BRIGHTSTAR FINANCIAL RE LAUNCHING

BRIGHTSTAR FINANCIAL RE LAUNCHING
Australian Expert Writers
Name of the Student
Name of the University
Author note

Introduction 2
Literature Review 3
Project Planning, Metrics and tools 5
Project leadership 10
Risk Analysis 11
Critical Success Factor 13
Conclusion 14
References 15

Providing private label service to the clients have been acting as a goal for Brightstar Financial in the upcoming goals. Providing customized services to their clients for increasing their efficiency process has been the main concern of this process. It is noted that one size fit all approach has not been providing any exclusive benefits to the clients. This is the main reason that introduction of private label servicing is introduced in the system.
Objective
To implement private label in bespoke and underwriting of complex, high value mortgages.
To deal with complexities and time consuming nature of high value mortgages leads to one size fit for all approach for all the clients present in the section. This will lead to improper assessment of complex income and property types that are non-standard in nature. Hence with the introduction of this private label, exclusive service offers will be made and hence the clients will be experiencing a complete tailored service as per their need.
Purpose of selecting this project
This project has been chosen as this project incorporates technology as well as experience of skilled managers who will be providing customized solutions for the clients. This innovative initiative will be benefitting the clients and hence wise this project of Brightstar Financial re launching private label services have been selected.
Future of the project
Future of this project looks bright as this section tends to provide services that are precise in nature. This services will be benefitting the clients in longer run. The main issue that it might arise in this case is privacy issues in near future. Brightstar Financial will need to work on the same. In case Brightstar Financial puts in proper effort for mitigating the same, it can be expected that future of the project will be good.
Business organization background
Brightstar Financial has been acting as a specialized organization that leads to performing of the distribution of the residential related processes. They are also concerned with the functioning of the let mortgages for performing second charge loans which acts as a bridge in between the loans and finance related cover lending. This organization has been performing trading that is based on the commercial investments and housing related loans. Asset and cash flow processing have been considered as incorporated finance related issues. This company originated in the year 2010. The business organization is based in United Kingdom. Residential mortgages has been the major aspect that has been acting as the major concern of Brightstar Financial business organization (Brightstar 2019).

According to Schwalbe (2015), the strategic operational principles that are to be followed for processing of business includes identifying of strategic dynamics. Implementation of process theory is done in Small Medium Enterprises.
Hillary (2017) stated that the objective of the SMEs are considered to be partially systematic and partially opportunistic as well. This is the main reason that the functional process of the SMEs are performed as per the managerial decisions. The entire processing is performed as per the external market oriented thoughts. Resource Based Views are also ignored in the SME. Again it can be stated that SMEs functioning is directly dependent on the customers of the business organization. Implementation of both convergence and divergence as per the stream strategy management literature is performed in a proper manner (APM Body of Knowledge 2012). Strategies are developed in order to perform execution of the project and implementation of the innovation.
As per the reading of Heldman (2018), the market based view framework that is considered includes reviewing strategy, external market based orientation, strategy execution, understanding the competencies and core capabilities (Kerzner 2017). Again constant communication as well as managing strategic change will be performed. Strategic awareness is also performed in this section. Despite this functional process an inter-linkage among the sub heading is expected in order to execute the functional processing of business execution.
Again according to Heagney (2016), the data design summary of varied SMEs include understanding of organizational categories with the help of the conceptual framework that is used for formulation of the implemented review.
As per Joslin and Müller (2015), after this stage establishing of significance will be done. This section includes performing of the counting in thematic pattern and searching of the entire data set. Again with the help of the conceptual ordered maps proper description is performed and hence substantive categorization is also made (Maylor 2017). Performing researcher’s interpretations will be done with the help of statistics. After performing this process cross case analysis will also be performed.
Whereas in case of Brightstar Financial has a vivid and differential approach for conducting business. As per the Brightstar (2019), Re launching of private labeled service, the main objective of Brightstar Financial firm is to establish themselves as the a private label lending service. The functional process that is considered for this organization is different from the general functioning of the SMEs. Instead of having a partial systematics and partial opportunistic approach, Brightstar Financial implements complete systematic approach. The entire work structure is initially framed and structured. This structuring of the framework includes the fact that proper processing of the business is performed. However Brightstar Financial has been using high end technology for processing of business. Usage of Easy Source Login in the project of re launching private label products. This provides the fact data transmission processing via business management will be made and hence proper assessment of complexities related to the data circulation and data transaction can be performed in a proper manner (Brightstar 2019). Complexities are handled as per their nature of time consumption. Usage of one size fit all approach that is often done by the SMEs are mitigated. Creation of customized offers for their clients have been provided for the non-standard property type. Introduction of bespoke service package have been acting as an important stand out prospect that ensures that better functioning process is performed. With the introduction of the bespoke system, the main aspect that is considered in this system is that the exclusive service offers for tailored needs of the clients and hence providing them a fruitful experience (Pinto 2015). As compared to the other SME s there is a slight alteration in the functional process. This alteration includes the fact that focusing on the system functioning as per the projection of the received commission (Brightstar 2019). The rate of service that is provided by Brightstar Financial under the private label project will ensure that the involvement of the business organization will vary with the rate of commission that is provided to them.

