ManagementBusiness Project Management And Technology - Myassignmenthel

Question: Discuss about the Business Project Management And Technology. Answer: Introduction This study will develop a project status report for identifying the completed task and remaining task in the new product process in Samsung. The report will be presented to the board of management so that they can understand the progress of the project and the shortcomings faced while faced while executing the project. The report will also include overall budget, over allocation of resources and slack time. The report will conclude by providing the necessary action that has to be taken for improving the efficiency of the overall procedure. Background of Samsung Samsung is one of the largest conglomerates in technology and consist of variety of technological products in the market. The organization has its headquarters in Seoul and most of their products are under the brand name of Samsung. The organization had diversified their product line, and offers variety of products to the target market worldwide. The notable industries of the organization are Samsung electronics, Samsung Heavy industries, Samsung CT and Samsung Engineering (Samsung Electronics America, 2018). Samsung has started to emerge in the global market in the late 90s and have been to increase their consumer base in all over the world. They have provided competition to Apple who is the market leader in this segment by providing similar products with better configurations at cheaper prices. However, they have been fined for damaging six of the patents of Apple but they have been able to make steady progress by collaborating with Microsoft Project scope Project scope is the crucial data required for defining the needs and expectation of the consumers in particular project. This project is aiming at developing a product for their high end consumers segment (Collins, Parrish Gibson Jr, 2017). This product will fulfil the current need and wants of the consumers in the market. The project includes the objective of the project, deliverables, milestones and technical report. This is a project status report, which will provide the status report until a given point of time to identify the issues and risk involved. Project objectives The objectives of the project are mentioned as follows: To identify the current market trends in Smartphone industry To evaluate the new requirements for a develop a product To design and launch a product for current consumers of Samsung To test the products for identifying necessary changes Project Status report objectives To evaluate the status for the report till the given date To identify the risk factors To calculate the budget status Project deliverables and milestones Project deliverables and milestones will define the various processes for developing the new product (Snyder, 2017). There are various stages included in a project and each of the stages has specific tasks defined to it. The completion of each of the stages in project management is known as milestone. This project will consist of five stages and five milestones has been defined in the study. Task Name Duration Start Finish Predecessors Product Development Status report 345 days Wed 11/1/17 Tue 2/26/19 User Requirement Analysis 40 days Wed 11/1/17 Tue 12/26/17 Trend analysis 10 days Wed 11/1/17 Tue 11/14/17 Survey and pilot Study 15 days Wed 11/15/17 Tue 12/5/17 2 Identifying the requirements 15 days Wed 12/6/17 Tue 12/26/17 3 Formulating documents 5 days Wed 12/6/17 Tue 12/12/17 2,3 Functional Specification 10 days Wed 12/6/17 Tue 12/19/17 2,3 Milestone 1: User Requirement Analysed 0 days Tue 12/19/17 Tue 12/19/17 6 Designing the solution 130 days Wed 12/20/17 Tue 6/19/18 Analysing the specifications 10 days Wed 12/20/17 Tue 1/2/18 7 Developing solution argument 30 days Wed 1/3/18 Tue 2/13/18 9 Designing solution in terms of specification 60 days Wed 2/14/18 Tue 5/8/18 10 Designing user interface 45 days Wed 2/14/18 Tue 4/17/18 10 Performance design 30 days Wed 5/9/18 Tue 6/19/18 11,12 Milestone 2: New solution designed 0 days Tue 6/19/18 Tue 6/19/18 13 product development 125 days Wed 6/20/18 Tue 12/11/18 Developing the prototype 10 days Wed 6/20/18 Tue 7/3/18 14 Testing of the prototype 15 days Wed 7/4/18 Tue 7/24/18 16 Identifying the defects 10 days Wed 7/25/18 Tue 8/7/18 17 Rectifying the defects 30 days Wed 8/8/18 Tue 9/18/18 17,18 Integration of the prototype 30 days Wed 9/19/18 Tue 10/30/18 18,19 Final product development 30 days Wed 10/31/18 Tue 12/11/18 20 Milestone 3: Product developed 0 days Tue 12/11/18 Tue 12/11/18 21 Product Testing 45 days Wed 12/12/18 Tue 2/12/19 Preparing Test samples 30 days Wed 12/12/18 Tue 1/22/19 22 Distributing Test samples 5 days Wed 1/23/19 Tue 1/29/19 24 Taking