MCR007 Understanding Project Management Essay 1 Sample
Design a project proposal related to either your home or workplace (such as a planned extension, overhaul or refurbishment, IT infrastructure expansion) or a large private function for an extensive audience (for example, a wedding reception or a music festival or a marketing promotional campaign) or the establishment of a hypothetical business.
You should look at a problem that needs to be solved or an opportunity that could be exploited through the implementation of a project proposal. Prepare a detailed analysis incorporating all discrete tasks, costs, time frames resources, outcomes, stakeholders and contingencies.
NOTE: This assessment MUST be in an essay format and address the planning of an original proposal, not an evaluation of a project proposal that has already been undertaken.
WORD LENGTH: 1,000 words (approx.).
Project Proposal Outline
The parts of a project concept proposal outline will vary depending on the type of project. However, your project description should contain the following elements:
Parts of a Project Proposal Outline:
1. Project Title: Aim for a short, unambiguous, and memorable title.
2. Introduction: What does the assessment require you to do?
3. Background: Briefly explain the problem or opportunity and why the project is necessary.
4. Scope: Define the size / complexity of the project and specify the resources (people, equipment and raw materials) needed for its execution.
5. Objectives: Write a one or two-paragraph explanation of what the project aims to accomplish. Set specific and measurable project goals. Avoid delving deep into past projects. Identify SMART project objectives, defined as follows:
Specific: Answer who; what; when; where; and why.
Measurable: How will you measure success and evaluate the project?
Achievable: Set goals that are possible to accomplish with the available resources.
Relevant: Goals should be aligned with your organization’s mission.
Time-bound: Include intermediate and final deadlines for each goal.
6. WBS or Phases of Work: Break down the project into phases that describe the desired outcome for each. Identify the project deliverables and milestones.
7. Metrics for Evaluating and Monitoring: Briefly explain your methodology. Include any key technologies or project management techniques you’ll use and why they’re appropriate. Include the metrics you’ll use to evaluate the project’s success.
8. Timeline: Include a general timeline and outline the timeline for each phase, including the basic tasks that you will accomplish, with start and end dates.
9. Budget: Include the total estimated costs of the project and how much you have budgeted. Use a project budget template for a more detailed breakdown of budgeted and actual project expenses.
10. Risk Assessment: Describe the risks associated with the project and the contingencies (alternative action plans) to address such risks to ensure the project’s success.
11. Conclusion: Write a one-paragraph summary that includes the main points of your assessment.
12. Bibliography: Include at least five references as per the Harvard University Reference System.
Solution
Project title
Social media content improvement in fast fashion industries of the UK
AIM: This project aims to analyse the impact of content creation on the brand value of the fast fashion industry in the UK.
Introduction
The fast fashion industry of the UK is trying to gain more value in the competitive edge and hence it is trying to improve the content for better marketing efforts. Notably, content improvement in social media is essential as it helps business organisations in the UK’s fast fashion industry gain a competitive advantage. The purpose of the assessment is to analyse the background of this topic along with its scope. SMART Objectives related to the topic will also be formulated along with a timeline and budget. Phases of work and risk assessment will also be highlighted here.
Background
Social media is one of the effective platforms that help improve the content that fast fashion organisations in the UK are developing. This eventually helps in improving the organisational value as well. It is observed that content and social media feed off each other and work following each other to gain a competitive advantage (Ramadan and Nsouli, 2022). Developing engaging content and posting it on various social media platforms helps organisations in the fast fashion industry attract customers. It can be referred to as a promotional practice that helps fast fashion companies to attract a massive number of customers, which leads to the enhancement of sales and profit maximisation. There are sundry ways with the help of which companies can be able to improve their content to engage more customers.
