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Managing A Successful Business Project

INTRODUCTION

With the rise in innovative and creative practices it has been identified that for the time being society has been the key for many business. Thus many of the organizations have shifted to make world a better place by delivering the quality of products ad services through providing customers with hygienic, organic and recycled products. CSR has been the key to make a competitive advantage over the others(Boshyk, 2016). For this purpose to have a deep understanding of the topic and understand relevant tools and techniques which can be used in maintaining a project and checking the accuracy on timely basis, this report has been undertaken. For this purpose the company and the new product undertaken here is MacDonald & Double-tacker burger with a diet coke.

TASK 1

P1 Project Aims & Objectives

In order to make people feel comfortable and make more consumption of the product this amazing set of burger with coke has been launched in the market to make sure that every people who loves or not loves to eat will also eat that after listening to the name of the product. The main aims and objectives for which the Double-taker burger with coke has been offered are:

  • To make those people attract towards the product who suffers from some diseases.
  • To give the society a food that takes care of their health.
  • To Give customers a right set of hygienic and organic food.
  • To provide them with easy and convenient packaging that can be recycled into a handy bag. So, it is for dual purpose.
  • To make people attract towards the products by making some changes which eventually will increase the sales and drives the profitability(Eskerod and Huemann, 2013).
  • To be successful in lifting the standards of the people living in the society by setting the pricing policy as low as it can be.
  • Further it can be noted that MacDonald isn't set up for making the profits, the firm also knows that whatever that has been taken form the society one day needs to be given to the society. So that's why the new product of this kind has been launched.

P2 Project Management Plan

Herein, for the launch of a new project certain planning and market analysis is needed to be undertaken by the firm so that the products which are to be introduced in the market should meet the demand required(Laseter and et.al, 2017). Thus there are various aspects which needs to covered and they are:

  • Cost: Since the cost of the product is important in creating the demand for the product. Thus the products cost has been kept low only which delivers a larger satisfaction level to the consumers of the product.
  • Scope: Scope of the product launched is wide because the product is specifically launched for the people who suffers from the diseases and have an interest in eating different kind of foods. and also for the people who does not want to get into the trouble in future.
  • Time: Time taken for making the product is less than 5 minutes because here it is the firms business process which doesn't make his customers waiting for so long, that's MacDonald for you is.
  • Quality: It has been assured that the patties which are included in the burger should be fresh and mouth watering so that appropriate taste and originality of he food remains till the consumption of it.
  • Risk: Risk is involved in launching the product because it is not sure that what will be the reaction of the people towards that product and making them attract towards the product is a huge task.
  • Resources: Resources have been used in this scenario is the land from where the customers can access the products easily and make use of that. Also it is ensured that natural resources are not wasted anymore in order to achieve CSR(Tukiainen, 2015).

M1 Project Schedule

The project schedule is which follows from the project management plan would be that in order to launch the product into markets, MacDonald must have to go through some steps in which they need to take care of the aims and objectives which needs to be fulfilled and the plan which is made should be monitored effectively. Thus the project schedule for the MacDonald company is:

  • Firstly, they need to decide the cost of he product which should not be too high that it can not be able to create the demand for the product.
  • Secondly, MacDonald should determine the scope of the product and that is target market which needs to be taken care of.
  • Thirdly, Quality of the product delivering should be ensured because in food items it is most chances that the ingredients get rotten. so that needs to kept in the mind.
  • Fourthly, marketing of the product is an essential part because through this only people will be aware of the product and start coming to the outlets of MacDonald to have an experience of such product.

P3 Work Breakdown Structure and Gantt Chart

P4 Quantitative and Qualitative Methods

Quantitative Methods: Quantitative data ensures the statistical measurement of the data, here this method shows different numbers about how many people are in favor of the certain discussion of the topic and how many people are in non-favor of the topic. These methods includes:

  • Polls: Here different polls have been done to ensure that the relevant data is collected in order to make decisions on the launch of the new product(Greenwood, 2016).
  • Questionnaires: Questionnaires will facilitate MacDonald in making decision regarding how many people are actually gonna buy that product with their concern over the issue.
  • Surveys: Different types of surveys will help them to make necessary decisions on whether to launch the product or not in the market.

Qualitative Methods: These methods ensures that the level of the quality has been maintained in order to be successful in the market. Under this methods and effort has been made by implementing certain techniques what the consumers wants from the company. There certain measures from which this data is collected and they are:

  • Interviews: Interviews of the random people walking on the street will help in making know the perception of the people of his class and age that what is the mindset of them and further decision making can be done.
  • Focus Groups: Focus groups interactions will help in knowing the adults and there perceptions towards the product and the negatives and positives of the product.
  • Observations: Observations will help MacDonald in knowing the actual activity which is followed by people in buying the food products(Carbonari and et.al, 2015).
  • Action Research: Putting on test the taste of the product in a crowd place will give an insight of liking of he product and non-liking of the product.

