Operations and Project Management
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Literature Review
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This assignment delves into the critical aspects of project and operations management. It examines real-world case studies that demonstrate how organizations effectively manage projects throughout their lifecycle to achieve desired outcomes. Emphasis is placed on understanding strategies used to create value, foster collaboration, and navigate complex operational environments.
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Operations and Project
Management
Management
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Critical review regarding implementation of operations principle in organisation context3
TASK 2............................................................................................................................................8
P2 Continuity in improvement plan based on review and analysis........................................8
TASK 3............................................................................................................................................9
P3 Apply each stage of the PLC along with providing necessary supporting documentation for
the project...............................................................................................................................9
TASK 4..........................................................................................................................................14
P4 Review and critique the effectiveness of the PLC in application to the chosen project 14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Critical review regarding implementation of operations principle in organisation context3
TASK 2............................................................................................................................................8
P2 Continuity in improvement plan based on review and analysis........................................8
TASK 3............................................................................................................................................9
P3 Apply each stage of the PLC along with providing necessary supporting documentation for
the project...............................................................................................................................9
TASK 4..........................................................................................................................................14
P4 Review and critique the effectiveness of the PLC in application to the chosen project 14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION
Operation management is an branch of administration that gives its contribution in
continuous improvement in performance by offering best goods to their consumers. The main
purpose of operations management is to concern with converting materials and labour into goods
and services to enhance the profitability of an organization. On the other hand, project
management is the method of organizing all the activities of project. The main purpose of this
may range from new product development to a service launch (Operations and Project
Management. 2019). The chosen organisation is Hot point, which is an American and European
brand company. This is engaged in the process of manufacturing, marketing and selling of home
appliances. The main products of Hot-point are 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 expand their business. The present report emphasizes 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.
TASK 1
P1 Critical review regarding implementation of operations principle in organisation context
The implementation of operations management firstly emphasizes on the process of
manufacturing and operation, which drives information and enables to develop and plan business
strategy. Every organisation management team is assigned with a specific task. There are some
principles which are described below, which should follow by the organisation in order to
achieve positive outcomes :
Operation Management Principles
1. Principle of Reality In this principle, operation manager has the
tendency to focus on the tool rather than the
problem, because no problem as permanent
solution but might be possible that any tool or
Operation management is an branch of administration that gives its contribution in
continuous improvement in performance by offering best goods to their consumers. The main
purpose of operations management is to concern with converting materials and labour into goods
and services to enhance the profitability of an organization. On the other hand, project
management is the method of organizing all the activities of project. The main purpose of this
may range from new product development to a service launch (Operations and Project
Management. 2019). The chosen organisation is Hot point, which is an American and European
brand company. This is engaged in the process of manufacturing, marketing and selling of home
appliances. The main products of Hot-point are 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 expand their business. The present report emphasizes 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.
TASK 1
P1 Critical review regarding implementation of operations principle in organisation context
The implementation of operations management firstly emphasizes on the process of
manufacturing and operation, which drives information and enables to develop and plan business
strategy. Every organisation management team is assigned with a specific task. There are some
principles which are described below, which should follow by the organisation in order to
achieve positive outcomes :
Operation Management Principles
1. Principle of Reality In this principle, operation manager has the
tendency to focus on the tool rather than the
problem, because no problem as permanent
solution but might be possible that any tool or
technique can provide a better solution (Artto,
Ahola and Vartiainen, 2016).
2. Principle of Organisation In this principle, all departments of any
organisation like Hot-point are interconnected,
so that their work can be organise in effective
way in order to achieve targeted goals. In this,
it is necessary for an organisation to perform
their business activities in an appropriate
manner, so that they can easily attain their
business goals and objectives.
3. Principle of Fundamental Everybody in the industry should stick to the
common key on which all the production is
based, and this make sure for the company to
have a great chance of success.
4. Principle of Accountability In this principle, the superiors or manager of
Hot-point organisation set rules and regulations
for its subordinates along with their
responsibilities.
5. Principle of Success Here in this principle, success means market is
volatile (Fleming and Koppelman, 2016). In
this principle the thing which satisfy the
demand and need of customers, that thing will
be consider as the up coming product of the
market. So the success is always define with
the need of customers.
