Augeo : Solutions for New Product Development & Innovation (NPDI)

 

New Products to Market


Managing projects that bring new products to market

Almost half of all new product projects fail to meet their profit objectives. New product concepts have a high rate of failure and improving the success rate of the related projects is a key challenge for management.

From concept to bringing a product to market, there are key strategic and numerous operational development and launch decisions to be made, implicating many different services of the company.

The generic process of launching a new product is relatively straight forward

Discovering new Opportunities - Initial Investigation – Business Case – Design and Development – Product testing and validation – Product release to Market

It is however in the detailed breakdown of activities within each process that the efficiencies will be obtained, and where methodologies like the Stage-Gate® processes are widely used.

Operational efficiency and launching products on time

Whether launching new products for competitive or for seasonal reasons, a key success factor is to launch the new product within the planned delivery timeline.

In addition to stringent planning requirements, the different departments involved with a new product launch have similar resource limitations and constraints. These departments regularly make use of external resources and even partially outsource certain operations.

Maintaining a competitive advantage

The commercial success of a new product launch is therefore very much related to the efficiency and effectiveness of the initial project selection and decision process.

Any gains from the increased efficiency of the conception and production of the new product cycle should not be lost by this important initial project selection and decision process.

For the right product to arrive on the market at the right time, the company needs to have a coherent decision making process through the whole product development life cycle. This decision making process should be as short as possible and include a risk analysis of each project to identify the best candidates.

Having a Clear Overview of your Projects Progress

When managing a portfolio of projects, the managers and stakeholders need a regular overview of the progress of each of the projects against the initial goals defined for each.

By following the quality checkpoints of each project, it enables management to follow the progress of the projects and ensures that they continue to follow within the company strategy. These checkpoints also serve as the point at which the decisions to terminate a project or not can be taken.

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