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Product Development Phased Review Process Kevin Griggs

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Product Development Process Uncover customer and market opportunities Develop service and technology components Formulate features that address unmet needs Validate feasibility based on requirements Build business case to support the opportunity Determine which “needs” fit the strategic direction Discovery The process of searching for and identifying opportunity candidates. This phase discovers market needs and defines product features Development The process of converting specifications into tangible products or services. This phase results in a marketable product. Commercialization The process of consumer adoption. Introduction, training and product renewal are part of this phase. Execute product rollout plans Measure and monitor product success Develop product renewal or retirement plans Product Development & Management Association

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Why use a phased review process? <ul><li>A phased review – or gating - process stops projects from advancing in the development lifecycle with “ unstable product specifications . ” </li></ul><ul><li>Failure to effectively define the product before development is the major cause of product failure and launch delays. </li></ul><ul><li>Many projects move too far into the development process without serious scrutiny. “… Marginal projects that have advanced into the development lifecycle are much harder to kill …” </li></ul>Because it forces up-front homework… … and creates a funnel … not a tunnel.

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Product Management Phases Discover Enrich Idea Generation Discover Design Develop Launch Retire 0 1 2 3 4 OWNERS ACTIVITIES Product Marketing Product Management Business Sponsor Technology Product Marketing Product Management Technology Product Marketing Product Management Product Management Hi-level Product Features Product Assessment Business Impact Test Marketing Product Requirements Product Plan Resource Plan Proof of Concept Functional Specifications Operations Model Development & Test Release Plans Positioning and Training Plans Launch Planning Product Rollout Training Plan Execution Marketing Plan Execution Relationship Mgr Activities Decommission Assessment Cost / Benefit Analysis Transition Plan Timetable and Announcement Support Plan GO / NO GO DELIVERABLES <ul><li>Opportunity Assessment </li></ul><ul><li>Business Case </li></ul><ul><li>Proof of Concept </li></ul><ul><li>Completed Product </li></ul><ul><li>Global Rollout Plan </li></ul><ul><li>Global Launch Plan </li></ul><ul><li>Technology Release Plans </li></ul><ul><li>Launch Tracking Metrics </li></ul><ul><li>Product P&L </li></ul><ul><li>Decommission Plan </li></ul><ul><li>Cost Savings </li></ul>Launch Results Monitoring GO / NO GO GO / NO GO GO / NO GO GO / NO GO