Product Development Management
Product development management is the process of developing a product. The product development management process aims to develop a product that is user-friendly and easy to manage. The methodology follows short iterations. The concept-building stage includes budget and scope planning, communication, risk prediction, and market research. The management stage focuses on the creation of the product, tracks all tasks, and analyzes the project’s quality and costs. It is an essential part of the product development process and should be applied from the initial concept-stage stages.
Stage-gate
Using the Stage-Gate model helps to accelerate time-to-market performance and increase profitability. The process helps to identify big ideas and refine them for the market, giving a clear direction for in-market success. The faster the product reaches the market, the more sales it can generate. The process also allows for a faster decision-making cycle and can help create a pipeline of innovative products. The Stage-Gate model requires collaboration across the organization and cross-functional leadership.
VPDM
Virtual prototyping and design-for-manufacturing systems (VPDM) help engineering teams keep track of their CAD, CAM, and CAE models, while also keeping contextual data about the products. The system also enables engineers to view a product’s entire 3D configuration and virtual space to better understand its design and observe the effect of design changes. The benefits of VPDM for product development management are obvious.
Pie
The process of product development management is often called iterative. During a sprint, a small team of people will come together to identify and discuss targeted features and defects. The sprint maybe for one week or two. Pie combines the agile method with process management, using a board called a “Pie Board” to define unknown work. The Board can be updated as a product is developed, which helps teams keep track of work and prevent wasting time.
Canny
One of the most helpful features of Canny product development management is its ability to track common objections that people have about your product. Whether it is price or lack of a certain feature, you can use Canny to counter these objections. In the end, you’ll have a stronger sales pitch and a better chance of closing the sale. Bench Accounting started using Canny to track customer feedback and found it useful for many other uses, including tracking issues like missing help articles or weak responses to pricing objections.
Pendo
Pendo is a tool for product development management that works across multiple teams. Pendo product managers leverage agile principles to plan and execute software development features. They communicate dependencies and user insight across various teams to make sure that the product team can deliver software that users love. Pendo was founded by former product managers who wanted to make product development easier for companies and their employees. Pendo’s product management tool can be used by anyone from a newbie to a senior product manager.
SG
The rigor of SG for new product projects is undermined by the “everything is optional” philosophy. While SG is a framework that provides a high level of consistency and transparency, individual decision-makers and personal approaches are still at the heart of decisions. In this article, we’ll explore the differences between the two models and their pros and cons. We’ll also examine the benefits of SG for new product development and what’s next.
PMI
A paper recently presented at the Global Congress of Project Management Institute (PMI) in Bangkok, Thailand, identified some similarities between PMI and product development management. Product development and project management are closely related, but there are important differences. The upstream process involves understanding customer requirements and developing a concept that meets them. This phase also includes the validation of requirements, which helps to arrive at a final solution before the design process begins. During the design phase, minor changes are made to the product design to meet market requirements. Finally, after the design phase, the product design is released to the market.
Loveability
How does one improve liveability in a product? In product development, loveability refers to the amount of energy a person expends while using a product. It is not simply a matter of improving its efficiency, effectiveness, and error rate, but also its magic moment’. This moment occurs when the person’s energy level changes during the use of a product, indicating that the customer has had a good experience with it.
