Question

Describe a familiar project. Ideally, this will be a work-related project that has already been completed. Provide examples of events that took place in each of the four stages of the product life cycle (see below). Select two of the following five components: Client interest (level of customer enthusiasm and concern); Project stake (amount of investment); Resources (commitment of financial, human, and technical resources); Creativity (the amount of innovation required); and Uncertainty (the degree of risk associated with the project). In your description of the stages of this project, explain how the intensity of the two components has changed. For example, Uncertainty is highest in the Conceptualization stage and lowest as the project approaches the Termination stage.

Organize your post as follows. Include the headings: Conceptualization stage Planning stage Execution stage Termination stage

Answer 1

The business chosen is that of production, manufacturing and selling of smart phones in the country. The level of investment and innovation changes at every stage, which is enumerated in the table below:

Stage Name	Project stake (investment amount)	Creativity (Innovation level)
Conceptualisation Stage	The rate of investment is extremely high as the brand has to penetrate in the market with a digital disruption and match the competition.	To be a market disruptor, the brand has to come up with technological advancements and innovative features making the creativity level maximum.
Planning Stage	The investment stage again is high here because the planning decisions have to be taken.	The creativity level is a bit less because the disruptive technology is at place and now plan to penetrate the market has to be built.
Execution Stage	The investments are at the maximum at this stage because the marketing expenses increase along with distribution and promotion activities. To match the competitor and build awareness, this stage requires a lot of money.	The creativity is a little more less because the disruption is already hit the market and people are aware about it.
Termination Stage	Almost no investment is needed at this stage because the termination process does not require much money. Also, the little money required is covered up by the profits made by the brand.	The creativity level has decreased to a minimum because at termination there is no creativity required.