The Project Duration Practices In Jkr Construction Essay

The Project Duration Practices In Jkr Construction Essay In project management delivering the project as stipulated time in the contract is the most important factor to be focussed by the contractor and the implementer. Time is one of the three factors in project management should be given priority beside cost and quality. These three factors are related to each other and will give effect if one of these factors neglected. Time estimation has been identified as one of the key performance to be addressed in providing best value to construction client. To predict the construction duration of project based variables which are construction duration, building type, procurement route, contractor selection method, type of client, contract value, building function and complexity of the building. Construction management decisions are made based on schedules that are developed during the early planning stage of projects, many possible scenarios also should be considered during construction. Construction programmes are of utmost importance for a successful timely delivery of buildings or infrastructure projects. A well developed project schedule model is a dynamic tool that can be used to predict when the project work that remains to be completed can reasonably be expected to be accomplished. There is no specific tool in determining the accurate time for project duration practices in JKR. Most of the project duration was based on previous durations of the project which were not the same component of each project. By using the previous experience it may not shows the correct duration for the project. From this estimation of project duration JKR use the history of project duration based on the cost of the project, the size of the project, location and complexity of the project. This method is used since the existence of JKR. No specific method for estimate the duration of the project. It is important that the project implementation schedule is planned so that it functions according to determine other than completion on schedule without delays that could affect the other activities expected by the end-user.  Good schedule will ensure the implementation of realistic; given enough time for activities such design approval procurement, construction, tests the line and so on.   Scheduling that fails to take into account the important matters will result in projects having extension of time, or termination.  This will affect the end user involve additional expenses, including financial liability, employee relocation and storage of equipment and problems inventory. Delays in the completion of an entire project due to poor scheduling can also create havoc for owners who are eager to start using the constructed facilities (Gomar et al., 2002). 1.2 Problem  Statement Delivering the project on time as stated in the contract to the client is important to JKR as an implementer. The main problem in JKRs current practice is estimating accurate time in JKR project. Failing to deliver the project on time to the client will show the performance of JKR. One of JKRs objectives is to deliver the entire project in time as agreed with the client. Inaccurate time estimation will lead to late completion of the project. Inaccurate time estimation will cause the client additional operational cost. Incorrect in determine the project duration will shows the capability of JKR as a technical department in government. This is one of the reasons for project to be given extension of time (EOT) beside other reason such as the contractor selected cannot give full commitment to the project. Base on the JKRs record most of the project will have at least one EOT. From the data provided by JKR Project Monitoring Unit shows that more than 50% of the projects in Ninth Malaysia Plan supervised by JKR are completed behind time. This shows that time estimation for those projects are not accurate. This study will create a standard model to be used to estimate project duration. Aim of the study The main aim of this study is to develop appropriate mathematical model and strategies that can be used by the practitioners to improve current method of time estimation for JKRs projects. Objectives of the study To achieve this aim, the following objectives have been delineated To  identify  the factors that influence the completion time of the JKR projects. To study the relationship between JKRs estimated times with the actual completion based on 5 years historical data To develop mathematical model improving time estimating for school project by JKR. Scope of the study This study will use school building project by JKR only. Historical data for this study will rely on project that had been completed within past five (5) years. Mathematical model that will be used is multiple regression technique. Other more advance technique will be employed as the research progress and if found suitable. Research Methodology The methodology is divided into three stages. Planning Stage The planning stage is where the topic of study determines, aim and objective is set. Besides that literature search is done to accommodate literature review. Data Collecting Stage At this stage the methodology used in conducting this study is through literature search, data collection and structured interviews with the professionals or expert panel who are involved in time estimating of the project and questionnaires survey to JKRs staff who directly involved in determining the time of the project. Data collection will be gathered from the project as stated in the scope of study. From the results, the questionnaires survey will be conducted among JKR staff within the category of the study to assess their opinions of the findings towards the objectives of the study. Besides the questionnaires survey some interviews has also