Six Sigma
Ahola and Vartiainen, 2016).
2. Principle of Organisation In this principle, all departments of any
organisation like Hot-point are interconnected,
so that their work can be organise in effective
way in order to achieve targeted goals. In this,
it is necessary for an organisation to perform
their business activities in an appropriate
manner, so that they can easily attain their
business goals and objectives.
3. Principle of Fundamental Everybody in the industry should stick to the
common key on which all the production is
based, and this make sure for the company to
have a great chance of success.
4. Principle of Accountability In this principle, the superiors or manager of
Hot-point organisation set rules and regulations
for its subordinates along with their
responsibilities.
5. Principle of Success Here in this principle, success means market is
volatile (Fleming and Koppelman, 2016). In
this principle the thing which satisfy the
demand and need of customers, that thing will
be consider as the up coming product of the
market. So the success is always define with
the need of customers.
Six Sigma
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Six sigma is the set of tools and techniques for the process of improvement. Six sigma is
used to eliminate the defect and to reduce the cost of the company. The tools of six sigma is
beneficial in solving the operations, management and quality issues. Here are the tools of six
sigma which are mentioned below :
Define
In this stage of six sigma, the needs and
demands of customer are detailed in effective
way. In addition to this, in this stage Hotpoint
define the process and problems of customers
and than produce the new product according to
their demands (Gilbert and et. al., 2015).
Measure
In this stage, Hotpoint measure the current
performance of their organisation. This stage is
helpful in evaluating condition prevailing in
used to eliminate the defect and to reduce the cost of the company. The tools of six sigma is
beneficial in solving the operations, management and quality issues. Here are the tools of six
sigma which are mentioned below :
Define
In this stage of six sigma, the needs and
demands of customer are detailed in effective
way. In addition to this, in this stage Hotpoint
define the process and problems of customers
and than produce the new product according to
their demands (Gilbert and et. al., 2015).
Measure
In this stage, Hotpoint measure the current
performance of their organisation. This stage is
helpful in evaluating condition prevailing in
production process and overall improvement
that is done from the actual state.
Analyse
This stage of six sigma analyse the process for
issues and root causes that creates inefficiency
in production process. In context with Hot
point, it find out solution of emerging demands
of customers.
Improve
This stage determine the problems and
implement the actions for improvement in
order to get desirable outcomes (Harrison and
Lock, 2017). In context with Hot point, this
provide solution of their forthcoming demand
of consumers so that their customers become
loyal towards their organisation.
Control
This stage maintain the improved process and
develop a deep monitoring plan that is
compulsory for monitoring the performance by
evaluating all systems and processes. Hot point
measures the outcomes of new launched
product, to see whether it results are positive or
not.
Lean Principle
Lean principle is an approach of management that cut down the waste and ensure the best
quality of product. This can be applied in all aspects of business, from designing to producing the
product. This principle helps Hotpoint to create new and innovative ideas to improve the quality
of their production process (Kerzner and Kerzner, 2017). As according to the current scenario,
Hotpoint company wants to expand its business in television sector for this, they are bringing
their new product which is large television of 58 inch. Therefore, there are some principles
that is done from the actual state.
Analyse
This stage of six sigma analyse the process for
issues and root causes that creates inefficiency
in production process. In context with Hot
point, it find out solution of emerging demands
of customers.
Improve
This stage determine the problems and
implement the actions for improvement in
order to get desirable outcomes (Harrison and
Lock, 2017). In context with Hot point, this
provide solution of their forthcoming demand
of consumers so that their customers become
loyal towards their organisation.
Control
This stage maintain the improved process and
develop a deep monitoring plan that is
compulsory for monitoring the performance by
evaluating all systems and processes. Hot point
measures the outcomes of new launched
product, to see whether it results are positive or
not.
Lean Principle
Lean principle is an approach of management that cut down the waste and ensure the best
quality of product. This can be applied in all aspects of business, from designing to producing the
product. This principle helps Hotpoint to create new and innovative ideas to improve the quality
of their production process (Kerzner and Kerzner, 2017). As according to the current scenario,
Hotpoint company wants to expand its business in television sector for this, they are bringing
their new product which is large television of 58 inch. Therefore, there are some principles
which will provide effective benefits in order to produce new product and launch the same in
attractive way.
