Project Status Report Analysis

This assignment involves analyzing a detailed Project Status Report. The analysis covers aspects like budget allocation, resource distribution, overall project cost, remaining costs, and identified risks. The student reflects on the learnings gained from the project and identifies areas for improvement in future projects.

Running head: PROJECT STATUS REPORT
Project Status Report
Name of the student
Name of the university
Author note

1PROJECT STATUS REPORT
Executive Summary
This project has highlighted the status report for a new product development process in Tesco
PLC. The project status report consisted of the status about the different tasks that have been
completed and the remaining tasks in the project. The report will facilitate in identifying the
different the various risk factors and shortcomings in the projects so that the overall operational
efficiency can be improved. The board of directors to identify and implement the necessary
changes in the project have reviewed the report. The conclusion drawn from the Project Status
Report states that 19% of the overall project had been completed. The status report had been able
to provide with valuable insight on budget allocation, resource allocation, overall cost and
remaining cost of the project. The analysis of the project status report highlights the problems in
resource allocation and cost of the project. However, nothing had been done about the projects
that have already been in completed. The risk factor in different stages of the project had been
identified so effective measures can be taken.

2PROJECT STATUS REPORT
Table of Contents
Introduction......................................................................................................................................3
Background of Tesco PLC...............................................................................................................3
Project scope....................................................................................................................................4
Project objectives.........................................................................................................................4
Project deliverables and milestones.............................................................................................5
Project progress and performance...................................................................................................9
Issues..............................................................................................................................................17
Budget Status.................................................................................................................................19
Risk review....................................................................................................................................21
Project and personal reflection......................................................................................................21
Conclusion.....................................................................................................................................21
References and Bibliography.........................................................................................................22

3PROJECT STATUS REPORT
Project Name: New product development process in Tesco PLC
Project End Date: 30/08/2019
Introduction
This project will highlight the status report for a new product development process in
Tesco PLC. The project status report will consist of the status about the different tasks that have
been completed and the remaining tasks in the project. The report will facilitate in identifying the
different the various risk factors and shortcomings in the projects so that the overall operational
efficiency can be improved. The board of directors to identify and implement the necessary
changes in the project will review the report.
Background of Tesco PLC
Tesco PLC is the market leader in the grocery and fresh food industry in the United
Kingdom. The organization has been known for their unique products and the facilities they
provide to the consumers for improving the consumer experience. It is the one of the largest
retailers in terms of revenue generation and has majority of share in the market. The
organization has diversified their product line by including variety of products (Tesco plc, 2018).
They have emphasized on providing the consumers with high quality product and have expanded
their operation in different countries. United Kingdom grocery market is saturated so continuous
development of new product is essential for maintaining competitive advantage. Therefore,
Tesco is launching this product to improve their market share.

4PROJECT STATUS REPORT
Project scope
According to Pheng, (2018), project scope is one of the essential part of project planning
which will determine the specific tasks, deliverables, costs, deadlines, goals and resources. Thus,
every project scope will have a distinctive projective objective, deliverables and milestones that
will be the essential factor of managing the project in an effective way. The project scope will
determine the limitation of the project and effectively divides the responsibilities to achieve the
desired goal. In this current study, Tesco PLC, in United Kingdom to increase their sales
volumes will launch new product. The project deliverables and milestones have been determined.
The report will provide status about the completion of activities up to a given point of time to
analyse the progress and various hindrances.
Project objectives
The objectives of the project are mentioned as follows:
 Identification of current trends in the technology industry
 Identification of requirements for developing a new product
 Evaluation of requirements to develop a suitable product
 Testing the products for identifying the change required
Project Status report objectives
 Evaluation of the status report till the mentioned date
 Identification of all the risk factors in the discussed project
 Calculation of budget status, project status and cash flow

5PROJECT STATUS REPORT
Project deliverables and milestones
As stated by Chow, Woodford & Lambe, (2014), project deliverables are the specific
tasks involved in the overall project management process. The each of the tasks defined in a
project can be defined as the deliverable of the study. A project is divided in to various stages
and each of the stages consists of multiple deliverables. A milestone will consist of group of
tangible tasks performed in order to fulfil a particular stage. In this current project there are five
stages and completion of each of the phases is followed by a milestone which signifies
completion.
Task Name Duration Start Finish Predecessors
Product Development Status
report
474 days Tue 11/7/17 Fri 8/30/19
Analysis of consumer
requirement
40 days Tue 11/7/17 Mon 1/1/18
Analysis of current trends 30 days Tue 11/7/17 Mon 12/18/17
survey and questionnaires 15 days Wed 11/15/17 Tue 12/5/17 2
Collecting product
requirements
10 days Wed 12/6/17 Tue 12/19/17 3
Development of the official
document
15 days Wed 12/6/17 Mon 1/1/18 3
product specification 10 days Wed 12/6/17 Mon 12/25/17 5

