A systematic approach to product development success. An amalgamation of best practices from several practical and successful frameworks and methodologies.
30. Proportion of resources devoted to winners vs. losers vs. killed projects(c) 2010 Shardul Mehta 4
31. Critical Success Factors Senior management has made the necessary resource commitment, and kept it Have a superior, differentiated product that delivers unique benefits and better value to customers Right organizational structure, design and climate Leverage core competencies – synergy with the base business and its strengths are vital to success; “step-out” projects tend to fail more often Market attractiveness is a key criterion for project selection and prioritization Speed is everything! But not at the expense of quality of execution! (c) 2010 Shardul Mehta 5
32. Identifies a market problem Quantifies the opportunity to make sure it’s big enough to generate a profit Articulates the problem & opportunity to the rest of the organization Executives: business rationale for pursuing, including financial forecasts and risk assessment Development, in the form of market requirements Marketing Communications, using positioning documents, one for each buyer type Empowers sales effort by defining a sales process, supported by requisite sales tools so customer can choose the right products and options While other departments are focused on this release, this campaign, this deal, this customer, product management is a strategic role focused on what products and markets the organization can serve in the years to come Strategic Role of Product Management If you don’t want to be market-driven, you don’t need Product Management (c) 2010 Shardul Mehta 6
52. Role of Senior Management Best performing companies have senior managements that: Are strongly committed to new products and product development Embrace a long-term commitment to product development, beyond a 1-year horizon Ensure development portfolio contains a certain proportion of long-term and platform projects – not just quick, one-year hits Develop a vision, objectives and a strategy for new product efforts driven by (and linked to) the corporate objectives and strategy Install a systematic, high-quality new product process in the organization, and practice discipline, following the principles of the process Commit the necessary resources to achieve the firm’s new product goals Are closely involved in the project Go/Kill and new product spending decisions Have a central role in the new product review process and in resource allocation decisions Foster innovation in the organization Support, reward and recognize new product efforts Empower project teams Support committed champions: act as godfathers, sponsors or executive champions for major new product projects (c) 2010 Shardul Mehta 8
53. “Product Leadership: Creating and Launching Superior New Products” by Robert C. Cooper, ISBN: 0738201561 http://www.amazon.com/Product-Leadership-Creating-Launching-Superior/dp/B000B86FPK/ref=sr_1_1?ie=UTF8&s=books&qid=1265259676&sr=8-1 “Developing a Product Innovation and Technology Strategy for Your Business” by Robert C. Cooper http://www.stage-gate.com/knowledge.php “Make Your New Product Process Agile and Adaptable with Spiral Development” by Robert C. Cooper http://www.stage-gate.com/knowledge.php “The Strategic Role of Product Management” by Steve Johnson http://www.pragmaticmarketing.com/strategic-role-of-product-management Pragmatic Marketing Framework http://www.pragmaticmarketing.com/pragmatic-marketing-framework “Product Management: The Conscience of Every Product Company” by ZigZag Marketing http://www.zigzagmarketing.com/product-management-conscience-of-every-product-company.html “Getting Real” by 37signals.com http://gettingreal.37signals.com/ “Top 10 Product Launch Mistakes” by 280 Group http://www.280group.com/whitepapers.htm#launch “The Three Dimensions of Product Launch” by David Daniels http://www.pragmaticmarketing.com/publications/magazine/7/2/goals-readiness-and-constraints-the-three-dimensions-of-product-launch “Where Does Product Management Belong in an Organization?” by Steve Johnson http://www.pragmaticmarketing.com/publications/topics/07/where-does-product-management-belong-in-the-organization Sources, References (c) 2010 Shardul Mehta 9