Significance of Identifying Managerial Requirements and Suitable Measures in Midlandsphones - Assignment Example

Smartphone Lecturer Question1. Significance of Identifying managerial and Mission Requirements and Suitable Measures in Midlandsphones The MidlandsPhones aims at getting into the market with a new phone model which is convenient for the clients. They aim to capture broad market and improve their revenue. The company targets to achieve this within three months once the execution of the plan begins. This company has planned to start its activities by early July 2013 and end by October 2013. Setting activities at the right time will enable MidlandsPhones to get into the market before their rivals (Ireland, Liu and Yu-Chih, 2008). The will be able to produce a cell that can retain charge for a long time and which is appealing to their consumers because of its light weight. The company will incur a cost of £830,000 to make a slim durable cell. This will enable them to capture the Smartphone market before the Korean rivals. For MidlandsPhones to be able to achieve their targets, they will have to commit a lot of resources to accomplish this undertaking. The company has adequately planned for skilled directors and other staff members to execute the plan (Lewis, 200, p. 65). The aim of the MidlandsPhones Company is to launch their product before the December so that during the vacation, they can be able to make significant sales. Another target is to be the first company to enter into the market with a light and long lasting battery for a Smartphone (Sheila, 2008). Finally, the company will have to carry out thorough market research to ensure they have an adequate potential to meet customers’ requirements. As a result, the company has set aside a lot of resources to complete their project with the set time and achieve their objectives. Getting into the market earlier than before the entry of any other rival is crucial because it will help the MidlandsPhones Company to capture market share and strengthen their competitive potential. This company will also be able to raise enough funds to cover for expenses incurred during research. It will also help them to mitigate the anticipated decline in market growth in the year 2013 as a result of increasing rivalry. The MidlandsPhones Company has partnered with PowerDev Company to ensure the proposed plan has succeeded. They have formed a strong production and marketing team who will avail the product for sale after four months once the project commences. The MidlandsPhones will also be able to utilize the resources available for the project and work within the set time to ensure smooth running of the activities. This will assist them to avoid unnecessary delays which would otherwise result to stiff rivalry from other producers. Having experienced project team is of paramount importance because it will ensure efficiency of resource use and timely launching of the product. Question 2: Reasons for Venture Preparation and Appendices (a). Scope (appendix 1) The project staff should set the time period with which they will achieve their specific goals (Urquhart-Brown, 2008, p. 54). They should also establish qualified project workers which will ensure the set goals are achieved within specified time. In addition, they should utilize all the available resources effectively to ensure the plans are attained. The staff should set the means and frequency of disseminating of information within themselves and with the company’s management to ensure adequate coordination of the activities. The MidlandsPhones will launch the new Smartphone with light and durable battery towards the end of November 2012. To ensure this plan is achieved, the company has established a strong establishment staff headed by an experienced production and marketing manager who will direct the members during the entire project period. The project staff will work to ensure the product is ready for market starting on first December 2013. The staff will also mobilize all the available resources to ensure the company’s target is achieved. They will also ensure that the company’s activities do not clash which would otherwise result to interferences and possibility for failing to achieve their targets. The project team directors are responsible for making reports to the company’s management within a period of two weeks. The tasks will be broken down into phases in accordance to time period upon which they will be completed. (b) Work Breakdown Structure (WBS) (appendix 2) The project team should delegate the roles among the work implementing team to ensure they succeed in their plans (Dinsmore and Cabanis-Brewin, 2006, p. 287). This will also ensure that the activities do not clash, and that those roles which cannot be undertaken before some other important parts of the tasks are performed are only implemented at the appropriate time (Bolles and Hubbard, 2007, p. 206). This also ensures that each member of the project team is allocated the task he or she is best at and that they are able to discharge their duties coherently. MidlandsPhones has arranged their activities in the order in which they will execute by the staff. The staff has also set the time period of executing their plans and the cost for each task has been allotted. In case the management realizes that there is inadequacy of resources or staff, they are able to realize this in advance and can make prior arrangement to provide the missing resources for effective implementation of the project. c. Schedule (Including Milestones) In a business undertaking, the executors should have time limit within which they target to achieve their goals. This will fix the workforce on the duration they are expected to deliver result to the stakeholders. Performing within fixed time will enable the company to offer their goods for trade before their opponent. This will give them vigor to overcome other competitors. The MidlandsPhones has set the project time to run from early July to the end of November 2013. This will also ensure that all the resources needed are available before the project commence and that they are adequately utilized during the project implementation. d. Cost (appendix 3). Any business venture must incur some expenses. However, some will be sustained once in the entire project life cycle, while others will be recurring in the entire life cycle (Bertels, 2003, p. 231). The costs which are incurred once are referred to as fixed costs while those which are determined by the level of activities are referred to as variable costs (Smith and Mazin, 2004, p. 183). The expenses for the entire project are called total costs. They