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The Rise, Fall and Resurrection of Iridium:A Project Management Perspective

The Rise, Fall and Resurrection of Iridium:A Project Management Perspective - Coursework Example

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Summary

Raymond Leopold and Kenneth Peterson, the masterminds behind project Iridium, placed the proposal of the project in front of Robert Galvin, chairman of Motorola at that time. Robert Galvin agreed to invest in project Iridium and hence logically was the…

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The Rise, Fall and Resurrection of Iridium:A Project Management Perspective

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Subject: Miscellaneous
Type: Coursework
Level: Ph.D.
Pages: 5 (1250 words)
Downloads: 4
Author: fbins

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Motorola itself was the stakeholder with the largest share of 25% and also occupying 6 of the 28 seats in the board of directors. As a stakeholder, Motorola contributed a whooping $400 million towards the project and also made loan guarantees of $750 million to Iridium. Investments in Iridium started gaining momentum by 1992, when big names like General Electricals, Lockheed and Raytheon. Some companies wanted to be strategic partners while others chose to invest in satellite technology. Moreover, other companies awaiting FCC’s approval for starting similar projects also got attracted with the benefits that Iridium could reap in the future.

Iridium was successful in attracting financial support from the following 19 investors: (b) Iridium’s largest stakeholder was Motorola holding a 25% share in the company. This was the scenario when Iridium was just announced. At this time, Motorola was mainly responsible to build a solid financial foundation for the project to prosper. Later, investors were granted privileges like financial benefits as well as gateway operations. Investors not only scored over financial returns but they even got an opportunity to owe gateways and also distribution rights in a particular area.

In 1992, Iridium found strategic in GE, Lockheed and Raytheon. By this time, investors were mainly interested to tie strategic partnerships with Iridium although there were some investors who also expressed their interests in satellite technology as well. IRIDIUM came into existence with the need of a wireless telecommunication system that could be operational from anywhere in the world. Cellular technology seemed to be a credible option, but owing to the coverage offered, it was not suitable to go with cellular technology to acquire desired results.

Cell technology operates on a tower-to-tower transmission basis. A single tower can server a limited geographical area and also each tower or gateway had to be in

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