Project Development for Strategic Management - Task 5.2

This project is based on development of new beauty product in UK. It focuses on different activities and aspects which are required to manage by project manager at the time of developing a new beauty soap for customers. The project objectives are to develop a beauty product for customer. Cost estimation is £100000 and time estimation is 4 months.

Project Development for Strategic
Management
Task 5.2

INTRODUCTION
Introduction:
 The current project is based on development of new beauty product in UK.
 Project has chosen soap as a beauty product.
 Project will focus on different activities and aspects which are required to
manage by project manager at the time of developing a new beauty soap for
customers.
 Project objectives: Developing a beauty product for customer is the
major objective of this project.
 Cost estimation: £100000.
 Time estimation: 4 months

Timescale for the project plan
Activities (in days) 3 14 27 43 5 14 21
Idea generation
Idea screening
Development of concept
Business analysis
Marketing testing
Technical implementation
Commercialization

Implementation of the project plan:
 Gantt chart
 Network diagram
 Project summery
 Critical path analysis

Gantt chart:

PERT (Network Diagram):

Critical path analysis
Critical path Calculation of total duration Total duration for completing
the project
3-4-6-7-8-9-10-11-13-14-15-
16-17-21-23-26-27-28-29-34
2+1+5+5+3+2+2+2+2+2+1
0+7+6+2+10+5+2+5+3+4+
2
75 days

Measures to monitor and
evaluate progress and outcomes
 Running on schedule
 Running within planned costs
 Proper use of resources

Outcomes of the project
 Gantt chart, Network diagram and Critical path analysis have reflected
that project has completed on planned time.
 Every activity has accomplished as per the estimated duration.
 Overall, it has reflected that project performance is very effective.
 But, allocation of the resources has reflected that most of the resources
are over allocated.
 As per the above WBS project manager can effectively develop new
Premium Allure beauty Soap product using all these activities.
 These activities have helped in attaining project objectives in effective
manner.

Cont…..
 As per the above discussion project manager has estimated
cost for this project was £100000.
 Implementation of the project plan has reflected that actual
cost of this project is £94080.
 It has reflected that actual cost of project is low as compare to
planned cost. So, positive variance of cost is $5920.
 It has reflected that project manager has allocated financial
resources in effective manner.
 Therefore, the whole project plan has under controlled and
completed within the given constraints.

Recommedations
 Project manager should decide specified the start and finish time of
every activity to decrease the issue relate to increase completion of
plan.
 Organization should recruit those people who are having the high
experience and already done the similar work in new product
development.
 Manager should adopt the activity based costing method for managing
the funds at every level of project plan.
 Manager of project should use the different quality management
techniques such as TQM, control charts, Six Sigma etc.

References
 Greasley, A., 2007. Operations Management. SAGE.
 Hobbs, P., 2009. Project Management. Dorling Kindersley Limited.
 Kathy, O. R. and Deborah, R. P., 2007. Integrating self‐managed work
teams into project management. Journal of Facilities Management. 5(1).
Pp.22 - 36.
 Kloppenborg, T., 2011. Contemporary Project Management. 2nd ed.
Cengage Learning
 Knapp, A. and et.al., 2010. A Project Manager's Guide to Passing the
Project Management (Pmp) Exam. www.pmexam.com.

Thank You