P3. Apply each stage of the PLC to a given project, producing necessary supporting documentation for completing the project e.g. a business case, project plan, work breakdown structure. P4. Review and critique the effectiveness of the PLC in application to the chosen project using appropriate theories, concepts and models. M3. Analyse the rationale for the project methodologies, tools and leadership within the PLC for the given project. M4. Critically analyse how the use of appropriate theories, concepts and models in the PLC will differentiate between large and small scale projects. D2. Critically evaluate the PLC through a practical and theoretical exploration of its effectiveness.
ntroduction
Information Samsung Vina Electronics Company Limited
Founded in January 1995, Samsung Vina Electronics Co., Ltd is a leading manufacturer and trader of home appliances, digital TVs, and monitors in Vietnam Renowned for its innovative designs and cutting-edge technology, Samsung Vina has established itself as a trusted name in the TV and monitor market for several consecutive years The company's success has paved the way for the establishment of Samsung Vietnam Electronics (SEV), Samsung Vietnam Electronics Thai Nguyen (SEVT), and Samsung HCMC CE Complex (SEHC), solidifying Samsung Electronics as the largest foreign direct investment company in Vietnam to date.
Project Life Cycle (PLC)
Defination
The project life cycle consists of distinct stages that a project undergoes from initiation to completion, influenced by management decisions and various factors such as organizational needs and project characteristics Each phase has a clear beginning, end, and control points, all constrained by time While every project has defined start and end points, the specific objectives, tasks, and activities can differ significantly The project life cycle serves as a framework for guiding the necessary actions throughout the project's duration.
The project lifecycle consists of four key phases: initiation, planning, execution, and closure This structured framework is essential for project managers to effectively navigate their projects from beginning to end By following the project lifecycle, teams can ensure a clear and organized approach, enhancing the likelihood of successful project outcomes.
Apllication PLC in project
The project here is to bring out the marketing strategies of Samsung's new phone line, Samsung Note 20 Utra to customers compared to its rival
Iphone 11, also launched during the period when Samsung also launched new products This project implementation is done and prepared within 4 month before SamSung launches new products
The purpose, vision and mission of the project
The project aims to showcase the advanced features of the new Samsung S20 Ultra, including Space Zoom, Night Mode, optimized battery capacity, Single Take Mode, a 120Hz refresh rate, and a super speed processor, setting it apart from earlier models like the Samsung S20 and S20+.
The project's vision is to attract existing Samsung phone users seeking to upgrade to products with enhanced features and superior quality Additionally, it aims to compete with leading market rivals like iPhone by offering compelling alternatives.
The project's mission is to deliver high-quality products tailored for diverse customer needs With the motto "Bringing completely new technology experiences—smart, safe, and secure across all devices, platforms, and brands," the initiative aims to forge a better and more solid future Success will be measured through specific goals and criteria.
Apply SMART criteria to measure the feasibility and success of the new Samsung S20 Utra mobile advertising project
The Samsung S20 Ultra is designed to meet diverse customer needs with its superior features, making an effective advertising strategy crucial for swift access to product information In a competitive market like Vietnam, where numerous phone brands vie for attention, the Marketing Department will spearhead the project and collaborate with other departments to ensure successful product promotion Timely execution of this advertising initiative is essential to align with the product launch of the Samsung S20 Ultra.
Samsung Vina Co., Ltd prioritizes measurable communication and advertising costs as a crucial factor in evaluating the success of its product business The company utilizes various popular media channels, including Facebook, YouTube, television, leaflets, and in-store billboards, to effectively promote its products.
Effective project implementation hinges on meticulous planning of each step to reduce risks By adhering to the established plan, essential elements are developed, and the risk landscape is assessed, ensuring proactive strategies are in place to address potential challenges.
Realistic: The project is designed to bring benefits to 2 parties such as suppliers and customers Supplier will benefit from product sales Customers will get benefits from the new products
To ensure a successful new product launch, the project must be meticulously planned over a minimum duration of one month Clear and detailed preparations are essential, and maintaining a consistent work schedule is crucial to avoid delays that could significantly impact the project's success.
Detailed project description, conditions and risks
The project aimed to advertise Samsung's S20 Ultra products with meticulous detail, but its success hinges on favorable conditions, particularly in light of challenges like the COVID-19 pandemic Implementing the project during such economic downturns could significantly reduce its success rate Additionally, external risks such as competing products, like the iPhone 11 launch, could further impact customer demand and project viability Therefore, selecting the right timing and circumstances for the project's rollout is crucial for achieving desired outcomes.
Name and authority of the project sponsor
The overseas Samsung Company supplies this product to the Vietnamese market through Samsung Vina Co., Ltd., which oversees product trading projects and ensures the selection of suitable projects for effective implementation.