6PROJECT STATUS REPORT
Milestone 1: Completion of
consumer requirement
0 days Tue 12/19/17 Tue 12/19/17 6
New product design 45 days Wed 12/20/17 Tue 2/20/18
Evaluating the
specifications
20 days Wed 12/20/17 Tue 1/16/18 7
Argument development for
the project
15 days Wed 1/3/18 Fri 1/26/18 9
Product design in terms of
given specification
25 days Wed 1/17/18 Tue 2/20/18 9
Milestone 2: New product
designed
0 days Tue 2/20/18 Tue 2/20/18 11
product development 325 days Wed 2/21/18 Tue 5/21/19
prototype development 125 days Wed 2/21/18 Tue 8/14/18 12
market testing 60 days Wed 8/15/18 Tue 11/6/18 14
reviewing respondent
opinion
20 days Wed 11/7/18 Tue 12/4/18 15
implementing the necessary
changes
30 days Wed 11/7/18 Tue 12/18/18 15
product integration into the 20 days Wed 12/19/18 Tue 1/15/19 16,17

7PROJECT STATUS REPORT
business model
Developing the final product 90 days Wed 1/16/19 Tue 5/21/19 18
Milestone 3: New product
developed
0 days Tue 5/21/19 Tue 5/21/19 19
Product Testing 45 days Wed 5/22/19 Tue 7/23/19
Road shows and Test
marketing
20 days Wed 5/22/19 Tue 6/18/19 20
Analyzing the feedbacks 15 days Wed 6/19/19 Tue 7/9/19 22
testing performance 10 days Wed 7/10/19 Tue 7/23/19 23
Milestone 4: Completion of
product testing
0 days Tue 7/23/19 Tue 7/23/19 24
Product Review 28 days Wed 7/24/19 Fri 8/30/19
evaluating success of the
product
5 days Wed 7/24/19 Tue 7/30/19 25
identifying required changes 3 days Wed 7/31/19 Fri 8/2/19 27
implementation of changes 20 days Mon 8/5/19 Fri 8/30/19 28
Milestone 5: Product launched 0 days Fri 8/30/19 Fri 8/30/19 29

8PROJECT STATUS REPORT

9PROJECT STATUS REPORT
Gantt chart

10PROJECT STATUS REPORT
Date of Status report: 12/1/2018
Project progress and performance
Milestone report
11/7/171/24/184/12/186/29/189/15/1812/2/182/18/19 5/7/19 7/24/19
0
5
10
15
20
25
30
Remaining Tasks Remaining Actual Tasks
Critical Task completion
Name Start Finish %
Complet
e
Remaining
Work
Resource Names
Evaluating the
specifications
Wed
12/20/17
Tue
1/16/18
90% 112 hrs product analyst,
product
developers,
Human resource

11PROJECT STATUS REPORT
manager,
marketing
manager,
operational
manager, Project
manager, finance
manager
Product design in terms of
given specification
Wed
1/17/18
Tue
2/20/18
0% 1,400 hrs product analyst,
Project manager,
product
developers,
Human resource
manager, finance
manager,
marketing
manager,
operational
manager
Milestone 2: New product
designed
Tue
2/20/18
Tue
2/20/18
0% 0 hrs
prototype development Wed
2/21/18
Tue
8/14/18
0% 5,320 hrs product analyst,
Project manager,
product
developers,

12PROJECT STATUS REPORT
Human resource
manager,
marketing
manager,
operational
manager, finance
manager
market testing Wed
8/15/18
Tue
11/6/18
0% 3,360 hrs product
developers,
Human resource
manager,
marketing
manager,
operational
manager, product
analyst, Project
manager, finance
manager
implementing the
necessary changes
Wed
11/7/18
Tue
12/18/18
0% 1,680 hrs Project manager,
product
developers,
Human resource
manager,
marketing
manager,

