Managing a Successful Business Project

This document provides a comprehensive guide on managing a successful business project. It covers project aims, objectives, management plan, situational analysis, findings, and recommendations.

MANAGING A
SUCCESSFUL BUSINESS
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
A. Project aims and objectives.....................................................................................................3
B. Project management plan........................................................................................................4
C. Situational analysis.................................................................................................................8
D. Findings and recommendations..............................................................................................9
E. Performance review...............................................................................................................11
CONCLUSION..............................................................................................................................12
REFERECES.................................................................................................................................13

INTRODUCTION
Project management is defined as the strategic approach which helps organisations to
successfully achieve and manage their projects. The use of well defined project management
plans helps business to execute their projects with cost optimum methods and maximum
profitability. The management techniques become more critical when business service provider’s
plans to launch new products or services. It eliminates the project failure risk by promoting the
appropriate resource utilisation and management techniques (Kerzner, 2017).
Burberry Group is one of the leading fashion house with headquarter in London, UK. The
organisation is planning to launch its new summer shoe at London Fashion Week which will be
held in 2019. The development and execution of project plan is necessary so that project can be
completed within time frame and launch event can be made huge success for the organisation.
The report will provide a project management plan for the Burberry so that it can accomplish its
objectives. It will also provide the recommendations on the basis of research findings and
analysis so that better strategies can be developed.
TASK
A. Project aims and objectives
Aim:
The aim of the project is to formulate strategies and planning for launching new summer
shoes in the London Fashion Week.
Objectives:
The key objective of this project is to make the product launch event a big success for the
organisation. The fashion Week is one of the most remarkable events which will have all leading
fashion giants and fashion lovers. Since the event will have eyes from all over the world it
required for the organisation to assure that the product launch meets all the quality aspect so that
it can meet a big hit. Another crucial objective of this project is to assure that the project will
involve minimum risk and desired profitability goals with the proposed product can be achieved.

Timeframe:
For making the project successful at first it is required for Burberry to define a target
market and customer segment so that suitable market analysis and product requirement can be
defined. After defining targets suitable market research is conducted so that sales volumes can be
predicted and project success can be estimated. It will take one day to predict the estimated sales
and response of the audience in the event. Along with the market analysis competitive market is
also analysed so that substitution threats can also be identified and addressed (Papke-Shieldsand
Boyer-Wright, 2017). The next step in the project will include design of some products and
shoes which can be presented in the fashion week for the demonstration. After the product
preparation the shoes will be finally launched in the event among audience.
Sat 11/16/19 Sun 11/17/19 Mon 11/18/19 Tue 11/19/19 Wed 11/20/19
Defining a target
Forecasting sales
volume/market
research
Study of competitive
market
Design some items
and facilities
launch of new product
B. Project management plan
The project management plan for Burberry to achieve above mentioned aims and
objectives is as follow. The plan will include various elements such as resources, cost

management, risk management, quality and time management so that quality of new products
can be assured within specified time frame. The proposed shoes of Burberry will be designed for
summer so that people can have fashionable as well as comfortable shoes for the summer. The
shoes will also have features to measure metabolic markers from the foot such as hydration level
of sugar as well as heart rate. The calories burned, distance and time will also be measured by
shoes. The target of the shoes is global market which is the main reason to launch it in London
Fashion week.
Resources:
For the project execution various resources are needed such as space, equipments, people,
material and money (Meredith, Mantel and Shafer, 2017). Except for the production organisation
will use its own facilities and employees for the project. The existing investors are providing
sufficient support to start the production and development process. The raw material will be
purchased from the existing suppliers so that on the basis of long term relation organisation can
receive low cost supplies. The designing team will include 10 people and 9 employees for
production related activities. The separate teams comprising of 5 members in each of the teams
of marketing, finance and product testing will also be involved in the project. All the team
members are guided by project manager so that effective team work can be used to overcome
risks and maintain desired product quality. The design team will give their complete time to
develop shoes while after production is initiated marketing team will employ 60% of their work
in the promotional events and marketing functions. During every phase of the project finance
team will assure that budget considerations are taken into account and all the procedures are
followed appropriately (Fleming and Koppelman, 2016). To avoid any kind of quality issues
product testing will be performed with additional care so that desired product is developed.
Time management:
A work breakdown structure is used to complete the project. With the start up of the
project target and market analysis are conducted so that product can be developed. Once the
products are developed and they can be taken into production process so that in the event they
can be presented (Harrison and Lock, 2017). With the production activities Burberry will also

