Managing a Successful Business Project Assignment Help

Managing a Successful Business Project Assignment Help

Introduction

In this report they have to discuss some of the important points which will make the business projects easy. In this report They have also discusses what are the important project management processes. Globalization is involving other foreign countries in the business by either hiring people or taking raw materials for the products also discussed what are the factors effecting the project management.To manage a successful business there is need of understanding problems and drawbacks of organization and learn about the scope of business in future about demands of customers in managing the concept of globalization.The importance of Work breakdown structure and Gantt chart to explain the importance of business projects. They are working on London fashion week will be on 16thFebruary to 19th February2019 where they must launch a new product show on a new brand. He is the product manager Fila shoe company.

  • Establish your aims and objectives for the project. Outline objectives and timeframes based on the scenario set.

The aim and objective are too mandatory to achieve a goal in a particular project. The project aim and its objective are set up by the project manager; it helps the manager to make a better plan in an easy way to finish the project. A primary goal for the private sector is to earn a profit for their business by fixing goal; some other aims are like to achieve a sustainable position of business in the market. Total expensive to spent on the aim to achieve specific goals. The British fashion brand of London. The Burberry started a project for improvement and maintains improvement in local communities by setting an aim and objective to achieve a clear goal for it. The aim and objective are mentioned below-

Project aim- Fila is planning to launch new summer shoes in the market where there is already influence of other big brands. The aim of the project is to establish new market for their brand new shoes by launching it in London fashion week. This project helps the company to about the attractiveness and advantages among the competitors by gaining the attraction of people through such projects and activities, helping the company to take place globally and increasing its brand value. The company have to set specific goal to launch product by following business strategies and managing successful business projects.

Project Objective- Objective gives a clear direction to follows specific steps for the succession of a project carried out by an organization; an objective for a project is established in various steps for creating a framework for achieving the desired goal of the project. The company has set an objective of the project; the company wants to gain an advantage in competition with other competitors to place the business in a new market. The company must ensure the quality of their project and about the capability of cost for new project and resources which are needed in the project. The company must analysis their project about the advantage of it and involvement of people and their reaction towards it, if there is recommendation for change than company have to implement those changes.

  • Produce an appropriate project management plan that includes relevant actions to meet objectives and timeframes.

Management Plan- Project management plan includes strategy, ideas, skills, activities, techniques to meet project objectives. Management Planning is a process (a set of steps and levels which are needed to gain the result of the project) and steps which are useful throughout in the whole project to achieve its output. The main objective of the Management plan is to run the organization in a systematic manner by explaining the project aim, objectives and goals. The following elements are needed for a proper management plan-

  •   Costs – Cost is an important element of the project, the approximate cost is required for the project like payment to employees, travelling, Raw materials, administration expensive, organization insurance, communication charges, promotion charges.
  •   Scope – Project scope is essential to set the goal of organization project. The project scope includes planning of the project, its future scope the project, and the basic needs of the projects.
  •   Time – Time is always an important specification for the business project. Project time includes the total time to complete the project. A Time limit is set for starting of the project and to end of the project to achieve the project goal on time.
  •   Quality – Organization must ensure the quality of their project because the project is like be a promotion for business among people and competitors. 
  •   Communication – Communication is key to do best for the project. Communicating with the people and stakeholder involvement in the projects ensure the main strategy for the succession of the project.
  •   Risk – Every business project has some risks. The organization get advantage from the project but there are also some risks of it due to the failure of a proper management plan, limitation of cost, time, failure of involvement of volunteers and governments.
  •   Resources – Resources includes the experienced staff, skilled human power involvement and proper and required investment and the positive attitude of the management in the project.

Business implementation Plan – Business implementation plan is defined as to increase business effectiveness by using some strategy and methods. Breakdown structure and a Gantt chart are explanation methods of working task in management process. Brief explanation of Gantt chart and Breakdown structure is given below-

Breakdown structure – As the name indicates itself to breaking of task in subtasks, so execution process become easy. Breakdown Structure is used by various organizations to carry out their business operations by dividing task segments in groups and subgroups so it became easy to manage. The Break down structure is very important business implementation plan.

The project is launching of a new shoe by Fila shoe company in London fashion week.this event is very crucial as many fashion enthusists will be coming to see what new coming in the fashion sector.

