Managing a Successful Business Project
Added on 2020-10-23
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Managing a SuccessfulBusiness Project
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1. Project aims and objectives for a chosen scenario...........................................................1P2. Project management plan that covers aspect of scope, time, cost, communication, risk andresources.................................................................................................................................2P3. Work breakdown structure and Gantt chart to provide time-frames and stages forcompletion .............................................................................................................................5TASK 2............................................................................................................................................7P4. Small scale research by applying quantitative and qualitative research method appropriatefor meeting project aims and objectives.................................................................................7TASK 3............................................................................................................................................9P5. Analyse research and data using appropriate tools and techniques.................................9TASK 3..........................................................................................................................................18P6. Recommendation of research and data analysis.............................................................18TASK 4..........................................................................................................................................19P7. Value of undertaking the research to meet stated objectives and own learning andperformance..........................................................................................................................19CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
INTRODUCTIONGlobalisation refers to the free movement of goods or services by businesses throughoutthe world. It is a process by which companies can expand their business by entering intodifferent countries in order to offer their services. This report is about Mark & Spencer whichoperates its business at international level by offering a wide range of product or services such asclothing, home furnishing, gift items and luxury food. It is best known for its offerings in highquality product and now it is planning to launch a brand new summer shoes in London Fashionweek which take place from 16-20 February 2019 (Lawrence and Almas, 2018).This reportcontains an explanation about project management plan along with work breakdown structureand Gantt chart. It also contains information about qualitative as well as quantitative researchmethod along with several tools and techniques used for research.TASK 1P1. Project aims and objectives for a chosen scenarioGlobalisation refers to the process through which businesses that are operates at differentpart of world started trading at an international scale. It is a medium through which people,companies and government worldwide interact with people, companies and government allaround the globe. Globalisation is related with the integration of national as well as localeconomies which contribute toward interlinking cultural as well as social aspects. It generallyfocused toward the movement of knowledge, people and technologies across the internationalboundaries which also allows the free flow of political, cultural and environmental discourse.Mark and Spencer is a multinational British retailer which offer variety of products like clothing,home products and luxury food items. Company focuses toward offering quality products orservices through maintain their retail chain stores worldwide. Background of project:-Globalisation is defined as a process through which a business started operating itsbusiness across the national or international boundaries with an aim to expand business. Itsupports company in maximising their customer base by offering their services to people belongsto other culture or nation which further support in enhancing the profitability of company(Hoogvelt, 2018). This support organisations to expand their approach by reducing gap amongcountries or other geographical area. Mark & Spencer is an international retailer brand which1
offer variety of product to its customers throughout the world which includes clothing, homefurnishing, footwear, gifts and luxury food items. It maintains around 1463 stores across 57countries throughout the world through managing a range of franchise stores. For maintainingits position at international level, company put more emphases toward providing high qualityservices to its customers in order to maintain a loyal consumer base which further support themin promoting brand (Colen and Swinnen, 2016). As company believe that a happy customer ismost valuable asset for the company which further advertise its brand as well as quality servicesthrough word-of-mouth. This help in increasing customers bases as well as simplifying theactions taken by company to approach its potential customers. M&S is now planning tomanufacture and launch a brand new summer shoes by participating in London fashion weekwhich will held between 16-20 February 2019. This support company in competing with otherbrands which are participating in event. Apart from this it also help in enhancing its goodwill andproviding customers bases to make comparison regarding the quality services offered bycompany. Aim of project:Main aim of this research is “To produce and market a brand new summer shoes byparticipating in London fashion week which take place on 16-20 February 2019. A study onMark & Spencer.”Objectives:To produce and market new summer shoes to compete with rival brand.To examine the shoes design before launching it.To analyse the success of project implementation and provide recommendations to makechanges. P2. Project management plan that covers aspect of scope, time, cost, communication, risk andresources.Project management refers to the practice of planning, initiating, executing, managingand controlling the work performed by team in order to achieve specific goals or certain successcriteria within specific time period (Lingard and McGregor, 2014). It generally worked towardensuring that the project get accomplished successful as planned. Project management planconsists of set of activities that are required to be perform in order to achieve set objectives. Itwork toward efficiently guiding all the aspect of project from its inception to finish date with an2
