Project Management for New Product Development

This assignment provides a comprehensive analysis of project management for new product development. It includes a discussion on the importance of project management in electrical companies, such as XYZ, and how it can increase marketing analysis in a positive context. The assignment also covers the development of communication skills to deal with large numbers of audiences. References to various books and journals are provided, including 'Global Project Management' by Binder and 'Project Management: A Systems Approach' by Kerzner.

Operations and Project
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ..........................................................................................................................................1
P1. Effectiveness of the implementation of operations management in an organisation in
context with various principles...................................................................................................1
TASK 2............................................................................................................................................3
P2. Continuous improvement plan based on reviews and critique of operations management
principles.....................................................................................................................................3
TASK 3............................................................................................................................................5
P3 Preparation of project life cycle (PLC) for the project developed by the cited firm with
reference to various documents...................................................................................................5
a) Explain the importance of the new product, its target market. ..............................................5
b) Explanation of each stage of life cycle...................................................................................6
C) Work mbreak down structure.................................................................................................7
TASK 4............................................................................................................................................8
P4 Critical review of the different application of the effectiveness of the PLC using
appropriate theories and models..................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The project and operations management is very vital for an organisation. This helps the
firm to meet the needs and demands of its customers and meet the needs and requirements of
consumer in a better way. The development of the new product will help the firm to handle the
various business operations (Kerzner and Kerzner, 2017.). Other than this, this will support the
business organisation to gain a sustainability in market. This report will lay emphasis on
effective growth of different business operations and develop a new and high quality products by
XYZ electrical comapny. Besides this, the effective business plan, Project life cycle and work
breakdown structure with Gantt Chart is been developed, to have a critical knowledge about the
different processes that are been taken in consideration by the electrical firm. Also, the
effectiveness of better work process is been taken in thought process.
TASK 1
P1. Effectiveness of the implementation of operations management in an organisation in context
with various principles
Operation’s management will play a significant and crucial role in the functioning of an
organisation. The better management of operational research at organisation will help to meet
needs and demands of organisation in a very significant manner. The effective handling of
operation's management will help in meeting customers requirements. The better operational
management will support electrical firm to increase its productivity in a better way. Besides this,
efficient implementation and utilisation of different measures and handling of various theories
and implementation of models will be considered. This will help the form to increase its
productivity and help it to meet requirements of customers in a very effective manner. A wide
variety of operations and models will be followed that will help in meeting the needs and
demands of the users, supporting them to handle a wide variety of operations (Krajewski,
Malhotra and Ritzman, 2015). The XYZ company will see through various handling of
operations to launch a new product or services that will support firm to manage various
operations in a better and effective way. Other than this, various principles such as brand reality,
fundamental management etc. will support handling of different sort of operations that will help
in meeting operational requirements of user in a better way. Other than this, various operation's
management models are been taken into thought process by the business firm. The approaches
like Total quality management, lean management and six sigma approach will support the firm to
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handle its business operation's and project development processes. This models and approaches
will help the XYZ company to develop a better product i.e. large screen TV, to enter into new
market and increase its profitability and productivity. The improved management of different
sort of market demands and operation's will help in handling different operations which will help
in meeting demands and requirement criteria of customers, to deliver them with high quality of
services or products. Adopting of this effective measures will support cited business firm to
develop better product and have a good market penetration by the company (Harrison and Lock,
2017).
The approaches like six sigma approach and lean management will support better
handling of different business operations, which will help in maintaining the production quality
and capacity of company. The six sigma approach will help cited electrical business firm to
maintain quality and handle a wide variety of operations that will support meeting requirements
of users. It assists firm to maintain the quality standards and handle its various operations in
better and significant manner. Besides this, it will help in improving manufacturing process and
product quality. This will lead to handling different operations of company and lead business
firm to develop a better product or services. Other than this, six sigma approach will support firm
to take in consideration a wide variety of operations to improve its productivity and manage
different sort of business functions. Apart from this, lean approach will help in meeting
organisational requirements of user in a better way by handling a wide variety of operations, that
will reduce wastage of vital and expensive resources of company and help it to gain a better
productivity and meeting needs and demands of user as well as stakeholders in a very significant
manner (Heizer, 2016). This will improve its profit generation and handle different sort of
operations to gain a better production capacity and customer satisfaction level. Besides this, lean
management approach will help in getting cost effectiveness and reduce production expenses of
company.
