The average length of product development cycles is growing shorter. Effective new product development and introduction require the involvement of cross-functional teams representing every core function within the company. The success of a product launch is increasingly related to communication and the strength of the company’s New Product Development process. Most companies recognize time-to-market as one of the most important factors impacting profitability.
My approach is simple. I can help in the role of a process auditor and coach for your team to improve and make more efficient your New Product Development process, using a phase-gate process methodology.
Consider me a second set of eyes, or an insurance policy, to fill in the gaps and ensure that nothing important gets missed. With over 40 successful new product introductions, I can help you avoid critical mistakes, increase speed to market and dramatically improve your odds of success. You’ll get a much higher level of expertise, for far less than the cost of a full-time employee.
Developing your process, methodology, and metrics is an important first step. It starts by aligning all of the key elements, critical to a successful product launch. Here are just a few of the ways I can help streamline and improve your process:
The Phase–Gate Process is a popular methodology used for establishing and tracking an operational road map for moving a new project from conception new product launch. Phases are groupings of logical tasks, in this example Discovery, Project Scope, Building the Business Case, New Product Development, Product Testing and Validation, and Product Launch.
Advantages of the phase-gate model for product development include:
Improved Communication - The New Product Development (NPD) road map serves to quickly communicate the status of each approved New Product Development project, and acts as a blueprint for managing the New Product Development process to improve effectiveness and efficiency.
Objective Milestones and Deliverables - Gates provide specific, objective milestones and deliverables for the project, which must all be met prior to advancing to the next phase.
Quicker Project Evaluation – The phase-gate process and road map summary allow senior management and New Product Development teams to quickly identify problems and assess progress before the project's conclusion, to assure the product meets actual market requirements, cost and window of opportunity requirements, and bugs have been addressed prior to release. When using the phase-gate model on a large project, the model can help reduce complexity of what could be a large and limiting innovation process into a straightforward rule-based approach.
I can audit your existing New Product Development process and provide specific, actionable recommendations for process optimization and improvement.
● Improve Documentation
I can help develop templates for key deliverables, designed to meet your specific business goals and product development process (e.g. project management, schedule, gate review sign-off, etc.)
● Visibility and Communication
I provide insight into best practices for software, systems, procedures to ensure key New Product Development team members can see most recent revisions key documents, procedures, project priorities, schedules, etc.
Why are we doing this? What are the benefits to the organization? How does this all work? Who does what? What is expected of me? I provide training to key New Product Development team members understand improvements in the process.
I help the key responsible team members to develop Market Requirement Definitions, suggest new sources of information, help quantify and filter existing information into a meaningful business proposal that can be more easily evaluated and implemented.
● Continuous Process Improvement
As every process can be improved, I help define metrics for your New Product Development process which make sense, are easily measured, and fit with your overall business goals and direction, to allow you to improve the process and make it more efficient going forward.
PHASE 0: DISCOVERY
• Documenting Voice of Customer (VOC) input
PHASE 1: SCOPING
• Market research
• Formalized competitive analysis
• SWOT analysis
• Value proposition
• Market size and scope definition
• Product/project scalability
PHASE 2: BUILDING THE BUSINESS CASE
• Market Requirement Definition
• Executive Summary
• Product Definition & Specifications
• Manufacturing Requirements
• Commercial Requirements
• Product Reliability Requirements
• Key Markets and Applications
• Key Target Accounts
• Product Roadmap
• Key Assumptions
• Value Proposition
• Revenue Forecast
• Development Cost
• Business Risk
• Financial Analysis
PHASE 3: DEVELOPMENT
• Product Design and Development Planning
• Cross-Functional Team Meetings
• Roles and Responsibilities
• Project Tracking and Reporting
PHASE 4: TESTING AND VALIDATION
• In-house testing and validation
• Reliability testing
• Beta-Site Evaluation
• Transition to Manufacturing
PHASE 5: PRODUCT LAUNCH
• Core Value Proposition
• Marketing & Brand Strategy
• Competitive Response/Selling Strategy
• Sales and Service Training
• Promotional Strategy
• Pricing Strategy
• Distribution Strategy
Tim Edwards has more than 26 years of experience growing revenue and market share in technology-based businesses, with over 40 successful new product introductions.
After his start as a new product design engineer, earning several patents for innovative designs, Tim transitioned into sales and marketing of technology-based products in Geneva, the Pacific Rim and Santiago, Chile. He served as Managing Director for a startup technology company in Hartford, CT manufacturing laser systems. He’s held several senior level marketing positions working in multiple industries such as Medical Devices, Automotive and Semiconductor manufacturing—growing revenue and market share in each.
An engineering graduate of the University of Missouri, Tim did his post-graduate work at Washington University in St. Louis and Stanford, earning master's degrees in Marketing, Economics and Consumer Psychology. Tim is fluent in Spanish and now lives in San Jose, CA with his wife and three children.
To learn more, call:
Tel: +1 408 780 GROW
To download a free copy of "A Practical Guide to a Successful New Product Launch" click on the icon below: