Analysis of Operations and Project Management in Business Context

This report delves into the core concepts of operations and project management, utilizing case studies of TK Maxx and Sunshine Drinks Company. It initiates with an exploration of operations versus operations management, evaluating the application of key operational management concepts such as modification, principles, variability, and organization within TK Maxx. The report critically assesses how effectively these concepts meet specific criteria, offering plans for ongoing growth and lean management strategies. Part 2 focuses on the project lifecycle, specifically applied to Sunshine Drinks Corporation's new product, including a business case and cost-benefit analysis. The report further evaluates the performance of the project lifecycle, examining various approaches for both large and smaller projects, before concluding with recommendations for both companies. The analysis covers project initiation, planning, execution, and closure, providing insights into the practical application of project management methodologies.

Operation and project
management

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Operations as compared to Operations Management..................................................................1
Evaluate and comment on the application of the concepts of operations management..............1
How well operational managing concepts satisfy the criteria.....................................................3
Plans for ongoing growth and lean management.........................................................................3
CONCLUSION and RECOMMENDATIONS...............................................................................5
PART 2............................................................................................................................................5
Project life cycle..........................................................................................................................5
Business Case..............................................................................................................................6
Cost benefit analysis....................................................................................................................6
Evaluation and Criticism of PLC Performance.........................................................................12
Various Approaches Used for Big and Smaller Projects...........................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
In a broad corporate context, projects managing relates to the comprehensive
implementation and scheduling of a particular initiative (Bouras, Kokkinos and Michos, 2020). It
is a vital duty which enables a company to execute its operations accurately, sustainably, and
effectively. Additionally, projects managing gives businesses the ability to properly evaluate the
viability and scale of their various initiatives, and also conduct a thorough examination of the
initiatives' long-term reliability. The TK Maxx and Sunshine Drinks Company-related research
that follows is split into 2 sections. The implementation of continual enhancement is covered in
Section 1, along with a discussion and evaluation of the efficacy of specific operational
managing concepts. While Section 2 goes into great insight on the projects life cycle and
evaluates it in a venture to see how successful it is.
PART 1
Business Overview
Established in the United Kingdom in 1994, TK Maxx offers a variety of goods for its
patrons, including shoes, apparel, home goods, mattresses, furnishings, etc. Throughout its
founding, the business has provided a wide range of high-quality items to clients across the
nation and abroad.
Operations as compared to Operations Management
All the actions and procedures that companies do to accomplish their corporate goals are
referred to as operations. The preparation, administration, and actual implementation of specific
organisational practices and methods that are linked to manufacturing, advertising, and other
duties inside the corporation are also included in the definition of operations management
(Chiarini and Vagnoni, 2017).
Evaluate and comment on the application of the concepts of operations management
There seem to be a number of efficient operations management concepts that must be
thoroughly examined in order to be properly understood and applied in an institutional setting. In
the example of TK Maxx, the corporation's distribution network and logistical are key business
activities, and the corporation devotes a fair deal of emphasis to making sure they function
effectively. The below describes how TK Maxx is putting operational managing concepts into
practise:

 Modification: To provide improved transportation and supplying network
administration, transformation is required as a fundamental operating managerial
philosophy. Moreover, they might aid in achieving good and on-time supply of their
goods to clients with innovative ideas and concepts. To cut down on carbon footprints,
TK Maxx follows a conventional method that involves resource collaboration with other
shops. Notwithstanding the existence of various and superior techniques, businesses opt
to supply their services using a standardized strategy because doing otherwise would
increase costs overall.
 Principles: This operational managing principle states that in particular to achieve the
highest quality of the system, specific rules and principles should be strictly followed. TK
Maxx, in its transportation and supplier chains administration, adopt “ecofriendly” phrase
as a foundation to assure greatest security to environmental and improved sustainable
development. Therefore, adoption of this idea is successful inside the business (Cohen,
2019).
 Variability: Every procedure the organisation uses is based on this operational managing
premise. Yet, this concept must be monitored and regulated in terms of reduction. To
assure that this concept is successfully applied in supplying network administration, a
number of actions, including cost-cutting initiatives, should be implemented. In the case
of TK Maxx, the corporation manages its supplies completely that can raise the price.
This is due to self-management will need hiring additional workers that is expensive
given the expenditures associated with their education and growth. Because of this, the
company's implementation of this operation is ineffective.
 Organization: As per this theory, operations should be properly structured into an
unified unit in order to maximise productivity and revenue. TK Maxx uses a variety of
techniques to start managing the supply network and procurement, including composite
waggons including the utilise of dual-fuel automobiles. However, these techniques are
hard to arrange since it is challenging to start managing various processes with the same
efficacy, making the organization's utilisation of these techniques very inefficient.