been conducted with the professionals as the expert panel, project manager, engineer and quantity surveyor to assess their opinions towards the findings based on data that have gathered. The interviews are divided into face to face questions and answers session and answering the structured questionnaires. The qualitative data generated from the questionnaires have been analyzed using statistical method and finally inferences were made to support the study findings. Reporting and Validating Stage At this stage a report will be produced based on the analysis done in second stage. The new process created from the finding will be tested and validated by the expert and selected JKR staff who involve in the process. The overall sequence of study process undertaken is shown in figure 3.1 PLANNING STAGE DATA COLLECTION STAGE REPORTING AND VALIDATING STAGE Study Topic Literature Review Objective (i) To  identify  the factors that influence the completion time of the JKR projects. Questionnaire Survey to evaluate current practice to determine factors that influence project time completion Validation of the model Develop mathematical model to express the relationship Interview with Expert Panel to determine current practice to determine the current process Objective (ii) To study the relationship between JKRs estimated times with the actual completion based on 5 years historical data Defining Study Aim, Objective and Scope Document search about current practice Objective (iii) To  develop  mathematical model  improving   time  estimating  for  school   project by JKR. To establish mathematical model to show relationship between completion time and factors that influence completion date Report and Finding Validation of the process Figure 1.1 Research Methodology Process CHAPTER 2 SCHEDULING PRACTICE IN CONSTRUCTION PROJECT 2.1 Introduction A skill essential for good project management is accurate time estimation. There are two important reasons to get time estimates right: To drive the setting of datelines for planning and delivery of projects To guide in determine the cost of contract. It is important to make time estimation as input into other techniques used to organise and structure all projects. People always neglected or underestimate the needed time to implement project. It may reduce large project to a series of smaller project if a good time estimation technique is being used. An important aspect of Project Management is scheduling time accurately. This is a critical component of Project planning as this will decide the deadline for the completion of a project, whether small, medium or mega. (Suri et al., 2009) Stage of Time Estimation Time estimation should be taken into account during planning of the project. During this stage it is important to set the target date for completion of the project. However, a reliable estimate of the construction time at the early stages of design development will reduce uncertainty, provide a key focus for the design team, and can prove beneficial to the overall management of the construction process (Nkado 1992). Forecasting of construction cost and time is very important to contract administration as time prediction and cost forming a basis for planning, monitoring, budgeting and litigation. There are two methods of estimating construction cost and time. According to available budget by the client and time constraint through a detailed analysis of work to be done and resources available, using estimates of the time and cost requirements for each specific activity The detailed estimation of construction activities usually relies on the estimators experience and judgement to correctly interpret project and site information and make the best possible decisions. (Alfred, 1988) Current Time Estimation With the use of computer software, the estimation of construction time can be determined. This is despite the fact that a number of computer-based time forecasting techniques have been developed through research and targeted to construction professionals, including quantity surveyors, for the purpose of forecasting construction time at early design stages (Brandon 1990; Nkado 1992). In some industries, there are books recording industry standards for use by cost and schedule estimators. In every industry area there will be a body of knowledge that associates the accomplishment of known work efforts with time duration. Interviewing those who have had experience with similar projects is the best way to determine how long things will really take. Construction time demands the focus of attention of all the key participants in the construction process and is often a basis for evaluating the success of a project and the efficiency of the project organisation. Alternative procurement approaches (Masterman 1992; Turner 1990) facilitate the overlapping of design and construction times. Scheduling is a process that anticipates the future and the time taken to complete the project can not be anticipated exactly. There are techniques that can increase the likelihood of being close if planning and estimating is done side by side, the project can be managed to achieve the schedule by accelerating some efforts or modifying approaches to meet required dates. Project Manager is responsible in developing a project schedule. According to Project Management Institutes Project Management Body of Knowledge defines a project schedule as the planned dates for performing schedule activities and the planned dates for meeting schedule milestones. The practice of schedule development leverages knowledge gained from activity definition, sequencing, and estimating to create a formal sequence of project activities, the project schedule, that outlines when required work should start, when it is expected to be completed, and who will do the work. Successful project managers are those