Project Status Report for New Product Development in Samsung

This project status report analyzes the progress of a new product development project within Samsung. The report, presented to the management board, evaluates completed and remaining tasks, resource allocation, budget status, and potential risks. It reveals that 17% of the project has been completed, highlighting over-allocation of resources in certain non-critical tasks. The report details project objectives, deliverables, milestones, and a Gantt chart illustrating task durations and dependencies. Key findings include an overview of the project's budget, issues identified, and a risk review focusing on resource allocation. The report provides insights into the project's performance, identifies areas for improvement, and suggests actions to enhance efficiency and mitigate risks associated with over-allocation of resources.

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

1PROJECT STATUS REPORT
Executive Summary
This report has developed a project status report for identifying the completed task and
remaining task in the new product process in Samsung. The report will be presented to the board
of management so that they can understand the progress of the project and the shortcomings
faced while faced in executing the project. The report has also included overall budget, over
allocation of resources and slack time. The report had concluded by providing the necessary
action that has to be taken for improving the efficiency of the overall procedure. It has been
concluded from the study that the status report suggest that 17% of the overall project has been
completed. The project status has provided insights on allocation of resources, budget, overall
cost and remaining cost of the project. The report has shown that there has been over allocation
of resources in some of the cases in both critical and non-critical task. However, nothing could
be done about the deliverables and milestones that have been completed. Thus, the risk factors
would be mitigated by effective use of project status report.

2PROJECT STATUS REPORT
Table of Contents
Introduction......................................................................................................................................3
Background of Samsung..................................................................................................................3
Project scope....................................................................................................................................4
Project objectives.........................................................................................................................4
Project deliverables and milestones.............................................................................................4
Project progress and performance...................................................................................................9
Issues..............................................................................................................................................15
Budget Status.................................................................................................................................16
Risk review....................................................................................................................................18
Project and personal reflection......................................................................................................18
Conclusion.....................................................................................................................................19
References and Bibliography.........................................................................................................20

3PROJECT STATUS REPORT
Project Name: New product development process in Samsung
Project End Date: 26/2/2019
Introduction
This study will develop a project status report for identifying the completed task and
remaining task in the new product process in Samsung. The report will be presented to the board
of management so that they can understand the progress of the project and the shortcomings
faced while faced while executing the project. The report will also include overall budget, over
allocation of resources and slack time. The report will conclude by providing the necessary
action that has to be taken for improving the efficiency of the overall procedure.
Background of Samsung
Samsung is one of the largest conglomerates in technology and consist of variety of
technological products in the market. The organization has its headquarters in Seoul and most of
their products are under the brand name of Samsung. The organization had diversified their
product line, and offers variety of products to the target market worldwide. The notable
industries of the organization are Samsung electronics, Samsung Heavy industries, Samsung
C&T and Samsung Engineering (Samsung Electronics America, 2018). Samsung has started to
emerge in the global market in the late 90s and have been to increase their consumer base in all
over the world. They have provided competition to Apple who is the market leader in this
segment by providing similar products with better configurations at cheaper prices. However,
they have been fined for damaging six of the patents of Apple but they have been able to make
steady progress by collaborating with Microsoft

4PROJECT STATUS REPORT
Project scope
Project scope is the crucial data required for defining the needs and expectation of the
consumers in particular project. This project is aiming at developing a product for their high end
consumers segment (Collins, Parrish & Gibson Jr, 2017). This product will fulfil the current need
and wants of the consumers in the market. The project includes the objective of the project,
deliverables, milestones and technical report. This is a project status report, which will provide
the status report until a given point of time to identify the issues and risk involved.
Project objectives
The objectives of the project are mentioned as follows:
 To identify the current market trends in Smartphone industry
 To evaluate the new requirements for a develop a product
 To design and launch a product for current consumers of Samsung
 To test the products for identifying necessary changes
Project Status report objectives
 To evaluate the status for the report till the given date
 To identify the risk factors
 To calculate the budget status
Project deliverables and milestones
Project deliverables and milestones will define the various processes for developing the
new product (Snyder, 2017). There are various stages included in a project and each of the stages
has specific tasks defined to it. The completion of each of the stages in project management is

5PROJECT STATUS REPORT
known as milestone. This project will consist of five stages and five milestones has been defined
in the study.
Task Name Duration Start Finish Predecessors
Product Development Status
report
345 days Wed 11/1/17 Tue 2/26/19
User Requirement Analysis 40 days Wed 11/1/17 Tue 12/26/17
Trend analysis 10 days Wed 11/1/17 Tue 11/14/17
Survey and pilot Study 15 days Wed 11/15/17 Tue 12/5/17 2
Identifying the requirements 15 days Wed 12/6/17 Tue 12/26/17 3
Formulating documents 5 days Wed 12/6/17 Tue 12/12/17 2,3
Functional Specification 10 days Wed 12/6/17 Tue 12/19/17 2,3
Milestone 1: User
Requirement Analysed
0 days Tue 12/19/17 Tue 12/19/17 6
Designing the solution 130 days Wed 12/20/17 Tue 6/19/18
Analysing the specifications 10 days Wed 12/20/17 Tue 1/2/18 7
Developing solution
argument
30 days Wed 1/3/18 Tue 2/13/18 9

