Write a report on Tech Mahindra Growth Factories.
Tech Mahindra Growth Factories is a public limited non-governmental organization that was incorporated in the year 2015. It provides software publishing, consulting and supply services to corporate. Software publishing includes development, distribution and documentation of software. Consultancy involves development of new software based on client requirements. The company is has developed a campaign management platform that is used by its customers for managing their promotion and sales leads. The services provided by this platform include IVR, SMS, Emails, and social networking through other platforms like Facebook, Google and LinkedIn. The company is currently facing a lot of competition from other players in the campaign management software publishing. Some of these competitors include Knowlarity, ACL wireless, Netcore Solutions, and Route-mobile. To be able to sustain this competition, the company aims to improve its current campaign management system after studying the needs and options in the market for which the company has planned to study the existing competing software and explore them to identify features and functionalities that can be added in the Tech Mahindra’s propriety campaign management software to enhance its value for customers.
The project aims to help Tech Mahindra identify possible new features for its campaign management system such that developmental gaps can be filled and the value of their software can be enhanced For this, the project would involve exploration of other competing campaign management software and identification of the features that can be useful for the customers of Tech Mahindra such that are added in the software for its enhancement. With the incorporation of additional features in the software published by the company, it aims to improve its position in the market and increase its market share.
The project involves study of current campaign Management systems that are competing with the tech Mahindra product in the market and development of a new scope and functionalities for the enhancement of its software based on this analysis. For this, the project would need preparation of a comprehensive report involving comparison of the competing campaign management platforms on the basis of parameters like features, functionalities, industry requirements, and business models. The report would also come up with the recommendations on new features and functionalities for the current software of Tech Mahindra and identification of the new technology advances in the area of digital media marketing and analysis of their impacts on the market and users.
Based on this report, an implementation plan for a new campaign manager would be made. A revised business requirements document would be created for guiding this new development further, the USP of the new product would be identified based on which a Go To Market strategy would be planned
The company is facing severe competition from other companies in the campaign management space and to be able to compete or increase the market share of its products in the market, it needs to bring enhanced software that comes with more advanced and desired features so that a greater market can be captured. For this, the company aims to develop a new campaign management platform that would save both time and cost for the customer as well as provide additional functionalities and features. This way, the company would be able to dominate the market which would get the company more sales and thereby more revenues.
With the launch of an advanced software that has been developed after consideration of all competition products as well as new market developments, the company is likely to improve its image as well as the market share of the product which would bring the strategic benefit to the company with enhanced positioning and brand capacities. The company would be able to beat competition and dominate the market in the campaign management space.
The objectives of this project include:
The project involves development of a new campaign management software that has the following high level requirements:
|
Requirement |
Description |
|
Development of a single promotional tool for management of all third party services to save time |
The software that is proposed for development must have a capability to integrate with all the third party campaign management tools |
|
SaaS based licensing for saving cost |
The software would be provided on a SaaS based licence such that the client does not have a need to procure the infrastructure for hosting |
|
Identification of the improvements and functionalities for the beta version of new software |
The current software features would be studied to identify scope for improvement and the other competing software would be explored to identify scope for addition of new functionalities in the software for the development of the beta version of the software |
|
Competition analysis report |
Development of the report that compares different available solutions in the market to identify desirable features of the software |
|
Identification of opportunities for new advancements |
New technological advances in the campaign management space would be studied to identify the scope for improvement or incorporation of features in the current campaign management system of the company |
|
Revision of business requirement document |
Development of a revised BRD document with functionalities and improvements suggested for the scope for development of the new campaign management software. |
|
Identifying Go To Market Strategy |
Defining USP of the new software and development of the Go To Market strategic plan based on the same (Project Management Institute , 2000). |
Deliverables of this project include:
The following would be included in the project:
The project would not include the following:
Milestones
|
Executive Milestones |
Estimated Completion Date |
|
Development of comparison report on competing products Development of report on latest advances in the campaign management technologies |
10th Sept 2017 |
|
Assessment of explored features and technologies and selection of those appropriate for the development of the new campaign management software Development of recommendations for inclusion of new features and improvements in current features for the new software Approval of the new recommendations for development |
20th Sept 2017 |
|
Development of a revised business requirement document for the development of the new and improved campaign management software for tech Mahindra |
30th Oct 2017 |
|
Identification of the USP and development of the Go To Market strategic plan based on the same |
5th Nov 2017 |
Tech Mahindra business accounts would be providing the funds required for this project.
The total budget that would be approved for this project would include this cost of project execution plus an additional 10% as the contingency money so the total cost of the project would be $35,200 (WSDOT, 2015).
Alternative to the analysis of the market competition and development of the new software based on that would be increased marketing for the promotion of the current software in the market to strengthen its positioning. However, the current software was developed a few years back and many of the features may not remain powerful for today’s scneario. Moreover, with increasing competition and technologies advances, the company risks lose of customers if better products are made available in the market by competition. Thus, this alternative does not suit the business goal of the company which is to enhance its market dominance into the campaign management software space.