A proper management plan is been made by the upper management of the Fila shoe company to launch the new shoes in the London fashion week and also to make a forum to maintain and take feeds from the old loyal customers of the Fila.

Schedule of project – Schedule of project is brief statement of the tasks and activity of particular project like when task is started and date of completion of task. Schedule of project is also defined as to state duration of completion of task.

Activity NameDurationInitial DateEnding Date
Project Initiation14 Days22th December 20194th January 2019
Market Investigation6 Days22nd December 201827th January 2019
Portfolio Assessment5 Days27th  January 201931st  January 2019
Idea Generation2 Days31st  January 20191st January 2019
Project Planning9 Days2nd  January 201910th  January 2019
Product Scheming3 Days2nd  January 20194th  January 2019
Material Preparation2 Days4th  January 20195th  January 2019
Budget and Risk Preparation4 Days5th January 20198th  January 2019
Development21 Days9th  January 201930th   January 2019
Product Manufacturing14 Days9th January 201923rd  January 2019
Product Testing8 Days23rd  January 201930th  January 2019
Project Closure21 Days30th   January 201920th February 2019
Product Completion12 Days30th   January 201912th February 2019
Induction of the Project4 Days12th February 201915th February 2019
London Fashion Week5 Days16th February 201920th February 2019

The execution plan of the Fila project implies the plan when the scheme will work in actual terms. The execution plan includes the actions and in how much time they will be completed separately. A project management tool named Work Breakdown structure is used for screening the time schedule and ordering of the doings involved in the project of Fila. WBS is a division of the entire project into the units that are not only controllable but also small for easy conclusion. Resulting is the WBS of the project of Fila:

Gantt chart 

When the project schedule activities are represented in systematic and graphical way by giving a clear description of different task performed at which time. To represent activities in Gantt chart, there is need to make a project schedule activity to define activities in clear way. 

The project Management plan is set of instruction or rules (maybe formal approved document) which define executions, monitoring, and controlling of a project from its initiating to its closing in a proper manner to achieve a specific goal. The quality of The project is directly linked to the quality of the project management plan. Milestone schedule in the project management plan indicates towards the responsibility of management, deadlines of the project, real budgets. Milestones help to be on track and complete the given project on time. Milestones table sets management plan for monitoring and completing aim into practical, concrete terms, project deadline and responsibilities in tabular form to help on concentrating management plan. Monitoring and completing the aim and objectives of the project is to monitor the performance of the project about its complexity and approach of the project among the people and competitors. 

  • Conduct research to generate knowledge which will form the basis for analysis of the scenario posed in the brief.

Project management process is the collection of some process which is used to managing a project in a systematic manner. Project Management process collections are divided into five groups for understanding the proper concept of the project management process. Five process groups are initiating Process, planning process, executing a process, Monitoring and controlling and closing process.

Figure 1: Detailed Planning

(Source: logical, 2018)

A Small scale research has been conducted by the management of Fila before launching the new shoe launching to take the feedback from the loyal customers of the company.

Research conducted to analyse the kind of customers Fila has which category of shoes are been mostly liked by the customers.

According to this small scale research it was found that most of the customers out of all like the Sneakers category shoes of Fila and they disliking the Sports segment according to research as they are costly and are not very comfortable to wear. A fabric improvement is required in the sports shoe segment.

Questionnaire

    1What type of shoes people want to wear?

Court

T-bar

Flat

Sling back

2.Organization offer personalized or customized footwear

Yes

No

3.What are the main factors if you switch to buy the footwear of another brand?

Quality

Price

Innovation 

Advertisement

Others

4. Have you bought any footwear influenced by any ways of marketing or branding program?

Yes

No

   5.The most appropriate channel for promotion of new shoes.

    Television

    Social Media

    Print media

D)Analyse your findings and conclude and give recommendations:

The Fila shoe company will be going to launch their new sneaker shoes in the February week in London fashion week. A small scale research has been conducted recently to prioritize the categories of the shoes. There are certain finding been made as Sneakers are the most loved Category.

So the research suggests and recommends Fila shoe company to launch a sneaker as in this recession period and low market period a launch of a shoe which is not too famous among fila lovers would be risky.  

