Project implementation is a phase of project management’s life cycle. You build project implementation steps, take the steps along with handling the coming-up problems, and achieve the objectives of the project. The key factors are business planning, IT system, fulfillment, customer care system, as well as go live. And these can help you successfully implement projects. Here is an overview of each factor and the activities involved.
Business planning
Every project needs a plan. Business planning can be called the heart of project implementation steps. While planning, all the tasks, and resources of the project have to be identified under a specific strategy for producing them. Three key objectives of the planning process are: identifying the work, preparing the schedule, and estimating the costs. To achieve those objectives, you will have to complete the following contents: competitor analysis, market research, target, and budget.
Competitor Analysis
Competitor analysis is a strategy in which you identify your major competitor and evaluate them by their strengths and weaknesses related to your business, products, and service. Based on the evaluating result, you will build up your strategy to improve upon your competitors. As the input of the project implementation steps, competitor analysis will help you determine the market share in your target market, uncover the market trend, specify which product to develop, and optimize your sales strategy. In short, competitor analysis will lead your enterprise down the path of achievement.
Market research
Market research is a study of your potential customers. You will collect all information about your buyer personas, target audience, and customers. Based on the information, you can identify how feasible and successful your products and service would be among these people. Below are some basic steps to conduct market research for your reference:
- Determining your buyer persona: You create your ideal customers that your enterprise can market, sell, and serve better. There are some key characteristics you should focus on age, sex, location, income, career, family size.
- Identifying a persona group to join: Based on your buyer persona, use the information to identify a group to engage. This group will represent your target customers and help you understand more about their characteristics, challenges, and buying habits.
- Listing the questions for your market research participants: You should prepare a wide range of questions (for the group, online survey, or phone interview) to make sure you cover all the top-of-mind questions and save your time. You should use open-ended questions to avoid one-word answers which are unhelpful for your research.
- Listing the primary competitors: The list will contain industry competitors whose products overlap yours and content competitors who are online publications you are competing with. There are many ways for you to make the list: Using social media, downloading market reports, reviewing your industry quadrant on the business and service review web.
- Classifying the gathered information and summarizing your findings: From all the information you have collected, you will classify the information into each group, analyze them, and summarize your findings. You can use the below techniques to help you find quick and actionable insights: flow model, affinity diagram, and customer journey map.
In short, market research can help you define your market accurately. Then you can market your target and potential customers more effectively. Moreover, it can help you balance between your cost base and the likely demand levels. The more you understand your customers, the easier you meet their requirements as well as targeting them with the right messages.
Read more at: https://magenest.com/en/project-implementation-steps/
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