BUS30009: Industry Consulting Project.

BUS30009: Industry Consulting Project
Assignment 1A: Preparation of the project brief
To assist you with the preparation of the Project Brief, we have provided a
template that you can use to prepare your project brief. You will see under each
heading some tips and prompts that will help you prepare your response.
Project title:
Fundraising for Launch of Easy Eddy Paddle Board in Australia
Introduction:
Crowdfunding is a process in which donations from various people are gathered with
aim to fund the launch a particular product or service. For Easy Eddy, a new paddle
board has been designed with a very unique concept and build but there is not
sufficient fund available for initiating production on a commercial level. Hence, Easy
Eddy has initiated a kickstarter fundraising campaign in which funds will be raised
through crowdfunding in a website. The funds raised will be used for production and
launch of the product such that the customers are able to order and purchase the
products from the company.
This report is based on the discussion and analysis of proposed kickstarter project for
raising funds for launching Easy Eddy in Australia.
Overview and summary of the Kickstarter project:
The project is about the initiation of commercial production and delivery of a new
model of paddle board that has a soon to be patented unique design. The paddle
board in this project can be easily into three different pieces that can be assembled
back within just a minute. In addition, there is a host of new features like retractable
fin, waterproof space for storing valuables like wallet, mobile phone and others while
surfing and others. Furthermore, the material used building this board is recyclable
and hence, the design is sustainable.
However, for commercial level production, funding is required as it is a start-up
company and the production of the paddle board is very expensive. Hence, the
project has been registered in Kickstarter where the company expects to generate
sufficient cost for commercial production through crowd funding.
In order to allow the customers to generate an idea about the new product, try the
same and contribute to the fund, the company has released some demo models to
some selected interested customers. The reviews have been extremely positive as
all the customers have said that they had very convenient and wonderful
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BUS30009 Assignment 1A Preparation of the project brief
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experiences while surfing. This has encouraged the company to go ahead with the
commercial production of the paddle board.
Project drivers and project constraints:
The main driver of this project is to make a profit that will be generated through the
sales of the stand up paddle boards with a very unique design. The company has
allowed some selected customers to use the board on demo basis and all reviews
have been positive.
On the other hand, the main constraint is that it is a start-up company and there is a
lack of funding for the project. The company owners have invested enough to
develop testing and demonstration versions that have been used by the selected
customers. However, in order to initiate commercial production of the board, there is
not enough funding. In addition to funding, the time is another major constraint as
once the funding is available, production has to be done at a rapid pace in order to
fulfil the demands of the customers. The scope of the project is also a source of
constraint as this funding is for launch of the product only – a purpose that may not
attract may potential investors.
Another main constraint for the project is the high retail price of the board. While the
prices of regular paddle boards in USA range from $1500 to $3000, this new modular
three piece paddle board is set at a price of $5000, which is extremely high
compared to the regular paddle boards. Hence, even though there is sufficient
funding to start commercial production, the high pricing of the boards will impact the
sales that will in turn result in lack of sufficient profit on the product. Thus, although
most of the customers have been interested in buying the board after
demonstration, it is unsure how many customers will be able to purchase the board
at such a high price. If there are not sufficient sales, there will be lack of profit that
will in turn affect the production in the next lot.
Project proposal:
The project requires a kickstarter campaign for crowdfunding that will be utilised for
initiating the commercial production of the new modular three piece paddle board
that has attracted significant interest from the customers. In order to conduct the
project, the following work breakdown structure is developed along with the
proposed project schedule.
