P1 Prepare the project aims and objectives for chosen research topic

MANAGING A
SUCCESSFUL
BUSINESS PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Prepare the project aims and objectives for chosen research topic ......................................1
P2 Formulate a project management plan which covers different aspects of scope, quality,
risk, cost, time, resources and communication ..........................................................................2
P3 Develop a Gantt chart and work breakdown structure to specify stages and time frame for
project completion.......................................................................................................................2
TASK 2............................................................................................................................................3
P4 Conduct a small level research by using quantitative and qualitative research tactics for
accomplishing project aims.........................................................................................................3
TASK 3............................................................................................................................................6
P5 Analysis of data and research by using appropriate techniques and tools ............................6
P6 Give appropriate recommendations after conducing research and analysing data to draw
valid conclusion........................................................................................................................16
TASK 4..........................................................................................................................................17
P7 Reflect on values of performing research to attain stated objectives and own performance
...................................................................................................................................................17
CONCLUSION .............................................................................................................................18
REFERENCES..............................................................................................................................19

TITLE: “To acknowledge the impact of a new product development on the business
performance while competing against multinational brand”. A case study on Jospeh Azagury .
INTRODUCTION
Globalisation is referred to define the enhancing inter-dependency of different cultures,
economies and populations due to cross-border trade of goods, services, investments,
information, people etc. It is an international trade in which investment flows among advanced
cultures and economies. In order to increase their presence and growth, it is important for
business organizations to globalize in different parts of world (Archibald and Archibald, 2016).
This research is going to cover about launching a new product which will be presented in
London Fashion week. This event is going to take place between 16th -20th February 2019.
Researcher is going to Emphasize on different requirements so that high revenues and profits can
be earned from new product. This assignment is going to include objectives and aims of project
along with aspects like Gantt chart, WBS, Questionnaire so that project activities can be
accomplished in a timely and proper manner. Also, different factors of project management plan
are discussed. Various recommendations and self-assessment by reflection is performed so that
concerned company can achieve their expected results desirably.
TASK 1
P1 Prepare the project aims and objectives for chosen research topic
Background of project
Joseph Azagury is a UK based leading footwear brand for women. Designs and product
offered by company are of premium quality and handmaiden. To enhance their business presence
and attain a renowned position among established UK brands, management of the company have
planned to introduce brand-new summer shoe in London fashion week that will be held in mid of
February. To launch a new product, various strategies and plan is required. In this context, a
project is initiated by the management of Jospeh Azagury so that product development can be
prepared before London fashion week. This will benefits them in competing against famous
national and international brands.
Aim of the project
“To acknowledge the impact of a new product development on the business performance
while competing against multinational brand”. A case study on Joseph Azagury.
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Objectives
 To identify the concept of new product development
 To acknowledge the impact of new product development on performance of business
organisations.
 To determine the factors which Joseph Azagury have to consider while launching new
product to increase their profits by 10% within 6 months.
Questions
 What is the concept of new product development?
 What is the impact of new product development on performance of business
organisations?
 What are the factors which Joseph Azagury have to consider while launching new
product to increase their profits by 10% within 6 months?
P2 Formulate a project management plan which covers different aspects of scope, quality, risk,
cost, time, resources and communication
Project management plans : It refers to the document which provides the detail
description about the stages of the project. Preparation of this documents helps the researchers by
providing them a baseline about how the research is to be conducted and what has to be achieved
by the preparation of this project. For researcher it is important to prepare project management
plan as it would help them in determining the outcome of the project, how the better results can
be achieved, what is to be measured and communicated (Basu, 2017). It serves as a blueprint to
the researchers in carrying out their research activities. While conducting research the researcher
must focus on certain factors which are as following :-
Cost: Cost can be anything which is measurable in terms of money . It is the amount that
has to be paid or given up in order to buy something. Management of the respective company has
decided to invest the amount of £100,000. all the activities of project will be performed within
this amount while the amount that has been estimated by the researcher £150 for carrying out
their research activities.
Communication: It is the most important factor that helps the researcher in preparing the
most effective project. For the manager of the respective firm it is essential to interact with their
employee's and customer through different sources like video calls, video conferencing, emails
and many more in order to collect effective information from the candidates. From researcher's
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side communication can be carried out by using SMS, face to face interaction and telephonic
conversations.
Scope: Scope of the research for company is wide. The hard-hitting training that is
provided to worker of respective firms provide several benefits. Like it increases the ability of
worker along with this it also helps management to reduce their employ turnover which
determines it helps them to gain their sustainability. On the other hand scope for the researcher is
able to gain in-depth information about training, recruitment and selection.
Time: Time is the crucial factor for the researcher to conduct their research. As an
estimated time will help the researcher to predict how much time it will take to carry out the
activity of research. The manager of the respective company has estimated the time to conduct
the research is of 12 weeks but the researcher have completed the work of research within a
period of 4 weeks.
Quality: It can be defined as the degree of excellence. The researcher have used the
qualitative method to for conducting research in order to come up with effective results for the
benefits of the company. Under qualitative method, a questionnaire is prepared. In context with
business organisation, to ensure high quality of project, employers are given training so that they
can hire, select and train employees in a proper manner.
Risk: For preparing an effective project, main risks which can be faced by the company
are lack of fund, technology, expertise and resources. The researcher also have to face the
problems and risk while taking out the research activities such as lack of funds , time and
accurate data etc.
Resources: The manager of the respective firm focuses on the resources such as capital,
employees and raw materials in order to increase their efficiency. Sufficient amount of these
resources will helps in completion of project with full efficiency. While the researcher focuses
on the resources such as use of internet, data and computer in order to complete their activities of
research.
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P3 Develop a Gantt chart and work breakdown structure to specify stages and time frame for
project completion
Gantt chart: It is referred as an essential tool for project management which is
formulated by Henry Gantt in 20th century. Gantt chart is a kind of bar chart which depicts the
end and start of each activity involved in a project. Gantt chart will benefit Joseph Azagury in
monitoring, scheduling and managing specific resources in a project so that development if new
shoe product can takes place in an appropriate manner (Chih and Zwikael, 2015).
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Illustration 1: Gantt chart for new product development
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Work breakdown structure: It is defined as a procedure in which complex projects and
its activities are divided into manageable and simple tasks. This structure benefits a business firm
in simplifying project execution so that expected results can be attained in a timely manner.
WBS will benefits Joseph Azagury in allocating their resources, budgeting project, scheduling,
quality control in a proper manner.
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