The project will use the PMI approach. PMBOK will direct it apparatuses and procedures. The project will follow the five stages: initiating, planning, executing, observing, controlling, and closing (Roseke, 2017).

*Initiating: Use of PMI and PMBOK devices and strategies

*Planning: Use of PMI and PMBOK devices and procedures

*Executing: Use of PMI and PMBOK devices and procedures

*Observing and Controlling: Use of PMI and PMBOK devices and strategies

*Closing: Use of PMI and PMBOK devices

Assumptions:

Cosmo Inc understands as the leader in the development of wearable technology, and they need to increase its market share because data analytics shows that consumers aged 25-50 that are college educated and have an annual income greater than $75,000 are starting to use the wearable technology more than any other group. The company believes it can increase its market by 20% and maintain its dominance in this market. The company is confident that implementing this new strategy will take ten weeks and cost $150,000. The company is expecting to increase their revenue by adding to the features of their device.

Constraints: PMBOK

Scope: Upgrade current product line and incorporate IoT, digital services, data analytics, and mobile technology.

Schedule: 10 weeks to implement and run a 6 month marketing campaign.

Budget: Total cost $150,000

Quality: Improved digital business with “mesh” embedded services.

Risk: The loss of market share, new entrants, and going over budget.

Resources: Using current technology like social media and data analytics to trach

consumer use and need.

Dependencies:

The finance team is responsible for tracking costs and keeping the team on task. Each department, marketing, finance, information technology, and customer service, should have expenses associated with the project assigned to each department, and the heads of those departments should track spending.

Initial Risk Factors

• Not enough funding, the project has the potential to run over in cost because of the three different departments that one person does not control. The departments only report back, which can be seen as a flaw.

• Project may take longer because the 10-week projection can rely on technology upgrades which often hit snags in development.

Regulatory Cost and Impact

· The average rate of regulatory growth drives up operating costs per unit of output by about 3.3 percentage points per year (Richards, 2020) if the project runs over a year then it will be increased by the 3.3 percent and this cost has not been accounted for.

· Regulations that increase operating costs often alter a firm's day-to-day operations in some way. Recently tech vendors have been compelled to adopt ‘privacy by design’ techniques during product development and ‘Privacy-as-a-Service’ over the product lifecycle (Thematic Research, 2022). The next step is to make this required which could change the cost for the company’s wearable devices.

Roles and Responsibilities

Role	Name	Organization and Position	Responsibilities and Tasks on the Project	Contact Information
Project Sponsor	Harold Living	CEO	Executive Officer	442-211-1313
Project Manager	Taccarra Manuel	Project Leader	Lead project	771-234-6767
Marketing Director	Antonio Davis	Public Relations/ Marketing	Marketing planning/ Public relations	451-230-3424
Technology Dept	Chase Parker	Product Development	Software Development	451-222-3099
Sales/Customer Service	Lacy Mound	Customer Support	Sales and Customer Development	661-234-7888

The project sponsor Harold Living determined that because the company has become stagnant and the threat of new entrants is growing, he has determined that it is time to create new products and use the latest technology. Like many great leaders, he understands it is time for the company to reinvent itself and create a new market strategy to launch the changes. Taccarra Manuel will oversee the project, tracking costs and timelines to ensure success. Antonio Davis is the marketing director, and his team will create the launch of the new product and use the customer demographic to determine what current technologies should be used. Chase Parker and the technology department will work to integrate the existing ERP and improve the customer experience by incorporating IoT, digital services, the data analytics with the mobile technology movement. Lastly, Lacy Mound and the customer service team will examine data about the company's current level of customer service and work to create a contact list based on the customer demographics and offer them the chance to get the upgraded wearable devices once they are available.

Project Scope: Cosmo Inc will work to upgrade

Overview

Description

In scope:

Out of scope:

Acceptance Criteria:

Deliverables:

Work Breakdown Structure (WBS) (Assessment 2)

WBS Introduction:

WBS Graphical Representations:

Project Management Cost (Budget) (Assessment 3)

Introduction (Intent):

Project Budget:

(Note: Cut/Paste Summary tab from template here. Attached budget file as a separate attachment.)

Project Management Schedule (Assessment 3)

Introduction (Intent):

Microsoft Project Document:

(NOTE: Please, also, attach your MS Project Schedule file as a separate document. Links sometimes do not work.)

Risk Management Plan (Assessment 4)

Introduction:

Risk Matrix

Introduction and Legend (Intent):

Risk Description	Probability (L, M, H)	Impact (L, M, H)	Risk Owner	Risk Response (Mitigation)

Project Quality Plan (Assessment 4)

Introduction (Intent):

Plan Quality Management Processes:

· Inputs:

· Tools and Techniques:

· Outputs:

Manage Quality Assurance:

· Inputs:

· Tools and Techniques:

· Outputs:

Control Quality:

· Inputs:

· Tools and Techniques:

· Outputs:

Project Close and Lessons Learned (Assessment 4)

Appendices

References

Thematic Research. (2022, February 3). Wearable Technology: Regulatory trends. Mining Technology. https://www.mining-technology.com/comment/wearable-technology-regulatory-trends/

Richards, T., & Fullenbaum, R. (2020, September 9). The impact of regulatory growth on operating costs. Mercatus Center. https://www.mercatus.org/research/working-papers/impact-regulatory-growth-operating-costs

Roseke, B. (2017, March 20). Learn. ProjectEngineer. https://www.projectengineer.net/the-pmboks-five-project-phases/

Assessment 2 only

Executive Summary (Assessment 4)

Project Charter (Assessment 1)

Project Title: Cosmo Project Charter

Project Start Date: 05/10/2023

Projected Finish Date: 05/12/2023

Budget Information $150,000 Total Cost

Project Manager: Taccarra Manuel

Business Need:

Project Objectives:

Approach:

Assumptions:

Dependencies:

The finance team is responsible for tracking costs and keeping the team on task. Each department, marketing, finance, information technology, and customer service, should have expenses associated with the project assigned to each department, and the heads of those departments should track spending.

Initial Risk Factors

• Not enough funding, the project has the potential to run over in cost because of the three different departments that one person does not control. The departments only report back, which can be seen as a flaw.

• Project may take longer because the 10-week projection can rely on technology upgrades which often hit snags in development.

Regulatory Cost and Impact

Roles and Responsibilities

Role

Name

Organization and Position

Responsibilities and Tasks on the Project

Contact Information

Project Scope: Cosmo Inc will work to upgrade

Overview

Description

In scope:

Out of scope:

Acceptance Criteria:

Deliverables:

Work Breakdown Structure (WBS) (Assessment 2)

WBS Introduction:

WBS Graphical Representations:

Project Management Cost (Budget) (Assessment 3)

Introduction (Intent):

Project Budget:

Project Management Schedule (Assessment 3)

Introduction (Intent):

Microsoft Project Document:

Risk Management Plan (Assessment 4)

Introduction:

Risk Matrix

Introduction and Legend (Intent):

Project Quality Plan (Assessment 4)

Introduction (Intent):

Plan Quality Management Processes:

Manage Quality Assurance:

Control Quality:

Project Close and Lessons Learned (Assessment 4)

Appendices

References