Summary of the project idea

Working on a project, to come out a success needs proper management of many factors. To begin with, it is important that the project idea be unique to win the market target. Secondly, the development of the project idea or product should be properly undertaken and managed to ensure the right product at the possible low cost. The branding of the product is important in winning customers’ tastes and preferences. Selling practices of the product is the final blow on the product, which determines the success of all the other factors. Proper incorporation and management to ensure all factors are balanced and take place according to the project plan and scope. The project to produce the triplet products was undertaken by three companies, each taking specific parts in the productions. In the other processes, the companies pooled resources and worked from a common ground. Working under common management of the product was an important step. A complex project as this needs centralized management, to ensure close monitoring and unity in purpose and activity. Releasing a product that stands out amidst stiff competition was an achievement for the partners in this project. The partial partnership formed for the purpose of this project yielded highly. Project management is complex and requires high skills and resources. It is important to work out a project as demanding as producing a new car brand in the form of partnership, which will pool both monetary and human resources. The success of projects relies heavily on the human resources available as well as the capital strength of the company in question. Working out the project through partnership empowered these companies towards success above their competitors. Financial strength determines whether all processes of the project will take place properly. Working together, the three companies reduced the project cost for each other. The cost burden reduction enabled each company to work to its full capacity on their part of the project. That way success was forthcoming.