Analysis of Operations and Project Management for XYZ Company Report

This report examines operations and project management within the context of XYZ Company, a manufacturer of home appliances planning to enter the TV sector. It begins with an introduction to operations and project management, highlighting their roles in maximizing productivity and profitability. Task 1 reviews and critiques operations management principles, including reality, organization, accountability, change, managed passion, lean production, and six sigma, within the organizational context. Task 2 focuses on a continuous improvement plan, analyzing cost and applying Six Sigma methodologies. Task 3 applies the Product Life Cycle (PLC) to a given project, providing necessary supporting documentation. Finally, Task 4 reviews the effectiveness of the PLC application, using appropriate theories, concepts, and models. The report concludes with a summary of findings and recommendations, referencing relevant academic sources.

Operation and Project
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Review and critique of operations management principles within and organisational
context.........................................................................................................................................1
TASK 2 ...........................................................................................................................................5
P2 Continuous improvement plan based on review and critique of operations management
principles within an organisation................................................................................................5
TASK 3............................................................................................................................................6
P3 Apply PLC to a given project for producing necessary supporting documentation for
completion of project..................................................................................................................6
..........................................................................................................................................................8
TASK 4..........................................................................................................................................11
P4 Review on effectiveness of PLC in application to the chosen project by applying
appropriate theories, concepts and models. .............................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Operation management is the practice in organisation which includes in the conversion of
raw material and labour into goods and services or here, maximising the productivity and
profitability. The main function or activity of operation management is to balancing revenue and
cost for achieving high profits in a good manner. On the other hand, project management is the
process of managing all the activities of project. The main purpose of this may range from new
product development to a service launch. The chosen organisation is XYZ company, which is an
American and European brand company. It is involves in the process of manufacturing,
marketing and selling of home appliances. The main products of XYZ company deals with
Fridges and Freezers, electric cars, gas and electric cookers and washing machines. In present
time, company is planning to enter into TV sector, so that they can maximise their business. The
report describes on significance of project management and operations with its principles, results
of their application. Along with this, importance of continuous improvement plan in business by
find out their serious concerns and their proper solution is also been discussed in the report
(Artto, Ahola and Vartiainen, 2016).
TASK 1
P1 Review and critique of operations management principles within and organisational context.
Operation management plays an vital role in operating business in perfect manner. There
are various activities includes in operation management like organising, controlling, planning
and resource and labour controlling which leads to offer good services and products to customer.
There are some principles which are used in companies to facilitate smooth functioning of the
organization. There are following type of principles that are applicable in Hotpoint organisation
for functioning effectively and these help in operating business operations in a effective manner.
Principles of Reality: The principle of reality is the ability of the mind to assess the
reality of external world and act accordingly. As per this principle, it is important for
organisations to focus on the issues of operation management and not on the techniques which is
used to solve it. It is essential for managers of Hotpoint to identifies the customer need, wishes
and demand before launching a new or different product in market. Hotpoint is an electric
company, it is presently dealing with production of cooking products, air conditioners, freezers,
refrigerators and dishwashers.
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Principle of Organisation: It is the combination of so many objectives which includes in
unity, specialization, coordination, authority, delegation, responsibilities, unity of command,
span of control, balance, communication, personal ability, flexibility and principle of simplicity.
These are very important objectives of organisation. An organisation should be present their
operational activities in a certain order so that it can easily achieve the goals and objectives in a
perfect time frame. A good relationship among different departments of Hotpoint is necessary for
the efficiency of an organisation. There are several activities include in achieving a goal and
when these are performed in an organised way it takes very less time to complete the goals.
Accountability: Accountability is the very known term which is related with lot of
responsibilities from the oversight perspective. In this employees are also responsible for the
completing their task in a successful manner and explained all the issues. According to this
principle, Hotpoint needs to have managers who set an actual rules and regulations for their
employees and staff members. In this managers have to ensure that their superior are successful
in achieving targeted goals and objectives within the given period of time. Managers are
responsible for employee motivation and engagement so that they become beneficial for an
organization.
Change: It is important for any organisation to provide new change in product to make it
more easy to use. Hotpoint is involved in bringing innovation power and new ideas in their
products, because of this they are not having a single technique. Managers of Hotpoint keeps on
changing plans and strategies to execute new innovations in product. It helps in the company to
stay in market for long period (Fleming and Koppelman, 2016).
