Project Management Plan for New Product Development at Next Plc

This project presents a comprehensive project management plan for Next Plc's summer shoe launch, focusing on the London Fashion Week in November 2020. The introduction highlights globalization's impact on businesses and introduces Next Plc as the case study. Task 1 defines the project's aims and objectives, research questions, and a project management plan encompassing cost, time, quality, risk, scope, and communication. Task 2 delves into qualitative and quantitative research methods, including primary research, data collection techniques. Task 3 includes Gantt charts and work breakdown structure (WBS). The project analyzes the effectiveness of new product development, explores market entry strategies, and evaluates the relationship between new product development and business growth opportunities. The project concludes with recommendations and a reflection on the research process.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Aims and Objectives of the project.......................................................................................1
P2. Project management plan......................................................................................................2
P3. Gantt Chart and Work Breakdown structure........................................................................4
TASK 2............................................................................................................................................6
P4. Qualitative and Quantitative research methods for effective aims and objectives...............6
TASK 3..........................................................................................................................................10
P5. Evaluate research and data with suitable tools and techniques...........................................10
P6. Recommendation................................................................................................................18
TASK 4..........................................................................................................................................18
P7. Reflection............................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................20

INTRODUCTION
Globalisation is considered as the procedures by which firm is facilitating their goods and
services to all over the world. It will aids organisation to enhance their sales as well as maximise
the whole organisational productivity. Moreover, this is also, considered as the movement of
individuals, services, products and so on across geographical boundaries for developing the
enterprises as well as their market share (Hillson, 2017). This brings the various opportunities of
the enterprises for firm that not only maximise its market share but also enhances its
marketplace. For this research the chosen company is Next Plc is the well known British
multinational retailers fo home products, clothing and footwear. the respect firm is introducing a
new summer shoe for the London fashion Week which is organising in 16th -20th November,
2020. in which various firms are taking part for representing their products. In this research,
research is going to formulate aims, objectives, project management plan and research
methodology. Moreover, conduct the data analysis as well as facilitates recommendation to
company. Along with this reflection is given in context of overall experiences of the researchers
during research.
TASK 1
P1. Aims and Objectives of the project
Background of the project
Next Plc is a famous British multinational retail firm which was developed in year 1864
by Joseph Hepworth. However, the organisation have approx 700 stores from those 500 are
operating in UK. This is listed on London Stock Exchange. This has been analysed that
respective organisation is focused upon introducing new products that is new range of summer
shoes in London Fashion Week. For instance, manager of the company have hired a researcher
for understanding the globalisation as well as their impacts which may influence functions of the
enterprises negatively (Cleden, 2017). While introducing a new range of summer shoes in
London Fashion Week that will be going to held in 16th- 20th November, 2020. for it, investigator
should make efficacious aims and objectives according the given scenario. Aims and objectives
are discussed below:
Research Aim:
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“ To ascertain the effectiveness of new product development for organisation in
maximising growth opportunity for firm”. A study on Next Plc.
Research Objectives:
 To examine the effectiveness of new product development.
 To analyse the several ways by which organisation can introduce its products into market
place.
 To evaluate the relationship between new product development and business growth
opportunities.
Research Questions:
 What are the effectiveness of new product development?
 What are several ways by which organisation can introduce its products into market
place?
 What is relationship between new product development and business growth
opportunities?
P2. Project management plan
Project management plan is considered as the effective planning for implements as well
as efficacious project for company. It involves a documentation which aids in formulation
comprehensive base lines for attaining the set targets. This is very crucial for preparing an
effectual plan after ascertaining several aspects in order to accomplish the project in smooth
manner as well as reach towards the decided objectives (Polonsky and Waller, 2018). Moreover,
this is the structure which involves many strategies as well as stages for accomplishing the
project task. It is essential to effectively examine several aspects that impact the project
management plan like needed time, quality, cost included risk and much more. All these aspects
are discussed below:
 Cost: This is considered as the most curial aspect as without this any project plan or
research can not get implemented or carry out . It is the amount of money which is
needed to conduct the research in effective as well as efficient manner. It play significant
role into smooth functioning of investigation plan. Investigator required to a effectual
plans of the budget for performing research. For this research project, researcher is
approximating the overall cost is about 45000 pound.
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 Time: This is considered as the time duration needed for effectual accomplishment of
research. For completing the investigation on time, this is very significant that overall
activities of this particular research have to be initiated on time so that work have to be
accomplished in expected time duration. Investigator who are performing this
investigation have analysed that it need about 6 to 7 weeks to accomplish this.
