Technology Lifecycle Model (Essay Sample)
Written Assignment 4
The final project of this course will be built on written assignments 2 to 5. From Written Assignment 2, each written assignment is structured to build upon the previous ones. The final project which is also Written Assignment 6 will combine and integrate the four written assignments into one final paper. More details are available in Module 6.
Final Project Part 3
The focus on the third part of this project is to write a 2-3 page (350 words per page) paper in APA format addressing the following topics below for the new technology or application selected in the previous written assignments. You should also include as part of this paper any acknowledgements and resources used (e.g., websites, textbooks, articles). Each written assignment should include four or more references.
•Develop and describe a technology lifecycle model (including the time and cost of development, the amount of time to recover the cost, and return on investment (profit) based on the development costs and risks) and/or product lifecycle model (including timing, marketing measures, and costs associated with the life of a product) for the new technology or application
•The acceptance process as it relates to the technology or product lifecycle
Technology Lifecycle Model
Google in collaboration with Infineon is in the process of developingÂ a new interaction sensor using radar technology. This chip technology project called Project Soli provides a way for people to interact with their smartwatches without touching their displays (Turban, & Volonino, 2011). The project is at the point of testing where the interactions with the hardware is being tested how well they may work in products. After testing, the new technology will be released in the market. This paper describes the technology life cycle (TLC) model that project soli is expected to go through so as project the costs and profits of the new technology from the development phase through market maturity to decline of the product. It is important to note that TLC primarily focuses on the time and cost of development as it relates to the projected the commercial gain or profits of the product.
There are four distinct stages of technological life cycle. They are; research and development, ascent phase, maturity phase and decline or decay phase.
Research and Development â€“ This is the stage that identifies the greatest opportunity for costs reduction and improvement of the product parameters and performance. R&D costs are not as high as the overall life cycle costs of the product. However, better decisions are vital during this phase so as to have a positive impact of costs on the manufacturing and operational stages. Any modifications and attempts to influence costs during manufacturing and the operational stage are considerably limited (Boundless.com, 2012).
During this stage companies take into consideration risks in the investment of technological innovations so as to strategically direct R&D towards the most promising projects. Companies endeavor to work toward beta ...
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