Managed passion: Passion is very important term in the form of managing team or staff
members in a well manner. In this employees are involved in the all activities like some which is
given by the managers and activities also. Employer engagement is very important for improving
their working performance with the lot of programmes or activities in the working place. Its
totally depend on the employees if they are satisfied with the company norms and policies then it
will easy for company to achieve specified goals and objectives in a good way. Managers of
Hotpoint should take care about passion of their superiors and helps them in enhancing their
productivity and creativity for generating new products of an organization. It leads to get
profitable results for an organisation and increasing profitability.
Lean production/ manufacturing:
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It is a methodology which is used for decreasing the waste and increasing productivity in the
company. Managers of Hotpoint makes innovative or various ideas and execute them on
different products to make an organisation profitable. Through using this process waste is
reduced at a very high level. As waste reduction is done using by this lean manufacturing so it
helps the company in educing overall production cost. There are some aspects of lean production
that is given below:
Value: It is a very necessary term which includes in attitude, quality or various methods
that is helpful for the company in a positive way. Products or goods provide by the company are
prepared on the behalf of consumer's need and requirement. Any organisation can make a perfect
value of its products in front of customers by providing them effective products with low price
also timely manufacturing the product and delivering the product at right time. Managers of
Hotpoint do a good research before launching a new or innovative product in the market.
Value stream: It is the series of activities making a values of the product or anything. It
is important for customers where they can get good product in a effective way. Value focuses on
the particular price or cost of the specific product so that it is the easiest way to understand about
the cost of product. As per this factor, managers of Hotpoint measures consumer satisfaction
after launching product in marketplace. The managers should not only focuses in launching the
product but also concerning on calculating its performance after delivering the product to the
consumers.
Flow: As per this principle, company is responsible for examining all level of wastage to
overcome uncertainties in the future. Managers of Hotpoint keep high efforts in minimising work
burden and offer good outcomes timely. They also follow breakdown structure at work area and
it enhance level of production in a effective manner..
Establish Pull: In this Hotpoint company, the managers evaluates inventory factor for
creating more effective and efficient outcomes in good budgets. The operational head formulates
the needs of raw material and tries to give effective products. In this managers try to minimise
wastage level and offer better output within the given fund.
Pursue perfection: It is a type of quality that is used for improving the quality of product
in a good way, so that it tries to do remove wastage from material and improve the quality with
effective essentials. It is not easy for all the companies to transfer their products in right time.
According to this managers of Hotpoint execute new or different techniques in their organisation
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to make customers happy or satisfied with company's product. Needs and requirement changes
every time due to changing environment. Managers analyse researches frequently in order to
know about requirements or demand of the customers and then try make changes in product
according to the customers. It maximise sales of the Hotpoint as well as making more profit in a
good way (Gilbert and et. al., 2015).
Six Sigma:
Six sigma is a concept that established in 1980 by Bill Smith which is a collection or
bundle of techniques and tools and helps in improving operations and their process. There are
two types of methodologies included in six sigma and they are DMADV and DMAIC.
DMAIC is used for improvisation in products of the company. This process is used when
a present product of the company can be improved for meeting consumer satisfaction. It explain
five factors like measure, analyse, improve and control. At the other hand DMADV is
methodology which is used to introduce a process or product which is not currently present in the
organization. It also determined of five phases such as define, measure, analyse, design and
validate. Hotpoint is going to launch a new product i.e. a Television of 58 inches therefore
DMADV is the best six sigma methodology for launching T.V. product in marketplace in a
effective way.
Define: It is a process or activity in which customer requirements identified and
calculated. The managers of Hotpoint implement various strategies before launching new
products or business venture in market. In present case study where it is introducing a new TV
in the marketplace, it undergoes research for knowing the customer's need and wants in a perfect
manner.
Measure: It is a process in which Hotpoint managers focuses on launch and manufacture
process of products and services in the market. The final evaluation includes in the number of
buyers in a specific locality. After knowing this, managers forms various measures to give
excellent quality products to the consumers.
Analyse: This process focuses on evaluation of problems or issues which is faced by the
company while operating. The managers have to implement attractive strategies to against the
issues and problems. If the company wants to maximise its market share it is necessary to
generate very good designs or shape in a effective way.
