How Do You Ensure Product Development Success?

When 75-90% of newly launched products and services FAIL.

and just to make things more difficult

There is always someone, somewhere creating a product that will make your existing product obsolete  and obsolete it soon.

Trying to guarantee product development success is not a new problem.

Only 10% To 25% Of New Products Are Successful

Find out more about  CEOs views on why products fail.

Over the past decade the basic questions surrounding product development haven't changed substantially

Why do some of our new products succeed

and yet others fail?

How do we prevent new product development time

and cost overruns?

How do we prioritise competing product development efforts

and rewards?

How do we know what the customer wants

and how can we act on it?

How do we improve departmental and

market communications?

Okay there are some givens for a predictable product development process, the organisation needs to have capable, skilled people in the right function, and it needs to have direction, needs resources and effective management.

Yet over the years an array of product failures have come from companies that have traditionally been seen as having these core capabilities; house hold names, market leaders, Fortune 500 and FTSE 100.

These business all have sound operating processes, high manufacturing standards, strong supply chains, effective personnel management programs, innovation forums, but some of their latest and greatest offerings still missed the mark.

The Recipe for Success 

It's Not a Secret

but...  !

It's not a matter of scale the same basic questions are asked by small and medium sized enterprises where the financial imperative to delivery a successful product, on budget, on timescale can literally be the difference between the success and failure of the company!

The requirements of all businesses for repeatedly shows that a dependable product development process is independent of the company type, size and independent of the industry sector.

As I said at the outset the questions behind predictable product development haven't changed over the past decade.   It's not surprising then that the answers haven't changed fundamentally either.