Strategic Management Project

This project report details the comprehensive plan and execution of launching L'Oreal's Black Charcoal Face Wash in the UK market. It covers project selection, outlining factors contributing to success, including market research, financial analysis, competitive analysis, and target audience identification. The report meticulously details the project plan, including timelines, resource allocation (human, technological, and financial), and the PRINCE2 methodology used for implementation. Progress monitoring and evaluation methods, such as Gantt charts, work breakdown structures, and variance analysis, are discussed. The report concludes with an analysis of project outcomes, comparing actual results against the original specifications and providing recommendations for future improvements in project management practices.

PROJECT DEVELOPMENT FOR
STRATEGIC MANAGEMENT
SUBMITTED BY:-NASHARINABNU YUSUF ABDUL CHOKSI
STUDENT NO:-HE03964
SUBMITTED TO:-KASHIF KHAN
LEVEL:-7
REGENT COLLEGE
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TABLE OF CONTENTS
Introduction..........................................................................................................................................
Assignment 1: Selection of Project......................................................................................................
1.1 Factors contribute for the success of project selection..........................................................3
1.2 Outline of the project specifications for an agreed project of launching L’Oreal Black
Charcoal Face Wash....................................................................................................................5
1.3 Produce a specification for an agreed project to implement a new product, service or
process.........................................................................................................................................6
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INTRODUCTION
Project management in general can be defined as the procedure of managing different
activities to attain desired results and outcomes. To conduct the project in an appropriate manner,
manager should consider varied prospects such as design, analysis and evaluation. In other
words, project management refers to the process of planning, organizing, directing, controlling
and making optimum utilization of available resources to generate the desired aim and objectives
(Kutsch, 2008). According to the present given scenario, investigator focuses on evaluating
varied specifications, strategies and approaches for launching the L’Oreal Black Charcoal Face
Wash. For the same, top level management of L’Oreal has hired management consultant of
Nexus Ltd. who aims at launching the product in effective and efficient manner. Thereafter,
suitable plan will be designed to conduct the whole project so that risks and uncertainties can be
minimized. However, the main purpose of investigator behind carrying out this project is that it
helps the leaders and readers in enhancing their knowledge and skills regarding different project
management tools, financial tools, etc. Considering the level at which L’Oreal operates it is very
important for the consultants of Nexus Ltd. to plan and execute the launching of L’Oreal Black
Charcoal Face Wash in highly attractive and suitable way so that reach towards people can be
increased. Further, various aspects that consultant have to consider so as to carry out whole
project in the best possible manner.
ASSIGNMENT 1: SELECTION OF PROJECT
1.1 Factors contribute for the success of project selection
Aim:
The main aim of the study is to carry out the launch new male segment Black Charcoal
Men Face Wash for L’Oreal in the market of UK with the help of management consultant team
of Nexus Ltd.
Objectives:
 To carry out market research for identification of needs and wants of customers.
 To define the best suitable approach for launching the product within the market of UK.
 To examine the factors that contributes in success of launching Black Charcoal Men Face
Wash.
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 To apply suitable project management technique for successful launch of L’Oreal Black
Charcoal Face Wash
Importance of Project:
The rationale behind selection of L’Oreal Black Charcoal Face Wash is that at present
people are facing problems related to increasing dirt, pollution and oil generated by the
feedbacks of people. Thus, top level management of cited firm plan to introduce such a product
which cover all three aspects. In this regard, L’Oreal Black Charcoal Men Face Wash has been
planned to launch within the market with help of consultancy team of Nexus Ltd..
According to the present given scenario, senior authority of L’Oreal is planning to
introduce new product for which they have hired management consultant from Nexus Ltd..
However, it is the duty of consultant to evaluate and analyze different factors that contributes
towards success and failure of the selected project (Lewis, Pun and Lalla, 2004). Further, it is
essential for the members of Consultant management. to understand the aim and objective behind
the launch of cited product so that suitable and reliable planning and strategies can be framed for
better execution of the project.
 Data Collection Methodology: There are several methods through the means of which data
can collected such as primary and secondary. Herein, primary approach has been used to
collected data regarding the needs and wants of people and identified that they are facing
major issues from increasing dirt, pollution and oil. Along with this, secondary data
collection methods have been used in which online blogs, annual reports; portfolios of
competitors, articles, etc. to generate wide range of valuable and reliable information for
the launch of L’Oreal new product have been chosen.
