Date post: | 11-Apr-2017 |
Category: |
Small Business & Entrepreneurship |
Upload: | james-christopher |
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Balancing the two main dimensions and diving into its constituent and expanded dimensions to determine how your product sizes up with competing and substitute products.
TechnicalFeasibility
CommercialViability
TELOS Feasibility
Technical - Is the project technically possible?Economic - Can the project be afforded? Will it increase profit?Legal - Is the project legal?Operational - How will the current operations support the change?Scheduling - Can the project be done in time?.
Nexus of Project Management and Product Development
Factors
Key factors to consider in the problem-solution to product-market fitness model.
FunctionalityPerformanceUsability / UXAccessibilityCompatibilitySustainabilityPortability
AffordabilityCommunityProfitabilityCustomizationLearnabilityLegality
CompatibilityIs your product compatible with legacy, vendor specific, standardized or in-house products?
ScalabilityIs your product compatible with legacy, vendor specific, standardized or in-house products?
MaintainabilityCan your product be maintained with low cost with little effort? Are parts easy to get? Is it easy to configure or replace the parts?
AffordableIs your product expensive compared to other substitutes? Are you right at price sweet spot?
SustainabilityHow environmental friendly is your product? What is your environmental footprint for production and consumption of your product?
CommunityIs there an existing community of fans or users that exist for your product? If not, how will you attract those users to share their experiences and knowledge among themselves?
ProfitableIs it worth designing, producing and selling your product? Can your product generate worthwhile returns for the company? Will it grow the top line?
SecurityIs your product secure from hackers? What is the level of security? Has it been tested for vulnerabilities?
CustomizableIs your product compatible with legacy, vendor specific, standardized or in-house products?
LearnabilityIs the learning curve of your product steep or flat? Does the customer need specialized knowledge to get started?
AccessibilityHow do you accessible is your product? What are the channels and prerequisites for using or interacting with your product?
Market TimingDoes your product/service adhere to specific regulations and industry specific provisions?
Remembering Your MissionWhat is the bigger vision of your organization and the products you produce?
Elevator PitchCan you tell you story in 5 seconds? And think about the benefits you offer from the factors of product fitness to craft your story.