Project Context

Planning is one of the most crucial aspects that ensures that the launch of a newly developed product is successful. The launch of a product is preceded by multiple other operations that includes, development, manufacturing and marketing. The discussed project plan is dedicated towards a new product development. The product in development will be a new range of premium soups for PepsiCo Inc. The discussed firm is a global leader of beverages, snacks and drinks and hence, offers a brand value that will be attached with the launch of the new product. Hence, the development of the project plan for the development of the new product have been done accordingly.

The plan in the following sections have offered project context and rationale for the proposed plan. Furthermore, some project management techniques have been developed and discussed in context with the firm and the product. The discussed techniques include SWOT analysis, Work Breakdown Structure (WBS), Gantt Chart, Risk Analysis, RACI matrix and Stakeholder Management Strategy (SMS). All the discussion of the selected techniques has been done while the images have been appended in the appendices section. Finally, the whole plan has been concussed and summarised in the conclusion section to conclude on the paper.

PepsiCo is a major food and beverages brand that have established itself and is now planning to launch a new premium range of soup for its customers. The brand is known for its young customer base and its unhealthy nature of products. Hence, the discussed product is crucial as it will mitigate the image of the brand as an unhealthy brand and will offer it diversification so that it can jump in new product development and launch. Furthermore, the economic benefit offered by the product is another crucial aspect that needs to be taken in consideration and hence, it is crucial to define the project for the development, production and launch of the product efficient. The project will also address the sustainability issue of the firm because of the growing consciousness towards health products among the customers around the globe.

The project in discussion is crucial for the firm as it will open new ways for the firm to move in other directions. Furthermore, the growing awareness about the health consciousness also makes it a great opportunity for the firm to earn more revenue and establish itself as a brand that offers healthy food and in the process will offer sustainability to the firm in long run. Another important advantage of the project is that Pepsi is a globally established brand and is reachable to in even the most remote area where other soup brands are not reachable. It provides the firm with the opportunity to capture those areas and become a global leader which can be leveraged to gain competitive advantage. Hence, it is crucial to define different aspects of the projects to ensure the success of the project because the product can prove to be very crucial and beneficial for the firm in discussion and will eventually benefit the customers.

Rationale for Proposed Plan and Choice of Methods

The discussion above has made it evident that the product and project is beneficial for the firm. However, it beneficiary will not be the firm only but will also benefit the customers and the society. The discussion above has made it evident that the firm is a global brand and can even reach the most remote area availing the customers at those areas with the opportunity to live a healthy lifestyle and the discussed benefit will also extend to the state and eventually globally. Furthermore, with PepsiCo, other major companies will also jump in the competition offering customers with more opportunities and benefiting as a whole in the long term.

The project plan in discussion have selected six different project management techniques/ methods to detail different aspects of the project. The selected methods are SWOT Analysis, Work Breakdown Structure, Gantt Chart, Risk Analysis, Responsibility, Accountability, Consulted and Informed (RACI) Matrix and Stakeholder Management Strategy. The selected methods/ techniques are very crucial part of the project management as they define different aspects of a project. SWOT analysis will present the project team to assist in understanding different opportunities and challenges that is being faced by the product and the firm so that proper decision can be made. The WBS will enable the project team to carry out the activities of the project with greater efficiency and accuracy so that a successful delivery of project can be made. The Gantt Chart will assist the team to follow a proper schedule based on the activities. Risk Analysis will mitigate the chance of project failure and hence has been selected as part of the discussion. The RACI matrix will define the roles of different stakeholder and hence, it has been selected so that every stakeholder will act accordingly. Finally, stakeholder management plan has been provided so that a proper management can be done to ensure that the delivery of project is successful.

The image attached in the appendix 1 is a summary of the SWOT analysis of the proposed project. The analysis has presented the strength, weakness, opportunity and threats of the new product.

Strengths:

1. PepsiCo is one of the biggest Brand and the discussed brand value of the firm will enable them to establish their new product fast and with great efficiency.
2. Leadership is one of the most prominent aspects of PepsiCo and will help in the success of the to be launched product.

• Distribution and Supply Chain of the firm is broad and effective which will enable the firm to reach even the remotest areas making the reach feasible.

1. Tie Upsof the firm will be utilised to promote the product in major events such as sporting events, music concerts and others.

Weaknesses:

1. Competition is one of the major concerns for the firm because firms like Healthy Choice, Lipton and others are well established brands for canned soup.
2. Perception towards PepsiCo is of making the unhealthy drinks which may lead to lack of interest towards product.

• The brand is known as a Youngster Brand so it may be challenging for them to attract other age grouped customers who are interested in soups.

1. Past failed products such as ‘Crystal Pepsi’ is a weakness of the brand that it need to cope up.

Opportunities:

1. Healthy Options is one of the best options that the company can leverage to attract more customers.
2. Diversification is a huge option that can be leveraged by the firm and with the success of this product they can jump in new markets.

