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Parking Guidance System Group Member: Chan Chun Kit(50115211) Cheung Chi Ming(50165054) Kwong Yee Fai(50177772) Lai Chung Wing(50276497) Sum Kai Yiu(50369026)

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Presentation on theme: "Parking Guidance System Group Member: Chan Chun Kit(50115211) Cheung Chi Ming(50165054) Kwong Yee Fai(50177772) Lai Chung Wing(50276497) Sum Kai Yiu(50369026)"— Presentation transcript:

1 Parking Guidance System Group Member: Chan Chun Kit(50115211) Cheung Chi Ming(50165054) Kwong Yee Fai(50177772) Lai Chung Wing(50276497) Sum Kai Yiu(50369026) Yiu Chi Kan(50524565) Course Instructor: Dr. John K L Ho MEEM5001 Enterprise Engineering Strategy ParkingCity

2 A newly established engineering company in HK in providing effective parking guidance system for all types of parking facilities. Shareholders of the company are graduates of City University of Hong Kong. No experiences in business, but the system is creative & able to meet the customers needs. Company Background

3 Mission Statement To be a pioneer for providing efficient, competitive technology and engineering services to multi-storey car parks through application of parking guidance system.

4 To recommend & promote the use of innovative parking guidance system in Hong Kong. To optimize the use of parking spaces & reduce the time in searching free parking space by introducing parking guidance system. To gain profit for the newly established company in HK on a 39% rate of return in the first three year of business. Goals

5 Objectives Guide the driver to find a parking space more efficient & convenient. Optimize the use of car parking spaces Provide a long term car parking space solution for users & operators. Prevent a long queue of cars from forming at the entrance point

6 Environment Analysis Finding a space in a car park can be difficult and stressful Reduce the time of searching space in order to reduce parking time Look for a solution for reduce air and noise pollution from vehicle in urban area No similar parking management system in HK Suitable for multi-storey car park in crowed district e.g. Central, Mongkok, etc

7 Environment Analysis Many car park developers: -Improve the facilities -No idea to implement the system -Look for a solution for reduce traffic problem outside highly-utilized car parks -Seek for improving the usage efficiency -Seek for efficiency and flexible management system -Increase the rate of filling parking space -Improve customer service and customer satisfaction

8 Market Survey Conduct market survey by questionnaire Apply Kansei Engineering (KE) - investigate the drivers feeling towards car parks -to identify the systems design Totally 41 questions 5 points Semantic Differential (SD) scale for rating Sample size: 150 drivers

9 The four main parts in questionnaire: Part 1:General opinions towards car parks Part 2:Opinions about different parking guidance systems. The proposed components involved: -Auto-allocation of parking space -Parking guidance indicator (Numerical indicator, Electronic display board) -Indicating light for parking space Part 3: Overall opinions towards the system Part 4: Personal information Market Survey

10 General opinions from surveys results: Most of respondents have experience of parking vehicle in highly-utilized car parks -They felt difficult and annoying when looking for parking spaces - They dont satisfied with the current parking indicators - Some of them considered the time taken in searching for parking spaces

11 General opinions from surveys results: Parking guidance system can reduce the time looking for parking spaces Parking guidance system can reduce the time taken for vehicles entering the car parks There is a need to install a parking guidance system in highly-utilized car parks

12 Based on surveys results: -Most of respondents dont like the computer assigning the packing space to them -They like numerical indicators more than electronic display board at the main entrance and each storeys entrance -They thought that too much information will distract their concentration in driving -They are welcome to install indicating lights for parking spaces Conceptual designs of parking guidance system

13 Key benefits for Drivers, Citizens and Developers For car park developers: Enhances customer service/customer satisfaction Increased rate of filling parking spaces Improved the profit Prevented excess queues at car parks

14 Key benefits for Drivers, Citizens and Developers For drivers and citizens: Improved traffic flow Improved road safety More convenient to drivers Reduced parking time Reduced atmospheric and noise pollution

15 Company Profile - Strength No competitors Cost effective for large scale multi-storey car park Easy to install Low maintenance cost

16 Company Profile - Weakness No experience due to no such system in HK No experienced staff Uncertain in actual demand No well known brand name

17 Identified Opportunities No competitors, profit margin is large Many cars in HK, but no enough parking space Multi-stories car park is arising in HK Resurrection of property market, large shopping mall will increase Government introduces pedestrian zone, this reduces public parking spaces in crowed district Future development in mainland China, system can be applied in large city and result in gaining more profit

18 Identified Threats Few people will use the car park if parking fee is high Indirectly affected by poor economic environment Easy replaced by other high/new technology Property developers are not rare, their decisions will affect the company development

19 Organization Wheel (3) (2) Customer (1)

20 Framework of Organization 1.) Core Target1.) Core Target –Customer: carpark management companies, facilities management companies of large shopping malls etc. 2.) Company Development2.) Company Development –Organization: All founders are partners –Teamwork: Partners + In-house staff –People: Services Team (on-site, remote and hotline support)

21 Framework of Organization 3.) Business Development3.) Business Development –System Design : simple but innovative, new system for car park management in HK, suitable for multi-storey car parks –Customer Services : meet customers expectation through questionnaires –Assembly & Test : local design –Operations : in-house staff

22 Quality Management ISO 9000 certified EMSDs approved system design All technicians are registered electrical workers All components & parts are RoHS & WEEE compliance Product

23 Develop & Evaluate Strategic Alternatives Two Strategic Alternatives for Operation: engineering services 2.completely out-sourcing Problems on Strategic Alternatives: 1.control of quality 2.communication 3.competition 4.coordination 5.costs

