Follow a New Product Development System

Following a New Product Development Process Saves Time, Money, and Perhaps Even Jobs

Developing new products is expensive.?

Not just the dollars that are spent but the huge amount of internal time it swallows up.?In spite of management enthusiasm, most products fail.?But this failure rate can be reduced simply by following a sound New Product Development system.?

?Perhaps the biggest error we see in developing new products is the lack of a process.?But if you don’t have one, don’t worry. Few firms have one.?But that is also an opportunity.?If few have a good process, think of how your organization can beat the competition by getting better and faster with developing new products.?

?A good process may not be what you think.?It is not a way to make all of your ideas successful.?In fact, a key component of the process is to quickly identify those ideas that should not be pursued.?We want to quickly abandon those poor opportunities to focus resources on those ideas that have a good probability of success.?A good process will help you recognize the difference.??

?So how do you manage those crazy ideas that sometimes come from senior management??[If you have been involved in new product development for any time, you no doubt have run across this]. If you are not brave enough to tell the senior leader what you really think, you can place their idea into the process and let the objective process reveal its opportunity.??

Click here to learn more benefits and to download our New Project Development System diagram. Our treat!