Project Management Strategies and Tools

This assignment delves into various stages of product life cycle for estimating a product's existence in the market with effective manners. It also covers managing projects for value creation throughout the system lifecycle, including team structures and successful project management techniques. The assignment references several books and journals, as well as online resources, to provide a comprehensive understanding of project management strategies and tools.

Operation and Project
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Review and critique of operations management principles within and organisational
context.........................................................................................................................................1
TASK 2 ...........................................................................................................................................5
P2 Continuous improvement plan based on review and critique of operations management
principles within an organisation................................................................................................5
TASK 3............................................................................................................................................6
P3 Apply PLC to a given project for producing necessary supporting documentation for
completion of project..................................................................................................................6
..........................................................................................................................................................8
TASK 4..........................................................................................................................................11
P4 Review on effectiveness of PLC in application to the chosen project by applying
appropriate theories, concepts and models. .............................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Operation management is the practice in organisation which includes in the conversion of
raw material and labour into goods and services or here, maximising the productivity and
profitability. The main function or activity of operation management is to balancing revenue and
cost for achieving high profits in a good manner. On the other hand, project management is the
process of managing all the activities of project. The main purpose of this may range from new
product development to a service launch. The chosen organisation is XYZ company, which is an
American and European brand company. It is involves in the process of manufacturing,
marketing and selling of home appliances. The main products of XYZ company deals with
Fridges and Freezers, electric cars, gas and electric cookers and washing machines. In present
time, company is planning to enter into TV sector, so that they can maximise their business. The
report describes on significance of project management and operations with its principles, results
of their application. Along with this, importance of continuous improvement plan in business by
find out their serious concerns and their proper solution is also been discussed in the report
(Artto, Ahola and Vartiainen, 2016).
TASK 1
P1 Review and critique of operations management principles within and organisational context.
Operation management plays an vital role in operating business in perfect manner. There
are various activities includes in operation management like organising, controlling, planning
and resource and labour controlling which leads to offer good services and products to customer.
There are some principles which are used in companies to facilitate smooth functioning of the
organization. There are following type of principles that are applicable in Hotpoint organisation
for functioning effectively and these help in operating business operations in a effective manner.
Principles of Reality: The principle of reality is the ability of the mind to assess the
reality of external world and act accordingly. As per this principle, it is important for
organisations to focus on the issues of operation management and not on the techniques which is
used to solve it. It is essential for managers of Hotpoint to identifies the customer need, wishes
and demand before launching a new or different product in market. Hotpoint is an electric
company, it is presently dealing with production of cooking products, air conditioners, freezers,
refrigerators and dishwashers.
1

Principle of Organisation: It is the combination of so many objectives which includes in
unity, specialization, coordination, authority, delegation, responsibilities, unity of command,
span of control, balance, communication, personal ability, flexibility and principle of simplicity.
These are very important objectives of organisation. An organisation should be present their
operational activities in a certain order so that it can easily achieve the goals and objectives in a
perfect time frame. A good relationship among different departments of Hotpoint is necessary for
the efficiency of an organisation. There are several activities include in achieving a goal and
when these are performed in an organised way it takes very less time to complete the goals.
Accountability: Accountability is the very known term which is related with lot of
responsibilities from the oversight perspective. In this employees are also responsible for the
completing their task in a successful manner and explained all the issues. According to this
principle, Hotpoint needs to have managers who set an actual rules and regulations for their
employees and staff members. In this managers have to ensure that their superior are successful
in achieving targeted goals and objectives within the given period of time. Managers are
responsible for employee motivation and engagement so that they become beneficial for an
organization.
Change: It is important for any organisation to provide new change in product to make it
more easy to use. Hotpoint is involved in bringing innovation power and new ideas in their
products, because of this they are not having a single technique. Managers of Hotpoint keeps on
changing plans and strategies to execute new innovations in product. It helps in the company to
stay in market for long period (Fleming and Koppelman, 2016).
Managed passion: Passion is very important term in the form of managing team or staff
members in a well manner. In this employees are involved in the all activities like some which is
given by the managers and activities also. Employer engagement is very important for improving
their working performance with the lot of programmes or activities in the working place. Its
totally depend on the employees if they are satisfied with the company norms and policies then it
will easy for company to achieve specified goals and objectives in a good way. Managers of
Hotpoint should take care about passion of their superiors and helps them in enhancing their
productivity and creativity for generating new products of an organization. It leads to get
profitable results for an organisation and increasing profitability.
Lean production/ manufacturing:
2

