Essay on Applied Project Management part 4
Essay on Applied Project Management part 3
- Milestones and an activity schedule
The development and implementation of the project will pass through several key stages, milestones that determine outcomes of the project. The first milestone is the elaboration of goals, mission and vision of the project. The second milestone is the identification of resources required for the project, elaboration of the plan and design of the project. The third milestone is the creation of the new sport nutrition. The fourth milestone is fundraising for the project. After that, the company can start recruiting professionals to complete the project and construct the production facilities. One more milestone is distribution. The company has to distribute its product successfully. Finally, monitoring and control are also crucial for the successful accomplishment of the project.
The company can use existing developments in the field of sport nutrition as the ground for the production of its new sport nutrition. In addition, the company can use the growing interest of customers to sports and the popularity of sport in New York to introduce its new sport nutrition successfully.
- What I have learned from this course (no more than 250 words).
Scope: The work on the project has contributed to the development of my project management skills and abilities. The work on the project was a valuable experience for me since I have learned how to work on real world projects through the development of the project of my own that can be implemented in the real world. At the same time, the work on the project has revealed the full extent to which the clear and accurate identification of the scope of the research is crucial for the overall success of the project. To put it more precisely, I have found out that the clear identification of the scope of the research determines resources required for the project, goals that are achievable in terms of the proposed project and development of effective systems of management and control over the project. In such a way, the scope of the study may have the determinant impact on the project. On the other hand, the adequate assessment of the scope of the project allows developing effective strategies and policies that can help to complete the project successfully and overcome numerous challenges that may arise in the course of the implementation of the project.
Assignment 2
The project focuses on the introduction of the new sport nutrition that will involve the recruitment of the personnel, the construction of the production facilities, promotion and establishment of the communication between the company and the target customer group.
Scope
The scope of the project is broad in terms of the target customer group but limited in terms of the area, where the project will be implemented. To put it more precisely, the new sport nutrition focuses not only on professional sportspersons as other sport nutrition products do, but also on amateurs, who practice sports intensively (Hill, 1997). In such a way, the project aims at broadening the scope of the implementation of sport nutrition products to the particular customer group. The focus on broader customer groups opens new opportunities for the successful implementation of the project of the introduction of the new sport nutrition. At the same time, the project will be implemented in the New York City, New York, US only, while the further implementation of the project in other large cities of the US with the possible entry to international markets will be possible, only in case of the success of the project in the US. In such a way, the physical area of the implementation of the project is limited to New York only.
Time
The time of the implementation of the project comprises three months, in the course of which the project may be implemented from the launch of the production of the sport nutrition to the introduction of the product in the market. Along with the launch of the production, the company will need to promote the new product in the market. In this regard, the project may involve the celebrity endorsement as the core of the promotional strategy. The involvement of the professional sportsman into the promotion of the new product will help to reach the target customer group faster and to enhance the position of the company in the market through the rise of the customer awareness of the new brand and its confidence in the reliability, effectiveness and safety of the new product. In fact, the popular sportsman involved in the project will create a positive brand image, attract the target customer group and help the company to gain the customer confidence in possibly shorter terms. After the promotion, the company can introduce the new sport nutrition in the market because the target customer group will be ready to buy the new product. After the first introduction of the new product, the company should conduct the analysis of the performance of the new sport nutrition in the market in a month after the first introduction of the product. The first month sale rates will show whether the introduction of the new sport nutrition was successful or not.
Cost
The costs of the project involve costs of the production, promotion and the maintenance of the production process (Cerza, 2004). In addition, the project involves costs spent on the development of the customer relationship and enhancement of the position of the new product in the market through active promotion, enhancement of the quality and potential of the market expansion through the increase of the production
In such a way, the rise of costs in the course of time is the result of the increased of production, but the growing costs are expected to be covered by the growing revenues from the project.
Quality management
The quality management is crucial for the overall success of the project. The quality management involves the creation of the new sport nutrition, which is safe and of the high quality and matches target features. Therefore, the project will need to involve the development of the new product, which may be based on existing technological achievements in the field of nutrition. The quality of the new sport nutrition should be controlled with the help of the automated system that ensures the high quality of products due to the accurate control and analysis of the quality of products manufactured by the company. In addition, the high quality of the new sport nutrition is supposed to be achieved due to the high level of the automation of the production process. The automation of the production contributes to the higher quality of the product compared to the wider use of the manual labor.
Risks
The development and implementation of the project involves several risks. First of all, the project may raise the risk of the failure of the new sport nutrition to obtain FDA’s certification. In fact, such risk is relatively low since the modern technology allows developing safe sport nutrition of the high quality. Another risk is the possible failure of the celebrity endorsement strategy for the promotion of the new sport nutrition. For example, a scandal involving the popular sportsman sponsoring the project can make the celebrity endorsement ineffective or even harmful for the public image of the new brand. In this regard, the company may shift from the celebrity endorsement strategy to conventional ways of promotion, including advertisements online, placed on specialized sport websites, specialized print media and other methods.
Furthermore, the risk of the tight competition affects consistently the implementation of the project. For example, if the competition turns out to be higher than forecasted in terms of the project, then the project may fail or, at least, face considerable difficulties in the course of its implementation. This is why the plan of the project implementation should include alternatives based on the pessimistic forecasts concerning the competition and possible pressure from the part of the major rivals that already operate in the market.
Human resources management
Human resource management plays one of the most significant roles in the development and implementation of the project. In this regard, human resource management will be under the responsibility of the human resource manager employed by the company. The human resource manager will be responsible for the recruitment of employees, their training and professional development. Human resource management will focus on the professional development of employees to ensure the high quality of products delivered to customers. Human resource management will motivate employees to maximize the effectiveness of their performance because the effectiveness of each employee contributes to the overall effectiveness of the company. In addition, the high effectiveness of employees increases the cost-efficiency of the company.
Communication
The communication is crucial for the success of the project. In this regard, it is necessary to distinguish internal and external communication in the course of the implementation of the project. The internal communication will involve the communication between professionals working within the company. In this regard, the human resource manager should maintain the effective communication between top executives and employees of the company. The internal communication should involve regular meetings of managers and employees to discuss current issues, possible problems and find ways to their resolution. Managers should provide employees with positive feedback to motivate them to enhance their performance. The external communication will involve the customer relationship management and communication between the company and customers. In this regard, the popular sportsman will be responsible for the development and maintenance of the communication with the target customer group. The effective communication will allow the company to enhance its marketing position. The popular sportsman will be able to focus on sportspersons and persuade them to choose the new sport nutrition and use his authority to promote the new product not only among professional sportspersons but also among amateurs.
Procurement
The project will involve the supply of the equipment to launch the production of the new sport nutrition. In addition, the project may outsource the research and creation of the new nutrition. For instance, it is possible to hire scientists and nutritionists, who can create the target sport nutrition with the required features. In such a way, the project should involve the supply of those products and services that are required for the successful implementation of the project.
Integration management
The integration management is important in terms of the integration of all elements of the project plan and design and their successful implementation. In this regard, the role of the project manager is particularly significant for the integration of all elements of the project plan and design. The project management should take the lead and coordinate the work of all managers and employees involved in the project. The project manager will manage the entire project and coordinate actions of all participants of the project respectively to current needs and possible challenges.
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