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Design: Hotpoint managers make effective or useful plans and strategies for introducing
goods and services according to the customer demand. This increasing sales of an organization in
a perfect manner. Further more, several ideas by which an organisation can maximise it's market
segmentation that are developed for competitive advantage in a dynamic business concern.
Verify: According to this last process managers of Hotpoint give surety that design of
their product or goods created by the customer needs and want in a very good way. It is
necessary for maximising profits of the company by giving products to customers according to
their demand and requirements (Glukhov, Ilin and Levina, 2015).
TASK 2
P2 Continuous improvement plan based on review and critique of operations management
principles within an organisation.
Continuous improvement plan
Companies used to provide quality products to people and for that they make continuous
changes in departmental units. For doing so research is conducted to analyse the demands of
customers. The managers and leaders of Hotpoint provides quality products to people by
preparing an effective improvement plan which is discussed below-
SOURCES PRINCIPLES OUTCOMES
Cost Six sigma
It is an form of amount that has
to be paid in order to gain
something. It is a monetary
valuation which includes in
material, resources, time and
utility consumed and
opportunities. The leaders of
XYZ company used six sigma
in their functioning and
operations to enhance its
efficiency. It helped the
company in accomplishing
business activities in given
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budget.
Quality Lean manufacturing
Managers offer new
technologies for making
changes in their products.
Customers become more
happy and satisfied when
products are new and
innovative. Lean
manufacturing is used in the
company for effective
outcomes.
Safety Fundamentals
XYZ company has proper
inventory management and it
helps in solving future
problems.
Delivery Organisation
The management of XYZ
company has better plans and
strategies to perform business
operations and give defect free
items to people.
XYZ is an organisation which deals with electronic products and devices so it requires
continuous change and innovation to retain customers. An improvement plan evaluates the needs
and demands of customers. Xyz company uses lean production and six sigma in its business
(Harrison and Lock, 2017).
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TASK 3
P3 Apply PLC to a given project for producing necessary supporting documentation for
completion of project.
A product life cycle is used by leaders of Xyz to determine the success of their product at
marketplace.
Initiation stage: In the initial stage managers analyse the needs and demands of
customers and then make product according to that. In context with XYZ it is launching a new
58 inches TV in the marketplace so they have to de research and know actual needs of customers
then they should introduce this product in the market. This will take around 1-2 months (Kerzner
and Kerzner, 2017).
Planning stage: Planning stage involves making of plans and strategies which are to be
implemented in organisation to make better results. Skilled workers are assigned to perform
activities towards achieving aims and objectives of the company. While introducing new 58
inches TV, managers have to manage the different roles and jobs to be performed. This stage will
take around 2 months (Kundu and et. al., 2015).
Execution stage: The managers formulate plans to attain organisational goals and
objectives. The managers are responsible for making new changes and innovations in the product
and for that they require good strategy. This will take around 3 months.
Closure stage: This is the last stage of project life cycle. This includes documents related
to the new TV which contains information of present as well as future scenario. It takes around
20 days.
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Gantt chart:
Gantt chart is a graphical representation that estimates the schedule of the company.
XYZ used Gantt chart for determining the time taken in performing different activities in
completion of this project. Gantt chart gives the start and end time of the task and gives an idea
to manager of how much time will be required in achieving the goals (Lam and Lai, K.2015).
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Business case
Executive summary:
The leading electronic company of UK XYZ is thinking of entering into a new business
i.e. Television business and for this it has to know the needs and demands of the people for
giving better results. The managers should achieve their goals and objectives in given time
frame. The new business of entering into TV business is an opportunity for the company to
maximise their profits. The managers and leaders of the company will have to undergo research
before launching the product. XYZ managers are about to make strategy to implement this
research.
Goal:
XYZ objective is to increase satisfaction among people with the products and services.
New changes and innovations are made in products to achieve goals and objectives. Efficiency
and productivity is enhanced by making an effective strategy and planning (Nicholas and Steyn,
2017).
Solution:
The solution for this is XYZundergoes a market research for knowing the actual needs
and demand of the customers. After doing the research and evaluation it is concluded that they
can launch the new product in market while following new changes and technology and
innovative techniques.
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