It is a methodology which is used for decreasing the waste and increasing productivity in the
company. Managers of Hotpoint makes innovative or various ideas and execute them on
different products to make an organisation profitable. Through using this process waste is
reduced at a very high level. As waste reduction is done using by this lean manufacturing so it
helps the company in educing overall production cost. There are some aspects of lean production
that is given below:
Value: It is a very necessary term which includes in attitude, quality or various methods
that is helpful for the company in a positive way. Products or goods provide by the company are
prepared on the behalf of consumer's need and requirement. Any organisation can make a perfect
value of its products in front of customers by providing them effective products with low price
also timely manufacturing the product and delivering the product at right time. Managers of
Hotpoint do a good research before launching a new or innovative product in the market.
Value stream: It is the series of activities making a values of the product or anything. It
is important for customers where they can get good product in a effective way. Value focuses on
the particular price or cost of the specific product so that it is the easiest way to understand about
the cost of product. As per this factor, managers of Hotpoint measures consumer satisfaction
after launching product in marketplace. The managers should not only focuses in launching the
product but also concerning on calculating its performance after delivering the product to the
consumers.
Flow: As per this principle, company is responsible for examining all level of wastage to
overcome uncertainties in the future. Managers of Hotpoint keep high efforts in minimising work
burden and offer good outcomes timely. They also follow breakdown structure at work area and
it enhance level of production in a effective manner..
Establish Pull: In this Hotpoint company, the managers evaluates inventory factor for
creating more effective and efficient outcomes in good budgets. The operational head formulates
the needs of raw material and tries to give effective products. In this managers try to minimise
wastage level and offer better output within the given fund.
Pursue perfection: It is a type of quality that is used for improving the quality of product
in a good way, so that it tries to do remove wastage from material and improve the quality with
effective essentials. It is not easy for all the companies to transfer their products in right time.
According to this managers of Hotpoint execute new or different techniques in their organisation
3

to make customers happy or satisfied with company's product. Needs and requirement changes
every time due to changing environment. Managers analyse researches frequently in order to
know about requirements or demand of the customers and then try make changes in product
according to the customers. It maximise sales of the Hotpoint as well as making more profit in a
good way (Gilbert and et. al., 2015).
Six Sigma:
Six sigma is a concept that established in 1980 by Bill Smith which is a collection or
bundle of techniques and tools and helps in improving operations and their process. There are
two types of methodologies included in six sigma and they are DMADV and DMAIC.
DMAIC is used for improvisation in products of the company. This process is used when
a present product of the company can be improved for meeting consumer satisfaction. It explain
five factors like measure, analyse, improve and control. At the other hand DMADV is
methodology which is used to introduce a process or product which is not currently present in the
organization. It also determined of five phases such as define, measure, analyse, design and
validate. Hotpoint is going to launch a new product i.e. a Television of 58 inches therefore
DMADV is the best six sigma methodology for launching T.V. product in marketplace in a
effective way.
Define: It is a process or activity in which customer requirements identified and
calculated. The managers of Hotpoint implement various strategies before launching new
products or business venture in market. In present case study where it is introducing a new TV
in the marketplace, it undergoes research for knowing the customer's need and wants in a perfect
manner.
Measure: It is a process in which Hotpoint managers focuses on launch and manufacture
process of products and services in the market. The final evaluation includes in the number of
buyers in a specific locality. After knowing this, managers forms various measures to give
excellent quality products to the consumers.
Analyse: This process focuses on evaluation of problems or issues which is faced by the
company while operating. The managers have to implement attractive strategies to against the
issues and problems. If the company wants to maximise its market share it is necessary to
generate very good designs or shape in a effective way.
4

Design: Hotpoint managers make effective or useful plans and strategies for introducing
goods and services according to the customer demand. This increasing sales of an organization in
a perfect manner. Further more, several ideas by which an organisation can maximise it's market
segmentation that are developed for competitive advantage in a dynamic business concern.
Verify: According to this last process managers of Hotpoint give surety that design of
their product or goods created by the customer needs and want in a very good way. It is
necessary for maximising profits of the company by giving products to customers according to
their demand and requirements (Glukhov, Ilin and Levina, 2015).
TASK 2
P2 Continuous improvement plan based on review and critique of operations management
principles within an organisation.
Continuous improvement plan
Companies used to provide quality products to people and for that they make continuous
changes in departmental units. For doing so research is conducted to analyse the demands of
customers. The managers and leaders of Hotpoint provides quality products to people by
preparing an effective improvement plan which is discussed below-
SOURCES PRINCIPLES OUTCOMES
Cost Six sigma
It is an form of amount that has
to be paid in order to gain
something. It is a monetary
valuation which includes in
material, resources, time and
utility consumed and
opportunities. The leaders of
XYZ company used six sigma
in their functioning and
operations to enhance its
efficiency. It helped the
company in accomplishing
business activities in given
5

budget.
Quality Lean manufacturing
Managers offer new
technologies for making
changes in their products.
Customers become more
happy and satisfied when
products are new and
innovative. Lean
manufacturing is used in the
company for effective
outcomes.
Safety Fundamentals
XYZ company has proper
inventory management and it
helps in solving future
problems.
Delivery Organisation
The management of XYZ
company has better plans and
strategies to perform business
operations and give defect free
items to people.
XYZ is an organisation which deals with electronic products and devices so it requires
continuous change and innovation to retain customers. An improvement plan evaluates the needs
and demands of customers. Xyz company uses lean production and six sigma in its business
(Harrison and Lock, 2017).
6

