ML0018 - Project Management in Retail

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Summer 2013

Master of Business Administration- MBA Semester 4

ML0018 - Project Management in Retail

Q1. Describe the phases in the evolution of retail market.

(Detailed explanation on phases in the evolution of retail market – 8 marks, Diagram – 2 marks)

Answer : Phases in the evolution of retail market:

The retail industry is undergoing major transformations driven by new technologies and the changing needs of the consumer. The retail sector has been at the helm of India’s growth story. The sector has evolved dramatically from traditional village fairs, street hawkers to resplendent malls and plush outlets, growing from strength to strength. According to the Indian Council for Research on International Economic Relations (ICRIER), India is the seventh-largest retail market in the world, and is expected to grow at a CAGR of over 13% till FY12.

Q2. What are the tasks handled by a project manager to effectively manage a project?

(Detail explanation on role of a Project Manager – 8 marks, Listing 4 Task Needs – 1 Mark, Listing 4 Team Needs – 1 mark)

Answer : Role of a project manager in managing the project :

The Project Manager is the person responsible for ensuring that the Project Team completes the project. The Project Manager develops the Project Plan with the team and manages the team’s performance of project tasks. It is also the responsibility of the Project Manager to secure acceptance and approval of deliverables from the Project Sponsor and Stakeholders. The Project Manager is responsible for communication, including status reporting, risk management, escalation of issues that cannot be resolved in the team, and, in general, making sure the project is delivered in budget, on schedule, and within scope.

Q3.  What are the relevant EIA activities for each stage in the project cycle?

(Detail explanation on 6 stages – 8 marks, Diagram – 2 marks)

Answer : EIA activities for stages in the project cycle :

1. Project Concept/Identification):

At the initial stage of the project planning, information on the detailed project designs will not be available, but the basic nature of the project will be known (for example, whether it is to be a coal, oil or nuclear power station; a highway or a dam/reservoir) power output, and an area of land which is likely to be inundated and the site or sites where the project is being proposed to be implemented. At this stage, the project may be subject to "screening" to decide whether a full and comprehensive EIA report must be prepared.

Q4. Explain the Concept, Features, Functions, Types, Benefits & Considerations of RIS.

(Detail explanation on concept - 2 marks, Detail explanation on features - 2 marks, Detail explanation on functions - 2 marks, Detail explanation on types - 1 mark, Detail explanation on Benefits - 2 marks, Detail explanation on consideration - 1 mark)

Answer : Concept of RIS :

RIS provides cost-effective, highly configurable and scalable Point of Sale and Inventory Control software solutions, such as Retail Pro, to retailers worldwide. No matter how your business grows, RIS will partner with you to bring your business the right tools: Store Operations, Merchandising, and Business Intelligence, along with experienced in-house customization services. The retail Information systems should be aligned with strategic and business plans of the organization. Therefore, it should be able to provide information, which supports and drives this objective.

Q5. Mention the elements that should be considered while formulating a project.

(Detail explanation of 6 stages involved in project formulation in retail - 8 marks, Diagram – 2 marks)

Answer : Elements to be considered in project formulation in retail :

We can identify six stages in formulating a project.

1. Determine the objectives:

Retail projects can be formulated in different ways to meet different objectives. The manner in which projects are formulated, constructed, and operated is determined by the decision makers. The success of the project depends upon the reasonableness of the objectives and availability of resources to formulate, construct, and operate and maintain the project.

Q6. Discuss the various emerging trends of retail marketing.

(Detail explanation of various types of retail marketing - 10 marks)

Answer : Emerging trends in retail marketing :

1. Retail marketing :

The essence of retail marketing is developing merchandise and services that satisfy specific needs of customers, and supplying them at prices that will yield profits. Thereby the concept is a philosophy, not a system of retailing or retail structure. In today's CRM landscape the old analogy comparing the rifle and shotgun approaches to message and / or offer delivery is perhaps more appropriate than ever, as more retail organizations struggle to achieve one-to-one marketing-communications with customers and prospects.