who can plan for the unexpected and are flexible enough to accommodate the unforeseen. (Needleman, 1993) CHAPTER 3 SCHEDULING PRACTICE IN JKR PROJECT Introduction Time estimation still the main agenda when JKR preparing for any new project. It is very important for public projects to be completed on time, as the clients, users, stakeholders and the general public usually look at project success from the macro view where their first criterion for project success appeared to be the completion time (Lim and Mohamed, 1999). Construction time performance references has identified that time along with cost and quality are the three crucial success in construction project. Literature review on construction projects suggested that the common criteria for project success are generally considered to be cost, time and quality/performance (De Wit, 1988; Wright, 1997; Arditi and Gunaydin, 1997; Frimpong et al., 2003; Williams, 2003; Luu et al., 2003). 3.2 Time Estimation Practise by JKR In project management time is the important criterion in accessing the progress of the construction. According to Nkado (1995), construction time has been shown to be the most influential in the overall time performance of projects. Experience is one of important criterion in scheduling process together with experience with general scheduling in the project area. From the past experience of construction projects showed that more time was given during construction. This time was determined either by JKR or by the contractor depending on the type of tender. The fixed duration time was determined by JKR. Their estimated duration mostly is based on their past experience and as a result, these estimations were found to be inaccurate. The estimated time was done base on the rules of thumb. As the construction time often has to be compressed in order to fit into the imposed time constraints, there may be insufficient buffer time to overcome unexpected interruptions, or disturbances, to the planned schedule. (Isaksson, 2005). Practitioners prefer to rely instead on their experience or to refer to historical records of the time performance of past projects (Atkin et al. 1993). 3.3 Consideration for Estimation In determining the accurate time for the construction project, a few characteristic has to be considered. According to (Ahmad et al., 2006) data related to project characteristics were: contract size (in terms of Ringgit Malaysia); tender type three types of tender, i.e. open tender, open to bumiputra only (native Malay contractors) or selective tender; bid ratio (the difference between awarded bid and next lowest bid); bid spread (the difference between lowest and highest bid); percentage difference between awarded bid and estimate; extra project cost; number of bidders; size of contractor (class A, class B, class C and class D and E); project complexity (less complex, moderately complex or highly complex); type of design and supervision (projects both designed and supervised by appointed consultants, projects designed by consultant and supervised by government engineers, project both designed and supervised by government engineers); experience of contractors (similar to the work tendered, comparable or other experience); and project regional location (northern, western, eastern and southern region). Abd Majid and McCaffer (1998) conducted a literature survey on causes of project delay where they claimed that 50 percent of the delays can be categorized as non-excusable delays for which the contractors were responsible. A study by Kumaraswamy and Chan (1998) indicated that six common significant factors for both building works and civil engineering projects were: poor site management, supervision, low speed of decision making involving all project teams, client initiated variations, necessary variations of works inadequate contractor experience. In estimating time of project, a consideration on the characteristic and factors of the project must take into account during planning. The factors that JKR consider for the project that estimated are cost, location and complexity. These factors are taken base on the history of construction in JKR. In order to gets more accurate time estimating a few other factors should be consider not only the above. Reaction by JKR Top Management Director General of JKR Malaysia (2002) in meeting with Directors of JKR Malaysia has mention about the project duration implemented by JKR. Quoted from minutes of meeting the by Director General of JKR Malaysia (a) Mengambil maklum : (i) akan keterangan bahawa tempoh pembinaan yang ditetapkan adalah sesuatu yang tidak mustahil untuk dicapai. Pembinaan sekolah dalam tempoh 6 bulan merupakan sesuatu yang praktikal dan telah dibuktikan dengan kejayaan pembinaan Projek Sekolah Kebangsaan Paya Besar Lunas, Kulim yang disiapkan dalam tempoh tersebut. (ii) akan keterangan bahawa Projek SRJK(C) Tropicana Damansara berjaya disiapkan dalam tempoh 5.5 bulan sahaja. (iii) akan keterangan bahawa Pengarah INTAN begitu kagum dengan penyiapan Projek INTAN Kluang sehinggakan beliau meminta JKR melaksanakan semua kampus INTAN yang lain. Base on the above quote by Director General of JKR Malaysia it shows how important accurate time estimation in JKR Project to top management. JKR has used fixed duration time for the construction of school and it is successful. Another criteria to be consider in determining the time is method of construction. Most of the building projects implemented by JKR in the second half on Ninth Malaysian Plan (RMKe 9) are using Industrialised Building System (IBS). Base on the instruction by Ministry of Finance through the Treasury Circular Letters No 7 Year 2008, at least seventy percent (70%) of component must use IBS for government project. This instruction will lead to another criteria that accurately estimate the time in JKR project.

