Cosmo's Inc Project Final

Marketing Campaign - Wearable Technology Cosmo's Inc 2023 PM 5018 1/19/2023

1 Marketing Campaign - Wearable Technology Executive Summary (u10a1) Cosmo Inc.'s saw that based on current marketing analysis; the onset of competition could negatively impact their future earnings. To stay ahead of the game, we have been tasked with developing a new marketing campaign strategy that will allow us to increase production of wearable technology, increase our customer base, and become one of the three leading competitors in wearable technology. We will need to complete this project in a 10-week timeframe and within a budget of $150,000. The following pages of this Project Management Plan will take you through the process of taking Cosmo Inc. to the next level, making us one of the top selling wearables on the market today. PM 5018 | Confidential

2 Marketing Campaign - Wearable Technology Table of Contents Executive Summary ..................................................................................................................................... 1 Version Control ............................................................................................................................................ 3 Project Charter ............................................................................................................................................ 4 Project Title: Marketing Campaign - Wearable Technology ................................................................. 4 Project Start Date: April 3, 2023 ......................................................................................................... 4 Projected Finish Date: June 5, 2023 ..................................................................................................... 4 Budget Information: $150,000 ............................................................................................................. 4 Project Manager: Your Name ............................................................................................................... 4 Business Need ......................................................................................................................................... 4 Project Objectives .................................................................................................................................... 4 Approach ................................................................................................................................................. 4 Assumptions/Constraints/Dependencies ................................................................................................ 5 Assumptions: ....................................................................................................................................... 5 Constraints: .......................................................................................................................................... 5 Dependencies: ..................................................................................................................................... 5 Initial Risk Factors .................................................................................................................................... 5 Regulatory cost/impact ........................................................................................................................... 5 Roles and Responsibilities ........................................................................................................................ 6 Sign-Of .................................................................................................................................................... 7 Comments ............................................................................................................................................... 7 Project Scope ............................................................................................................................................... 8 Project Scope Overview ........................................................................................................................... 8 Project Scope Description ........................................................................................................................ 8 Acceptance Criteria .............................................................................................................................. 8 Deliverable(s): ...................................................................................................................................... 9 Constraint(s): ....................................................................................................................................... 9 Dependencies: ..................................................................................................................................... 9 PM 5018 | Confidential

3 Marketing Campaign - Wearable Technology Assumption(s): ..................................................................................................................................... 9 Mitigation Strategies: ........................................................................................................................... 9 Work Breakdown Structure (WBS) ............................................................................................................... 9 WBS Introduction: ................................................................................................................................. 11 WBS Graphical Representation(s): ..................................................................................................... 11 Project Management Cost (Budget) .......................................................................................................... 13 Introduction (Intent) .............................................................................................................................. 13 Project Budget ....................................................................................................................................... 13 Project Management Schedule .................................................................................................................. 14 Introduction (Intent) .............................................................................................................................. 14 Microsoft Project Document .................................................................................................................. 14 Risk Management Plan .............................................................................................................................. 15 Introduction: .......................................................................................................................................... 15 Risk Matrix ............................................................................................................................................. 15 Introduction and Legend (Intent) ....................................................................................................... 15 Project Quality Plan ................................................................................................................................... 17 Introduction (Intent): ............................................................................................................................. 17 Plan Quality Management Processes: .................................................................................................... 17 Manage Quality Assurance: ................................................................................................................... 17 Control Quality: ..................................................................................................................................... 17 Project Close and Lessons Learned ............................................................................................................ 18 Appendices ................................................................................................................................................ 19 References ................................................................................................................................................. 20 Version Control Version Number Assignment Number Date 4.0 Week 10 3/12/23 PM 5018 | Confidential

