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project Report
on
new product development
in
KIVA
project Report
on
new product development
in
KIVA

Executive Summary
Kiva is an international non-profit microfinance funding organization that was founded in San Francisco in year 2005. it uses crowd funding to disburse microloans to communities that are underserved so that they can thrive well. Lender can be anyone where 100% of money goes directly to financing life venture such as agriculture, business and college. As of now, it only supports the undeserved communities in urban region but must develop new product such that to help some of the needs of rural area people as well who needs financial support.
The project plan aims to outline the development lifecycle of a new product for the target financial organization Kiva. The target organization requires the stages to be planned for developing a new product and contribute to the growth of its business.
This project plan identifies the objectives and scope of planning for this project. The key stakeholders are listed along with the responsibilities assigned to them for new product development. The phased strategy is discussed in detail followed by the project deliverables. The task breakdown structure shows the gantt chart, milestones and critical path analysis for the plan. Furthermore, the risks and constraints perceived in developing and launching the proposed product, project’s timeline and evaluation are identified.
Table of Contents
    S.No.
    Topic
    Page no.
    -
    Executive summary
    2
    -
    Table of contents
    3
    1
    Introduction
    4
    2
    Purpose and objectives
    4
    3
    Key stakeholders and responsibilities
    5
    4
    Project strategy
    5
    5
    Deliverables
    6
    6
    Task breakdown structure
    6
    7
    Project budgets
    7
    8
    Perceived risks and constraints
    7
    9
    Project timeline
    8
    10
    Project evaluation
    8
    11
    Conclusion and recommendations
    8
    12
    References
    9
Introduction
Kiva is the target organization which is a leading microfinance institution in America. It is a non-profit organization that was established in year 2005 and is in business since last 15 years with the mission to provide long term accessible non financial and financial services to the financing live ventures such as business, agriculture or the college. Organizational operations are carried out by disbursing the crowd funding into the loans. It has disbursed large amounts in loans with a high repayment rate of 99% and more than 100% operational and financial sustainability. Core client base of Kiva is in urban region currently who are being offered loans that limits the opportunities for organization to grow as there is saturation in the urban market. Thus, organization must consider new product development as opportunity to grow as strong competitor offering leadership in market.
Purpose & Objectives
· To create, maintain and increase target market for kiva.
· To identify the needs of customer in rural areas so as to develop a new credit product that is responsive to customer needs as well as profitable to organization.
Key Stakeholders & Responsibilities
    Stakeholder Class
    Type
    Description
    Customers
    Urban, Rural
    Organization’s stability depends majorly on customers’ preferences.
    Employee
    Employees
    Officers are the core assets of a financial organization. They interact with customers, build the organization’s reputation, support organization’s development, ensure business strategy and missions.
    Local Communities
    Local Communities
    The regional...