 Quality: This aspects is considered as the standards for performing the research.
Research quality is the significant factors which required to be decided through
researcher before doing investigation. It will aids in distinguishing this from several
another investigators (Young, 2016). Moreover, it have to be good enough for
representing an efficacious as well as qualitative research. Through setting standard
research quality will aids researcher to set investigation standards that will assists them in
evaluating exact investigation.
 Risk: It is considered as the factors which will leads towards a negative impact of
investigation. This is significant aspects of the research for identifying the risk amount
included while conducting the investigation. Researcher have to examine the risk before
hand. So that they can formulate efficacious strategies in order to face or deal with the
risk. Factors of risk involves lack of human resources, time, funds and much more.
While performing this research the researcher have to make strategies to overcome from
this risk and accomplish research on time.
 Scope: This is also considered as the important aspect of project management plan. As
research scope aids researcher in examining their effectualness in upcoming time as well
as market places. For introducing a new product, its is essential to analyse chances of
product successfulness into market place. Through examining their scope this will assist
researcher to find out possibilities of success or failure of newly introduced goods into
market places.
 Communication: This is very essential for research to efficaciously communicate with
their group members and another individuals who provide assistances in performing
investigation. Communication is significant portion of investigation for accumulating
information from several sources (Tidd and Bessant, 2018). Effectual communication
will also assists in encouraging team members to accomplish needed work and
efficacious flow of research procedures. Moreover, in this research, investigator used
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various techniques such as several techniques such as social media that assists them to
reach towards individuals for conducting effective surveys. Mobile phones which assists
them to communicate easily with its group members and much more.
P3. Gantt Chart and Work Breakdown structure
Gantt chart
Henry Gantt , an American mechanical engineer and social scientist designed Gantt chart
in 1917. It is graphical depiction of a project schedule commonly used in project management to
show activities along with their timings. Gantt chart depicts bar charts which are used in project
for planning and defining sequence of tasks for completion. It helps in scheduling, managing and
monitoring tasks and resources in a project where it shows project timeline. Gantt chart is optical
view of tasks scheduled over time (Taherdoost and Keshavarzsaleh, 2018). This chart is consist
vertical and horizontal axis, where vertical axis shows tasks to be performed and horizontal axis
shows duration of each activity. Gantt chart displays contents of projects such as: starting date
of project, tasks, person working on project, time limit of each task, grouping and overlapping of
tasks and finishing date of the project. It commonly used in tracking project schedules and
provides clear illustration of project but it doesn't show dependencies of tasks on another tasks.
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Work breakdown structure
Work breakdown structure is defined as dividing of complex and manageable tasks into
easy and simplifying manner for project execution. Work breakdown structure is also known as
WBS which is used in project management and system engineering. WBS is a delivery oriented
breakdown which organises projects and work into smaller component and sections. The main
aim of this structure is to make large and complex structures more manageable. The objectives
of WBS are as: accurate and readable projects and assignments, help in estimating cost and time,
and illustrating scope of project which is useful for the shareholders to know about project and
its existence (Thamir and Poulis, 2015). Its work is to divide or breakdown work into smaller
sections and will lead to better team productivity and making project management easier. WBS
helps to reduce complications and the tasks are measurable and independent with clearly defined
limits. The efficiency of WBS can determine success of a project and supporting management
functions like planning, resource allocations and rescheduling of work.
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TASK 2
P4. Qualitative and Quantitative research methods for effective aims and objectives.
Research methodology is considered as the certain process or methods which is utilise for
identifying selecting, examining data related to topic. In research, this permit researcher to
analyse the whole reliability as well as validity. There are several methods that will aids in
setting objectives of the research (Laufer and et.al., 2015). Investigators required to effectively
measure these methods for getting efficacious results. There are tow methods which are
discussed below:
Quantitative research: quantitative research is the systematic research in which data are
collected in numerical and statistical data. It emphasises more on gathering numerical
information and generalising it across groups of people. This research is all about numbers and
figures. It is used to determine facts, figures, opinions, behaviours and attitudes in quantity and
numerical manner that what they performed and how it measured. The data is collected using
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structured instruments and results are based on large sample sizes of population. The tools used
by researchers to gather numerical data are questionnaires and software. The project study can be
replicated and repeated by the researchers because they numerical fact and figures can be
secondary data.
