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MARKET ANALYSIS
Market and demand analysis are carried out by the
project manager in the process of evaluating a project
idea. There are six steps in the market and demand
analysis: situational analysis and objectives
specification, collection of data, market survey, market
description, demand forecasting and market planning.
The market and demand analysis helps the project
manager to understand how the firms abilities can be
synchronized with market requirements. Market
analysis studies market needs and consumer
preferences for a given project idea and demand
analysis aims at calculating the aggregated demand for
a particular product or service.
OBJECTIVES OF MARKET ANALYSIS
PRODUCT
PRICE
PLACE
PROMOTION
TECHNICAL ANALYSIS
The technical analysis of a project idea includes
designing the various processes, installing equipment,
specifying material, and prototype testing.
The project manager has to be careful in finalizing the
technical aspects of the project as the decision is
irreversible and the investments involved may be high.
The project manager has to select the technology
required in consultation with technical experts and
consultants.
.
SELECTION OF TECHNOLOGY
1. What will the technology do?
2. What will it not do?
3. What inputs will it require?
4. What will it cost?
5. How certain are the above?
Sources of technology
In-house or
May be required from outside
Issues involved in technology
acquisition
Long term relationship
Components- like design parameters, quality
control, material specifications, training
Uncertainty
Costs
sources
Technology acquisition process
Identification
See the following:
Plant capacity, inputs available, capital outlay,
product mix
Evaluation
The selected technology must be evaluated for
its suitability and appropriateness
Issues to be considered:
Does it use local raw materials?
Easy availability?
Local inhabitants effect?
Skills available locally or not?
Ecologically friendly or not?
Harmony with local social and cultural norms?
Sources of Technology
Can be: other manufacturers, research and
development, technical institutions or experts