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WHAT IS PRODUCT ANALYSIS ? |

PROJECT MANAGEMENT
JULY 13, 2018 (HTTPS://PROVENTURESINDIA.COM/BLOG/PRODUCTANALYSIS/) | 1 COMMENT
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Product Analysis

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Product Analysis for projects that have a product as a deliverable, it is a tool to define scope that
generally means asking questions about a product and forming answers to describe the use,
characteristics, and other relevant aspects of what is going to be built or manufactured.

Where Applied?
Within the PMBOK® Guide, Product Analysis technique is used in the following processes:

PROCESSES KNOWLEDGE AREA PROCESS GROUPS

Define Scope Project Scope Management Planning

DEFINE SCOPE
Product analysis can be used to define products and services. It includes asking questions about a
product or service and forming answers to describe the use, characteristics, and other relevant aspects
of what is going to be delivered. Each application area has one or more generally accepted methods for
translating high-level product or service descriptions into meaningful deliverable’s. Requirements are
captured at a high level and decomposed to the level of detail needed to design the final product.
Examples of product analysis techniques include but are not limited to:

Product breakdown
Requirements analysis
Systems analysis
Systems engineering
Value analysis and
Value engineering.

Product Breakdown
Product breakdown structure (PBS) is a tool for analyzing, documenting and communicating the
outcomes of a project, and forms part of the product-based planning technique. The PBS provides “an
exhaustive, hierarchical tree structure of deliverables (physical, functional or conceptual) that make up
the project, arranged in a whole-part relationship”. This diagrammatic representation of project
outputs provides a clear and unambiguous statement of what the project is to deliver.

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 Product Breakdown Structure in Product Analysis

Requirements Analysis
Requirements analysis encompasses those tasks that go into determining the needs or conditions to
meet for a new or altered product or project, taking account of the possibly conflicting requirements of
the various stakeholders, analyzing, documenting, validating and managing requirements.
Requirements analysis is critical to the success or failure of any project. The requirements should be
documented, actionable, measurable, testable, traceable, related to identified business needs or
opportunities, and defined to a level of detail sufficient for further planning.

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 Requirements Analysis in Product Analysis

Systems Analysis
System analysis is the process of studying a procedure or business to identify its goals and purposes
and create systems and procedures that will achieve them in an efficient way”. Another view sees
system analysis as a problem-solving technique that breaks down a system into its component pieces
for studying how well those component parts work and interact to accomplish their purpose. System
analysis relates closely to requirements analysis or to operations research. It is also “an explicit formal
inquiry carried out to help a decision maker identify a better course of action and make a better
decision than he might otherwise have made.

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Systems Analysis in Product Analysis

Systems Engineering
Systems engineering is a field of engineering and engineering management that focuses on how to
design and manage complex systems over their life cycles. At its core, systems engineering utilizes
systems thinking principles to organize this body of knowledge. Issues such as requirements
engineering, reliability, logistics, coordination of different teams, testing and evaluation, maintainability
and many other disciplines necessary for successful system development, design, implementation, and
ultimate decommission become more difficult when dealing with large or complex projects. Systems
engineering deals with work-processes, optimization methods, and risk management tools in these
projects.

Value Analysis
Systematic analysis  identifies and selects the best value alternatives for designs, materials, processes,
and systems. It proceeds by repeatedly asking “can the cost of this item or this step be reduced or
eliminated, without diminishing the effectiveness, required quality, or customer satisfaction?

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 Value Analysis in Product Analysis

Value Engineering
Value engineering (VE) is a systematic method to improve the “value” of goods or products and services
by using an examination of function. Value, as defined, is the ratio of function to cost. Value can
therefore be altered by either improving the function or reducing the cost. It is a primary tenet of value
engineering that basic functions be preserved and not be reduced because of pursuing value
improvements.

References:
PMBOK® GUIDE SIXTH EDITION

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