This 6 page paper looks at a case study supplied by the student and answers questions on project management. The company have developed an idea for a technological visual aid, the paper looks at the challenges the company will face, approaches that should be takes, ways of facing the challenges and the way n which different stakeholder interests will impact on the project. The paper finished by considering needs for hiring a project manager. The bibliography cites 6 sources.
Name of Research Paper File: TS14_TEviscase.rtf
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it to market quickly. Today the idea is innovative, but there will be other, larger and more established companies that have more experience of innovative research and development and may
be able develop the idea more quickly. The case shows that the company is benefit driven; therefore quality issues will need to be balanced with cost issues in order to
be able to bring the product to market and gain a first mover advantage. 2. Project management may be problematic due to the broad range of stakeholders and the potential
political involvement with a government seeking to invest in popular medical developments as a vote winner. Project managers need to consider the impact on stakeholders and how they can impact
on the project progress. There will be opposition from outside competitors, the involvement of the government for popularity purposes and internal relationships. In many cases the relationships will be contractual,
but this is not always the case. 3. The third challenge is whether to sell the product to the military market. The decision to sell to this market may be
seen as the politicizing the product and may create an ethical dilemma than could result in a backlash. If the company seeks to sell to the military market either solely
or as part of the target market there will be pressure placed on the development of the product by the buyers who will have a great deal of control over
the company, there is also the ethical issue and a potential liability when the long term impacts of uses. The pressure may result in a product not targeted for its
original use and the benefit of the commercial market may be lost. However, this may also be a lucrative market. The challenge will be the way both markets may be
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