Accurate and Effective Project Management for Unilever's Aroma Premium Launch
Added on 2019-12-04
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Introduction of AromaPremiumEDSML Level-7 Unit 17 Project Development and Implementation for Strategic Managers
TABLE OF CONTENTSIntroduction......................................................................................................................................2TASK 1.............................................................................................................................................21.1 Analyze the factors that contribute to the process of project selection.......................................21.2 Develop Outline Project specifications for the implication of new product..............................61.3 Produce a specification for an agreed project to implement a new product...............................72.1 Produce a project plan for an agreed project............................................................................102.2 Match appropriate resources to a project..................................................................................132.3 Costing of all resources required for implementing lunching of Aroma plan..........................162.4 Agreed timescales for the management and implementation of launching of Aroma..............192.5 Plan appropriate strategy for the implementation of a project.................................................27TASK 3...........................................................................................................................................293.1 Implement a project in accordance with an agreed specification.............................................29Human resource involvement.........................................................................................................333.2 Appropriate measures to monitor and evaluate the progress of new product launch projectand its outcomes.............................................................................................................................333.3 Monitor the implementation of a project..................................................................................35Task 4..............................................................................................................................................384.1 Analyze the outcomes of a project in terms of the original project specifications...................384.2 Evaluate the outcomes of a project...........................................................................................394.3 Justified recommendations for improvements..........................................................................40Task 5..............................................................................................................................................405.1 Report of all project procedures used.......................................................................................40AC 5.2 Outcomes of the project in presentation.............................................................................42Conclusion......................................................................................................................................54References.......................................................................................................................................561
INTRODUCTIONProject development is part of project management in which transportation takes place alongwith improvement through construction. For effective development and implementation ofprojects it is important to form appropriate and meaningful strategies. On the other hand,project is a temporary task which is designed to form a unique and innovative product orservice. Project development and strategic management are interrelated to each other andtheir combination gives produce a meaningful and unique product (Boulmetis and Dutwin,2014). The current research project is based on project management in which it focuses onNexus Ltd. which is a management consultancy and training company based in London. Thisorganization provides support to their clients for developing business in different areasespecially in the launch of new products and services. Unilever is a client of Nexus and wantsto launch its Aroma Premium perfume in UK. Therefore, entire research will focus newproduct launch project of Unilever in London by Nexus. In the end, study is concluded in theform of summary which includes major outcomes and key findings. Research will focus onplanning, implementation and evaluation of project outcomes and reviews. Major goal of this project is to introduce a new premium perfume in the UK market for loyalcustomers. For attaining this goal project manager will focus on different objectives such asdiversification and increment of the product line. To increase the salesand profitability of theorganization and to develop a strong brand image in the UK market, etc. Reason behind the selection of this project is that organization wants to expand its business inUK market as well as also want to expand its premium product line (Davenport, 2013).Appropriate planning and management of the different activities before and after theproduction of Aroma perfume, organization can attain all the above discussed objectives in aneffective manner.TASK 11.1 Analyze the factors that contribute to the process of project selectionNexus ltd. is working for Unilever to launch a new perfume called Aroma Premium in themarket. Unilever aims to launch Aroma perfume in the UK market as along with lots of otherproducts and services in the market mainly through big retailers in the UK. This product willattract premium customers because its unique quality as high quality raw materials will beused in the production. Organization will use only natural resources for producing thisperfume but assure about the go green concept as well as sustainable development of the2