Qualitative research: qualitative research is known as scientific method of collecting
non numerical data. Its main focus is on obtaining data and information through open ended
conversation and communication. The focus of this research is on the concept of 'why' instead of
'what' people think. Qualitative research is an exploratory research which provide visual image
into problem and helps to develop ideas or hypothesis by understanding opinions and reasons. It
refers to meaning, concepts, definitions, symbols, characteristics, and metaphors of research
(Binder, 2016). The results of qualitative research are more descriptive and abstracts are drawn
from these data are easygoing. Methods of this research are in-depth interview, case study, one to
one interview, record keeping and observation process.
Thus, for respective investigation researcher utilise both quantitative as well as
qualitative methods. Mainly numeric terms and conceptions both has been examined through
investigator in detailed. It will aids in showing the deficiency areas as well as tends to resolve the
issues that occurs during research.
Data Collection:
This is refers as the procedures of accumulating as well as evaluating information or any
other variables of interest into developed as well as standardised way which allow the researcher
to test hypothesis and measure results of the specific collection. It is considered as an integral
part of any investigation performed into any area of examination.
Primary research: primary research is defined as actual and first hand material written
by a person who is performing research. It is a methodological analysis used by researchers to
collect data instead of depending upon data and information collect previously. Primary research
is in-depth analysis of facts and figures to address a certain problem. The researcher are 'owner'
of data collected by them (Buh, Kovačič and Indihar Štemberger, 2015). The methods of
collecting data and research vary from person to person but it follows scientific method for
study. It is an original research with data and thoughts of a researcher. Primary research is known
as new research which is carried out to find and answer specific issues or questions. It can
involve methods such as questionnaires, surveys, interviews, focus groups and observations.
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Secondary research: secondary research is that kind of research in which data and
informations are extracted by researchers from primary research. It is the analysis, interpretation
and summarization of primary research data. Secondary market research is known as 'Desk
research'. This research uses outside information which is assembled any source such as any
government agencies, industry, labour unions and media sources. It includes data from
magazines, newspapers and any publications. Since available data is already analysed, then
responsibility of secondary researcher is to find out applicable data for relevant project. The data
and information in secondary research is extracted by methods like public libraries, educational
institutions, information from internet, encyclopedias and government or non government
agencies.
For conducting the research in effectual way, researcher is utilising the primary methods.
Investigator prepare questionnaires based on respective research topic by primary methods.
Sampling:
This is refers as the statistical procedures which is related with choosing of observations.
This aids researchers to develop statistical inferences regarding population. In sampling,
investigator assumes that samples are drown from the population as well as means of samples
and population are equal (Gee, Weaverand MacKerron, 2017). This is very much helpful into
investigation. This is one of essential aspects that ascertain the relevancy of the research research
or survey outcomes. This consists some methods such as simple random sampling, systematic
sampling and much more. For this particular investigation the investigator utilise the random
sapling methods.
Sample size: This evaluates the number of people samples measured or observation
which is utilised into experiments or surveys. For ascertaining the size of the sample that is
required for survey or experiment, investigator consider a cumber of expected factors in
accounts. This is usually represented through the variables (Grayson and Hodges, 2017). For
this research, sample size is 40.
Questionnaires: This is considered as the instrument of research that consists a set of questions
for the aim of accumulating data from participants. It is in structured form whether in written or
printed.
QUESTIONNAIRE
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Name:
Age:
Contact details:
Q1.Are you aware of new product lunched strategy of NEXT plc?
 Yes
 No
Q2.Do you think introducing new product will be helpful for company in order to increase its
profit?
 Yes
 No
Q3.What is the most important factor that needs to be consider while attracting customers
towards new product?
 Design of product
 Product price
 Requirement of customer
 All of the above
Q4.According to your views, which is the most effective promotional tool for new launched
product?
 TV advertisement
 Social media
 Online promotion
 All of the above
Q5.How much promotional practices of company have impact on sales of product?
 Very much
 Some
 Not much
Q6.Are you willing to try new shoe product of NEXT plc?
 Yes
 No
Q7. In London fashion weak, who can be the tough competitors of NEXT Plc?
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 Zara
 H&M
 M&S
 All of the above
Q8. Essential features which are required in order to launch new product in the target market for
Next Plc?
 Affordable cost
 High quality products
 Both of the above
Q9. Do you think lunching new product in London fashion week is a profitable move of NEXT
plc?
Q10. Any suggestions for additional improvement in business practices of NEXT plc.
TASK 3
P5. Evaluate research and data with suitable tools and techniques.
Theme 1: New product launched strategy of NEXT plc.
Q1.Are you aware of new product launched strategy of NEXT plc? Frequency
 Yes 30
 No 10
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