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Assignment on Product Development

   

Added on  2021-06-17

19 Pages2754 Words32 Views
Running head: PROJECT MANAGEMENT Project Management: New Range of Premium Soups Development and MarketingName of the student:Name of the university:

1Project managementPROJECT MANAGEMENTIntroduction This report depicts the role of product development and its marketing requirements fornew range of canned products for major food manufacturers. It is important for the developers toconsider all necessary components to produce such range of products. In this case the nominatedproducts that will be produced for the major food manufactures are new range of premiumcanned soups. In order to develop such products a professional project team is to be createdbased on their skills, knowledge and experience. A PESTLE analysis should be conducted to understand the internal and externalcompetitive market including an accurate project plan, Work Breakdown Structure (WBS) andGantt chart. During the marketing of the products proper research and development session isalso conducted by the project development team members. In addition to this, a risk managementstrategy, RACI matrix for conducting professional communication and a stakeholdermanagement strategy for the project stakeholders are also developed and elaborated in thisreport. It is expected that if all of these criteria are maintain accurately then the producercompany and the R&D team both will be equally benefited. 1. PESTLE analysis for the projectThe aim of any food producing company is to deliver quality products to the consumerswithin estimated time and affordable price. Additionally, the tastes of the products are alsorequired to be unique and delicious to grab new consumers and to retain existing customers. Thedevelopers will be producing premium soups for major food manufacturer thus an accurateexternal analysis in terms of PESTLE analysis is illustrated in this report.

2Project managementPROJECT MANAGEMENTPolitical: Political factor plays significant and active roles for determining the factorsthat may impact the canned soup manufacturer ling terms benefit in a certain market. The soupmanufacturers are operating in processed and packaged products in many countriessimultaneously for exposing themselves in various political system risks and environment.Before entering to the producing function the followings are the components on which the R&Dshould focus include:Political stability and importance of the processed and canned soup in theeconomy of the countryProtection for the intellectual propertiesAll favored business partners Consideration of mandatory employee profitTax rates and incentives Regulation for different flavored soup products Trade regulations and customer’s related tariffEconomic: The macro ambiance factor in terms of the inflation rate, rating rate, foreignrate for exchange as well as economic cycle are the collaboratively demand and aggregates thedemand and investment in an economy. If the micro environmental factors impact thecompetitive advantages then the economic factors of the country in terms of growth rate,inflation can be eventually used. The factors those will be examined by the economic analysisinclude the following:Rate of inflation and interestRate of unemployment, discretionary income

3Project managementPROJECT MANAGEMENTLabor cost and economic productivitySkills within the workforce and business cycle stagesPoliticaleconimicalsocialtechnicallegal Environmantal 012345678910Figure 1: PESTLE analysis(Source: created by author)Social: The societal culture also impacts the canned soup products research anddevelopment and its delivery to major food manufacturers. The factors those should be measuredfor the social analysis include:The level of skills and demographics of the populationThe hierarchy of the class structure, hierarchy and power structure The leisure interest The attitudes in terms of health and environmental consciousness and culture likerole of the members

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