company. In addition, company will use plant and flowers as a source of essential oils andaroma compound (Restuccia and et.al, 2015). Its packaging will also be a unique featurebecause company will use crystal bottle with silver coated cap for presenting the rich andpremium look of the perfume. Along with this company will assure about the appropriatestorage of fragrance in packaging. Rational: Unilever wants to launch Aroma Premium perfume in UK. Major reason behindthis project is expansion of the business. Along with this, organization wants to diversify itsbusiness in new product line also. So, organization has selected this project because it helpsin increasing financial performance of Unilever as well as also helps in developing goodimage in mind of customers. So, for getting success and good return on investment Unileverhas decided to launch Aroma Premium perfume in UK. Regarding this, Unilever has hiredNexus Limited which is a management consultant and will help in developing plan forlaunching this product into market (Davenport, 2013).The entire project will be based onfollowing aim and objectives:Aim and Objectives:Aim:Major aim of this project is to launching aroma premium perfume of Unilever in UKmarket. Objectives:To determine different factors that can affect the launch of aroma premium perfume inUK market.To introduce project plan for launching aroma premium perfume in UK market. To estimate the required investment and cost for produce launch of aroma premiumperfume.To discuss major impacts of aroma premium perfume on Unilever. Research methodology: Nexus ltd. will use suitable methods of investigation which will helpin collecting facts and figures about new product launch project. Following methods will beused by researcher at the time of developing project plan for launching aroma perfume in UKmarket:Data collection: Nexus limited will use appropriate methods for collecting suitableinformation for launching Aroma Premium perfume in UK market. Managementconsultants will use primary and secondary data collection methods for getting3
information about customer’s needs and requirements, market trends, competitor’sstrategy, etc. For collecting primary information researcher will use questionnaire andsurvey methodology. It will help in collecting new and fresh information about theresearch subject (Restuccia and et.al, 2015). For collecting secondary informationauthor will obtain facts and figures from different sources such as websites ofcompetitors, journals, books, etc. Data collection process will play important role indeveloping project plan for launching Aroma Premium perfume in UK. Market research: at the time of analysing market researcher will focus on existingcompetitors and their strategy. It will helps in developing marketing and productionplanning for this project. For analysing market researcher will use appropriatetechniques such as swot and pestle analysis. These methods will help in analysinginternal and external market of Unilever in effective manner. Competitors: at the time of launching aroma perfume into the market Unilever willface a very tough competition from existing companies (Kerzner, 2013). Majorcompetitors will be Procter & Gamble, Revlon, LOreal, Zacobi, etc. competitoranalysis will help in determining various strategies of competitor which will playimportant role in developing own strategy. There are number of factors that management consultant at Nexus ltd. needs to consider forthe successful launch of the Aroma perfume, and some of these are as flows; Financial Factor: Finance is the backbone of each business and this helps to makefinancial decisions especially for the launch of new product or service. As managementconsultant for Aroma various financial aspects that may need to consider to come up onthe decision for example payback period, internal rate of return, profit and loss,consideration of inflation impact over the project time, impact of recession on project,depreciation of assets and money over the time period. All these financial factors needs tobe considered well in advance and should add up in the cost of the project to make surethat all finances are arranged in the beginning. All financial factors need to get agreedwith the client. As of the launch of Aroma £100,000 are set to invest. This involves all thecosting of technical resources, human resources, and any other costing factor that mayeffect on the financial statement of the project file. Marketing Factor: While formation of any new product launch, Nexus ltd. needs to focuson marketing factors to determine customer needs, innovativeness, competition,substitutes, etc. Nexus ltd. should advise Unilever about pricing strategy of Aroma duringthe launch period and then after the launch, they also work on product life cycle, impact4
of new product on customers, market structure, size of market, and to identify targetaudience etc. Most of the Unilever products are available through well-known UKretailers, and Nexus will help launch the Aroma using the same marketing strategy tomake sure all stakeholders are satisfied and can play their role in the success of thelaunch. Technical Factors: Manufacturing process of perfume includes different processes suchas collection, extraction and aging, etc. these procedures require latest technologies so,management consultants of Aroma perfume needs to focus on these technologies also.Nexus should also shed light on different type of techniques, machines, software,applications including their installation cost for this project (Johnson, 2015).Cost: Nexus Ltd. will pay appropriate attention towards the management of cost becauseinappropriate management will increase the total cost of the product which leads highprice and low demand. It will have negative impact on total income and sales. So,organization will use appropriate method of costing such as activity based costing forallocating financial resources on different activity which will reduce the total cost.Including this, Nexus needs to reduce the unnecessary cost burden, defects and wastageof resources which will help in reducing the total cost of the Unilever. Time scale: Before the selection of project it is important determine required timescaleneeded for successful competitions of that particular project. Unilever