UNIVERSITY OF

GREENWICH
BUSI-1637 Discover Project
Management
Assessment 2

ID number 001420153
Lecturer/Tutor name Ta Thi Thuy Huong
Student submission date 10/4/2025

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UNIVERSITY OF GREENWICH BUSI-1637 Discover Project Management..........................................1
I. INTRODUCTION.............................................................................................................................3
1. L'Oréal Brand’s Overview............................................................................................................3
2. L'Oréal Vision: Redefining Beauty Leadership..........................................................................3
3. L'Oréal Mission: Beauty as an Inspirational Force....................................................................3
4. L'Oréal Business Strategy: Universalization...............................................................................3
5. 2025 Strategy Framework.............................................................................................................4
II. BODY.................................................................................................................................................4
1. Business Rationale and Project Objectives..................................................................................4
1.1. Business Rationale.................................................................................................................4
1.2. Project Goals and Objectives................................................................................................7
2. Creative components.....................................................................................................................8
3.1. Stakeholder Analysis.............................................................................................................9
3.2. Project Timeline...................................................................................................................10
3.3. Project Life Cycle.................................................................................................................13
REFERENCES..............................................................................................................................................16

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 I. INTRODUCTION
1. L'Oréal Brand’s Overview

According to Vaughan (2025), L'Oréal S.A. is a leading global cosmetics and beauty company
based in Clichy, France. Established in 1909 by chemist Eugène Schueller, L'Oréal has grown to
become the largest cosmetics company in the world, offering a diverse range of products,
including skincare, haircare, makeup, and fragrances. The company operates in over 150
countries, catering to various beauty needs and preferences.

2. L'Oréal Vision: Redefining Beauty Leadership

L'Oréal aims to be a global beauty leader by offering diverse products that positively impact
society and the environment (L'Oréal, 2023). Chairman Jean-Paul Agon emphasizes the
company's goal of shaping beauty's future through science, innovation, and sustainability (HEC
Paris, 2025).

3. L'Oréal Mission: Beauty as an Inspirational Force

The company aims to create beauty that inspires people worldwide (L'Oréal, 2024), delivering
products distinguished by quality, safety, honesty, and responsibility (Johnson, 2022). By
recognizing beauty's "infinite diversity," L'Oréal develops products respecting various cultural
preferences and individual needs, with inspiration through beauty as their core purpose.

4. L'Oréal Business Strategy: Universalization

To achieve its vision and mission, the company has implemented a long-term strategy.
According to L'Oréal Groupe (2023), the core of L'Oréal's strategy is universalization, or
globalization that recognizes, comprehends, and honors variations in needs, customs, and wants.
To do it, L'Oréal heavily invests in innovation and research with a global network of research
facilities and marketing hubs in the United States, Japan, Brazil, China, India, and South Africa
to create and produce cosmetics at a local level so that formulas are perfectly suited to the needs
of consumers, no matter where they live. This strategy enables L'Oréal to satisfy the desires of
customers all around the world and provide customized beauty solutions. The company's
decentralized operating architecture empowers local teams to guarantee relevance to customers
in every area.

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Through this integrated strategic framework, L'Oréal maintains industry leadership while
adapting to evolving consumer expectations and market conditions across diverse global regions.

5. 2025 Strategy Framework

To maintain its growth trajectory and achieve significant sales breakthroughs in the upcoming
year, L'Oréal has established a set of ambitious objectives for 2025, as outlined in its annual
report for 2024, as stated by the report of L’Oréal (2024). The most prominent is Growth and
Innovation, the company intends to allocate substantial resources to research and development
(R&D), employing cutting-edge technologies such as artificial intelligence (AI) to enhance its
marketing initiatives and research capabilities. This emphasis on innovation is not solely about
the creation of new products, it also encompasses efforts to enhance the efficiency and resilience
of the supply chain. By constantly innovating and developing, L'Oréal is well-positioned to
continue its leadership in the global beauty market and achieve its ambitious objectives for the
future.