4 Marketing Campaign - Wearable Technology Project Charter Project Title: Marketing Campaign - Wearable Technology Project Start Date: April 3, 2023 Projected Finish Date: June 5, 2023 Budget Information: $150,000 Project Manager: Business Need Cosmo, Inc is wanting to incorporate a new marketing strategy to increase market share while also maintaining current levels. As of 2018, current market share of wearable technology was at 33%. Based on data analytics, it has been determined that technology trends including Internet of Things (IoT), digital services, data analytics, and the mobile technology movement needed to be incorporated into the strategic marketing strategy of the company. Project Objectives It is the goal of this project to create a new marketing strategy that help reach a variety of goals, through the utilization of technology. The objectives that will be reached through this new marketing strategy are listed below:  Develop a marketing campaign strategy that would increase production of wearable technology by 25%.  Increase customer base by 20% by identifying unknown customer segmentations based on age, demographics, income, education, and technology.  Utilize current technologies, including social media and data analytics, for predictive analytics to identify known and unknown customer segments.  Become one of the top three, leading competitors in wearable technologies.  Become a leading competitor utilizing trending technologies including IoT, mobile technology, and artificial intelligence applications.  Integrate technology into current ERP and Marketing systems to create an improved digital business of the future and to deliver and support products to improve the customer experience and mesh embedded services of people, devices, and content.  Develop and implement a new process in the Customer Service department to support new product support services.  Meet current and future neutrality regulations. Approach In accordance with Project Management Institute (PMI) for this project, we will be using the Agile Method. Agile method is an adaptive method that uses flow-based scheduling and does not use any life PM 5018 | Confidential

5 Marketing Campaign - Wearable Technology cycles or phases. The Agile method will allow us to minimize time and resource waste. In accordance with PMBOK, we will follow the 5 phases of project management listed below: 1. Initiating: Approved Business case and project charter has been authorized 2. Planning: Set goals and define the project approach, develop a project plan and schedule 3. Executing: Involves putting the project plan into action. This will be done by hosting daily or weekly meetings, to ensure that the project stays on task and any developments are dealt with in a timely manner. 4. Monitoring and Control: Measuring project progression and performance, and dealing with project issues. 5. Closure: Work is completed and project is dissolved. The closure of the project will be the start of a promotional event to launch the marketing campaign that will also promote a new line of products. Assumptions/Constraints/Dependencies Assumptions:  Cosmo Inc will have increased revenue from this marketing project with no negative impact on past revenue.  Cosmo Inc will not only maintain but surpass 33% market share in wearable technology  A new line of products, services, and features of Cosmo's wearable technology will encourage an increase in sales. Constraints:  There is only a 10-week timeline for the project  The campaign is only set to run for 6 months  Project success is dependent upon an increase in customers and customer satisfaction rates Dependencies:  This project is dependent on staying within a budget of $150,000  Project is dependent upon the demand for new wearable technology products Initial Risk Factors  Going over the project budget of 150K  Not having enough resources to complete the project within the 10-week timeframe Regulatory cost/impact There is currently no regulatory cost or impacts to this project PM 5018 | Confidential

6 Marketing Campaign - Wearable Technology Roles and Responsibilities Role Name Organization and Position Responsibilities / Tasks on the Project Contact Information Project sponsor Harold Living President/CEO Owns the project and provides resources, support, and leadership to the project team. Serves as a link between the project manager and other decision makers. 723-123-4567 Project manager Project Manager Responsible for initiating, planning, executing, monitoring & controlling, and closing the project. 723-567-8901 Marketing Manager Denise Pringle Marketing/PR Department Responsible for communicating the marketing strategy plan to the project team. Will use social media & data analytics to identify known and unknown customer segments. 723-678-9012 Finance Manager Lucious Lions Finance Department Responsible for ensuring that the project stays within the budget. 723-789-0123 Customer Service & Support Manager Dan English Customer Support Department Responsible for working with sales & marketing to help develop & implement a new process in the customer service department to support new product support services. 723-890-1234 IT/Software Development Manager Lena Meadows IT/Software Development Department Manages assigned IT projects to ensure adherence to budget, schedule, and scope of the project. Will work to 723-901-2345 PM 5018 | Confidential

7 Marketing Campaign - Wearable Technology integrate tech into current ERP & marketing systems. Sign-Of Harold Living Denise Pringle Lucious Lions Dan English Lena Meadows Comments PM 5018 | Confidential

