Level 1, 841 George Street, Sydney, NSW 2000

Level 1 841 George Street Sydney Nsw 2000 P 61 2 9211 8838

The assessment task involves conducting market research by engaging with a consultant, revising a standard contract to suit specific needs, and monitoring the progress of the research activities through weekly reports. You are required to meet with a consultant to finalize a contract, then develop and submit weekly monitoring reports that describe the project's progress, adherence to the plan, and the performance of external contractors.

Specifically, you will revise a provided generic external consultant contract to align with the requirements of the market research project for Houzit’s lighting fittings expansion. Following this, you are to monitor the project's activities according to the provided case study data, producing weekly reports that evaluate the progress, plan adherence, and contractor performance. Your reports should reflect a comprehensive understanding of the research activities, including milestones achieved, delays encountered, and any issues related to contractual obligations or project timelines.

Paper For Above instruction

Introduction

Effective management of market research projects requires meticulous planning, clear contractual agreements, and ongoing monitoring to ensure alignment with organizational objectives. Engaging external consultants adds a layer of complexity that necessitates tailored contracts, performance tracking, and proactive issue resolution. This paper discusses the process of revising a generic consultancy contract to meet specific project requirements and outlines a structured approach for weekly project monitoring, exemplified by a case study involving Houzit’s expansion into lighting fittings.

Revising the Contract with the Consultant

The initial step involves reviewing the standard contract supplied by the organization, which serves as a template for engaging external consultants. In the case of Houzit's market research project, the contract must be customized to specify project scope, key milestones, deliverables, timelines, and performance expectations. Critical contractual aspects include defining scope of work, deliverable timelines, confidentiality clauses, budget constraints, and penalties or remedies for delays or substandard performance.

The sample contract provided in the case study highlights essential provisions, such as the agreement’s commencement date, governing law, signatures, and witness details. To tailor this contract, it is vital to clearly articulate the scope of work related to market research activities, including questionnaire development, data collection, analysis, and reporting. Incorporating milestones such as the completion of the research design, data gathering phases, and final report submission ensures transparency and aligns expectations.

Furthermore, clauses concerning amendments, dispute resolution, and confidentiality must be explicitly addressed. Given that the case study involves specific research activities with predefined deadlines and milestones, the contract should include provisions for managing delays, such as the refusal of time extensions — as was exercised when the consultant requested additional time but was denied.

Weekly Monitoring Reports for Project Management

Managing the research project requires systematic tracking and reporting. Weekly reports serve to monitor progress, assess adherence to the plan, and evaluate the performance of external contractors. These reports should include three core components:

1. Progress of the Project

This section details the status of each research activity. For instance, in the case study, the phases of research planning, questionnaire development, and secondary research were completed on schedule, whereas activities such as identifying research techniques and timing requirements experienced delays. It is crucial to document completed activities and ongoing tasks, noting any late or unfinished activities.

2. Adherence to the Research Plan

This involves evaluating whether scheduled milestones have been met. The case study indicates that several tasks, such as documenting research needs and identifying sources, were delayed by one week, and timing requirements were delayed by two weeks. The report should analyze causes of delays, such as unavailability of data or resource constraints, and assess the impact on overall project timelines.

3. Contractor Performance

This section assesses whether the consultant’s performance aligns with contractual expectations. Challenges faced, such as the consultant requesting more time or difficulties in working with store managers, should be critically examined. Managing contractor performance includes providing feedback, addressing issues proactively, and returning the project on track when deviations occur.

Application of Monitoring and Management Tools

Effective project management employs tools such as Gantt charts, progress dashboards, and performance metrics to visualize timelines and identify bottlenecks. For example, tracking the completion percentage of activities—such as the 100% completion of research report or delays in developing the research questionnaire—helps inform decision-making.

In addition, regular communication with the consultant is vital for early identification of issues, aligning expectations, and ensuring the quality of deliverables. For Houzit’s project, cultural and logistical challenges, such as working with store managers or accessing internal data, must be managed through clear contractual stipulations and ongoing dialogue.

Conclusion

Effective market research management hinges on meticulous contract revision and diligent project monitoring. Tailoring a generic contract with precise scope, milestones, and performance clauses enhances clarity and accountability. Regular weekly reports facilitate timely identification of delays and performance issues, enabling proactive corrective measures. The case study of Houzit demonstrates the importance of these practices in ensuring that external consultancy engagement delivers valuable insights efficiently, ultimately supporting strategic decision-making.

References

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