II. BODY
1. Business Rationale and Project Objectives
1.1. Business Rationale

According to Dataintelo and Patel (2021), the global anti-wrinkle cream market was valued at
approximately $8.5 billion in 2023, with a projected compound annual growth rate (CAGR) of
5.1% from 2023 to 2032. This steady increase indicates a growing consumer demand for
effective skincare solutions, as the rate of population aging in all countries is increasing. The
number of people over 60 years old is expected to rise to 1.4 billion by 2030 (World Health
Organization, 2024). To capitalize on this trend, L'Oréal launched a premium product line called
Revitalift Hyaluronic Acid Line Filling Water Cream, designed to hydrate the skin and reduce
wrinkles, with the main ingredient is a combination of 3 types of Hyaluronic acid, the most
prominent of which are Micro HA and Ceramide, which helps strengthen the skin's protective
barrier, combined with a striking purple packaging with the signature Revitalift text in the
middle (LO'réal Paris, 2020). However, the brand faces strong competition from new products
from other companies, especially the Klairs Rich Moist Soothing Cream, with its striking white
packaging, convenient tube cream, and more moisturizing, anti-aging ingredients than LO'real

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like beta-glucan, jojoba oil, and ceramides (Klairscosmetics, 2023), have overshadowed
L'Oréal's offerings.
Research by Pravee Kruachottikul et al. (2023) and Moore et al. (2021) emphasizes the
importance of upgrading and innovating existing products, as it can lead to improved product
quality, increased sales, expanded market share, and enhanced brand image. Therefore, L'Oréal
must update the Revitalift Hyaluronic Acid Line Filling Water Cream to better compete in the
market. Improve the entire product from name, packaging, and ingredients to have a quality
product that is also environmentally sustainable. The revamped product will be renamed
Revitalift Ultra Wrinkles Filling Invisible Cream, and the new packaging will utilize recycled
plastic and glass to support sustainability goals, featuring an elegant design. The formula will
also be improved, it will have a lighter texture and absorb more quickly, thanks to the use of
Cyclopentasiloxane and Squalane oil instead of Dimethicone. These two lightweight active
ingredients absorb rapidly, provide excellent moisturization, and are more environmentally
friendly than Dimethicone. Additionally, the new version will offer enhanced hydration by
incorporating two types of hyaluronic acid compared to the previous version, alongside three
specialized peptides and Vitamin C, resulting in a significantly stronger moisturizing, plumping,
and anti-aging effect. After upgrading, L’Oréal products will have many advantages over
competitors, such as faster absorption, better moisturizing, and stronger and faster skin-
tightening and anti-aging effects. These upgrades are essential for revitalizing L'Oréal's key
product within the Revitalift line, creating a competitive advantage over competitors and
responding to the growing demand for anti-aging cosmetics due to the rapidly aging population
and increasing concerns about maintaining youthfulness (Grand View Research, 2023). The
global anti-wrinkle cream market is expected to reach $13.2 billion by 2032 (Dataintelo and
Patel, 2021). By improving this product line, L'Oréal will be well-positioned to keep pace with
market trends and capture a greater share of the anti-aging cream market.
Based on information from cosmetic ingredient suppliers such as MakingCosmetics,
Bulkapothecart, and Lotioncrafter, along with product development costs from cosmetic chemist
Ananya Sharma (Brown, 2024) and regulatory information (Weiss, 2019), the manufacturing
costs and total costs are estimated as follows:

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Initial investment cost sheets
Category Cost ($) Notes
Research and 300,000 The reasonable budget for product research
and development, ranging from $100,000 to
development (R&D)
$300,000 (Brown, 2024), is a small and
reasonable fraction compared to the amount
L'Oréal spent on R&D in 2023 for all
products, which was $1.4B (Macrotrends,
2024).
Production 200,000 Typically, production costs range from
$50,000 to $100,000, especially when
premium materials are used. Distribution and
logistical expenses might also range from
$50,000 to $100,000 (Brown, 2024).