8 Marketing Campaign - Wearable Technology Project Scope Project Scope Overview Cosmo Inc. is a technology company that currently occupies 33% of the wearable technology market. With the increase in competition, there position in the market can change and afect future profits. To get ahead of this, we plan to develop a new market strategy to help Cosmo Inc. not only maintain current market levels, but raise them. This will include technology trends such as the Internet of Things (IoT), digital services, data analytics, and mobile technology trends. These changes will enhance the company's business value with a potential increase in cash assets and customer retention. Project Scope Description This project will take 10 weeks to complete. Once the project is complete and the strategy is implemented, the marketing campaign will run for 6 months. We will track the outcomes of the campaign using performance reports to view how customer numbers and customer satisfaction are improving. Over the next few years, the marketing, finance, IT, and customer support teams will continue to work together to develop a strategy to increase wearable technology production by 25%. This will allow the company to continue to be a major competitor in wearable technology. The scope of this project includes and excludes the following items: Deliverable(s): In scope:  Add heart rate monitoring to current health monitoring apps.  Develop and add a heart rate monitor to its current wearable products.  Special promotion to give 500 new wearables to select high school students in athletic programs to expand our young adult market.  Marketing plan that leverages popular social media outlets, including but not limited to Twitter, Facebook, Instagram, LinkedIn, etc. Out of scope:  Federal regulation approvals PM 5018 | Confidential

9 Marketing Campaign - Wearable Technology Acceptance Criteria : Cosmo Inc's. market retention and expansion plan require the work and successful completion of the following:  Develop Heart Rate Monitor app features.  Integration of Heart Rate Monitor microchip into existing wearable  Test wearable with heart rate monitor  Testing and QA of new features  Development of marketing plan  Push new model wearable w/ heart rate monitor into production  Deploy marketing plan  Tracking & Adjustment phase of marketing  Program analytics and saturation outcome  Project transition Constraint(s):  There is only a 10-week timeline for the project  The campaign is only set to run for 6 months  Project success is dependent upon an increase in customers and customer satisfaction rates Dependencies:  This project is dependent on staying within a budget of $150,000  Project is dependent upon the demand for new wearable technology products Assumption(s):  Cosmo Inc will have increased revenue from this marketing project with no negative impact on past revenue.  Cosmo Inc will not only maintain but surpass 33% market share in wearable technology  A new line of products, services, and features of Cosmo's wearable technology will encourage an increase in sales. Mitigation Strategies: Communication. To communicate with everyone on each team to PM 5018 | Confidential

10 Marketing Campaign - Wearable Technology complete the project on time and within budget. The plan is to communicate with everyone on each team to complete the project on time and within budget. PM 5018 | Confidential

11 Marketing Campaign - Wearable Technology Work Breakdown Structure (WBS) WBS Introduction: The Work Breakdown Structure (WBS) below shows Cosmo's marketing plan from design to closure. This WBS will be the base for cost projections and other program specific pathways. The chart below shows all the steps in our marketing and wearable tech expansion project. Project: Marketing Plan 1.0 Project Management 1.1 Project Charter/Authorization 1.2 Project Scope 1.3 Project Cost 1.4 Identify Project Team 1.5 Project Schedule 1.6 Marketing Research 1.7 Project Closure 2.0 Plan 2.1 Develop ERP Upgrade Plan 2.2 Develop Marketing Plan 2.3 Develop Training Plan 2.4 Develop Risk Plan 2.5 Kickof Call 3.0 Technology Upgrade 3.1 ERP Upgrade 3.2 ERP Evaluation 3.3 ERP Testing 3.4 ERP Test Implementation 3.5 New ERP Implementation 4.0 Marketing Plan 4.1 Brand Strategy 4.2 Pricing Strategy 4.3 Media & Design 4.4 Distribution Strategy 4.5 Marketing Plan Internal Presentation 4.6 Change Control 4.7 Marketing Plan Implementation 5.0 Training 5.1 IT Training Courses PM 5018 | Confidential

12 Marketing Campaign - Wearable Technology 5.2 Customer Service Training Courses WBS Graphical Representation(s): PM 5018 | Confidential

