Launching a Fresh Juice Product

This assignment outlines the process of bringing a new fresh juice product to market. It begins with ideation and screening, followed by testing, designing features, and developing a prototype. The plan includes launching the prototype, gathering customer feedback, and finally launching the full fruit juice product with a marketing campaign. Continuous monitoring and control are also emphasized for success.

PROJECT MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
QUESTION 1...................................................................................................................................1
Q.1 (A) Overview of the project background, objectives, scope, deliverables and constraints
................................................................................................................................................1
Q.1 (B) Identifying the manner in which project structure is related to the existing one of an
organization............................................................................................................................4
QUESTION 2...................................................................................................................................4
Q.2 (a) Presenting the work breakdown structure.................................................................4
Q.2 (b) Presenting the rationale for determining work packages.........................................10
Q.2 (c) Stating the importance of WBS in the planning process..........................................10
Q.2 (d) Project manager’s skills...........................................................................................10
QUESTION 3.................................................................................................................................11
Q.3 (a) Estimating the requirement of resources for the concerned project plan.................11
Q.3 (b) Presenting the budget that reflects cost associated with the delivering of work package
..............................................................................................................................................12
Q.3 (c) Stating the key skills of project manager.................................................................13
QUESTION 4.................................................................................................................................13
Q.4 (a) Risk identification and assessment...........................................................................13
Q.4 (b) Stating the extent to which risk management is essential and helps in assessing the
same......................................................................................................................................14
Q.4 (c) stating the skills that are required by the manager for managing project in a successful
manner..................................................................................................................................15
REFERENCES..............................................................................................................................16

Index of Tables
Table 1: Project charter....................................................................................................................2
Table 2: Activity plan......................................................................................................................4
Table 3: Budget..............................................................................................................................10
Table 4: Risk register.....................................................................................................................11

Illustration Index
Illustration 1: WBS..........................................................................................................................5
Illustration 2: Gantt chart.................................................................................................................7
Illustration 3: Network diagram.......................................................................................................8

INTRODUCTION
Project management is an important stream that covers various aspects which needs to be
considered in resolving all issues. Activities are properly displayed with the hep of WBS
structure prepared by a project manager. This report emphasises on taking project on the
launching of product in order to cater all the needs and expectations of all the customers in the
external business environment. On the basis of the given case situation, Morrison has been
selected which is planning to launch fruit juice in the market. Focus of the report also lies on
assessing all kinds of risks associated with a project as product development is one of the
important step taken by an entity in boosting their existing market share. Budgetary
requirements of a particular project will also get fulfilled as cost of all the tasks and activities are
properly analysed.
Aim- To analyse the impact of product launching on the business performance of an entity.
QUESTION 1
Q.1 (A) Overview of the project background, objectives, scope, deliverables and constraints
Background
Current project is based on launching new product in a similar market by satisfying
various needs and expectations of all the users of the external business environment. Existing
business resources are properly analysed in relation to the demands and wants of all the
customers as the success of product launch is highly depends on the tastes and preferences of the
customers (Eshete and Kimuyu, 2016). Project of product development requires consideration of
each and every factors by an entity as the primary focus of project manager is on catering all the
needs of an individual. Current attributes of products are judged in accordance with the trust and
confidence build up through offering all their services. External competition will be analysed by
an entity by various activities as their primary concern is to minimise all the risks associated with
a project. Successful implementation of a project is significant for the entire performance of an
entity as they can capture higher market share in the external market. Proper allocation of tasks
and resources are essential part of a successful project that enhances the existing quality of a
business project.
Project objectives
 To Get competitive advantage over external competitors due to affordable technology
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 To Provide additional services to customers through new product
 To Extend current market share
 To Satisfy higher customer's needs and expectations
 To Change according to the external market changes in terms of technology and cultural
changes.
Smart objectives
Specific-Goal of this product launch is to create competitive advantage over the external market
competitors on the basis of unique technology adopted by an entity which is reflected in terms of
product launch by firm.