Bullying on the Bus Essay

By putting cameras and audio equipment in places where children congregate, schools can protect children from bullying and solve the problem. It is our responsibility to keep our children safe even if it is from other children. Bullying happens every day it happens in school, on the school bus, on the way home from school, in the bathrooms, in the hallways, even in the classrooms under the teachers noses. People may think that this is someone else’s problem that it is not their concern but it is everyone’s problem. While doing the research for this paper I came across this story written in a book by (Cheryl E. Sanders; Gary D. Phye) in the Kaplan Library. It was around February of 2003, it was about a 13 year old girl who was attending a middle school in a Denver suburb, she had to change schools for concern of her life (Kirksey, 2003). That wasn’t the first time she believed she was going to die. At the age of 9-years-old, she lost one of her legs to cancer. If that wasn’t a big enough scare for a child her age. As a young amputee, she should have made friends easily and obtained compassion from her peers, but in its place she faced bullying. An ‘‘under- ground’’ group of several girls used vocal hostility to terrorize her. Directing blasphemous and frightening messages such as ‘‘die, bitch, die’’ and ‘‘you better watch your back’’ via a website on the Internet as well as corresponding with her at school were the major settings for the bullying. After 5 months of living amidst this horror, she (with her mother’s reassurance) elected to depart the community middle school and register at another school. They wished to find a pleasing atmosphere where she could thrive, learn, and feel secure. Regrettably, statistics designate that this young girl and others like her are liable to encounter the identical antagonism at a fresh school (Beale & Scott, 2001). Bullying in School and on the Bus Intimidation is no longer considered a ‘rite of passage’ or ‘what kids do’ but instead has turn out to be an progressively life-threatening hindrance that can have lethal penalties. Youths all over the United States withstand harassment on a daily basis. Children who are targets need adult direction, counseling and a place to seek sanctuary. A better familiarity of mistreatment will help not only recognize the victims and bullies but also facilitate understanding of what it is, where it occurs and why it is happening. Terrorizing is described as recurrent acts of antagonism against an individual in which the perpetrator deliberately and constantly harms another entity who is frailer than themselves (Olweus, 1993; Nansel et al, 2001). The culprit’s intention is to cause anguish to their sufferers over time verbally, physically or both (Nansel et al, 2001; Olweus, 1993). According to the US Department of Justice (nd) bullying is defined as: ‘repeated harmful acts and an imbalance of power. It involves repeated physical, verbal or psychological attacks or intimidation directed against a victim who cannot properly defend him or herself because of size or strength, or because the victim is outnumbered or less psychologically resilient’. The types of belligerent comportments that terrorized children undergo vary according to the length and extent of suffer vary according to the length and extent of are possibly the most well-known methods of harassment and include: hitting, punching, kicking, tripping, taking or destructive belongings (Archer and Coyne, 2005; Lamb et al, 2009; Selekmanand Vessey, 2004). Verbal acts can be more subtle and include insults, name calling, and verbal threats (Juvonen, Graham, and Schuster, 2003). Another type of peer viciousness is known as interpersonal or indirect bullying. Relational bullying may include spreading rumors shunning or excluding, gesturing, Bullying in School and on the Bus facial expressions and pitting one child against another (Archer and Coyne, 2005; Lamb et al, 2008). ‘ Intimidation by substitution ‘ involves influencing others to badger the victim by having someone from the group pick on the victim on behalf of the tormenter. ‘Online’ bullying or ‘cyberbullying’ is another well-liked form of harassment. In this method, a bully uses the Internet or other forms of digital communication such as text messaging to insult or intimidate their victim (Juvonen and Gross, 2008; Lamb et al, 2009). There is not one universally accepted definition of cyberbullying however there are common themes. Cyberbullying can be defined as the use of information and communication technologies such as, the internet, cell phones and other devices that are used to send pictures or message; to hurt, embarrass and harass deliberately and repeatedly an individual (Bauman, 2010; Campbell, 2005; Shariff, 2005; Vandebosch and Cleemput, 2009). Cyberbullying can be done alone or in groups. What I learned about myself as a writer is I hate writing and I am no good at it. I have no problem with what to think about what to write its getting it down on paper and it sounding interesting. That there are a lot of aspect that go into writing and I would never be able to write a book. I learned how to write a thesis statement. That they were a lot smarter then I was when it came to writing. I am not sure if I did it correctly so I have no idea.

