Boeing 787 Project

 Introduction

Boeing 787 is a project they flew their flight on October 26 2011, they flew their first commercial flight.  This flight has run between Tokyo to Hongkong. This flight was special, flight and they had decided to market their flight with the tagline “the Dreamliner”. The flight was a special, flight and they have offered passengers 20% fuel efficiency and more open space in the cabin. This flight has run for over 7 years, and the company had spent more money than they have estimated. The flight has much more facilities in comparison o all flights. So this flight has set a new bar for aircraft design and development. As this 787 flight was made by Boeing and they have spent more than 7 years in their flight making. Boeing has put a huge amount of effort into their flight making and they faced different stages of failure then the project got back on track and delved their promise to the people (Boeing, 2022, ).  The project was started in 2003 and the name Dreamliner was chosen by online vote before that it was named as 7E7. In 2004 this aircraft got its first order and they have got orders for over 50, the estimated delivery date for this airline was 2008. After facing different technical and management issues this flight was able to solve its problems and they were able to run its flight on October 26, 2011. 

At the time when this aircraft was conceptualized it was1990 but t the time when the aircraft was started in use in was 2000, that is why they have faced several difficulties fuel price was the most concern as the price of fuel started rise and they have got more competitors in compare to early days. In 2008 overall the world has faced a dramatic rise in oil, also that time air traffic has also grown around the world. By this date number of US citizen have increased over 200k population. The third factor is the company positions taken by Airbus. Airbus was known as EADS which was set up in Europe to compete for with Boeing. That Boeing was in the monopoly after its competitors have increased that gap was started to fill. Airbus became one of the threats for Boeing, as their existing product line was not doing well. 

This project was started by a company named Boeing, later when the aircraft was started their business it was given to another company; the aim of this company is to provide a luxury experience to their customers.  It has more fuel efficient and it was spacious compared to other aero planes in those days. This aircraft was taglines Dreamliner and it has three models 787-8,787-9, and 787-10.  All these three models have the same height, same engine and wingspan of it are also same. However, the length and range and passenger capacity are much more huge 787-10 in comparison to the two others.  This aircraft s special because it has low operation cost, highrevenue potential and a visionary design of it is also high class.  After it was made the flight was run from Tokyo to Hongkong but later as it gets famous almost every airline from different country have bought that aircraft including Singapore Airlines, and Air India.  The Boeing 787 is an American jet airliner, it announced that it is still assembled in the factory in Washington. In order to make this aircraft there were many subcontractors involved, for example, Mitsubishi heavy industry, horizontal stabilizers Korea aerospace industry, Kawasaki industry and many more. Japanese industries were key for the project, they contributed 35% to the aircraft, overall this aircraft was made by several contributions and it was a special aircraft.

Risk Management – approach to project risk management, major risks to project success, how specific risks were dealt with, etc.

Risk management is an important factor in the project development process because the time of conducting any project different risk factors arise that can decrease project growth. Managing the risk of a project properly identifies that and making effective planning is a very essential process. The project risk management process is simply described as the process of identifying, analyzing, and properly responding based on the different risks that are raised to succeed in any project. In this case, the Boeing 787 Development project also raises various risks that decrease workflow in the time of making their product (Gardens and Qazi, 2020). For that reason, succeeding in proper analysis and creating effective management processes are very important for this company. 

Different types of risk are raised from a project that can decrease project growth. In this case, also various risks are related to effective budget making and material supply to manufacture the product. In this project main financial risk arises that decreases the project development process. The financial cost is an important risk in this Boeing 787 Development project (Pandian et al., 2020). This risk mainly arises due to the Rising cost of materials. In the time of manufacturing aircraft different materials are essential to manufacturing different important parts of it. In this case, the higher amount of rising cost of these materials creates a large impact on project success.

Improper budget planning is another important risk that decreases project improvement. In this project, perfect planning for the budget is not set before restarting, for that reason due to lower investment in the project suffering in low amounts to proceeding business. Moreover, additional labor and resources are used in a large number of the overall project of manufacturing this aircraft for that reason a huge amount of financial support was essential. However, inefficient work planning decreases the attraction of investors to this project. That decreases the chances of project success.

Project success depends on another important factor which is a methodological strategy that is used to complete a project. This project was started for a short duration and the time of the succeeding project was also much smaller than the reason making plan for Boeing 787 Development was so ineffective which is another important cause of the failure of that project (Oehmenet al., 2020). In addition, technological advancement is also important in managing that high-profile project. In this case different high technology is used however the handling method of it was not proper and regular assessment of projects is slow and not done. That is another risk that arises in time of project success.

Project deliverables and expectations of a project give driving fuel to a project based on the whole project are developed. However in this case chances of project success were very low. In the first trial, this aircraft was not successfully flying and reasonable expectation from that project was decreased, which created a large risk for this project (Schmuck, 2021). In the trial that is suffering in the fire, however, no one is injured in this. This lower expectation among projects increases engagement in this project.

This aircraft manufacturing project was a completely supply chain-dependent project for that reason effective supply chain management was essential for project success. However, in the time proceeding project exposure from this aircraft suffered risk conditions due to the lowering of supply chain conditions. Reputational damage and financial, damaged is occur in this project which decreases the projected growth of this company. In addition, market volatility is another issue that decreases the projected growth of this company.

Mainly Thai financial, supply chain, marketing-related and other risks arise from this project that decreases project workflow and decreases the growth of this project.

Stakeholder management 800

Introduction 

The Stakeholder management plan is the process by which any organization organizes, improves and as well as monitors organization’s relationships with organizational stakeholders. Here selected project is Boeing 787 development, therefore stakeholders who are related to this project are playing an important role. This project is very special as this project used to design combined with efficiency-increasing raked wing tips that allow 787 to be the foremost commercial aircraft. 

Identification of Stakeholders

Stakeholders Impact Importance Contribution Engagement 

Investors High Investors of Boeing 787 development played an important role as top investors of Boeing 787 were Vanguard Group Inc, Blackrock Inc, Theodore Colbert and others (Dabylova and Zhidebekkyzy, 2021). This Boeing 787 is an American jet airliner manufactured and developed by “Boeing Commercial Airplanes”. The investor’s role is much more significant in this matter. The total invested money of this project was about $32 billion US dollars. Any organization wants effective and similarly, efficient investors for the development of this organization. As this is a big, project, therefore contribution of investors is much more significant (Paramithaet al. 2019). Through this project, Boeing secured about $5.5 billion US, dollars from 787 Dreamliner project. All key investors of the United States, also this project took help from japans’ investors, especially from Tokyo. 

Suppliers and partners high Suppliers of this project were much necessary as this project had several kinds of key suppliers as this project took its electrical and engines from US. As well as Britain, France, Japan, Italy, and South Korea also extended its support to this project.

In other words, this organization’s key partners are Amazon web services and Microsoft Azure (North et al. 2022). All partners and suppliers extended their support to this project with a large amount. Contribution of suppliers of this project is much high, foremost important suppliers are PSI solutions, Dynamic technologies, Cicon Engineering, WarHawk Solutions and others (Downar, 2018). In addition, more than 30% of the raw materials of this project have come from overseas. All the key suppliers are from South Korea, Japan, US and others. On the other hand, key suppliers are from South Carolina and North Charleston. 

Government agencies' high Boeing 787 takes full support from all agencies, as Boeing generally produces military and commercial aircraft, strategic defence, weapons systems and other services. For that reason governments of South Korea, Japan, US extended their full support to 787 development as well as Boeing in this competitive market. Contributions to government agencies significantly play an important role. Boeing always with U.S Army’s MH-47G and as well as Mission increased little Bird with asset management, spares and similar repairs.  In 2021, Boeing’s financial output reached about $2.731 billion US dollars. For that reason, Boeing creates about 9,402 direct as well as indirect jobs and provides $663.2 million US dollars to US’s GDP.   

Employees' high There are many types of important players who are generally related to 787 aero planes such as Kawasaki and Fuji from Japan. In addition, Alexia of Italy and others. There, are contributions in this project 787 are much more significant and important. In this matter, ANA is the global largest 787 operator with about 71 planes in its fleet as well as 12 extra prior to the huge agreement. All key employees from South Korea, Japan, US, UK and other countries.

Engagement Strategy

Stakeholders Area of Influence Engagement tools Outcome 

Investors Investors of this company or this project is generally influenced by invested money in a certain project. This 787 development became so successful because of its effective investors from several countries. This 787 development project had more than $32 billion US dollars invested in money. As this project carries about 210 to 250 passengers at about 8000 nautical miles. E-Mail, social media, and others With the key help of these investors this project became so successful, as from the time beings it circulated this project costs reached about $15 billion US dollars. Japan’s ANA to increase about $3.2 billion in shares to 787 development. 

Supplies and partners Suppliers and partners are also playing an important role in this project. Suppliers and partners generally influence on company’s supply-demand chain and reputation of raw materials as well as products.  Verbal calls, formal letters, and E-Mail Outcomes of this project from suppliers and partners are very relevant. The suppliers and partners of this project are very much responsible for the key success of this organization. 

Government agencies Government agencies of this project is playing an important roles in the success of this project. Government agencies provide relevant invested money to this project. Government can to and implement high taxes on the company’s projects. Or low taxes of government policy increase demand in the market. 

Official letters and E-Mails Government agencies provide relevant outcomes to all project results. 

Employees' Employee's roles are also relevant in this matter and provides help to the success of this project. Official letters and E-Mails Outcome of this project is very relevant. 

Success Review

This Boeing 787 Development project is suffering from various issues in a time of success however this project is ultimately a success. This project had different successes and failures factor.

