Guidelines for the Final Year b.e. Projects 2014 – Part 2

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  • 8/11/2019 Guidelines for the Final Year b.e. Projects 2014 Part 2

    1/18

    ujarat Technological University

    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    1 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    For students of the 7th

    Semester of the academic year 2014-15

    WORK COMPLETED BY MOST OF THE STUDENTS TILL NOW:

    The students have submitted (i) the details of their team and (ii) the title and abstract of

    their project to GTU athttp://projects.gtuinnovationcouncil.ac.in/login.aspxafter getting it

    duly approved by the Faculty -Guide and the HOD. (Reference 1:

    http://www.gtu.ac.in/circulars/14Aug/22082014_01.pdf)

    DESIGN OF THE PROJECT IN DETAILS:

    (i) Phase 1: (Reference 2: Page 10 of http://www.gtu.ac.in/circulars/14Jul/07072014_01.pdf):

    During this phase, the team of students have to visualize themselves as the user of their

    work, when it is completed. For doing it systematically, the observation matrix was given onpage 11 of the Reference 2.

    To respond to some of the common questions about the Observation Matrix, Exercise 1

    has been created. All the students are required to go through it. It will take no more than

    4 hours and it will facilitate completion of Phase 1 (Appendix 1 on page of this

    document.) in a systematic manner.

    The work under this phase may have been already completed by most of the students. Each

    college/ department can flexibly fix the time and schedule of such exercises under allocated

    time slot for final year projects. Normally these exercises may be finished in Degree Eng.

    Colleges by 13th

    September 2014.

    (ii) Phase 2: Exercise-2 (A): Exercise of PAS and PSAR. It has to be finished by 30th

    September

    2014. (Page 4)

    Exercise-2 (B): Hands on Exercise on Ideation Canvas after defining the final year

    IDP/UDP/Project: It has to be finished by 30th

    September 2014. (Page 5)

    Exercise-3: Hands on exercise on Product Development canvas: It has to be finished by 31st

    October 2014. (Page 10)

    Exercise-4: Hands on exercise on BMC (Business model Canvas) Exercise: This has to be

    finished by 15th

    November 2014 for those students who are presently in 7th

    Semester and who willmake one semester project (projects which will end this semester only). Those students, who will

    carry forward their projects from 7th

    Semester to 8th

    Semester as per the suggestions of their guide,

    will have to do this exercise by 1st

    February 2015. (Page 13)

    B) All the above exercises will be evaluated under continuous evaluation process in the

    college and marks will be given based on the performance of the teams. University have

    carefully conceived, benchmarked, tested such interventions and now implementing them

    to let every student in BE final year understand the entire innovation value chain of Mind to

    Market.

    http://projects.gtuinnovationcouncil.ac.in/login.aspxhttp://projects.gtuinnovationcouncil.ac.in/login.aspxhttp://projects.gtuinnovationcouncil.ac.in/login.aspxhttp://www.gtu.ac.in/circulars/14Aug/22082014_01.pdfhttp://www.gtu.ac.in/circulars/14Aug/22082014_01.pdfhttp://www.gtu.ac.in/circulars/14Jul/07072014_01.pdfhttp://www.gtu.ac.in/circulars/14Jul/07072014_01.pdfhttp://www.gtu.ac.in/circulars/14Jul/07072014_01.pdfhttp://www.gtu.ac.in/circulars/14Aug/22082014_01.pdfhttp://projects.gtuinnovationcouncil.ac.in/login.aspx
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    ujarat Technological University

    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    2 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Appendix-1: Exercise-1

    During the phase- I ,as per the previous circular , students are required to have a co-creation

    workshop where each team is required to go through this Project/IDP/UDP definition

    making canvas exercise (Observation Canvas Exercise) . The work of phase 1 is required to

    be documented and submitted along with the project report during project examination of

    the 7th

    semester.

    Process for Phase 1:(Observation Canvas Exercise)

    Objective- The objective is to adopt systematic approach based on design thinking and

    articulate the insights derived from empathization process including observation,

    interaction etc during ISY (Industrial Shodh Yatra) and finalise the problem/IDP/UDP

    definition and orient the task as their final year project in their 7th

    and 8th

    Semester.

    How to get the matrix?

