Chapter 5, Problem 2T

Explanation of Solution

Project scope statement:

• The Global Treps project will have a resourceful website that will generate the suitable models for business events.
• It will hold four shark tanks like events within four months placed in different countries include one at the local college.
• The project will fund food and refreshment drinks for all the events as well as the prize fund for the winners. There will be a budget of one thousand dollars for each event.
• The project will accept donations from potential investors targeted toward specific schools or organizations wishing to host an event as well as accepting ideas for needed new products or services.
• The project will also provide the ability for organizations to create their own custom site to solicit local participants and sharks, accept applications, and promote the winners as well as losers.
• The projects include distribution of new laptop devices and provide internet access for each of the team members living abroad so that a continuous communication channel can be maintained. A budget of $120,000 is considered for the same.
• Details of the budget estimate includes a necessity of $30,000 for travel expenses, $20,000 for hardware and software, and another $20,000 will go toward organizing events, consultants, legal/business fees, and so on.
• The focus of the project is to ensure that it pays for itself as quickly as possible upon its completion but not more than two years.
• Proper testing of the plan needs to be done before execution during events...