New Product be it a physical or digital product (regardless of industry sector) is categorized as:
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A company’s product portfolio has a direct impact on its operational excellence. Hence, improving product portfolio increases a company’s profitability, competitiveness, and growth.
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A profitable product portfolio is built on following four pillars:
A strategic selection and right mix of new products will determine a business’s profitability, growth and its resilience to thrive through difficult times. It will also determine the extent of success with business transformation of struggling companies. I have a four-part series on my blog about- How to build a profitable new product portfolio, you may check it out here.
- Company’s definition of a new product.
- Portfolio project management technique employed.
- Product development pathway.
- Marketing and Sales process's ability to gain market share.
A strategic selection and right mix of new products will determine a business’s profitability, growth and its resilience to thrive through difficult times. It will also determine the extent of success with business transformation of struggling companies. I have a four-part series on my blog about- How to build a profitable new product portfolio, you may check it out here.
Developer's Diary:Answers to frequently asked questions and chronic problems faced during product development.
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Here are notes from my R&D journal (Developer's Diary) that I am writing since I first began my career as a product development scientist. Also, included are my contribution snippets to LinkedIn Top Voice. Do check them out as you will find answers to some frequently asked questions and chronic problems faced during product development...
Your product development team is struggling. How can you collaborate to improve it?
To improve a struggling product development team, encourage open communication and sharing of ideas within the team. Strong relationship and mutual trust are vital for a team to be efficient and effective. Establish a constructive feedback mechanism, periodic team building and training sessions to enhance collaboration, skills, and productivity. Parallelly, do a quick root cause analysis investigation to find out reasons as to why the team is struggling. For e.g. is it regular or a one-off situation and fix the issue aptly. Also, applying QbD, Agile or Scrum techniques during the product development brings-in high productivity gains.
To improve a struggling product development team, encourage open communication and sharing of ideas within the team. Strong relationship and mutual trust are vital for a team to be efficient and effective. Establish a constructive feedback mechanism, periodic team building and training sessions to enhance collaboration, skills, and productivity. Parallelly, do a quick root cause analysis investigation to find out reasons as to why the team is struggling. For e.g. is it regular or a one-off situation and fix the issue aptly. Also, applying QbD, Agile or Scrum techniques during the product development brings-in high productivity gains.
What are the most effective ways to pitch ideas for revenue growth?
Some of the most effective ways to pitch ideas for revenue growth that I’ve found useful are-
Some of the most effective ways to pitch ideas for revenue growth that I’ve found useful are-
- Present clear, data-driven communication showcasing the idea’s value proposition and its alignment with the company’s goals & market trends.
- Highlight realistic financial projections (backed by strong market research & analysis), scalability and sustainability. Help stakeholders envision the idea’s success and growth potential.
- Tailor the pitch to the audience’s interest and concerns. Touch upon the idea’s potential risks (if any) and risk mitigation strategies.
- Keep the pitch short, simple, and engaging so stakeholders are excited about the proposed idea, and in fact want to know how fast it can be implemented.
How can you use trend analysis tools to develop products at different price points?
Trend analysis tools help product developers to understand market dynamics i.e. emerging market trends, consumer preferences data etc. which developers can use to incorporate customer preferences into their products. By analyzing consumer preferences and market demands, the trend analysis tools help developers to formulate products for different customer segments and diverse customer needs. This maximizes customer satisfaction and profitability. Also, this strategic approach helps developers in identifying lucrative market opportunities and adjusting product features and pricing accordingly.
Trend analysis tools help product developers to understand market dynamics i.e. emerging market trends, consumer preferences data etc. which developers can use to incorporate customer preferences into their products. By analyzing consumer preferences and market demands, the trend analysis tools help developers to formulate products for different customer segments and diverse customer needs. This maximizes customer satisfaction and profitability. Also, this strategic approach helps developers in identifying lucrative market opportunities and adjusting product features and pricing accordingly.
You’re struggling to create an engaging product demo. What tools can you use to make it more compelling?