Measurable-Analyse the profitability of current product in relation to the existing market share
capture by this product in the future.
Achievable- The success of current project will be identified by a project manager by comparing
its existing product and new product in order to identify all the gaps found in both the products.
This evaluation will be helpful for an entity in order to achieve all the targets and aim within a
given span of time.
Realistic- Objectives framed for a particular project are not vague as their identity will be
Timely- Time scale of current project will be determined in advance in the initiation of project as
this would help in achieving all the targets in short span of time.
Project Scope and charter
Table 1: Project charter
PROJECT CHARTER
Product Launch
19th June 2017
Project rationale
Product development is the basic concern of the current project in which new product has
launched in the market in order to create its unique identify. Customer's needs and expectations
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will get fulfilled with the help of current project. This project has categorised into various
segments that will be helpful for an entity. Task and duties are properly allocated among all the
personnel associated with the current project. Primary concern of this project is to achieve all
the desired objectives as all the aims framed by a project manager enhances the existing
efficiency of the business concern.
SMART GOALS
Specific-Goal of this product launch is to create competitive advantage over the external market
competitors on the basis of unique technology adopted by an entity which is reflected in terms
of product launch by firm.
Measurable-Analyse the profitability of current product in relation to the existing market share
capture by this product in the future.
Achievable- The success of current project will be identified by a project manager by
comparing its existing product and new product in order to identify all the gaps found in both
the products. This evaluation will be helpful for an entity in order to achieve all the targets and
aim within a given span of time.
Realistic- Objectives framed for a particular project are not vague as their identity will be
judged in relation to various parameters used by an entity owner. Goals and the objectives
develop by a project supervisor are not imaginary as this is related with the existing
performance of an entity.
Timely- Time scale of current project will be determined in advance in the initiation of project
as this would help in achieving all the targets in short span of time.
Exclusions
 Existing product's share will be ignored
 Competition faced by an entity on other business segments
Deliverables
 Launching new product in the market with new branding, grading and labelling
 Offering new pricing policy
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 Gathering large number of people through promotional campaigns.
Constraints
 Heavy competition in the existing industry
 Price sensitive customers created difficulties for the business
 Licensing and permission required for launching new product in an existing
environment
Team members
 Project head
 Technical supervisor
 Task allocator
 Researcher
 Budget monitor
 Strategy analyst
Q.1 (B) Identifying the manner in which project structure is related to the existing one of an
organization
By delegating the roles and responsibilities among the individuals project manager has made
efforts in relation to accomplishing projects on time by preventing the level of duplication.
QUESTION 2
Q.2 (a) Presenting the work breakdown structure
In project management, work breakdown structure is regarded as one of the important
approach that helps an individual in allocate all its resources appropriately among all the
personnel. Resources are allocated in order to achieve the desired aims and targets within a given
span of time. Complex project activities will be managed properly as they are displayed in form
of structure in which parent child relationship will be created among al he activities covered in a
project (Aregbeshola, 2016). Various activities falls under the category of planning will be
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helpful for an entity in focusing on the accomplishment of al the activities. Hierarchical
relationship formed between all the activities related with the given project as their common aim
is to achieve all the desired aims and targets within a given time span. Every project manager
prepared this structure that guides their action in order to mould their project in a right direction
as this defines al the responsibility of an entity in a proper structure. WBS structures are created
by an entity that emphasises on the role of all the team members in a team that will be able to
generate quality oriented deliverables from this particular project. Project activities are majorly
includes involves planning, implementation and closure stage. Various activities are segregated
into all these three major sections in each and every project.
In the current case scenario, Projects are developed for launching a new product in a
market that will satisfy all the needs and expectations of al the external market users. Several sub
activities will be created under planning stage will inspire all the users to the current project in
order to generate higher outcomes from this project. Deliverables of a project is regarded as the
basic motivation for an individual that helps in improving their existing conditions.