 Market Research: Survey methodology has been used to carry out the market research in
which top level management of L’Oreal distributing questionnaire to the randomly
selected people and asking about their skin related issues. The main aim of survey
methodology is that it helps in launching product as per the needs and wants of
customers. Further, through the means of this method, wide range of information will be
collected that will be beneficial for both top level management of L’Oreal as well as
project consultant of Nexus Ltd. It will be very effectual in attaining valuable results for
the study. Market research will aid in scanning the market conditions in effective manner.
 Secondary source: Top level management of L’Oreal will also make an effectual use of
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secondary data collection sources to a great extent by gathering a wide range of
information regarding the demand of products in the market as well as the products
available in the market by its competitors. However, this information will be raised
through websites of competitors, annual reports for analyzing the demand of similar
products, needs and wants of customers through different articles and current trends from
online blogs from industry experts.
 Financial Factors: These are the most crucial factors that highly contributes in the
success and failure of the selected project. Herein, Nexus Ltd. has to undertake the
defined budget of launching the L’Oreal Black Charcoal Face Wash. The financial
factors that contributes in the success and failure of selected project consist of forecasting
cost, pre-Launch marketing and post-launch marketing cost requires adequate amount of
money for the consultant in order to make sure successful launch of product. Further,
there are several umbrella factors associated with the launch of project needs to be given
equal important while allocating the funds or money. In order to analyse the financial
factors success and failure, different capital budgeting techniques can be used by the
Consultant of Nexus Ltd. such as payback period which will assist in ensuring the time
required by the cited firm to regain initial investment. Further, employing net present
value will assist in show the present value project after its launch so that management of
L’Oreal and Project consultant can easily make the decisions.
 Understanding the Competition: Once the product is produce it is important to market it
in appropriate and suitable manner (Durmuşoğlu,Calantoneand McNally, 2013).
However, for this management has to understand the need of market. According to the
present case, Nexus Ltd. consultants have this responsibility to carry out. Planning to
launch the L’Oreal Black Charcoal Face Wash they have to evaluate how competitors are
marketing the product by analysing their official website, brochures, print, online ads etc.
By the means of this, consultant can develop launching strategy which distinguish from
available competitor’s products and establish cited products brand image within the target
market. Therefore, understanding the competition will contribute for the Nexus Ltd.
consultant to develop suitable outline for the launch of L’Oreal’s new product. Further,
carrying out competitive analysis helps in differentiating the product from its competitors
as well as present required specification to address the needs of market. Considering the
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level of competition that L’Oreal facing at present it is important to offer products at
affordable prices so that position within the market of UK.
 Targeting market audience: Nexus Ltd. consultant has the duty of identifying the target
audience for the L’Oreal Black Charcoal Face Wash so as to develop the marketing
message accordingly. Project consultant of Nexus Ltd. and top level management of
L’Oreal are planning to launch the L’Oreal Black Charcoal Face Wash within entire UK.
Through the help of understating the needs and wants of customers, consultant can easily
frame the launch strategy and contribute positively. Further, the product will be launched
by organising an event which will be termed asthe launch party of L’Oreal Black
Charcoal Face Wash. The main purpose of involving Consultant from Nexus Ltd. by top
level management of L’Oreal is to easily carry out market research and accordingly plan
the entire course (Andersen, Dysvik and Vaagaasar, 2009). The target audience for the
L’Oreal Black Charcoal Face Wash is young male who are cautious about their skin as
well as attracted towards the cosmetic products. This could be consider as the most
important factor that can contributes to generate desired results and outcomes for the
firm.
 Economic Factor: These affects the overall consumption and investment in a business
enterprise. However, a stable economy encourages the company like L’Oreal to launch
new product as the spending power of people will be high while on the other hand,
unstable economy of UK or recession after affects increases the business risks and even
discourages investments. Further, there are several government policies and regulations
related to fiscal and monetary that affects the course of launching the L’Oreal product
(Craig and Sommerville, 2006). Mainly economic factor such as change in taxation
policy and customer duties can affects the costs and price of L’Oreal Black Charcoal
Face Wash. Therefore, launching a new product in suitable and reliable manner top level
management of L’Oreal and Consultant of Nexus Ltd. has to ensure suitable pricing and
marketing strategy that can leads to create higher demand (Brewer and Strahorn, 2012).