    Students can download the PDF or JPEG version of the canvas/matrix from the link as given

    https://drive.google.com/folderview?id=0B1Zb2_c7CgvLTXZMSkdYM0RXME0&usp=sharing

    The size of the printed canvas in hard copy for hands-on work should be preferably A1.

    What should be the duration of this exercise?

    If college calendar is pre fixed it can be adjusted based on local possibility at

    department/college level. These 4 hours can be accommodated within the time allocated

    every week for final year project purpose.

    What will be the process for doing this workshop?

    1) Each team will fill their own canvas with sticky notes based on their observations and

    Industrial Shodh Yatra (ISY) insights. This process may take 2.5 to 3 hours.

    2) Each team has to present their poster in front of the whole class of 60 students and

    preferable in the presence of Project Guides. Other teams are supposed to comment on the

    effort of team with critical feedbacks and inputs. Each team is supposed to compile such

    feedbacks and comments and incorporate them in the report to be submitted to the

    departments after examination. If required, in response to the comments, the team mayredesign the canvas.

    3) Teams need to document the detailed insights in soft copy. This exercise report with

    the data filled in the canvas need to be attached in the project report to be submitted

    during examination. University will also share a web link later on when each team will fill

    their data for each box item in the canvas online at University portal. Teams have to fill

    their own inputs while making the canvas in the report of their project and also mention

    the inputs shared by all their classmates during presentation in front of whole class.

    https://drive.google.com/folderview?id=0B1Zb2_c7CgvLTXZMSkdYM0RXME0&usp=sharinghttps://drive.google.com/folderview?id=0B1Zb2_c7CgvLTXZMSkdYM0RXME0&usp=sharinghttps://drive.google.com/folderview?id=0B1Zb2_c7CgvLTXZMSkdYM0RXME0&usp=sharing
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    ujarat Technological University

    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    3 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Will this exercise be considered as a part of evaluation for final year project?

    Yes, like other components in final year project, such hands on exercises on various

    canvases will be considered as a part of continuous evaluation process of the respective

    department under final year Project. The external examiners during final project

    examination will see whether every team has thoroughly done such hands on exercises or

    not.

    If a colleges/ department wishes to modify such canvases it is welcome to do so. In such

    cases the branch/college is required to inform GTU by mailing the new template /canvas

    being used by them so that the best practices can be shared with all colleges for the largest

    impact. In such cases they can communicate to the university by mailing [email protected].

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    4 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Appendix-2

    Exercise-2 (A) For increasing the innovation quotient of each of your IDP/UDP

    PAS: Prior Art Search activity, which includes:

    Web search/research publication

    User feedback

    Patent search1 (PSAR)

    Vendor/market search

    1During this Patent Search and Analysis Report (PSAR) generation activity, every student

    within a team has to study at least 5 patents related either to his/her IDP/UDP or related to

    his/her area of interest. Analyzed data of each of these five patents is to be submitted online

    once the university declares the web link along with the project progress details. The team

    needs to compile the findings of each member during PSAR and make a report, which

    includes information about the following:

    What are other solutions already existing and what are specific patent claiming to

    solve the particular need or adding value related to your project?

    How the team wishes to improve existing patent claims by their own project?

    What would be new value addition/distinct feature the team will add to ensure that

    their solution becomes unique and novel? Understand which innovator /industry has already started working on your proposed

    improvements and this will let the team understand the orientation of future

    research in academia. The academic R&D can be streamlined by tapping such data

    where industry aspires to build product/process, which is going to come to market in

    future.

    The last years circular for PSAR is available on the web. Please await the new detailed

    circular on PSAR.

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    5 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Exercise-2 (B): Exercise on Ideation Canvas after defining the final year IDP/UDP/Project

    Objective: To adopt a systematic design thinking approach to ideate and approach towards

    solving the defined challenge, finalized in canvas Exercise 1. This effort will bring in various

    heuristics for solving a challenge using multiple ways. The team needs to pick up the best

    optimised path from the whole ideation output and proceed for product/solution design.

    Time line:The teams are supposed to do it in their respective branches/colleges before 30th

    September 2014. The colleges/branches will arrange these exercises in the time slot given

    under project. Each college and branch can flexibly arrange such efforts based on local

    scenario. The process will take on an average 3-4 hours per class of 60 students

    Process to conduct such hands on workshop:The process of conducting such workshop will be nearly same as above canvas exercise in

    problem definition finalising exercise on page 3.

