Report On New Product Launch - Code 1324

Risk analysis and management

The mentioned risks are just some examples of critical elements that must be taken into account, in order to avoid or mitigate their negative outcome to the overall project, which can translate into delayed times, additional costs or not meeting the end goal.
During the project, there are two approval stages where the decision of the board is crucial for continuity, with a length of 2 weeks for each activity. While this is a fair amount of time, it can be a problem if there are too many corrections to be made or if the parties involved do not fully understand or agree with the board in terms of what does it need to be done to move on. Proper communication, clearly stated and agreed objectives and a detailed feedback for any adjustments, are important elements to be considered during these parts of the project.
In addition, all personnel involved must be fully aware of the risks and consequences if prototype designs are leaked to either the public or the competence. If the company already has a policy concerning the share of critical information, it must make sure that everyone understands and agrees to it.
As for materials costs and purchase, it is well structured in the planning. However, given the time difference between the research of suppliers for raw materials and packaging and the order of those items, delivery time may not be as initially expected, thus possibly delaying the manufacturing process that follows. When speaking with prospect suppliers, delivery times must be as clear as possible. Also, having more than one supplier available can be a solution when one simply cannot respond to the timeline.
Even if a prototype has been approved by the board, the end product that comes out of the massive manufacturing process may not meet the expected quality. To further ensure that the clothing being produced for actual sales is what the company is looking for, testing of the garments should be performed following company guidelines, so that minor adjustments can be made and avoid a whole faulty product line.
Lastly, the creative team behind the creation of the new line, must be aware that it will take more than a year to actually sell the product they are just outlining. This is to prevent that the end product does not become outdated or irrelevant at some point during the project.