Six Sigma consist disciplined, data driven approach that helps to eliminate defects in the
process. This is because, it helps to driven six standard deviations between mean and nearest
specification. In the XYZ company, there are five phases included in it which define simple
process to solve problem. It contains define, measure, analyse, improve and control. Review in
this approach operates and support under supervision to assess quality problem which involved
for quality improvement. Furthermore, it also helps to increase levels and roles that are important
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to play in whole process. With this regard, tools and techniques set that assists to improve
process in the enterprise. Primary goal of six sigma certification is to validate every individual
who possess skills to assess errors and defects.
Along with this, six sigma also assists in XYZ to forecast and improve proper process
mapping and leadership. Hence, it increases maintenance practice of systems to face critical
challenge to manage properly with adopting social principles. It increases training effectiveness
with using measurable parameters, development of the business ascertained in positive way.
TASK 2
P2. Continuous improvement plan based on reviews and critique of operations management
principles
A continuous improvement plan is an effective measure that is been taken in though
process by electrical firm that will help in better handling of different operations which will lead
to the execution of different operations which helps in meeting needs and demands of users in an
effective and significant manner. It helps firm to improve its productivity and operational
management capacity in a very effective way. Other than this, it will help in meeting the needs of
user in a very effective and significant manner (Binder, 2016). Besides this, the continuous
improvement plan will help cited firm to meet changing needs and demands of user as well as
the stakeholders. The better implementation of continuous development plan will help in meeting
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Illustration 1: Continuous improvement cycle
(Source: Continuous Improvement, 2016)

operational functionalities and targets in a better way. Other than this, it also helps in effective
execution of different business operations at cited firm.
This will involve the following measures that will help in better growth and development
of company:
Plan: It will involve disintegration of different business processes that will be undertaken by
XYZ company. The proper planning will involve the various measures that will help in handling
the business operations. Besides this, it will involve the development of a time table or setting up
of mile stones by the electrical firm.
 Do: It will involve the processes that will be taken by the organisation for the effective
and better handling of business operations, that will help in better management of the
wide variety of business functions that will help in meeting the needs and demands of the
customers.
 Check: It involves the testing or the assessment part of the various operations that are
been taken in the better handling of the different business operations or production
functions. The better assessment of the developed good or product and services by the
experts at the cited business organisation, which will help in monitoring the quality of
services and make the timely and necessary changes or alteration that will help in
meeting the better needs and demands of the customers (Schwalbe, 2015).
 Act: This will involve the reassessment and giving the output in a better way that will
help in meeting the needs and demands of the customers in a better way. It will help in
handling a wide number of operation's and gain suitable and appropriate output. It will
help the electrical firm to maintain the quality and production standards.
The effective action plan for the electrical company will include the following measures
and steps:
 Setting of aims: The electrical firm will analyse the market conditions and develop a
better action plan which will help in meeting the needs and demands of the organisation
in a better way. This will also help the firm to gain a better productivity.
 Taking proper action: Once the plan is been devised, the operations will be executed as
per the plan. It will involve the better handling of different functions like manufacturing,
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marketing, analysing, testing, modifications and re evaluation of the developed product or
services that will be developed by XYZ company.
 Checking of finished good or services: XYZ company will look after effective
assessment or checking of the finished and developed product or services, before
launching in market. This approach is been followed to test the quality and feasibility
level of the large screen TV's developed by XYZ company (Fleming and Koppelman,
2016).
 Launching of finished goods and products: Once the product or services developed by
XYZ company clear out the different quality tests, they are been launched in market to
get the proper customer's reaction. This helps in meeting requirements of the consumers
and get the proper idea about their requirement to be taken in thought process to develop
more improved and high quality product or services.
Different strategies like lean production or Six sigma approach can be used by XYZ
company, for the implementation of effective improvement cycle in the organisation. It will help
in maintaining the improvement in quality of products and services i.e. Large screen TV's it will
help in handling the operations in a very efficient manner. The combination of lean management
and six sigma approach will help in reserving the resources and support the company to maintain
the quality of services and products. This will be useful in meeting the needs and demands of the
users and handle the different operational measures that supports development of new product
like large screen TV's by XYZ company.
The lean management approach will help in reducing the wastage of vital resources and
support of cited business firm. It will help the firm to gain a better cost effectiveness and rise in
operational efficiency. Similarly, the six sigma approach will help in handling a wide variety of
operational measures that will be taken by XYZ company to meet the operational requirements
of cited business firm. Other than this, it will help the business entity to increase its production
capacity, that will support it in development of high quality product and services to address its
consumers needs. Besides this, the implementation of six sigma approach will help the firm to
generate large quantity of revenues and higher productivity (Wilson, Bhakoo and Samson, 2018).
