Project Initiation and Planning

will u provide the most relevant and consistent explanation for each question (around 600 wor ds in length for each question)

The situation Hyten Company was founded in 1982 as a manufacturer of automotive components. During the Gulf War, the company began manufacturing electronic components for the military. After the war, Hyten continued to prosper. Hyten became one of the major component suppliers for the Space Program but did not allow itself to become specialized. When the Space Program declined, Hyten developed other product lines, including energy management, building products, and machine tools, to complement their automotive components and electronics fields. Hyten has been a leader in the development of new products and processes. Annual sales are in excess of $600 million. The Automotive Components Division is one of Hyten's rapidly expanding business areas.

The problem Recently, the manufacturing team, in the automotive components division, has found a way to increase the size of the manufacturing run for a key electronic component, from 10,000 to 18,000 units, in increments of 2,000 units every month. Since the initial idea looks very promising, the company's the executive team is requesting a Project Initiation Document, to consider the idea and approve the project if necessary.

Questions :-

To prepare the Project initiation document, the manufacturing team wants to know:

1. Who should be included in the document as the key stakeholders of the project? Explain their individual roles. Use examples to support your views.

2. What specific factors should be considered to clearly define the scope of this project? Use examples to support your views.

3. What kind of financial consideration should be included to determine the project idea's feasibility? Use examples to support your views.

4. What are the most likely risk factors that should be considered in this project? Use examples to support your views.

5. What specific information should be included in the document? Use examples to support your views.

6. Based on the project's nature and extent, explain all the requirements of the project. Use examples to support your views.

Explain