The project focusses on gaining a better comprehension of the Mexican Social Space Game (SSG) market, and thus, ascertain the likelihood that an SSG can succeed in the country. In essence, SSGs are primarily designed to be played in social environments, including bars and restaurants. In essence, Mexico is a viable market for an SSG because the country is stable politically and economically. In essence, the economy is the 15th largest in the world in the world and 11th largest by purchasing power parity. Even after Mexico was affected by the Great Depression in the last decade, which contracted the GDP by 6%, the countrys central bank has predicted that the economy will grow by 3.3% in 2016. As such, Mexico is a viable country for establishing an SSG. IGT being a global gaming company that operates in more than 100 countries is interested in diversifying and expanding to new markets. IGT aims at introducing SSG in Mexico, and thus, it has contracted us to perform a market analysis project.
Therefore, the projects objective is to gather Mexican market information that will be able to assist IGT in its expansion endeavors. The projects aims is to evaluate the SSG market in Mexico, is market propensity, any possibility of cannibalization of popular games in the portfolio, as well as making an estimation of sales and revenues from such establishments. As such, these can be considered the deliverables for this project. In addition, the project intends to estimate participation of SSG as a total of the portfolio, assess competition and possible impact, as well as assessing player performance and how the SSG program can successfully work in the Mexican market.
The criterion of the IGTs project success is meeting these project deliverables. As such, adequate information for SSG in the market will be gathered. The information has to be very accurate so that IGT can successfully implement its SSG program in the Mexican market, and thus, promote its competitive advantage in the Latin America and Caribbean Marketing through geographical market expansion and diversification. The success of the program will guarantee ITG increased profitability. For the company to achieve this, this information gathering project has to be a success.
The project, however, encompasses various assumptions. Firstly, the political stability will not change and there will be no crises in next couple of years. In addition, the central bank projections are correct, and that the country will grow economically. Also, government policies banning SSG will not be implemented, and thus, all games shall be legal. In addition, the financial information presented by competitors, such as National Lottery and Pronosticos para la Asistencia Publica (PAP) is assumed to be accurate and truthful.
The risks involved include the possibility of conflicts between the project stakeholders, such as members of the project team, client, and the executive committee. Also, scope parameters may veer off the planned ones. For instance, the schedule might be impacted by time constraints, the budget might not be enough, or the scope creep might inflate the scope. Inappropriate change management might also prevent the successful completion of the project.
b. Contingency Planning
There are numerous risks involved in this project related to the triple constraints, time, cost, and scope. In essence, time can be inadequate. The budget might be inadequate, and scope creep might affect the project scope negatively. For this reason, there is need for a contingency plan. However, before coming up with a contingency plan, identification of the risks is paramount.
In the IGT project, conflicts, which are common in project management may arise. For this reason, there should be a contingency plan for it. As such, when the project team members cannot agree with each other or with the client, a plan to solve the conflict should be put in place. The contingency plan is coming up with a conflict resolution criteria where all conflicts can be brought to the table and mitigated amicably. The conflict through the resolution process will be controlled, and thus, the activities can go on uninterrupted. Secondly, budgetary allocation may not be enough to complete the project. This calls for additional funding. For this reason, to mitigate this risk, there needs to be an extra source of financing. In this type of risk, the client can provide the additional funding. For this reason, the contingency, in this case, should be asking for additional funds from the client or the bank if it is urgent.
Another risk that may arise in the IGT project is time inadequacy. The pre-planned schedule might not be enough. For this reason, to complete the project within the deadline, the project manager can develop a crash timetable where tasks can be done concurrently to ensure that the timespan for each milestone is upheld. As such, two tasks can be done at the same time or the timespan for subsequent activities can be reduced. Also, communication problems may arise during the project. Communication is an critical component of the project, and when it is not effective, it can lead to misunderstandings. The contingency that can be applied here is ensuring that the project manager has developed a communication plan that clearly shows the communication channels. In case the risk emerges, then the parties can refer to it, and therefore, mitigate it. In case a member does not understand the project requirements, there needs to be a process or channel that a project team member can use to seek clarification, such as an emergency call number or the project manager can provide a guide that can be used for future reference.
Lastly, in the IGT project, there is a risk that the client can change the deliverables of the project. As such, there needs to be a specific method to follow if the client does so. In this case, a change management plan is effective in such instances. The change management plan should show a clear procedure or steps to follow to avoid conflicts. Also, in case of any changes, the client, project manager, and the project team have to come up with a new and clear set of agreement. This should be a provision that should not be left in the plan.
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Project Description Overview. (2019, Sep 30). Retrieved from https://speedypaper.com/essays/project-description-overview
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