    Ideation canvas workshop

    An ideation canvas is a rough whiteboard/sheet where ideas can be stretched into any limits or

    dimensions. Ideation session is not aimed at finding solutions to the defined problem. But its aim is

    to define the best possible problem and stretch out its possible scope. The field is set and the overall

    agenda is to build the clones of the ideas and pivot them throughout the canvas so as to discover

    new possibilities.

    Requirements:

    1.

    The ideation canvas in A1 sheet and Sticky notes.

    2. Required hall space for the ideating atmosphere/classroom etc.

    Steps:

    1.

    The Ideation canvas session should be average of 3-4 hours for proper brainstorming and flow of

    ideas. The project coordinator in presence of project guides shall mentor the students so as to

    extract the best and craziest ideas out of the students.

    2.

    Ideal flow in the ideation canvas would be from People, Activity, location and Props & Solutions

    but it is always recommended to jump through the blocks for proper ideation.

    3. Nothing should be written directly on the ideation canvas; whatever has to be written should be

    on the sticky notes. Later on the content written in every sticky note will be made in soft copy

    and a note will be prepared based on the content of the hard canvas sheet. This soft copy needs

    to be printed and attached in the final project report along with snap shot of the canvas with

    title as the hands on workshop on ideation canvas for project title of the IDP/UDP.

    4.

    Doesnt matter how crazy the idea, pin them down into the canvas. Even the craziest ideas make

    sense more often than not. Write every idea on the sticky note and stick them in the relevant

    canvas block.

    5. The teams can keep the physical canvas with them and show it to external examiners during

    project examination. Later they can submit them to their respective departments. The soft copy

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    6 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    of the document will be filled in a given web link provided by university which will be published

    later on during the semester.

    N.B. The exercise for both the canvases, given below, along with presentation will take an average

    of 3-4 hours. This will be taken out of the time, scheduled for the project every week. In the

    following exercise, the focus would be on finding different ideas for solving the pre defined

    challenge.

    Ideation canvas 1 for IDP/UDP exercise for BE final year students

    Continued ..

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    ujarat Technological University

    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    7 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Ideation Canvas 2 for IDP/UDP exercise for BE final year students

    Continued ..

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    ujarat Technological University

    (http://www.gtu.ac.in/)

    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    8 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Sample example look of Ideation canvas 1 for IDP/UDP exercise for BE final year students

    N.B. The example canvas as above has been taken from the hands on training workshop for faculty

    members (GTU Innovation Club Coordinators) of all GTU degree engineering colleges. The workshop

    was held on 2nd

    and 3rd

    August 2014 at GTU. During the exercise GTU Innovation Club Coordinators

    of different colleges worked in teams and offered a challenge to each team and to follow the process

    and to deliver desired results.

    After going through the exercise, all GTU Innovation Club Coordinators appreciated this and wished

    that such exercise must be done by all final year students as a part of their final year project. In

    response to the inputs from all the 118 faculty members from degree eng colleges affiliated to GTU,

    the Council of Deans suggested such workshops to be included at the right stage for all final year

    students for IDP/UDP.

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    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    FAQ and basic explanation of the terminologiesused in above canvases:

    Ideation Canvas 1 for IDP/UDP exercise for BE final year students

    People:

    Jot down distinct people you can think of or you are interested to solve problems for. You can

    segment them into various groups on the basis of their profession e.g. Teachers, doctors, athletes.

    Similarly segment them on the basis of their age, income and other characteristics.

    Activity:

    Write down whatever every segment of people do. Make the list, as long as possible- for example

    teachers: teach, take attendance, prepare class notes, prepare presentations, grade students,

    evaluate answer sheets and prepare question papers. Similarly; Shoppers, window shop, compareprices, visit stores, return defective goods, claim warranty etc.

    Situation/context/ location

    Every above mentioned activity can be done in a different situation, location or context. For

    shopping- prices can be compared online or offline. The location for shopping can be a mall with

    many available brands or a street shop. Sometimes you could be buying clothes for yourself and at

    times for gifting which depicts different contexts. For a teacher evaluation can be of either

    subjective or objective papers. At other times it could be of project reports. Evaluation can be either

    paper/document based or for continuous class behavior which depicts different contexts.