M2 Accuracy and Reliability of Research Methods

The research methods that are being taken into account will deliver great results for the company, but in turn the application of those methods is not only where the process stops. A complete set of evaluation is to be done in order to make sure that the data collected is relevant and can be relied on for the purpose of decision making. So in order to make certain things clear in relation with the data collected through both qualitative and quantitative data steps should be carried out. Firstly for quantitative data a check should be conducted in order to make sure that the polls done is from actual persons only not from the imaginative one's. Questionnaire should be checked that proper address have been mentioned by the person who have filled the questionnaire and the authenticity and reliability both should be measured. In surveys the accuracy of the data should be measured in order to know whether the surveys has been conducted as per the standards or not(Liu, Zou and Gong, 2013). Same is the case with Qualitative data methods or techniques here it is not the question of reliability of the data because the persons are interviewed face to face and thus here comes the accuracy factor where MacDonald will make decisions on the accuracy of the data and how much they can rely on that to launch the product in the market.

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D1 Evaluation of Process and Methodologies

As per the Process discussed, the project management plan is the best plan suited for the MacDonald company to introduce the product in the market because through this they will be able to come up with the most appropriate and reliable cost and a quality measures which in turn will impact the profitability of the people as a whole and will make the environment, disease free from which CSR levels will be achieved. Further the plan adopted is helpful in making use of the resources although their is risk involved in this process to follow but as it is said higher the risk, higher the return is and thus making the most out of it is the key(Aronson, Shenhar and Patanakul, 2013). Further the methodologies adopted in finding the suitable data in order to make the decision which facilitate the objectives are appropriate and will allow the firm to make reliable and accurate decisions as to work towards achieving the set goals.

TASK 2

P5 Analysis using Appropriate Tools and Techniques

After collecting the information from different sources it is essential for scholar to examine the same by using different tools and techniques. However, such methods are known as data analysis tools. It can be stated as the process of interpretation of data that helps in collecting appropriate outcomes and make final conclusion for the research. Here, qualitative research and quantitative research both the strategy is used to analyze the information and knowledge. The data collected through questionnaires, polls and surveys will be studied through quantitative approach and further interpretations from this will be made(Coetzer, 2016). In the same manner, qualitative research will be helpful in making the decisions through the use of interviews, focused groups, etc. Further the data is collected from secondary sources as well as primary sources which are from articles, books, magazines and many more. For the purpose of questionnaires the sampling method taken here is Random judgmental sampling. Sampling is an approach through which researcher collects target population from the universe. Such selected population would be useful for carrying out research. Through carrying out the above analysis regarding primary data collection which is beneficial for collecting new and fresh data, in order to identify this it is important to decide the target audience to whom questionnaire is to be given and from which interpretations can be formulated(Roser, DeFillippi and Samson, 2013).

P6 Recommendations

From the above carried report it has been recommended for MacDonald company that:

  • They should make a market analysis before introducing the product into the market.
  • MacDonald should understand the buying pattern of the consumer and then make the decisions as per the results of the understanding level.
  • The company should understand the need of providing to the society and thus making the efforts towards achievement of that only.
  • Project management plan needs to be evaluated and monitored effectively.
  • MacDonald should make appropriate implementation of the various methodologies they are going to use.
  • Tools and techniques should be applied in relevant manner so that accuracy of the data can be achieved.

M3 Evaluation of Tools and Techniques

The various tools and techniques which are implemented in the process launching the Double taker Burger into market with a coke and innovative packaging which after extracting the burger becomes a carry bag. This set of product as discussed will render and serve the old age peoples and make the youth aware about diseases and making them buy the product to consume as much as they can. Well the positioning of the product is done in that manner that customer thinks that by buying or consuming the product a normal human body will be energized and will be disease free and thus that makes the profitability of the company.