Assumptions
The project is based on certain assumptions such as:
Constraints
The project also has certain constraints such as
Risks
The project involving development of reports, requirements document and the Go to Market plan can also have certain risks but these risks can be responded to in the following ways:
|
Risk |
Response Plan |
|
The software features chosen are not appreciated by the users |
The comparison and analysis would not just included the features of the competing software but the reviews given by the customers on those features would also be studied to ensure that the chosen features are important for customers so that the software gets acceptance easily after launch |
|
There could be delays in the development of the BRD |
The delays could be introduced due to several reasons such as lack of staff or delays in approvals from the top management. In case of unavailability of the staff, new staff would be allotted the work and in the case of the delays in approved, the management would push the higher authority to take out time for review of the software requirement document so that the development can begin. |
|
Project Exceeds the budget |
A project plan document would be prepared before the project is started and the project activities would be monitored against it to ensure that there are no deviations from the plan and in case, there are chances of deviations then immediate action would be taken to reduce expenses or take additional approvals from the top management if necessary. |
Roles and Responsibilities
|
Project Role |
Project Responsibilities |
|
Project Sponsor |
Tech Mahindra is the project sponsor who would be responsible for reviewing the project in terms of business potential, approving the budget and providing funds required for the development of reports, development plans, and strategic plans. Project sponsor would be approving the budget for the development of the software. |
|
Project Manager |
The project manager would be a person from within the company who would be responsible for planning, executing, monitoring and controlling the project. The project manager would ensure that the project has sufficient capital and human resources and all the activities decided in the plan are executed as per the plan and within budget during its execution. The project manager would keep monitoring the project and would review its progress as well as provide the review to the top management from time to time. |
|
Analyst |
An analyst would be involved for collecting the data on the competition software and preparing a comparison report for the same |
|
Requirement Manager |
Requirement manager would be studying the recommendation report for the incorporation of the features and improvements in the software and would create a business requirements document which would be revised for the development of the improved campaign management software |
|
Top Management |
Top management would be involved in approving the development plan as well as identifying the USP to decide on the Go To Market Strategy |
|
Marketing Manager |
The marketing manager of the company would be involved in the development of a plan for the Go TO Market strategy execution (Pearson, 2000). |
The internal stakeholders of the project include:
Project Sponsor: The project sponsor is interested in getting the returns on the investments made in any project and thus, the reports must state the commercial benefits that would be achieved with the project and the development of the new product for the company.
Project Manager: Project manager would be mainly responsible for planning, executing, monitoring and controlling the entire project and thus, he or she must have the information about the entire project including its development requirements, the resources involved, budgets, and progress. The project manager would virtually lead the entire project like its owner and would be accountable for ensuring that all its deliverables are met.
Tech Mahindra Staff: The staff would be involved in collection of data, its analysis, development of the document, marketing the developed software as well as marketing it. The developed software should have features that look more promising to the customers such that the sales and marketing staff find it easier to promote product and deal with the customers. Also, they should have the knowledge about all the features and improvements done in the new software to be able o sell it or plan marketing for it.
Software Developers: Developers would be involved in the actual development of the software and thus, the information about the plans for improvement or addition of the features in the software must be communicated to them. Their feedbacks may also be taken while planning the feature development of the software to understand technical challenges and finding solutions.
The external stakeholders of the project include:
Customers: The customers would be the ultimate users of the campaign management software that would be developed and thus, it is important that they are satisfied with the features added and the improvements made. Thus, their views are important to be considered while selecting the features and improvements for development. Thus, before the final document for development of the software would be approved, the feedback would be taken from some of the potential users to ensure that all their needs are sufficiently met.
Competitors: As the projects aims to develop new software that can compete in the market and gain the dominant position, the competition would be negatively affected. In such a case, it is important the decisions about the development of the new software remain confidential and do not reach the competition as they can come up with counter strategies to beat tech Mahindra in the market even before the launch of the new software.
Resellers or channel partners: The resellers of the company would be interested in selling the product of tech Mahindra and they would prefer the same for selling, if they are able to gain more profits and are able to easily convince their customers of the benefits for easy sale. Development of most advance and sophisticated features as well as assurance of saving in the time and cost would give the advantage to the customer and the same would also benefit the channel partners in selling. These partners should be communicated clearly about the new features and improvements so that it becomes easy for them to sell the product post its launch.
References
Bright Hub Media. (2015). Constructing Powerful Scope Statements. Retrieved from Bright Hub Project Management: https://www.brighthubpm.com/project-planning/57950-example-and-evaluation-of-project-scope-statements/
Pearson. (2000). Basic Skills for Project Managers. Pearson Education.
Project Management Institute . (2000). A guide to the Project Management Book of Knowledge . Project Management Institute .
WSDOT. (2015). Cost Estimating Manual for Projects . Washington State Department of Transportation.
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