13 Marketing Campaign - Wearable Technology Project Management Cost (Budget) (u07a1) Introduction (Intent) : According to Bridges (2019), creating a project budget is a critical part of project planning as it shows the total projected costs needed to complete the entire project over a defined period of time, for each phase of the project. The WBS phases that are estimated in this project are Project Management Phase (Design/Initiation), Planning Phase, Technology Design Phase, The Marketing Design Phase, Training, and the Project Close out phase. The Project Management Phase is expected to take 176 hours to complete, and will cost an estimated $18,304.00. This phase accounts for 12.21 % of the total project budget to complete the project charter, scope, cost breakdown, identify the project team, develop the project schedule, and conduct the initial marketing research. The next phase is the planning phase, it is expected to take approximately 136 hours and is estimated to cost $15,120 to develop the ERP upgrade plan, marketing plan, training plan, risk plan, and hold the initial kickof call. The technology design phase is expected to take 400 hours and cost approximately $46,800, it accounts for 31.21% percent of the overall budget. This phase will consist of performing the ERP upgrade, Evaluating/Testing upgraded ERP, internal testing of the ERP (Employee Use), change controls submitted, and then live implementation of the new ERP. The Marketing Phase will take an estimated 392 hours to complete, and cost an estimated $41,144.00 to complete, it accounts for 27.44% of the overall budget. This phase will consist of devloping the brand strategy, pricing strategy, distribution strategy, Media Ad Design, internal marketing presentation, change controls, and marketing plan implementation. Training is the next phase and it will be 80 hours long for IT training and customer service training. The estimated budget for training is $20,160.00. The project closeout phase is the final phase, it will take close an approximate 80 hours and the estimated cost is $8,400.00. PM 5018 | Confidential

14 Marketing Campaign - Wearable Technology Project Budget : Cosmo, Inc. Project Cost Estimate WBS Items # Unit/Hrs. Cost/Unit/Hr. Subtotals WBS Level 1 Totals % of Total Project Management (Design/Initiation) $18,304.00 12.21% Project Charter/Authorization 16 $103.00 $1,648.00 Project Scope 24 $103.00 $2,472.00 Project Cost Breakdown 24 $103.00 $2,472.00 Identify Project Team 24 $103.00 $2,472.00 Develop Project Schedule 16 $60.00 $960.00 Marketing Research 72 $115.00 $8,280.00 Planning Phase $15,120.00 10.08% Develop ERP Upgrade Plan 32 $115.00 $3,680.00 Develop Marketing Plan 32 $115.00 $3,680.00 Develop Training Plan 32 $115.00 $3,680.00 Develop Risk Plan 32 $105.00 $3,360.00 Kickoff Call 8 $90.00 $720.00 Technology Design Phase $46,800.00 31.21% ERP Upgrade 192 $130.00 $24,960.00 ERP Evaluation 48 $110.00 $5,280.00 ERP Testing 48 $103.00 $4,944.00 ERP Internal Testing 48 $114.00 $5,472.00 Change Control 32 $65.00 $2,080.00 New ERP Implementation 32 $127.00 $4,064.00 Marketing Phase $41,144.00 27.44% Brand Strategy/Development 80 $105.00 $8,400.00 Pricing Strategy/Development 80 $105.00 $8,400.00 Media Ad Design 80 $115.00 $9,200.00 Distribution Strategy/Design 80 $105.00 $8,400.00 Marketing Plan Internal Presentation 16 $101.00 $1,616.00 Change Control 32 $65.00 $2,080.00 Marketing Plan Implementation 24 $127.00 $3,048.00 Training $20,160.00 13.45% IT Training Courses 80 $132.00 $10,560.00 Customer Service Training Courses 80 $120.00 $9,600.00 Closeout Phase $8,400.00 5.60% Project Closure 80 $105.00 $8,400.00 Total Project Cost Estimate $149,928.00 PM 5018 | Confidential

15 Marketing Campaign - Wearable Technology Project Management Schedule (u07a1) Introduction (Intent) : For this part of the project the team has employed Microsoft Excel to budget, plan and assign resources that have been aligned with the WBS for Cosmo, Inc. wearable market expansion. Attached to this document are the resources used for Cosmo Inc project management schedule. Microsoft Project Document : Cosmo Gant Chart.xlsx PM 5018 | Confidential

