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Topics: Business Intelligence, Estimating, Requirements Management, Strategy
When you enter a new market and do not have enough data on customer behavior in the area, how would you obtain specific data to justify your business case?
I am embarking on a new line within my electronic security business in Quevedo, Ecuador. I am looking for a way to sustain the investment but I can not find an answer in the market, I understand that there are few integrators in the area but in my opinion they have not exploited the market the way I want to do it. Can someone give me some insight into how to enter the market with this new project?
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Budgeting and handling costs are one of the trickiest parts of expanding business support plans into new markets. Although the following article points out the costs of expanding in the USA, the top contributing factors are relatively similar in any country you may decide to expand.
First of all, trying to put it in words of the PMI, let me say this activity is a business analysis related activity. In the IIBA and PMI gides you will find if with the name of "strategy analysis" or "needs assessment" dpeneding of the guide. I am saying that just in case you like to find a method. Second, you can use tools like PESTLE Analysis, Porter Five Forces as guides to take the needed date. Third, at the end, remember that you go for an opportunity and it has an implicit risk. Calculate the risk is about to estimate and estimation accuracy depends on the amount of information you have.

PMI and the IIBA have published an article I wrote :
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