24 Alternatives for Operation ProCons * have own facilities/equipment * quicker reaction to problems * better control * good communication * have own facilities/equipment * higher business security * high set up cost * high training cost * cost on own facilities/equipment * no external technical support * complicated management Strategy of In-house Services

25 Alternatives for Operation ProCons * low set up cost * low training cost * less own facilities/equipment * external technical support * trained personnel available * flexible * loss of direct control * quicker reaction to problems * readily fixed costs * hidden costs * risk Strategy of Out Source Services

26 Evaluation of Various Strategies Management Strategies Alternatives of Operation In-house Staff Out-sourcing control of quality communication competition coordination costs

27 Technology Background Parking Guidance System A displaying system that provides the latest parking information and directs the drivers to free parking space along the shortest possible route

28 Technology Background Vehicle Detection Technology Ultrasonic Object Detector Technology Inductive Loop Detector Technology

29 Inductive Loop Detector A coil of wire is buried under the parking lot and connected to a roadside control box

30 Ultrasonic Detector

31 - Install in the ceiling on each parking lot - Ultrasonic frequencies (25.8kHz or 24.7kHz) - To detect the presence of car in the corresponding parking lot - LED is integrated in detector to indicated two possible states Free (Available) or Occupied - Low construction/installation cost compared with inductor loop detector

32 Ultrasonic vs. Inductive Loop Criteria for comparison include: Data accuracy, Environmental effect, Reliability, System expendability, Cost and Ease of installation and maintenance. ** UltrasonicInductive loop Data accuracy Good (98% or above) Environmental Effect Low Reliability Good System expendability GoodMedium Ease of installation/maintenance EasyDifficult Construction cost MediumHigh

33 Vehicle Detection Technology Ultrasonic Detector is selected in our parking guidance system Reference: ** Naoyuki Ushio and Toshiyuki Shimizu, Loop vs ultrasonic in Chicago: Ultrasonic vehicle detector field test isolating diffused reflection and enduring harsh environment, 1997

34 System Architecture of Parking Guidance System



37 Digital Display and Signage

38 Financial Analysis Source of Funding Friends Bank Loans Government Funding Scheme Easy to borrow Depends on degree of friendship High interest rate for small business More flexible Strict application requirement Tailor-made loan scheme

39 Financial Analysis Initial InvestmentHK $Annual ExpensesHK $ Office Hardware80,000Direct Cost Computer Software with license80,000Labor salary648,000 R & D cost60,000Other Direct Cost30,000 Marketing Promotion50,000Indirect Cost Working Capital50,000System Maintenance10,000 Quality Control & Testing10,000Marketing Promotion10,000 Taxes and insurance60,000 Other Indirect Cost30,000 Total330,000Total788,000

40 Financial Analysis Net income from each projectHK $ 1. Ultrasonic detector126,250 2. Microprocessor-based controller7,500 3. Equipment rack/housing for the controller1,500 4. Central workstation sever computer12,000 5. Parking guidance system software with 1 year license28,000 6. Hubs/Routers1,000 7. Building service provisions85,000 8. Related shielded cables54,400 9. Uninterruptible power supply27,000 10. LED display board13,000 11. Consultancy and installation & testing65,000 Total cost for 1 project420,650

41 Markup price for each project: 40% on the total project cost Selling Price = HK$ 420,650 X 1.4 = HK$ 588,910 Total Income from *projects each year: Total Income = HK$ 588,910 X 5 = HK$ 2,944,550 * Assume 5 projects each year Financial Analysis Income Calculation:

42 Consultancy Income: 80% of the project cost category 11 Consultancy Income = HK$ 65,000 X 80% = HK$ 52,000 Markup Profit = HK$ 168,260 Total Profit for each year = HK$ (52,000 + 168,260) X 5 = HK$ 1,101,300 Net Profit = Total Profit – Total Expenses = HK$ 1,101,300 – HK$ 788,000 = HK$ 313,300 Financial Analysis Net Profit for each project:

43 Financial Analysis Payback Period: YearCash Inflow HK$ Cash Outflow HK$ Net Cash Flow HK$ 1440,5201,118,000(677,480) 21,101,300788,000(364,180) 31,101,300788,000(50,880) 41,101,300788,000262,420 Payback period: 3 + [50,880/(1,101300 - 788,000)] X 12 = 3 year and 2 months

44 Time Schedule Month 1 Tasks Stage 1: Requirement Study (30 days) (1.1) Operation and Process Review (1.2) Technology Review (1.3) Requirement Checklist Finalization Stage 2: System design and development (100 days) (2.1) Design of System (2.2) Coding of System (2.3) Testing version/ Demo Version Roll Up Stage 3: System testing (60 days) (3.1) Design of Testing Plan (3.2) System Acceptance Testing and Pilot Run (3.3) System Fine-tuning (3.4) System Final Version Release Stage 4: Training and marketing (60 days) (4.1) Promotion Start (4.2) System Training for Supporting Staff Month 2 Month 3 Month 4 Month 5 Month 6

45 Strategy plans are fully achieve the mission statements & objectivesStrategy plans are fully achieve the mission statements & objectives The functions of the Parking Guidance System is based on the customers needThe functions of the Parking Guidance System is based on the customers need No market competitor as a result of high profit margin tends to shorten the payback periodNo market competitor as a result of high profit margin tends to shorten the payback period Conclusions

46 Question & Answer

47 Thank You !

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