Task Name Duration Start Finish
Kickstarter Campaign for Crowdfunding for Easy Eddy 138 days Wed 24-07-19 Fri 31-01-20
Project Planning 24 days Thu 22-08-19 Tue 24-09-19
Hire Media Team for Campaign 4 days Thu 22-08-19 Tue 27-08-19
Hand Out the Proposal for Project Details 1 day Wed 28-08-19 Wed 28-08-19
Develop Detailed Campaign Plan 5 days Thu 29-08-19 Wed 04-09-19
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BUS30009 Assignment 1A Preparation of the project brief
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Consider Websites for Initiating Crowdfunding Plan 2 days Thu 05-09-19 Fri 06-09-19
Develop Schedule for the Project 2 days Mon 09-09-19 Tue 10-09-19
Allocate Budget for Conducting the Campaign 2 days Wed 11-09-19 Thu 12-09-19
Assess Risks Related to the Campaign 3 days Fri 13-09-19 Tue 17-09-19
Develop Risk Management Plan 3 days Wed 18-09-19 Fri 20-09-19
Develop Proper Communication Plan with the Donators 2 days Mon 23-09-19 Tue 24-09-19
Green Light to Proceed 0 days Tue 24-09-19 Tue 24-09-19
Project Execution 71 days Wed 25-09-19 Wed 01-01-20
Develop Online Website for the Company 15 days Wed 25-09-19 Tue 15-10-19
Insert Content in the Website Regarding Company and
Product Information 5 days Wed 16-10-19 Tue 22-10-19
Generate Company Profile among Customers through the
Website 10 days Wed 23-10-19 Tue 05-11-19
Register for Crowdfunding in Kickstarter Website 2 days Wed 06-11-19 Thu 07-11-19
Add Relevant Company Details 5 days Fri 08-11-19 Thu 14-11-19
Add Content Regarding Why the Funding is Necessary 10 days Fri 15-11-19 Thu 28-11-19
Set Minimum Value for Donation 2 days Fri 29-11-19 Mon 02-12-19
Set Minimum Value Required to Initiate Commercial
Production 2 days Tue 03-12-19 Wed 04-12-19
Add Content Regarding Rewards for the Donators 5 days Thu 05-12-19 Wed 11-12-19
Start the Campaign 0 days Wed 11-12-19 Wed 11-12-19
Promote the Campaign through Social Media 15 days Thu 12-12-19 Wed 01-01-20
Collect Donations through Online Payments from the
Donators 15 days Thu 12-12-19 Wed 01-01-20
Project Closing 22 days Thu 02-01-20 Fri 31-01-20
Close the Campaign Once Sufficient Amount is Generated 2 days Thu 02-01-20 Fri 03-01-20
Review the Success of the Campaign 4 days Mon 06-01-20 Thu 09-01-20
Ship Out Reward Packages to the Donators 6 days Fri 10-01-20 Fri 17-01-20
Initiate Commercial Production as per the Orders 10 days Mon 20-01-20 Fri 31-01-20
Sign Off and Closing of the Project 0 days Fri 31-01-20 Fri 31-01-20
As per the proposed schedule, the project will be conducted in some specific stages.
The focus of the project is to produce and sell SUPs to Australian customers and thus
sufficient funding is required so that the initial phase of production can be started.
Once the profits are generated, further production and sales can be self-funded.
Once the funding is available, it will be provided to the workshop for initiating
production of a certain number of SUPs. The website of the company will also start
accepting orders from the customers that will be fulfilled once the products are
manufactured and ready for shipping.
Project related information:
The overall campaign is being conducted to raise sufficient funds for commercial
production of the Easy Eddy so that they are available on sale for the interested
customers. The funding is required for purchasing resources and body parts that are
used to build the Easy Eddy boards as well as the wages of the workers who will
manufacture the boards in the workshop. There will also be funding need for the
packaging and delivery of the boards to the customers and marketing that will be
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BUS30009 Assignment 1A Preparation of the project brief
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required to attract more customers for purchasing the boards. The budget
breakdown is thus shown as follows.
Requirement Proposed Budget
Resources and Parts for the SUPs $15000
Equipments and Tools $5000
Wages of Workers $5000
Packaging, Delivery and Other Costs $5000
TOTAL $30,000
Follow up questions:
The follow up questions are as follows.
 Can sufficient funds be generated through crowdfunding in Australia only?
 Will Australians be interested in donating for a non-patented product?
 Will Australian customers buy the product at such a high price?
Relevant skills and experience:
i.The project manager should have experience in conducting crowdfunding
campaigns.
ii.The website developer should have experience in creating commercial
websites.
iii.The media team should have experience in conducting online campaigns.
iv. The project manager should be able conduct campaigns that are attractive
enough for investors and should also have sufficient knowledge on the nature
of this particular project.
v. The project manager should be able to understand the potential of the
particular product in the market in terms of sales and conduct the
crowdfunding campaign accordingly.
Conclusion:
Finally, it can be concluded that the product Easy Eddy is trying to sell has a lot of
potential in the market if sufficient amount of production can be initiated but in order
to do the same, the company needs to raise funds for production and also patent
their product immediately. Once the funds are raised, the commercial production can
start and the pre-orders can be successfully fulfilled after production is complete.
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BUS30009 Assignment 1A Preparation of the project brief
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BUS30009 Assignment 1A Preparation of the project brief
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