Project Plan
Purpose of the project
Purpose of the project is to perform analysis of the management process of a SME named Brightstar Financial’s new project on re launching of private label services to their clients. A proper research will be conducted for understanding the benefits that will be gained after completion of the project.
Main Deliverables
The main deliverables that are to be performed are Initiating the project, Gathering the project requirement, Executing the project and ending the project.
Timeline
Figure 1: Time Line
(Created by author)
Project Lifecycle
Life cycle of the project is diversified in 4 sections, namely Project planning, Gatherig of data, Performing the project and Ending the project.
Project Planning
In the project initiation phase planning of the project initial stages will also be stated. Performing project planning ensures that the tasks that are to be performed will be plotted in this section and hencewise task will be proceeded with.
Gathering data
After this stage doing research regarding the data that are previously generated from the company is to be perfpormed. Performing quantitative data analysis is also performed. After this stage reviewing of peer reveiwed article analysis regarding SME will also be performd. After this requirement gathering process is to be performed. In this stage need of the project is analyzed and hence scope identification will be performed. After this section objective defination will also be performed. After this section usage of estimating tools are used. After analysis of the estimation tool top down estimated tool is used for the process. After this stage the innovations that are to be implmented are stated in the project.
Project Performing stage
In the execution phase, implemnentation of EasySource is to be performed. After this section, data is collected from the clients of the business organization. After this stage data are collected from the clients for the registration purpose. After data collection analysis of the same data is performed for providing advice. After the analysis is performed proper advice is provded to the client hence wise.
Project Closure
In the project closure stage comparing the data collected from primary data collecvtion of the busienss organization with the data of SMEs that are available in the peer reveiwed journlas. After comparing proper analysis of the result is done.
Figure 2: Gantt chart
(Created by author)
Figure 3: Work Breakdown Structure
(Created by author)
Figure 4: Product Breakdown structure
(Created by author)
Hence wise the estimation process is performed (Hornstein 2015). With the help of the top down estimation process the main advantage that will be received is that high level information are gathered for processing of project completion. This will ensure that better assessment of cost estimation is performed and hence wise budgeting is done. Top down estimation tool helps in performing there has been an entire team of leaders who have been working on the project of re-launching of the private label brand

The leader team consists of the Chief Executive Officer (Rob Jupp), Managing Director (Bradley Moore), People Development Director (Clare Jupp), Operations Director (William Lloyd), Head of Marketing (Michelle Westley), Head of Second Charge Mortgages. This team of managers have been acting as the decision making body. Re launching of the private labelled product is led by the group of these managers. Traditional leadership method is followed in this section. Rob Jupp has selected the project scope and was assisted by Bradley Moore for the same. Clare Jupp is in charge of the public relationship manager. The project manager functions under Managing Director. The project manager is concerned with the planning and budget developing process (Brightstar 2019).
In the initial section, Rob Jupp performs decision making and initiates ideology of new project. In this process of traditional leadership the owner of the business chooses the project and decisions are made accordingly. As per the norms of traditional leadership process, the decision that is made by the CEO is conveyed in a hierarchical manner and hence the information reaches out to the employees of the organization (Brightstar 2019). From the CEO the decision that is made is conveyed to the managing director and the henceforth hierarchy and this will ensure that proper management will be made. Hence following a proper hierarchy in the business management process has been providing higher integration as per the processing of the business management. With proper involvement of the hierarchical management, it can be stated that the project of re launching of private labeled products will be having a robust managerial unit and the leadership style will benefit the functioning process (Brightstar 2019).