need to emphasis on financial and marketing activities so that in the event attention of majority
of audience can be gathered.
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
Defining a target market 8 hrs Sat 11/16/19 Sat 11/16/19
Auto
Schedule
d
Forecasting sales
volume/market research 8 hrs Sun 11/17/19 Sun 11/17/19 1
Auto
Schedule
d
Study of competitive
market 8 hrs Mon 11/18/19 Mon 11/18/19 2,1
Auto
Schedule
d
Design some items and
facilities 8 hrs Tue 11/19/19 Tue 11/19/19 3
Auto
Schedule
d
launch of new product 8 hrs Wed 11/20/19 Wed 11/20/19 4
To manage the project Gantt chart is used which describes the starting, ending and duration of
different activities of the project. This project management tool helps to analyse the dependency
between various activities so that actual progress of the chart can be followed and controlled.
Quality management:

With the help of quality management Burberry can assure that all phases of project
follows desired level of quality. Burberry uses special benchmarks control and monitoring so that
quality inspection is performed effectively and required results can be obtained. The organisation
performs quality management in various phases. For example in the first phase the quality of all
raw material is tested so that material used in the production process is safe and of good quality
(Joslin and Müller, 2015). The pre quality testing also helps to minimise the resource wastage
through operational deficiencies. In addition to this the production process is also monitored and
tested to check that all procedures are followed correctly. To improve this quality check products
are also checked randomly in semi finished stage as well. In the entire quality check procedure
safety standards are also checked so that products are safe for their clients and meet all health
standards as well.
Cost control:
The effectiveness of the project depends upon quality, timely completion as well as
operational efficiency. To achieve the cost optimisation the cost budget are developed for each
and every phase so that plan execution follows the budget consideration (Lock, 2017). Along
with the estimated cost of each project phase organisation will also have a certain amount of
capital for the emergency risk which may occur during project. The capital required for the
project is fulfilled by the existing assets available within organisation. However the raw material
may need some additional amount.
Risk management:
The proposed project of launching new shoes also involves various risks. The foremost
risk is the unavailability of raw material and project completion on time. If products are not
developed on time then it may cause delay in the product launch. Such types of delay are very
harmful for the growth and brand value of the organisation (Hornstein, 2015). Thus Burberry
must assure that there are no issues regarding inventory and adequate supply demand ratio must
be managed. The technical errors in the machinery can also cause the barrier in project
completion. To address with such risks there must be highly efficient technical team so that
technical faults can be addressed. The faulty designs can increase the resource and time waste

thus in the designing phase of the product additional care must be maintained. Thus designing
faults are also one of the potential risks for the organisation in its project.
Risk control:
One of the most effective ways to avoid and manage risks is to promote effective
communication and work place culture (Mullaly and Thomas, 2016). Burberry project manager
must have regular interaction with the team members and project stakeholders so that risks
associated with the improper decision making can be eliminated. The accurate decision making
also helps to avoid chances of budget over running. The insurance agreements can be used by the
organisation to overcome the transaction and financial risks. The use of quality approaches such
as just in time can be used to avoid delay in the shipping and other inventory operations.
Project team:
To complete the project activities each individual in the team is described and given with
specific roles and responsibility. It is the responsibility of the project manager of Burberry to
build effective teams which is capable to accomplish project tasks. During entire project the most
significant aspect which must be managed by project manager is to resolve conflicts as well to
meet project deadlines (Todorović and et.al., 2015). The individual team members must be able
to work in cooperation with each other so that desired team outputs can be delivered. The use of
efficient knowledge sources and innovative strategies will help project teams to complete the
task.
C. Situational analysis
Burberry has been providing its services from several years and is leading brand in the
fashion industry. The organisation provides a wide range of product line and thus in its summer
shoe project it can face tough competition from the companies such as Nike which are highly
expertise and experienced in shoes. However the brand value of Burberry can help to survive the
competition (Papke-Shieldsand Boyer-Wright, 2017). There are various factors such as low
pricing or the product innovation which can be used by the organisation to make its project a
high success. The proposed project of the organisation is innovative and is designed for the
health conscious people who desire to mix fashion, comfort and health. Thus from the innovative
purpose the product can be considered as an excellent attempt for the organisation. In the era of