Stakeholders involved in project implementation are accountable for their decisions, while businesses must ensure that their product offerings are appropriate and refrain from arbitrary changes to structure and pricing Additionally, consumers are required to accept the terms established by the manufacturer.
Project planning consists of two parts:
The new product from Samsung stands out in the market with its exceptional features and competitive pricing, offering great value to users Immediate advertising and sales efforts will take place at various retail locations, including TGDD, FPT Shop, and local businesses Promotions include 0% installment plans, complimentary accessories with purchases, and exclusive vouchers, enhancing the overall customer experience.
2 Description of the target market, market segment:
The phone market in Vietnam is thriving due to rising consumer demand, making mobile phones essential for all demographics The Samsung S20 Ultra series effectively meets the increasing technological needs of users, particularly appealing to those who have previously owned models like the Samsung S20 and S20+ This trend highlights a strong desire for upgrades and enhanced features among tech-savvy consumers.
3 Study carefully the object of competition:
The primary competitor to Samsung is the iPhone, with each brand catering to distinct customer needs Both Samsung and Apple offer products that come with unique advantages and disadvantages, contributing to a highly competitive market With the recent launch of the Samsung S20 Ultra and the iPhone 11, pricing strategies play a crucial role in attracting consumers.
4 Stand from the customer's point of view Put yourself in the position of the customer to understand what the customer needs and what the customer wants from the product, such as a strong emphasis on technology to attract customers But from reality it can be seen that customers are very loyal to the products they choose
5 Set up a budget for the project
Offer the forms of advertising such as poster stickers, flyers, Offer appropriate promotions in the implementation of advertising projects Especially to increase customer awareness of SamSung's brand and products
Cost in the 4 month in Facebook Fanpage
Create Fanpage : Develop a strategy for building content and images for the project
"- Build detailed content for Fanpage - Manage Fanpage:
+ Post daily content: 2 post / day
-Run ads to increase the number of fans on Fanpage
-Hungry people see advertisements: Male from 30-40 years old (accounting for 60%) and 45 - 60 years old (accounting for 40%)
Facebook Ads - Page Post Engagement
- Run ads to increase the number of interactions / stimulate users to interact with the content posted on the Fanpage
Advertisements targeting hungry individuals primarily reach males aged 30-40, who represent 60% of the audience, while those aged 45-60 make up 40% On average, each post garners 200 interactions, calculated from the total number of posts made Weekly, an average of three posts are published.
Cost in the 4 month in TVC Frame
1.Office building : LCD screens in elevators in office buildings
2.Airport : Advertising LCDs at the passenger drop off area
1 Program terminal Start a new day
Service leading users to Website / Microsite
- Run ads displayed on the advertising allowed area (news feed, right column) of Facebook
Female from 30-40 years old (accounting for 60%) and 25-30 years old (accounting for 40%)
- Advertising display banner on websites belonging to Google's advertising site system
Female from 30-40 years old (accounting for 60%) and 25-30 years old (accounting for 40%)
-Ad shows when a user searches for keywords related to the product / brand
Female from 30-40 years old (accounting for 60%) and 25-30 years old (accounting for 40%)
Post status on famous profiles
Post status on famous profiles
Thuy Han h https://www.facebook.com/buithu yhanh42 4 15/6 15/
Truo ng Ngoc Anh https://www.facebook.com/truong
Lan https://www.facebook.com/nguye nxuanlan 4 15/6 15/
Hari Won https://www.facebook.com/baza.h ariwon 2 2/9 16/
Ngân Khán h https://www.facebook.com/ngank hanhfanpage 2 2/9 16/
An Nguy https://www.facebook.com/an.ng uy.31 1 2/9 9/9
Ngọc Hân Đặng https://www.facebook.com/ngoch an.dang.7 1 2/9 S
Anh https://www.facebook.com/ha.a.v u
6 Study your pricing strategy carefully
Agile project management method
This method focuses on the end state or end goal of the project With this approach, Agile manages more on thinking and initiative
There are 3 main elements in Agile project management approach:
• Cooperate with the client in determining project requirements
• There are processes and tools for interacting among members
• Be ready to change your plans when you do
The Application Agile project management method prints the last step of the project lifecycle
Vina Co., Ltd has implemented an agile management strategy for the Samsung S20 Ultra advertising project, emphasizing interactive surveys between sales and customer departments to align business goals with customer needs The approach prioritizes the insights and feedback from the Marketing teams, facilitating informed decision-making Continuous communication among team members ensures that everyone stays updated, allowing for quick adjustments and alternative solutions as necessary.