6PROJECT STATUS REPORT
Designing solution in terms
of specification
60 days Wed 2/14/18 Tue 5/8/18 10
Designing user interface 45 days Wed 2/14/18 Tue 4/17/18 10
Performance design 30 days Wed 5/9/18 Tue 6/19/18 11,12
Milestone 2: New solution
designed
0 days Tue 6/19/18 Tue 6/19/18 13
product development 125 days Wed 6/20/18 Tue 12/11/18
Developing the prototype 10 days Wed 6/20/18 Tue 7/3/18 14
Testing of the prototype 15 days Wed 7/4/18 Tue 7/24/18 16
Identifying the defects 10 days Wed 7/25/18 Tue 8/7/18 17
Rectifying the defects 30 days Wed 8/8/18 Tue 9/18/18 17,18
Integration of the prototype 30 days Wed 9/19/18 Tue 10/30/18 18,19
Final product development 30 days Wed 10/31/18 Tue 12/11/18 20
Milestone 3: Product
developed
0 days Tue 12/11/18 Tue 12/11/18 21
Product Testing 45 days Wed 12/12/18 Tue 2/12/19
Preparing Test samples 30 days Wed 12/12/18 Tue 1/22/19 22
Distributing Test samples 5 days Wed 1/23/19 Tue 1/29/19 24

7PROJECT STATUS REPORT
Taking Feedbacks 10 days Wed 1/30/19 Tue 2/12/19 25
Performance testing 5 days Wed 1/30/19 Tue 2/5/19 25
Milestone 4: Product Testing
completed
0 days Tue 2/5/19 Tue 2/5/19 27
Product Review 15 days Wed 2/6/19 Tue 2/26/19
Identify necessary changes 5 days Wed 2/6/19 Tue 2/12/19 28
apply changes 10 days Wed 2/13/19 Tue 2/26/19 30
Milestone 5: Product
launched
0 days Tue 2/26/19 Tue 2/26/19 31

8PROJECT STATUS REPORT
Gantt chart

9PROJECT STATUS REPORT
Date of Status report: 11/1/2018
Project progress and performance
Milestone report
11/1/17 1/1/18 3/3/18 5/3/18 7/3/18 9/2/18 11/2/18 1/2/19
0
5
10
15
20
25
30
Remaining Tasks Remaining Actual Tasks
Critical Task completion
Name Start Finish %
Complet
e
Remaining
Work
Resource Names
Developing solution
argument
Wed
1/3/18
Tue
2/13/18
23% 1,472 hrs finance
manager,marketing
manager,operationa
l manager,product
analyst,Project
manager,software

10PROJECT STATUS REPORT
developer,sofware
designer,test
engineer
Designing solution in
terms of specification
Wed
2/14/18
Tue 5/8/18 0% 1,920 hrs product
analyst,Project
manager,software
developer,sofware
designer
performance design Wed
5/9/18
Tue
6/19/18
0% 720 hrs product
analyst,software
developer,sofware
designer
Milestone 2: New solution
designed
Tue
6/19/18
Tue
6/19/18
0% 0 hrs
developing the prototype Wed
6/20/18
Tue 7/3/18 0% 320 hrs product
analyst,Project
manager,software
developer,sofware
designer
testing of the prototype Wed
7/4/18
Tue
7/24/18
0% 360 hrs software
developer,sofware
designer,test
engineer

11PROJECT STATUS REPORT
identifying the defects Wed
7/25/18
Tue 8/7/18 0% 400 hrs product
analyst,Project
manager,software
developer,sofware
designer,test
engineer
rectifying the defects Wed
8/8/18
Tue
9/18/18
0% 960 hrs Project
manager,software
developer,sofware
designer,test
engineer
integration of the
prototype
Wed
9/19/18
Tue
10/30/18
0% 720 hrs software
developer,sofware
designer,test
engineer
Final product development Wed
10/31/18
Tue
12/11/18
0% 720 hrs software
developer,sofware
designer,test
engineer
Milestone 3: Product
developed
Tue
12/11/18
Tue
12/11/18
0% 0 hrs
Preparing Test samples Wed
12/12/18
Tue
1/22/19
0% 960 hrs marketing
manager,operationa
l manager,product