Principles of Marketing: New Product Development

UNIVERSITY OF THE PUNJAB GUJRANWALA CAMPUS â€Å"Principles of Marketing† â€Å"MARKETING PROJECT† â€Å"New Product Development† Submitted to: â€Å"Prof. Hafiz Ihsan-ur-Rehman† Submitted By: Usman Khalid Mc09023 Umar Farooq Mc09002 Faraz Raza Mc09040 M. Usman Mc09026 Jahangir Badar Mc09061 Ahmad Khayyam Mc09035 PROJECT CONTENTS 1. Segmentation & Target Marketing (Characteristics: How Product fit with T. M. ) 2. Product Ideas ,Screening, Concept Development & Testing. 3. Demand Estimation 4. Marketing Mix 1) Product 2) Price 3) Placement ) Promotion (Print, Radio & T V ads. ) 5) 5. Cost Estimation Variable costFixed cost P. U. P. U. 6. Plant Cost Segmentation & Target Marketing Segmentation: â€Å"Dividing a market into smaller groups with distinct needs characteristics or behaviors who might require separate product or marketing mix† Geographic Segmentation: We considered the Punjab as a whole market for our Product and divide the Punjab on the basis of cities e. g. Gujranwala, Lahore, Gujrat. We divide the GRW market on zone basis i. e. Satellite town, Model town, Urdu bazaar, People colony etc. Demographic Segmentation: (on the family size basis) Now we divide the selected urdu Bazar market on the basis of family size. A family whose has ten members need a wiper after six months or replacement of rubber is necessary after three or four months. Target Market: Our product is consumer product and basically for household. Our Targeted Market is Urdu Bazar in which we supply the wip wiper on different shops for sale. Our Targeted Customers are families in which there are five or more family members. Targeted market How wip wiper fit with the Target Market? Our Product Wip wiper is fit with the Targeted market of urdu Bazar because it is a household item and is purchased by the family people. And in Urdu Bazar of Gujranwala people come for purchase of different household items and our product wip wiper has additional quality of water supply so our Stall of product will attract the people and people will buy it due to its additional features. And there are also potential buyers of wiper that purchased the wiper after six months we can also convert these buyer on our product. Our product is consumer product. It is the need of every house and we are providing additional facility in this product i. e. water supply. In the selected targeted market, there will be many customers of product â€Å"WIP WIPPER† So its better market for our product New Product Development â€Å"New Product Development process consist of ideas generation, ideas screening, concept development and testing, business analysis, test market, commercialization and launching the new product in the targeted market. We discuss the four these things relating to our Product of wipe wiper. Now the detailed information of these is under: IDEAS GENERATION Following are the New Product ideas are generated by our Group members. Which are as follows: 1) Create such type of machine, that convert any blood group into required blood group. Just like we want â€Å"O Negative† and we have â€Å"A Positive† then machine will help us to convert our available blood group of â€Å"A Positive† into required â€Å"O Negative† blood group. 2) NOKIA mobile company should create that type of mobile in which translator facility is included. This Mobile Phone will give advantage to the people who are not able to speak different type of languages. ) There should be a wiper with additional qualities of water supply, detergent supply and cleaning the dust smoothly. Due to this product the work of women will be less and they have only to manage the wiper with water supply. 4) PlayStation gaming company should to create that type of glasses in which there is facility of watching television and playing different ty pe of games. This type of glasses will provide advantage to the people to watch different types of movies, program and play different type of exciting games during traveling. ) PHILIPS Company should develop remote control system for switching off the TUBE LIGHT when required without movement of the person. 6) Replacement of petrol tank into CNG tank in order to use the CNG instead of petrol in Motorcycles. It will be beneficial to save the petrol and to control the pollution in the environment because CNG is less costly as compared to petrol. 