The project at hand is designed to launch a new product to the market. The product is to trade with the trademark name, Lodox Statscanner X-Ray Unit and targets medical institutions. This project report provides cost, quality, and work breakdown analysis. With regards to the target market, the product line, in this case, is aimed at mitigating service costs while at the same time aiming to reach as many medical institutions as possible. The product provides quality service and fast evidence-based radiology scanning. The Lodox will provide the grounds for implementing improvements and an overhauled approach to healthcare service delivery. The usability and advantages of using the Lodox will be showcased and promoted during the launch that will feature product placement, advertising, price promotion, and mass media publicity during the project lifecycle.
The objectives of a project are intertwined with the initial purpose of developing the project. In this case, the correlation between the purpose of the project and the objectives of the project ensure that resources are wisely allocated to their specific areas and that risks of mismanagement of resources are eliminated (Belbin, 1996). Therefore, with the purpose of Lodox Company in acquiring a new the market for Lodox, the following objectives are developed:
- To create a marketing strategy that allows flawless movement of information between the parent company and medical institutions
- To staff the marketing department with qualified personnel who will undertake the responsibilities entrusted to them
- Developing a product launch system that minimizes expenditures in terms of time management, resource utilization and managing, and control of orders
- Creating a seamless interaction of activities, resources, and interaction between the product company and potential customers
The launch of the product aims to accomplish three major outcomes. Firstly, the project must adhere to the strict guidelines of the company whose product line is launched. Secondly, spending should be mitigated to ensure that refinancing is avoided under all costs. Third, resources should be accounted for and only applied to the task at hand. An external auditor is consulted for this task.
The project is a hired service and therefore, planning and execution are subject to external opinions which may deter completion within the set period of time. Additionally, the budget estimation is based on abstract accounting on changing labor market and equipment prices.
Technical requirements and project authenticity
To test the feasibility of the project, the number of objectives is compared to the actual need of the project. Setting up the market for Lodox is an activity that has been completed prior to the development of this project. Hence fore, the project ensures relevance to the needs of Lodox Company in that it considers the needs of the company in acquiring the new the market for Lodox Statscanner. In this case, the purpose of the new the market for Lodox is to take up the customer load in order to make the company much profitable. Therefore, the aim of the project is to allocate specific variables to specific areas in order to accomplish the company’s goal of outsourcing market for the product. The allocation of specific variables to specific areas takes the notion that, if all resources are allocated in a timely manner with precision to purpose and relevance, the project would be in sync with the company’s goals (Beer, 2012). While considering such variables as space, workforce, and customer service; areas of concern are mostly associated with product launch as Lodox Company is a manufacturing company, communication as the company needs to appeal to its employees and customers, and structure of management as the company uses the services of its employees to attract and retain customers. However, the project’s main aim is to ensure that these areas fit together in the most appropriate manner understandable to the management, economical in both short and the long term, and flexible to financial, communication, and managerial changes. Therefore, the project qualifies as one that is viable and focused in managing, allocating, and accounting for resources in each stage.
The project proposal presented to the directing manager of Lodox Company representing the board of directors, was approved and the format praised for meeting the company’s expectations as well as resembling a prototype the company had developed on its own. According to the approval form from the board of directors, the project is cleared for commencement on May 1, 2014, and scheduled to complete in May 30, 2014.
The project is allocated seven members including an external auditor. The team comprises of the project manager who is in charge of planning for the project. In this case, the planning phase enables the manager to assess the scope of the project, the urgency of the project, and the competencies required by the team members. In addition, two product launch analysts and program developers will be in charge of the marketing systems development. Another pair would comprise of communication system’s analysts and developers to ensure that communication processes and resources are seamless (Leonard, 2010). One financial analyst would be in charge of budgeting and compiling financial reports regarding members’ compensation, expenditure on setting up the systems and other related expenditures. Lastly, one member will be a tasks supervisor who will also act as a reporter informing various entities of the progress made and how on or out of schedule the team is. The seventh member will be an external auditor recommended for the Lodox Company to promote transparency (Meredith, and Mantel, 2003).
The scope of this project is determined by the number of variables considered as well as any hindrances that arise from it. In this case, the aim of the project is to launch a new product line that can accommodate the needs of medical institutions dealing with oncology services, satisfy the available customers, and limit expenditures resulting from current slower machines used scanning. Therefore, these areas determine the duration with which the project will take, the number of members aboard, and the best protocol to be followed in developing the project. 30 days on the project are allocated to initiate and conclude the project in terms of duration (Handy, 1993). Seven members are selected as the propagators of the project within the allocated time frame. With the tasks and responsibilities of each member, the budget for the project is determined as $2,000,000 with the company ready to add $1,000,000 if the need arises.