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Figure 1: Social Media Content in different years
Source: (Patel, 2021)
One of the ways that help the business organisation to improve the content on social media platforms is a Better understanding of the target customers (Nash, 2019). Social media can be referred to as one of the essential tools that help get enhanced knowledge of target customers. Social media helps in receiving insights regarding customers' daily practices, including when the customers are online and what content helps in more customer engagement. Moreover, it is also observed that curated content is one such strategy that helps improve the content and changes the buying perceptions of people. This helps add unique value to the fast fashion companies in the UK.
Scope
Social media is quite helpful in developing enhanced content as it helps in attracting customers. Moreover, it is significant to note that social media helps craft user-generated content. This is one such tactic that is quite helpful in boosting the reach of the content and showing appreciation for longtime followers (Challa and Anute, 2021). Improvement in the content is required by the companies operating in the fast fashion industry of the UK as it helps delight more customers. This also helps business organisations to gain maximum benefits in the competitive market. Social networking platforms also help customers digest the content that fast fashion companies usually prepare (Noris et al., 2021). It also helps the company to serve exclusive content to delight customers and enhance the profit margin of the company as well (Youn and Cho, 2022). Social media can also be referred to as one of the incredible tools that help in solving various issues. Social media content improvement helps attract a vast number of customers, which helps in brand awareness and eventually leads to better profit margins for companies in the fast fashion sector of the UK.
SMART Objectives
Table 1: SMART Objectives
Source: (Self-developed)
Phases of Work
There are various phases for university assignment help in which the fast fashion industry can develop social media content in the UK.
Phase 1: Learning about the target customers: It is significant to note that studying the audience usually aids in deciding the posts that will help fast fashion companies gain maximum benefits in the competitive market (Brydges and Sjöholm, 2019).
Phase 2: Setting up goals: Goal-setting is another critical phase that helps business organisations implement specific strategies with the help of which the company can accomplish all its goals (Athwal, Istanbulluoglu and McCormack, 2019).
Phase 3: Conducting a competitive analysis: This helps the business organisation gather more market knowledge. This will also help the company come up with certain products and commodities that can cater to customers' demands (Nash, 2019).
Phase 4: Gathering information regarding the content: The fast fashion companies are responsible for collecting content for developing engaging content that will help the company gain maximum benefit in the competitive edge (Aji, Nadhila and Sanny, 2020).
Phase 5: Development of the content: This helps engage the customers and get enhanced satisfaction.
Through these stages, the companies can meet the demands of customers. This will help the companies to reach the milestone with enhanced sales and improved profitability.
Metrics of Evaluation
A survey will be conducted by asking close-ended questions to almost 139 customers from the fast-fashion industries of the UK. Artificial Intelligence and the Internet of Things are technologies that companies will use to foster innovation and develop improved content to fascinate more customers. Significantly, critical path method, Work breakdown structure and project planning are some of the project management techniques that the fast-fashion companies of the UK will be implementing (Peters, Li and Lenzen, 2021). Feedback from customers is one such metric that will help measure the project's success.
Timeline
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Figure 2: Timeline of the Project
Source: (self-developed)
This figure shows the timeline within which the entire project will be completed by the fast fashion industry of the UK.
Budget
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Figure 3: Budget of the fast fashion industry for content improvement
Source: (Self-developed)
The above budget planning is depicting the monetary information of the fast fashion companies in the UK. The company has opened its market with 2000 pounds and from this, the company has invested its money for a year in various things so that the company can be able to meet the needs of the customers. Significantly, it is also noticed that the company has also saved a certain amount to gain a competitive advantage in the marketplace (Niinimäki et al., 2020).
Risk assessment
The privacy setting is one of the most significant risks this project will experience. Significantly, due to privacy and security concerns, this project will be discarded by the general public (Youn and Cho, 2022). This is one such threat that is also responsible for bringing down the company's annual turnover. Imposter accounts are another significant risk the fast-fashion industry in the UK faces. Hence, it is noted that the improved content by this industry can attract active social media accounts. Phishing and scams are also certain risks that lead to the degraded value of the company. It is noted that proper channels that help improve the content and reduce the chances of scams help overcome these strategies as well.