    Possible solutions/ props

    Note down the objects, technologies or solutions which may be possible outcomes to your

    idea/challenge. The prop need not be related as its always randomness that helps in finding new

    ideas. Consider an example where you are thinking about teachers and throw in a random solution

    like chemical reagent. Here as mentioned above the randomness in ideas can be implemented.

    Adding up People: Teacher > Activity: Evaluation > Situation: Subjective answer sheets; to the

    chemical reagent gives you a special pen based on acidity that makes the teacher comments tamper-

    proof.

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    GUIDELINES FOR THE FINAL YEAR B E PROJECTS 2014 Part 2

    10 | Gujarat Technological University (http://www.gtu.ac.in/) |

    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    Appendix-3: Exercise-3 Handson exercise on Product Development canvas

    Objective:This exercise is meant for giving strategic orientation to the project of each teamso that it achieves its true goal as defined by the previous canvas exercises. This exercise is

    more about developing strategy for the proposed product/solution design, after the team

    has successfully attempted the ideation process and has incorporated inputs from all

    stakeholders.

    Time line:This exercise has to be done by colleges/branches by 31st October 2014

    Duration of the exercise: This exercise will take average 3-4 hours including the presentation

    of the teams project canvasby each team. If required colleges/branches can certainly take

    extra time if it is required.

    Process to conduct such hands on workshop:

    The process of conducting such workshops will be nearly same as above canvas exercise in

    problem definition on page 3.

    A product development canvas is the ground where in the best possible ideas after the ideation

    session are pitched and nurtured to develop.

    Requirements:

    Same as that for the ideation session.

    Steps:

    1.

    The role of the mentor or the Faculty coordinator remains the same here as that of the Ideation

    Session.

    2. Adding content into the Product development canvas is also to be done by using the sticky notes

    as previously done in the ideation canvas. Later on each content written in the sticky note will be

    made in soft copy and a note will be prepared based on the content of the hard canvas sheet.

    This report soft copy need to be printed and attached in the final project report along with snap

    shot of the canvas with title as the hands on workshop on product development canvas forproject title of the IDP/UDP.

    3.

    Ideal flow in the Product Development Canvas would be from People, Purpose, Product

    Experience, Product Functions, Product Features, Components, Reject Redesign Retain and

    Customer Revalidation.

    4.

    The blocks should be filled in such a manner that, various Components enable a Product Feature,

    various Product Featuresfulfil a Product Functionand various Product Functionsresult into the

    Product Experience.

    5.

    Nothing should be written directly on the Product Development canvas; whatever has to be

    written should be on the sticky notes.

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    |Contact: [email protected],[email protected]| Tel: +91-79-2630 0699 |

    6.

    The teams can keep the physical canvas with them and show it to external examiners during

    project examination. Later they can submit them to their respective departments. The soft copy

    of the document will be filled in a given web link provided by GTU.

    FAQ and basic explanation of the terminologies used in the Product Development canvas

    People

    Make the segment more focused. Note down the kind of people you have in mind while

    developing the product and also the people for whom you are resolving the problem.

    Purpose

    The section should answer the following questions: What is the broad purpose of your

    product? What problem sector you want to target broadly or specifically? For e.g. you may

    want to target transport sector or you may want to come up with options for Healthier

    foods. If you already have a specific purpose, then go ahead with it. Like solving the problem

    of measuring footfalls in a retail store or measuring consumer interest in specific products

    on retail shelves.

    Product Experience

    Focus in depth on how the customer feels for your product/service concept. Mention every

    kind of experience you would want your user to feel, enjoy or avail. Also make a list of all

    user problems you want to address and how user feels about each of his problems.

    Product Functions

    Product functions deliver the product experience. Convert the product experience into

    functions for your product/service. What functions your product should perform to meet

    the customer experience you have just identified in product experience? Mostly the user

    experience/needs will be your product functions. e.g. if you want your users to feel

    comfortable & maintain right body posture while sitting on a chair, function provided must

    be comfortable sitting and healthy posture. If you are developing software, user

    requirement for faster experience would mean that faster working will be a function of yourproduct. Same for a home delivery service.

    Product features/ key components

    Features power the product functions. Find product features that will deliver the product

    functions you have identified. For a comfortable chair, ergonomic design would be one

    feature; footrest or armrest could be more. And how about a mobile or a cup holder?

    Multiple product features could lead to the same function. Features could also be

    components. Like arm-rest, neck rest or footrest. A faster algorithm could be a feature

    powering the speed performance of software.

