Page 49 - Journal of Strategic Marketing Magazine - April 2019
P. 49
PROJECT MANAGEMENT
Smartsheet.com has useful use when looking at the three primary 5. The Boston Matrix
templates available for free download forces of a project as well as if, when "The major reason for setting a goal is
in Word or Excel. and where, a trade-off between them is for what it makes of you to accomplish
necessary: it. What it makes of you will always be
2. Project plan the far greater value than what you
"Plans are useless, but planning is • Time get."
essential." • Quality - Jim Rohn
- Dwight D. Eisenhower • Cost
The Boston Matrix uses the axes
While a project charter is an As Nick Jenkins, from Project Smart, of relevant market share in relation
overview of a project, often to get buy- says, “The best project managers will to relevant market growth to chart
in and approval for the framework, a juggle all three like hot potatoes and portfolios within a business, deined as:
project plan works on the approved will make decisions every day which • Dogs: Products with low growth or
structure and framework of the charter. effectively trade-off time versus quality market share
Bright Hub Project Management versus resources.”
outlines the following points on how • Question marks or problem
a project plan assists with the speciic 4. Ansoff's Matrix children: Products in high growth
detail of executing, managing and "Management is, above all, a practice markets with low market share
controlling: where art, science, and craft meet." • Stars: Products in high growth
- Henry Mintzberg markets with high market share
• Project value proposition • Cash cows: Products in low growth
• People involved and their This strategic planning tool dates markets with high market share
responsibilities back to the 1960s and is named
I’ve included this matrix as it is
• Business structure after its creator, Russian American useful for companies with separate
• What needs to be done mathematician and business manager, business units or diverse products,
• Phases, activities and tasks Harry Igor Ansoff, also known as the but as Strategic Management Insights
• Identiication of the work “father of strategic management”. points out, the following steps must be
The Matrix is based on Ansoff’s
breakdown structure (WBS) deinition of product-market strategy used:
• Allocation of resources as being: “A joint statement of a
• Timelines and milestones or critical product line and the corresponding • Choose the unit
path schedule (CPS) set of missions which the products are • Deine the market
• Documentation of project inter- designed to fulil.” Within the axis of • Calculate relative market share
dependencies existing/new markets and existing/new • Find out the market growth rate
products are: • Draw the circles on a matrix
There are various ways to create
a project plan, but the traditional • Market penetration 6. Gartner’s Hype Cycles
Microsoft Project templates always • Market development “Realistically, the world (and the
work effectively, or explore the option • Product development technology) aren’t quite ready for
of using a free Gantt chart template. • Diversiication autonomous lying taxis.”
- Kasey Panetta
3. Project plan scope triangle The beneit of using Ansoff's Matrix
"Time is the most valuable thing a man (also known as the product/market Unlike most of the tools on this list,
can spend." expansion grid) is that it can be used Gartner’s Hype Cycles positions us
- Theophrastus to, as MindTools explains, “identify irmly in the 21 century. It’s described
st
alternative growth strategies by looking as, “A graphic representation of the
The scope triangle has been used at present and potential products in maturity and adoption of technologies
in project training programmes for current and future markets”. and applications, and how they are
over 25 years and is a useful tool to potentially relevant to solving real
Strategic Marketing - p47
Smartsheet.com has useful use when looking at the three primary 5. The Boston Matrix
templates available for free download forces of a project as well as if, when "The major reason for setting a goal is
in Word or Excel. and where, a trade-off between them is for what it makes of you to accomplish
necessary: it. What it makes of you will always be
2. Project plan the far greater value than what you
"Plans are useless, but planning is • Time get."
essential." • Quality - Jim Rohn
- Dwight D. Eisenhower • Cost
The Boston Matrix uses the axes
While a project charter is an As Nick Jenkins, from Project Smart, of relevant market share in relation
overview of a project, often to get buy- says, “The best project managers will to relevant market growth to chart
in and approval for the framework, a juggle all three like hot potatoes and portfolios within a business, deined as:
project plan works on the approved will make decisions every day which • Dogs: Products with low growth or
structure and framework of the charter. effectively trade-off time versus quality market share
Bright Hub Project Management versus resources.”
outlines the following points on how • Question marks or problem
a project plan assists with the speciic 4. Ansoff's Matrix children: Products in high growth
detail of executing, managing and "Management is, above all, a practice markets with low market share
controlling: where art, science, and craft meet." • Stars: Products in high growth
- Henry Mintzberg markets with high market share
• Project value proposition • Cash cows: Products in low growth
• People involved and their This strategic planning tool dates markets with high market share
responsibilities back to the 1960s and is named
I’ve included this matrix as it is
• Business structure after its creator, Russian American useful for companies with separate
• What needs to be done mathematician and business manager, business units or diverse products,
• Phases, activities and tasks Harry Igor Ansoff, also known as the but as Strategic Management Insights
• Identiication of the work “father of strategic management”. points out, the following steps must be
The Matrix is based on Ansoff’s
breakdown structure (WBS) deinition of product-market strategy used:
• Allocation of resources as being: “A joint statement of a
• Timelines and milestones or critical product line and the corresponding • Choose the unit
path schedule (CPS) set of missions which the products are • Deine the market
• Documentation of project inter- designed to fulil.” Within the axis of • Calculate relative market share
dependencies existing/new markets and existing/new • Find out the market growth rate
products are: • Draw the circles on a matrix
There are various ways to create
a project plan, but the traditional • Market penetration 6. Gartner’s Hype Cycles
Microsoft Project templates always • Market development “Realistically, the world (and the
work effectively, or explore the option • Product development technology) aren’t quite ready for
of using a free Gantt chart template. • Diversiication autonomous lying taxis.”
- Kasey Panetta
3. Project plan scope triangle The beneit of using Ansoff's Matrix
"Time is the most valuable thing a man (also known as the product/market Unlike most of the tools on this list,
can spend." expansion grid) is that it can be used Gartner’s Hype Cycles positions us
- Theophrastus to, as MindTools explains, “identify irmly in the 21 century. It’s described
st
alternative growth strategies by looking as, “A graphic representation of the
The scope triangle has been used at present and potential products in maturity and adoption of technologies
in project training programmes for current and future markets”. and applications, and how they are
over 25 years and is a useful tool to potentially relevant to solving real
Strategic Marketing - p47
