Undertake Project work
This project aims to conduct research and experiment the viability of Jaipur Region, India for the new product. The Product is Coke diet a Cola drink that possesses less fat. This product has been manufactured by Coca Cola Amatil Pty Ltd.
The project outcomes and objectives for this product will include; establishing how the product will be introduced in the market using the different promotional displays and advertisements. To discover the viability and the sustainability of the new product in the market with Jaipur region as the case, to examine the marketing plan that will be used in launching the new product in the market.
The expected outcomes for the project would to come up with information regarding the current market situation. Currently this is a new product that is to be introduced in the market and will target all the age groups including children and adults; for the whole family. The second outcome that the project plan is expected to generate is the strategies that are likely to be used in rolling out the new product in the market. Lastly, is to get the views from the expected customers on the new product to be launched and the entire Coca Cola Amatil Pty Ltd as a whole.
The objectives of the company includes; to increase the market share and be a market leader through the introduction of new product- diet coke, to promote sales and increase profits and to face competition from PepsiCo.
The time frames for the project would be six months that is, from July 2015 to December 2015. With the complexity in business to achieve faster and cheaper results project management must be guided with good practices and acceptable standards to ensure flexibility and effectives of project management. For this project plan the following quality standards will be used;
ISO 21500:2012, this quality standard would guide the process of project management through provision of quality extensive descriptions of the concepts and the detailed process for good project management. This would assist the project manager to achieve success and produce results.
The resources required to accomplish the project would include; people with the knowledge and skills in project management, physical equipment like computers, pens, note books equipment, facilities like discussion rooms, vehicles to transport the project personnel and financial resources.
|Project objectives and expected outcomes||To research and establish the viability of the market for the new Coke Diet product in the Jaipur region. The expected outcomes for the project would to come up with information regarding the current market situation, to generate the strategies that are likely to be used in rolling out the new product in the market, to discover the views from the expected customers on the new product to be launched.|
|Company objective as a whole||To be the market leader in through introduction of new viable products in the market.|
|Time frames||Time frame for the project is 6 months. From July 2015 to December 2015.|
|Quality Standards||ISO 21500:2012, this quality standard would guide the process of project management through provision of quality extensive descriptions of the concepts and the detailed process for good project management.|
|Resources needed||Human resources- People with the knowledge and skills in project management e.g. Project managers, project sponsors, team leader and business analysts. Physical resource- equipment like computers, pens, note books equipment, facilities like discussion rooms, vehicles to transport the project personnel Financial resources in terms of funding|
In project management human resources playsvital role in the success or failure or failure of a project. The people are to some extent described as project team and each person is assigned roles and responsibilities that he or she should carry out. In this project the individual people and their responsibilities are summarized in the table below;
|Clients/ customers||Employees/Teams||Responsibilities||Alignment to project outcomes|
|Project sponsor||Executive Director||This is the most senior individual in project management he/she is committed to the success of the project. He/She works on the objectives of the project and possible outcomes. The role of this individual is to enable the speedy progress of the project thorough support.||This map to the outcome by providing project direction throughout the project life through ensuring viability of the project, assisting in decision making process and ensuring that information is available.|
|Project Manager||This is the individual who will be responsible in delivering the project by providing the solution. Works on the environment and see the conception and evolution of the project. He/she is also involved in coordinating all the activities of the project through coordination and directing all aspects.||The roles map on the expected outcomes through ensuring there is communication at every stage. Also ensuring the though analysis of the business situation.|
|Team Leader||Encouraging the full cooperation and participation of the team members towards the project purpose. Managing the risks that would otherwise in the course of the project. Monitor and evaluate the daily activities of the team members.||Alignment to the outcome by ensuring all the energy of the team is focused to the project direction.|
|Business analyst||Financial analyst/ Accountant||The responsibility ensuring that the project team relates with the business based on their technical skills and roles.||He/she will ensure that the business needs are fully addressed and understood before the execution of the project. Will also ensure the active involvement of the business to achieve the outcomes.|
BUDGET ESTIMATION AND APPROVAL
The main aim of a business is to maximize on the profit and limit on the costs incurred. In businesses at time the funds are limited and hence the project manager would be expected to submit a budget that is cost effective. This process is called cost estimation and willensure that the project manager foresees all those requirements and resources that might be needed by the project. Cost estimation is done through the budget and would include both the direct and indirect costs. Direct cost would include the salaries of team members, materials and supplies, travel arrangementsetc., while indirect cost includes overheads like rent, furniture, water, electricity etc. Once the project budget has been prepared it is taken to the project sponsor for approval. A project budget cannot be executed without the approval. The budget is as follows;
|Resources||Descriptions/ Details||Budget in $||Quote 1 $||Quote 2 $|
|Human Resources||The project team of manager, team leader and team players||43,200||43,200||43,200|
|Physical Resources||Air travel fares||18,400||19,000||19,000|
|Transport in India||15,000||15,100||15,500|
|Technical resources||Laptops for each member||11,000||11,600||11,300|
|Mobile phones for each member||6,000||5,400||6,000|
|Financial resources||Bank loan||400,000||300,000||350,000|
Once the project budget has been approved it is the responsibility of the project manager to ensure that the project is within budget. This will be done through continued review of the project activitiesand associated cost periodically throughout the project time. Thereare several methods or ways that can be used to monitor the project budget cost which will ensure that cost do not go above board as planned and also to shape the staff performance within the budget.