Conclusion
Social media content creation is a project that can be regarded as a promotional campaign by the fast fashion industry of the UK. This project helps in improving the brand awareness and value of the company. Moreover, the risks of phishing and scam are also discussed here. The SMART Objectives, timeline, and budget have also been analysed here.
Bibliography
Aji, P., Nadhila, V. and Sanny, L., 2020. Effect of social media marketing on Instagram towards purchase intention: Evidence from Indonesia’s ready-to-drink tea industry. International Journal of Data and Network Science, 4(2), pp.91-104. DOI: 10.5267/j.ijdns.2020.3.002
Athwal, N., Istanbulluoglu, D. and McCormack, S.E., 2019. The allure of luxury brands’ social media activities: a uses and gratifications perspective. Information Technology & People, 32(3), pp.603-626. DOI: https://doi.org/10.1108/ITP-01-2018-0017
Brydges, T. and Sjöholm, J., 2019. Becoming a personal style blogger: Changing configurations and spatialities of aesthetic labour in the fashion industry. International journal of cultural studies, 22(1), pp.119-139. DOI: https://doi.org/10.1177/1367877917752404
Challa, A. and Anute, N., 2021. The Effectiveness of Instagram Content Marketing on Brand Building of a Company. Journal of Sales, Service and Marketing Research, 2(2), pp.1-7. DOI: https://doi.org/10.46610/JSSMR.2021.v02i02.001
Nash, J., 2019. Exploring how social media platforms influence fashion consumer decisions in the UK retail sector. Journal of Fashion Marketing and Management: An International Journal, 23(1), pp.82-103. Available at: http://eprints.bournemouth.ac.uk/30793/3/Paper.%20version%20submitted%20Social%20media%20influences
%20on%20fashion%20consumers_paper%20.pdf
Niinimäki, K., Peters, G., Dahlbo, H., Perry, P., Rissanen, T. and Gwilt, A., 2020. The environmental price of fast fashion. Nature Reviews Earth & Environment, 1(4), pp.189-200. DOI: https://doi.org/10.1038/s43017-020-0039-9
Noris, A., Nobile, T.H., Kalbaska, N. and Cantoni, L., 2021. Digital fashion: A systematic literature review. A perspective on marketing and communication. Journal of Global Fashion Marketing, 12(1), pp.32-46. DOI: https://doi.org/10.1080/20932685.2020.1835522
Pantano, E., Giglio, S. and Dennis, C., 2019. Making sense of consumers’ tweets: Sentiment outcomes for fast fashion retailers through Big Data analytics. International Journal of Retail & Distribution Management, 47(9), pp.915-927. Available at: https://eprints.mdx.ac.uk/25365/1/Sentiment%20Analysis_fast-fashion-twitter%28rev1%29.pdf
Peters, G., Li, M. and Lenzen, M., 2021. The need to decelerate fast fashion in a hot climate-A global sustainability perspective on the garment industry. Journal of cleaner production, 295, p.126390. DOI: https://doi.org/10.1016/j.jclepro.2021.126390
Poturak, M. and Softic, S., 2019. Influence of social media content on consumer purchase intention: Mediation effect of brand equity. Eurasian Journal of Business and Economics, 12(23), pp.17-43. DOI: https://doi.org/10.17015/ejbe.2019.023.02
Ramadan, Z. and Nsouli, N.Z., 2022. Luxury fashion start-up brands' digital strategies with female Gen Y in the Middle East. Journal of Fashion Marketing and Management: An International Journal, 26(2), pp.247-265. DOI: https://doi.org/10.1108/JFMM?10?2020?0222
Youn, S.Y. and Cho, E., 2022. CSR ads matter to luxury fashion brands: a construal level approach to understand Gen Z consumers' eWOM on social media. Journal of Fashion Marketing and Management: An International Journal, 26(3), pp.516-533. DOI: https://doi.org/10.1108/JFMM-12-2020-0269
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