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TASK 3
P3 Preparation of project life cycle (PLC) for the project developed by the cited firm with
reference to various documents.
a) Explain the importance of the new product, its target market.
These days Large Screen Television are becoming very famous and popular among the
people as it provide clear and much better experience to the individuals. Nowadays there are
variety of ranges and options are available in Large Screen Television because of its increasing
demand and popularity. While, on the other hand the prices of these televisions are very high in
comparison to the normal one. Mostly the people who belong to good economic groups choose
such kinds of products in order to encounter the better experiences and to increase there status
symbol. As per many reports, it has been seen that such televisions are good for eyes because it
has so many advanced features and provisions that are specially included in the product in order
to safeguard the eyes of the individuals (Mir and Pinnington, 2014).
As the competition is increasing it is becoming very important for the organisation like
XYZ, to adopt the changes and the requirements of the market in order to meet the customer
requirements. The prices of 58 inches Large Screen Television are usually very high and there
are various groups of people who are enabled to afford it. The target audience of such products
are basically the individuals who belong to high economic groups and classes and who can easily
pay the high prices of the product just to ensure their satisfaction and comfort. The target market
of such product is very broad and huge and their distribution channel is also very wide as it
covers large number of areas in order to ensure its recognition and identification(Arnett,2018).
b) Explanation of each stage of life cycle.
The product life cycle is based upon various aspects of marketing and management
decisions within business organisation. All products pass five different stages and that are :
development, introduction, growth, maturity and decline.
DEVELOPMENT
This is the stage on which the product is going through a development process and it
includes deciding its costs, investment areas, risk factors and many other types of the aspects that
are important for building up strategies and planning for the product.
INTRODUCTION
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At this stage development of the market and its product takes place, it includes creating
brand awareness, generally the cost of marketing is high at this stage and it is also necessary t
reach the potential customers. T also increases the prices of the product.
GROWTH
At this stage the product has received the acceptance of the customers and companies are
Operations and Project Management working in order to increase there market share and ratio's .
In order to increase the demand and the growth of the product it is very important to focus upon
the targeted audience of the organisation.
MATURITY
At this stage the competition increases so it becomes very necessary for the organisations
Operations and Project Management to enhance the unique and individual features of their
products so that it can help in gaining the attention of the customers towards the product (Gido,
Clements and Clements, 2014.
DECLINE
This stage focus upon the factors that lay emphasis upon the decrease in revenues and
profits because of the market saturation or high competition or any other factors that lay negative
focus upon the working of the organisation.
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C) Work break down structure
Figure 1 Work Break down structure
Source: (Project Management for New Products and Services, 2018)
Task
Mode Task Name Duration Start Finish Predecessors
Auto
Scheduled
Introduction of new
product 1 day Wed 9/12/18 Wed 9/12/18
Auto
Scheduled
Market analysis for
customer preference 7 days Fri 9/14/18 Mon 9/24/18
Auto
Scheduled
Assessment of data
collected with primary
sources
5 days Thu 9/13/18 Wed 9/19/18 1
Auto
Scheduled
Development of
product(TV) 15 days Tue 9/25/18 Mon 10/15/18 2
Auto
Scheduled
Testing with statistical
tool 7 days Thu 9/20/18 Fri 9/28/18 3
Auto
Scheduled Evaluation of result 3 days Tue 10/16/18 Thu 10/18/18 4
Auto
Scheduled
Modifications and
reassessment 7 days Mon 10/1/18 Tue 10/9/18 5
Auto
Scheduled
marketing activities of
promotion with social
15 days Tue 10/16/18 Mon 11/5/18 4,5
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media
Auto
Scheduled Launching of product 1 day Fri 10/19/18 Fri 10/19/18 5,6,7
D) Gantt chart
TASK 4
P4 Critical review of the different application of the effectiveness of the PLC using appropriate
theories and models.
The project life cycle (PLC) will help in meeting the needs and demands of the users in a
better way that will help in handling of the different operations that will help to implement the
effective operational measures. This will help the firm to meet the needs and demands of the user
and will support the rise in productivity and revenue generation in country. The better handling
of PLC will help XYZ company to adopt effective measures that will increase its efficiency and
handling of wide range of operations. Besides this, it will help the management of cited business
organisation to follow and adopt different measures of improving the productivity by planning
the functions and executing them in a very effective manner. It will support the company to
identify its project scope and take in effective thought process different operational measures.
