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MindMap Gallery Four dimensions and seven contents of project evaluation

Four dimensions and seven contents of project evaluation

When facing a project, both the sponsor and the participant cannot just read the project plan, but need to quickly identify the quality of a project through comprehensive evaluation.

Edited at 2021-04-24 19:17:02

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Four dimensions and seven contents of project evaluation

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Outline

Four dimensions and seven contents of project evaluation

Seven items

As a member of the workplace, in addition to normal work every day, I believe many people will have a restless heart. This is the best era for starting a business. Even one person can realize his entrepreneurial dream without investing so much money. This is also the worst time. The road to starting a business is full of dangers and traps. If you are not careful, you will fall into an abyss. When facing a project, both the initiator and the participant need to first evaluate whether the project is reliable. If you just look at the project plan, I believe many people will think, "This is a good project" and "This project has very good prospects." And such conclusions are often based on our feelings and being moved by the atmosphere of the project roadshow. So how do we evaluate whether a project is reliable? At this time, we need to evaluate through 7 contents to quickly identify the quality of a project.

Product reason

Product reason refers to why this product is made. Most people know what to do and how to do it, but few know why. In other words, what is the original intention of making this product? What do you want to achieve? To put it more intuitively, what is the vision of the project? What is the mission? What are values?

project team

If the team leader understands the market, at least the company can survive. If the team grows up and understands technology, the company will have the ability to develop for a long time. If the team leader understands the product, then the company may become a great company.

No matter what the project is, it ultimately needs to be implemented by people. If the core team members are not good, no matter how good the project is, it will not be successful. Generally speaking, the core members of a team must have key figures in at least three directions. The first is products, the second is technology, and the third is market.

product

Able to summarize customer needs from the market and make product prototypes.

technology

Convert product prototypes into final products ready for sale.

market

Able to sell products.

core value

Core value refers to what unique value this product can bring to customers? How does the product differentiate itself compared to competitors? What are the outstanding advantages? In summary, there are the following 4 advantages to choose from.

Leading technology

Technology leadership refers to achieving higher quality product value through more advanced technical means.

Meticulous service

Aiming at the core demands of customers, we provide services that meet or even exceed user expectations in terms of solutions.

process innovation

Through the optimization of operating procedures, work processes, methods, rules and systems, the use of products and services are made more convenient.

Model innovation

Model innovation refers to. Incorporate all related products and services into the system so that all relevant stakeholders can achieve win-win results and form a new business ecosystem.

market capacity

Market capacity is generally assessed along two dimensions. The first is the service radius, and the second is the audience group. If the product is mainly offline, there will be a relatively strict service radius. Within this service radius, how many are precise customers, that is, how many are audience groups. The number of audience groups multiplied by their average spending power equals market capacity.

trend oriented

Trend orientation refers to whether national and local policies provide policy support and guidance for the industry. At the same time, within the audience. Is there consumer demand for this product or in this direction?

risk assessment

Risk assessment refers to making profit forecasts and risk warnings for the project.

profit prediction

Generally, a three-level revenue and profit analysis is required. This method is called sensitivity analysis. In other words, the income of the three levels of low, middle and high is used to calculate the profit, and then the break-even point can be obtained.

Risk warning

List all behavioral events or factors that may have an impact on sales revenue. In this way, it can be more intuitively judged whether the risk is controllable.

growth drivers

Growth momentum refers to how to increase the number of customers and how to increase per capita consumption levels. We can use the following indicators to judge.

User new rate and user churn rate

When the user addition rate is greater than the user churn rate, it means that the project is feasible.

User retention rate

User retention rate refers to users who start using the application within a certain period of time. After a period of time, users who continue to use the application are called retention. Generally speaking. The user retention rate of a product must reach a certain level to meet the needs of daily operations.

LTV

User lifetime value. User lifetime value refers to the sum of all consumption by a user. The higher the LTV, the better the correlation between product portfolios, and the richer the product line will be.

four dimensions

Comprehensive evaluations can be conducted to supplement traditional performance appraisal systems when evaluating a project's time, cost, and quality factors. This assessment method focuses on collecting data, information and opinions from different sources. This includes feedback from project managers, project team members, partners, vendors, clients, customers and end users. One of the advantages of this approach is that it provides a more complete picture of performance and can help project stakeholders gain a clearer understanding of strengths and weaknesses in order to achieve best practice.

Team member competency assessment

When vetting project personnel, a key question is whether the people assigned to the project are qualified. This includes the project manager and project team members. Project team members can complete group and self-assessments related to key areas of the project. For example, self-evaluation can give project members an opportunity to evaluate the effectiveness of project assignments. Additionally, project end users, clients, customers, and suppliers can provide feedback on team member capabilities based on their connections to the project manager and project team members.

time management assessment

In addition to traditional schedule evaluations and reported evaluations of actual performance, time management evaluations can also include providing surveys and questionnaires to project team members to assess the effectiveness of project progress and timescale performance. Project feedback questionnaires can also assess strengths and weaknesses through time management techniques used to develop project milestones and schedule other project components.

Project budget evaluation

Traditional budget tracking techniques include analysis of variance, which evaluates the difference between budget estimates and final project expenditures. The comprehensive assessment supplement can solicit additional feedback from project team members regarding budget allocations. Additionally, an end-of-project survey can be conducted to provide a cost-benefit analysis to assess the perceived value or return on each element of the project budget.

Supplier capability assessment

Supplier capabilities are also part of the project review. The extent of supplier involvement in a project will vary significantly from one project to another. Therefore, the supplier's capabilities need to be fully investigated, assessing timeliness, quality and cost factors. In addition, project team members who have direct contact with certain suppliers can provide information about the supplier's capabilities.