To create an engaging demo, I would recommend preparing a visually appealing presentation using high quality graphics and animation tools. Design the demo immersive and crisp yet showcase the product’s features and benefits effectively. Keep the mood as a story telling and incorporate interactive elements such as augmented reality (AR) or virtual reality (VR) to improve engagement. Make sure to add customer testimonials, success stories, and real-life scenarios to enhance product’s relatability to potential consumers.
To create an engaging demo, I would recommend preparing a visually appealing presentation using high quality graphics and animation tools. Design the demo immersive and crisp yet showcase the product’s features and benefits effectively. Keep the mood as a story telling and incorporate interactive elements such as augmented reality (AR) or virtual reality (VR) to improve engagement. Make sure to add customer testimonials, success stories, and real-life scenarios to enhance product’s relatability to potential consumers.
What are the key steps in product development?
Product development is a systematic process that involves bringing a new product to the market or modifying an existing one. The key steps in product development typically include:
Each of these steps are interrelated. Therefore, success in product development requires careful designing of product strategy and its flawless execution. Equally important is to tweak the product, based on feedback and market dynamics.
Product development is a systematic process that involves bringing a new product to the market or modifying an existing one. The key steps in product development typically include:
- Idea Generation.
- Idea Screening and Voice of Customer.
- Concept Development and Testing.
- Business Analysis.
- Empathetic Product Design and Development.
- Prototype Testing.
- Market Testing.
- Commercialization.
- Launch.
- Post marketing surveillance and Feedback.
- Product Improvement (based on feedback).
Each of these steps are interrelated. Therefore, success in product development requires careful designing of product strategy and its flawless execution. Equally important is to tweak the product, based on feedback and market dynamics.
You're a product developer who's stuck on a problem. How can you become a better troubleshooter?
Use a methodical problem-solving approach when you face a problem during product development. Firstly, breakdown the issue into manageable parts and deep dive to find the root cause. Get perspectives, insights from everyone close to the issue and brainstorm to get potential solutions. Use trouble shooting aids such as diagnostic software, data visualization tools to analyze trends & pinpointing anomalies, simulation software for testing scenarios & solutions, collaboration platforms & documentation tools to help track issues & solutions. Also, checkout learnings from similar past problems. Engage in professional forums and ongoing training. Proactively keep up to date with technical knowledge especially new technologies, regulations, methodologies, innovations etc. so you can decide the best course of action for trouble shooting.
Use a methodical problem-solving approach when you face a problem during product development. Firstly, breakdown the issue into manageable parts and deep dive to find the root cause. Get perspectives, insights from everyone close to the issue and brainstorm to get potential solutions. Use trouble shooting aids such as diagnostic software, data visualization tools to analyze trends & pinpointing anomalies, simulation software for testing scenarios & solutions, collaboration platforms & documentation tools to help track issues & solutions. Also, checkout learnings from similar past problems. Engage in professional forums and ongoing training. Proactively keep up to date with technical knowledge especially new technologies, regulations, methodologies, innovations etc. so you can decide the best course of action for trouble shooting.
You’re creating user personas for your product. What questions should you ask?
When creating user personas for a product, it’s essential to research your users. That is, gather information such as user’s age, occupation, demographics, lifestyle, goals, needs etc. Understand what is it that they value in a product. How do they use similar products. How do they buy products. What motivates them to buy a product. What is their decision-making process. Segment this info to get insights into user’s challenges, pains, hopes, and wants. Create user personas for developing customer-centric products.
When creating user personas for a product, it’s essential to research your users. That is, gather information such as user’s age, occupation, demographics, lifestyle, goals, needs etc. Understand what is it that they value in a product. How do they use similar products. How do they buy products. What motivates them to buy a product. What is their decision-making process. Segment this info to get insights into user’s challenges, pains, hopes, and wants. Create user personas for developing customer-centric products.
How can artificial intelligence be used to manage the product launch process?
Artificial Intelligence (AI) can help in product launch process immensely. For instance-
Artificial Intelligence (AI) can help in product launch process immensely. For instance-
- By providing predictive analytics for consumer behavior & market trends enabling development of targeted marketing strategies, demand forecasting & manufacturing to optimize inventory levels.