Define value In this stage, this is to define that value of a
product is created by the producer but that
value is defined only by the customer. They are
the one who will pay money to buy a product,
so it is important for Hotpoint to understand the
value of the customer ion their product, as this
will help them to reduce their waste and
maintain their overall cost.
Map Value Stream This principle includes the flow of information
that is needed to produce a product without
wasting any resource. Map value system will
benefit in each and every stages of PLC to
achieve required targeted objectives (Kundu
and et. al., 2015). This principle helps Hotpoint
managers to monitor and evaluate all
procedure in relation to allocation of work to
staff, designing, proving suitable strategies and
manufacturing.
Create Flow In this overall physical process of fresh
manufacturing is done in effective manner.
This will benefit in decreasing negative issues
and obstacles that may arise in the process of
accomplishing operations and fulfil consumer
demand in appropriate manner.
Establish Pull This principle mainly follows the same exact
principle that is followed in just in time
approach. In this, all the services are provide to
customers according to their requirements and
attractive way.
Define value In this stage, this is to define that value of a
product is created by the producer but that
value is defined only by the customer. They are
the one who will pay money to buy a product,
so it is important for Hotpoint to understand the
value of the customer ion their product, as this
will help them to reduce their waste and
maintain their overall cost.
Map Value Stream This principle includes the flow of information
that is needed to produce a product without
wasting any resource. Map value system will
benefit in each and every stages of PLC to
achieve required targeted objectives (Kundu
and et. al., 2015). This principle helps Hotpoint
managers to monitor and evaluate all
procedure in relation to allocation of work to
staff, designing, proving suitable strategies and
manufacturing.
Create Flow In this overall physical process of fresh
manufacturing is done in effective manner.
This will benefit in decreasing negative issues
and obstacles that may arise in the process of
accomplishing operations and fulfil consumer
demand in appropriate manner.
Establish Pull This principle mainly follows the same exact
principle that is followed in just in time
approach. In this, all the services are provide to
customers according to their requirements and
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demands. This process helps in providing
satisfaction to consumers within effective
period of time (Lam and Lai, 2015).
Pursue Perfection As, it is hard to produce all commodities of a
company in same order. Therefore, operation
managers of Hotpoint can take necessary
adoption of innovative technology in their
workplace to produce qualitative and
sustainable products.
Findings- From the above information it can be find out that there are several issues facing by
the Hotpoint related to quality and on the basis of quality cost of the offering is not suitable for
customers. Along with the issue of quality and cost there is one another problem also i.e.,
delivery of products are not on time.
TASK
P2 Continuity in improvement plan based on review and analysis.
Improvement goal Baseline performance Where want to be Metric
Quality Quality of product is
too low which not
satisfying customers in
appropriate manner.
In this situation,
Hotpoint have to
improve their
performance by
implementing Kaizen
theory in their
working. Aim of
implementing this
theory is enhance
quality of the Hotpoint
offering and there is
requirement of 1-2
Focus on product
quality by keeping in
mind customer needs
and wants.
satisfaction to consumers within effective
period of time (Lam and Lai, 2015).
Pursue Perfection As, it is hard to produce all commodities of a
company in same order. Therefore, operation
managers of Hotpoint can take necessary
adoption of innovative technology in their
workplace to produce qualitative and
sustainable products.
Findings- From the above information it can be find out that there are several issues facing by
the Hotpoint related to quality and on the basis of quality cost of the offering is not suitable for
customers. Along with the issue of quality and cost there is one another problem also i.e.,
delivery of products are not on time.
TASK
P2 Continuity in improvement plan based on review and analysis.
Improvement goal Baseline performance Where want to be Metric
Quality Quality of product is
too low which not
satisfying customers in
appropriate manner.
In this situation,
Hotpoint have to
improve their
performance by
implementing Kaizen
theory in their
working. Aim of
implementing this
theory is enhance
quality of the Hotpoint
offering and there is
requirement of 1-2
Focus on product
quality by keeping in
mind customer needs
and wants.
month duration for it.
Cost Cost of product is high
as per the price of
products offering by
Hotpoint.
