Monday, December 2, 2013

NPD : idea generation and project scorecard

How many products should we launch to get a commercial success ? Many statistics exist on failures and successes related to the launch of new products.

According to Robert Cooper of the Product Development Institute (2001 data), 48% of new products fail due to an inadequate assessment of the market.

According to Deloitte Consulting (1998 data), some causes of project failure are due to:
  • Unrealistic objectives: 65%
  • Weaknesses in project management : 54%
  • Definition of project scope : 43%
  • Lack of cross vision : 41%

When you develop new products, it is important to select the best ideas and the best projects. For this, beCPG provides project management that drives the development of new products, from idea generation to product launch on the market.

Each phase of the project is validated by a review of project to eliminate non-strategic / risky projects with phase-gate.

Here are some phases we can have when developing new products:

Phase gate of new product development
Phase gate of new product development

Idea generation

Idea generation enables brainstorming. Ideas are grouped by lists (Change requests, product improvements, customer requests ...). Each member can add its ideas and votes.

Idea generation
Idea generation

Marketing analysis

Marketing analysis is often composed of several tasks, for example:
  • Requirements gathering
  • Market analysis
  • Evaluate concepts
  • Regulatory assessments

This phase evaluates the project and validates the launch of the product design.

At the end of this phase, the project has:
  • Screening completed with answers to questions
  • Deliverables to provide are defined
  • Planning proposal
Project screening
Project screening

Project planning
Project planning
Each project is evaluated so it's easy to compare them in order to select the best projects and cancel projects that don't fit the business strategy, that are unprofitable or too difficult to achieve.
Project comparison
Project comparison

We will see in a future post the next phases:
  • Project design
  • Prototype
  • Industrialization
  • Product Launch

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