- AI can automate repetitive tasks e.g. chatbots are used to provide 24x7 customer service. This can free launch experts to do more creative tasks for product marketing.
- AI based launch projects are run more efficiently.
- AI can gather real-time customer feedback which can then be used to iterate/ refine product development.
- AI can streamline supply chain management and even do at-the-door delivery, e.g. AI run self-driving cars are revolutionizing logistics & customer service!
What are effective ways to handle conflicts with team members from different cultures?
Effective ways to handle conflicts in a multi-cultural team involves a mix of high emotional intelligence, empathy & understanding of diverse perspectives, active listening, and maintaining a clear & open communication. Find root cause of the problem and a common ground for discussion. Involve a neutral mediator if needed. Having said that, I would encourage a proactive approach by fostering a culture of mutual respect, trust, transparency and collaboration. Encourage open dialogue and find ways to celebrate (together as a team) the fun as a result of diversity. Work becomes joy in a multicultural environment, and I say this from my first-hand experience!
Effective ways to handle conflicts in a multi-cultural team involves a mix of high emotional intelligence, empathy & understanding of diverse perspectives, active listening, and maintaining a clear & open communication. Find root cause of the problem and a common ground for discussion. Involve a neutral mediator if needed. Having said that, I would encourage a proactive approach by fostering a culture of mutual respect, trust, transparency and collaboration. Encourage open dialogue and find ways to celebrate (together as a team) the fun as a result of diversity. Work becomes joy in a multicultural environment, and I say this from my first-hand experience!
What are the most effective ways to communicate the value of stakeholder engagement to your project team?
There are multiple ways of communicating the value of stakeholder engagement to a project team but before that, it’s vital to note- Why such communications must be done. Few reasons are- better project outcomes since diverse perspectives, insights, risks, feedback etc. get included. And the project gets quick buy-in from stakeholders since their concerns are taken care of early-on. Also, it fosters a collaborative work spirit while handling projects. Coming to effective way of communication, then in my view, the best way to communicate is with data. Use data from previous projects where stakeholders were not engaged-in and when they were engaged. The ‘before’ and ‘after’ stakeholder engagement data graphics is an effective and scientific way of communication.
There are multiple ways of communicating the value of stakeholder engagement to a project team but before that, it’s vital to note- Why such communications must be done. Few reasons are- better project outcomes since diverse perspectives, insights, risks, feedback etc. get included. And the project gets quick buy-in from stakeholders since their concerns are taken care of early-on. Also, it fosters a collaborative work spirit while handling projects. Coming to effective way of communication, then in my view, the best way to communicate is with data. Use data from previous projects where stakeholders were not engaged-in and when they were engaged. The ‘before’ and ‘after’ stakeholder engagement data graphics is an effective and scientific way of communication.
What key features should you look for in a product optimization platform?
Some of the key features to look for in a product optimization platform are the platform’s capabilities towards helping you with your product optimization objectives. Its features viz. robustness, data security, advanced analytics, user-friendly interface, customization potential, integration ability with current systems, scalability, expandability to newer demands of workflows, cost-effectiveness etc. Another key feature is the platform’s compatibility to product’s lifecycle. For instance, will it be useful when new characteristics are introduced to your product. Moreover, training provided to potential users and a dependable after sales customer support provided by the platform’s developer/ vendor is key too.
Some of the key features to look for in a product optimization platform are the platform’s capabilities towards helping you with your product optimization objectives. Its features viz. robustness, data security, advanced analytics, user-friendly interface, customization potential, integration ability with current systems, scalability, expandability to newer demands of workflows, cost-effectiveness etc. Another key feature is the platform’s compatibility to product’s lifecycle. For instance, will it be useful when new characteristics are introduced to your product. Moreover, training provided to potential users and a dependable after sales customer support provided by the platform’s developer/ vendor is key too.
How can you communicate the potential return on investment of your product?
To communicate the potential ROI of your product focus on two points- What is the USP and who is the audience.
USP: Is the product getting launched first time in the world or first in market? Or increase profitability? Will it solve unmet needs of the customers? Or will it give price advantage to users etc. Use this info to highlight the ‘value’ your product will ring-in.
