Cheat sheet / definitions for the multiple personalities of risk terminology.
As a marketer, it is imperative to reduce any uncertainty customers may feel about buying your product. Customer uncertainty can take the form of needing more information, not having enough experience with your product, or not enough evidence to assure them that it will perform as desired. Customer uncertainty contributes to indecision on trying or purchasing your product. There are different avenues that a marketer can take in order to reduce this uncertainty…
Do you feel like a mad scientist when your project has morphed from $12M to $24M, the feature set is stripped beyond recognition, and it no longer meets original customer requirements since they’ve changed numerous times during the project?
One of the defining characteristics of product development is making decisions and judgments, in the face of uncertainty. Exploratory Product Development (ExPD) is based on the premise of reducing risks and uncertainty. We’re defining uncertainty as having imperfect or limited knowledge about something, resulting in the potential for surprise or unpredictability in the future. You’ll […]
Does your strategy handle the uncertainty and complexity of today’s markets?
In product development, as in a professional kitchen, experimentation and exploration are integral to creating a new recipe. It’s hard to predict what will happen so the product development process has to adapt.
“Too much paperwork!” is the one of the most common and most passionate complaints we hear from our clients. The project team loathes creating it and the decision-makers loathe reading it. They don’t see the value. Yet typical product development processes requires voluminous documentation. Why so much paperwork? 1st… to make sure nothing is overlooked,
When we work with medical device companies we find that the Risk Management File (required by regulatory bodies and specific to user and patient safety) is integrated into the product development process. However, project risk is often ignored or is a one-off risk exercise that is rarely revisited throughout the project. If you don’t manage […]
Our firm was brought into a company that encountered product development process issues. Some of the symptoms included missing delivery dates, missing organic growth revenue goals and just general dissatisfaction with the overall process from the perspective of executive management and the project team members. One of the many gate meetings we attended illustrates the potential inefficiencies of […]
Are you too late? Part of ‘In the trenches of new product development’ series We commonly see our clients postpone risk identification when it is way too late in the project. We are huge fans of hitting risk head-on in the earliest phases of new product development. Why? Here are 4 great reasons: 1. Identifying […]
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