Regulatory compliance 6,440 Include $5,000 for compliance Testing and

certification (Chan, 2024) and $890 for
VCRP registration (fulfyld, 2023)
and $550 for the CPSR (Cosmetic Product
Safety Report) (admin, 2022)

Packaging and labeling 150,000 Packaging typically adds another $50,000 to

$150,000, especially for unique and
sustainable options (Brown, 2024).
Marketing 500,000 The optimal amount to deploy strong
advertising for a new product's marketing is
between $200,000 and $300,000 (Brown,
2024). With its financial resources, LO'réal
can invest $500,000 to promote further
advertising. This is still a minor and
reasonable figure compared to L'Oréal's
marketing expenditure for all products in
2023 of €1.48B, equivalent to about $1.6B
(L'Oréal, 2024a).
Total cost 1,156,440

In recent years, the cost of launching an A-level cosmetic product has increased dramatically.
Expenses can vary from $450,000 to $1.2M for a hypothetical product (Brown, 2024). With a
total initial cost of $1,156,440, this figure is sufficient to develop a good product, aligns with
L'Oréal's strong budget when they spent about €1.1B (approximately $1.2B) on research and
development of new products (L'Oréal, 2024).

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Besides, it is impossible not to mention the ongoing costs after product launch:

Ongoing cost sheet

Category Cost ($) Notes

Research and development 300,000 Includes updated formulas,
(R&D) improved products, and
application of new
technologies.
Production cost 200,000 Monthly product
manufacturing costs
Selling and General 300,000 Including staff salaries,
Administration maintenance, office rent,
advertising
Marketing 300,000 Marketing costs are lower
later on because the initial
high marketing costs have
created a deep consumer
interest in the product.
Total 1,100,000

1.2. Project Goals and Objectives

The overall objective of the project is to maintain L'Oréal's leadership position in the premium
skincare segment and expand the customer base for the anti-aging product category. Specifically,
the goal is to increase the Revitalift product line's market share in the premium anti-aging
moisturizer segment by 15% in key markets (North America, Europe, and Asia-Pacific) within 6
months of product launch. To ensure the project's feasibility, I will apply the SMART model in
setting goals. Firstly, specifically, increase the market share of the Revitalift product line in the

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premium moisturizing anti-aging skin care segment across key markets (North America, Europe,
and Asia-Pacific). Then, meet the measurable, intend to achieve a 15% increase in market share
based on Nielsen retail data, with a 20% increase in consumer purchase intent in the target
demographic based on market research surveys. Turning to the achievable, previous Revitalift
product enhancements have achieved a 10-12% market share increase; the additional investment
in this project supports a more ambitious target. Meet the relevant, aligns with L'Oréal's
corporate objective of maintaining market leadership in the premium skincare category and
expanding the consumer base for its anti-aging product portfolio. Finally, in time-bound,
achieve the market share target within 6 months of product launch (by June 30, 2026).

2. Creative components

After researching a new product, designing beautiful packaging is essential to create more
inspiration for the product that will be contained in a delicately designed cream jar. The product
will be designed with a gradient color tone between purple and pink, creating a delicate style:

3. Additional Project Management Topics

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 3.1. Stakeholder Analysis
3.1.1. Framework Theory

Stakeholder analysis is important to build a critical foundation for project success by

systematically identifying, classifying, and understanding all parties affected by or influencing a
project and should be an ongoing process throughout the project lifecycle (Project Management
Institute, 2021). Applying this to my assignment, I analyzed the stakeholders as well as their
roles, interests, and potential impact on the project.

3.1.2. Apply for the Revitalift Enhancement Project

Internal stakeholder

Title Responsibilities
R&D Department Develop effective and safe formulas.
Senior Management Ensuring the project aligns with the overall
company strategy and generates ROI
Sustainability Team Minimize the impact on the environment
during the production process and product
materials.
Testing team Ensure product stability, batch consistency,
and safety standards.
Marketing Team Increase brand awareness and drive sales.
Regulatory Affairs Comply with cosmetic regulations, prove
claims, and document.
Production Department Resource requirements, quality control,
resources management, production report

External stakeholder

Stakeholder Theirs impacts Their interests

Consumers The sales target determines Transparency and
product sales traceability, sustainable