include both variable and fixed costs. The entire project cost is the total amount paid to execute the idea. For the MidlandPhones Company to execute its plan to launch production, they will require 830,000 Euros. It is also essential for the company to estimate the expenses they will incur to produce every unit of the product. This is important because it will help the company to determine the value of the cells and hence, their market price (Kendrick, 2010, p. 74). The number of cells to be produced should be enough to cover the total cost incurred and create profit for the company. e) Stakeholder Analysis (appendix 4) Before a company engages in any activity, they should establish the correct development workforce who will be executing the company’s plan. The company’s management should establish a group of experienced individuals to ensure that the assets are utilized effectively. This is essential because the company will be able to establish the business undertaking within the right time. Having the right panel of workers will enable them to meet the quality of products they require and proper coordination of activities (Kendrick, 2010, p. 78). The management will be able to understand the kind of inspiration the panel may require in advance so that they can achieve their objective. It will enable them to establish the concern of the panel in the mission and make the choice of what they can do to achieve the goals of the company. ( f). Communication Plan appendix (5) The project team should establish the proper means of contacting its workforce (Bertels, 2003, p. 21). The company has decided that the project director will be required to present an account to the company directors twice a month. They have not, however, decided the criteria they will use. The directors should decide how the account will be submitted to them (Urquhart-Brown, 2008, p. 46). Finally, if there is proper means of communication before initiation of the project, it will help the controllers to gather the necessary assets and establish a good relationship throughout the plan life cycle. This will improve competence of implement the table. ( g). Risk Evaluation (appendix 6). Before the company commits its resources to any activity, they should first examine the perils which occur either during or after the execution of activities (Smith and Mazin, 2004, p. 167). For example, MidlandsPhones should investigate the possibility of any occurrence which might hinder them from achieving their target. 3. Closing down the Project Once the development group has fulfilled their allotted duties, they will have to conclude officially conclude (Sheila, 2008). This is the correct procedure regardless of the size of the company or complexity of its activities. It enables the staff which was involved in the execution process of a particular activity to be set free for other functions. Also, the company is able to assess the extent to which they have been able to attain their goals. Finally, the assets which were to be used in other areas will be set free and become available for those uses. The procedure involves recognition by the concerned parties of the activities performed by the project staff. The staff which was involved in the execution of the project will give their views about the project during the time they are handing over the production activity to the company (Lewis, 2007, p. 34). Their opinions will focus on the extent to which they have achieved their goals and need for further improvement of the product to make it more appealing to the end users. Normally, the closing process culminates with the project team hand over meeting to the company and delivering the report about the entire project. They will also give speech of report concerning the product usage and how it was produced. The project team will also issue a report about their encounter with the project and the challenges or shortcoming they went through during the execution if any. The project team must first clear with the suppliers, management and the project directors before handing over the production activity to the company staff. Appendix1 Time Resources Staff A project involves time, resources and staff in order for it to be implemented. These are the limiting factors which should be used economically to achieve the objectives of the company. appendix 2 25 days 5 days 15 days 20 days 5 days 15 days 15 days 5 days 20 days 40 days 1 15 days 10 days 15days 15 days Source: Smith and Mazin, 2004, p. 123 The arrows represent processes, direction and time it will take to complete each scheduled activity. Each square represent the activity that has to be completed. The arrows and squares show which activity should be completed first before another one starts. Arrows shows tasks which must be performed before the executors move to the next activity. Appendix 3 Overhead (£) fixed(£) Time (£) Materials (£) Project staff 50,000 Marketing planning 40,000 Project staff 50,000 Detailed design 90,000 Marketing Campaign 140,000 Assembly line construction 110,000 Supply of Batteries 40,000 Prototype build 40,000 Production Launch 60,000 First Production Run 150,000 Appendix 4 Appendix 5 Communication plan Project Director Company Director and project staff Company Management Appendix 6 Risk Analysis Product quality Resources Market risk, Bibliography Bertels, T., 2003. Rath & Strongs six sigma leadership handbook. Hoboken: John Wiley & Sons, p. 592. Bolles, D. L. and Hubbard. D. G., 2007. The power of enterprise-wide project management. New York: AMACOM, p. 345. Dinsmore, P.C. and Cabanis-Brewin, J., 2006. The AMA handbook of project management. New York, p. 518. Ireland, T.D., Liu,L.R. and Yu-Chih, J., 2008. Project management: IS/IT research challenges. Journal of International Technology and Information Management, 17 (1). Jonassen, D. H., 2004. Handbook of research on educational communications and technology. Mahwah, NJ: Lawrence Erlbaum Associates, p.1270. Kendrick, T., 2010. The project management tool kit: 100 tips and techniques for getting the job done right. New York: American Management Association New York, p. 273. Lewis, J. P., 2007. Fundamentals of project management. New York: American Management Association, p. 176. Sheila, S. M., 2008. Project management effectiveness construct: project success factors. Review of Business Research, 8 (3). Smith, S. and Mazin, R., 2004. The HR answer book: an indispensable guide for managers and human resources professionals. New York: AMACOM, p. 256. Urquhart-Brown, S., 2008. The accidental entrepreneur: 50 things I wish someone had told me about starting a business. New York: AMACOM, p.192. Read More