7) GFC fan company should develop that type of ceiling fans that are running with the help of SOLAR system without using electricity. And that fan should use separately its own SOLAR system. ) DOLCE and GABBANA wrist watch company should create that type of wrist watches in which Willkie Talkie facility is included. That gives advantage to the people for communicating with each others within a specific distance. 9) PEPSI company should make Ic e Cream products just like FEAST, CORNATO and OTHER similar Ice Creams that gives advantage to the PEPSI company for creating more market share. 10) HONDA motors should make that type of brake system in cars that immediately stop the cars from accidental events. Before any type of accident. 1) There should be a chip which are fix in front of the vehicles and by which the people can pay the TOOL TAX by prepaid accounts. That system will solve the traffic problems. 12) Use of internal device (Bluetooth) in CPU for data sharing IDEA SCREENING â€Å"Idea Screening means screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible†. Next step of new product development process is idea screening in which most suitable ideas with possibilities to develop the new product are selected. Following are the three ideas which are selected by us for new product development. After further verification and availability of resources we will select one of them for actual product development. 1) PHILIPS Company should develop remote control system for switching off the TUBE LIGHT when required without movement of the person. 2) There should be a wiper with additional qualities of water supply, detergent supply and cleaning the dust smoothly. Due to this product the work of women will be less and they have only to manage the wiper with water supply. 3) Use of internal device (Bluetooth) in CPU for data sharing Selected Idea for Project After screening ideas, we are going to develop a wiper with additional qualities of water supply, detergent supply and cleaning the dust smoothly. Due to this product the work of women will be less and they have only to manage the wiper with water supply. As this product will provide the much benefits to the people and there is need for such type of product in the society that will facilitate the women in their working, so there will be many customers for this product. So, our selected idea is the development of the wiper with water supply. CONCEPT DEVELOPMENT & TESTING The idea of wipe wiper with additional quality of water supply and supply of detergent for washing and cleaning rooms So, There is no need to separately handle the water pipe and other equipment for washing the rooms and places of houses and offices. This is the concept of the product that might facilitate the cleaning of offices and houses. By observation of time, Group thinking is to develop this idea into actual product. We have discussed the idea of wipe wiper with many people and we have listen favorable words for our product and the potential buyers are agree to buy the new product, if we offer for sale. After satisfying the test market we are in a position to develop the â€Å"WIP WIPPER† Demand Estimation In Gujranwala, there are 2200000 people and when we divide the Gujranwala population on 10 (Average family members in a family) i. e. 2200000/10 =220000 We received 220000 families and there is a need of a wiper after six month or there is need for replacement of rubber. So, we conclude according to above estimation that the demand for our product in Gujranwala will be 220000 or more or less wiper at the start of the business and there will be a decrease in the demand after one month. e considered that our demand will be 220000/6=36666 For expansion of business, we have to go in other cities and for proper running of business, this demand is not sufficient. This Business has attractiveness due to its expanding market. Marketing Mix â€Å"The set of all controllable tactical marketing tools i. e Product, Price, Place and Promotion that the firm blends to produce the respons e it wants in the target market. † Following are the elements of Marketing Mix: PRODUCT Any thing that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. LEVELS OF PRODUCT Before actual Product, we have to think on the three levels of the product. The more basic level of the product is the core benefit of the product. The second level of the product is actual product level and the last level of the product is to define the product at the augmented level of the product. Now we examine these levels relating to â€Å"WIPE WIPER†. 