Secondly, Ed and his team need to estimate the implementation and operating costs (Lasher, 2016) . Accurately estimating the amount of money required in bringing the project to fruition through external and internal research will ensure they have more information for the management with regards to the project. This entails identifying costs necessary for coming up with the costs of the options capable of working in synchronization with Technology A as well as Technology B of the radio station. In addition, Ed and his team should then try to further narrow down the total cost of implementing whichever option the radio station will choose to effectively evaluate the project (Carey & Essayyad, 2015) .
FINAL PAPER: ED’S CASE ANALYSIS 7 Thirdly, they should take the time to estimate the cash flow or benefit, which is the cash flow each option is expected to generate in the long term (Lasher, 2016) . One way of arriving at such figures is to review the data or information on projects that are related to the one under consideration that has proved successful in the past (Lasher, 2016) . A careful review of such past projects will provide a relatively accurate estimation of the costs thus ensuring successful evolution of the project. Instead, such past projects do not exist, the team should use their engineering learning and experience to assign an estimated benefit or cost savings to determine if the initiatives or options make sense financially before taking their presentation to the management. Finally, Ed should carefully assess the risk (Lasher, 2016) . Estimation of the risk associated with the project entails estimating the amount of money the company might lose in case the huge investment fails or is unable to generate the formerly predicted results. Effective determination of the level of risk, as well as other related risks, will help in the evaluation of the project against the estimated benefits or cash flow to determine if it makes sense and is worth to pursue implementation (Carey & Essayyad, 2015) . For instance, this process will help Ed see that there is a 51% probability of failure of the proposal and not 4% as Ed early predicted. Therefore, Ed will use his engineering learning in understanding both option A and B that are available to the firm as well as finding solutions on the basis of the computer systems that should be implemented by the aircraft (Lasher, 2016). As a result, Ed and the company will have sufficient time to carry out proper review and checking of the feasibility of the system that has been developed in synchronization with the different technologies that are proposed by the radio stations. Therefore, instead of bearing the total cost of the project of $20 million, the company will only bear the initial investment in Research and Development which is substantially lower
FINAL PAPER: ED’S CASE ANALYSIS 8 for the complete development (Lasher, 2016). Ensuring fruitful release of funds in terms of phases coupled with the details of the development as well as the feasibility of the two
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