Feedbacks 10 days Wed 1/30/19 Tue 2/12/19 25 Performance testing 5 days Wed 1/30/19 Tue 2/5/19 25 Milestone 4: Product Testing completed 0 days Tue 2/5/19 Tue 2/5/19 27 Product Review 15 days Wed 2/6/19 Tue 2/26/19 Identify necessary changes 5 days Wed 2/6/19 Tue 2/12/19 28 apply changes 10 days Wed 2/13/19 Tue 2/26/19 30 Milestone 5: Product launched 0 days Tue 2/26/19 Tue 2/26/19 31 Project progress and performance Milestone report Critical Task completion Name Start Finish % Complete Remaining Work Resource Names Developing solution argument Wed 1/3/18 Tue 2/13/18 23% 1,472 hrs finance manager,marketing manager,operational manager,product analyst,Project manager,software developer,sofware designer,test engineer Designing solution in terms of specification Wed 2/14/18 Tue 5/8/18 0% 1,920 hrs product analyst,Project manager,software developer,sofware designer performance design Wed 5/9/18 Tue 6/19/18 0% 720 hrs product analyst,software developer,sofware designer Milestone 2: New solution designed Tue 6/19/18 Tue 6/19/18 0% 0 hrs developing the prototype Wed 6/20/18 Tue 7/3/18 0% 320 hrs product analyst,Project manager,software developer,sofware designer testing of the prototype Wed 7/4/18 Tue 7/24/18 0% 360 hrs software developer,sofware designer,test engineer identifying the defects Wed 7/25/18 Tue 8/7/18 0% 400 hrs product analyst,Project manager,software developer,sofware designer,test engineer rectifying the defects Wed 8/8/18 Tue 9/18/18 0% 960 hrs Project manager,software developer,sofware designer,test engineer integration of the prototype Wed 9/19/18 Tue 10/30/18 0% 720 hrs software developer,sofware designer,test engineer Final product development Wed 10/31/18 Tue 12/11/18 0% 720 hrs software developer,sofware designer,test engineer Milestone 3: Product developed Tue 12/11/18 Tue 12/11/18 0% 0 hrs Preparing Test samples Wed 12/12/18 Tue 1/22/19 0% 960 hrs marketing manager,operational manager,product analyst,Project manager Distributing Test samples Wed 1/23/19 Tue 1/29/19 0% 160 hrs marketing manager,operational manager,product analyst,Project manager Performance testing Wed 1/30/19 Tue 2/5/19 0% 160 hrs marketing manager,product analyst,Project manager,test engineer Milestone 4: Product Testing completed Tue 2/5/19 Tue 2/5/19 0% 0 hrs Identify necessary changes Wed 2/6/19 Tue 2/12/19 0% 320 hrs finance manager,marketing manager,operational manager,product analyst,Project manager,software developer,sofware designer,test engineer apply changes Wed 2/13/19 Tue 2/26/19 0% 320 hrs product analyst,Project manager,software developer,sofware designer Milestone 5: Product launched Tue 2/26/19 Tue 2/26/19 0% 0 hrs Figure: Task status The performance report of the project highlights that out of the five stages, only one of the stages has been completed and one milestone has been achieved. Thus, 22% of the overall project has been completed and 18% of tasks are in progress. However, if the overall data is taken in to account, 17% of the overall project has been completed. The project is on schedule but there is over allocation of resources in some of the task. Moreover, there has been over allocation of resources in some non-critical tasks. Issues Task Name Duration Start Finish Resource Names Total Slack designing user interface 45 days Wed 2/14/18 Tue 4/17/18 software developer, software designer 15 days Taking Feedbacks 10 days Wed 1/30/19 Tue 2/12/19 finance manager, marketing manager, operational manager, product analyst 10 days Performance testing 5 days Wed 1/30/19 Tue 2/5/19 marketing manager, product analyst, Project manager, test engineer 0 days Identify necessary changes 5 days Wed 2/6/19 Tue 2/12/19 finance manager, marketing manager, operational manager, product analyst, Project manager, software developer, software designer, test engineer 0 days This table shows the tasks that have been over allocated in the study and consists of slack period. Therefore, these tasks will not have any impact on the overall schedule of the project. Thus, the over allocation of resources can be reduced to reduce the budget of the project. However, if there is over allocation of resources in critical tasks then reducing the resources will increase the time span of the project. The allocation of resources in most of the tasks in unnecessary and in the initial task excessive resources which has increased the cost structure significantly. Thus, the project management team will have to reconsider the use of resources which can the overall cost structure especially on the critical task. Budget Status Task Name Duration Start Finish Cost User Requirement Analysis 40 days Wed 11/1/17 Tue 12/26/17 $107,920.00 Trend analysis 10 days Wed 11/1/17 Tue 11/14/17 $31,040.00 Survey and pilot Study 15 days Wed 11/15/17 Tue 12/5/17 $46,560.00 