STARR Method – Cost Calculation Situation: The group sought to explore the potential value of the proof of concept (product) for our client, Timothy Geesing. The objective was to determine the financial feasibility, emphasizing a thorough cost calculation.
Task: My responsibility was to conduct a detailed cost calculation to assess the financial viability of the proposed product.
Activities: I used the cost calculation template available on Blackboard from year 2, a pre-made Excel sheet. Then, I filled in all relevant components, including people costs, worked hours, fixed costs such as licenses and assets, and variable costs encompassing assets such as office supplies and provisions. To ensure transparency and traceability, sources were added to every filled-in detail. The research process was conducted following the ‘Action Research Model’.
Action Research Model:
1. Identifying & Defining the idea: As a group, the idea related to cost calculation was identified and defined. In the cost calculation all relevant components were included regarding the proof of concept as a start-up company.
2. Planning & Taking Action: Desk research was performed to gather information on the components. To improve the accuracy and transparency of the cost calculation, sources were to be added to every detail.
3. Observation & Data Collection: The plan was to fill in all components, while adding the respective sources. This was to be done by one or two people. Once a version of the cost calculation is done, this would be sent to a third member, the supervisor, who would check the filled in information and provide feedback. Based on feedback, changes could be made and sent back to the supervisor to be reviewed again. To ensure privacy, only public sources are added.
Together with Mark Kappen, I filled in the initial cost calculation. Mathijs Lehman was the supervisor.
4. Reflection: Upon reflection on the initial cost calculation, the roles for each member could be further specified.
5. Iterative Process: Based on the provided feedback, iterations were made accordingly. Every few weeks, the cost calculation would be checked on accuracy and iterated wherever needed.
I used skills related to enterprising competencies (7 & 8) to navigate and improve the overall research and cost analysis. This systematic approach helped me better understand the financial aspects and refine the cost calculation model.
Result: Initially, a detailed cost calculation was conducted, adding sources to every filled-in detail. The initial state was characterized by a lack of clarity regarding the roles within the team (See Figure 1). After getting feedback, especially about team roles, a second cost calculation was generated. The roles were specified further for each team member. (See Figure 2). Following these iterations, a tangible transformation occurred. The result was a clear and comprehensive cost calculation that incorporated all relevant components.
Reflection: In the process, I gained a crucial understanding of the financial requirements for bringing the proof of concept to life as if we were an actual company. Recognizing the importance of transparency, I acknowledge the value of repeating the meticulous process of filling in each detail with their respective sources, ensuring accuracy and traceability. Looking ahead, for future endeavors, I identify the need for improvement. If I were to approach a similar situation again, I would consider refining my methodology, perhaps by incorporating more collaborative input or streamlining the data collection process to enhance efficiency and accuracy.
Figure 1: ‘People costs’ for initial cost calculation.
Figure 2: ‘People costs’ after applied feedback from guidance teacher and team member Mark Kappen.
Justification of technical feasibility
In this project, I took on project management tasks like creating a team blog, setting up a Scrum document, and using Trello for a Kanban board. I also handled cost calculations to ensure project viability.
As a designer, I contributed by researching the target group, creating a one-pager, and designing a survey for user feedback. I worked on UI design for a better user experience. In my role as an artist, I created custom shaders, modeled assets, and designed UI art to add both visual and functional value to the product.
In summary, my involvement in project management, design, and artistic tasks reflects my contributions to various aspects of the project, aiming for success for the team and a positive impact on the end user.
Sources
Calculate hourly wage: https://www.omnicalculator.com/finance/salary-to-hourly
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