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Managing Successful Business Projects

   

Added on  2021-01-02

28 Pages5926 Words195 Views
Managing A SuccessfulBusiness Project

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3(A) project aims and objectives .............................................................................................3(B) Project management plan that covers various aspects including cost, scope, time, quality,communication and resources................................................................................................4(C) Work break-down structure and a Gantt chart to provide time frame and stages............6(D) Carrying out small scale research by applying qualitative and quantitative researchmethod....................................................................................................................................8(E) Research and data using an appropriate tools and technique ........................................10(F) Appropriate recommendations as a result of research and data analysis.......................19(G) Value of undertaking the research to meet stated objectives.........................................20CONCLUSION..............................................................................................................................20REFERENCES..............................................................................................................................22APPENDIX....................................................................................................................................23

INTRODUCTIONGlobalisation is a process through which a firm expand its operations at new marketplaceand increase their market share in effective manner. In addition to this, it is an integration ofgood at new market which helps the firm in building interconnections with new firms. It alsohelps the firm in enhancing the awareness about their product and co-operation with the globalfirms. Whereas, management of a project is defined as a process through which a project iscontrolled and regulated by the managers of a firm. For making success of the project, it is veryessential for the managers to evaluate all the risk and allocate the resources for it. The chosenorganisation for this assignment is Debenhams Plc which is a multinational fashion retailer andbased in UK. This assignment includes aims and objectives for developing and marketing a newsummer shoe for London fashion week which will be held between 16-20th February 2019.project management plan will be prepared for meeting the objectives and aims of project. Thisreport will also discuss about research methodology, Gantt chart and questionnaire.Interpretation of questionnaire and recommendation and conclusion will also be prepared in thisreport.TASK 1(A) project aims and objectives Background:Debenhams plc is a multinational fashion retailer with the headquarters in London. Thecompany was founded by William Clark in 1778. the company has more than 170 locationsacross the UK, Ireland and Denmark. The firm is dealing in clothes, household items, shoes,accessories etc. There are more than 27000 employees who are providing their services in theirstores. According to financial report of company at the end of year 2018 the firm has earned£2,277.0 million revenue. The managers of Debenhams decided to launch a new product such asnew summer shoe in the London fashion week which will be held in February 2019 (Zein, 2016).For this, the managers of firm has to analyse the present trends of market along with the demandsand needs of customers which can be possible through conducting a market research. In order toconduct a successful research, the company have hired a project manager who has to preparedsome aims and objectives for it that are given as under:Aim:

“To develop a new summer shoe in market to enhance the market share and brand imageof company”. A case study on Debemhams plc.Objectives:For attaining the primary aim, following objectives are decided for business projectwhich are given as under:To develop a new product for increasing the market share in global market.To design a summer shoe by taking global competitiveness into account. To understand the relationship between New product development and businessperformance when globalising the business.(B) Project management plan that covers various aspects including cost, scope, time, quality,communication and resourcesProject management plan is a proper structure of project that is used for managing andcompleting the project in an effective manner. It provide support to the managers for completingthe work on the given time period. This plan is also provide guidance to the researcher so that avalid conclusion will be given at the end of project. The researcher and firm have to evaluate allthe factors which can affect their performance on newly developed summer shoe in the market.There are some factors which are given as under:Cost – This is the main part of any project because without proper funds no project cannot be executed in an effective manner. In order to execute a project, this factor is very essential.The manager of project has to analyse the fund which will be required for successfully executingthe project (Yoon, 2014). When the project manager will analyse the required fund then themanagers of firm have to allocate resources for funds which may be stakeholders of firm,financial institutions, banks etc. the management of Debenhams plc have to conduct a marketresearch through which they will be know about the current trends and preferences of customers.The cost has been assumed by the company for introducing new market shoe is 2,00,000 Pound.Whereas, the researcher of the project has been estimated the amount for conducting the researchprogramme in effective manner is 50000 pound.Scope- As the firm is a well known firm in the UK market therefore the management ofcited firm has decided to introducing new summer shoe in the London fashion week therefore thescope of this expansion for the firm is very wider for this project. On the other hand, the scope ofresearch programme is very high because the researcher have to conduct a market research

through which they will understand about the market conditions of London that will help thefirm in launching a new summer shoe in the London market.Time- In order to introducing and marketing of the summer shoe in London market, Themanagement of cited firm has estimated a time period of 4 month for this. Whereas theresearcher have estimated a time period of 2 month for executing the research programme ineffective manner which is enough for conducting the research in proper manner.Communication – This is a major or crucial element which can influence the success ofproduct in new market areas. The researcher have to use effective communication structurethrough which a valid conclusion will be received at the end of project. During the introducing ofa new product in the London fashion week. In order to communicating all informations with staffmembers in effective manner managers of Debanhams plc have adopted flatter organisationalstructure at workplace. For this, Managers of firm have to make better relations with thecustomers in which they can use various platforms for communicating with them such as socialmedia, T.V advertisement. The researcher can use various communication channels such asemails, messages and phone calls for getting their views and opinions on the project. With thehelp of this, they will able in spreading the awareness about product (Hillson, 2017). Whereas,the researcher have also communicate with the different individuals who are from differentculture and backgrounds for collecting the primary data. Risks- This factor can affect the project in major or minor level. The firm can facevarious risks such as less manpower, inappropriate funds or time at the time of launching theirnew summer shoe in London fashion week. Whereas the researcher have to also faces variousrisks in proper execution of research programme such as availability of short time period forcompleting the research, outdated technologies etc. As the company is launching a new shoe sothey have to evaluate the strategies of competitors which are already existing in this market froma long time period.

Quality- for getting success of newly designed product, Debenhams plc have to ensurethe quality of product through which they will able in attracting new customers towards theirofferings. They have to ensure about the quality of product so that they can make productsaccording to demand of customers. Through implementing effective machinery in productiondepartment, management of Debanhams plc will be able in providing better quality products totheir customers. Whereas, the researcher have to use qualitative method for collecting theaccurate and reliable data for the research. Resources- In order to complete a project in effective manner, firm have to use variousresources for launching and designing the new summer shoe such as workforce and appropriatefunds. With the help of such resources product will be sustain in the marketplace (Zein, 2016).On the other hand, researcher have also allocate some resources such as funds and time throughwhich the execution of research programme can be done in the given time frame. (C) Work break-down structure and a Gantt chart to provide time frame and stagesWork break-down structure – It is a process in which manager of project divide thecomplex work in small parts so that the project can be done in the given time period. It also helpsthe managers in executing the given project in an effective manner. The small parts are given tothe team members so that they complete their work with efficiency and efficiently. Through thisstructure the managers can also estimate the cost of project and execute it as per the goals andobjectives.

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