Project Management for New Product Development
Added on 2020-07-22
15 Pages4202 Words32 Views
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Operations and ProjectManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ..........................................................................................................................................1P1. Effectiveness of the implementation of operations management in an organisation incontext with various principles...................................................................................................1TASK 2............................................................................................................................................3P2. Continuous improvement plan based on reviews and critique of operations managementprinciples.....................................................................................................................................3TASK 3............................................................................................................................................5P3 Preparation of project life cycle (PLC) for the project developed by the cited firm withreference to various documents...................................................................................................5a) Explain the importance of the new product, its target market. ..............................................5b) Explanation of each stage of life cycle...................................................................................6C) Work mbreak down structure.................................................................................................7TASK 4............................................................................................................................................8P4 Critical review of the different application of the effectiveness of the PLC usingappropriate theories and models..................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONThe project and operations management is very vital for an organisation. This helps thefirm to meet the needs and demands of its customers and meet the needs and requirements ofconsumer in a better way. The development of the new product will help the firm to handle thevarious business operations (Kerzner and Kerzner, 2017.). Other than this, this will support thebusiness organisation to gain a sustainability in market. This report will lay emphasis oneffective growth of different business operations and develop a new and high quality products byXYZ electrical comapny. Besides this, the effective business plan, Project life cycle and workbreakdown structure with Gantt Chart is been developed, to have a critical knowledge about thedifferent processes that are been taken in consideration by the electrical firm. Also, theeffectiveness of better work process is been taken in thought process. TASK 1 P1. Effectiveness of the implementation of operations management in an organisation in contextwith various principlesOperation’s management will play a significant and crucial role in the functioning of anorganisation. The better management of operational research at organisation will help to meetneeds and demands of organisation in a very significant manner. The effective handling ofoperation's management will help in meeting customers requirements. The better operationalmanagement 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 theoriesand implementation of models will be considered. This will help the form to increase itsproductivity and help it to meet requirements of customers in a very effective manner. A widevariety of operations and models will be followed that will help in meeting the needs anddemands 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 ofoperations to launch a new product or services that will support firm to manage variousoperations 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 helpin meeting operational requirements of user in a better way. Other than this, various operation'smanagement models are been taken into thought process by the business firm. The approacheslike Total quality management, lean management and six sigma approach will support the firm to1
handle its business operation's and project development processes. This models and approacheswill help the XYZ company to develop a better product i.e. large screen TV, to enter into newmarket and increase its profitability and productivity. The improved management of differentsort of market demands and operation's will help in handling different operations which will helpin meeting demands and requirement criteria of customers, to deliver them with high quality ofservices or products. Adoptingof this effective measures will support cited business firm todevelop 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 betterhandling of different business operations, which will help in maintaining the production qualityand capacity of company. The six sigma approach will help cited electrical business firm tomaintain quality and handle a wide variety of operations that will support meeting requirementsof users. It assists firm to maintain the quality standards and handle its various operations inbetter and significant manner. Besides this, it will help in improving manufacturing process andproduct quality. This will lead to handling different operations of company and lead businessfirm to develop a better product or services. Other than this, six sigma approach will support firmto take in consideration a wide variety of operations to improve its productivity and managedifferent sort of business functions. Apart from this, lean approach will help in meetingorganisational requirements of user in a better way by handling a wide variety of operations, thatwill reduce wastage of vital and expensive resources of company and help it to gain a betterproductivity and meeting needs and demands of user as well as stakeholders in a very significantmanner (Heizer, 2016). This will improve its profit generation and handle different sort ofoperations to gain a better production capacity and customer satisfaction level. Besides this, leanmanagement approach will help in getting cost effectiveness and reduce production expenses ofcompany.Six Sigma consist disciplined, data driven approach that helps to eliminate defects in theprocess. This is because, it helps to driven six standard deviations between mean and nearestspecification. In the XYZ company, there are five phases included in it which define simpleprocess to solve problem. It contains define, measure, analyse, improve and control. Review inthis approach operates and support under supervision to assess quality problem which involvedfor quality improvement. Furthermore, it also helps to increase levels and roles that are important2
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