Apart from this the tools and techniques which was used by the MacDonald in making the product successful in the market is:

  • Primary Sources of Data Collection: Primary sources of data collection is done by an individuals own judgment or he undertakes the responsibility of the various measures or techniques which are applied in order to make necessary recommendations. This process of data collection is the best because here the researcher himself receives and extract the data from the sources and thus this source is most reliable also(Gray and Ulbrich, 2017). There is 0% error chances in relation to data because biasiness is not involved in it.
  • Secondary Sources of Data collection: Secondary sources is also an important trait in making the data given a reliable on with the help of previous studies and past records and articles the knowledge of the various theories and subject matter is taken into account and thus this makes the management to make decisions in order to achieve the objectives. Further various strategies have been
  • Random judgmental sampling: Random judgmental Sampling is an approach through which researcher collects target population from the universe. Such selected population would be useful for carrying out research.
  • Likert Scale Technique: Likert scaling technique has been the technique used in making decisions by the evaluation of the various questionnaires so that appropriate measures can be achieved into it. In this technique the scale used for the purpose of giving the reactions are strongly agree, agree, neutral, disagree and strongly disagree. It is the most appropriate technique to evaluate the questionnaire and find the perceptions of the people on a given topic, which in turn thus creates a better judgment capability for the management(Sandström, Kyläheiko and Collan, 2016).

P7 Reflective Report

As per this report i have came across the conceptual concepts of how the product idea is generated in the firm and how and what are the essentials that needs to be kept in the mind for making a successful launch a product in the market. From this report i have understood a concept that " whatever the society has given us, we owe society back something and nevertheless at some point of time we have to give to the society what has been taken by us". This famous concept was given one of the great persons who played a significant role in making of the country INDIA(Chongwatpol and Chongwatpol, 2016). As per this report i have learned that a product which needs to launched into a particular market need to go under a different set of evaluation and thus those steps are market analysis and further different traits are their to make a product successful in the market. Further for the research purpose a different set of tools and techniques have been used which in turn have made and developed me over different reasons and

Thus through the use of this report I have managed to learn about the various tools and techniques of project management which is similar to a research methodology and thus that are: Primary sources of data collection is done by an individuals own judgment or he undertakes the responsibility of the various measures or techniques which are applied in order to make necessary recommendations. This process of data collection is the best because here the researcher himself receives and extract the data from the sources and thus this source is most reliable also. Secondary sources is also an important trait in making the data given a reliable on with the help of previous studies and past records and articles the knowledge of the various theories and subject matter is taken into account and thus this makes the management to make decisions in order to achieve the objectives(Müller, 2014). Random judgmental sampling has also been studied by me which i have gained a new insight on how things can be accessed and evaluated using this techniques. Further likert scale technique is commonly used and thus for this purpose.

M4 Evaluation of project Management process

The process undertaken here in this report is quite an interesting one because here the things have been made pretty clear that for the purpose of MacDonald company who wants to carry out new products into the market this process is the best because it includes market analysis and cost and quality measures through which a customer can be made attracted towards the products which eventually will make them step towards there objectives(Müller, 2014). The process followed by MacDonald has made a significant impact on the working and decision making capability of the managers since various research tools and techniques have been used in order to make accurate decisions in order to place their product in the markets they want to.

CONCLUSION

From this report it has been concluded that Corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the people and the families that prevails in the environment. Thus making it multifaceted concept that encompasses many different aspects ranging from philanthropy, ethical responsibilities and environmental considerations. From this report it has been understood that to launch a product in the market a firm has to make different plans to apply the launch in the target markets. Proper scheduling and monitoring is important in making of the plan successful in the markets.

REFERENCES

Books & Journals

  • Aronson, Z. H., Shenhar, A. J. and Patanakul, P., 2013. Managing the Intangible Aspects of a Project: The Affect of Vision, Artifacts, and Leader Values on Project Spirit and Success in Technology‐Driven Projects. Project Management Journal. 44(1). pp.35-58.
  • Boshyk, Y. ed., 2016. Business driven action learning: Global best practices. Springer.
  • Carbonari, A. and et.al, 2015. Managing energy retrofit of acute hospitals and community clinics through EPC contracting: the MARTE project. Energy Procedia. 78. pp.1033-1038.
  • Chongwatpol, J. and Chongwatpol, J., 2016. Managing big data in coal-fired power plants: a business intelligence framework. Industrial Management & Data Systems. 116(8). pp.1779-1799.
  • Coetzer, G., 2016. An empirical examination of the relationship between adult attention deficit and the operational effectiveness of project managers. International Journal of Managing Projects in Business. 9(3). pp.583-605.
  • Eskerod, P. and Huemann, M., 2013. Sustainable development and project stakeholder management: what standards say. International Journal of Managing Projects in Business. 6(1). pp.36-50.
  • Gray, K. and Ulbrich, F., 2017. Ambiguity acceptance and translation skills in the project management literature. International Journal of Managing Projects in Business. 10(2).
  • Greenwood, J. ed., 2016. The effectiveness of EU business associations. Springer.
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