Success Review – in what way was the project a success or failure – justify from multiple perspectives. The company Boeing is commercial aero planes companies who are making the design, as well as according to this design they assemble them. The marketing sections are based on their final product of them (Fugal, 2018).  This selected development programme are focusing on major global market success. This development project is sold around the world and gained major success in the aircraft program. This company made the first wide-body jet airline and develop them according to the demand. Boeing 787 development programme was conducted with several issues to gain their success. The main issue is meeting the business requirement. This air transport company are focused on the consumer's financial attachment with this company (Granja, et al. 2018). From the global market from the consumers as well as the stakeholders are partially invested in this development programme. Their capital engagements are increasing for the increasing business chain all over the world.  The suppliers and partners are showing high impactful engagement in the increasing business pattern. The key suppliers are mainly from South Korea, Japan, and others. From those countries, suppliers are also interested in his engagements. 

Apart from these attributes, the delivery and schedule maintenance is major attributes for the success of the business. This maintenance schedule is also concentrated on the final product and its usefulness for the society. The social outcome maintained is the final goal of the company. The project-making process is also related to the consumers who make a demand for the fastest transportation.  The delivered and maintained within budget attributes are concentrated on the budget goal of the particular company (Mishra, 2020). This financial goal is based on the capital making and the as target priorities goal according to their critical, need as well as the want of the company. This selected company contribute to their capital on the supply chain system, as well as the raw materials costings are major for their company. All of their raw material is collected from the several countries. Transportation costs are huge for the final product and their costings. For the essentials of the aircraft company, they need major financial backups to run their business. Apart from this, the technical costs are so heavy for the Appling advanced technology for this company’s productions. All of the costs go beyond the expected costs and that is why in this area this project is considered to be failed.  

The business value and the investments share a major contribution for establish the business goal. The stakeholder's capital is so important to gain the success of this development. Calculating annual income and profit are can be measured for this investment ratio. The company re highly concentrated on the opportunity cost which is collected from these sectors. The airline development programme is highly focused on fuel costs, crew members or hosting costs. Mitigating those cost issues these 787 development plans are gaining global success. The advertising strategies have a major section for the success of this development strategies.

 In this development programme are also conducted several failures (Ul-Ain, et al. 2019). This company as well as the development programme faces several issues to run their business.  Those issues are also affecting the workflow within the workplace. The project budget and financial risks are also affecting the management program. In the financial cost, sections are majorly working with the rising product cost. In the global price, rising seasons are also affected by this development programme implementation. The development methodological strategy creates damage to this development programme. For running an airline business high costs of fuel are major problems for every airline company. As per this cost, most of the stakeholders are not getting proper initiatives to take for this company. These issues are considered a prime object for this company. The partners of the raw material suppliers sometimes get demotivated the supplying their materials to the company. All of the employees of the company are also worry about the high turnover of this financial lacking. These are the major success point and failure point of the company to achieve the final goal. Instead of so many failure points, these development plans are facing huge success all over the world.  

Recommendation for project managers

● In order to successfully understand a project all stakeholders who are involved in the project they need to understand their own responsibilities. In addition, it is needed that all stakeholders and project managers to have enough communication between them.  That includes managers, sponsors, investors, suppliers, clients and those who take key measures for the making of the aircraft. Making sure that client demand and the ultimate goal of the project are being delivered at the end.  Before starting the project deliverables of the project needs to be clear to everyone. 

● As aircraft is a big project in order to successfully complete the project making a quick response time so that any kind of issue is solved is important. In the making, if this aircraft company has faced many difficulties they have faced with lasers as the company got changed in between their making, they have also faced problems with investors for that they have lost many investors.

● As the making of aircraft is technical work so maintaining the technical field and communicating with leader’s biot are both important. In between making the aircraft project managers were needed to rate care of their investors and secure them, which will help them to deliver the project on time. Project managers need to take care of technical and leadership development. If anyone component is lacking the project cannot be implemented successfully or it will get delayed.

● Monitoring and tracking progress regularly is also a responsibility of the project managers.  Tracking regularly and monitrimg help to understand the development and progress of the project. As every project has its deadline, in order to deliver the project to the customers tracking and maintaining the timeline is important to maintain the trust between customers and the organization. Effective leader understand the importance of tracking and constant monitoring of the project. Tracking of project helps to take captions before it get too worse. 

● Boeing airline company need to collect the customer's feedback from their past travel experience. According to the feedback, the company should rectify them for the betterment of their plan. With the help of this feedback company and its plan also understand the customer's preference. To monitor those issues the airline company should connect with the customers as well. 

● With the help of this plan, positive resolutions are taken.  The self-help feature should be used in this section.  This feature is also useful for the employee of this company also the consumers. 

● The price of air transportations should be considered a prime object for the com, company. By using this development plan the process of the tickets are should measure a prime objective (Singh, et al. 2020).   

● The supplier and stakeholder’s relationship consider a prime objective for this development plan. For developing this relationship the capital flows are highly beneficial. The business experience and mitigating the potential problems are also conducted with these relationships.

● In this current time, the advertisement cost is major for every company. By reducing the other sectors costs and investing into the advertising cost. This advertised cost is also beneficial for the growth of the development plans as well as the airline company (KO, et al. 2022).

● The festive sales are a major strategy for for to gain the market position. In the global festive season, maintaining the low ticket pricing season are been a major marketing strategy for the developing plan