Assignment 1: - worth 40% of your total mark
The aim of this assignment is to apply the project management approaches to manage the fuzzy front end of entrepreneurial ventures and/or to address the creation/scalability of enterprise, the market and the product. Specifically, you are required to:
o Develop expertise on an issue that is broad in scope and complicated in nature.
o Uncover hidden needs and deep insights that give a unique perspective on the problem.
o Reframe the problem into a clearer and actionable detail that will inspire implementable solutions.
o Analyse and plan the enterprise creation and/or
business growth scenarios
You are required to develop an entrepreneurial opportunity/business problem by answering succinctly the following questions:
1. Opportunity Analyses
• What “business problem” or challenge are you facing and/or trying to solve?
• What idea(s) do you have to address this problem?
• What industry or sector of the economy are you addressing? Why is this market attractive?
• Who your target customer is? How do you envisage the revenue stream?
• What do you plan to do that would get you the market share of your current competitors and/or how would you thwart future competition?
2. Opportunity Exploitation
• How would you validate that your idea works?
• What is the role of Project Management in exploiting this opportunity?
• What project management approach would be appropriate in meeting the challenges of delivering this opportunity?
This assessment task needs to be completed as a Business Report and is to be submitted as a PDF on the LMS by the due date.