16 Marketing Campaign - Wearable Technology Risk Management Plan (u10a1) Risk Matrix Introduction and Legend (Intent) The Risk Management Plan is used for mitigating risk in the chance that the project encounters any challenges along the way. In the chart below, the possible risk and what necessary steps that will need to be taken in the mitigation process is mapped out. The "Risks" are noted in a matrix format attributing low, medium, or high probability of each item along with the possible impact to the project estimated in the same format. Then the Risk owner is identified, then followed with the summarized mitigation response. Risk Description Probability (L, M, H) Impact (L, M, H) Risk Owner Risk Response (Mitigation) Marketing & Events L M Denise Pringle Extra time allotted for conflict resolution. Marketing team aware of time constraints. Delay of Design functionality L H Lena Meadows If room in current wearable design cannot accommodate the new microchip, design of wearable may have to be updated completely. Quality Control of device L M Lena Meadows 20 days are allotted for testing and quality control, 6 of these days are reserved for resolving errors. Delay of chips from manufacturer L H Lena Meadows Securing the order early Project Quality Plan (u10a1) Introduction (Intent): The intent of the Project Quality Plan is to manage Cosmo Inc.'s quality of newly upgraded product, promotions, events, and release's that are included in the project. Outlined below are the processes and quality control checkpoints that have been implemented throughout this project. PM 5018 | Confidential

17 Marketing Campaign - Wearable Technology Plan Quality Management Processes:  Inputs : o Weekly 1-hour meetings with each team throughout the life cycle of the project. The meetings will ensure that the project is on schedule and help mitigate any challenges that arise. o Will use Microsoft Project as a calendar at all stages for the project for deliverables to be in line with due dates and work cycles.  Tools & Techniques: o Project Management Institute guidelines will be implemented for all stages of project's life cycle. o Employ the use of Agile Project Management to manage the project. o SCRUM will be incorporated to empower teams, enforce iterations are done according to the project schedule and a well-made deliverable is produced.  Outputs : o Deliverables of a quality product & new application o Marketing plan to carry Cosmo Inc though the next phase in expansion & growth. Manage Quality Assurance:  Inputs : o New updated wearable capable of heart rate monitoring.  Tools & Techniques: o Quality check -in's will be done at various areas during the project life cycle outlined in the WBS.  Outputs : o Deliverables of a quality product & new application Control Quality:  Inputs: o Quality Deliverable of Cosmo's new Wearable with Heart Rate Monitoring Capabilities  Tools & Techniques: o Agile development iterations and program management will be used in accordance with. Project Management Institute for the life cycle of this project.  Outputs : o Reliable product that exceeds Cosmo Inc.'s expectations in quality, reliability, and performance. o Increase overall market share within wearables. PM 5018 | Confidential

18 Marketing Campaign - Wearable Technology PM 5018 | Confidential

19 Marketing Campaign - Wearable Technology Project Close and Lessons Learned (u10a1) This project will allow Cosmo's Inc. to increase market share by the innovations outlined in the project. Not only will Cosmo's Inc. be one of the top wearables in the market, the new heart rate monitor application will position them to break into a new untapped market of medical grade wearables. The planned wearable market retention and expansion plan will launch them towards the future. Along the way profitability needs to stay in line with technological advances. Tools like MS Project, Visio, and Excel are updated software systems that can make projects cost less, flow with ease, and progress to deliverable states smoothly and with success. Lesson's Learned:  Use of updated and current technologies; The use of updated and cutting-edge technology is critical to the success of projects.  Using project management techniques like Agile to create a dynamic forward moving project that is on time and in budget.  Balancing the work needed with the project budget and weekly timeframes. With project segments having strict timeframes, the project manager must create a project work flow and schedule that fit select criteria. Using MS Project or some type of Gant chart is critical in creating a well-developed project plan from inception to project implementation.  How to successfully combine teams from diferent departments to produce the final overall project PM 5018 | Confidential

20 Marketing Campaign - Wearable Technology Appendices PM 5018 | Confidential

21 Marketing Campaign - Wearable Technology References Heagney, J. (2016, 08 16). Fundamentals of Project Management. AMACOM. Project, M. I. (2021). guide to the project management body of knowledge (pmbok® guide) - seventh edition and the standard for project management (english). Project Management Institute. PM 5018 | Confidential