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 products
Supply Chain Availability of the product in Supply Chain Optimization
the market
Retail Partners Medium Pre-launch briefings, Strengthen partnerships, sales
promotional sessions, sales support, and advertising
forecasting

3.2. Project Timeline

3.2.1. A Theoretical Framework

Developing a project timeline is an important element of project management, providing

structure, direction, and measurable progress indicators. To do so, create a detailed timeline to
ensure that all project activities are completed on schedule, helping to achieve the project goals
within the set timeframe (Kerzner, 2022). In addition, according to Herroelen, Leus, and
Demeulemeester (2002), effective project timelines must balance detail and flexibility, especially
in the context of product development, where discovery and experimentation phases can yield
unexpected results. They found that projects with a clearly defined milestone framework but an
adaptable sub-task structure were 40% more likely to meet their overall deadlines than projects
with rigid task definitions. With this in mind, I developed a specific project timeline to contribute
to project success.

3.2.2. Application to the Project

Phase Activities Duratio Start day End day Responsibilitie

n s Party
Phase 1: Project Developing 3 weeks March 1, March 21, Senior
Start-up and Initiation the project 2025 2025 Management
Research charter,
identifying
stakeholders,
gathering
initial
requirements

Formula Researching 8 weeks March 22, May 17, R&D Team

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 Research & ingredients, 2025 2025
Development developing the
formula,
conducting
preliminary
stability
testing

Phase 2: Prototype Produce in 6 weeks May 18, June 28, R&D Team
Developmen Creation small batches, 2025 2025
t and refine the
Testing formula,
evaluate
sensorially

Safety & conducting 8 weeks June 29, August Testing Team

Efficacy clinical 2025 23, 2025
Testing evaluations,
performing
safety
assessments,
executing
compatibility
testing

Phase 3: Regulatory Preparing 4 weeks August Septembe Regulatory

Production Submission documentation 24, 2025 r 20, 2025 Affairs
and , substantiating
Marketing claims, filing
Preparation regulatory
documents

Manufacturin Planning 5 weeks Septembe October Prodution

g Preparation scale-up, r 21, 2025 25, 2025 Department
calibrating
equipment,
coordinating
with suppliers

Marketing Creating 6 weeks Septembe October Marketing

Development campaigns, r 1, 2025 12, 2025 Team
designing
packaging,
producing
promotional
materials

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Phase 4: Initial Running the 4 weeks October Novembe Prodution
Launch and Production first 26, 2025 r 22, 2025 Department
Operation production,
controlling
quality,
packaging

Market Planning 3 weeks Novembe December Marketing

Launch distribution, r 23, 2025 13, 2025 Team
Preparation training the
sales team,
coordinating
with retailers

Product Introducing to 2 weeks December December All

Launch the market, 14, 2025 28, 2025 Departments
conducting
promotional
activities,
monitoring
performance

Key Milestones

Milestone Description Date Significance

Formula Finalization Approval of May 17, 2025 Make sure the basic
(Phase 1) enhanced formula technical work is
meeting all done, allowing the
specifications creation of a
prototype.
Clinical Results Confirmation of August 23, 2025 Make sure official
Verification efficacy claims approval and
(Phase 2) through testing marketing claims
prove the product's
benefits.
Regulatory Approval Official clearance for October 4, 2025 Legal requirement for

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 product market entry;
(Phase 3) commercialization confirms compliance
with safety standards
First Production Successful November 22, 2025 Demonstrates
Batch manufacturing of manufacturing
(Phase 4) initial commercial scalability; provides
batch product for market
introduction.
Official Market Product availability December 14, 2025 Begins revenue
Launch to consumers generation phase
(Phase 4)

These milestones provide clear indicators of project progress, making it easier for stakeholders to
monitor and evaluate the effectiveness of the work being done. They also serve as crucial
evaluation points for the project steering committee, ensuring that all decisions are based on
actual data and results. Each milestone involves multiple stakeholders, including the research and
development team, the testing team, and the production and marketing departments. The close
coordination among these parties is essential for the project's success. These milestones are not
just progress measurement tools but also stepping stones that propel the project forward,
achieving greater accomplishments in the future.