Audience: Communication must be tuned-in for the audience. Is the audience your company’s board, regulators, customers etc. Based on their interest, include appropriate content. Make sure that the data presented is complete, crisp, simple, and visually appealing. I’ve found stakeholders usually make up their mind in first fifteen minutes of the presentation, so be spot on!
To communicate the potential ROI of your product focus on two points- What is the USP and who is the audience.
USP: Is the product getting launched first time in the world or first in market? Or increase profitability? Will it solve unmet needs of the customers? Or will it give price advantage to users etc. Use this info to highlight the ‘value’ your product will ring-in.
Audience: Communication must be tuned-in for the audience. Is the audience your company’s board, regulators, customers etc. Based on their interest, include appropriate content. Make sure that the data presented is complete, crisp, simple, and visually appealing. I’ve found stakeholders usually make up their mind in first fifteen minutes of the presentation, so be spot on!
What do you do if your product development cycles are too slow due to ineffective collaboration?
To resolve slow product development cycles due to ineffective collaboration firstly lead by motivating the team. Have an open dialogue with your team to understand hidden issues and find out the root cause(s) for the bottlenecks. Encourage open communication and a feedback loop. Set team goals and team reward MBOs. Establish clear roles and responsibilities for all and foster a culture of continuous improvement. Invest in collaborative tools that support seamless teamwork and enhance productivity. Implement Agile or Scrum and QbD methodologies during product development to further accelerate development timelines.
To resolve slow product development cycles due to ineffective collaboration firstly lead by motivating the team. Have an open dialogue with your team to understand hidden issues and find out the root cause(s) for the bottlenecks. Encourage open communication and a feedback loop. Set team goals and team reward MBOs. Establish clear roles and responsibilities for all and foster a culture of continuous improvement. Invest in collaborative tools that support seamless teamwork and enhance productivity. Implement Agile or Scrum and QbD methodologies during product development to further accelerate development timelines.
How can you resolve conflicts with team members who have different levels on investments in a project?
To resolve conflicts among team members with varying investment levels in a project, define roles, responsibilities, expectations, and performance measurement standards for your team. Also, establish a clear, transparent, and two-way communication channel at your workplace. Encourage empathy and mutual understanding of perspectives. Find out root cause(s) of the conflict. Seek common grounds that align with project’s goals and the member’s interest. Facilitate mediation/ resolution thru training, counseling sessions, mentoring.
To resolve conflicts among team members with varying investment levels in a project, define roles, responsibilities, expectations, and performance measurement standards for your team. Also, establish a clear, transparent, and two-way communication channel at your workplace. Encourage empathy and mutual understanding of perspectives. Find out root cause(s) of the conflict. Seek common grounds that align with project’s goals and the member’s interest. Facilitate mediation/ resolution thru training, counseling sessions, mentoring.
What are some of the most common mistakes when assembling a product launch team?
I’ve found some of the most common mistakes when assembling a product launch team are poor team dynamics, disjointed communications and non-aligned with the business’s strategic vision. Many a times the team members are not aware of the purpose i.e. goals & strategies, don’t have clarity of each other’s roles and responsibilities and are inadequate to deal with changing circumstances. Also, a product launch team’s skill diversity is a boon; but if it is in-cohesive, that can be a huge mistake and it will affect the product launch success in a big way.
I’ve found some of the most common mistakes when assembling a product launch team are poor team dynamics, disjointed communications and non-aligned with the business’s strategic vision. Many a times the team members are not aware of the purpose i.e. goals & strategies, don’t have clarity of each other’s roles and responsibilities and are inadequate to deal with changing circumstances. Also, a product launch team’s skill diversity is a boon; but if it is in-cohesive, that can be a huge mistake and it will affect the product launch success in a big way.
What are different ways to effectively track R&D expenses?
I’ve used following ways to effectively track R&D expenses:
I’ve used following ways to effectively track R&D expenses:
- Implement a dedicated accounting system for R&D. Budget for each project. Categorize expenses e.g. research, development, testing, materials, training etc.