The project budget is summarized in the table below with consideration to working hours of members and material purchase:
|Item||Member/Item||Quantity||Responsibility||Skills||Duration in hours $ 200/hr||Budget|
|Project Management||Project Manager||1||Managing the Team||· Planning
· Team building
|Product launch||· Product launch analyst
· Product marketing system developer
|2||· Analyzing the flow of inventory
· Compiling a list of possible options
· Selecting the best system
· Developing product launch system program
|· System analysis
· System diagnosis and troubleshooting
· Statistical analysis
|Financial Analysis||Financial Analyst||1||· Budgeting
· Compensating members
· Book keeping
· Keeping financial records
|· Book keeping
· Risk analysis
|Communication Analysis||Communication systems analyst||1||· Developing communication channels
· Recommending best systems
· Authenticating communication systems
|· Communication systems analysis
· Diagnosis and troubleshooting of communication systems
|Communications systems’ development||Communications systems’ developer||1||· Developing communication systems
· Setting communication channels
· Networking communication devices and platforms
|Operations management||Tasks supervisor||1||· Reporting on schedules
· Reporting on progress
· Analyzing resource utilization
|· Performance appraising
· Reporting compilation and development
· Presentation and analysis of reports
|Communication system development and material||Communication system developer||1||500,000|
|Marketing development and material acquisition||Marketing system developer||1||600,0000|
|Equipment and stationary||1||10,000|
|Selection and training||1||20,000|
|Risk management and emergency budget||1||100,000|
|Securing of parking lot||1||·||·||6,000|
|External auditing||External auditor||1||· Ensuring consistency in financing
· Identifying inconsistencies in book keeping records
|· Book keeping
Table 1: Work breakdown analysis
With reference to the work break down analysis presented in table 1 above the implementation process starts with the understanding of the tasks that are entrusted with each of the team members selected for the project. In this case, the implementation process starts with allocating offices before the launch of the Lodox Statscanner. The offices will be of use by the General Manager, Assistant Managers, Administration staff, sales staff, and warehouse staff. In this case, each office will be representing a department upon which the size and appearance will reflect the number of staff working within the department as well as the activities taking place within it (Berkowitz, 2010). For example, the general manager’s office will be a small office central to the rest of the departments ensuring easy access. The sales department will have a big open office platform that will allow them to coordinate under the regulations of the sales department. After the offices are set up the following activities will be embarked on:
- Allocation of storage area
- Allocation of parking area near the entrance to the warehouse
- Allocation of surveillance system to ensure monitored activities during the launch
- Installation of communication systems across the departments to facilitate communication
- Networking of workstations to control sales and authorize dispatch of orders
- Integrating the product launch program to the warehouse management workstation
- Allocation of company devices to enable communication on the go
|Budget Allocation||2 days|
|Schedule briefing||1 day|
|Training members||2 days|
|Allocation of storage area||2 days|
|Material purchase and assembly||2 days|
|Allocation of parking area near the entrance to the warehouse||2 days|
|Installation of surveillance system||1 day|
|Installation of communication systems across the launch venue||2 days|
|Networking of workstations||2 days|
|Integrating the product launch program to the launch site management workstation||5 days|
|Allocation of company devices to enable communication on the go||5 days|
Table 2: scheduling
With reference to the work schedule presented above, the approximate number of days allocated at the start of the project is beaten by six days allowing the team to analyze and diagnose any mishaps in the systems. In addition, the project is within budget and therefore does not need the extra $1,000,000 from the company. This shows that the project was successful in two major areas namely timing and budgeting. According to the external auditor, the accounting of every cent was accomplished successfully. According to the internal operations supervisor, each team member displayed a high degree of commitment and dedication to his/her area of work.
|Task||Start||Duration in hours||Done|
|Communications System Management||05.09.2014||24||50%|
|Communication system development and material||05.11.2014||24||96%|
|Marketing development and material acquisition||05.13.2014||48||100%|
|Equipment and stationary||05.15.2014||36||69%|
|Risk management and emergency budget||05.15.2014||12||100%|
|Securing of parking lot||05.21.2014||24||100%|
The gnat chart above shows the arrangement of tasks with reference to their duration of execution as well as their expected completion dates. In this case, the gnat chart comprises of 20 tasks from which two levels are combined to meet time and quality management requirements. The combined tasks involve the development of communication systems and their implementation and development of marketing systems & implementation (Martin, 2003).
The critical path in this case is an approach that enables the management to determine the best time frame with which to work with. With regards to the teamwork approach presented in this approach, all members of the project are expected to deliver services that coincided with their areas of expertise. Additionally, the resources allocated are only applicable for the execution of the project only and therefore determined the number of tasks to be considered as priority. Besides the actual launch of the Lodox, the project considered several inputs that needed the allocation of funds. For example, the launch required the selection of a launch site from which the product could be launched and opened for viewing to potential clients. Additionally, the sizes of the product required transportations for any onsite purchases thus prompting the need for a parking lot. The parking lot would be allocated near the sales’ department as order would be picked from the adjacent warehouse. Additionally, the number of people willing to make purchases at the launch site was allowed to view and test the products before they were loaded to either personal or after sale transport means. After-Sale transport means are allocated as tasks for the project as they consumed time to load and deliver (Kerzner, 2010).
Beer, P. (2012). Lodox to Star in Grey’s Anatomy. Available online at http://www.caperay.com/blog/index.php.2013/lodox-stars-in-greys-anatomy/
Berkowitz, Eric N. (2010). Essentials of Health Care Marketing, 3rd Edition. Jones & Bartlett Learning.
Folio, L. R. (2010). Combat Radiology: Diagnostic imaging of blast and ballistic injuries. New York: Springer Science + Business Media, LLC.
Kerzner, H. (2010), Project Management: A systems approach to Planning, Scheduling, and Controlling –Six edition. Willey & Sons Publishing.
Leonard J. King, David C. Wherry. (2010). ABC of Imaging in Trauma.John Wiley & Sons, May 5.
Martin, H. (2003). Market Strategy. Chicago: Grin Inc.
Meredith, J. Mantel, S. (2003), Project Management: A Managerial Approach, Fourth Edition. Cengage Learning.
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