Identifying the requirements 15 days Wed 12/6/17 Tue 12/26/17 $18,960.00 Formulating documents 5 days Wed 12/6/17 Tue 12/12/17 $5,120.00 Functional Specification 10 days Wed 12/6/17 Tue 12/19/17 $6,240.00 Milestone 1: User Requirement Analysed 0 days Tue 12/19/17 Tue 12/19/17 $0.00 Designing the solution 130 days Wed 12/20/17 Tue 6/19/18 $191,760.00 Analysing the specifications 10 days Wed 12/20/17 Tue 1/2/18 $6,240.00 The budget status for the project shows that 135,888.00 have already been spent in and the remaining cost of the project is 378,792.00. These tasks show shown in the table are completed tasks and majority of the project is still in the process. The tasks are progressing as planned by the project management team. However, the cost incurred in each of the tasks could have been reduced, as none of the tasks were critical and does not have any impact on the overall time schedule of the project. Risk review Risk review is the process of reviewing the different aspects in detail so that all the risk associated with the processes can be mitigated. The various aspect of risk review will consist of deliver, people, resources, capabilities, legal, finance, management, process, relationship, asset management and technology (Stingl Geraldi, 2017). In this project after reviewing of the various aspects, it has been found out that resources have been over allocated, operational manager, marketing manager and finance manager have been over used and there is places where their involvement is not required but still they have been assigned to such tasks. This risk has to be mitigated immediately so that cost of the project can be reduced. Moreover, increase in overall project cost will reduce the profit margin of Samsung so it should be take in to account to improve revenue generation for the organization. There is a slack period in some of the task, which should be reduced as resources will have n o impact on the time span of that task and have been allocated to other tasks where adding extra resources will reduce the time span of the overall project. Project and personal reflection This project has provided an in depth learning process for me as I have difficulties in various phases of this report. While formulating the data in Ms Project, I have acquired knowledge about effective use of project management. Selection of topic and identification of the project scope took a lot of time but I have been able to develop an effective scope for the project by identifying the different process. Reflecting upon the project that I have developed it can be seen that there are many issues in the execution process and I have gained knowledge about the ways of identifying the risk factors and the issues that may be crucial for affecting the time span of the project. I have developed a project status report for the first time, which has helped me explore boundaries I had no idea. I had to set a status date and use other functions such as updating the report and calculating slack which I had never done before. Thus, I have been able gather effective knowledge, which i can use later in the study. Conclusion Thus, it can be concluded from the study that the status report suggest that 17% of the overall project has been completed. The project status has provided insights on allocation of resources, budget, overall cost and remaining cost of the project. The report shows that there has been over allocation of resources in some of the cases in both critical and non-critical task. However, nothing can be done about the deliverables and milestones that have been completed. Thus, the status will prevent the issues and risk factors in the remaining part of the project. References Collins, W., Parrish, K., Gibson Jr, G. E. (2017). Development of a Project Scope Definition and Assessment Tool for Small Industrial Construction Projects.Journal of Management in Engineering,33(4), 04017015. Kerzner, H., 2017.Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley Sons. Nicholas, J.M. and Steyn, H., 2017.Project management for engineering, business and technology. Taylor Francis. Samsung Electronics America. (2018).About Us | Samsung US.Samsung Electronics America. Retrieved 11 January 2018, from https://www.samsung.com/us/aboutsamsung/home/ Schwalbe, K. (2015).Information technology project management. Cengage Learning. Snyder, C. (2017).A project manager's book of forms: A companion to the PMBOK guide. John Wiley Sons. Stingl, V., Geraldi, J. (2017). Errors, lies and misunderstandings: Systematic review on behavioural decision making in projects.International Journal of Project Management,35(2), 121-135. Verzuh, E., 2015.The fast forward MBA in project management. John Wiley Sons. Walker, A., 2015.Project management in construction. John Wiley Sons.