Project Management Institute

When second means best

You're familiar with the scenario: Your team has persevered through a complex, big-budget project for a year, and you're only weeks from a new product launch. Then one day, you hear startling news: a competitor has just introduced a similar product in the marketplace. Now what? This article discusses how to adjust your project plan when a competitor's project hits the marketplace first. For example, it describes how Apple introduced the iPod in 2001, which was after the first digital music player was on the market, and summarizes how the iPod quickly dominated that product category. The article then details how to differentiate your project's deliverables and identifies the most effective method to observe how others use your product. It also examines how studying the market's response and finding ways to improve on the competitor's product will provide an understanding of what your product should include. The article also looks at how allowing for product modifications requires a generous schedule and sugges
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