Friday, May 13, 2011

Project Value Analysis

Cool projects are great, but any project in the professional world needs to have some value. This, as we heard during presentations today, is especially true with potential entrepreneurs. I found a couple of suggested points to keep in mind when considering this in an article here

1. Revenue generation from the new application
2. Cost reductions from the new application or upgrade
3. Indirect revenue generation
4. Increase in exiting user base due to some new features
5. Increase in market share
6. Revenue increase in companion application

It even explains why it might make sense to consider these when you're not directly involved with the selling and such. "Taking the business and value aspects into consideration during development enables you to view the project from the clients perspective. This in itself makes taking decisions regarding certain technical issues easier"

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