How well operational managing concepts satisfy the criteria
To determine the extent whereby the operational managing concepts are being applied
inside the organisation, TK Maxx must properly evaluate its execution of the standards.
Following is a discussion of the assessment of the same:
 The company also has a need for operational uniformity (Dogru and Keskin, 2020). The
organisation engages in a variety of operations related to supplier network administration
and transportation that makes it challenging for the business to execute this concept
successfully. This is due to the reality because each task does have its unique collection
of criteria therefore makes it difficult to carry out the organising concept.
 Making ensuring that the finest strategies and procedures are applied to handle the
company's distribution network is another essential. The business, meanwhile, embraces
the idea of transformation and advocates for novel logistical methods. However, due to
continual industry advancements, the corporation must implement this idea to its supplier
network administration more regularly. As a consequence, these conditions are satisfied
to a considerable level.
 In order to operate more cheaply, TK Maxx's main need is to cut costs. Regarding the
variation concept, the company is utilising the similar approach to increase the diversity
of products they sell, such as a wide selection of apparel, furnishings, etc. Yet, because
this technique is used to enhance variability instead of cut costs, it's doesn't help the
company lower its costs. As a result, this concept doesn't really satisfy the needs of the
business.
 Further necessity of TK Maxx is security, which is why the company effectively applies
the basics approach in order to guarantee it. Every worker is held to the same security
regulations with reference to their own security and wellbeing of the business. As a
result, this concept effectively fulfils this condition (Ferro, Ordóñez and Anholon, 2017).
Plans for ongoing growth and lean management
To guarantee continual progress in all of its supply chain-related procedures, TK Maxx
must execute a continual enhancement strategy. A comprehensive list of all the activities
intended to produce a constant and high production is referred to as a continual enhancement
strategy. Another of the key strategies the company must employ to guarantee successful and
ongoing growth is this. Lean Thinking is one approach that can be used to achieve this. This

approach focused on carrying out tasks and processes in a manner that eliminates wasteful
actions and thereby increases efficiency. It is composed of 5 concepts: valuation, value
generation, flowing, pulling, and excellence. Each of these concepts is linked to minimising
wastage and boosting production. Yet, in order to significantly increase the efficiency of its
logistical and supplier network administration, TK Maxx must create a continual enhancement
strategy. This strategy is described beneath:
Basis Current methodologies Proposed methodologies
Costing The variety of the line of
products is used to execute the
concept of variability instead
of the pricing and effective
management of activities
(Forgacs, 2010).
The business should employ
variation to lower costs, and
robotics should have been
employed as a means to handle
the operations that could lower
employment costs.
Qualities In order to ensure excellence
in transportation and supplier
network administration,
strategies like dual-fuel and
hybridization cars are utilised
because the organisational
concept is not successfully
applied.
It is critical for TK Maxx to
plan out every step of the
supplier network
administration process in
addition to guarantee
excellence. The organisation
might employ the Just-In-Time
approach to achieve the
highest level of excellence in
transportation in place of
employing other methods.
Deliveries Transformation as a concept
wasn't really applied correctly,
as well as other merchants
contributed capabilities to
meet efficient distribution.
The company needs to make
organisational changes, and
rather than shared capacities
with other shops, they might
supply their products via
various means of
transportation like aviation,

