| Costs | Amount | Revenue | Amount | |||
| Start Up | Initial App Development | $$ | Company Sponsorships and advertisements | $ | ||
| Sign Design and Development | $$ | App Store Purchases by Consumer | $ | |||
| Sign Construction | $$ | Government Subsidies for public transportation aid | $$$ | |||
| Operating | Server Costs | $ | ||||
| Electricity Bill | $ | |||||
| Maintenance and App Support Employees | $$ | |||||
| Future | Sign/App Software and Firmware Upgrades | $* | ||||
| $-Lower $$-Medium $$$-High |
1.Economic Impact
The product we have will have started up costs with mostly development of the system that will run the application and signs that will be constructed around campus. People will have to be paid to develop the app and design the software that all the signs will use to suggest traffic routes to people. In addition, construction crews need to be hired to install the signs themselves along the campus streets.
Operational costs will mostly be from the employees that will be needed to maintain the servers the signs and app will run from and from any maintenance of the signs themselves. There will also be the cost of electricity needed to keep the signs lit. Also, there may be costs in the future for any upgrades that need to be implemented to the entire system.
The main source of income should be government subsidies. The amount of money that will be made from app purchases (not a lot because the app needs to be cheap to be available to as many people as possible) and any advertising that can be squeezed in will in all likelihood not cover the costs to start and operate this product. This is where the government will contribute the rest to make this product a real thing. It can be expected that they will contribute because this product is aimed at helping the general public and reducing carbon emissions, which will save the government money in the long run.
2. Social Impact
Our project will eventually benefit everyone who commutes in the campus. Beyond saving people’s time on traffic, the project will ultimately create a great impact to people who visit the campus of Ohio State University. People will no longer complain about the disturbing constructions and annoying traffic. Comfortable transportation condition is an attractive point for new-coming students to consider about whether applying or not. Meanwhile, by saving time on traffic, the community will have better chance to work more efficiently with passions and efforts, which encourages the society to progress more positively.
In addition, our solution will also decrease the air pollution by reducing traffic, since the cars will not stay on the roads to create more greenhouse gases. It also helps the society to save more energy while it takes less time for vehicles to restarts which takes more gas. By reducing greenhouse gases, we prevent one of the most urgent issue global warming, and we hope this project advocates more and more people dedicate to protect the environment.
(Brainstorm Potential Cost and Values)