In this report, I have mentioned the company ‘Bandcamp’ which supply the effective platform to the music listener through the music sale & streaming. This company founded in the year 2007 and according to the survey I founded that the earning of the company is about $100 million. The main aim of this organization is to be at the number one position in the sales of music so they need to improve the management and also have to improve the performance of the company so that they can achieve the goal of the company. In this report, I have mentioned the reviews of the company form the different members of the organization. Lastly, I have mentioned the project which is used to enhance the performance of the company and will help the organization to compete with the big market. The different key features &approaches of the taken project are mentioned which is replaced with the current features used by an organization.
The aim of the Bandcamp company is to enhance the overall quality and performance of the company so that the organization can compete with the whole market. The organization will inculcate the different project methods so that the performance of the company can be enhanced. According to me the two basic project methods that should be inculcated in the organization are Extensive Social Media integration and Online Chat Customer Service.
Project title: Chatbot system
The project title ‘Chatbot system’ means that the organization should support the chat system which helps in solving the problem of the customers related to the services provided by the organization. The chatbot is the automatic chat system in which the answers are pre-stored. As the customer types his query, the bot system will reply to those queries at that particular time. The Chatbot project will surely enhance the performance of the Bandcamp system as this chat system will provide the solution to the problems of the customers which they are facing.
The chatbot system may have many objectives. Some of them are mentioned below:
1. The main objective is to reduce the expense of the services.
2. A chatbot is used to enhance the interaction of the users with the organization and system.
3. We can even enhance the response system of the organization.
Risks with the project:
Following are the risk which is involved with the organization:
1. There can be the attacks like a man in the middle attack etc.
2. Sometimes it might be possible that the user is not satisfied with the response. Hence, the motivation is not fulfilled.
3. There can be a system failure.
1. This chatbot project should be done within 2-3 months.
2. The total cost will be £5000 which includes development, maintenance and security cost.
· When the chatbot is useful for the customer to resolve their problems which they are facing is the successful completion of the project.
· More and more user able to resolve their problems using the chatbot system and a large number of the user should interact with the system.
Project title: Social Media Interaction
Definition:The basic goal is to design the ‘social media integration’ to enhance the performance of the organization on the social media such as Facebook, twitter etc. More the organization will act on the social media more enhanced the brand image will be.
There can be various objectives of the mentioned project. Some of them are mentioned below:
1. This project will use to enhance the awareness of the Bandcamp among the users.
2. More and more users are targeted directly.
3. User to express the offers provided by the organization.
The risk with the projects:
1. There can be the negative feedback about the organization which leads to the bad reputation of the company.
2. Security-related issues can be generated while using social media.
1. This takes three to four months to complete
2. Total £8,000 to £10,000 will require to complete this project.
Brand image is successfully constructed on social media. More and more people are connected to the company through social media. Customers are well informed about the product and organization is reach to the customer increased (Zhang, 2016).
Risk and uncertainty:
Risk can cause the damage or loss to the organization. Hence, the prevention from the risk is necessary. The risk can decrease the quality of the project and can increase the cost of the product so that the reputation of the organization is decreased. Hence the risk management should be inculcated in the project to prevent the project from the loss and damage.
Uncertainty means the continuously changing environment of the organization which leads to the challenges for the success of an organization.
The time constraints for the development of any organization should be minimum. Timing constraints are the only factor which is directly proportional to the performance of the organization. Each task in the project should have the start time and the end time. According to this time, only all the task is performed so that the entire project should be completed on time. This will enhance the quality of the Bandcamp.
Technical and financial factors:
Technical factors can be defined as the tool used by the Bandcamp. This can be considered as the most important factors for the success of the organization. The equipment should be of good quality so that the performance of the organization can be enhanced.
The financial factor of the organization includes the following points:
1. Income: Income of the business should be greater.
2. Cost of goods: The cost of goods should be minimized so that every customer is able to purchase those goods.
Scope and Business benefits:
We can add the response time and the accuracy of the response in the scope of the Bandcamp. The response time means in how much time the chatbot system responds to the system and the accuracy means how accurately the chatbot system is replying to the customer. Whether the customer is satisfied with the response or not comes inaccuracy of the system.Also, we can say how many users interact with the Bandcamp.
Business benefits provided to the Bandcamp are as follow:
1. Enhance the services provided to the customer by providing the 24*7 supports and pro-active interaction of the customer.
2. This is an easy way to provide the global marketing to the organization.
3. Increase the social connectivity of the Bandcamp so that more and more user can be connected to the system.
Other than this I have chosen the two different type of the process for project selection; both the techniques are describing below:
Net present value:
This is the type of the analysis in the project that is used to find out the final outcome of the cost of the project.This is one of the tools that can provide the details about the costing and the duration at which the investment cost can be returned. For the project I have designed the two different other technique for the Bandcamp, one is the chatbot and the other is the social media. As per the project evaluation for both the techniqueas per the net present value the first project is selected as this has the high net present value.