globalisation companies cannot achieve success without exploring wide platforms. To achieve
this launching event chosen by the company seems to be highly influential. If organisation get
successful in creating impression in the event then it will become very convenient to attract the
customers for product (Lientz and Rea, 2016). The use of technology to promote the project is
also effective measures for the organisation to encourage the employees as well as target
audience.
From the present trends of marketing and business it has been also observed that service
providers are not only improving the quality of their products but they are also using various
project management approaches. There is wide range of choices available for the organisation to
make their project more advanced and successful (Svejvig and Andersen, 2015). For instance the
organisations are using quality management tools so that customers can be provided with the
excellent quality and complains related to product quality does not affect the organisation. With
the global exposure to the services negligence in the product quality affects both regional and
global sales. Thus in this globalised era brand value management and promotion is very
important part of the successful management. Similarly the use of time management tools is
necessary to follow the time frame. At present there are no issues regarding delay of the services.
Thus for the long term success as well Burberry must regulate that all services are
delivered on time. In the current situation most of the leading service providers are using online
platform to deliver the services quickly as well to wide geographical area. In order to sustain the
growth the organisations are required to respond to digital technology changes very quickly (de
Carvalho, Patah and de Souza Bido, 2015. Along with the time management tools organisations
are also using suitable tools so that organisational waste can be reduced and operational cost can
be optimized. This is also one of the most common methods used by the industry to enhance the
profitability. In order to improve the decision making within organisation Burberry is also using
various communication and feedback mechanism within its work culture. These measures help to
manage and promote the diversity and effective decision making so that project risks can be
identified and resolved. In terms of market analysis the organisation also experience great
competition from its rivals (Ramazani and Jergeas, 2015). In order to survive from the
competitors it is mandatory for the organisation to sustain product quality and brand value. The

product launch event will give a fair chance to organisation so that it can accomplish project
objectives.
D. Findings and recommendations
It has been analysed from for the market audit and project plan that product development
and launch process must be executed after proper research. The resource availability is one of the
vital parts of the project management. Along with the human and financial resources
organisation must also emphasis on knowledge and team management. The project is executed
only when individuals work in effective teams. Thus it is recommended to organisations that
project success also depends upon the team building and management to a large extent. The
conflicts and lack of coordination among team members can cause poor decision making. It has
been also found from the analysis that the project management tools such as Gantt chart, just in
time approaches are also useful in managing project goals (Andersen, 2016). It is recommended
that organisation must also consider the risk factors which are involved in the project. It has been
often observed that organisations conduct only competitive analysis and a very limited attention
are paid to the internal risk factors.
However to minimise the risk and to make the project cost effective internal risks such as
technical faults, supplier disputes, inventory delay, designing issues must also be managed by the
service providers. It has been also evaluated that to minimise the project risks the project
specifications must be developed as per the needs of targeted audience. Since the organisation is
planning to launch its product at world famous fashion event it is necessary that product must
meet the specifications and criteria which makes it suitable for the event. The aim of the
organisation is to create a wide and new market segment all over the world in which it can
deliver its new product. Thus in the designing of the shoes the organisation must also consider
the diversity of its targeted audience. In addition to this to enhance the impact and outcomes of
the project marketing strategy must also be improved in a way such that it appeals to the majority
of targeted audience. The use of project management tools and approaches must be incorporated
in the planning and execution phase of the project so that performance can be improved
(Sánchez, 2015).
It has been also observed that when time management project tools are not employed
within project plan then possibilities of delay is increased. When organisation fails to achieve the

