How to do Product Analysis in Project Management

Here is how you can carry out Product Analysis in Project management…

 

Product Analysis is an evaluation of the Project ‘s end product and what it will take to create the product. It is meant to translate the project objectives into tangible deliverables and requirements.

It has to do with techniques such as product breakdown requirement analysis, system engineering, system analysis, value engineering as well as value analysis. Follow me as we look at some of this together.

 

#1 Functional analysis
This has to do with analysing all that a product is going to do, including primary and other related functions that the product will be able to do. It is meant to identify unnecessary functions that may drive up the cost of a project. It is also meant to avoid repetition of functions in a project.
How to do Product Analysis in Project Management
#2 Value engineering and analysis as part of a product analysis
This is used to identify and develop the cost versus benefit ratio for each function of a product. You are asking yourself if it is reasonable to spend a particular amount to get a particular product function.
It is a method of controlling cost while maintaining performance and quality standards. This method is always adopted in military and construction projects.

#3 Quality function deployment as part of a product analysis
There is the need to identify what the customers’ need is and translating those needs into technical requirements. This method can be adopted at every stage of the product development cycle.

#4 System Engineering
This is meant to analyse products holistically and integrate some functions such as users, usage environment and related hardware or software, with which the product must function.

Now your take on this argument.

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Now your take on this argument.

We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.

 

You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.

 

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Adeniyi Salau (CCNA,CDMP, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.

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