13PROJECT STATUS REPORT
operational
manager, product
analyst, finance
manager
product integration into the
business model
Wed
12/19/18
Tue
1/15/19
0% 1,120 hrs product
developers,
Human resource
manager,
marketing
manager,
operational
manager, product
analyst, finance
manager, Project
manager
Developing the final
product
Wed
1/16/19
Tue
5/21/19
0% 5,040 hrs product
developers,
Human resource
manager,
marketing
manager,
operational
manager, product
analyst, finance
manager, Project

14PROJECT STATUS REPORT
manager
Milestone 3: New product
developed
Tue
5/21/19
Tue
5/21/19
0% 0 hrs
Road shows and Test
marketing
Wed
5/22/19
Tue
6/18/19
0% 1,120 hrs marketing
manager,
operational
manager, product
analyst, Project
manager, Human
resource manager,
product
developers,
finance manager
Analyzing the feedbacks Wed
6/19/19
Tue 7/9/19 0% 840 hrs finance manager,
marketing
manager,
operational
manager, product
analyst, Human
resource manager,
product
developers,
Project manager
testing performance Wed Tue 0% 560 hrs marketing

15PROJECT STATUS REPORT
7/10/19 7/23/19 manager, product
analyst, Project
manager, finance
manager, Human
resource manager,
operational
manager, product
developers
Milestone 4: Completion of
product testing
Tue
7/23/19
Tue
7/23/19
0% 0 hrs
evaluating success of the
product
Wed
7/24/19
Tue
7/30/19
0% 280 hrs finance manager,
marketing
manager,
operational
manager, product
analyst, Project
manager, product
developers,
Human resource
manager
identifying required
changes
Wed
7/31/19
Fri 8/2/19 0% 168 hrs product analyst,
Project manager,
product
developers,

16PROJECT STATUS REPORT
Human resource
manager, finance
manager,
marketing
manager,
operational
manager
implementation of changes Mon
8/5/19
Fri 8/30/19 0% 1,120 hrs finance manager,
Human resource
manager,
marketing
manager,
operational
manager, product
analyst, product
developers,
Project manager
Milestone 5: Product
launched
Fri
8/30/19
Fri 8/30/19 0% 0 hrs

17PROJECT STATUS REPORT
9% 5%
86%
Work
Status: Complete
Status: On Schedule
Status: Future Task
Figure: Task status
LATE TASKS
Tasks that are past due.
MILESTONES DUE
Milestones that are coming soon.
PROJECT
OVERVIEW-
% COMPLETE
Status for all top-level tasks. To see the status for subtasks,
click on the chart and update the outline level in the Field
List.

18PROJECT STATUS REPORT
Performance report of the project shows that only one stage of the project has been
completed. As shown in the project overview, only 19% of the overall project have been
completed. However, all the critical task in the project has not been commenced, only one of the
critical tasks has started and 905 of the task has been completed. However, if the tasks are taken
into account, 9% of the tasks have been completed and 5% of the tasks are in progress. This
shows that 84% of the task is remaining and the project i son schedule. However, issues such as
over allocation and slack have been identified in both critical and non-critical tasks.
Issues
Task Name Duration Start Finish Cost
Total
Slack
New product design 45 days
Wed
12/20/17
Tue 2/20/18 $163,440.00
398
days
Argument
development for the
project
15 days Wed 1/3/18 Fri 1/26/18 $52,200.00
415
days
Product design in
terms of given
specification
25 days Wed 1/17/18 Tue 2/20/18 $87,000.00 0 days
reviewing
respondent opinion
20 days Wed 11/7/18 Tue 12/4/18 $69,600.00 10 days
implementing the 30 days Wed 11/7/18 Tue $104,400.00 0 days

19PROJECT STATUS REPORT
necessary changes 12/18/18
The above table shows that different tasks associated with issues where the highlighted
tasks have been over allocated and argument development has a slack period of 415 days. Thus,
this is a very big issue for the project as other task are dependent on the completion of this task.
This issue is unnecessarily increasing the overall project cost and time span of the project.
Similarly reviewing the opinion of the respondents has a slack period of 10 days, which also
shows that other task can be performed during this period. Moreover, this tasks are non critical
tasks where unnecessary resource and time should not be spent. The project manager will have to
look into this issue so that the overall cost and operational efficiency can be increased. The
operational, manager, marketing manager, finance manager, project manager and human
resources manager has been over used in the project. The presence of these managers is not
required in all of the tasks and better management of resources is required.