3.3. Project Life Cycle

3.3.1. A Conceptual Structure

The project lifecycle provides a structured framework for organizing project activities into
logical phases, facilitating effective management and control (PMI, 2017), and encompasses
initiating, planning, executing, monitoring/controlling, and closing phases (Project Management
Institute, 2021). According to Trott (2020), the development lifecycles of cosmetic products
must especially focus on the transition from laboratory formulation to commercial
manufacturing. It's also crucial to integrate regulatory compliance throughout all phases.
Therefore, I applied the project lifecycle model to this product enhancement project.

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 3.3.2. Application of Project Life Cycle

Step 1: Concept Development (March 1-21, 2025) – Align with initiating

During this initial three-week phase, we'll establish the foundation for the anti-aging cream
project by conducting a comprehensive market analysis and identifying specific consumer needs
in the premium skincare segment. Our team will develop preliminary formula concepts focusing
on advanced anti-aging ingredients while clearly defining project parameters and finalizing the
business case with projected ROI figures.

At the same time, we will identify key stakeholders, including R&D, marketing, manufacturing,
and quality assurance departments, and carry out an initial risk assessment covering formula
stability, ingredient sourcing challenges, and concerns regarding the competitive landscape.

Step 2: Research and Planning (March 22- May 17, 2025) - Align with planning

This eight-week phase will focus on in-depth formula research, including peptide performance
studies and ingredient interaction analysis. We'll select optimal active ingredients based on
efficacy data and concentration optimization, develop a preservation system suitable for sensitive
skin, and conduct texture studies to achieve the desired skin feel and absorption rate.

In parallel, we'll evaluate potential suppliers based on quality, reliability, and sustainability
criteria, explore packaging options that enhance product stability and user experience, and
research regulatory requirements across target markets, including EU Cosmetics Regulation and
FDA compliance.

Step 3: Development and Testing (May 18- August 23, 2025) - Align with executing

During this crucial 14-week phase, we'll develop multiple formula prototypes with varying
concentrations of active ingredients, initiate accelerated and real-time stability testing, conduct
blind sensory evaluation with consumer panels, and develop the manufacturing process with

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scalability considerations. Clinical testing will include dermatologist-supervised efficacy studies
and skin irritation assessments.

Parallel activities will include finalizing packaging design with consumer usability testing,
developing marketing concepts based on product benefits and clinical results, and defining
quality control parameters, including microbiological limits and physical property specifications.

Step 4: Verification and Preparation (August 24- October 25, 2025)- Align with monitoring

This nine-week phase will focus on regulatory submission with complete ingredient
documentation, manufacturing scale-up with equipment validation, final stability confirmation
through challenge testing, and quality control system finalization, including acceptance criteria
and testing protocols.

Simultaneously, we'll develop marketing materials, including product photography and claims
substantiation, prepare comprehensive sales training materials highlighting competitive
advantages, and develop distribution plans with logistics optimization for temperature-sensitive
shipping.

Step 5: Implementation and Launch (October 26-December 28, 2025)- Align with closing
phases

This nine-week launch phase will initiate commercial production with full quality oversight,
execute our distribution strategy across retail and direct-to-consumer channels, implement the
multi-channel marketing campaign, and deliver comprehensive training to the sales force on
product benefits and clinical evidence.

In parallel, we'll establish performance monitoring systems for tracking key metrics, develop
post-launch assessment protocols, and implement continuous improvement processes for
manufacturing and customer feedback integration.

Step 6: Evaluation and Transition (January- February 2026) – Remain aligned with closing
phases

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The final eight-week phase will focus on analyzing market performance against projections,
collecting and analyzing detailed consumer feedback, implementing manufacturing
optimizations based on initial production runs, and completing comprehensive project closure
documentation.

We'll ensure knowledge transfer to operational teams for ongoing product management,
document lessons learned throughout the development process, and establish long-term
performance monitoring systems.

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