1.What type of shoes people want to wear?

Court30
T-bar20
Flat10
Sling back40

In these analyses, the customer can mostly like the choice of their own or by recommend by others.

2.Organization offer personalized or customized footwear

Yes60
No40

We can analyses about the organization; people understand what they offer to their customer.

3.What are the main factors if you switch to buy the footwear of another brand?

Quality40
Price10
Innovation20
Advertisement20
Others10

In this analysis, we analyse that customer first priority towards quality of shoes.

  1. Have you bought any footwear influenced by any ways of marketing or branding program?
Yes70
No30

In this mostly customer influenced by the branding or marketing. It creates trust towards the quality of item.

5.The most appropriate channel for promotion of new shoes.

Television40
Social Media50
Print media10

In these analyses, the company can refer to marketing about the creation mostly on social media. After that, television and print media. 

The conclusion of the Analysis

In this, the analysis is given about the entire performance of the corporation and getting the response of the customer about the product. Here the corporation should build a product shoe for seasonal and how they can make it better than the other business to attract the customer by giving a eminence product at a sensible price.

The analysis of the business plan using qualitative and quantitative research:

The validity and reliability of any project is to analyse two basic things: qualitative research analysis and quantitative research analysis.

 The qualitative research helps to analyse the confusing and unsolved difficult part in the research. The qualitative research is used to generate research. Being product manager qualitative research is required to launch a new product as same kind of shoes not be available already in the market as it will not attract the customers. The important concepts are validity and reliability. The research should be valid and it should also be reliable in context of the business plan. 

Qualitative research: In qualitative research an open-ended plan has been developed to target the basic aim of the project. There are following two types of data collected in it. Primary data and secondary data. The online interview will collect the primary data. The senior manager will take the telephonic data. The primary data will be collected via Google forms etc. it is not that much important for any research in a new shoe product launch.

One on one interview: Re-branding is generally a very difficult task to actually conduct as rebranding can involve new recruitments for the new products so which require quality employees who can work in good ethics. Direct one on one interviews are more personal kind of interaction where a participant chosen by them can speak more candidly and the interview. They can connect easily with the view of the candidate.

This is very important part for a business which is going to re brand them as the person whom they are recruiting should have the ethics and knowledge on the new product which the company is going to produce.

Mixed methodology: There are some advantages and dis advantages of the qualitative and quantitative research. By qualitative research a person can understand the positives a negative of a business plan.

The Benefits of qualitative research are:

  • It tends to record the audio which makes it easy to analyse response.
  • It provides you the privilege to access and explore multiple topics.
  • Qualitative research tends to be cheaper for an organisation as for mass recruitments it will be costly to conduct.
  • It can be undertaken as they have no need to conduct large interviews in single time.

What is quantitative research?

A small business firm which has clear on what are its needs they use quantitative research as they requirement are the numbers not the kind of people. It can be paper based such as survey or telephone call.

The Benefits of quantitative research are:

  • It allows busy people to give privilege or permission to provide or collect data in very large volume. The analysis and surveys can also be conducted in speedy way.
  • A detailed set of information in large volume can give you a good amount of confidence while setting future goals.

E)Present and produce your project in an appropriate manner for the intended audience.

This process connects the activities of the project and makes it easier for the project manager to manage and control the project. Initiation will involve researching and evaluating existing product and idea generation while planning will implement product design along with planning of materials, budget and risks. The execution phase consists of product manufacturing and testing. Product finalization, launching and London Fashion Week will constitute the closure phase. 

Mixed methodology is one of the effective research ways for collecting data. For conducting the research, Fila Shoe Company has developed questionnaires for collecting the data for research analysis.

The questionnaire contains 5 questions regarding the project of introducing the new summer shoe in the market. The questionnaires were given to various customers of each class and their responses were taken.

As per the analysis made from the data collected by the research, majority of customer feels that the price of the new summer shoes should be affordable price. Competitive pricing strategy was the least selected pricing strategy. As per the analysis, Fila Shoe Company should adopt affordable pricing strategy.

The report has provided a detailed project management plan of File Show Company. The company should focus more on conducting market research using qualitative and quantitative research methods for gaining more accurate and detailed information. 

