Project Management Report: Project Selection, PMBOK, and R&D Processes

This report provides an in-depth analysis of project selection methods, focusing on the case study of Singular Logic and its use of Research and Development (R&D) as a project selection approach. It explores the processes involved in conducting R&D, framing it within the context of applied marketing, including aspects such as generation of new ideas, screening and testing of ideas, business analytics, marketability tests, technicalities, commercialization, and product launch. The report further examines the Project Management Body of Knowledge (PMBOK) and its application to the project, specifically focusing on the initiation process group, including the development of a project charter and identification of stakeholders, along with the importance of project documents. The report concludes by emphasizing the significance of product management in organizational success and highlights the role of PMBOK as a guideline for effective product and project management.

Running Head: PROJECT MANAGEMENT
PROJECT MANAGEMENT
Name of the Student
Name of the University
Author Note:

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TABLE OF CONTENTS
Introduction................................................................................................................................2
Identification of project selection method..............................................................................2
Discussion..................................................................................................................................2
Processes to conduct Research and development..................................................................2
Project management body of knowledge (PMBOK).............................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

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Introduction
Identification of project selection method
In the given case study, the process mentioned for project selection is R&D. R&D
stands for the process of research and development by the company performing for obtaining
new knowledge to adopt new technology, service, product, or system the company want to
use or business with. The aim of this process is to provide strength to the bottom line of the
company. Research and development are the process that is suitable for companies
irrespective of the domain, size, and organization culture (Nicolaou, 2014). The nature of
research is applied in nature that helps a company to gain knowledge but it does not research
about the specific application procedure suitable for the business. The process of research and
development is performed with a specific goal, utility, product and thinking about the
business to grow further. The company Singular Logic possess 23 full time staffs for
performing the tasks related to research and development. Along with this, there are 20
contract-based employees working for the company for the same department. They maintain
a cycle for the new product launch depending on the nature of their client with the approach
of applied marketing. Hence, research and development are an applied marketing approach
that is selected by the organization to business effectively.
Discussion
Processes to conduct Research and development
As mentioned, Research and Development is the process of applied marketing.
Gopalakrishnan et al., (2015) defined the term applied marketing with its connection with
marketing research. The term applied marketing research refers to the process of gathering
information with actionable outcome that ensure customer satisfaction. There is an analytics

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associated with this applied marketing research. The applied marketing analytics is also
including the process of advertising procedure to promote the business online and offline.
Another aspect of applied marketing is effective communication. It is commonly
known as the promotional initiative taken by the organization and generate greater company
remuneration (Paz, & Pow-Sang, 2016). The applied marketing communication is for
attracting the target market by the use of marketing tools. These tools are effective to attract
the audience who are potential for the products the company want to launch. The applied
marketing communication depends on the methods of personal communication, publicity, and
advertising (Goldsmith & Yimin, 2014). The concept of Personal communication – it is refers
to the process of oral communication that can be an important part effective for complete
marketing. Secondly, advertising – refers to the communication procedure to promote the
business on different promotional platforms. Public relation is also another process for
applied marketing procedure that generate awareness about the product or service to the
potential consumers for the business (WITEK, 2016). Finally, direct marketing is the way to
reach the market and measure the receptiveness with the lowest cost that can serve both the
purpose of business and advertising.
Being the most effective part of Applied marketing, the process of research and
development also observed with various steps to be followed to make it an effective one.
Considering the case of Singular Logic, they consider the research and development as the
most effective way to promote their business and reach out to their potential consumers. The
process of research and development include the following steps –
 Generation of new ideas – it is the responsibility of the research and development
team to generate creative ideas for the company. Here the team will think about the
software services and will identify the most unpleasant things associated with the

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service. Hence, the research and development team firstly identify about the issue of
software industry faced by the consumers of that particular geographical location
(Zhou & Wang, 2014).
 Screening the idea – Singular Logic is stronger enough comparing to the other
companies located at the same geographical location. Screening the information
refers to set the particular criteria for the information that will be continued or
rejected. The team will adhere to the agreed criteria to enhance the poor projects to
bring back in the desired position. In this step, Singular Logics will measure their
market share and the benefit they will provide to their consumers.
 Testing the information – after screening the information, the team needs to test the
potential concept identified through the screening procedure. An effective research
will design with diligence and involve other potentiality to be added with the new
product development (Šramová, 2015). The team will identify the best marketing
messages that will best work for marketing the product by measuring it with various
technologies.
 Business analytics – as mentioned applied marketing is associated with effective
analytics. Research and development is highly required for developing new product
and promoting the product into the target market. Hence, the research and
development procedure includes the process of building a metrics to track the
progress of the entire procedure (Shapiro, Dentcheva & Ruszczyński, 2014). Input
metrics that measure the average time required for each procedure of the entire work.
It is an important aspect for the organization to develop an agreement for these
metrics and criteria.
 Test for marketability – this is the process to arrange the test group which is unique
for every organization. the test panels is important for every product launch and the

