Project Selection Process S010

Blog: Biz-Performance, David Brown

S010 – Market Review

DEFINITION

An initial survey of methods and products available in the marketplace.

SUMMARY

The market review is used optionally to study the full options available in the marketplace. It is used where the project team have an incomplete knowledge of the marketplace. Given the size of today’s package marketplace and the enormous rate of technical change, it is increasingly common that no-one has a complete understanding of the possibilities.

The market review provides an overview of the business and technical possibilities. It establishes that there is at least one apparently feasible solution. It provide the initial information upon which to base the subsequent preparation of long lists and short lists for options to be evaluated.

This process is essentially a fact-finding exercise. Knowledge about the market is picked up from a range of sources, eg Consultant information sources, other team members, software directories, magazines, etc. The findings are presented in an informal manner, comprising a collation and distillation of the facts.

PATH PLANNING GUIDANCE

This process is optional. It will be of value where the project team has incomplete knowledge of the marketplace.

DEPENDENCIES

Prerequisites (Finish-Start):

definition of basic scope and requirements for the project

Dependent procedures (Finish-Finish):

Establish “long list” (S030)
Issue Invitation to Tender (S080)

RECEIVABLES

Project’s scope and terms of reference
Definition of Requirements (a high-level summary is sufficient)
External Business Review (if performed in Requirements Segment)
External Technical Review (if performed in Requirements Segment)

DELIVERABLES

Market Review

TOOLS

Tools: Package Information Sources

DETAILED DESCRIPTION OF TASKS

First ensure that it is clear what the desired system is intended to deliver and what are the basic constraints. Normally this information will have been determined by the Requirements Segment, or the client organisation’s own statement of requirements. At this time, this information can be at a very basic level. The purpose is to scope the market review, not to define the actual system to be selected. For example, it may be defined that the review should be restricted to integrated financial applications based on client-server architecture.

Within the defined scope, a wide search should be made seeking to identify any solution which might address the client organisation’s needs. The information sought should be sufficient to identify whether the solution might:

be available within the desired timeframe,
be available on the required technical platform,
be within the organisation’s financial constraints,
address the basic business functions required.

The information required may be available from:

Consultant’s various international information centres,
the support desk,
Consultant’s geographical resource centres, eg The European Resource Centre,
Consultant’s vendor-specific international competence centres,
Consultant publications, eg The Consultant Directory of Financial Software,
software reports,
software directories,
technical review specialists,
specialist industry-based magazines,
specialist IT Magazines,
online and CD-based databases,
contacts in associated organisations or in professional organisations,
conferences.

Details of some information sources can be found in the Tools document “Package Information Sources”.

The information collected should be collated. Archive details of any packages which are clearly inappropriate (the information may become relevant at a later time due to changes in the project or for a different project). Collate the potentially relevant information so that it can subsequently be used to assist in the establishment of the “long list” of potential solutions.

Optionally, the information may be summarised into a brief, informal report to allow the overall findings to be made known to a wider audience, e.g. to the key user management involved in the project. This document is known as a Market Review. Care should be taken to emphasize that these results are based on general information discovered in relation to a summary view of the organisation’s needs – it does not guarantee whether any specific named solution is, or is not, appropriate.