TASK 3
P3 Apply PLC to a given project for producing necessary supporting documentation for
completion of project.
A product life cycle is used by leaders of Xyz to determine the success of their product at
marketplace.
Initiation stage: In the initial stage managers analyse the needs and demands of
customers and then make product according to that. In context with XYZ it is launching a new
58 inches TV in the marketplace so they have to de research and know actual needs of customers
then they should introduce this product in the market. This will take around 1-2 months (Kerzner
and Kerzner, 2017).
Planning stage: Planning stage involves making of plans and strategies which are to be
implemented in organisation to make better results. Skilled workers are assigned to perform
activities towards achieving aims and objectives of the company. While introducing new 58
inches TV, managers have to manage the different roles and jobs to be performed. This stage will
take around 2 months (Kundu and et. al., 2015).
Execution stage: The managers formulate plans to attain organisational goals and
objectives. The managers are responsible for making new changes and innovations in the product
and for that they require good strategy. This will take around 3 months.
Closure stage: This is the last stage of project life cycle. This includes documents related
to the new TV which contains information of present as well as future scenario. It takes around
20 days.
7

Gantt chart:
Gantt chart is a graphical representation that estimates the schedule of the company.
XYZ used Gantt chart for determining the time taken in performing different activities in
completion of this project. Gantt chart gives the start and end time of the task and gives an idea
to manager of how much time will be required in achieving the goals (Lam and Lai, K.2015).
8

Business case
Executive summary:
The leading electronic company of UK XYZ is thinking of entering into a new business
i.e. Television business and for this it has to know the needs and demands of the people for
giving better results. The managers should achieve their goals and objectives in given time
frame. The new business of entering into TV business is an opportunity for the company to
maximise their profits. The managers and leaders of the company will have to undergo research
before launching the product. XYZ managers are about to make strategy to implement this
research.
Goal:
XYZ objective is to increase satisfaction among people with the products and services.
New changes and innovations are made in products to achieve goals and objectives. Efficiency
and productivity is enhanced by making an effective strategy and planning (Nicholas and Steyn,
2017).
Solution:
The solution for this is XYZundergoes a market research for knowing the actual needs
and demand of the customers. After doing the research and evaluation it is concluded that they
can launch the new product in market while following new changes and technology and
innovative techniques.
9

Cost:
This is an element which identifies the cost related aspects involved in completion of the
project. There are a number of costs which are included in the project and they include
resource, human capital and computer costs. The estimated cost for this project given by XYZ is
around 35,000 pounds (Perry and et. al., 2018).
Benefits:
When an organisation introduces a new product in market it is essential to create image
and reputation of the brand. This is done by providing quality products. When the TV launched
by company will get profits in market it is good for developing good image.
Execution Time:
Execution time is the implementation of the project and this includes introducing the
new TV in the marketplace. The companies evaluate the performance of the company by
researching the product's liking after it is manufactured in the marketplace.
Project Plan:
It is termed as the plan that is implemented in completion of different projects and tasks
of the company. There are various factors that are used in completion of the project that are
discussed below-
Cost: It is the main factor which is considered before starting any project. In this project
the overall cost of project estimated in completing this project is around 30000 pounds.
Scope: By using this component XYZ company is able to increase customer satisfaction
and trust by providing good products and services.
Risk: The company ensures the implementation of strategies and plans in business for
effective outcomes and this will help in reduction of risk in the project.
Resource: This includes that people must be provided delivery of projects and services in
given time. XYZ company uses innovative technology in delivery of their products (Rosemann
and vom Brocke, 2015).
Work break down structure:
A work breakdown structure (WBS) is a key project deliverable that manages the team's
work into manageable sections. This is a method in which work is divided into small parts and
10