There are mainly two types of methods of research: qualitative research and quantitative research. This comparison is important because as a product manager of a shoe company,shoe are something which people buy if they like, so the likings of the people  in UK should be considered.

There are 3 platforms where these two research methods can be explained and compared.

  • Validity
  • Reliability
  • Accuracy

Validity: Validity in qualitative research says “appropriateness” of the process and techniques. Whether the research query is appropriate for the given provided question, the choice of methodology is correct with the given data analysis. The concept of “individuals” is different in different fields. Where humanistic group of psychologists believes the humans are the existential and social awareness. 

Reliability: The research which will be conducted should be reliable to the shoes product to be launched and research should be conducted to analyse the kind of people the age group been attended in London fashion week.

 In qualitative method reliability means the exact repetition of a kind of quality of a kind. Reliability lies with the consistency. There are 5 approaches to enhance the reliability such as use of tables, data comparison etc. the scope and analysis of the data should be comprehensive and reliable   in context quantitative aspects. 

Accuracy:

They compare qualitative and quantitative analysis in terms of accuracy, then qualitative analysis is more accurate in business planning because in qualitative research the needs or requirement of the organisation given the priority so more accurate person is required which can fulfil the needful.While quantitative survey or research does not require these.

There are basic two analysis tools have been used in the research process. The transcription data process analysis has some advantages and disadvantages also. The transcription process reduces the demand of fashion business plan.

The encoding type of data analysis has some good and bad features. By encoding data analysis, a good speed can be maintained by the researcher but the process will reduce storage space of the product. It will also increase the accuracy of the process and increase the market selling of the shoes. But the encoding process can destroy the relevance of the data.

F) Communicate your recommendations in an appropriate manner for the intended audience.

Fila are the shoe fashion company which wants to cover the market of the fashion world. They need to communicate with the customer by advertising of the product which they can produce After analysing all the data, the organization has come to a point that if a shoes company or organization has become highly ethical or highly socially connected then the bonding .They the colleagues and managers can be improved. This will also positively affect the total production area of the company. In this fashion world company has the main aim to compete with the competitor and customer can like the product what they can sell. For cover and sell the market, they need to focus on plan what they can implement, how to create the coordination between the process and product. If the product can satisfy the needs of customer then they can easily attract from the company. From this, they will make a more efficient and effective product as compared to the past product. In this survey, they can give a fine product and also know about the new demand for the product as customer need

Steps to evaluate decision making process:

  • Once when you clear all the data and understood the process they should start finding and identifying the alternatives of solutions. There are many kinds of ways to reach a solution so They have to understand all the alternatives.
  • Weight the alternatives: They should analyse and evaluate by acceptability, desirability to know the best alternative. And then select the path which has the highest chance of success. Weigh the pros and cons and try to neglect the cons.
  • Choose among alternatives:  while choosing the best alternative they should know which alternative is best suited and should also know that they should not hinder our project with the risk involved.

Recommendations for organizations

  • Skilled employees – To Manage successful business project to enter in a new market and taking competitive benefits from other organisation, there is a need human resources who are skilled and experienced in the relevant field.
  • Legal advisory – The organisation have to complete all legal procedure which are mandatory for the initial starting of a new project, so it will not become a matter of objection in future.
  • Budget – Budget is one of the main require feature for the new project, the management makes sure about the required budget before implementing the program. 
  • Product Customization – The quality of the product or service provided by the company must be on the standard parameters. 
  • The Good Hotel of London has to follow these recommendations for managing a successful business project by managing the quality of their services.

The qualitative and quantitative analysis both are important for any research in the business planning. Data analysis shows that if a company has to stay in the market for a long run that company has to be socially They will connected and also should be working in the ethics of the organization. The company should be working towards the aim and objective of the company and also good ethical work will also improves the employee and employer relationship.

Project management plan: There are many big and small advantages of a project management. A project management defines the reliability and scope of the business plan. The plan also finds out some major perks and limitations of any project. By the project management the manager can understand risks involved in the project. There are also certain limitations of any project such as: miss directing of any project, probability of any project etc. to establish the fact that the research is going in the correct way the project managers will conduct some small-scale research mainly on two bases the qualitative research and the quantitative research. 

