Saudi Electronic University Business Idea Project

Artificial Intelligence could help in nearly any part of life, your project could be one that really shows what an AI can do! Saving time for workers gives them more time for analysis and decision making is a really great benefit. You need to work a bit more on the different sections in the document, please make sure they are containing the required information. A good document could help alleviate one of your constraints too!

The following sections need some updates in your document:

  • Executive Summary
  • Business Opportunity
  • Project Description
  • Estimated Timeline

Think of this document as one big paper you put down your idea, every part is connected: you pitch it to the executives in a summary, you show what opportunities and challenges the company currently have, and then describe how your project address it all. You describe the benefits and, constraints/dependencies and even give a timeline of how fast your project can start.

Resource

FOR FURTHER STUDIES

How to Write the Perfect Business Plan: A Comprehensive Guide
7 tips for presenting your business id

We’re looking forward to your next submission.

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Structure & Description

Students must complete all required submission parts (Executive Summary, business opportunity, project description, dependencies & constraints, benefits & ROI, estimated timeline).

? Students must complete all required submission parts (Executive Summary, business opportunity, project description, dependencies & constraints, benefits & ROI, estimated timeline).

You filled out the whole document, great job!

Resource

IF YOU WANT TO ENHANCE YOUR KNOWLEDGE IN THIS TOPIC

How to Write a Business Plan in 2021

Student provides relevant background information of the domain from which the idea is proposed. Historical information relevant to the project can be included. It should be clear how or why a problem in the domain can or should be solved.

? Student provides relevant background information of the domain from which the idea is proposed. Historical information relevant to the project can be included. It should be clear how or why a problem in the domain can or should be solved.

Artificial Intelligence is a great choice for emerging technology that could help in many facets of life. In your Executive Summary, you describe what is strategic management and what it does in your company, but you forgot to describe what is your project. You also need to write down why is the project important to you, your department, and the company. Also, add at least one example of how it would be used.

Challenges that the company currently has do not belong in this section: you could add one and tell how your project solves it, but not more!

THE EXECUTIVE SUMMARY IS:

? 2-5 paragraphs long
? Briefly explains your project, that uses an emerging technology
? Explains why is it important to you, your department, and company (it can be one sentence that contains all three)
? Have at least a brief example of how is it useful

SOME TIPS:

  • Think about the Executive Summary as a pitch for your executives that should convince them to start the project
  • You do not need to introduce your company, it is for the executives after all
  • You should not give a very detailed description of your idea here, but it should be understandable what it is about

Resource

THAT MIGHT HELP

How to Write an Executive Summary: A Quick Guide

Student clearly describes the challenge/opportunity to be solved. A discussion of the student’s personal motivation for investigating a particular problem in the domain is encouraged but not required.

? Student clearly describes the challenge/opportunity to be solved. A discussion of the student’s personal motivation for investigating a particular problem in the domain is encouraged but not required.

The Business Opportunity section is the core of your project, it should explain the current challenges and opportunities the company is facing, and your project can solve. In your description, you already jump to the solutions that you provide, which should be in the project description or benefits section. You can describe AI as an opportunity, that will bring X and Y benefits for the company if properly implemented.

You need to explain at least one challenge that your project solves, but the solution is for the Project Description section! Also, you need to get some domain-specific material that is connected to your project: describing what is AI is not related to any challenges or opportunities you describe, or your project directly.

THE BUSINESS OPPORTUNITY IS:

? 2-5 paragraphs long
? Explains at least one challenge/opportunity your project can solve
? Explains WHY is important to address these challenges/opportunities
? Includes some domain-specific information that is relevant to the challenge/opportunity (facts, information, data)

SOME TIPS:

  • To figure out what is the challenge/opportunity your project solves, think about WHY you picked this idea
  • This should be a description, not bullet points
  • For domain-specific information, you could get a graph of the industry your project is in, for example, if your project is about IoT devices, you can include a diagram what is the projected revenue of the industry: this would underpin why is it important to get the opportunity you pitch.

Resource

THAT MIGHT HELP

Write your Business Opportunity Statement

Student clearly describes a solution to the problem that is quantifiable, measurable, and replicable. The solution is applicable to the project domain.

? Student clearly describes a solution to the problem that is quantifiable, measurable, and replicable. The solution is applicable to the project domain.

Your project description is shaping up nicely, just needs a bit more work. In this section you need to directly address the challenges/opportunities you raised in the BO section, and tell how does your project solves them. Since you do not have a clear challenge/opportunity in the BO section (at least one that is not solved immediately) please add this part after you finished the Business Opportunities.

THE PROJECT DESCRIPTION IS:

? 2-5 paragraphs long
? Describes how the project works, what it is about
? Address how it solves the challenges/opportunities you raised in the Business Opportunities section
? The project is quantifiable, measurable, and replicable

SOME TIPS:

  • The project description does not have to go into a lot of details, a general overview is enough, highlight the emerging technology
  • The project must have some kind of metrics to measure the result of the project and know it’s successful, it can be “saved manpower hours” or “increased revenue in X sector”, you do not need to add any calculations, but a rough estimation is always welcome

Resource

THAT MIGHT HELP

How to Create a Solution Position Statement

The student estimates the timeline of the idea implementation using days, weeks, months, or quarters with an explanation of key milestones.

? The student estimates the timeline of the idea implementation using days, weeks, months, or quarters with an explanation of key milestones.

Saying something will take 12-16 months does not mean much. You should add the steps needed (milestones) and how much time it takes, with a small description for each of them. If you really want to be exceptional, create it in an image, similar to this:

Project-timeline-and-milestones.jpg

Resource

THAT MIGHT HELP

How to Create a Project Timeline: the Ultimate Guide
5 Project Milestone Examples (With Tips)

Outcomes

Student gives quantifiable estimation of the benefits and ROI of the idea.

? Student gives quantifiable estimation of the benefits and ROI of the idea.

The list contains some great elements, but you should explain them more to have a better document.

Student clearly lists their idea’s possible dependencies, constraints and risks.

? Student clearly lists their idea’s possible dependencies, constraints and risks.

One of your constraints is exactly why this document is needed to be excellent: to convince the management.

Resource

TO ENHANCE YOUR KNOWLEDGE

How to Identify Project Constraints

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