Stage Scoping

This first and inexpensive homework stage has the objective of determining the project's technical and marketplace merits. Stage 1 is a quick scoping of the project, involving desk research or detective work; little or no primary research is done here. Stage 1 is often done in less than one calendar month's elapsed time and five to ten person-days' work effort.

A preliminary market assessment is one facet of Stage 1 and involves a variety of relatively inexpensive activities: an Internet search; a library search; contacts with key users, distributors, and salespeople; a survey of competitors' Web pages or literature; focus groups; and even a quick concept test with a handful of potential users. The purpose is to determine market size, market potential, and likely market acceptance and also to begin to shape the product concept.

Concurrently a preliminary technical assessment is carried out, involving a quick and preliminary in-house appraisal of the proposed product. The purpose is to assess development and manufacturing routes (or source of supply), technical and manufacturing/ operations feasibility, possible times and costs to execute, and technical, legal, and regulatory risks and roadblocks.

Stage 1 thus provides for the gathering of both market and technical information, at a low cost and in a short time, to enable a cursory and first-pass financial and business analysis as input to Gate 2. Because of the limited effort and depending on the size of the project, very often Stage 1 can be handled by a team of a few people, usually from marketing and from a technical group.

Second

Screen

->•

Stage 2

Scoping Build the

Business Case

Scoping Build the

Business Case

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Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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