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    Product development canvas IDP/UDP exercise for BE final year students.

    Product Experience

    Focus on what the customer feels about a product and find out his problems. Jot down his

    key experience points, his wish list and the improvements sought.

    Customer Revalidation

    Check to see if the functions and features you have built solve his/her problem. Find if you

    have left some customer experiences which you are yet to address. Be ready to discover

    new user needs & jump back to product function stage.

    Reject/Retain/Redesign

    Retain what users like, reject what they dont want & redesign what can be improved to

    meet the user challenges. Run the Reject/redesign/retain on the functions first and then if

    required on individual features to find how well they are powering the functions of your

    product/service.

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    Appendix-4: Exercise-4 Hands on exercise on BMC (Business model Canvas) Exercise

    Objective:

    Business model canvas is used to validate the market significance of products and services which will

    be of technology nature in this case. Technology projects are often solutions or processes that solve

    a technical problem. However the market implementation of such solutions also require that the

    problem solution is designed to overcome not just the technical barriers but also market and

    business related barriers of costs, customer reach and collaborations and those that pertain to the

    practical nature of limited initial capacities within the team.

    Thus business model canvas can be used to visualise such market problems and customer

    expectations. This exercise will increase the market potential and penetration of technology goodsand services. This will make them more effective in market.

    This exercise will bring discussions on viability and cost effectiveness into picture along with

    their clear impact. This exercise will enable students to have a clear understanding on the

    steps required to ensure that whatever solution they develop as their project should have a

    user who can afford it with desired needs. This exercise also helps students to understand

    the true value of the proposed solution.

    Duration of the exercise: This exercise will take average 3-4 hours including the presentation

    by each team where all other team will comment and suggest on the presenting teams

    project canvas. If required colleges/branches can certainly take extra time, if required.

    Process to conduct such hands on workshop:

    The process of conducting such workshop will be nearly the same as the ideation canvas

    exercise on page 3.

    You may refer about this more at: http://en.wikipedia.org/wiki/Business_Model_Canvas

    https://www.youtube.com/watch?v=QoAOzMTLP5s

    http://en.wikipedia.org/wiki/Business_Model_Canvashttp://en.wikipedia.org/wiki/Business_Model_Canvashttps://www.youtube.com/watch?v=QoAOzMTLP5shttps://www.youtube.com/watch?v=QoAOzMTLP5shttps://www.youtube.com/watch?v=QoAOzMTLP5shttp://en.wikipedia.org/wiki/Business_Model_Canvas
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    BMC canvas for IDP/UDP exercise for BE final year students

    Ref-

    http://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_C

    anvas.png

    http://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_Canvas.pnghttp://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_Canvas.pnghttp://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_Canvas.pnghttp://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_Canvas.pnghttp://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_Canvas.png
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    Description about Various Terminologies and FAQ on BMC

    Steps to fill in the Business Model Canvas.

    1. Customer Segments:

    Customer Segment block is to present the list of Personas, organized by Customer Segment.

    If you have more than one segment. It is always recommended to prioritize them.

    Who would you pitch first if you could only pitch one? Who next? And so forth

    For whom are we creating value?

    Who are our most important customers?

    Examples:

    o

    Mass Market

    o Niche Market

    o Segmented

    o Diversified

    o Multi-sided Platform

    2. Value Propositions:

    The Value Propositions business block aims at providing answers to the following questions:

    What value do we deliver to the customer?

    Which one of our customers problems are we helping to solve?

    What bundles of products and services are we offering to each Customer Segment?

    Which customer needs are we satisfying?

    Examples:

    o characteristics

    o Newness

    o Performance

    o Customization

    o Getting the Job Done

    o Design

    o Brand/Status

    o Price

    o Cost Reduction

    o Risk Reduction

    o Accessibility

    o Convenience/Usability

    3. Channels:

    This business block comprises of a list of important Channels, linked to Personas or

    Segments if they differ substantially. Make notes on what steps are relevant for each-

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    promotion, sales, service, etc. This business block provides answers to the following

    questions:

    Through which Channels do our Customer Segments want to be reached?

    How are we reaching them now?

    How are our Channels integrated?

    Which ones work best?

    Which ones are most cost-efficient?

    How are we integrating them with customer routines?

