Astra Plc Project Report: Analysis of Plan, Scope, Risk & Success Rate

This report analyzes Astra Plc's business project, focusing on their plan to introduce a new fitness and health application. It details the project plan, including stakeholder identification, goal prioritization, deliverable definition, and risk assessment. The scope of the project is discussed in relation to the current health-focused market, highlighting the potential reach through social media and influencer marketing. The report identifies potential risks such as cost, time, communication, resources, and technology, and suggests strategies to mitigate them. Finally, it assesses the success of the project based on factors like project schedule, application quality, cost management, stakeholder satisfaction, and overall business performance. The report concludes that a well-executed project plan is essential for achieving better success and performance, improving team communication, and ensuring effective resource utilization. Desklib provides access to similar solved assignments and past papers for students.

Project

Table of contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................3
Project plan.............................................................................................................................3
Project Scope..........................................................................................................................3
Project Risk............................................................................................................................3
Success of project...................................................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
A business project is a project mostly intended to accomplish the objectives of a business. It
includes an overview of business methods, planning, goals, process and many more. It is an
important part of any organisation because it ensures that what is being offered, what is suitable
for business and will provide real based values against the opportunity of business (Keung and
Fok, 2021). The below report is based on Astra Plc, which are a small based firm and company
supply vitamin or mineral food supplements. The company wants to diversify their portfolio by
introducing the new fitness and health application in the upcoming three months. The below
report includes the project plan, its scope, risk and success rate of a project.
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MAIN BODY
Project plan
It consists of the work statement net, list of resources, work breakdown structure, risk
plan, project schedule, etc. In context to Astra plc, they need to identify and meet with their
stakeholders after that company require to set and priorities the goals as per market demand for
supplements. A company need to define the deliverables after that they need to create a project
schedule which is suitable for new idea or launching their application . It is important to identify
it the problems and finish a risk assessment of new plan. At final stage company need to present
nt their plan to the stakeholders to take final approval from them. Project plan is essential part for
make a rough idea in mind so that they can estimate their success rate (RESA, 2021).
Project Scope
It is a part of project plan that is consider determining or documenting the list of particular
goals of project, features, functions, tasks, deadline and price of product. In context to Astra plc,
they have wider scope in market of their project plan because in current scenario every one is
more focused towards their health and most of the people taking different supplements for their
health so that they can give each vitamin and mineral to their body for better fitness. Through
their application they can reach different people from the various locations. For design of app
they need make an attractive theme which is related to the health and fitness, the cost of app is on
average scale which is minimum $5,000 and maximum is $ 10,000. Company need to adopt
some social sites such as instagram and company can mention their link of application at each
source where they communicate with people. Social media have higher reaching rate in market
so that they can hire some influencers and ask them to promote their application. Because
celebrities and influencers have great fan following on every social media sites and people have
faith on them. In current scenario e society Is highly active on social media platforms and they
attract too fast which are on going in trend (Denisova, 2021).
Project Risk
It is defined by the PMI an uncertain event and situation that it occurs that it has positive
and negative impact on the objectives of business. In context to Astra company they may face
different risk in their plan that are cost risk because if they have less capital then application not
prepare as per expectation, time risks, company need to introduce their application with in set
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time frame so that people have excitement for their application. Communication risk, it is most
important to communicate with customers for their experience with them, demands and future
needs so that they can full fill their needs and retain them for longer period of time. Resources
risk, some times as per needs resources are not available for business for resources they need to
wait or arrange form different sources. In context to this company they have all resources for
their application. Technology risk, some times internet server are very down and customers are
enable to use websites and applications so that astra need to foua on good server and adopt a
good software so that there is no issues while using the application and customers can use in
smooth manner. Company need to focus on latest technology to avoid the any type of risk in
their business (Novikov, Komarova and Dadyan, 2021).
Success of project
Project success rate is depend on project plan and execution of that plan. In context to Astra
company, their success rate will be on higher rate because through the application there become
more easy to reach the potential people and meet their needs or expectations. In society people
are very focused about their health and mostly people are order through online platforms which
are most popular and this company will introduce their own application so that it become more
easier for customers to order directly on app as per their requirements. They can measure their
success by using some tools so that they can estimate their performance rate and know about
success rate in future. There are five ways which are helps in measuring the success that are
schedule of project, quality of application, overall costing, stakeholders satisfaction and business
project performance (Wang and Huo, 2021).
CONCLUSION
It is concluded the above report, business project is most essential part for company for
achieve better success and performance rate of company. Through project plan company can set
their targets and goals which they want to achieve in less time frame. Project plan helps in
boosting the performance and success rate of project. It saves lots of money of business, through
this company can improve their team communication and understanding level. It ensures the
effective use of resources for business in right manner. Through this it become more easy to
track the goals and results. Through this company can retain the existing employees for longer
period of time and proper planning drives the performance.
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REFERENCES
Books and journal
Denisova, A.I., 2021, March. Assessment of Options for Substantiating an Infrastructure Project
Implementation Plan in the Presence of Associated Risks. In IOP Conference Series:
Earth and Environmental Science (Vol. 666, No. 6, p. 062075). IOP Publishing.
Keung, C.C. and Fok, W.H., 2021. The Application of BIM in the Undergraduate Course
“Integrated Building Project Development”. In EASEC16 (pp. 2119-2128). Springer,
Singapore.
Novikov, S., Komarova, N. and Dadyan, K., 2021. Plan Development to Transform an Ordinary
Project Group into a Network Structure. Calitatea, 22(181), pp.58-63.
RESA, C., 2021. Section 4: Project Plan, Procedures, Goals, Objectives, and Support.
Wang, H. and Huo, A., 2021. The Design Path of the Project Income Dividend Plan of the State-
owned Technology Enterprise. In E3S Web of Conferences (Vol. 235, p. 03066). EDP
Sciences.
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