To improve the cost,
variance will be used
to decide the cost of
the TV along with
further improvements
in their existing
products (Nicholas and
Steyn, 2017). Hotpoint
should adopt six
sigma, as this
approach can enhance
their performance
level and also helps to
cut cost and get
desirable outcomes.
Along with this they
have to ensure that
material will utilise in
effective manner for
no waste so that cost
of product will reduce.
Company have to
analyse expenditure
and then decide cost of
product. Along with
this, try to minimise
wastage while doing
production.
Delivery There is delay in
delivery of product
which turn customers
satisfaction at low
level.
Hotpoint should apply
Six Sigma approach to
manage and control
the delivery and for
development of their
new launch product at
the greater and larger
stage. The stage of six
There is requirement
of development in
supply chain so that
product will deliver on
time. As well as they
will be able to satisfy
customers.
Cost Cost of product is high
as per the price of
products offering by
Hotpoint.
To improve the cost,
variance will be used
to decide the cost of
the TV along with
further improvements
in their existing
products (Nicholas and
Steyn, 2017). Hotpoint
should adopt six
sigma, as this
approach can enhance
their performance
level and also helps to
cut cost and get
desirable outcomes.
Along with this they
have to ensure that
material will utilise in
effective manner for
no waste so that cost
of product will reduce.
Company have to
analyse expenditure
and then decide cost of
product. Along with
this, try to minimise
wastage while doing
production.
Delivery There is delay in
delivery of product
which turn customers
satisfaction at low
level.
Hotpoint should apply
Six Sigma approach to
manage and control
the delivery and for
development of their
new launch product at
the greater and larger
stage. The stage of six
There is requirement
of development in
supply chain so that
product will deliver on
time. As well as they
will be able to satisfy
customers.
sigma involves define,
measure, analyse,
improvement and
control, which will
help Hotpoint to
transfer their product
effectively, from the
phase of manufacture
to delivery.
Effectiveness of continuous improvement plan : Hotpoint should take care about the
price and quality strategy of their new product television. The Six sigma approach aid Hotpoint
to make their launching product effective and efficient, this also helps to avoid damage and faults
from the TV products. This implementation of continuous improvement plan is done to known
the reviews of the customers, this will increase loyalty and faith among customers towards the
organisation. The following are activities through which improvement can be applied - Priority to employee's need – Hotpoint operation manager should consider the need and
demands of employees and also give priority to them to enhance the efficiency in the
organisation (Perry and et. al., 2018). To give priority to employees is necessary, as they
are only source of communication between customers and organisation.
Good relationship of Employee-employer – They are those who decides the working
environment of the organisation. For the implementation of any strategy, the relation
between these both should be good so that the work should be done with coordination
and should complete in an effective manner.
Kaizen Theory: This theory is considered to be an effective approach for improving the
productivity of goods at continuous basis to fulfil the demands of consumer in target market.
When talking about Hot-point, the managers could plan strategies in manufacturing of quality
raw material, after which the workforce could accordingly produced products. The managers
should take in considerations, that product have to be matched with quality standard set to retain
potential buyers for the firm.
measure, analyse,
improvement and
control, which will
help Hotpoint to
transfer their product
effectively, from the
phase of manufacture
to delivery.
Effectiveness of continuous improvement plan : Hotpoint should take care about the
price and quality strategy of their new product television. The Six sigma approach aid Hotpoint
to make their launching product effective and efficient, this also helps to avoid damage and faults
from the TV products. This implementation of continuous improvement plan is done to known
the reviews of the customers, this will increase loyalty and faith among customers towards the
organisation. The following are activities through which improvement can be applied - Priority to employee's need – Hotpoint operation manager should consider the need and
demands of employees and also give priority to them to enhance the efficiency in the
organisation (Perry and et. al., 2018). To give priority to employees is necessary, as they
are only source of communication between customers and organisation.
Good relationship of Employee-employer – They are those who decides the working
environment of the organisation. For the implementation of any strategy, the relation
between these both should be good so that the work should be done with coordination
and should complete in an effective manner.
Kaizen Theory: This theory is considered to be an effective approach for improving the
productivity of goods at continuous basis to fulfil the demands of consumer in target market.