Agile understands that there is no 100% certainty in business, is the only constant, and requires team members to be open to change
For those who prefer to work in structure and control, the Agile method can be confusing and frustrating
Agile methodologies are inherently dynamic, which can lead to a sense of losing control if information isn't regularly updated To mitigate this challenge, continuous information exchange and collaboration among team members are essential However, frequent updates can sometimes frustrate customers and remote teams.
Project management tools
A Work Breakdown Structure (WBS) is a project management tool that divides work into smaller, manageable tasks for easier deployment and control Each task must align with the overarching goals of the parent project, and these smaller tasks may be independent or interdependent A parent project is deemed complete only when all associated child tasks have been successfully executed.
Apply WBS tools in phase 2 of the project lifecycle
- Create a work structure simpler but more effective:
Grouping similar tasks enhances control and efficiency, while proper resource allocation fosters specialization, leading to increased productivity and significantly improved operational efficiency.
- Analyzing costs for better control:
Managers can efficiently estimate costs for each sub-task, ensuring that the total expenses within each work package remain within budget This approach enhances resource management by allowing for better tracking of actual cost consumption, ultimately leading to more efficient budget utilization in projects.
- Project progress is continuously adjusted and improved:
Managers can enhance task management by establishing deadlines and delegating specific details for each assignment This approach allows for effective monitoring of work progress, enabling prompt intervention through warnings and reminders Additionally, it facilitates the identification of the causes of delays and holds responsible parties accountable.
Meanwhile, project progress control will become more timely, effective and detailed
Effective project management relies on the ability to quickly evaluate the impact of issues, whether positive or negative, on key tasks The Work Breakdown Structure (WBS) serves as a crucial tool in this process, enabling managers to identify the root cause of problems, establish a clear starting point, and assign accountability to specific teams for resolution.
Emphasizing transparency in work division and scope limitation minimizes confusion regarding responsibilities and ensures fairness in performance evaluations By breaking down tasks to their core components, managers can objectively assess the resources allocated to each job This approach fosters a more equitable and transparent framework for project operations.
To effectively implement a Work Breakdown Structure (WBS) in a project, a manager must prioritize project goals, manage the budget, and utilize relevant tools Addressing issues promptly and accurately is essential, as it leads to efficient deployment of resources such as time, expenses, variety, and obligations A thorough evaluation of the work not only accelerates deployment but also enhances project success while reducing costs.
Managing multiple projects simultaneously complicates the establishment of a clear work hierarchy, leading to challenges such as increased costs, lack of focus, and potential failures The absence of a scientific approach can exacerbate these issues However, adopting digital solutions amid the current trend of computerization enables organizations to visualize their work structure, enhance project management, and optimize cost savings in real time.
Leadership method
Apply leadership method in phase 2 of the project lifecycle
The business leadership approach encompasses the strategic and impactful ways leaders can influence their team's needs and motivations, effectively aligning them with organizational resources to achieve set goals By implementing these leadership methods, organizations can enhance collaboration and drive success in their administrative objectives.
Samsung Vina Co., Ltd to increase the effectiveness of project management holders with other members in the organization can easily lead and manage more effectively
1 Leadership first depends on the ability of the person to be affected by the method If the methods given by leadership cause people to implement the effects of those methods are not in agreement or interest, it will be difficult to have a positive impact on governance
2 The leadership methods must direct the affected people into the good implementation of the overall goals of the organization as well as each individual, thereby bringing about high efficiency and meeting the wishes of the people in the team function
3 The leadership methods must be based on the existing reality of the organization, so it becomes a reality in the governance process, not the only subjective, utopian works that only have value momentarily
4 The leadership methods must be consistent with the historical objective development trend, that is the process of a competitive market economy and globalization integration, which is the international practice that every country family are committed
Leadership methods are diverse and multifaceted, warranting careful consideration in governance, as they represent the most dynamic aspect of the governance system.
Leadership methods often change in each specific situation, depending on the characteristics of the object as well as the capabilities and experiences of the leader.
Review and critique the application
Evaluate and criticize the PLC's effectiveness in the application to the project
This project's waiting round has helped THHH SamSung Vina Company achieve certain success when implementing advertising projects:
• It helps professional service teams become more proficient and profitable
• It makes the flow of communication easier
• It emphasizes reporting and checking on previous projects
• It helps promote rapid product business growth
However, there are still shortcomings in implementing the project life cycle:
• Costs and personnel were low at first and peaked when work was underway It again starts to decline rapidly when the project begins to pause
At the beginning of a project, risk and uncertainty are at their highest levels; however, as decisions are made and products are delivered, these factors gradually diminish throughout the project's lifespan.
