Managing a Successful Business Project - Marks and Spencer Assignment
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Added on 2021-02-20
Managing a Successful Business Project - Marks and Spencer Assignment
Added on 2021-02-20
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Managing a successfulbusiness project
INTRODUCTIONEconomic process is referred as process where there is consolidation and fundamentalinteraction among institution, group and governance worldwide (Brady and Davies, 2014). Thishas grown because of advance in connection and transportation system technology. Theemergence in worldwide fundamental interaction helps in growing at world ideas, commerce andcivilisation. It also concern on services, products, root of application, capital and information. Ithelps in creating variouspossibility for enterprise to gain their market share and profits atmarketplace. The organisation chosen for given assignment is Marks and Spencer that wasdeveloped at United Kingdom in 1884. This is multinational British retail business dealing inclothing, home products and others. As per scenario given in report, it has created and markettheir new summer shoe products and presenting at London fashion week that will be taken placeon 16th to 20th July September, 2019 where different firms will participate and present products.This research work covers aims, objectives, project management plan and methodology. Thetime structure has prepared for completion of project on given time period. Questionnaire hasframed in order to collect data and information along with advice are given for improvement. TASK 1P1Background of ProjectMarks and Spencer is multinational general and groceries retailer that was established in1884 at United Kingdom (Cheung, Chan and Kajewski, 2012). This was framed by ThomasSpencer and Michael Marks. It is serving their products in different parts of world. There aredifferent products which are served by respective organisation such as home, clothing and foodproducts. It has 1463 shops in different locations. More than 80787 employees are working forproviding goods and services to users. Marks and Spencer is focusing on introducing new shoeproducts in London Fashion Week. The main feature added in product is that it is light weight forusers. Here, manager of Marks and Spencer has hire project manager in order to understandglobalisation and their impact on business. This summer week will be held in 16th to 20thSeptember, 2019. For that proper aim and objectives should be made for achieving results. Research Aim1
“ To find the significant of new product development for an organisation in order toimprove its growth opportunities”. A study on Marks and Spencer.Research ObjectivesTo develop basic understanding about the process of new product development.To determine significance of new product development for growth and success of Marksand Spencer.To identify ways through which Marks and Spencer can improve its growth opportunityin marketplace.Research QuestionsWhat are the basic process of new product development?What are the significance of new product development for growth and success of Marksand Spencer?What are the ways through which Marks and Spencer can improve its growth opportunityin marketplace?P2 Project Management Plan (PMP) is defined as writing documents which is utilised forexplaining each and every phase of task (Doherty, Ashurst and Peppard, 2012). This involvesdocumentation that leads in formulation of base line for accomplishment of fixed goal and endresults. The plan of project is prepared by project manager with help of team efforts and keystakeholders. This is authorised and structurerepresentationthat defines about project executing,controlled and monitored. It is the elaborated or compact of any plan. It comprises ofdifferentelement that has affected project plan such as quality, risk, cost, time and others. They aredescribed below:CostThis is significant components of undertakingidea through that all activities and work arecarried out by manager (Dutta and Bose, 2015). This is the amount that is required to conductresearch in proper manner. Cost plays effective role in functioning of project plan. The budget isprepared for conducting research and carrying out work. Both researcher and organisation has toset cost for completion of project work. From researcher perspective, cost required is 100 poundswhereas respective organisation needs 180 pounds for completion of project work.Time2
It is defined as time period for completion of project and achievement of goal andobjectives (Goksoy, Ozsoy and Vayvay, 2012). In order to complete investigation on time,research work should be begin in time for completing them in expected time period. Theresearcher investigating such project requires 5 to 6 weeks for accomplishment of results.Similarly, organisation takes 7 weeks for accomplishment of goal and objectives of assignedproject work. This leads them to achieve set outcomes of assigned task. QualityIt is defined as standards which is set for performing research work. This is importantcomponent that is needed to be decided before starting investigation. The primary and secondarydata are utilized in order to collect information and message for providing statistical information.The data and information are collected by both researcher and organisation to complete assignedproject work. Here, researcher has to collect data from authentic sources so that accurateoutcomes is achieved by maintaining quality of work. Similarly, organisation can maintainquality of work by setting through benchmark and total quality management approach whileperforming work. RiskIt is refereed as factors that creates negative impact of investigation. While conductingproject work, various risk are incurred and which has to be identified in advance so that properwork is done. By knowing of risk, proper strategies and plans are made to overcome from them.The investigator face various risk such as lack of time, human resources and funds. In order toperform research, researcher formulate strategies and accomplish work on time period. The riskcan be in terms of quality, design and others which may or may not be liked by consumers.ScopeIt is regarded as essential components of project plan (Hacklin, Klang and Baschera,2013). The scope of adopting primary and secondary research technique for respective report isthat, through this researcher able to collect authenticate and appropriate data which leads togaining proper outcome of research. Similarly for the perspective of organization this will helpthem in adopting desire change related to new product development in order to improve itsgrowth opportunities.Communication3
It is important for research to communicate with team members and groups who helps inperforming investigation. With assist of communication, accumulation and message are collectedin effectual and businesslike manner. This helps in encouraging team for flowing of researchprocess. For communication, researcher has used different methods of communication such asemail, online mode and others so that project information is abstracted for collection of data andinformation about market for launching of products successfully. Similarly, from project point ofview, there are different methods which are used for communication like group meeting, emailsand others. The best method is conducting meeting through online and offline mode and provideguidelines for accomplishment of project work. ResourcesThe different types of resources that are needed by researcher like funding, manpower,proper books and journals for collection of data and message in an effectual and promptway sothat end and objectives is attained. Similarly, in context of project perspective, differentresources are required for conducting research work such as money, skilled employees, adequatetime and others so that final objectives can be attained in effectual and prompt mode. P3 Gantt ChartThis chart was designed by Henry Gantt in 1917 that is graphical representation ofproject schedule that shows various activities and time for completion (Hillson, 2017). It presentbar charts that are used for planning of project and defining of tasks for completing it. This helpsin managing, monitoring, scheduling resources and task which shows timeline of project. Thereare horizontal and vertical axis where tasks to be performed are shown at vertical and duration ofeach and every activity are shown at horizontal axis. The main purpose of this chart is trackingschedules of projects and providing illustration for it. This is prepared on basis of project wheretime and activities are categorised as per their importance so that objectives can be achieved.This assist in proper management of each and every work which is shown through vertical andhorizontal axis.4
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