 Human Resources: Workforce is the important factor that contribute in the success and
failure of any project. Herein, consultant of Nexus Ltd. has to ensure that he/she selects
the best suitable people for carrying out the launching project. Further, consultant also
has to make sure that duties and responsibilities are allocated in proper manner to right
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individual so as to execute the whole project in reliable way. Project consultant,
marketing managers, PR managers, event manager, and logistic manager will be
employed to launch the selected product.
 Political factors: VAT rate and policies related to taxation, trade and the support of
government for business etc. are considered under the political factors at the time of
launching a product. Herein, consultant of Nexus Ltd. hired for L’Oreal has to focus on
all these elements. In the context of launching of L’Oreal Black Charcoal Face Wash,
project consultant has to consider all the defined political factors as L’Oreal fall under the
category of higher marginal tax rates due to which company has to pay law tax rate for
the new innovation in business operations.
 Feasibility test: Through the means of different investment appraisal techniques
consultant of Nexus Ltd. can carry out feasibility test of L’Oreal Black Charcoal Face
Wash. However, NPV, Payback, ARR and IRR will assist in identifying whether launch
of project is feasible in terms of financial prospects (Cervone, 2007).
Product Specification Details
Project objectives To enhance the market share of L’Oreal in the male segment.
Finance Launching at UK level around £235,000 is estimated
Time Launching of cited product will take 3 month process.
Resources Requirement Human resource: Project consultant, marketing managers,
PR managers, logistic manager, event manager etc.
Technology: Social media, digital marketing techniques,
traditional marketing approaches.
1.2 Outline of the project specifications for an agreed project of launching L’Oreal Black
Charcoal Face Wash
Introduction:
According to the present given scenario, L’Oreal is planning to launch L’Oreal Black
Charcoal Face Wash which is a new beauty product for male segment. However, in order to
carry out the process, cited firm has hired consultant from Nexus Ltd. who are the professionals
in terms of launching products at each level i.e. large and small (Clarke, 2009). Therefore,
consultant has to focus on different prospects and activities for managing the launch project.
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Following are the specifications of launching L’Oreal Black Charcoal Face Wash in the target
market:
Cost:
To carry out project in the best possible manner, large amount of fund is required by the
consultant team of Nexus Ltd. However, launching at UK level around £235,000 is estimated
(Craig and Sommerville, 2006).
Timescales:
Pre-launch promotion during the production process of L’Oreal Black Charcoal Face
Wash and post-launch marketing will consist of 3 month process.
Resources:
Human resource: Project consultant, marketing managers, PR managers, logistic
manager, event manager, etc.
Technology: Social media, digital marketing techniques, etc. (Durmuşoğlu, Calantone
and McNally, 2013).
Ethics:
In context to ethics, it is important for L’Oreal and Nexus Ltd. to pay great emphasis on
fair marketing and promotional approaches that are indulged to launch the product. Along with
this, approaches used to gather data should also be under the ethical code of practices.
No Specification Details
1 Cost of Project £235,000
2 Duration 3 Months
3 Resources
Human Resources 23People
Technological Resources Physical Evidence, hardware and software, Internet
services, different marketing tools, Other supportive
equipment
software As required
4 Quality Quality of the project will be managed by monitoring
each steps for which project consultant will be
responsible.
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Quality is one of the major prospects of entire project. However, considering the objective of
project, consultant of Nexus Ltd. will make valiant efforts in creating better awareness about
Face Wash so that higher demand can be generated and L’Oreal can easily improve its market
share in the male segment beauty products. Thus, superior quality of work is expected from the
consultants of Mangement from the management of L’Oreal.
The above defined are the major specifications of launch project that is important for the
consultant manager of Nexus Ltd. to understand so as to execute or accomplish the defined
project in the best possible manner. Furthermore, operating in such a competitive environment it
is important for the management of L’Oreal to execute the Launch project in suitable way so that
expectations and demand of different stakeholders can be met (Eve, 2007).
1.3 Produce a specification for an agreed project to implement a new product, service or process
Costs:
To carry out project in the best possible manner, large amount of fund is required by the
consultant team of Nexus Ltd. However, launching at UK level L’Oreal estimated around
£235,000 for conducting whole project.
Details Cost of project
Human resources £120,000
Technological resources £40,000
Finance £75,000
Total £235,000
In the above study, varied specification has been defined clearly that consultant of Nexus
Ltd. have focus while carrying out the entire launching project (Flyvbjerg, 2013). According to
the present given scenario, project consultant after understanding the significance of project has
defined several specifications which will lay crucial role in successfully launching L’Oreal Black
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Charcoal Face Wash in the target market. Herein, primary approach has been used to collected
data regarding the needs and wants of people and identified that they are facing major issues
from increasing dirt, pollution and oil in which survey methodology has been used. However, the
purpose of undertaking survey methodology is that it helps in identifying the needs and wants of
customers and accordingly launching the product. Competitor analysis has been carried out by
the top level management of L’Oreal to understand the objectives, strategies, products or
services and competencies of art rivals so that cited firm can launch the product which
differentiate from the competitors.