When talking about Hot-point, the managers could plan strategies in manufacturing of quality
raw material, after which the workforce could accordingly produced products. The managers
should take in considerations, that product have to be matched with quality standard set to retain
potential buyers for the firm.
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Re-engineering Theory: It is also known as business process re-engineering theory,
which is identified as turn point for any business who are gradually earning profit or facing loss
in specified industry. In context with Hot-point manager have to critically analyse target market
and plan strategies that would beneficial in raising demand of product by consumers. Also it is
helpful in operating as well as managing business activities in work culture, for generating more
revenues in competitive market.
TASK 3
P3 Apply each stage of the PLC along with providing necessary supporting documentation for
the project.
For introducing a new product in market, it very important for producers to send the
product from product life cycle. It include points from first time introduction of product to the
point of final stage. Project life cycle, is a combination of two terms, one is project and second is
life cycle. Project indicates to products and goods whcih refers to anything which is tangible in
nature like manufactured goods, auto mobile, furniture along with intangible services like,
transportation and other. Where as, life cycle is the change which product has to face in order to
survive in market. And the term cycle is known as cyclic. Project life cycle is a combination of
different terms like, raw material, production, utilization and disposal.
Let's suppose, Hotpoint is going to launch a refrigerator in the market. Since there are
several refrigerator available in market, therefore, company has to study the different sources of
advertisements, so that their product get famous in market. Understanding the needs and then
producing a right product is very important for organisation (Rosemann and vom Brocke, 2015).
New technology used by organisation to meet the requirements of customer will help them in
making their product popular in market. Along with this, Hotpoint also have to study the
products provided by their competitors and also have to gain knowledge about their products and
strategies, this help them in gaining idea what type of refrigerator they have to produce. There
are four stages in project life cycle, which are as follow :-
1. Initiation: It is the first stage of project life cycle, which shows the initiation of product.
It is the phase where the management identified the business needs, issues or
opportunities and brainstorm ways that the organisation's team can meet this need, solve
problems or size this opportunity. This stage is very important as other stages are
which is identified as turn point for any business who are gradually earning profit or facing loss
in specified industry. In context with Hot-point manager have to critically analyse target market
and plan strategies that would beneficial in raising demand of product by consumers. Also it is
helpful in operating as well as managing business activities in work culture, for generating more
revenues in competitive market.
TASK 3
P3 Apply each stage of the PLC along with providing necessary supporting documentation for
the project.
For introducing a new product in market, it very important for producers to send the
product from product life cycle. It include points from first time introduction of product to the
point of final stage. Project life cycle, is a combination of two terms, one is project and second is
life cycle. Project indicates to products and goods whcih refers to anything which is tangible in
nature like manufactured goods, auto mobile, furniture along with intangible services like,
transportation and other. Where as, life cycle is the change which product has to face in order to
survive in market. And the term cycle is known as cyclic. Project life cycle is a combination of
different terms like, raw material, production, utilization and disposal.
Let's suppose, Hotpoint is going to launch a refrigerator in the market. Since there are
several refrigerator available in market, therefore, company has to study the different sources of
advertisements, so that their product get famous in market. Understanding the needs and then
producing a right product is very important for organisation (Rosemann and vom Brocke, 2015).
New technology used by organisation to meet the requirements of customer will help them in
making their product popular in market. Along with this, Hotpoint also have to study the
products provided by their competitors and also have to gain knowledge about their products and
strategies, this help them in gaining idea what type of refrigerator they have to produce. There
are four stages in project life cycle, which are as follow :-
1. Initiation: It is the first stage of project life cycle, which shows the initiation of product.
It is the phase where the management identified the business needs, issues or
opportunities and brainstorm ways that the organisation's team can meet this need, solve
problems or size this opportunity. This stage is very important as other stages are
depended on this only. In this stage, all the management of the company decided and plan
related to project goals, develop a project charter and identifying its stakeholder. For
working on a project effectively, it is very important for Hotpoint to study the
requirements of customers carefully. As in this stage, the production and investment rate
is high and return rate is very low, therefore, it is very important for marketing manager
to understand this that this will take about 4 to 5 weeks in increasing the profit.
