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| Budget |
The biggest cost to the organization – and the biggest payoff – invariably comes in managing time commitments. Your senior project sponsor should expect to spend at least 10-15 hours (total) across key junctures of the project: an initial meeting, project proposal presentation, and final presentation. Project sponsors, no matter how senior, should be willing to have their viewpoints challenged by outside perspectives.
For day-to-day coordination (15-25 hours commitment), assign a project guide who has strong motivation for the project to succeed, as well as good access to resources. The role entails significant involvement, including at least 5-8 conference calls, organizing 2 steering committee meetings with senior project sponsors, and visits to the ISB campus.
Projects where management is willing to share proprietary data are far more successful. Recommendations can be customized to your situation only to the extent that company specific data is made available to the team. The ISB maintains strictest confidentiality and all participants - from students to faculty advisors and staff - sign binding Non-Disclosure Agreements (NDAs).
A budget of Rs1,50,000 (or USD $7,000 for foreign companies) is payable upon signing the project agreement with your team. 25% of the budget may be used as an advance towards incidentals and team expenses. You may wish to allocate additional budgets to your team, if required. |
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