Work Breakdown structure
Table 2: Activity plan
Activities Task Time duration Preceding Costs or expenses
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Launching fresh juice in the market
Idea and
screening
Testing
Designing
features of
the product
Develop
ment of
prototype
Launchi
ng
prototy
pe in
the
market
Taking
feedback
from
custome
rs
regardin
g
prototyp
e
Launching fruit juice
Organizing marketing
campaign
Monitoring and controlling

Planning stage
2317
A Generation of
idea through
market research
20 days - 250
B Screening of idea
in relation to
launching the
fresh fruit juice in
the market
10 days 1 163
C Testing of idea 15 days 1,2 264
D Business
analytics
12 days 2,3 362
E Marketability test
regarding fresh
juice launching
8 days 3,4 452
F Technical review
for feasibility
assessment
9 days 4,5 426
G Assessing
features of
products
7 days 5,6 240
H Creating
prototype product
for the purpose of
35 days 6,7 160
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testing
Implementation Stage
880
I Introducing
sample product in
the market on a
selected people
20 days 7,8 560
J Taking feedback
from target
audience
regarding the
testing of fresh
fruit juice
8 days 8,9 320
Closure phase
1800
K Making changes
in fruit juice as
per the customer’
s needs, wants
and expectations
12 days 9,10 156
L Finalization of
fresh fruit juice
product.
10 days 10,11 632
M Doing marketing
campaigns for
developing
6 days 11,12 463
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awareness among
the customers
N Launching
product in the
market
2 days 12,13 360
O Monitoring
success and
taking corrective
actions.
6 days 13,14 189
Summation of costing 4997 GBP
Above activity has created in order to help a project manager in order to achieve all its
desired market aims and targets within a given span of time. The action of project manager will
be guided with the help of project activity plan through which Gantt chart or network diagram
will be created (Bronnenmayer, Wirtz and Göttel, 2016). Critical path analysis will be used by an
individual due to which overall tie duration of this particular project will be identified. Duration
of a project is essential to be know by a person as the product launch is regarded as the big
decisions which needs to be completed in short span of time. It is important to complete a project
in less time in order to get higher competitive advantage over its external market users.
Gantt chart
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Illustration 1: Gantt chart
Gantt chart prepared in a project is to reflect each and every activities in a project in order
to accomplish them within a given span of time. Activities are displayed in a chronological order
in order to help all the users associated with a particular project in improving the existing
performance of an entity. Gantt chart shows the completion of all the activities in a given order
to help a project manager in order to invest their time in more suitable aspects covered in a
particular project. Role of an entity is to ensure the completion of a project as time will be saved
by an individual by emphasises on the important aspects rather than unnecessary aspects incurred
in a particular project.
It can be evident from the above figure that systematic arrangement of all the activities
have done in the current project which is all about following all the activities in a business.
Products are developed in order to help an enterprise owner in order to target large number of
audiences in the external business environment as the external market user's needs are fulfilled
by the current project (Norouzi And Albadvi, 2016). Project deliverables are analysed in relation
to the external market needs as this will inspire them in generating higher sales and the revenue
over a certain period. Quality of all the information produced from a project will be regarded as
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the best suitable for an entity as this will help in targeting higher people that creates additional
value for an entity.
Critical path
Illustration 2: Network diagram
Network diagram is visual diagram reflects the completion of all the activities and tasks
in a given project. Critical path is one of the segment covered in the network that cat like rational
actor for an individual as the existing performance of overall project is highly depends on the
critical path. Time duration of a particular project will be easily traced out by an entity using
critical path. This helps an entity in order to invest its time on all the important tasks in an
organisation as this helps in increasing efficiency of an entity as how effectively they can
generate revenue fir an entity. In the above project, total time required to complete the product
launch of an entity is 20 days+10 days+15 days+12 days+8 days+9 days+7 days+35 days+20
days+8 days+12 days+10 days+6 days+2 days+6 days that is in total this project requires 170
days. Time required in completing a particular project is higher that needs to be reduced as in
this way an entity will deflate its overall time to be wasted on less important things as product
launch project needs to be reduced as if an entity take time then its competitors will contract its
current market share by creating its own segment in the similar market for long period. Project
management tool is used to ensure higher productivity of an entity over a certain period by
emphasises on the desired aims and targets of an entity.
