Managing a Successful Business Project - Next Plc Assignment

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Aims and Objectives of the project.......................................................................................1
P2. Project management plan......................................................................................................2
P3. Gantt Chart and Work Breakdown structure........................................................................4
TASK 2............................................................................................................................................6
P4. Qualitative and Quantitative research methods for effective aims and objectives...............6
TASK 3..........................................................................................................................................10
P5. Evaluate research and data with suitable tools and techniques...........................................10
P6. Recommendation................................................................................................................18
TASK 4..........................................................................................................................................18
P7. Reflection............................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................20

INTRODUCTION
Globalisation is considered as the procedures by which firm is facilitating their goods and
services to all over the world. It will aids organisation to enhance their sales as well as maximise
the whole organisational productivity. Moreover, this is also, considered as the movement of
individuals, services, products and so on across geographical boundaries for developing the
enterprises as well as their market share (Hillson, 2017). This brings the various opportunities of
the enterprises for firm that not only maximise its market share but also enhances its
marketplace. For this research the chosen company is Next Plc is the well known British
multinational retailers fo home products, clothing and footwear. the respect firm is introducing a
new summer shoe for the London fashion Week which is organising in 16th -20th November,
2020. in which various firms are taking part for representing their products. In this research,
research is going to formulate aims, objectives, project management plan and research
methodology. Moreover, conduct the data analysis as well as facilitates recommendation to
company. Along with this reflection is given in context of overall experiences of the researchers
during research.
TASK 1
P1. Aims and Objectives of the project
Background of the project
Next Plc is a famous British multinational retail firm which was developed in year 1864
by Joseph Hepworth. However, the organisation have approx 700 stores from those 500 are
operating in UK. This is listed on London Stock Exchange. This has been analysed that
respective organisation is focused upon introducing new products that is new range of summer
shoes in London Fashion Week. For instance, manager of the company have hired a researcher
for understanding the globalisation as well as their impacts which may influence functions of the
enterprises negatively (Cleden, 2017). While introducing a new range of summer shoes in
London Fashion Week that will be going to held in 16th- 20th November, 2020. for it, investigator
should make efficacious aims and objectives according the given scenario. Aims and objectives
are discussed below:
Research Aim:
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“ To ascertain the effectiveness of new product development for organisation in
maximising growth opportunity for firm”. A study on Next Plc.
Research Objectives:
 To examine the effectiveness of new product development.
 To analyse the several ways by which organisation can introduce its products into market
place.
 To evaluate the relationship between new product development and business growth
opportunities.
Research Questions:
 What are the effectiveness of new product development?
 What are several ways by which organisation can introduce its products into market
place?
 What is relationship between new product development and business growth
opportunities?
P2. Project management plan
Project management plan is considered as the effective planning for implements as well
as efficacious project for company. It involves a documentation which aids in formulation
comprehensive base lines for attaining the set targets. This is very crucial for preparing an
effectual plan after ascertaining several aspects in order to accomplish the project in smooth
manner as well as reach towards the decided objectives (Polonsky and Waller, 2018). Moreover,
this is the structure which involves many strategies as well as stages for accomplishing the
project task. It is essential to effectively examine several aspects that impact the project
management plan like needed time, quality, cost included risk and much more. All these aspects
are discussed below:
 Cost: This is considered as the most curial aspect as without this any project plan or
research can not get implemented or carry out . It is the amount of money which is
needed to conduct the research in effective as well as efficient manner. It play significant
role into smooth functioning of investigation plan. Investigator required to a effectual
plans of the budget for performing research. For this research project, researcher is
approximating the overall cost is about 45000 pound.
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 Time: This is considered as the time duration needed for effectual accomplishment of
research. For completing the investigation on time, this is very significant that overall
activities of this particular research have to be initiated on time so that work have to be
accomplished in expected time duration. Investigator who are performing this
investigation have analysed that it need about 6 to 7 weeks to accomplish this.
 Quality: This aspects is considered as the standards for performing the research.
Research quality is the significant factors which required to be decided through
researcher before doing investigation. It will aids in distinguishing this from several
another investigators (Young, 2016). Moreover, it have to be good enough for
representing an efficacious as well as qualitative research. Through setting standard
research quality will aids researcher to set investigation standards that will assists them in
evaluating exact investigation.
 Risk: It is considered as the factors which will leads towards a negative impact of
investigation. This is significant aspects of the research for identifying the risk amount
included while conducting the investigation. Researcher have to examine the risk before
hand. So that they can formulate efficacious strategies in order to face or deal with the
risk. Factors of risk involves lack of human resources, time, funds and much more.
While performing this research the researcher have to make strategies to overcome from
this risk and accomplish research on time.
 Scope: This is also considered as the important aspect of project management plan. As
research scope aids researcher in examining their effectualness in upcoming time as well
as market places. For introducing a new product, its is essential to analyse chances of
product successfulness into market place. Through examining their scope this will assist
researcher to find out possibilities of success or failure of newly introduced goods into
market places.
 Communication: This is very essential for research to efficaciously communicate with
their group members and another individuals who provide assistances in performing
investigation. Communication is significant portion of investigation for accumulating
information from several sources (Tidd and Bessant, 2018). Effectual communication
will also assists in encouraging team members to accomplish needed work and
efficacious flow of research procedures. Moreover, in this research, investigator used
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various techniques such as several techniques such as social media that assists them to
reach towards individuals for conducting effective surveys. Mobile phones which assists
them to communicate easily with its group members and much more.
P3. Gantt Chart and Work Breakdown structure
Gantt chart
Henry Gantt , an American mechanical engineer and social scientist designed Gantt chart
in 1917. It is graphical depiction of a project schedule commonly used in project management to
show activities along with their timings. Gantt chart depicts bar charts which are used in project
for planning and defining sequence of tasks for completion. It helps in scheduling, managing and
monitoring tasks and resources in a project where it shows project timeline. Gantt chart is optical
view of tasks scheduled over time (Taherdoost and Keshavarzsaleh, 2018). This chart is consist
vertical and horizontal axis, where vertical axis shows tasks to be performed and horizontal axis
shows duration of each activity. Gantt chart displays contents of projects such as: starting date
of project, tasks, person working on project, time limit of each task, grouping and overlapping of
tasks and finishing date of the project. It commonly used in tracking project schedules and
provides clear illustration of project but it doesn't show dependencies of tasks on another tasks.
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