time frame then it has adverse impact on product quality, budget and brand value of the
organisation. On many occasion when organisations are not able to comply with their time frame
then either they are pressurise to reach goals in a hurry or budget is increased so that extended
time period can be used to complete the project . In both the circumstances the project quality is
degraded and has adverse impact upon performance of the organisation. The launch event will
have presence of leading organisations from different corners of the world. Thus failure to meet
the deadlines is not acceptable in terms of the brand value of organisation.
E. Performance review
The team work and coordination has helped to manage and complete the project
successfully. The first hurdle for completion of the project was to identify the needs of target
audience. Since summer shoes are also provided by many other fashion houses but in order to
distinguish the products from competitors Burberry is required to have unique features to its
product (Fleming and Koppelman, 2016). The project can be seen as highly significant for the
growth and success of organisation. The event in which product will be launched is centre of
attraction for the entire world. Thus it will provide a huge opportunity to the organisation to
enhance its brand equity all over the world. The good quality and uniqueness of the shoes will
create huge brand awareness among the customers all over the world. The successful launch of
the event increase the popularity of the organisation and thus it will also have positive impact on
the overall sales of the organisation. The project will also open up new growth opportunities for
the Burberry so that it can enter into new market. Since London Fashion week is very famous
and considered as the most successful fashion event the product launch in that event also makes
it easier for the organisation to target new market options (Binder, 2016). Thus from the future
growth sustainability the project is very useful and beneficial for the organisation.
My performance in the event made it important form perspective of my professional
development. Through the project I got a chance to manage and understand an international
event. It helped to learn the various aspects which are required to launch a product or manage
business globally. Since the event is not specific to any culture or local trends instead it is global
fashion event I also got the opportunity to work with individuals from different perspectives and
culture. Thus the project helped me to gain knowledge and understanding of the team work,
cooperation as well as conflict management. The most important skill which I learned through

the project is time management. Initially I was nervous that how such huge event can be
completed on time but then I learned that with team work and innovative work strategies tasks
can be managed on time. To increase my participation and involvement in the project I also
emphasis on in-depth market research so that I can enhance my role in better decision making
and minimising project risks.
CONCLUSION
It can be concluded from the study that well executed project plan will help organisation
to achieve the project goals with maximum efficiency. The project plan must also consider the
resource availability and risk factor into account so that success probability of the project can be
increased. It has been also analysed from the above study that analysis of various internal and
external factors of the business environment makes it more effective for the organisation to
execute the project plan. From the performance review it can also be concluded that in order to
make the launch event successful along with the quality improvement strategies team work and
individual performance must also be improved.

REFERECES
Books and Journals
Andersen, E.S., 2016. Do project managers have different perspectives on project
management?. International Journal of Project Management, 34(1), pp.58-65.
Binder, J., 2016. Global project management: communication, collaboration and management
across borders. Routledge.
de Carvalho, M.M., Patah, L.A. and de Souza Bido, D., 2015. Project management and its effects
on project success: Cross-country and cross-industry comparisons. International Journal
of Project Management, 33(7), pp.1509-1522.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Hornstein, H.A., 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management, 33(2),
pp.291-298.
Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and
project success in different project governance contexts. International Journal of Project
Management, 33(6), pp.1377-1392.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Lientz, B. and Rea, K., 2016. Breakthrough technology project management. Routledge.
Lock, D., 2017. The essentials of project management. Routledge.
Meredith, J.R., Mantel Jr, S.J. and Shafer, S.M., 2017. Project management: a managerial
approach. John Wiley & Sons.
Mullaly, M. and Thomas, J., 2016. The Value of Project Management: Rethinking Project
Management Maturity and Fit. In Gower Handbook of Project Management (pp. 79-
100). Routledge.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to
project management. International Journal of Project Management, 35(2), pp.169-179.
Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International
Journal of Project Management, 33(1), pp.41-52.

Sánchez, M.A., 2015. Integrating sustainability issues into project management. Journal of
Cleaner Production, 96, pp.319-330.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management, 33(2), pp.278-290.
Todorović, M.L., and et.al., 2015. Project success analysis framework: A knowledge-based
approach in project management. International Journal of Project Management, 33(4),
pp.772-783.