First method is forecasting this is when the project manager forecast or foresees the future performance of the project. This forecast is done based on the actual performance. For example, if you are conducting a project and after reaching 25% of the project you realize you are on schedule and within budget then reaching 50% of the project you realize you are behind schedule; you can use the forecasting method to know the cause of the delay and the remedy to bring it back to schedule.
The staff performance can be controlled through the use of the performance review method, it usually involves the cost involved in the project and schedules as the main indicators of assessing the project. It will involve using the scope and team morale of the project personnel. This would also assess the quality performance of the individuals, For example in using the laptops for the project work the internet costs may increase and impact negatively on the project budget. It willtherefore mean that the team leader reviews the use of the laptops and internet connections to make sure they are limited only to the project activities.
Project reporting always begins at the beginning of the project. It is fundamental that reporting be done throughout the life cycle of the project. This would make the project sponsor and other stakeholders to be aware of the progress and any step on the project.
There are essential reports that must be given to the management and the project sponsor. These include the project proposal report that would detail the proposed project activities and stages; it gives information on the succession of the different stages of the project lifecycle. Secondly is the project plan that gives a summary of the project deliverables, schedules based on time, the budget, risk schedule and management, project structure and the responsibilities and roles of each team member.
Thirdly is the status report provided at regular intervals throughout the life of the project, it tells what is taking place on each stage of the project life. It provides succinctly the project schedule whether it is on schedule or not, the original budget approved and any adjusted made or to be made and any other issue that may arise.
RISK MANAGEMENT PLAN
A risk is any event or occurrence that can impact positively or negatively on a project when it occurs. Risk management therefore is the process of identifying this risk and coming up with ways of mitigation or preventing it from occurring.
The risk management plan will define how these risks in the project will be identified and managed effectively.
This risk management plan is produced by the project manager. The risk managementplan for this project would entail;the process of working with the whole project team and sponsors to ensure that risks are actively identified and managed throughout the project life. The second step will be the whole project stakeholders evaluating the project scope and environment factors to identify the probability of a risk occurring. The project deliverables, assumptions, cost estimates, resource planning will be carefully studied and a risk management log/document generated and updated. The risk will then be analyzed to identify the possibility of it occurring in the project. They will then be qualifythem toknow which one will top the list and the possible outcomes of its occurrence.Lastly is the risk response which will detail the actions to be taken it case such a risk occurs and report effectively.
In conducting the project two resources are to be used. One is the Euro Monitor International an organization that specializes in market research for soft drinks. They will provide vital information on the marketing trends, pricing analysis issues and cost estimations for this project. It will also analyze the competition in the market.
AIS Food Consultants that will assist the project in providing good practices in the new product. This is an institution that has authority and believed by most of its customers in providing quality services and products. Their food industry advice will be vital and helpful to the project.
Support for the team members is important, each individual should understand his/ her responsibilities well and each of them should have a clear cut understanding of what is expected of them. In case of any misunderstanding the individuals should be assisted through guidance. The different team responsibilities will also be clarified at the different stages of the project.
|Support given to team members||Description of support||Explanation of monitoring procedures|
|Physical resources||Transportation||Ensuring that each member has adequate arrangement for transport throughout the project.|
|Human resources||The local market in Jaipur/ Consultants||To ensure that they give out accurate data. Also ensuring that the consultants and specialist collect accurate data and information.|
|Technical resources||The laptop together with the internet connection. Phone facilities.||Ensuring that the collected data from the field is captured, analyzed and presented according. In care of any clarification online research could be conducted. Ensure that each team member communicates comfortably with the other members.|
|Encouragement||Motivation||Ensuring that team members are motivated through increase in bonuses and allowances.|
|Feedback||Evaluation of tem performance||To organize meeting to get varied feedback from the different teams.|
|Learning and development||Brainstorming sessions||Organizing brainstorming sessions to discover more information.|
Once the expected project outcomes have been identified it is now paramount to have ways of measuring the outcomes-whether they have been achieved. For every project manager, you must come out to investigate an aspect and know whether you are on the right track towards achievements.
To measure the outcome for this project, the project manager will appoint an independent third party to monitor and evaluate each stage of the project. This will be done continuously to ensure that the expected outcomes are going to be met by the end of the project. In case of any deviation this should be reported immediately so that corrective measures should be put in place.
While the project will be conducted to introduce a new product in the market and increase profit maximization, the legislation should also be taken into account through provision of high quality drinks and environmental conservation. The Cosmetics, Foodstuff Act of 1972, enforces that in producing the soft drinks in the markets a lot of considerations should be taken to ensure that the drinks retains their nutritional value and be attractive to the consumers.
The Marketing Act of 1968 will assist the project to define the contents and compositions of the soft drink whether in liquid or still in powder form. The project manager should be aware of the above legislations to be in the good side of the law when conducting the project.
SIGN OFF LETTER
The sign off letter in this project will show that the project has been approved by the relevant stakeholders that that it can start. Once the project is finished the manager will explain whether the expected outcomes have been achieved and that the new product can just be rolled in the market.
Project sign off letter
Project Name: Research on the introduction of Coke Diet to the market
Start Date: July 2015 Closing Date: December 2015
Duration: 6 months Sponsor:
Project Objective: to test the market
Project Deliverable: To advice the Organization on the viability of the new product.
Clients: CoCa Cola India
Project Manager Signature_______________Sponsor Signature
The project will be reviewed continuously at every stage to see whether it is moving in a way that it will meet the objectives and expected outcome by conducting analysis of every activity.
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