Scope and Objective of the Project:
For the current project, consultant of Nexus has classified the activities into four different
segments which are essential for the successful execution and completion of project. However,
the suitable specification for the selected project is divided into four different parts which are
project objectives, available and required resources, financial prospects of whole project and
time required to carry out the whole project in the desired manner (Fox and Waldt, 2008). All
these elements are important for the success of project because they assist in addressing different
aspects of the project which is the basic necessity for the successful execution and closure of
project. Further, under these four main elements, various sub-elements are present which will be
the guidelines for the project manager to plan, organize and deliver the project of L’Oreal in the
best possible manner.
Timescale:
Total time required for launching the L’Oreal Black Charcoal Face Wash is 3 months
which is bifurcated in three main activities.
Activities In days
Data Gathering and Analysis Phase 26
Market strategy and programs phase 18
Launch planning and implementation phase 26
Business aspects:
Looking at the present functioning of Nexus Ltd. it is labeled as the medium sized
consultancy firm. However, the current project of launching L’Oreal Black Charcoal Face Wash
will assist in enhancing the level of business operations for the firm. Further, associating with
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such big brand name will help the course of Nexus Ltd. in attaining large or multinational level
project in near future (Greasley, 2007). Thus, it is of great importance that workforce of Nexus
Ltd. execute the launch project of L’Oreal in the best possible manner.
Resources Required:
Looking at the critical prospects of every project, it is essential for the firm or individual
to possess adequate amount of resource for carrying out the activities in successful manner.
There are varied resources that will play significant role for the management consultant of Nexus
Ltd. in accomplishing the project of launching L’Oreal Black Charcoal Face Wash (Haynes,
2002). Further, these resources can be categorized under three different headings such as human
resource, equipment resource and financial resource.
Human Resources table:-
Job description No of
people
Salary/Monthly£ Total Cost
3/Month
Project Manager 1 £5000 £15,000
Marketing manager 2 £3500 £21,000
Regional Manager 4 £2500 £30,000
Area manager 5 £1500 £22,500
Logistic manager 6 £1200 £21,600
Admin 3 £700 £6,300
Technical staff 2 £600 £3,600
Total 23 £120,000
For the successful launch of the Face wash all resources especially the human resources must be
utilized optimally and accurately within the 3 months’ time period. The human resources would
include project manager, technical managers, marketing managers and area managers, regional
managers and respective staff. Project manager is responsible for distributing the human
resources. Marketing manager and technical managers are responsible for designing and
executing the marketing plan such as designing and development including social media, TV
adverts, newspaper and identifying the marketing places such as stalls and shops. Area managers
as well as regional managers are responsible for recruiting the staff. All the managers must report
to the project manager and update accordingly.
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Technology Resources:-
Technological resources Monthly cost Total cost
Physical Evidence 3000 9000
Hardware and software 3000 9000
Internet services, different
marketing tools
4000 12000
Other supportive equipment 3000 10,000
Total £40,000
All these technical resources prove to be very helpful in managing each and every
activity of project plan in a smooth manner. Along with this, all these resources will also be
helpful in developing record of each and every activity.
Project management, planning and implementation cycle:
Lifecycle of the product defines its reliability and suitability within the target market.
However, further it shows the efforts that are put in by workforce of the company to develop,
procure, market and sell so that business can generate revenues and product can establish its
position within the market (Haldenwang, Slatter and Pearce, 2006). For ensuring the project
success and achievement of desired aim and objectives it is critical to understand and plan the
whole project cycle by the consultant of Nexus Ltd. with the agreed specification of L’Oreal
senior authority. In this regard, project cycle can be defined as the sequential process of
integrated activities performed in phases to complete the project successfully. Herein,
management consultant at Nexus Ltd. has bifurcated cited project into three different phases that
understands the scope of project, planning and plotting of different activities, defining the budget
and implementation process to achieve the desired results. Further, this will present through the
means of project management tool such as Gantt chart and Network Diagram (Hanisch and et.al.
2009).
ASSIGNMENT 2: PLANNING THE PROJECT
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