Imagine a market research project (say a manufacturing company intends to know customer response about a...

80.2K

Verified Solution

Question

General Management

Imagine a market research project (say a manufacturingcompany intends to know customer response about a new product to belaunched). Create the WBSs up to first level of breakdown. Work outsequence of activities and estimate time duration of each activity.Based upon your estimation, prepare schedule of the project by CPMMethod as well as PERT method.

Answer & Explanation Solved by verified expert

3.9 Ratings (456 Votes)

New product development is one of the most importantvaluecreating processes in every industry New products createinterest excitement and new business opportunities by providingcustomers with better more convenient or lower priced ways tofulfil their needs Many believe that distributors and suppliersworking together as allies can both reduce the costs of productdevelopment and introduction and more importantly develop moreand better products than those that are being produced today Ifthe world was stable there would be no need to change businessoperation and methods or to understand what has changed and whatworks well However firms operate in dynamic environments notstable ones In response management processes must also changeover time so that firms can remain effective and profitable throughthis changing situation Some of the changes in business with thepotential to impact the waysin which new productdevelopment is practiced and managed include1 Increased levels of competition2 Rapidly changing marketenvironments3 Higher rates of technical obsolescence4 Shorter product life cyclesA primary impact of these environmental changes isto implement changes which help speed products through developmentand improve process efficiency and overall new product developmenteffectiveness The Model of the Product Development and ManagementAssociation PDMA wants to create anddisseminate knowledge aboutmanaging and improvingnew product development Best research practices wishto determine the current status of product development practicesand performance understand how product development has changed from five yearsago determine whether differences exist in new product developmentpractice or performance across industry segments investigate process and product development tools whichdifferentiate the success on product developmentProject Management on New ProductWork Breakdown Structure WBSNew product processes essentially turns an opportunity a realstart into a profit flow a real finish It begins with somethingthat is not a See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member