The goal of product development is to create a “recipe” for producing a product[i], a final result that is sold to customers. The recipe for a tangible product would specify the ingredients, the materials and components to be used. The steps of the recipe use specific amounts of ingredients with specific methods requiring certain labor, […]
Do you ask yourself this question…’Am I a mad scientist*?’ when your project has doubled in cost, the feature set is stripped beyond recognition, and it no longer meets original customer requirements since they’ve changed numerous times during the project? And to top it all off, you’re experimenting and trying to solve an important problem […]
Client question: Do we get better product ideas from internal professionals, such as engineers, designers, marketers and product management, or from external sources? (Poetz and Schreier 2012) (1) , reviewed past academic literature and conducted a study to answer this very question. Arguments range from “A truly creative product idea is outside the scope of […]
Mary Drotar and Kathy Morrissey are recipients of the National Science Foundation (NSF) Innovation Corps (I-Corp) STEM Grant for their Business Fit Framework® (BFF) software tool. The program is held through the Polsky Center for Entrepreneurship and Innovation at the University of Chicago. It helps to empower UChicago scientists, researchers, students and alumni to test […]
It’s time to change the way we think about product development. This is a must read blog post, by Mary Drotar of Strategy 2 Market, published on the MENG website.
Small batches will help you improve time to market, read the difference between the traditional and non-traditional approach to product development below. Traditional approach to product development (Batches of major activities) In a traditional phased-and-gated system, each phase is a batch of activities that has to be completed in order to produce a set of […]
Exploratory Product Development: Adaptable Product Development in a Changing World The first publication in the book series Exploratory PD® is now available Exploratory Product Development: Executive Version is the introduction to this new product development methodology. It will be followed later this year by two volumes that provide more detail, plus supporting tools and techniques. […]