What to Expect
In the Explore & Create segment of the ExPD process, Explore captures the concept of reducing risk through learning, while Create captures developing or transforming an idea into a final product.
Explore & Create consists of three major activities: Investigate (Chapter 5), Plan (Chapter 6), and Resolve (Chapter 7).
The input to Investigate is a chosen idea, which can be serendipitous or on a product roadmap. Serendipitous ideas often have more uncertainty and require more due diligence.
In this chapter, we describe the two major tracks within the Investigate process. In Track A, the most critical product idea uncertainties and risks are identified, evaluated, and prioritized. In Track B, the maturity of an idea is identified within the Idea Maturity Model (IMM), providing guidance on the activities that need to occur to advance the definition, design, and development of the new product.
Upon completion of Investigate, the cross-functional team has determined the maturity of the idea, and they have prioritized the most critical assumptions, including any dealbreakers. If the management team decides to proceed with the product idea, a project team is assigned to start the planning process.
Sample Content:
Download PDF Product Risk Framework
Related Resources:
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Other Resources:
C. Merle Crawford and C. Anthony DiBenedetto, New Products Management (New York: McGraw-Hill/Irwin, 2000)