- Leverage technology. Use digital tools that provide real-time data on budget consumption, variances etc.
- Train employees to bring awareness for precise & responsible expense reporting.
- Review accounts monthly/ quarterly. Identify trends, scope creep, areas needing attention/ improvement. This helps in course correction.
- Conduct periodic audits and benchmark analysis. Compare your data Vs industry standards. This gives crucial insights for strategically increasing the R&D’s operational excellence.
What do you do if you want to leverage reverse mentorship in product development?
To leverage reverse mentorship in product development, it is a combination of multiple to-dos namely-
To leverage reverse mentorship in product development, it is a combination of multiple to-dos namely-
- Build a culture of continuous learning and development at your workplace. Also, it is important to inculcate a habit of teamwork with ‘shared learning’ as its driving force.
- Make sure your organizational culture supports mutual respect and open dialogue between people regardless of their location on the corporate ladder. People must feel ‘valued’ only then they are open with their thoughts. Initiate a program or a huddle scrum board which inspires the juniors to share ideas, opinions, suggestions.
- Encourage new hires, interns, students, junior members of your team to share fresh perspectives & innovative ideas and ensure actionable insights are integrated into product strategies.
How can user research be more representative of the target market?
To make user research more representative of the target market, I suggest following steps-
To make user research more representative of the target market, I suggest following steps-
- Meticulously select a group of participants who mirrors diverse characteristics of the market viz. demographics, age, gender, location, cultural background, socioeconomic status etc. Make sure that there is no bias while selecting the study group.
- Use a mix of research methodologies viz. surveys, interviews, focus groups, observational studies to holistically understand user needs and behaviors.
- Do continual assessment and adjust the research approach to include emerging trends and changes in market dynamics. Make sure that the study is relevant and reflects the targets market’s evolving needs and preferences.
How does consumer behavior influence product development trends?
Products earn good revenues when they’re developed based on market research; be it surveys, spending habits pattern, feedback etc. together it becomes voice of customer (VOC) data. Developers can use this data to introduce features (into their products) that are likable to potential consumers. This in turn ensures quick product acceptance by consumers, higher sales, and profitability. As consumer preferences change, developers can refine/ align their product to stay relevant. Another big influence of consumer behavior is on fostering innovation. Developers can visualize the needs of consumers and give them a product even before consumers themselves realized their wants!
Products earn good revenues when they’re developed based on market research; be it surveys, spending habits pattern, feedback etc. together it becomes voice of customer (VOC) data. Developers can use this data to introduce features (into their products) that are likable to potential consumers. This in turn ensures quick product acceptance by consumers, higher sales, and profitability. As consumer preferences change, developers can refine/ align their product to stay relevant. Another big influence of consumer behavior is on fostering innovation. Developers can visualize the needs of consumers and give them a product even before consumers themselves realized their wants!
What does a prototype specialist do?
A prototype specialist designs and develops initial models of new products. He/she is the creative expert who turns ideas into tangible prototypes. Depending on the type i.e. physical product or a software, the specialist works with various materials to identify the optimal material of construction. The penultimate prototype is then used for pilot studies to test feasibility & get customer feedback. The specialist then refines the prototype accordingly. This final prototype i.e. proof-of-concept prototype can now be scaled-up for manufacturing and market launch. Design thinking, TRIZ, DFSS, Hoshin are some of the most beneficial tools prototype specialists can use to improve productivity and give a new product the desired competitive edge.
A prototype specialist designs and develops initial models of new products. He/she is the creative expert who turns ideas into tangible prototypes. Depending on the type i.e. physical product or a software, the specialist works with various materials to identify the optimal material of construction. The penultimate prototype is then used for pilot studies to test feasibility & get customer feedback. The specialist then refines the prototype accordingly. This final prototype i.e. proof-of-concept prototype can now be scaled-up for manufacturing and market launch. Design thinking, TRIZ, DFSS, Hoshin are some of the most beneficial tools prototype specialists can use to improve productivity and give a new product the desired competitive edge.
How can you align product R&D with your brand identity?
