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The
organization has decided to manufacturer Garbage Bins that ca automatically
move in front of the property when the garbage trucks arrive. The garbage bins
will be manufactured according to the guidelines given by the council. The key
partners and the complete cost structure of the project are presented below in
detail:
Cost
Structure of Self Bin Remover
In
the above table, the budget for the Self Bin Remover Startup is provided in
detail all the expenses including manufacturing the garbage bin, recruiting new
employees and the development of the smartphone application for controlling the
garbage bin is provided in detail. It is estimated that the total budget for
the project will be $269,950
|
Self Bin Remover Budget |
|||
|
Details |
Budgeted |
Budgeted |
Budgeted |
|
Primary Research |
|
|
|
|
Other research options |
3 |
$3,000.00
|
$9,000.00
|
|
Mobile App consultant
fee |
3 |
$2,900.00 |
$8,700.00 |
|
Research through
Website |
3 |
$850.00
|
$2,550.00
|
|
|
|||
|
|
|||
|
Total primary Research
Expenditure |
|
|
$20,250.00 |
|
Manufacturing Garbage Bin |
|
|
|
|
Raw Material |
50,000 |
$0.19 |
$9,500.00 |
|
Labor |
5 |
$6,000.00 |
$30,000.00 |
|
Factory Overhead |
5 |
$880.00 |
$4,400.00 |
|
|
|||
|
Total manufacturing
cost |
|
|
$43,900.00 |
|
Recruiting Experts |
|
|
|
|
IT Experts |
5 |
$90.00 |
$450.00 |
|
Software engineers |
5 |
$70.00 |
$350.00 |
|
|
|||
|
Total Recruiting
expenditure |
|
|
$800.00 |
|
Financial Experts |
|
|
|
|
Economist |
2 |
$20,000.00 |
$40,000.00 |
|
Financial analyst |
2 |
$30,000.00 |
$60,000.00 |
|
|
|||
|
Total Financial Expert
expenditure |
|
|
$100,000.00 |
|
Mobile Application |
|
|
|
|
Design Cost |
5,000 |
$0.15 |
$750.00 |
|
Security |
10,000 |
$5.00 |
$50,000.00 |
|
Backend Development |
15,000 |
$0.05 |
$750.00 |
|
Architecture |
5 |
$300.00 |
$1,500.00 |
|
Testing |
5 |
$9,200.00 |
$46,000.00 |
|
$120.00 |
$0.00 |
||
|
|
|||
|
Total Mobile
Application expenditure |
|
|
$99,000.00 |
|
Marketing Expenses |
|
|
|
|
Sponsorships |
3 |
$500.00 |
$1,500.00 |
|
promotion (Employee) |
3 |
$500.00 |
$1,500.00 |
|
Events |
3 |
$500.00 |
$1,500.00 |
|
Advertisement |
3 |
$500.00 |
$1,500.00 |
|
|
|||
|
Total Marketing
expenditure |
|
|
$6,000.00 |
|
Total Self Bin Remover
Budget |
|
$269,950.00 |
|
Key
Partners
The
key partners in the project are mentioned as follows:
·
Consultants
·
App developers
·
It Experts
·
Financial Analysts
·
Marketers
·
Local Council
All
the above-discussed individuals will be part of this project. The startup will
consult with the software consultant for the development of the mobile
application through which the customers can control their garbage bins. The
startup will hire the It experts who will help in application development
References
of Self Bin Remover
Jonathan, B. (2010). Financial Management.
Pearson Education India.
Morris, P., & Pinto, J. K. (Eds.). (2010). The Wiley Guide to Project Organization and Project Management Competencies. John Wiley & Sons.
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