The most fundamental challenge in product development is uncertainty—including the risk it creates and the potential for loss. Changes in factors beyond our control tend to happen too quickly and unexpectedly for our product development systems to cope. This paper discusses the state of product development (PD) processes and presents “Exploratory PD® ” (ExPD) as an alternative approach to the traditional phased-and-gated processes. ExPD is better suited for today’s complex and dynamic environment.
ExPD is an adaptive approach that explicitly identifies and drives down the risk that can result in product failure. By organizing activities focused on resolving the most important risks, it readily adapts to the nuances of each project, while improving time to market.
Download our new white paper, An Adaptive Approach to Product Development: Exploratory PD®.
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