project work is divided in these sections. XYZ company is following work break down structure
for dividing their work and completing the work in time.
TASK 4
P4 Review on effectiveness of PLC in application to the chosen project by applying appropriate
theories, concepts and models.
Effectiveness of PLC while applying it on a specific product basically it depends upon
the two various things and these are reliability and suitability at the same time, if it is talked
about XYZ company, it is going to generate a new product i.e. 58 inched T.V. Here, waterfall
model is going to be discussed in order to understand the overall structured Product Life Cycle
(Schwalbe, 2015). There are some theories and concepts which are following as under:
Initialisation of the stage:
XYZ company always uses the autocratic leadership style while doing biggest projects.
Leaders do not take advice or permission of subordinates in decision making process. For small
projects this leadership is not used or not useful and as per the number of members in team are
less they initiate in process of decision making.
Planning phase:
XYZ company is following situational leadership style of leadership in their functioning
or activities, where Leaders take decisions on the behalf of conditions in a large and small
projects of business. Planning of small projects is not very much strong and it keeps changing
situations according to the company so that it is helpful in a good manner.
Execution phase:
According to this execution stage Hotpoint uses Servant leadership style. Where, Leaders
focuses on development of team or staff members. In large projects leaders invest lot of money
11

in development of people or individuals for the purpose of effectiveness in an organisation.
Wherein, small projects do not have a high cost of budget so they do not wish to invest cost in
order to make improvement and development of individuals (Takey and Carvalho, 2015).
Closure phase:
According to this phase XYZ company uses team leadership style. In this, leaders focus
and emphasises on future opportunities which are very good or achievable for employees in a
effective way. It is helpful in growth and development of team members.
The structure of product life cycle also follows waterfall model for applying different theories
and concept of an organization that is given below:
 Requirements: According to this particular and starting level, proper analysation is
basically takes place of a new idea and plan. In the present context of XYZ company, is
developing a large television (58 inches) for their customer satisfaction. As, this stage
mainly focuses on actual requirement or need of T.V. Whether the for home purpose,
stadium and large parks for the effectiveness of an organization (Todorović and et. al.,
2015).
 Product design: Second phase is focusing, where product is made by the proper design
to produce them in the form of TV that is 58 inches can takes place easily. Here, is a lot
of things such as innovation, customer requirements or demands and current trends will
be very helpful for XYZ company in achieving high level of goals and objectives, where
company can directly achieve a good attention in the market from their customers.
 Implementation: According to third stage where overall product design is going to be
implemented by manufacturing department of XYZ company so that its business can get
expand in a several marketplace.
 Testing: According to this overall implementation would be control mainly so that no
problems or issues can take place. By this section both real strength and suitability of the
sample product for new launching into the market can be identified.
 Deployment of system: According to this stage is identically enclosed with seniority
level reaching is the big target, which can be done by good control over the distribution
system of T.V.
12

 Maintenance: This is the last stage waterfall model that needs to calculate and control to
other product (58 inches television) to fall at the decline (Operations and Project
Management, 2019).
CONCLUSION
From the above representative report it has been analysed that operation management is
an very necessary factor in the form of effective working of the organisation. There are a various
principle of operation management such as six sigma, lean manufacturing, etc. along with this
work-breakdown structure has been also specified which are followed by every organisation
which leads in attractive functioning of the company. In addition to Hotpoint, there is a need of
implementation of continuous improvement plan for generating new and innovative strategies
changes in their product or services. Before introducing any new product in the market
organisation applies various stages of product life cycle for estimating the product's existence in
the market with the effective manner.
13

REFERENCES
Books & Journals
Artto, K., Ahola, T. and Vartiainen, V., 2016. From the front end of projects to the back end of
operations: Managing projects for value creation throughout the system
lifecycle. International Journal of Project Management. 34(2). pp.258-270.
Fleming, Q. W. and Koppelman, J. M., 2016, December. Earned value project management.
Project Management Institute.
Gilbert and et. al., 2015. Case management system and method for collaborative project teaming.
U.S. Patent 9,189,756.
Glukhov, V. V., Ilin, I. V. and Levina, A. I., 2015, August. Project management team structure
for internet providing companies. In Conference on Smart Spaces (pp. 543-553).
Springer, Cham.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kundu, A., and et. al., 2015. A journey from normative to behavioral operations in supply chain
management: A review using Latent Semantic Analysis. Expert Systems with
Applications. 42(2). pp.796-809.
Lam, J. S. L. and Lai, K. H., 2015. Developing environmental sustainability by ANP-QFD
approach: the case of shipping operations. Journal of Cleaner Production. 105. pp.275-
284.
Nicholas, J. M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Perry and et. al., 2018, April. Successful Management of Major Marine Operations for the
Hebron Project. In Offshore Technology Conference. Offshore Technology Conference.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer,
Berlin, Heidelberg.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Takey, S. M. and de Carvalho, M. M., 2015. Competency mapping in project management: An
action research study in an engineering company. International Journal of Project
Management. 33(4). pp.784-796.
Todorović 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.
Online
Operations and Project Management. 2019. [Online]. Available
through:<https://www.beds.ac.uk/research-ref/bmri/centres/bisc/opm>.
14