    4. Customer Relationship:

    The customer relationship business block answers the following questions:

    What type of relationship does each of our Customer Segments expect us to establish

    and maintain with them?

    Which ones have we established?

    How are they integrated with the rest of our business model?

    How costly are they?

    Examples:

    o Personal assistance

    o Dedicated Personal Assistance

    o Self-Service

    o Automated Services

    o

    Communitieso Co-creation

    5. Revenue Streams:

    Revenue Streams block of Business Model Canvas aims at answering the following

    questions:

    For what value are our customers really willing to pay?

    For what do they currently pay?

    How are they currently paying?

    How would they prefer to pay?

    How much does each Revenue Stream contribute to overall revenues?

    Types of Revenue Streams:

    o Asset sale

    o Usage fee

    o Subscription Fees

    o Lending/Renting/Leasing

    o Licensing

    o Brokerage fees

    o

    Advertising

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    o fixed pricing

    o List Price

    o Product feature dependent

    o

    Customer segment dependent

    o Volume dependent

    o dynamic pricing

    o Negotiation (bargaining)

    o Yield Management

    o Real-time-Market

    6. Key Activities:

    The Key Activities block aims at answering the following set of questions in your business

    model:

    What Key Activities do our Value Propositions require?

    Our Distribution Channels?

    Customer Relationships?

    Revenue streams?

    Categories

    o Production

    o Problem Solving

    o

    Platform/Network

    7. Key Resources:

    This segment of the business model canvas answers the following questions.

    What Key Resources do our Value Propositions require?

    Our Distribution Channels? Customer Relationships?

    Revenue Streams?

    Types of resources

    o Physical

    o

    Intellectual (brand patents, copyrights, data)o Human

    o Financial

    8. Key Partnerships:

    It is always recommended to map Key Partners to Key Activities. If an activity is key, its still

    part of your business model. This is a way to denote which specific Partners are handling

    various Key Activities for you. This business block is intended to answer the following

    questions:

    Who are our Key Partners?

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    Who are our key suppliers?

    Which Key Resources are we acquiring from partners?

    Which Key Activities do partners perform?

    Motivations for partnerships

    o Optimization and economy

    o Reduction of risk and uncertainty

    o Acquisition of particular resources and activities

    9. Cost Structure:

    Cost Structure business block provides a list of Cost Structure elements with notes on their

    relationship to Key Activities.

    This block in the business model answers the following questions:

    What are the most important costs inherent in our business model?

    Which Key Resources are most expensive?

    Which Key Activities are most expensive?

    Is your business more

    Cost Driven (leanest cost structure, low price value proposition, maximum

    automation, extensive outsourcing)

    Value Driven (focused on value creation, premium value proposition)

    Sample characteristicso Fixed Costs (salaries, rents, utilities)

    o Variable costs

    o Economies of scale

    o Economies of scope

    References:

    http://www.alexandercowan.com/business-model-canvas-templates

    http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf

    For references of some real life case studies, please see the following:

    Blog link to IDEATION and PD (Product Design) hands on workshops instructions.

    http://www.openfuel.org/blog/instructions-for-ideation-and-product-development-

    sessions-for-gtu-engineering-colleges/

    Blog link to Steps to fill in the business model canvas.

    http://www.openfuel.org/blog/steps-to-fill-in-the-business-model-canvas/

    http://www.alexandercowan.com/business-model-canvas-templateshttp://www.alexandercowan.com/business-model-canvas-templateshttp://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdfhttp://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdfhttp://www.openfuel.org/blog/instructions-for-ideation-and-product-development-sessions-for-gtu-engineering-colleges/http://www.openfuel.org/blog/instructions-for-ideation-and-product-development-sessions-for-gtu-engineering-colleges/http://www.openfuel.org/blog/instructions-for-ideation-and-product-development-sessions-for-gtu-engineering-colleges/http://www.openfuel.org/blog/steps-to-fill-in-the-business-model-canvas/http://www.openfuel.org/blog/steps-to-fill-in-the-business-model-canvas/http://www.openfuel.org/blog/steps-to-fill-in-the-business-model-canvas/http://www.openfuel.org/blog/instructions-for-ideation-and-product-development-sessions-for-gtu-engineering-colleges/http://www.openfuel.org/blog/instructions-for-ideation-and-product-development-sessions-for-gtu-engineering-colleges/http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdfhttp://www.alexandercowan.com/business-model-canvas-templates