Managing Technological Innovation
Nano-Enviro Refinery Feasibility Analysis Feasibility Analysis assignment
THIS IS A GROUP ASSIGNMENT
The Feasibility Analysis is intended to communicate the plausibility of your new product concept to the reader based upon a number of discoveries you have made throughout your study. For a new product to be classified as Innovative, it must have some novel content, be practical to implementation and be accepted in the marketplace. Not all innovative products achieve profitability over their life cycle. Many new products fail shortly after they are launched. This Feasibility Analysis will help you understand what is needed, when it is needed, how much it will cost and what to expect of your new product from concept to the end of its useful life.
A Feasibility Analysis is usually created during the early stages of a project when there are many skeptics and non-believers. The (12) step Feasibility Analysis is designed to integrate; Concept Evaluation, Market Potential, Product Development, Manufacturing, Operations and Support into one analysis. Doing this enables the practitioners to study important interrelated facets of their project and form a coherent and compelling story. The story should be factual based on the evidence of your research. If the analysis indicates that the project has poor potential or has a high probability for failure that is okay. It is better to terminate a project early and be a hero vs. terminating late and being seen as not intelligent enough to know you have been on the wrong path.
DIRECTIONS
The Feasibility Analysis paper should be written as a stand-alone document. It should not reference any accompanying slides. You should assume that the reader may never see any sides that you may have prepared. You may, however, include 3-4 diagrams within your paper. If you do include diagrams, you need to provide written explanations and details about them.
Your group paper should be about (20) pages. It should be single sided, double spaced and use 12-point Times New Roman font.
Your Feasibility Analysis must address all (12) phases in the Feasibility Analysis process as they apply to your team's project, preferably in the order described in the lecture. The discussions in your final sections must give a strong message. Consider that this is a feasibility study and your outcome may be something like this; after conducting a feasibility analysis; the team has concluded that the project is very feasible, or your conclusion may be that; after careful study, the project is deemed not feasible, therefore, we suggest the following...
Either way, you need to support your conclusion by explaining the viability and the pitfalls from your project analysis.
TEAM MAKE UP, MANAGEMENT and CONTRIBUTION
Project teams form, and self-manage in several different ways. Some teams may have a strong leader who directs, drives and also contributes as an individual contributor. Other teams may have members who are all equally competent with deep understanding of the topic. And other teams may have strong leaders and members who are just learning about new technologies, techniques and processes. All of these team characteristics and many others are acceptable. They match many of the teams formed in high technology industries today. Some team members may be more finance oriented; some may be more technical and less financially focused.
The quality of your Feasibility Analysis may be better served by assigning tasks to those who are most familiar with the topic at hand. Or, you may be missing a key skill on your team where some member will have to step up and take on an unknown topic. No matter which approach you take as a team, both individual and team learning will occur. You will also learn more about yourself when pursuing technologies, management and new product development. Managing Technological Innovation and New Product Development is not an individual or a spectator sport. Team work is required.
When your report is completed, have only one member in your group submit the assignment to Blackboard. At the end of your paper, list the (12) phases and the name of the primary owner of each phase.
Note that all members may not receive the same grade for this assignment.