Essay Example on Project Management Methodologies

Quality Tool Analysis

Coca-Cola is one of the top beverage brand distributors across the world. The companys mission is to remain relevant in the beverage industry by refreshing and bringing happiness to its customers lives. The company has been in existence for more than 100 years and has employees globally from general managers to marketers, engineers, social media managers, distributors, and vendors (Coca Cola, 2017). Its vision is to ensure that it fulfills the needs of all its stakeholders while being mindful of its responsibilities.

Coca-Cola is still the largest beverage distributor in the world but the main problem being experienced by the company today is the high levels of competition that the company is facing from Pepsi. The rivalry between the two organizations is immense, and Pepsi has not given Coca-Cola an opportunity to dominate in the market. The tool used in the identification of this problem is a cause and effect diagram shown below using the fishbone diagram created to identify activities that Pepsi co is carrying out that give it an upper hand over Coca-cola.

Figure 1

Coca-cola and Pepsi are both global businesses in the beverage industry. They both also offer ancillary products. Their business models appear to be similar, but some very fundamental differences exist between these two companies (Coca Cola, 2017). Pepsi has a business model that is diversified both in the beverage industry as well as in other industries. Incidentally, it sells snacks such as Kurkure, Cheetos, lays, and ruffles, among other consumer products.

Conversely, Coca-cola is diversified within the beverage industry, and only a few of its products are outside this industry. Therefore, Pepsi has been able to continue making profits even when the beverage industry performs poorly. Moreover, this diversification outside the industry has enabled Pepsi to create some loyal customers who purchase all their products.

Pepsi co. has pushed its products into new markets which has enabled it to increase its sales levels. Pepsi co. has also closely monitored the activities of Coca-cola. Incidentally, in 2014, when Coca-cola purchased a stake in Monster Energy, Pepsi then began producing its energy drink Mountain Dew (PepsiCo, 2017). Both companies have also made firm commitments to ensuring that their businesses have efficient business operations. Pepsi, therefore, has an extensive product mix, focusses on peoples health, and it has a limited exposure to the rapidly declining market of sugary beverages.

Qualitative and Quantitative Analysis Tools

Qualitative analysis tools involved in this research include; comments from surveys, books, video recordings, and articles. Conversely, quantitative research depends on gathering and analyzing data. The tools used in this research involved analysis of secondary data using Ms. Excel and SPSS to calculate the revenues that both companies have earned over the past five years. This analysis showed that Pepsi co. is slowly closing in on the gap between the two companies which calls for Coca-cola to improve its strategies to remain competitive in the long run and to avoid losing market share (Karaman & Kurt, 2015).

Revenue US dollars in billions

Year 2012 2013 2014 2015 2016

Coca Cola 48.02 46.85 46 44.29 41.86

Pepsi 65.49 66.42 66.68 63.06 62.8

Table 1

Stakeholders Analysis

Many stakeholders influence the growth of every company. It is wise for the management to identify such vital individuals to receive their support. The primary stakeholders in a firm are perceived to be powerful and are supportive in providing resources. It is wise to shape the opinion of the stakeholders to believe in the project that you are planning to start. For instance, in the case of Coca-Cola, the key stakeholders are the shareholders, who must acknowledge the plan. Customers are another stakeholder group that needs keen consideration because without the customers the organization cannot exist. Suppliers are also very essential in ensuring that there is constant production. Finally, trade groups are also relevant. All stakeholders are vital, and it is paramount that the management strikes a balance in meeting their needs.

Phase II

Planning and implementation

Project planning entails activities geared towards achieving a targeted goal. The primary purpose of project planning is to simplify and define each function, come up with all resources to meet a set objective from the start to the end and to allocate the timeline under which the project must be completed (Karaman & Kurt, 2015).

Project Methodology

The critical chain methodology is used in addressing the issue of high competition faced by Coca-cola from Pepsi co. This method focuses on completion of specific tasks within given schedules. This ensures that resources are utilized most economically with minimal wastage. This method ensures that enough resources are assigned to the critical activities that are on the critical path. Other activities are supplied enough resources so that they can run concurrently with the critical path activities. This method is chosen over the waterfall project management methodology because alterations to the plan may take place based on the reaction of Pepsi co. to the different strategies (Karaman & Kurt, 2015).

The sales and marketing processes of the company will be affected by the action plan that Coca-cola will take in a bid to reduce competition from Pepsi. This is because the company will produce more diversified products that will require different marketing techniques. Coca-cola can also collaborate with other successful businesses in the markets that it will enter to share the synergies with them and therefore have high sales revenue and increased market share. The timeline for the project is six months. The critical path activities that Coca-cola will need to carry out to reduce the competition it faces from Pepsi include;

Production of diversified products (two months)

Collaborating with other companies in the new markets (three weeks)

Changing the existing sales and marketing strategies (three months)

Launching of the new products (one week)

Communication Plan

A communication plan is ideal for project management to inform all the stakeholders about the proposed changes and get them on board. Once the project has been approved, and it has commenced, the stakeholders also need to be informed about the progress of the project through all the steps. The companys executive team must come up with the most suitable communication channels to reach out to the key stakeholders in addition to other players.

Different projects demand unique ways of coming up with a communication channel. For instance, in the case of Coca-Cola, all stakeholders must be informed that the company has intentions to diversify its production as well as change its marketing styles. Communication channels such as emails, phone calls, and private social media groups can be used to ensure a free flow of information. A meeting can also be organized for all stakeholders to receive information concerning the plan and provide their feedback.

Phase III

Evaluation

Project evaluation is a logical and objective assessment that project managers use to evaluate the progress of a running or completed project. The principal objective of coming up with an evaluation process is to determine if the project is up to the standards of the goals set (Karaman & Kurt, 2015). The evaluation process plays a fundamental role in decision making.

Several metrics are essential in project evaluation. Retrospective, diagnostic and predictive metrics determine the success of project implementation (Chin & Spowage, 2012). These parameters rely on objectivity and behavioral influence to achieve a set target. Incidentally, the predictive metrics entail planning which is vital in all stages of project implementation. For instance, Coca-Cola must have a good plan on how it will roll out the new food products in the market. The will comprise of the resources, marketing, and distribution channels to used and the risks that may be encountered.

Other metrics can be used in the assessment of project management. Pure project management measures include the accuracy of the estimations made at the beginning of the project. Therefore, if the actual costs are close to the projected cost, this shows that the project management process was successful. Indicators such as satisfied stakeholders also show that the project was successful. Finally, if the implemented plan brings in a high return on investment, then the process was successful.

References

Chin, C., & Spowage, A. (2012). Project Management Methodologies: A Comparative Analysis. Journal for The Advancement of Performance Information and Value, 4(1).

Coca Cola. (2017). The Coca-Cola Company. Retrieved from http://www.coca-cola.co.ke/en/home/

Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince two versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering Research, 4(4).

PepsiCo. (2017). PepsiCo Annual Reports. Retrieved from http://www.pepsico.com/