Project Plan for New Product Development of Premium Soups

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Project plan for new product development of premium soups
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Date of submission

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Project background context
New product development is important in ensuring any business have a competitive edge in the
number and quality of the goods being offered in the market. ‘New product development entails
coming up with suitable, economic, and desirable plan of coming up with a product that meets
the market demand and customer satisfaction’ (Von Zedtwitz, 2014 p. 255-268). In marketing a
good product introduced to the market will depend on the new development process that was
achieved successfully by the project teams. The process requires proper planning and
organization through a suitable presentation. The sponsor contacted the business in order to draft
a project plan for a new development for a range of premium soups. The project plan
development and design process involves establishing suitable techniques, processes and
networks for enabling the organization to produce quality project that will meet consumer needs.
The new product development of the soups is intended to start in a period between may-August
2019. The period will provide a suitable time in which the product is estimated to perform well
in the market. The entire process of new product development is estimated to cost about $25
million during the start and launching of the product in the market. The amount of the budget
was agreed upon by the project sponsors and no exceeds will be desirable. Proper process and
techniques will be put in place in order the budget is utilized well and ensure accountability
measures are taken in consideration. Once the project is complete it is expected to meet the
constraints of time, budget and quality. Project constraints are important aspects in projects that
ensures that customers are satisfied with the final product. The final product will be delivered to
the senior management team representing the sponsorship of the project.
Project execution and delivery
‘The project team will apply project management techniques, methods and tools to ensure that
the project is delivered according to the required specifications and standards’ (McClory, Read &
Labib, 2017 p.1322-1335). The project management approach will be of that of the project life
cycle approach that will entail five stages from beginning to the end. The project plan will begin
with initiation of the idea, conceptualizing of the idea generated, planning, and monitoring and
project closure. The items presented in the project plan will include: a brief project charter,
situational analysis (PESTEL analysis), project scheduling (WBS, Gantt chart), risk management

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(risk register), responsibility management (RACI), project communication (project management
strategy), and project closure. The brief project charter will entail the following outlined parts.
Project goal/objective: the goal of the project is to develop a new range of premium soups for a
period of 6 months.
Project deliverables: the main key deliverables of the projects will entail: generation of the idea,
researching on the product, development of a prototype, testing the prototype, trainings and
communications, launching of the products, and review of progress/performance.
Project budget: the budget will be done according to top down budget methodology based on the
estimated total amount breaking it down to sections. Allocation of costs will be based on the
market prices of inputs.
Project constraints: the project is intended to be done within the constraint of time, budget and
quality.
Project assumptions: the assumptions of the project is that there will be no major changes in
legislative framework or intense competition that will affect the project outcomes.
Project out- frame/in-frame: the project will be concern with only research, manufacturing,
marketing and development of the project. It will not concern itself with sourcing of resources to
support the project.
Acceptance criteria: the project sponsors will sign off on projects that will only meet their
required standards and specifications. This will take place at each phase or stage of the project
life cycle.
Situational analysis (PESTLE analysis)
Launching of the new product will involve carrying out a situational analysis through a
comprehensive research process. ‘The process of PESTLE analysis take place during the
conceptualization stage of a project idea’ (Jones, Lewis, Groomes & Adams, 2015 p.23-56). The
process involve gathering information regarding the project idea by analyzing the environment
components though the process of PESTLE analysis. The PESTLE analysis as illustrated in
(appendix I) shows analysis of the environment components on the basis of the project idea.

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Some of the components that are shown and analyzed included: political, economic, social,
technology, legal, and environmental factors. The factors are used in planning process in
justifying the need of continuing the development and execution of the product. The analysis
showed that some of the factors directly affect the project delivery of the project as indicated in
(appendix I) the management did make mitigation measures and assumptions in order to address
some of the factors. Both these factors provide a positive and negative influence on the project
delivery and it will be worthwhile to review their general effect to the product development. ‘In
brief the PESTLE analysis of the various factors can provide suitable justification and decision
making of the business situation analyses (John Wiley & Sons. Sonavane, Rathi, Patil, 2018
p.25-78). As illustrated on appendix I the following is a summary of items denoted from the
template. Social and political factors were some of the factors that the project team will make
assumptions over them not to occur and affect the outcome of the process. Some of the social
and political factors that can affect the project outcomes include: life styles, leaders influence,
demographic changes. Economic factors were considered well in planning process through
contingency plans in order they do not affect the budgeting process. Some of the economic
factors that can influence the product delivery include: currency changes, market demand, and
price changes. Positively market factors were assessed to establish if whether they would provide
sufficient results. All aspects of legislative process and documentation will be considered to
avoid any conflicts and court battles. ‘Technology will never be ignored in the entire process,
modern and flexible technologies will be adopted in order to provide suitable products meeting
customer needs’ (Hidding & Nicholas, 2017 p.81-95). Proper research will be conducted on the
best technology that will be adopted for production process. The results of a suitable PESTLE
analysis will be suitable in planning process. The product to be developed will ensure that it
complies with environment sustainability best practices that will not pollute the environment.
Project organizing and scheduling
Project organizing (WBS)
‘Project organizing involves the process of dividing tasks, unifying similar tasks into units, and
creating relationships in order to achieve the desired goal’ (Bryde, Broquetas & Volm., 2013
p.971-980). The project team will be using the work breakdown down structure (WBS) as part of
the organizing tool as illustrated in appendix II. The WBS involves the process of dividing the