ideal aim of delivering particular outcome on required budget or time. Project managementincludes scope, size, time, cost, quality etc. But apart from this project management is a step bystep process which is required to be followed by manager in order to achieve desired result.M&S is currently planning to enhance its brand image at international level by launching a newproduct i.e. summer shoes by taking participation in London fashion week 2019. So, in order toachieve success in this project, company is required to follow stages that are explained below:Project initiation:- It is the first and foremost stage of project management under whichthe idea behind the project is define at a broad level. Project initiation phase usually begins withthe a business case and then the feasibility of project is get determine (Brown, 2017). Under thisstep, team of M&S is required to explore and discuss about their project with team members.Apart from this they should try to analyse the feasibility of project in term of finance, technologyand resources. Initiation stage of the project include several steps such as development ofbusiness case and undertaking feasibility study over that case to determine its validity. Afteranalysis project charter get established and team is formulated, after all these phase get reviewedby the project manager to formulate an effective team and provide them direction to workfurther. Planning phase:- This stage is consider as a key to success of project management whichfocuses over formulating action plans which depict about the activities that are required toperform by management team in order to achieve desired objective. Under this stage Mark &Spencer is required to set goals related to their product launch using SMART objectives whichensures that goals are specific, measurable, attainable, realistic and time bound. This support inidentifying the cost, resources required, quality and cost of project. Project execution phase:- This stage is consider as the practical implication of planswhich are being formulated by the project manager in earlier stage. At this execution phase themain role of Mark & Spencer's project manager is to keep work on track, manage timelines,organise team members and ensures that the work must be performed as per the plan. Project monitoring and control phase:- This stage focuses toward measuring theperformance as well as progress of the project in order to ensure that everything happens in anplanned manner. In order to monitor the project effectively, project managers of Mark & Spencermust use key performance indicators for determining that whether the project is on track or not(Twining, 2017). This can be done over the findings that whether company is able to achieve the3
estimated profit or not. KPI's will support Mark & Spencer in determining the area that requireattention or modification in order to achieve their pre specified goals. Closing phase:- This is the last stage where project manager hold a meeting in order todetermine what went will and what went wrong in current project which is very helpful inunderstanding the mistakes so that the proper measures can be taken in future. Under this stageafter finishing the production of their summer shoes, Mark & Spencer is required to create achecklist of actions that doesn't get accomplished and try to work over it. This support inensuring that work has been done in an efficient manner which further support in accomplishingtheir project goal. Advantages of project management:Project management plays an essential role within the success of a project as it supports amanager to ensures that the actions performed by its team contribute toward the accomplishmentof planned objectives (Scrinzi, 2017). Following are the importance of using projectmanagement:It support in prioritising the resources that are required to perform tasks and ensure itsproper utilisation. Project management help in ensuring that the actions performed by the team membersare on the right track and support in accomplishing planned objectives.It assists in maintaining a consistent interaction between customers, suppliers andstaff members. Project management is very essential in controlling the tasks performed within theproject and aligning them toward the accomplishment of desired goals. Hence, project management is very essential as it support Mark & Spencer in deliveringthe expected outcomes effectively and in timely manner. Project management plan is defined as a formal document which is used to manage theproject execution. It is blue print of project which describe about the set of actions that arerequired to perform by team members in order to accomplish particular project along with thepeople who are liable to perform that action (Gangopadhyay, 2017). It contains the tasks whichare essential to define, prepare, integrate and coordinate the different sort of planned activities.During the development of project there are some important aspects that are required to beconsider and those are explained below:4
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