ISYE 320 Course Project _ Project Description: Your team is the system engineering team for a new product being proposed for your division. The CEO has approved a certain budget for its development, which includes two prototypes for testing. What product your division develops is up to your team (unrealistic but allowed here for flexibility). Your product cannot be entirely software but may be a combination of hardware and software. Your new product will target a wide commercial user market. Its design will include at least two different models addressing selected segments of the market. (Note: The four basic types of market segmentation are: 1. Demographic Segmentation 2. Psychographic Segmentation 3. Geographic Segmentation 4. Behavioral Segmentation) See the articles below to learn about market segmentation: https://www.yieldify.com/blog/types-of-market-segmentation/ https://www.universitylabpartners.org/blog/key-types-market-segmentation-everything-you-need- to-know https://www.similarweb.com/corp/blog/research/market-research/types-of-market-segmentation/ There are currently no major competitors for your radically new, improved conceptual design. However, it is estimated that you must have your product in the marketplace within 32 months to gain a large share of US and international sales. Your team needs to conduct i. Requirement analysis ii. Design analysis, including but not limited to the following: - Functional analysis Design for usability Design for reliability ― Design for manufacturing and assembly - Design for sustainability iii. iv. Design for maintenance Risk assessment Decision-making process (trade-off analysis and economic analysis) to eventually find the best design alternative for this product. Work together in groups of 2-3 for the project. Please DO NOT ask for working in groups larger than 3 people. Important dates: Midterm presentation: April 12, in class Final presentation: May 6 and May 8, in class Final report submission: May 13, 11:59 pm 1 ISYE 320 Course Project _ Notes: - - - There are undoubtedly certain sections of some of the analyses that you are not going to include in your report due to the nature of your product. The oral presentation should address your rationale for your decision to minimize or not cover those sections. This rationale is to be included in the written report as well. For some analyses, e.g., economic analysis, you may use reasonably estimated values. It is unrealistic but allowed for the purpose of this project. For each analysis, perform all the appropriate techniques you have learned in this course. Midterm Presentation Guidelines: - Each team has approximately 10 minutes to present (4 minutes for presentation + 6 minutes for Q&A and feedback). All team members are expected to participate in the presentation. Your presentation must include an introduction to the selected product, the analyses you have worked on so far, and your plan to complete the project. Deliverables: Presentation file (Canvas/Course Project/Midterm Presentation) Final Presentation and Submission Guidelines: - - For this course project, you will have an oral presentation. Each team has 15 minutes for presentation and 5 minutes for Q&A. All team members are expected to participate in the presentation. The presentation is the last week of classes (May 6 - 8) in class. You are also required to submit a final report. The final report should include all your analyses as well as your recommendations and conclusions. The final report is due by May 13, 11:59 PM. You are expected to work actively with your team members. There may be a peer evaluation at the end of the semester that may affect your grade on the project. Deliverables: 1) Presentation file (Canvas/Course Project/Final Presentation), Due before your presentation day 2) Final report (Canvas/Course Project/Final Report), due on May 13, 11:59 pm 2 ISYE 320 Course Project _ Rubric: - - - Midterm presentation (5 points) Effectively communicating study goals and findings (5 points) Depth and quality of the listed required analyses (45 points) Inclusion of market segmentation (5 points) Integration of presentation components (10 points) Organization, quality of presentation materials, verbal presentation skills, use of allotted time (5 points) Ability to answer questions (15 points) - Final report (10 points) 3