Product Development Assessment
Overview: The Product Development Physical is a detailed look at the company’s existing product development process from an objective process driven viewpoint. Companies who focus on excelling in product development of products or services have a significantly higher success rate in the marketplace. Product development is the single most important function a business must perform. However, many manufacturers and service providers struggle to link business strategy with their product development process and operations. Yet a few standout companies have found ways to cross this divide and create robust and regular pipelines of successful products that drive superior business performance, growth, and profitability. During the product development physical we identify gaps and make recommendations for improving processes throughout the product development life cycle from ideation to production release. This recommendations will detail the steps required for optimizing the people, processes, and technologies required in successful product development processes. The physical will focus on these areas:
- Field Test
- Engineering Build
- Production Release
- Post production release audit
The detailed deliverables will enable senior executives to align and energize the organization behind key strategies, initiatives, and best practices to accelerate product development cycles, reduce waste, and improve collaboration.
Methods: We will use Group50’s milestone-based process for Managing Product Development (MPD) as a basis for conducting the Product Development assessment. We will also evaluate the company’s performance and capabilities based upon our extensive experience with Product Lifecycle Management (PLM) solutions.
- Data collection
- Review of key performance indicators
Deliverables: After the assessment, we will provide a detailed report of our findings, including:
- Prioritized list of critical product development objectives
- Concise report that identifies key process and capability gaps
- Detailed roadmap to fill the gaps essential to effective product development
- Applicability of Group50’s MPD process
- Applicability of PLM tools
The report will provide you the basis for developing on-going and sustainable continuous improvements in the company’s product development process.