has sufficient timefor launching Aroma in UK market and has decided to move towards this project. Thereare number of techniques which can be used by Nexus ltd. such as scheduling, PERT andGantt chart, etc. Resources: Project management is all about managing all resources carefully. Thus,Nexus ltd. needs to focus on identification and arrangement of all necessary resources ineffective manner. Nexus should assure about that weather all the resources which arerequired for this project is available or not (Davenport, 2013). Including this,management consultant needs to assure that Nexus ltd. must be capable enough tomanaging all resources such as financial, human, technological and operational resources.Quality: Management of quality of products and services is significant for satisfyingcustomer’s expectation by providing valuable product for their purchase money. Formaintaining high quality management consultants needs to focus on reduction of defectsand wastage of resources. As per the management consultants of Aroma perfume,Unilever can use six sigma analyzes because it is one of the important tools for managingquality by reducing defects in total production of Aroma perfume. 5
Target market: Aroma Premium is an extension to Unilever’s premium products line-upas result this product will target high end customers who prefer expensive product andAroma will be available in high profile area and store in London such as, Harrods,Westfield Shopping Centre and The Perfume Shop.After considering all these factors the purpose of this project is to expand Unilever’s productline and business in UK market. Aroma Premium will help in diversify its business indifferent product line. It provides an opportunity to improve financial and economicalposition of the Unilever against its rival. Along with this, Aroma will help in attainingmission of Unilever which is ‘feel good, look good and get more out of life’. .1.2 Develop Outline Project specifications for the implication of newproductThe current project is based on the new product launch project of Unilever. Regardingthis, it, Nexus Ltd. will help in completing this project in effective manner. Project willcomprise planning, implementation, analysis, evaluation and review of findings of the newproduct launch project of Unilever by Nexus. Below are the project specifications for Aromaperfume;Cost: New product launch project will be connected with various types of cost whichare required to manage at the time of launching. These costs include labour cost,technological cost, marketing cost, etc. The estimated cost of this project will be£100000. Time-scales: The time required by this project for completion is 70 days for all phasesof the project starting from Generation of Idea to commercialization.Resources: Nexus Ltd. will require different resources for launching Aroma premiumof Unilever in the UK. This includes human resources, financial resources andtechnological resources (Schwalbe, 2013). Human resource for this project willcomprise Marketing Manager, Project manager, Technical staff, Admin officer andContract officer. Funds are the major financial resource for this organization and theseare required for purchasing machinery, computer systems and other technicalequipment for this project. Quality: Quality plays important role in product launching. The quality of the productshould be properly measured by the company by using various quality techniquessuch as six sigma, Lean methodology, total quality management, etc (ChengandTeizer, 2013). For the current project, manager will use the Total Quality management6
approach and six sigma analysis. Because, TQM will help in managing, controllingand monitoring quality of the product and services in effective manner.Monitoring of the project: Monitoring the progress and performance of each andevery task and activity is one of the major requirement of this project. So, projectmanager will use Gantt chart for monitoring every activity. It includes activities andduration which is required for completing different task. So, it helps in monitoring theprogress of the new product launch project in effective manner. So, project managerwill use this method and manager is totally accountable for the monitoring sessionbecause manager is capable enough to identify the any required changes in theimplementation for improving the performance of new product launch project(Restuccia and et.al, 2015). Stakeholders. For this project major stakeholders include customers, employee,shareholders, government and competitors. Project manager and Unilever needs tofocus on needs and requirements of customers towards this Aroma perfume.Management consultants of Unilever need to assure about the health and safety ofcustomers at the time of using this product. Including this, Unilever should provideappropriate benefits to every employee for improving their outcomes. In addition,organization needs to provide suitable dividend to shareholders for their investedfunds. Along with this, company should follow all rules and regulations of thegovernment which have developed for health and safety of customers and Aromaperfume. Therefore, Unilever needs to focus on interest and power of everystakeholder at the time of launching Aroma perfume. Outcomes of any previous experience, Project manager has conducted large numberof projects related new product launch in different products category. So, he hasexperience of project outcomes. As per the experience delay in project completion isone of the major problems for such kinds of project. However, for this product projectmanager needs to be very careful and assure about the completion of each and everytask on time because it is the first time he involved in Launching of a perfume.1.3 Produce a specification for an agreed project to implement a newproductThe objective of this product is to expand Unilever’s premium product line andbusiness in the UK market. This product will help in diversify its business in differentproduct line. It provides an opportunity to improve financial and economical position of the7
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