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Opportunity Analysis
The goal of Potential Opportunity Analysis is to enhance the success of your project. It involves the same type of detailed planning as risk management.
We all know Murphy’s Law: whatever can go wrong, will. To protect our project, we undertake detailed risk management, document preventive and contingent actions, and add tasks to our plans. But how about anticipating the things that go can go better than expected?
The goal of Potential Opportunity Analysis is to enhance the success of your project. It involves the same type of detailed planning as risk management.
First, review your project plan and consider tasks that you would like to enhance — areas where you may be able to realize savings in cost, time and/or resources. On a new product development project, a potential opportunity is the packaging design completes earlier than expected.
Next, identify factors that could increase the likelihood of the potential opportunity: the vendor expedites the packaging design. Now determine promoting actions that will encourage the cause: call vendor with package design specs and offer to expedite payment.
Next, consider capitalizing actions to maximize the benefit of the opportunity if it happens, and add tasks to your project plan so that you can be prepared. Capitalizing actions if the packaging design …
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