Q.2 (b) Presenting the rationale for determining work packages
In project, work packages provide assistance to the manager in assessing the steps which
are independent from work process. Hence, the main reasons behind undertaking work packages
are to group all the interlinked tasks within a project. Thus, by developing work packages
activities of project can be broken down in an appropriate manner. By taking into account all
such aspects, manager of Morrison would become able to develop suitable WBS.
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Q.2 (c) Stating the importance of WBS in the planning process
WBS provides high level of assistance in reducing the level of complexity from the wide
range of tasks. Such structure helps in measuring the independent tasks on the basis specified or
defined limits. Further, WBS facilitates effectual allocation of cost because in this manager
allocates budget to the defined packages. In accordance with such aspect, by making evaluation
of actual performance in against to the set standards manager can take corrective measures on the
basis of deviation assessed. Further, WBS includes wide range of aspects such as schedule,
scope, function and responsibility. Thus, by developing specific schedule, determining scope and
assigning responsibility manager of Morrison would become able to launch product within the
suitable time period. This in turn makes contribution in the attainment of aim to the significant
level. By considering all such aspects it can be said that WBS is highly significant which in turn
helps manager of Morrison’s in launching fruit juice in the market successfully.
Q.2 (d) Project manager’s skills
For the preparation of WBS, project manager of Morrison must have knowledge about
the activities which needs to be performed. Along with this, project manager should also have
skills in relation to making estimation of time required to carry out each activity. Thus, all such
skills an individual or project manager of Morrison’s must have for launching the project
successfully.
QUESTION 3
Q.3 (a) Estimating the requirement of resources for the concerned project plan
Resources are regarded as one of the important aspects in a project as without the use of
appropriate resources an entity will not able to complete its project with higher accuracy.
Resources in a project is act like fuel that helps an individual in order to reach its desired
destination. Different kinds of resources available with a user that are used according to their
needs and expectations (Langstrand, 2016). Several kinds of resources used in an organisation
used in various projects as the successful completion of a particular projects depends on the
appropriate use of variety of resources in a project.
Resources requirement
Financial resources are basic resource to be used in every project as it increases the overall
productivity of a project. Completion of all the activities in less time period can be easily ensure
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by a project manager in relation to the use of finance as an important resource in a project. Total
amount worth of 4997 GBP will be needed from initial to closure of the current project.
Human resources which are required to implement the project. There are 2 project managers, 4
team leaders and 20 employees are required. Hence, total 26 number of human resources will be
needed to carry out present research and complete the project.
Raw material and inventory which are required to manufacture the final goods to satisfy
customer needs and wants. Raw materials and inventory which required are like 78 units.
Hardware and software are required to keep the proper records of information and analyse the
data to find the performance of the organisation. 2 hardware and 5 software will be needed to
complete the present project.
Various methods that can be used by an individual in order to identify the current resource
requirements in completing a project by satisfying all the user's needs and expectations.
 Expert judgement method is that approach under which skills and capabilities of
a particular person will help in determining the number of resources used in a
project. Skills of a user is important as highly skilled employees doesn't require
basic materials to be involved in a project which in turn saves the existing cost
resources.
 Project management software- Resources to be used in a particular project will be
easily analysed with the help of this specialised software. In this software work
breakdown structures are prepared by an individual will analyses the current
material requirement. Time of a project user will get saved with the application
technique in which resources are easily tracked by a person without using
complex procedure of identifying the existing resource requirement of an entity.