2. Planning : Planning phase determines the scope of the project as well as the objectives of
the project. It begins with the outputs of the initiation phase. Planning refers to the
process of establishing the procedure, policies and documentation for planning,
managing, executing and controlling the project schedule. This stage is where customers
start accepting and product and product start gaining some profit. It is the stage where
manager have to pay more attention in product, as it is the period when product use to
attract customers and gain profitability. Therefore, manager have to make strategies for
maximizing their profit at this stage.
3. Execution : It is the third stage, this phase turns the plan in to action. In this stage the
management of Hotpoint, creating task and organizing workflows and assigning general
aspects of the projects to the appropriate team members, making sure team members are
not worked. Briefing tea members on tasks, communicating with team members, clients
and upper management and monitoring quality of work. In This phase the management
also manage the budget and monitoring spending and keeping the project on tracks in
terms of assets and resources.
4. Closure: This is the last phase and in it, the management of Hotpoint analysing the
project performance that it easily achieved its objectives and aims. They also monitor the
performance of the employees that are effectively play their roles in their work which is
allotted by the project manger to them. If the performance of all are good and the work of
project are completed on time then it is beneficial for the development of the firm. If
there are any issue then the management conduct post implementation reviews.
Project methodologies : In this project, variable task is scope, cost and time are
constants. In this, the framework is adaptive to initiate the project for getting positive outcomes.
Therefore, during the execution of project, the scope needs to be adjusted in order to get the
maximum business value from the project.
related to project goals, develop a project charter and identifying its stakeholder. For
working on a project effectively, it is very important for Hotpoint to study the
requirements of customers carefully. As in this stage, the production and investment rate
is high and return rate is very low, therefore, it is very important for marketing manager
to understand this that this will take about 4 to 5 weeks in increasing the profit.
2. Planning : Planning phase determines the scope of the project as well as the objectives of
the project. It begins with the outputs of the initiation phase. Planning refers to the
process of establishing the procedure, policies and documentation for planning,
managing, executing and controlling the project schedule. This stage is where customers
start accepting and product and product start gaining some profit. It is the stage where
manager have to pay more attention in product, as it is the period when product use to
attract customers and gain profitability. Therefore, manager have to make strategies for
maximizing their profit at this stage.
3. Execution : It is the third stage, this phase turns the plan in to action. In this stage the
management of Hotpoint, creating task and organizing workflows and assigning general
aspects of the projects to the appropriate team members, making sure team members are
not worked. Briefing tea members on tasks, communicating with team members, clients
and upper management and monitoring quality of work. In This phase the management
also manage the budget and monitoring spending and keeping the project on tracks in
terms of assets and resources.
4. Closure: This is the last phase and in it, the management of Hotpoint analysing the
project performance that it easily achieved its objectives and aims. They also monitor the
performance of the employees that are effectively play their roles in their work which is
allotted by the project manger to them. If the performance of all are good and the work of
project are completed on time then it is beneficial for the development of the firm. If
there are any issue then the management conduct post implementation reviews.
Project methodologies : In this project, variable task is scope, cost and time are
constants. In this, the framework is adaptive to initiate the project for getting positive outcomes.
Therefore, during the execution of project, the scope needs to be adjusted in order to get the
maximum business value from the project.
Tools : In this project, Gantt chart will be used and will help Hotpoint to track various
activities related to their project of new launch product development of launching 58 inches
television, which start from idea generation to final product launch.
Business case : This case is related with resources like funds, suppliers for raw material, area for
production, electricity and power etc., which are needed by Hotpoint to start their new and
innovative television product in the market. Executive summary : This business case will cover the future opportunity for Hotpoint to
launch their television of size 58 inches. Along with this, also includes problem or
opportunities and also focused towards finding action plan or solution to accomplish it
This will also recommend over best solution to accomplish an opportunities. Problem or opportunities : In this, the opportunity for Hotpoint is to enter with a new
product into the market such as large television of 58 inches (Takey and Carvalho,
2015)
Possible solution of the opportunity : The possible solution of this opportunity is its take
corrective action plan to manufacture the actual product more productively and
appropriately into the market.
Overview of the company Hot point is an American and European brand company, founded in
1911 by Earl Richardson. This is engaged in the process of
manufacturing, marketing and selling of home appliances. The main
products of Hot-point are Fridges and Freezers, electric cars, gas
and electric cookers and washing machines.
