This essay uses the development of the first fully electric vehicle as an example to analyze Porsche's project management.
After starting the project to develop a fully electric vehicle in 2015, Porsche performed research and built different concept cars for three years. After another year of further optimization on the final car, they finished the project after four years by delivering the first fully electric car at the end of 2019. The name of the car is Porsche Taycan. While Porsche knew the scope of developing a car and already had contact to most stakeholders, this project still was different from their other operations.
Table of Contents
1. Executive Summary
2. Description of the project: Porsches launches its first electric vehicle
3. Porsches Vision, Mission and Values and the connection to the project
4. Rationale behind the project
5. Conclusion
Project Objectives and Focus Areas
This assignment examines the strategic development of Porsche's first fully electric vehicle, the Taycan, analyzing the project's financial success through Net Present Value (NPV) calculation while evaluating how the initiative aligned with the company's core corporate values, such as sustainability and innovation.
- Strategic project management of the first fully electric Porsche.
- Alignment of corporate vision and mission statements with product innovation.
- Financial performance analysis and NPV assessment of the Taycan project.
- Management of stakeholder expectations in a unique development environment.
- Sustainability and environmental impact considerations in EV production.
Excerpt from the Book
Description of the project: Porsches launches its first electric vehicle
Porsche is a German car manufacturer with a focus on sport- and high-performance cars. The company belongs to the Volkswagen AG, which is amongst the biggest car manufacturers worldwide. Within the Volkswagen group, Porsche is the brand which makes the most profit and thus compensates the financial performance of other automobile brands (Menzel, 2021). Although Porsche has a deep connection to motorsport and is famous for the power of their petrol engines, they launched their first fully electric vehicle in 2019. The new model has the name Porsche Taycan. As this decision contrasts with the tradition of the brand, this move must have been planned and thought out to the last detail.
Porsche first announced that they work on an electric vehicle on the “Frankfurt International Motor Show” in September 2015. The first concept car was named Mission E and was the basis for the later following first electric car, which should be produced commercially (Korosec, 2019). After 3 years of research and development, the name of the first electric vehicle was finally revealed and the Porsche Taycan was introduced to the world in 2018 (Porsche, 2021). After one year of further optimizing, the production and delivery of the first cars took place at the end of 2019. Thus the project took four years to complete.
Summary of Chapters
1. Executive Summary: Provides a high-level overview of the four-year development project of the Porsche Taycan and highlights its overall commercial and strategic success.
2. Description of the project: Porsches launches its first electric vehicle: Details the timeline, development phases, and the stakeholder landscape involved in launching Porsche's first all-electric sports car.
3. Porsches Vision, Mission and Values and the connection to the project: Examines how the company's established values were integrated into the development of the Taycan to maintain brand consistency.
4. Rationale behind the project: Offers an analytical look at the financial viability of the project by calculating the Net Present Value based on R&D expenditure and sales projections.
5. Conclusion: Summarizes the project's success from both an organizational and financial perspective, while noting its foundational role for future electric models.
Keywords
Porsche, Taycan, Electric Vehicle, NPV, Sustainability, Innovation, Project Management, Mission Statement, Vision Statement, Automotive Industry, Stakeholder Management, Financial Performance, Mission E, High-performance cars, Volkswagen AG
Frequently Asked Questions
What is the core focus of this assignment?
The work focuses on the strategic project management and financial evaluation of Porsche's development of their first fully electric vehicle, the Taycan.
Which central topics are addressed in this document?
The document covers corporate strategic planning, brand mission/vision alignment, stakeholder management, and basic investment appraisal techniques like NPV.
What is the primary research goal?
The goal is to demonstrate that the Porsche Taycan project was a success by analyzing how it integrated with company values and how it generated a positive financial return.
Which methodology is used to evaluate the project?
The author uses a qualitative approach by linking corporate mission statements to project goals and a quantitative approach by calculating the Net Present Value of the project.
What is covered in the main body of the text?
The main body covers the project timeline starting from 2015, the importance of aligning the product with the "Porsche" brand name, and a financial summary of costs and earnings.
Which keywords define this work?
Essential keywords include Porsche, Taycan, Electric Vehicle, NPV, Sustainability, Innovation, and Strategic Management.
How did Porsche handle the challenge of shifting from petrol to electric engines?
Porsche addressed this by building the project from scratch while ensuring the final product continued to reflect their core values of quality, performance, and innovation.
Why was the stakeholder management deemed more complex for this project?
The project was unique, requiring new suppliers for EV-specific parts and a much more detailed communication strategy for existing stakeholders.
What was the financial outcome of the Taycan project?
The project resulted in a positive Net Present Value of approximately one billion USD, demonstrating strong financial project viability.
What role does the "Mission E" play in the project context?
Mission E served as the primary concept car and the foundational research platform that directly led to the commercial production of the Porsche Taycan.
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- P. Rothe (Autor:in), 2022, Project Management at Porsche. Development of the First Fully Electric Vehicle, München, GRIN Verlag, https://www.grin.com/document/1357316