1:-CORE BENEFIT â€Å"Cleaning in minimum time. † 2:-ACTUAL PRODUCT: Now we turn the core benefit of cleaning in minimum time into actual product and define the product at this level. 1. NAME OF PRODUCT: Wipe wiper 2. FEATURES: Additional water supply of detergent, minimum time consumption, independently replaceable rubber. 3. DESIGN: Rubber of wiper will be in different colors, flexible handle pipe attachment. 4. QUALITY LEVEL: Use of high quality rubber and drying with in minimum time. 5. PACKAGING: It will be in simple packing. 6. BRAND NAME: â€Å"WIPE WIPER† 3:-AUGMENTED LEVEL 1. Facility for replacement of rubber. 2. Warranty within 2 months Product Inputs Following are the main elements which are used to produced the â€Å"WIPE WIPER†. These are 1. WIPER Rubber 2. Steel Sheet 3. Pipe of 4 Feet 4. Ball Wall 5. Spray Paint 6. Rubber Nails . 1 Piece of Nozzle PROCESS OF PRODUCTION Bend steel sheet to capture wiper rubber and then drill the sheet to capture rubber after that prepare wiper pipe and place ball wall and nozzle on it and made supply of water into wiper rubber then fitting and last step is colouring. PACKAGING: It will be in simple packing. LABELING There will only the name of t he brand of the wip wiper in the labeling at the front of the product . PRICING FOR THE NEW PRODUCT â€Å" The amount of money that a consumer has to pay to obtain the product. † Two strategies are used for setting prices for the New product. ? PRICE PENETRATION PRICE SKIMMING Price Penetration: Setting a low price for a new product in order to attract a large number of buyers and a large market share. Price Skimming: Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales. Pricing Strategy for our Product We select penetration pricing because there are enough competition in market. Our product is convenient product. It has certain features which are not available in the market such as water supply, detergent supply etc PLACEMENT OF THE â€Å"WIP WIPPER† We will use indirect marketing channel in the Gujranwala in which product is supplied to the retailer and then to the final user because the targeted market is short and within the city and easily manageable. But when we decide to launch the product outside the city means in an other city Lahore then we use indirect marketing channel (that will be vertical marketing channel) in which we will provide the product to the Distributor and then retailer and finally to the end user LOCAL MARKET OUTSIDE CITY MARKET Cost Estimation We are going to produced 1000 units of wipe wiper. Fixed cost estimation for this purpose is as follow: FIXED COST Plant cost 200000 Estimated life of plant is 10 year so 200000/10=20000 And 20000/12=1667 And1667/1000 so 1. 67 per unit Land cost 10000 per month so 10000/1000=10 so 10 is the per unit land cost. Advertisement Cost25*1000=25000 TOTAL COST |Variable Cost per Unit |= |323 | |Fixed Cost per Unit |= |11. 67 | | |= |334. 7 | |Advertising cost |= |25 | |Total Cost |= |359. 67 | Product PriceRs. 425 TOTAL VARIABLE COST For this the estimated variable product cost is under: |Items |Items name |Cost of input |Total cost | |No. |Per unit | | |1. |WIPER Rubber |50 |50*1000=50000 | |2. |Steel Sheet |30 |30*1000=30000 | | |6/8INCH of pipe 4 Feet |60 |60*1000=60000 | |3. | | | |4. |Ball Wall |100 |100*1000=100000 | |5. |Rubber Nails |5 |5*1000=5000 | |6. |Nozzle |10 |10*1000=10000 | |7. |colour |20 |20*1000=20000 | |8 |Wielding exp. 30 |30*1000=30000 | |9. |Labor cost |10 |10*1000=10000 | |10. |Electricity |3 |3*1000=3000 | |11. | gass |5 |5*1000=5000 | | |Total Cost |323 |323000 | Requirement for human force Labor: 4 skilled people are required for operating Plant and for distribution and sale, we are available. Requirement of Running Capital For proper running of Business there is approximately 500000 rupees are required. ———————– Gujranwala Satellite town Model town Urdu Bazar People colony Satellite town Model town Urdu Bazar People colony MANUFACTURER MANUFACTURER RETAILER Distributer CUSTOMER RETAILER CUSTOMER

Famous Mothers and Daughters in History