Market and Competitive Risk in Global Project Management

Market risks are influenced by competitive risks. Technical risks give impact on individual project progressing. We are here to introduce how to manage market and competitive risks to make the profit. The problem is we cannot control the market and the competitive risks. Take risks smart and change risks to opportunities.

Gathering information is the most important factor to win competitors in our market place. Get better market information than competitors. If you want to get information on your competitor’s and it may be necessary to spy on your competitors. Analyze the collecting information whether its issue or risk. Classify quantitative and qualitative risk. Prioritize the risks. Making marketing strategic options. Appropriate Timing? Suitable Cost? Matured? Target Age? Change Strategies,  Investment (M&A),  Political and regulative action,  Head hunting,  Change the target The key way to deal with the market and competitive risk is to be able to change the strategy.

Stay focused on the result of the project to make the profit, so monitor these risks. Take risks smart and change risks to opportunities.

Questions and Answers. Why is best to finish a project first? To make a profit it is most important to be first. For example Toyota Prius entered the market first. But there is also opportunity in the second to market. For example in Japan IBM is known as watching the market and being the second to enter the market. What does take a Risk Smart mean? We don’t need to take all the risks, we need to prioritize and focus on the important risks in the market.

Market and Competitive Risk in Global Project Management from Robert Higgins on Vimeo.