Maximizing Product Development Value
by Jim Brown, Tech Clarity
Realizing Value from New Products and Portfolios
It's the typical scenario again. The project that started with such high expectations has gradually slipped into the same category as the others—mediocre at best. The team begins second-guessing. Was this the right project to pursue in the first place? Why didn't we see the unexpected problems earlier? Could we have avoided the problems if we focused on them earlier? Could we have avoided investing so much time and money on this project? What other projects did we pass over for this—and was one of them the real gem? How can we have failed when we overcame the most challenging hurdles with flying colors—did we focus on the wrong problems? Management begins second-guessing as well. Where did the project value go? Were the initial projections merely hype? Was there real potential value that managed to slip away? Everybody wants to know why there are so many questions—but so few answers.
PLM processes and software tools offer significant improvements to the development and introduction of new products. Updated design technology has collapsed development times, reduced product costs and improved product quality. New collaboration platforms have improved design processes, streamlined the handoff to manufacturing and increased project efficiency. Another category of PLM tools—Product Portfolio Management—has begun to streamline portfolio management and new product development processes. The use of these portfolio and project management tools has resulted in more efficient and effective introduction of product innovations to the market. In most cases, however, they have not delivered breakthrough improvements in portfolio value. Recent discussions with leading product development leaders point to a new, emerging approach to Portfolio Management.
|