Risk
Risk Description
Cause of Risk
Risk Impact
Risk Mitigation process
Privacy Issue
Usage of Easy Source will include risks that are related to the privacy related terminology. Data are collected and analyzed via this application (Sánchez 2015). Form of IRESS sourcing system will be requiring the processing of the Easy Source as the forms will be submitted via this platform. Hence the data that are provided via submitted forms are highly accessible by the Easy Source application (Walker 2015). This will lead to the fact that the data analysis that is to be performed will be getting stored in the database of the application. In case the application gets hacked or data breaching tales place, it can be stated that the clients of Brightstar Financial will be acting as the sufferer (Fuller et al, 2017). This will again reduce the good will of the business organization and hence audience base might decrease.
Use of EasySource
Data Stealing
For mitigating this issue the main aspect that must be considered is that firewall is needed to be installed in the database of the system. This will help in reducing the privacy related issues and hence security of the personal information of the clients will be protected.
Low Profit Making for the
Profit making chances of the direct lender reduces as the Brightstar Financial charges near about 50% of the total for providing basic level consulting to the direct lenders and charges almost 75% of the total business profit from the direct lenders for providing them help with extensive helps regarding decision making (Lock 2017). Despite gaining high percentage of profit the main concern that is present is that the management of the business processing will be acting responsible for each and every decisions that will be made again in case the major the project fails Brightstar Financial will not take any responsibility as per their laws. This is the main reason that the direct lenders might not feel at ease with collaborating Brightstar Financial. Even the rates of residential mortgages have been higher in compared to the other lending options (Andersen 2016).
High rates of commission
Eliminating contracts
For mitigating this issue the main aspect that is needed to be considered is that the rates of collaboration is required to be decreased and along with that responsibilities are also to be taken
Transparency with direct clients leading to elimination of lenders
Brightstar Financial will be handling the entire case of the client. After handling of the case of the clients, the main issue that will be faced is that the lender as well as the client will be highly dependent on the managers of the business organization (Binder 2016). This will again lead to the fact that the client will no longer want to trade with the direct lender. Instead he would like to collaborate with Brightstar. Directly. As the client will be receiving the benefit of paying less in case of performing direct trading. This process of direct trading will be way cheaper and transparent for the client himself. Hence wise eliminating the middle man will be easier for him. This will act as a prime reason that direct lenders will rather try to avoid the entire scheme of private label than embrace the same (Qazi et al, 2016).
Higher interest rates
Clients will directly approach Brightstar Financial and hence wise lead to eliminating the lenders. This will affect the organization in a long run as the lenders have been investing larger amount than the direct clients.
For mitigating the risk the main aspect that is to be considered is that proper privacy measures must be taken. This proper taking of privacy measure will ensure that there is no link in between the direct client and Brightstar financial (Young 2016). An opaqueness is to be maintained in between Brightstar Financial and the direct clients, whereas there must be a transparent relation in between the lenders and Brightsar Financial

Critical success factor of the project is also termed as the Key Result Areas. This section can be satisfied after performing of the activities that are stated in the project schedule. In case the project of Re launching of private labelled product gets performed as per the schedule, it can be stated that the initial stage of passing critical success factor will get established. In this project the main aspect that will be considered is the quality of service and support Brightstar is providing as per their commission slabs. It is expected of them to provide complete support to the direct lender and their client in case they opt for the advised lender commission project. In this case the charge that is taken in the lender commission split is 25/75% of the total billing (Brightstar 2019). In this case the experts of the organization works with the client in a direct manner. In case the advice that is provided by them does not bring in proper result it is obvious that critical success factor of the project will get affected in a negative manner (Archibald and Archibald 2016). Hence it can be stated that success factor of the project is directly dependent on the output that is generated from the project. Another aspect that is considered for Key Result Area is that the entire project must end by the fund that is estimated. Success criteria of a project is highly dependent on its completion within its budget for Brightstar Financial (Brightstar 2019). Another success area that is to be considered for proper execution of the skilled and complex mortgage case managers and skilled employees are to be recruited. These are critical factors that are to be considered for marking the success factor of the project (Serra and Kunc 2015).

The issues that are to be considered includes usage of EasySource. Despite the fact that EasySource has been increasing the convenience of the project, security related issues might arise and hence wise higher rates of commission might be acting as another issue. Reducing the rate of commission has been another aspect that will be leading to proper collaboration process in between lenders and Brightstar Financial. Disregarding the issues the main aspect that is to be considered is that this re launching of the private label service, will be providing an expert advice and service as per the selection of the scheme that will be chosen by the client. This will ensure that a personalized service will be received. This has been a new ongoing project that can be considered for receiving better advice for the mortgage related issues. Brightstar Financial has been provisioning day one remortgage and self-builder process. Mortgage tailor has been a collaboration of building society for performing bespoke solutions. Usage of IRESS as per the sourcing system will also be made in a manner that will be bettering the enquiry form and perform nontraditional mortgage business.

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