SO 600 Milestone Three Guidelines and Rubric Overview: The final project of this course will allow you to demonstrate your ability to analyze a company of your choice that is preparing to add a new product to its existing operation. You will be tasked with developing strategies to mitigate risk regarding the new product launch. Prompt: For the final project in the course, you will be tasked with identifying the manufacturing requirements, product feasibility, production constraints, profitability, and overall risk associated with introduction of a new product. For this milestone, you will analyze your selected company and offer guidance on how to address potential risk factors associated with the introduction of its new product and how to address the overall financial impact the new product will have on the company. Additionally, you will create a draft of management strategiesan analysis of your selected companyincluding guidance on how to form and appropriately manage the launch of a new product as well as the team that will be involved in its launch. Specifically, the following critical elements must be addressed: III. Risk and Financial Impact: In this part of the project, you will analyze your selected company and offer guidance as to how to address potential risk factors associated with the introduction of its new product and what the overall financial impact of the new product will be on the company. A. Identify potential risks to the company associated with the new product introduction. B. Develop a risk mitigation plan to address the previously identified risks associated with the introduction of the new product. C. Explain how your proposed risk mitigation plan will account for and address the previously identified risks. IV. Management Strategies: In this part of the project, you will analyze your selected company and offer guidance as to how to form and appropriately manage the launch of a new product as well as the team that will be involved with the launch of the new product. A. Describe the key aspects and characteristics of the team that you would build to support introduction of the new product. B. Select the stakeholder from the company that you would include on a cross-functional team to support the introduction of the new product. C. Explain how your proposed team is cross-functional and how that assists them in supporting the introduction of the new product. D. Develop a strategy you would use to manage the cross-functional team tasked with supporting the introduction of the new product. E. Explain how you could apply principles of total quality management (TQM) in managing the product introduction. F. Describe how you could utilize the total quality management (TQM) approach for fulfilling customer expectations associated with the new product. G. Explain how each department in the company would approach assessing customer expectations of the product. Rubric Guidelines for Submission: Milestone Three must be 4 to 6 pages in length (plus a cover page and references) and written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. Include at least five references cited in APA format. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions. Critical Elements Risk and Financial Impact: Potential Risks Proficient (100%) Identifies potential risks to the company associated with the new product introduction Risk and Financial Impact: Risk Mitigation Plan Develops a risk mitigation plan to address identified risks associated with introduction of the new product Risk and Financial Impact: Address Explains how the proposed risk mitigation plan accounts for and addresses identified risk Management Strategies: Key Aspects and Characteristics Describes the key aspects and characteristics of the team that would be built to support the introduction of the new product Management Strategies: Stakeholders Selects the stakeholders from the company to be included on a crossfunctional team to support the introduction of the new product Explains how the team is crossfunctional and how this assists in supporting the introduction of the new product Management Strategies: Cross-functional Needs Improvement (80%) Identifies potential risks to the company associated with the new product introduction, but risks are inaccurate or overgeneralized Develops a risk mitigation plan to address identified risks associated with introduction of the new product, but plan is inappropriate or overgeneralized Explains how the proposed risk mitigation plan accounts for and addresses identified risk, but explanation is inappropriate or cursory Describes the key aspects and characteristics of the team that would be built to support the introduction of the new product, but description of team is inaccurate or cursory Selects the stakeholders from the company to be included on a crossfunctional team, but selection is inappropriate or illogical Explains how the team is crossfunctional, but not how this assists in supporting the introduction of the new product, or explanation is cursory Not Evident (0%) Does not identify potential risks to the company associated with the new product introduction Value 5 Does not develop a risk mitigation plan to address identified risks associated with introduction of the new product 10 Does not explain how the proposed risk mitigation plan accounts for and addresses identified risk 10 Does not describe the key aspects and characteristics of the team that would be built to support the introduction of the new product 10 Does not select stakeholders from the company 10 Does not explain how the team is cross-functional 10 Management Strategies: Strategy Develops a strategy to manage the cross-functional team supporting the introduction of the new product Management Strategies: Managing Explains how principles of total quality management could be applied in managing the product introduction Management Strategies: Customer Expectations Describes how the TQM approach could be utilized to fulfill customer expectations Management Strategies: Department Explains how each department approaches the assessment of customer expectations Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Develops a strategy to manage the cross-functional team, but developed strategy is inappropriate or overgeneralized Explains how principles of total quality management could be applied in managing the product introduction, but explanation is inaccurate or cursory Describes how the TQM approach could be utilized to fulfill customer expectations, but description is inaccurate or cursory Explains how each department approaches the assessment of customer expectations, but explanation is inappropriate or cursory Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not develop a strategy to manage the cross functional team 10 Does not explain how principles of total quality management could be applied in managing the product introduction 10 Does not describe how the TQM approach could be utilized to fulfill customer expectations 10 Does not explain how each department approaches the assessment of customer expectations 10 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 5 Total 100%