Mary Drotar and Kathy Morrissey are recipients of the National Science Foundation (NSF) Innovation Corps (I-Corp) STEM Grant for their Product Risk Framework® (PRF) software tool. The program is held through the Polsky Center for Entrepreneurship and Innovation at the University of Chicago. It helps to empower UChicago scientists, researchers, students and alumni to test […]
Small batches will help you improve time to market, read the difference between the traditional and non-traditional approach to product development below. Traditional approach to product development (Batches of major activities) In a traditional phased-and-gated system, each phase is a batch of activities that has to be completed in order to produce a set of […]
What can you do while developing a product to maximize its chances of success?
Project risks come in many different forms, from those the project team anticipates to the ones they discover when an unexpected problem crops up. In product development, there are many sources because you interact with so many parts of the organization in order to commercialize the product. Learn how product development risk and project risk […]
A recent article in MIT Sloan Management Review, “Using Scenario Planning to Reshape Strategy,”[i] indicated a resurgence of scenario planning that initially gained recognition in the 1960s and 70s. Royal Dutch/Shell has been the ‘poster child’ of success using scenario planning to address the instability and uncertainty during the 1973 oil crisis. I was fortunate […]
Common Problem “Our product development projects take too long and they are always late. While everyone is busy, the project just doesn’t seem to get done. Tasks seem stuck at 90 percent (%) complete. The team has a project schedule, but only the project manager understands it.” Cause These are all symptoms of a project […]
Exploratory Product Development: Executive Version is the introduction to this new product development methodology. Download this approach to adaptable product development in a changing world.
Observation on Lack of Capacity A recent article in the Wall Street Journal (The Reason Southwest Stopped Overbooking), which contained excerpts from an interview with Southwest Airlines’ CEO Gary Kelly, brought out the need to address airline capacity issues on the ground and in the air. Responding to a question on the impact of lack […]
Even though product management is one of the most important positions within product development, it is often marginalized. The product management role is even more important in today’s turbulent environment. There are many types of change in the external environment that can impact product development by altering customer needs, introducing new technologies, and changing the […]
Is your product development process keeping you up at night? Has it become heavy, taking too much time? Are you sacrificing speed and innovation because it is too hard to get through the process? Current Problem In today’s business world, we frequently see larger or established companies buying new or smaller companies (fast growing) in […]