• The firm can do more CSR acts to mitigate their brand image as unhealthy brand.

1. R&D is one of the ways through which the firm can come up with healthier soups in future.
2. Flavours is one of the strong opportunities that can be leveraged by the firm to promote its product.

Threats:

1. Competitors such as Lipton, Nestle and other soup producers are a major threat for the firm as they have established their soup range.
2. Unhealthy Factor associated with the company is one of its major weaknesses.

• Economic Slowdown in the sales of the firm and the global economy will be a major weakness for the firm and the launching of the product.

1. Government Norms where the canned food products are banned is one of the major challenge.

Work breakdown Structure abbreviated as WBS is a project management/ system engineering method which is deliverable oriented in nature and breaks down a project into small components so that the team would find ease of project delivery. The image attached in the appendix 2 is the work breakdown structure of the discussed project. It has offered an insight into the projects based on the activities that will be the part of the project. The activities have been divided in 4 phases that includes initial phase which will be dedicated to defining of the project, followed by project planning phase where all the project plans such as scheduling, budgeting and others will take place. The third phase is plan development phase where all the plans needed for the project will be developed and the final phase will be execution and closing phase where the development and implementation of the plans will undertake.

SWOT Analysis

The initial phase includes the project definition, objectives, scope defining and deciding activities. The project definition is the activity where the project will be defined that will be dedicated to establishing an outline for the project in discussion. In the following activity, the objectives of the project will be defined so that a proper framework for the project can be developed. The next step will be defining the scope of the project so that a clear definition of the expectation can be defined of how it will benefit the firm and its associates. The final activity will be deciding on the activities so that the project can be delivered with accuracy and effectiveness. All the activities will be dependent on its predecessors. The second stage is project planning phase where the activities will be scheduled, the budget will be dedicated, a risk assessment will be done to identify the risk and finally the approach that will be adopted to present the brand will be decided.

The next phase is plan development phase where the plan for different activities will be developed. The developed plan will be product development plan (how the product will be approached), product manufacturing plan (it includes sub-activities), marketing plan (based on the branding strategy), risk mitigation plan (based on risk assessment), stakeholder management plan, operation management plan, quality assurance plan and staffing & personal develop plan will be included. The final phase will be execution and closing phase where a press notification about the development of new product will be released so that a hype around the product can be generated, that will lead to development (of samples to ensure success), production and launching activity to close the project.

The table presented below is the Gantt Chart of the work project in discussion. The chart has been divided in different phases that starts from 3^rd January 2019 and ends at 03^rd December 2019. The activities have been divided in 4 phases that includes initial phase which will be dedicated to defining of the project, followed by project planning phase where all the project plans such as scheduling, budgeting and others will take place. The third phase is plan development phase where all the plans needed for the project will be developed and the final phase will be execution and closing phase where the development and implementation of the plans will undertake.

The table presented above is the RACI matrix of the project in discussion and reflects the core task of the project and the stakeholders along with the role of the latter in the former. The left most column represents the tasks and the top most row is reflection of the stakeholders that are part of the project. The matrix presents the relationship between the task and the stakeholders through use of different RACI matrix codes. The codes here are ‘R’ for “Responsible”, ‘A’ stands for “Accountable”, ‘C’ represents the “Consulted” and finally ‘I’ represents the “Informed”. It could be better understood by the example of Defining Project Objectives, where project manager is responsible for the task, while Human Resource and R&D (Research and Development) are consulted and Project Planner, Marketing Head and Financial Manager are informed. In certain cases, one of the primary stakeholder are also playing different roles such as in the quality assurance activity, the Quality Manager is both responsible and accountable for the discussed activity.

Work Breakdown Structure

Conclusion

The discussed project plan is dedicated towards a new product development. The plan has been developed by taking consideration of the production, development and even launching of the new product that is a premium range of soup. The product in development will be a new range of premium soups for PepsiCo Inc. Hence, the project plan has accounted for different aspects of the plan. The Project context and rationale of the project has been discussed so that a better understanding of the project in discussion. Furthermore, the justification for the methods and techniques selected for the discussion of the project plan has also been provided. The selected methods are SWOT Analysis, Work Breakdown Structure, Gantt Chart, Risk Analysis, Responsibility, Accountability, Consulted and Informed (RACI) Matrix and Stakeholder Management Strategy. 

The project plan has discussed SWOT analysis of the product and have identified that the brand image of the firm is the most prominent challenge for the firm as it is considered to be unhealthy. However, the launch of the product is also offering the firm with opportunity to mitigate its brand image and also earn high revenue because it’s for reach and brand value. The WBS and Gantt chart have presented the primary activities of the project along with the schedule for the project. The risk analysis of the product has also identified different risks that are associated with the product and those risks needs to be mitigated so that the product and the project is successful. The RACI and Stakeholder Management Strategy has offered an insight into the roles and obligations of the stakeholders. Hence, to conclude the discussion it would adequate to state the firm can leverage the product but it needs to provide proper attention to it and project planning.

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