HANDSTAR INC (Case Study 1)
Soham Satish Sandbhor
Rishabh Jain
Vyom Dalal
Adhira Sahni
Members of Team 5
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Project Description
Introduction
Handstar Inc is a company started by 2 college roommates to develop applications for smartphones. Initially, they had 3 existing applications out of which their 1st app, the expense report app is the most successful.
Aim
The main aim of this project is updating the existing applications as well as develop opportunities for new products within the next 1 year .The budget estimate for this is around 1.5 million USD.
Target
They are doing this to be more competitive in the market as well as retain their leadership position in the current expense report app.
Timeline and Budget
To update 3 existing applications and to develop opportunities for new products within the span of 1 year and a budget estimate of around 1.5 million USD for Handstar Inc. being able to be more competitive in market offerings and to retain the leadership
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Expected Benefits
Reputation
The reputation of the company would be enhanced.
Value and Loyalty
The company will be able to provide better value to the customers resulting in having more customer loyalty.
Returns
Massive revenues will be generated for the company due to increased sales which will result in Handstar Inc being able to invest heavily in innovative technologies in the future
Growth
Immense growth will be anticipated in the market value of the company
Competitive Edge
Handstar Inc. will be competitive and will hold control among their counterparts in the market.
Consumer Insights
The company will gain access to valuable consumer insights.
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Reporting Period
Reporting for the project progress from the 1st of July to the 30th of November.
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Schedule Summary
Basis the graph of Planned work completion to Actual work completion, we can observe that we are about 3% behind schedule at this given time.
% Project Completed is 57% and as per the Baseline % Project Completion should be 60%
Tasks which are delayed. Schedule Tracked as on 30th of November 2021
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Cost Summary
Basis the graph of Baseline Cost vs Cost Incurred till date vs Cost Variance; we can observe that there has been a Cost Variance of 4000$ till date.
Tasks where cost variance has been observed. Schedule Tracked as on 30th of November 2021
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Significant Accomplishments
Project Initiation Phase Completed
Project Charter and Scope completed. High level risks and stakeholders identified.
Project Planning Phase Completed
Project Budget decided, and scope and schedule formulated.
Progress of Developing New Applications
Prototypes for the new applications underway and are 1 application is getting ready for its testing phase
Progress of Updating Application
Software development of existing 2 existing applications is completed and third is getting ready for its testing phase
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Issues Faced
The issues faced till date with the resolution proposed and implemented
Lack of resources
Rise in delta variant of Covid-19
Stringent Schedule
Large number of bugs were found
5 new software developers were hired before the starting the development of web browser application. The 4 in-house software developers were used to update the calendar application to launch simultaneously to create a huge buzz in market.
Experts were consulted as application testing consultant were hired on temporary basis.
A new hybrid model was developed by the senior management with introduction of new interns who were responsible for communication of vital information.
Extra funds with new resources were allocated to meet the deadlines.
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Challenges Faced and Predicted
Competitive Market
Health and safety
Predictions
Bugs
Launch of similar applications by our competitors can result in loss of revenue.
Health safety for the companies’ employees due to new omicron variant can cause delay in project schedule.
Growth and revenue by the launched application fails to meet the predictions by the analysts and managers.
Development of new bugs post launching the application can result in reduction in number of users.
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Anticipated Risks
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Lessons Learnt
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Prior to the launch of software, a third-party quality test should be done to ensure the quality of the application and to make sure that the software is bug free.
When working with a stringent schedule, we should collaborate more and review the progress periodically to ensure that there is no time and cost overrun.
As the spread of delta variant was anticipated, we should’ve been ready with the work from home setup with all the collaboration tools to ensure no loss of productivity.
As the spread of delta variant was inevitable and new variant called omicron was just been identified, the contingency reserve ensured the welfare if anyone was infected with the virus and a replacement could be provided for them using the reserved funds.
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