What is meant by Opportunity management?
The term "opportunity management" refers to the systematic process of identifying, evaluating, and capitalizing on opportunities that arise for a company. This can occur within the context of project management, risk management, or business development. The goal of opportunity management is to recognize positive developments early and strategically leverage them to gain competitive advantages and support the achievement of business objectives.
Typical Software Functions in the Area of "Opportunity Management":
- Opportunity Identification: Tools for detecting and recording potential opportunities based on market analysis, customer feedback, or internal data sources.
- Opportunity Evaluation: Assessment of identified opportunities regarding their potential and risk, often through the application of scoring models or SWOT analyses.
- Opportunity Prioritization: Automated or manual prioritization of opportunities to address the most important and promising ones first.
- Opportunity Monitoring: Continuous monitoring of the development of opportunities and the implementation of corresponding actions, including real-time dashboards and reports.
- Integration with CRM and ERP: Linking opportunities with CRM and ERP systems to ensure seamless execution of strategic actions in the operational process.
- Risk Assessment: Function for the parallel evaluation of risks associated with certain opportunities to ensure balanced opportunity-risk management.