Vision & Mission Hotpoint vision is to “customer favourite choice” and their mission
is to make their customer life easier at home.
Objectives The major objective of Hotpoint is to add more advanced products
into the same sector of electronics. That's why they are doing the
production of television.
Strategies Hotpoint is focused towards entering large screen television market,
which will be used in household, stadium and large parks. The
major target behind new product in to gather the new base of
customer along with creating their interest for selling existing
activities related to their project of new launch product development of launching 58 inches
television, which start from idea generation to final product launch.
Business case : This case is related with resources like funds, suppliers for raw material, area for
production, electricity and power etc., which are needed by Hotpoint to start their new and
innovative television product in the market. Executive summary : This business case will cover the future opportunity for Hotpoint to
launch their television of size 58 inches. Along with this, also includes problem or
opportunities and also focused towards finding action plan or solution to accomplish it
This will also recommend over best solution to accomplish an opportunities. Problem or opportunities : In this, the opportunity for Hotpoint is to enter with a new
product into the market such as large television of 58 inches (Takey and Carvalho,
2015)
Possible solution of the opportunity : The possible solution of this opportunity is its take
corrective action plan to manufacture the actual product more productively and
appropriately into the market.
Overview of the company Hot point is an American and European brand company, founded in
1911 by Earl Richardson. This is engaged in the process of
manufacturing, marketing and selling of home appliances. The main
products of Hot-point are Fridges and Freezers, electric cars, gas
and electric cookers and washing machines.
Vision & Mission Hotpoint vision is to “customer favourite choice” and their mission
is to make their customer life easier at home.
Objectives The major objective of Hotpoint is to add more advanced products
into the same sector of electronics. That's why they are doing the
production of television.
Strategies Hotpoint is focused towards entering large screen television market,
which will be used in household, stadium and large parks. The
major target behind new product in to gather the new base of
customer along with creating their interest for selling existing
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products. They have decided the size of television up-to 58 inches.
Project plan : A project plan is the key to a successful project and is the most important
document that needs to be created when starting any business project.
Cost Pricing strategy must be consider while launching any new product
for the development of entire project. Project manager has decided the
budget requirement £100000 to do research, which will goes till
production process, including the cost of manufacturing till launching
of larger television of 58 inch into the market.
Resources Resources such as cost, manpower, time, communication, funds etc.
will be used to carry out this project more effectively and with
positive results. Time taken in completion of this project is approx 8
months.
Research methodologies This brief research will include mainly secondary research to identify
the scope for new product as large size television for household basis,
for stadium and large parks. Along with this, data is gathered from the
secondary research only.
Project plan : A project plan is the key to a successful project and is the most important
document that needs to be created when starting any business project.
Cost Pricing strategy must be consider while launching any new product
for the development of entire project. Project manager has decided the
budget requirement £100000 to do research, which will goes till
production process, including the cost of manufacturing till launching
of larger television of 58 inch into the market.
Resources Resources such as cost, manpower, time, communication, funds etc.
will be used to carry out this project more effectively and with
positive results. Time taken in completion of this project is approx 8
months.
Research methodologies This brief research will include mainly secondary research to identify
the scope for new product as large size television for household basis,
for stadium and large parks. Along with this, data is gathered from the
secondary research only.
Work Breakdown Structure: A work-breakdown structure in project management and systems
engineering, is a deliverable-oriented breakdown of a project into smaller components
(Todorović and et. al., 2015). A work breakdown structure is a key project deliverable that
organizes the team's work into manageable sections.
engineering, is a deliverable-oriented breakdown of a project into smaller components
(Todorović and et. al., 2015). A work breakdown structure is a key project deliverable that
organizes the team's work into manageable sections.
