Your business has a formal process for product introduction and launching new products
 
The key to effective product introduction is to treat it as a project. A multi-disciplinary team should work to defined processes, using milestones that ensure critical tasks are complete at particular stages. This core business process must be owned by managers with seniority appropriate to the type of project being undertaken
Key Issues
·         You need to ensure that projects with little chance of commercial success are identified and stopped at an early stage of development
·         Project complexity
o     Projects should be classified depending upon their complexity, technical risk and level of investment needed to complete the work
o     The control of complex projects requires a broad set of business skills
o     Complex projects, exposing the company to significant risks and /or commit to high levels of funding and must be included in the business plan
o     Based on the project classifications, different processes should be used for running the projects
o     Progress on key, complex projects must be routinely reported to local managers with deliverables regularly monitored by the senior management team
·         The stages of a project should include
o      Design of the product and its manufacturing processes
o      Concept validation, to confirm the technologies are viable
o      Process implementation, including establishing the supply of materials
o      Manufacturing, providing support for the ramp-up to production volume
·         Project management:
o     All projects must be controlled by a project manager who ensures it remains on time, to budget and that deliverables are achieved at each milestone
o     Project managers must have a good relationship with customers, managing change requests and their expectations
o     Risk assessments must be undertaken at each stage to identify problems
o     Time scales and budgets must be challenging but achievable
o     Customers must not be allowed to initiate changes without senior managers assessing the commercial / technical impact and the cost to the business
·         Resource management:
o     Resources must be allocated for developing new technologies needed for future products and associated manufacturing requirements
o     Resources allocated to particular tasks must be available when needed
 
Factors for Success      
Factors to  Avoid
1.      People from all areas of the business becoming involved in projects
2.      Allocating some team members to be full time
3.      Instigating a good change control process to ensure everyone is alerted to and comfortable with changes
1.     Setting unrealistic time scales
2.     Starting projects which technically and/ or commercially are not feasible
3.     Trying to manage all development projects using the same process
Who does this apply to?
Senior Management teams, project managers and project teams.
Realisable Benefits
Lower costs for developing products, new products that are more cost effective to produce, enhanced reputation for innovation, all leading to increased sales

Guides:

Strategy and product innovationStrategy and product innovation

Strategy and product innovation

Identifying knowledge and technologiesIdentifying knowledge and technologies

Identifying knowledge and technologies

Product introduction processProduct introduction process

Product introduction process

Product and manufacturing designProduct and manufacturing design

Product and manufacturing design

Updating existing products and servicesUpdating existing products and services

Updating existing products and services

Product introduction programme measuresProduct introduction programme measures

Product introduction programme measures

Intellectual propertyIntellectual property

Intellectual property