research Journal of Engineering and Technology (IRJET), 6(02).

Di Maddaloni, F. and Davis, K., 2017. The influence of local community stakeholders in megaprojects: Rethinking their inclusiveness to improve project performance. International journal of project management, 35(8), pp.1537-1556.

Eroshkin, S.Y., Koryagin, N.D., Kovkov, D.V., Panov, D.V. and Sukhorukov, A.I., 2017. The paradigm of the integration of different types of management information systems in investment and construction company implementing the project approach. Procedia Computer Science, 103(C), pp.605-608.

Paquin, J.P., Gauthier, C. and Morin, P.P., 2016. The downside risk of project portfolios: The impact of capital investment projects and the value of project efficiency and project risk management programmes. International Journal of Project Management, 34(8), pp.1460-1470.