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BCG® Matrix
With the BCG Matrix template, map and analyze your product portfolio as a team to prioritize action items. Share all your ideas on your whiteboard: determine the key data, compare it, and hold live polls and discussions to position your business activities on the matrix. Straight away, you can see whether your portfolio is balanced, and make the right decisions for the rest of your project management. A truly collaborative strategic analysis tool!
In all project or business management, at some point you will need to analyze your product portfolio as a team to find out, for example, how to allocate your company’s resources between its different business units, or which ones to invest in and which ones to discontinue. The BCG Matrix, created by the Boston Consulting Group, helps you prioritize actions and make strategic decisions as a team.
Together on your whiteboard, determine the position of each of the company’s products according to market growth, revenue generated and their competitive advantages. Then, compare this data to visually identify the various strategic business units that are profitable or not and new units that require significant investment.
The result? With the BCG matrix, you can see whether your product portfolio is balanced, to prioritize your strategic objectives more efficiently.
Compared to other marketing matrices, the BCG matrix has several advantages. Companies can use it to analyze both the position of the company in the market and the position of its products or services, which are issues that come up sooner or later during project management.
It can also be used to make decisions about the company's resource allocation based on established facts rather than projections. This can make your meetings easier and improve teamwork when different departments are working in a cross-functional way on the same product or service.
Finally, it helps you allocate the right resources to the right products or services and the right markets, to increase your market penetration and diversification.
Start by inviting your team members to your whiteboard. Together, list all the business units and products you will be looking at. Review them according to 3 criteria: life cycle, sales and competition.
To indicate the level of competition, add a higher or lower number in Dimensions, which are custom fields at the bottom of an idea.
Now, start brainstorming to compare all this data. Decide together where to position each business unit on the matrix within the two axes:
The two axes create 4 quadrants that each represent a different type of product or business:
To decide together whether to invest in a product or discontinue a business unit, ask yourself questions under the relevant ideas using the Question tool. All your team members have to do is double click on the Question to respond, and the results will appear automatically on the whiteboard. A surefire way to boost your project management!
With Templates, innovate in the management of your projects, represent them visually and move forward as a team in a synchronized manner