G). Complete a performance review that addresses the following: 

The Organisation considered various things after undertaking research work on the project.  The research work gave lot ideas to the organisation to gain a sustainable development in the market and be strong in competition with competitors by using the base of globalisation. In the undertaken research project of The Good Hotel, we clearly stated that the tools and techniques of research methodologies must be used in a proper and inefficient way so it easy to achieve the aim and objectives of specific goals for organisation success. We learn lots of things from the undertaken project which are as follows.

  •   Control on cost – Cost is the main fact of a project, the research thought ideas and techniques to cost control.
  •   Communication skills – It helps to makes better communications skills with clients.
  •   Negotiation skills – It helps to learn about ideas to manage stakeholders and to make better deals with clients.
  •   Skill to manage Risk – The project helps in learning and facing risk in proper manners so project meets the objective.

The project was to acknowledge and get the feedback of the people attending the London fashion week as Fila is launching the new shoe category and they are very looking forward towards it. The London fashion week is a prestigious week for all fashion enthusiast and brands as it is the best way for any brand to connect with their customers one to one.

The Fila has arranged a forum also about the issues and problems they are facing also to take reviews from the customers. Reviews have been taken on forums about their new and old shoes. Performance review has been taken some of the proto types are also showcased some are based on old and some are newly based.

The forums and reviews of the customers help any brand or organisation to work accordingly so that they can improve their performance and future products. Taking feedbacks of any product is very crucial part of any organisation future aspects.

b) . Your own performance.

 

ProficiencyHow I have settled in this areaWhat I need to do to progress further in this area
Logical skillsWe can do the development in the plan which will we make for the future.We can increase the analytical person which can analyze the market feedback.
Investigation skillsWe can break the task in parts which they can achieve.I can prefer qualitative researcher which can give the more efficient result.
Planned skillsBy getting better message with the customers and provide them with a good product.Get experience person for strategic planning.
Project preparationBy rising the worker opinion.Analyze what the need of the customer and make the plan.
Statement skillsUpsurge the skills of the employees.Give the training to the employees.
Report writingGet a correct report of the examination record (Hodgson and Paton, 2016).We can develop by analyzing the places where the customer is more.
Crew buildingSelect experience person which already do the work in a team.Analyses the person from a different department and develop a better team.
AllocationGet a powerful manager which can give a good result, develop people.The manager needs more skillful and accepts new technology.
Budget preparationDo plan which can give qualitative output within budget.Get a better quality resource within a low budget.
Risk valuationIf the company can take the risk then they get successful.If the company can take a risk which was effective and give better future output.
Program nursingMonitoring the plan which can implement by the team.Make the trained team which can easily solve the problem between the process.

Conclusion

After doing the project work on Managing a successful business project, it makes clear that there is great need of implementation of the proper management plan, project, and management process and to follow the strategy of management for improving the performance and quality of the research project work. There is an important need for research of market where the organization needs to establish their business to get relevant data according to the organization. Project Management helps to manage the business project in an efficient and easy way by dividing it tasks in employees and set time limit to complete a task using Gantt chart and breakdown schedule. There is a need for accuracy and reliable data for the proper research in the project, so it is mandatory to use qualitative and quantitative methods inefficient manner.

References
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Appendix 1

Project Log Book

Week Starting DateEnding DateActivities
Week 122th December 201828th December 2018Project Initiation Phase:

Market Investigation- Started & Completed

Portfolio Assessment- Started 

Week 229th December 20184th January 2019Portfolio assessment- Completed

Idea Generation- Started & Completed

Project Planning Phase:

Product Scheming- Started

Week 35thJanuary 201911th January 2019Product Designing- Completed

Material Preparation- Started & Completed

Budget & Risk Preparation- Started & Completed

Week 412th January 201919th January 2019Project Development Phase:

Product Manufacturing- Started

Week 520th January 201927st January 2019Product Manufacturing- Still Continued
Week 628st February 20194th February 2019Product Manufacturing- Completed

Product Testing- Started

Week 75th February 201912th February 2019Product Testing- Completed

Project Closure Phase:

Product Completion- Started & Completed

Induction of the project

Week 813th February 201920th February 2019Induction of the project Completed

London Fashion Week- Started & Completed