Project Management | Whirlpool
28 Pages6109 Words423 Views
Added on 2019-09-19
Project Management | Whirlpool
Added on 2019-09-19
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Running Head: Project ManagementPROJECT MANAGEMENT[Document subtitle]
Project Management1Table of ContentsIntroduction...............................................................................................................................................2Analysis of NPD strategy..........................................................................................................................4Evidence of Time Management Data Gathering, and Reporting Techniques....................................12Identifying appropriate project management technique..................................................................12Project Plan..........................................................................................................................................13Work Breakdown Structure...............................................................................................................18Gantt chart...........................................................................................................................................19Project Awareness regarding social, economic, and environmental issues.........................................20Financial Benefits of choosing methodology......................................................................................21Social Implications...............................................................................................................................22Political Implications...........................................................................................................................22Environmental Implications...............................................................................................................23Conclusion................................................................................................................................................24References................................................................................................................................................26
Project Management2IntroductionIn this paper, I considered that I am working with a washing machine manufacturing organization named as Whirlpool. Whirlpool is an international organization which operating in different countries. Washing machines play an important role nowadays. It makes the life of a human being easier and effective. In this paper, a new brand of washing machines is taken to launch it in the growing market of UK. Overall description of the new product development strategy and social, economic, and environmental issues are provided in this paper. This has beendone under the light of certain theories and concepts of the project and New product Development Strategy. A washing machine is considered a machine that is used to wash laundry like clothing and sheets. If there is an aspect of daily life that has changed little in the last some decades, it is the method of washing clothes (Gopalakrishnan, 2015). Before 25 years, first of all,clothes were washed, and then dried, and at last iron, before they can be worn. These all processes of washing clothes consume a lot of efforts and time of human beings due to which they feel bored and irritated. The main motive of this project is to introduce a new washing machine with a large number of features like bigger washing capacity, active water, pre-activatedspeed perfect, Vario drum, Iron facility, AntiVibration Design, and reload functions. The combination of all these features makes the launching washing machine successful in the UK Growing market. Washing machine in the market of UK has obtained great success.UK Washing Machine Market TrendLaundry Appliances in the UK has achieved tremendous growth in both value and volume terms.It happens due to the enhancement of the construction activity in the UK. Stoppage in
Project Management3construction growth also slows down the growth of laundry appliances. The growth rate of smart washing machines in the UK can understand by looking below-mentioned figure:(Panaretou, 2014)Washing Machines growth size in the UK estimated 5% till 2018. The growing demand for the washing machines is expected to provide impetus to the growth of the industry. Washing machine market growth totally depends on the innovation.In a similar manner, a new brand of the washing machine is introduced with the highly innovative features so that monopoly can gain in the existing machine market of US. Washing machine in the UK market launches with the effective new product development strategy to maintain its profitability and efficiency. Choice of New product development strategy enables the success of washing machines in the UK market in a great manner. In this paper, we will
Project Management4discuss the complete project plan of the launching new brand of the washing machine in UK market (Kefalas, 2014). This has been done by considering the different failure and success criteria of the project. Apart from this various project principles are also applied to accomplish it with the determined specifications. Project principles in the paper work as guidelines which provide effective guidance in accomplishing project as per specific timeline and budget schedule.Analysis of NPD strategyNew Product development is considered the process of introducing a new product in the market. In addition, it is also known as a process of transformation of a new market opportunity for a product available for sale. Washing Machine in the UK market can launch by adopting a suitablenew product development strategy. There are a large number of new product development strategies which are taken into consideration before launching the new brand of the washing machine in the UK market. Efficiently of new product development strategy enhance the quality of the washing machine and can satisfy the target consumers in more efficient manner. Furthermore, it is being observed that there are various alternatives for the approaches which might be considered for the development of the new product. These approaches can be relied on team as it focuses on bringing the individuals together from the distinct departments, customer centric which supports the customers in order to resolve the issues, systematic which ensures thatthe process of the development of product moves forward in a systematic way, etc.There are following new product development approaches which can take into consideration before selecting the best one for washing machine development:1.Innovation Diamond
Project Management5There are a large number of organizations suffering from the challenges of new product development and keep them on pace with the dynamics of technology, markets, and competition.Innovation diamond approach of new product development strategy is a combination of four different stages which understand by looking the below-mentioned figure (Genç, 2015):Product Innovation and Technology strategy for the Business: It is a first and the foremost stage of the innovation diamond. According to this stage, it is necessary for any organization to formulate product innovation strategy before planning anything else aboutthe product. Innovation plan should contain the market entry strategy and different other necessary information like marketing plan, and target customers, etc. At this stage, it is necessary for the company to think whether the product which it is going to introduce is a
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