Other than this, it will help the firm to schedule the project and services on a wider scale and
maintain the quality of different products and services offered to the customers. The effective
PLC process will involve the different strategies and measures like lean management, total
quality management and six sigma approach, which will not only help in maintaining the quality
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of different services but also improve the operational capacity of company in a better way
(Maylor, Turner and Murray-Webster, 2015).
The effective designing and implementation of a PLC is very necessary for a firm that
will help in the effective execution of project by XYZ company. The better designing will help
in identification of the different measures that will help in meeting the needs and demands of the
company as well as the buyers of the services or products from the company. It will help them to
plan different business operations and help in gaining the better profitability leading to higher
revenue generation. Different cost saving approaches like lean management or six sigma
approach will be used to increase the cost efficiency of the company. It will help the cited
business firm to use its resources in a very efficient manner. Other than this, it will increase the
overall operational efficiency of company. The management will develop a better business or
product development plan to have a better handling of different operations at the work place. The
approach of lean management, incorporated by the management of cited firm will help in
effective utilisation of different resources that are been developed by the cited business firm.
To improve the quality, scope and tenure of the company, the Six sigma approach will be
used by cited business firm that will help in meeting the needs and demands of the user. The six
sigma approach will involve various measures and practices that will help XYZ company to meet
the quality standards of the company and help in increasing the scope of the company. The rise
in the scope will help the firm to develop high quality product and services, to increase and
improve tenure of company. Other than this, it will help in better project implementation.
Apart from this, a wide variety of theories and concepts will be adopted by small as well
as larger firm and projects. The lean management or total quality management (TQM) will be
used by a business firm to increase its effectiveness to execute different sort of business
operations like manufacturing or marketing in a very effective way (Oke, Idiagbon-Oke and
Walumbwa, 2015).
CONCLUSION
This can be concluded from the report that the better handling of the different operations
in the development of a project by XYZ company. Different approaches will be taken in
consideration that will help in meeting the needs and demands of the user. Also, the effective
work break down and Project life cycle is been taken in consideration with Gantt Chart.
Furthermore, it can be articulated six sigma which is most important tool in respect to maintain
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quality and standard. With this regard, variety of operations handle through launch new products
and services. It assists to reduce defects from operations in electrical company.
Report also summarized about continuous improvement plan which implement in
operations management principles. It helps to consist effective execution for different businesses
in chosen enterprise. Moreover, project life cycle also develop successfully in the organisation
for new product development and for target market as well. WBS also explained to launch new
product in systematic way at workplace of XYZ company. In order to analysis present enterprise,
I learnt several things. XYZ company deals in electrical company so that new product
development helps to increase marketing analysis in positive context. I can also develop my
communication level to deal with large number of audience.
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REFERENCES
Books and journals
Binder, J., 2016. Global project management: communication, collaboration and management
across borders. Routledge.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Gido, J., Clements, J. and Clements, J., 2014. Successful project management. Nelson Education.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Heizer, J., 2016. Operations Management, 11/e. Pearson Education India.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Krajewski, L.J., Malhotra, M.K. and Ritzman, L.P., 2015. Operations management: processes
and supply chains. Pearson.
Maylor, H., Turner, N. and Murray-Webster, R., 2015. “It worked for manufacturing…!”:
Operations strategy in project-based operations. International Journal of Project
Management. 33(1). pp.103-115.
Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking
project management performance and project success. International journal of project
management. 32(2). pp.202-217.
Oke, A., Idiagbon-Oke, M. and Walumbwa, F., 2015. Erratum: The relationship between
brokers' influence, strength of ties and NPD project outcomes in innovation-driven
horizontal networks (J. Oper. Manag.(2008) 26: 5 (571-589) DOI10. 1016/j. jom.
2007.10. 004.). Journal of Operations Management. 33. pp.155.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Wilson, K.B., Bhakoo, V. and Samson, D., 2018. Crowdsourcing: A contemporary form of
project management with linkages to open innovation and novel operations. International
Journal of Operations & Production Management.
Online
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Project Management for New Products and Services. 2018. [Online]. Available through:
<https://saylordotorg.github.io/text_developing-new-products-and-services/s16-project-
management-for-new-pro.html>.
Continuous improvement process, 2016. [Online]. Available through:
<http://www.newcenturyeducation.org/continuous-improvement/ >
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