Model of construction project development to meet market products

I. About the product-market fit.

Investment and development of construction projects is a complex process, influenced by many factors and organizations.
The construction project operating apparatus is equally complex.
Optimizing this apparatus to create good quality products that meet market requirements, bring business value, and create a brand for the project developer is the common goal of most companies.
However, in practice achieving that goal is not as smooth as the theory.

When I was unemployed, at home surfing the web reading information here and there, I was fortunate to approach and learn with an excellent knowledge called:
“Product-Market fit” development model.
This model emphasizes that when you produce a commercial product, be it: a shirt, a phone, a building or a yacht, etc., that product all has the same core thing as “products for sale. “.
When sold on the market, that product needs to meet the requirements and rules of the market.

Three key points to note in this model:
– UsP  =  Pain point.
– User ><  Buyer.
– Market size.
Buyers and users have different needs, especially for investment real estate construction products.
Determining the product’s user characteristics and salient features that meet the customer segment’s needs contributes significantly to the project’s success.

II. Overview of construction project development

The organization of the production apparatus to optimize products to meet the market is to build a market product development model.
And when applied flexibly in the development of construction projects, this model overcomes the shortcomings of the old model.

According to my observations, for the organization and operation of a company:
The BOD will create the playing field and the rules of the game. So that the game’s controls are suitable for the size of the playing field they have, offset their strengths and weaknesses, and have good development ability.
The project management board will be the organization of the team playing according to the set rules of the game.
Therefore, for companies with different “playgrounds” and “rules of the game,” the project development model is also different.
Managers who understand the model that their company is operating like their position in the system will have more effective management; Design Manager is the same.

Currently, most project development companies are popular according to 2 main models:
01. The central project development model is BOD.
02. Project development model according to the market mechanism.

Main features of these two models:

01. With the central project development model as BOD:

The BOD approves all of the organizational thinking and directs direction from the President / BOD on important decisions. The only centralized information point from the BOD.
This is risky because the company creates a product to sell. Still, the effect may NOT be researched from the market, and the operation of the apparatus is subjectively dependent on the BOD.
At least, there is no objectivity or early criticism from market factors.
In the course of my work, I have encountered a few projects that can’t sell and have to be redesigned from the beginning, which is costly and wastes a lot of time…

02. For the model of project development under the market mechanism:

BOD plays the role of initial Orientation, determining the project model based on market research results.
The factors of scale, capital flow, product characteristics, etc., are considered in different segments and subdivisions.
The project development department will be responsible for the product according to the approved criteria/structure.
Project operation is decentralized and responsible for each production stage.
With basic designs, the project director & design director need to protect the BOD about the product that meets the Orientation to create value for the project… If it is not approved, then deploy it or redo it.

Which method of project development is, of course, appropriate for each specific company and project.
I only introduce and provide information about the main points of this model for readers to consider.

III. Model of construction project development to meet market products

The construction project development model that meets market requirements is described as a pyramid consisting of 11 indispensable steps, as shown below.
This model can be applied to the pre-feasibility study and the project implementation phase.

1. Identify the target market.
2. Identify customer segments.
3. Shaping the group of potential customers.
4. Clarifying user characteristics. (Sometimes buyers and product users are different.)
5. Identify the core need/problem of the market for this requirement.
6. Competitive Value (USP).
7. Identify target products based on (5) & (6).
8. Shaping how products & utilities (facilities) will evolve.
9. Review the budget to ensure feasibility & profitability.
10. Prototyping implementation (Morkup unit).
11. Mass construction.

Steps 1~3 are the project-oriented step defined by the BOD and market research department.
From step 4 onwards, the less the BOD interferes with the profession, the better.
The project implementation department needs to understand factors such as the Orientation of customers and product users, core needs, and competitive value of products/projects…
But the most important thing is understanding and implementing steps from (7)~(11).
The construction project implementation will have a lot of smaller steps, the way may be different, but the most important is to meet the stated steps/requirements.
Avoid overlapping, out-of-order implementation, or focusing on small details that lose the identified advantages that need to be promoted.
Architectural design management in a construction project is about ensuring the product meets the market requirements identified in the design task and optimizing the development to get the most out of it—the product’s selling point.