Project Management: 1.

Executive Summary: SAM perfume is a public limited company which sells its perfume to the retailers in the market. This report will be concerning on the project of two(non alchohlic) products running for the period of 3 month. After the assigned period the selection of one of the product under the budget of 6000 pound. Moreover this report will evaluate the reflection on the project planning process(NPV method) and conclude which product will be ideal to go with in future.

2. Introduction: This report is regarding my clear understanding of project management its scope and planning and project selection method. This paper will show work on my project assign in a SAM prfume company in selection from the two non alchohlic products. Moreover the project objectives, milestone all the stakeholders who are intrested in and the risk involved within the project.

3.1Project: A task or job that has to be finished by the given time under the provided buget can be called a project. According to BSI (2000) as cited in Richard Newtons (2009) that a unique set of coordinated activities, with a definite starting and finishing point, undertaken by an individual or organization to meet specific objectives within defined schedule, cost and performance parameters. My project was to sell the two new products for the 3 month period starting 1st June 2010 and ending 31st August 2010 and with the consumers demand and highest profit select one of the products.

3.2 Project Management: Project management is a plant of knowledge, tools and management process demanded to finish a project successfully. According to Merdith Mantel (2003) Project management provides an organization with powerful tools that improve its ability to plan, implement and control its activities as well as the ways in which its utilizes its people and resources.

4.0 Characteristic of Project To clearly run the project and successfully finish it we should have focus on the given budget and the time allocated.

4.1 Time of The Project: In every project timing is very important issue. To finish the given job or task on the assign deadline is the most important part in all projects. Moreover some business pressurised the one dealing with the project in order to finish it before the deadline. According to Pinto (2011) project are constrained by a specified time frame during which they must be completed. My project starting date was 1st June 2010 and finish date was 31st August 2010. A 3 month time period in which I did the competitor research on 10th June to know what different I am doing from my competitors. My product promotion on 15th July in order to increase the sale. On 31th august was the customer review to know what are the customers expectations and feedbacks on my products and also the product selection by using NPV method.

4.2 Budgeting: Budget is also a very important restriction in all projects. A project should convene the budget granted in command to utilize the resource as properly as possible (pinto, 2011). My project budget was 6000 which was divided in half to each of two products. These allocated budget was then sub divided into the competitor advatage research 2000 and then promotion 4000 because for promotion of product I had to do the marketing for 1 month.

4.3 Human Resource: People that will be used in the project. Two types of people are involved one with motivation and the other with knowledge (Nelarine Cornelius, 1999). Project will go up with the motivated and knowledgeable

people included in it. For my project I assigned some marketing work to marketing department , Mr Zaman my senior manager who funded me with the budget and myself as a project manager and accountant.

5.0 Scope of the Project: The objectives , the milestones over the project ,the limitations almost everything project its expected result is the scope of project. My

project is based on the selection of the product it will not affect the service it will only have a good impact on its sales department.

5.1Project objectives: Objectives are goal of the given project and the achievment to be observe as a successful.Theoretical expansion ending with an

understandable statement of the objectives for the given project in expressions of output, necessary resources and timing (Pinto,2011). My project objective was to do the popularity of new product to the customers need and helping in increasing of sale during my project time period.

5.2 Project deliverable: The outcome of the given project and the beneficiary of the external and internal department by getting the projects outcome. According to ( Pinto, 2011) any measurable, verifiable outcome, result or item that must be profuced to complete a project or part of the project. My project deliverables were to do the rite research and sell the products and give my company a new profitable product which helps them in increasing of sales for future.

5.3 Milestones. A project does not survive as configurations only to complete an actions, but are done to attain an end result. The milestones can be the important check point in the project which have to be accomplished these can occur naturaly or project lifecycle even and have dates accompanied with them(Richard Newton, 2009). The milestones for my project are as follow: research in competitor market. ( June 10 1st July)

Product Marketing(promotions) ( 15th july- 15th August) Customers Review (15th August 31th August)

5.4 Technical Requirement: Now days almost every project has its own technical requirements. As my project was focused on customers demand and needs so I had to go through advertising procedure. I used Internet facility for giving information and advertising related to the product through the company website to the customers. If I didnt had use the computer or internet technology I would not had able to finish my project.

5.5 Limit and Exclusions: The limit and exclusion of any project can be defined as the face to what or what not can be done during the track of the project. Disappointment to this can direct to unreasonable hopes and the wastage of time and budget funded. In my project if I did not had done enough marketing or promotion through which customers were acknowledged of new product then my project could had failed.

5.6 Risk: As risk is present in all type of projects and can affect earnings. For my project I had commercial risk because after introducing my product in the market place I could not predict whether the people will like the product in future or not because it is newly non alcoholic product. This risk can be assess by satisfying the customers according to their needs and guaranteed future convenience.

5.6 Customers Review:

Completion of any project checklist is done by getting the customers reviews. I did my customers reviews for my products on 30th august and after this came to a conclusion of which product to select.

6.0 Work Break down Structure:

Project

Bakhur

Ater

Competitor Research

Competitor Research

Marketing

Promotion

Marketing

Promotion

Customer Review

Customer Review

NPV Selected "Bakhur"

7.0 Project Selection Method (NPV) As I had to select one of the product so I decided to the selection by NPV method because NPV is the most popular financial decision making tool. the difference between the present value of cash inflows and the present value of cash outflow (investopedia). Initial investment for project A is 3000 and for B is 3000. As NPV is always calculated in cash so I did the depreciation to convert my profit into cash. PRODUCT A- BAKHUR
Month 0 1 2 3 Profit Depreciation Cash discount at 10% PV

100 350 500

1000 1000 1000

Initial Investment (3,000) 1100 1/1.1 = 0.909 999 0.909/1.1 = 1350 0.826 1115 0.826/1.1 = 1500 0.750 1125 239 NPV =

PRODUCT 'B- ATIR'

Month 0 1 2 3 Profit Depreciation Cash discount at 10% PV

50 100 200

1000 1000 1000

Initial Investment (3,000) 1050 1/1.1 = 0.909 954 0.909/1.1 = 1100 0.826 908 0.826/1.1 = 1200 0.750 900 -238 NPV =

After doing my NPV of both products I came to conclusion to select product A because its NPV is positive and greater then product B

8.0 Stakeholders: According to (Kerzner, 2009: 6) Stakeholders are individuals or organizations that can be favourably or unfavourably impacted by the project. As such, project managers must interface with these stakeholders, and many of the stakeholders can exert their influence or pressure over the direction of

the project. For my project in the internal sector the senior manager will be the stakeholder because he will be benefited with the new profitable product and employee will be interested with the new non alcoholic products. In the external sector the customers who can get the new non alcoholic product for affordable price, competitors and general public in which the Muslim communities can come for whom the Alcoholic products are prohibited.

9.0 Conclusion: Finally after the discussion and reflection on my project it can be found that without having the project management and its scope my project or any project would be very difficult to manage. Project scope method helped identifying all the important activities which have to be done in project and project selection method NPV helped to select the product easily. 9.1 Recommendation: Alajlan collections is planning to offer free sample of the selected product ' BAKHUR' to the customer this idea will cost much in the beginning but if this idea will be successful then our company will make more profit in future. Moreover we will be doing billboard advertising with well known faces instead of only doing advertisement on internet. `