As a group you decide on whether you want a traditional broadcast radio station or strictly an on-line station. Then you decide on the target audience, which informs your decision about programming. You will also set advertising rates to pay for everything, and create promotions to let everyone know about your new station. Everyone gets as assignment on the role they will play in this project: format implementation (music? talk? live? automation? hybrid?); set the cost of advertising and justifying it; deciding what to do about news or sports; create a promotion to publicize that a new station has arrived.
This is a group project. Everyone should play a role.
Those of you who looked at the Modules see different parameters than this. This is the less-complicated explanation but the idea is the same. You get to run a radio station–what do you do and how do you do it?
Example: target demographic: 18-30. Format: Fun Jack. Online station only, 60 hours a week, $200 monthly expenses for licensing fees and streaming software.