railway, and shipping freight
(Grimmelikhuijsen, Tummers
and Pandey, 2017).
CONCLUSION and RECOMMENDATIONS
There are a number of suggestions the company might implement to assure development in
operational activities, according to the evaluation of TK Maxx's operational management
concepts and continual development strategy. The following are these suggestions:
 As a result of technological improvements, TK Maxx is forced to employ cutting-edge
techniques like robotics and digital learning to maintain a cost-efficient and high-quality
organisational framework.
 Just-In-Time stock can assist the business in assuring consistency in business processes.
This indicates that stock will not be held for more than three days following the order.
Additionally, doing so will reduce overhead expenses that could enhance supplier
network administration and transportation (Jogaratnam, 2017).
PART 2
Project life cycle
The Sunshine Drinks Corporation intends to successfully add a different kind of energetic
beverages for their clients by combining their varied selection of beverages with the pure well
freshwater they presently sell. Sunshine Energy will be the name of this new line. The firm's
initiative demands them to operate efficiently throughout each part of the project life cycle that
comprises all the phases connected to a project's timeframe from its inception to its conclusion.
The corporate instance and project life cycle for Sunshine Drinks Corporation's new good or
service are as follows:
Significance Sunshine Energy is created by combining a
variety of beverages with pure well freshwater,
both of which have numerous medical
advantages, including improved cognitive
ability (Kaun and Uldam, 2018). Additionally,
it eliminates the medical risks associated with
caffeinated and organic sugars thanks to the

organic taste provided by berries.
Business Case
Customer Base The broad population in the United
Kingdom between the ages of 18 and 50 who
earn and over £1000 a year, are wellbeing, and
regularly consume beverages will be the core
demographic for the new product (Marin-
García and Alfalla-Luque, 2019).
Cost benefit analysis
Particulars Situation 1 Situation 2
Costs 100000 120000
Benefit 0 20000
(BEP point)
Project initiation: It is the first stage of the project life cycle. At this phase, Sunshine
Drinks Corporation must decide the venture's goals as well as evaluate the program's prospects
and risks. Company is essential to evaluate the total idea based on both its worth and viability. In
order for the business to satisfy customer wants and produce variables that contribute to
possibility assessment, proper thinking is necessary.
Tactics In order to achieve the similar goal, this
business will create a premium beverage and
engage in active online networking promotion
and branding. Furthermore, the business will
market this item using a pricing penetrating
approach (Müller and Birkel, 2020).
Goals Sunshine Drinks Corporation hopes to improve
its competitive place with its innovative item
by at minimum 4% within the next three
months after its release. Over a year of making
and selling its beverages, the business likewise
intends to grow its consumer pool by 15%.

The project administrator must present the document for clearance to senior
administration. Technologies including Windows Projects 2019 Professionals can be used by the
business. Additionally, the Six Sigma Technique might be used at this point, enabling the
company to do a deeper preliminary design. This approach is being used because it will assist the
company establish objectives and find ways to lower operating costs, which will increase the
venture's viability. Leadership-wise, the company may benefit from transformative management.
This is due to the fact that it will contribute to the development of a cohesive program concept.
Program Management: The program's subsequent phase will focus on the general
strategy of Sunshine Drinks Corporation's innovative item creation. The program supervisor and
development group must develop a thorough strategy following executive approval. In order to
determine what assets are required to be used for the work, they will have to evaluate the
capacity shortages (Ng, Henshaw and Carter, 2017). In this phase, program plans and flow charts
will also be developed, together with budgetary estimates and financial forecasting. The
Sunshine Energy initiative design is shown below:
Excellence The company will be investing in new
technology, including robotics, to assure the
best production without compromising the
excellence of the creation of innovative
products.
Range The venture's total reach is broad because the
corporation is prepared to hire bright people as
well as innovative tools and procedures to
guarantee a high-calibre and long-lasting line
of products.
Costing It involves spending money on the materials,
labour, and technologies needed to create
Sunshine Energy. The total expense of
developing a unique item will be between
£90,000 and £110,000.
Communications To maintain a continuous and efficient flow of
data, the company will engage in interior,

exterior, horizontal, and also longitudinal
communications during the expansion of
Sunshine Energy (Palšaitis, Čižiūnienė and
Vaičiūtė, 2017).
Sunshine Drinks Corporation can apply lean concepts at this point. The reality that such
concepts are linked to reducing wastes, which really is essential in preparation phase, and will be
significantly assisting in the creation of the innovative item by business, might be evidence of its
efficacy. When it comes to management, Sunshine Drinks Corporation might employ
authoritarian style, which might enable the plan management to assign duties and obligations to
their workers in an effective manner to guarantee that they are carried out as effectively as
possible. As for technologies, the Work Breakdown Framework and Gantt chart can assist the
company in creating a strong system and timeframe.