Innovative Solutions Ltd.

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Meeting Notes
Arrowhead Project - Update

Document ID: 10232050-XY Date: October 23, 2050

Time: 11:00 AM - 12:30 PM Location: Conference Room B

Attendees:

● Jonathan Spencer - Project Manager

● Jayne Smith - Lead Software Engineer
● Michael Miller - Marketing Head
● Emily Rutherford - Chief Financial Officer
● Alan Thompson - External Consultant

Absent:

Lisa Wu - On sick leave

Agenda:

● Review of action items from the last meeting

● Status updates on Arrowhead Project milestones
● Risk assessment and management
● Budget review and financial forecasting
● Q4 marketing strategies
● Open discussion and next steps
1. Review of action items from the last meeting:

● The team completed the beta version of the software on schedule. (Lead:
Jayne Smith)
● Partnership outreach was delayed due to pending agreements. New
completion target: November 15, 2050. (Lead: Michael Miller)

2. Status updates on Arrowhead Project milestones:

● Milestone 1: Completed
● Milestone 2: In progress (75% complete; estimated completion date: November
8, 2050)
● Milestone 3: On hold (requires additional resources; discussing during open
discussion)

3. Risk assessment and management:

● Key risk identified in software integration. Mitigation strategy: Hiring of a

specialist consultant (Action: Jonathan Spencer).
● Market competition is intensifying. Need for a more aggressive marketing
stance (Action: Michael Miller).

4. Budget review and financial forecasting:

● Current spending is within acceptable limits; however, potential overruns are

projected due to unexpected licensing costs.
● Emily Rutherford proposes a 10% contingency fund to cover unexpected costs.

5. Q4 marketing strategies:

● The pre-launch advertising campaign is planned to start on December 1, 2050.

● Partnership with major industry influencers in negotiation, announcement
expected by late November.

6. Open discussion and next steps:

● Discussion around the procurement of additional resources for Milestone 3.

Decision: Jonathan Spencer is to present a detailed proposal by October 30,
2050.
● Alan Thompson suggested a more streamlined communication process
between departments to expedite decision-making.
 ● The next meeting is scheduled for November 6, 2050, to review Johnathan's
proposal and assess the project status.

Action Items:

● Johnathan Spencer: Prepare and present a proposal for additional resources

by October 30, 2050.
● Michael Miller: Finalize partnership agreements and prepare for pre-launch
advertising.
● Emily Rutherford: Set up a contingency fund and monitor the budget for
potential overruns.

Document Prepared By:

Name: Annie Lee

Position: General Manager

Attachments:

● Project X Milestone Timeline.pdf

● BudgetReport_Oct2023.xlsx