(Work breakdown structure)
TASK 4
P4 Review and critique the effectiveness of the PLC in application to the chosen project
Effectiveness of PLC while applying it on a particular product basically depends upon
two different things and these are reliability and suitability at the same time, if it is talked about
Hotpoint, is going to develop a new product i.e. 58 inched television. Here, waterfall model is
going to be made in order to understand the overall structured PLC. In present context, the model
is basically enclosed with a range of stages that are coming under Waterfall model and these are: Requirements : Under this specific and initial level, proper identification is basically
takes place of a new idea. In present context, Hotpoint is working in appliances which
made them to think upon developing a large television (58 inches). As, this stage simply
focus on actual requirement of television whether for home purpose, stadium and large
parks. With the assistance of respective approach it has been identified that is their any
requirement of launching this product. If have then product will go through next step. Product design : Second phase where proper product design of new idea of producing a
TV of 58 inches takes place. Here, a range of things like innovation, customer
requirements and current trends would help Hotpoint in reaching to new heights, where
company would directly grab a good attention in the market (Todorović and et. al., 2015).
After identifying requirement product will design which should be innovative so that
customers will attract.
TASK 4
P4 Review and critique the effectiveness of the PLC in application to the chosen project
Effectiveness of PLC while applying it on a particular product basically depends upon
two different things and these are reliability and suitability at the same time, if it is talked about
Hotpoint, is going to develop a new product i.e. 58 inched television. Here, waterfall model is
going to be made in order to understand the overall structured PLC. In present context, the model
is basically enclosed with a range of stages that are coming under Waterfall model and these are: Requirements : Under this specific and initial level, proper identification is basically
takes place of a new idea. In present context, Hotpoint is working in appliances which
made them to think upon developing a large television (58 inches). As, this stage simply
focus on actual requirement of television whether for home purpose, stadium and large
parks. With the assistance of respective approach it has been identified that is their any
requirement of launching this product. If have then product will go through next step. Product design : Second phase where proper product design of new idea of producing a
TV of 58 inches takes place. Here, a range of things like innovation, customer
requirements and current trends would help Hotpoint in reaching to new heights, where
company would directly grab a good attention in the market (Todorović and et. al., 2015).
After identifying requirement product will design which should be innovative so that
customers will attract.
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Implementation : Third stage where overall product design is going to be executed by
manufacturing department of Hotpoint so that its business could get expanded in different
areas. Testing : Under this stage over all execution would be basically control so that no errors
could take place and through this section both actual strength and suitability of the
sample product for launching into the market could be analysed. Deployment of system : This stage is specifically enclosed with maturity level reaching is
the major target, which can be done through effective control over the distribution system
of television.
Maintenance : This stage needs to evaluate and control to stop product (58 inches
television) to fall at the decline. So that, there will be no further loss to company.
Benchmarking – It is a basic process which are used by companies to measure their
performance against certain set standards. These standards play a very crucial role for companies
as they are able to analyse their present performance and then find out what are deviations which
can be corrected by them to reach the specified benchmarks. Scope of improvements has also to
be identified with help of such set benchmarks.
CONCLUSION
From the above mentioned report it has been concluded that project management is a
quite essential concept which helps employees in working effectively and timely completing
projects as well. In this case operational management principles have played a quite important
and helpful part. Also they promote the use of effective products and services which aim towards
continuous improvement. This report deals with product life cycle and its various aspects such as
Gantt chart and work breakdown structure. This report also focusses on various operational
principles such as lean theory, sigma etc.
manufacturing department of Hotpoint so that its business could get expanded in different
areas. Testing : Under this stage over all execution would be basically control so that no errors
could take place and through this section both actual strength and suitability of the
sample product for launching into the market could be analysed. Deployment of system : This stage is specifically enclosed with maturity level reaching is
the major target, which can be done through effective control over the distribution system
of television.
Maintenance : This stage needs to evaluate and control to stop product (58 inches
television) to fall at the decline. So that, there will be no further loss to company.
Benchmarking – It is a basic process which are used by companies to measure their
performance against certain set standards. These standards play a very crucial role for companies
as they are able to analyse their present performance and then find out what are deviations which
can be corrected by them to reach the specified benchmarks. Scope of improvements has also to
be identified with help of such set benchmarks.
CONCLUSION
From the above mentioned report it has been concluded that project management is a
quite essential concept which helps employees in working effectively and timely completing
projects as well. In this case operational management principles have played a quite important
and helpful part. Also they promote the use of effective products and services which aim towards
continuous improvement. This report deals with product life cycle and its various aspects such as
Gantt chart and work breakdown structure. This report also focusses on various operational
principles such as lean theory, sigma etc.
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.
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>.
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>.
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