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Activity Durations:
20 days+10 days+15 days+12 days+8 days+9 days+7 days+35 days+20 days+8 days+12
days+10 days+6 days+2 days+6 days = 170 days
Q.3 (b) Presenting the budget that reflects cost associated with the delivering of work package
Budget
It is regarded as that statements prepared by an individual that covers all important kinds
of costs incurred in a project. Costs is a basic concern for a business that needs to be identified
by the management in order to increases its current sales and the revenue. Cost reduction
strategies will be created by an entity owner whose desired motive is to emphasise on the quality
of services offered by the firm. Fixed as well as variable costs incurred in business will be raced
by an enterprise at initial stage as cost identification is regarded as the basic step in a particular
project.
Budget prepared by an entity by including singular costs of all the activities included in a
particular project will be helpful for a project manager in order to improve its existing
performance (Barrera-León and et. al., 2016). Role of an entity gets increases when the project
will be completed in less span of time in order to increase its value in front of all the users lies in
the external market.
Cost estimation and cost budgeting
Table 3: Budget
Activities Amount
Market research £1200
Product creation £2000
Assessment of customer's needs £1500
Pilot survey £500
Executing plan £600
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Closure checklist £400
Total £6400
Existing costs incurred by an entity will be deducted from the current cash available with
a person in order to determine the current cash flow. Cash flow generated by an individual from
its project will increase the current quality of all the services offered by an entity with the
completion of current project.
Q.3 (c) Stating the key skills of project manager
For the preparation of suitable budget, project manager of Morrison’s must have ability to
appropriate estimation of fund which is required to perform activities more effectually. The
rationale behind this, both under and over estimation of cost closely influences the success of
budget. Thus, manager must have ability to develop competent financial plan.
QUESTION 4
Q.4 (a) Risk identification and assessment
Risk register is document which is updated after a specific interval throughout the life
cycle of the product. It includes list of risks and its potential responses based on the level of
risks.
For the new product, risk register can be made in following manner:
Table 4: Risk register
Risk Factors High Medium Low
Availability of finance
Level of demand of
the project
Attraction of the
investors
Safety
Customer demand
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Availability of the
resources
Based on the above risk register, it can be ascertained that, the risk involved in
availability of finance is high. The company can face struggle while opting for various finance
options (M, 2016). The risk involved in level of demand and demand of the customer is medium
which is a good indicator for the company.
It may be difficult for the company to attract investors in the product and hence risk level is high.
Based on safety and resource availability, risk factor is quite low, which shows that the company
will face no problem while making available these factors.
Q.4 (b) Stating the extent to which risk management is essential and helps in assessing the same
There are various risk identification techniques which can identify the risk involved in
the product. Some of them are listed below:
 Brain storming: A group of people sit together in order to discuss the pros and cons
involved in producing the products. It helps to generate various ideas for identification
and assessment of risk.
 SWOT Analysis: According to this technique, strength, weakness, opportunities and
threats are evaluated to determine the risk in each slot.
 Assumption analysis: The different assumptions that are considered for producing the
product are evaluated in order to ascertain the risk.
 Delphi technique: According to this technique, members of the team are consulted
anonymously where lists of required information is sent to experts, responses are
compiled and results are evaluated to calculate the risk.
Risk identified are as follows:
 Scope: it analyses the risk associate with the current project result and how the goals are
to be achieved.
 Time: Weather the project will be finished on time or not and if not than losses
organisation need to bear.
 Cost: the budget is prepared, if the implementation of budget cross the budget that risk
will arise.
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Along with this, there are some risks and constraints are also involved with the project
which are like safety, protection, quality, history of previous years etc.
Q.4 (c) stating the skills that are required by the manager for managing project in a successful
manner
In order to carry out project successfully, manager must have skills in relation to assessing all
the risks that are associated with the project. Moreover, without having suitable risk register it is
not possible for the manager to carry out project in the right direction.
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