Performance measurement tool reviews and critiques
The use of KPIs in work performance evaluation aims to:
• Firstly, to ensure that employees properly fulfill the responsibilities in the job descriptions for each specific position
• Evaluation indicators are highly quantitative, can be specifically measured, thus improving the effectiveness of the performance assessment
• The use of KPIs contributes to making the job performance assessment more transparent, clear, specific, fair and efficient
• It can be a very quick way of showing the present performance of a strategic goal or goal
• Decisions can be made faster when perceptible and accurate metrics accompany them
• It can help management recognize the achievements of their organization, department / department or an employee so that there is a direction to encourage and motivate employees
• A team can work together for measurable purposes
Disadvantages of using KPI system
• If the KPIs built do not meet the SMART criteria, it will not only adversely affect the system
• If the target does not meet Specific criteria, the employee does not know what to do and how to achieve the desired work efficiency
• The indexes do not meet the measuarable (measurable) criteria: Thus, when giving the criteria, there is no meaning in measuring the results
The KPIs fail to meet the Achievable and Realistic criteria, as the goals set are excessively ambitious and unattainable for staff Despite their best efforts, employees find themselves unable to reach these targets, resulting in psychological frustration, depression, and a lack of motivation to work.
Key Performance Indicators (KPIs) often lack defined limits, leaving employees uncertain about the duration and deadlines for their tasks This ambiguity can create significant challenges in their work processes, hindering productivity and clarity.
• When using KPIs as a goal, it must be changed according to the goals of the organization, it is not highly effective if used for a long time.
Analyzing how to use appropriate theories, concepts, and models in PLCs will distinguish between large-scale and small-scale projects
In the small-scale projects
For small projects, utilizing straightforward models like SWOT analysis and the 4P framework can significantly enhance understanding and execution By focusing on market theories, segmentation, competitor analysis, product perspectives, budgeting, pricing strategies, and effective promotional tactics, project managers can create clear and detailed implementation plans These models facilitate easier management and help mitigate risks, making them ideal for smaller-scale initiatives where potential challenges are manageable and do not pose significant obstacles.
In the large-scale projects
In large projects, it is essential to utilize various models for effective analysis to mitigate potential issues during implementation, such as Waterfall, Agile, Hybrid, and Chain project management Additionally, incorporating Quality Management approaches like Six Sigma and Scrum is crucial Other noteworthy methodologies include the Event Sequence Method (ECM), Crystal Method, Flexible Software Development (FDD), Dynamic Systems Development Method (DSDM), Adaptive Software Development, Rational Unified Process (RUP), Lean Development (LD), and Prince2, among others.
Organizations should adopt a diverse range of project management methods tailored to the unique characteristics and objectives of each project By establishing clear standards and being adaptable to changing factors, companies can better align projects with their overarching goals Clarifying success and failure criteria will facilitate the selection of the most suitable project management approaches, ultimately leading to more effective and efficient business outcomes.
Critically evaluate the effectiveness of PLC if your project would be implemented in Vietnamese business context on a large scale
Costs and personnel were low at first and peaked when work was underway It again starts to decline rapidly when the project begins to pause
Typical cost and personnel curves do not apply to all projects Significant expenditures are required to secure essential resources early in its life cycle
At the beginning of a project, risk and uncertainty are at their highest levels; however, as the project progresses and decisions are made, these factors gradually diminish, leading to the acceptance of delivered products.
The potential to influence a project's final outcome without incurring additional costs is greatest in the early stages and diminishes as the project progresses toward completion As illustrated in Figure 2, the expenses associated with implementing changes and resolving issues rise significantly as the project nears its end.
The widespread adoption of PLCs in Vietnamese enterprises significantly boosts productivity and enhances customer satisfaction, leading to a competitive edge This implementation also improves cost management and communication, while increasing predictive performance rates Ultimately, these advancements facilitate better decision-making and align with the overall goals of the company.
To overcome the disadvantages need:
• Define the project pathway by identifying and taking into account key project goals and priorities
• After defining the project direction, requirements, and objectives, define all of the criteria that an approach will impact and vice versa
• Identify all available / possible methods most relevant to the project
• Spend time comparing and comparing each project management methodology related to the project
• Consider which method will give the best results and carry the least risk
• Get feedback and buy in
• Note the method and the reason
• Track and modify as required.
Conclusion
The project is a cohesive entity with a set implementation timeline, often leading organizations to divide it into multiple phases for better management Each phase is characterized by the completion of specific tasks, and the overall process is referred to as the project cycle or life cycle This cycle outlines the project's start and end dates, execution timeline, and the tasks assigned to each phase, as well as the individuals involved in the process.
The project life cycle was effectively applied in advertising Samsung Vina's S20 Ultra products through four distinct stages, utilizing various theories and models to analyze and enhance project execution This comprehensive approach has led to notable successes; however, the article highlights ongoing challenges that need to be addressed, suggesting the potential for improvement through the application of alternative methods and theories.