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products also need to be tested by the R and D team. It is the testing procedure to
measure the marketability of the product need to be promoted by the organization and
the team as well.
 Technicalities – after measuring the marketability, the team need to research about
the technicalities of the product along with the development of the product. It
provides the analysis of the technologies associated with the product development
(Fahy & Jobber, 2015). Technology is the easiest way to manage any procedure
including research and development, advertising, and other method of applied
marketing.
 Commercialize – this is an important step included in the process model of research
and development. The most important technology associated with research and
development is the use of internet. It is the most important platform to investigate
about any particular geographical location and the need and interest of the
consumers. And commercializing refers to the including the procedure of research
and development in the mainstream. Here the team will identify the process of
purchasing procedure of goods and service with proper technical support.
 Product launch – this is the final step of the entire procedure of research and
development. After all the conducted steps of research and development, the last step
is launching the product according to the need and requirement of the customer. All
the included steps of research and development is aimed at this final step of product
launch to the target market.
It is important remember that the entire procedure of research and development is not
properly bound with each other. These are not the prescribed steps or universally
acknowledged steps for research and development. Organizations follow their own business

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trait to conduct the research and development procedure to target the market and generate
remarkable amount of remuneration for the organization.
Project management body of knowledge (PMBOK)
The project management body of knowledge refers to the set of standards and
guidelines included for project management (Karaman & Kurt, 2015). The latest edition of
this managerial guidelines evolved in the year of 2017.
Initiation process group
According to PMBOK, the initiation project group refers to the process included in
starting a project. The purpose of this group is to develop a charter for the project and
identification of the stakeholders (Rehacek, 2014). These are the tasks associated with the
initiation process group.
 The first component is project charter that refers to overviewing the project. In this
field, the Singular Logics needs to overview the approach of R and D as an effective
method for product launch.
 Identification of the stakeholders, refers to identifying the groups directly linked with
this project (Rehacek, 2014). On the other hand, it also implies the interested group
for this product launch or promotion of the service.
Project documents
Project documents in PMBOK refers to project charter, statement of the work,
requirement, contracts, and the register of the stakeholders. Along with this, the documents
include register of the change control, risk register, and issue log or other related documents.
These are not necessarily included in the project management plan however, this is an
important part of the development and product management procedure (Parra et al., 2015).

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There should be a formal approval for the project management that is also considered as an
important document for product management (Jamali & Oveisi, 2016). On the other hand, the
produce manager or the leaders need to conduct fruitful meetings to assure an effective
product management procedure that will end up in effective product launch procedure.
Conclusion
As a conclusion, it can be said that, product management is an important part of
organization management. Singular Logic considers the procedure of research and
development as an effective way to manage a product following some effective procedure.
The product management body of knowledge is the guideline that helps the managers to
understand the effective areas to be considered for managing any product and target potential
customers for the business. It is also an effective way to promote the business and generate a
global concern about the organization.

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References
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Goldsmith, E. R., & Yimin, Z. (2014). The influences of brand-consumer and cause-
congruence on consumer responses to cause related marketing,“. Journal of Applied
Marketing Theory, 5(2), 74-95.
Gopalakrishnan, M., Libby, T., Samuels, J. A., & Swenson, D. (2015). The effect of cost goal
specificity and new product development process on cost reduction
performance. Accounting, Organizations and Society, 42, 1-11.
Jamali, G., & Oveisi, M. (2016). A study on project management based on PMBOK and
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Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince
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Engineering Research, 4(4), 572-579.
Nicolaou, K. C. (2014). Advancing the drug discovery and development
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Parra, K. F., Saroza, A. G., Martínez, Y. R., & Bello, I. P. (2015). PMBOK y PRINCE 2
similitudes y diferencias. Revista Científica• ISSN, 124, 2253.
Paz, F., & Pow-Sang, J. A. (2016). A systematic mapping review of usability evaluation
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Engineering and Its Applications, 10(1), 165-178.

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Rehacek, P. (2014). Standards ISO 21500 and PMBoK® Guide for Project
Management. International Journal of Engineering Science and Innovative
Technology (IJESIT), 3(1), 288-295.
Shapiro, A., Dentcheva, D., & Ruszczyński, A. (2014). Lectures on stochastic programming:
modeling and theory. Society for Industrial and Applied Mathematics.
Šramová, B. (2015). Marketing and media communications targeted to children as
consumers. Procedia-Social and Behavioral Sciences, 191, 1522-1527.
WITEK, L. (2016). Cause Related Marketing: the demographic-social qualities of consumers
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