Project Management Plan for New Product Launch at Marks and Spencer

Desklib provides past papers and solved assignments. This project details a new product launch at Marks & Spencer.

Managing a successful business
project
1

Table of Contents
Introduction......................................................................................................................................6
LO1..................................................................................................................................................7
P1 Devise project aims and objectives for a chosen scenario.....................................................7
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..............................................................................................8
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion............................................................................................................................10
M1 Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project......................12
D1 Critically evaluate the project management process and appropriate research
methodologies applied...............................................................................................................14
LO2................................................................................................................................................15
P4 Carry out small-scale research by applying qualitative and quantitative research
methods appropriate for meeting project aims and objectives..............................................15
M2 Evaluate the accuracy and reliability of different research methods applied......................19
LO3................................................................................................................................................20
P5 Analyse research and data using appropriate tools and techniques......................................20
P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................22
M3 Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to
support and justify recommendations........................................................................................23
D2 Critically evaluate and reflect on the project outcomes, the decision- making process and
changes or developments of the initial project management plan to support the justification of
recommendations and learning during the project.....................................................................23
LO4................................................................................................................................................24
2

P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance........................................................................................................................24
M4 Evaluate the value of the project management process and use of quality research to meet
stated objectives and support own learning and performance...................................................25
Conclusion.....................................................................................................................................26
References......................................................................................................................................27
Questionnaire.............................................................................................................................29
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List of Figures
Figure 1: Work Break Down...........................................................................................................7
Figure 2: High competition for Marks & Spencer’s in UK fashion industry................................11
Figure 3: Launch of new summer shoe is according to the outcome of adequate market research
.......................................................................................................................................................12
Figure 4; Marketing techniques will be employed for the promotion of the product....................13
Figure 5: Most challenging aspect in the present project..............................................................13
Figure 6; Company test product before launch in the London Fashion Week..............................14
4

List of Tables
Table 1: Gantt Chart Of Project.......................................................................................................8
Table 2: Project Plan........................................................................................................................9
Table 3: Monitoring Plan...............................................................................................................10
Table 4: High competition for Marks & Spencer’s in UK fashion industry.................................10
Table 5: Launch of new summer shoe is according to the outcome of adequate market research11
Table 6: Marketing techniques will be employed for the promotion of the product.....................12
Table 7: Most challenging aspect in the present project................................................................13
Table 8:Company test product before launch in the London Fashion Week................................14
5

Introduction
Managing a successful business is considered as a critical aspect that can assist in improving
performance standards. It has been noticed that the use of project management practice facilitates
in improving the success scale. Use of work break down and Gantt chart is also useful for the
business entity and it helps in accomplishing the diverse activities (Slawsky and Zafar, 2017).
Proper monitoring is also significant so that objectives can be accomplished. The present study
will be focused on new product launch project of Marks and Spencer. It will be covering detailed
analysis of activities that need to be covered by management for the success of the project.
6

LO1
P1 Devise project aims and objectives for a chosen scenario
Every successful project needs an effective development of aim and objectives so that activities
can be designed accordingly and leads business to better success. It is significant for a business
firm like Marks and Spenser to have effective consideration of aim and objectives design so that
sustainability can be promoted in the desired manner (Nicholas and Steyn, 2017).
Marks and Spencer have decided to introduce a new product that means the current project
selected is a new product launch in the competitive market. The aim of the project selected is to
develop and launch the summer shoe. The project will be launched at the London Fashion Week
2020. The project deadline will be 12th February 2020. In order to provide better support to the
aim, the objectives are also being framed by the management of Marks and Spencer (Hillson,
2017).
Objectives:
 To improve market share and introduce the brand image in summer shoe segment
 To launch the new summer shoe and organize the event
 To gain a better competitive edge in the fashion market of UK
 To enhance the customer base and performance of Marks and Spencer
7

P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources
The project management plan is referred as the most critical aspect that assists in leading
business towards an impressive level of success. It is significant for every business firm to have a
selection of project management plan so that the project can be accomplished in a critical manner
(Said et al. 2017). In the present condition, the Marks and Spencer must consider the effective
development of the project management plan so that overall development can be attained. It
assists in the proper management of diverse activities that play a critical role in project
completion. Present project of the company is to introduce the summer shoe and ensure that
proper marketing activities are being considered.
Project cost- Every project need effective fund allocation so that project cost can be well
maintained and leads to better success. It has been noticed that the launch of new summer shoe is
a project will cost the company around 9000 pounds so that overall activities can be
accomplished (Schaltegger and Wagner, 2017). Overall costing of the project is classified into
three different sections such as product development, marketing of event and launch of the
product in the event.
Scope – Key scope of the present product launch is to improve the brand image of Marks and
Spencer and leads the business firm to better success. The success of the project will assist in
effective development of values and maintain the competitive advantage. Better awareness about
the products of Marks and Spencer can also be developed (Stamp, 2017).
Time – Project will be started on 25th February 2019 and its completion date is 12th February
2020. It indicates that the overall deadline of the project is almost a year that assists in the
sustainable development of the brand image. It has been noticed that the company will be
focused on the proper allocation of the time period to meet the objectives (Blohm et al. 2016).
Quality – Company will be focused on effective quality parameters so that objective can be
accomplished. It will allow the business firm to have effective development of performance
measures so that a better outcome can be attained.
Communication – Use of social media will be preferred by business entity in order to improve
the communication standards. It will assist in communicating the information to the target
audience. Complications also need to be shared in the communication process (Kumar and
Yakhlef, 2016).
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Risk- Project manager must have proper sharing of the information with employees and leads to
better success. Risk information sharing will assist in designing better strategies so that issues
can be resolved. Also, the risk of an increase in cost will be referred adequately by the
management.
Resources – It is also significant for the project manager to have a focused on the resource
allocation so that activities can be performed. Resources like finance and technology is essential
so that objectives can be accomplished (Newbert, 2015).
9

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion.
Figure 1: Work Break Down
Gantt Chart
Table 1: Gantt Chart Of Project
Activity/days 4 8 12 16 20 30
Summer Shoe
development
10
Product development and its lauch in the
London Fashion Week
Design and key features
finalization regarding
summer shoe
Product development
Suitable selection
of different
marketing tools for
promotion of the
summer shoe
Promotional strategy
development for the
sucess of event
Collabration and selling to major
participants in the sector
Product marketing
Summer shoe development
Particiation in London
fashion week and its
launch in the market

Resource
identification and
allocation of key
standards
The project will be
started with
considering the
allocation of
resources
Strategies
formation for
marketing activities
Design finalization
for better
development of
product
The decision about
tools and
techniques of
marketing activities
Promotional
strategy
development so that
event can be
recorded at success
level
Product promotion
and marketing
11

Final launch at the
event
M1 Produce a comprehensive project management plan, milestone schedule and project schedule
for monitoring and completing the aims and objectives of the project
Table 2: Project Plan
Key Milestone Start Date End Date
Summer shoe development 25th February 2019 2nd March 2019
Analysing the resource
development and requirement
25th February 2019 2nd March 2019
Allocation of resources 25th February 2019 5th March 2019
Strategic plan for the
marketing of the product
25th February 2019 1st January 2020
The decision about the design
of summer shoe
25th February 2019 5th February 2020
Appropriate application of
selected marketing strategies
25th February 2019 5th February 2020
Promotional strategy decision
for the success of the event
25th February 2019 8th February 2020
Advertising regarding product
launch
25th February 2019 8th February 2020
The final launch of the product
in the market
25th February 2019 12th February 2020
12