To align product R&D with your brand identity, begin by- defining your brand core and getting insights from your potential consumers. Defining your brand core: Define what your brand stands for example, its values, mission, USP i.e. value proposition. Plan your R&D efforts based on these core values. Make sure that your product is in sync with brand identity. Get insights from potential consumers: Gather information about your potential customers i.e. voice of customer such as, their needs, wants, preferences etc. Build your product features to include information from VOC data. Also, align your product design with your brand identity.
To align product R&D with your brand identity, begin by- defining your brand core and getting insights from your potential consumers. Defining your brand core: Define what your brand stands for example, its values, mission, USP i.e. value proposition. Plan your R&D efforts based on these core values. Make sure that your product is in sync with brand identity. Get insights from potential consumers: Gather information about your potential customers i.e. voice of customer such as, their needs, wants, preferences etc. Build your product features to include information from VOC data. Also, align your product design with your brand identity.
What is the best way to design for configurability?
The best way to design for configurability is to create systems with modularity that allows users to easily customize or adjust features according to their specific needs. Incorporate user-friendly interfaces for easy customization and ensure robust documentation supports users in tailoring the system without requiring deep technical knowledge. Moreover, keep an optimal balance between flexibility and user accessibility.
The best way to design for configurability is to create systems with modularity that allows users to easily customize or adjust features according to their specific needs. Incorporate user-friendly interfaces for easy customization and ensure robust documentation supports users in tailoring the system without requiring deep technical knowledge. Moreover, keep an optimal balance between flexibility and user accessibility.
How can you ensure that your product optimization metrics and KPIs are not biased?
To ensure optimization metrics and KPIs are not biased, conduct rigorous testing across multiple and diverse user segments. Also, conduct audits regularly and engage multiple stakeholders to create and review them. Based on user and stakeholder feedback, continuously update them. Incorporating such wide array of perspectives into the metric design process captures a holistic view of product performance. Additionally, using statistical methods for identifying and correcting for biases is very helpful. It also reduces reliance on potentially skewed data.
To ensure optimization metrics and KPIs are not biased, conduct rigorous testing across multiple and diverse user segments. Also, conduct audits regularly and engage multiple stakeholders to create and review them. Based on user and stakeholder feedback, continuously update them. Incorporating such wide array of perspectives into the metric design process captures a holistic view of product performance. Additionally, using statistical methods for identifying and correcting for biases is very helpful. It also reduces reliance on potentially skewed data.
How can you create a memorable product launch event?
Creating a memorable product launch event hinges on delivering an experience that emotionally resonates with your potential customers. Hence, plan the event with high EQ so as to match the needs of your customer persona. Integrate interactive elements into the event and leverage storytelling to highlight the product’s USP. And incorporate immersive technology to captivate the audience. Make the event not just informative, but also an unforgettable experience.
Creating a memorable product launch event hinges on delivering an experience that emotionally resonates with your potential customers. Hence, plan the event with high EQ so as to match the needs of your customer persona. Integrate interactive elements into the event and leverage storytelling to highlight the product’s USP. And incorporate immersive technology to captivate the audience. Make the event not just informative, but also an unforgettable experience.
How can you use trend forecasting to develop responsive travel products?
Trend forecasting helps in developing travel products in multiple ways. By decoding trends, product developers can understand travel preferences and interests. They can anticipate shifts in consumer behaviors, budgeting, and spending patterns. Also, they can decipher what interests and motivates consumers while selecting products for e.g. do they want to go to warmer climates? Do they want eco-friendly travel options? Does green travel interest them? etc. By analyzing trends and leveraging technology, companies can create innovative and flexible travel products that appeal to both current and future travelers. In addition, it helps the companies to stay ahead in a fiercely competitive market.
Trend forecasting helps in developing travel products in multiple ways. By decoding trends, product developers can understand travel preferences and interests. They can anticipate shifts in consumer behaviors, budgeting, and spending patterns. Also, they can decipher what interests and motivates consumers while selecting products for e.g. do they want to go to warmer climates? Do they want eco-friendly travel options? Does green travel interest them? etc. By analyzing trends and leveraging technology, companies can create innovative and flexible travel products that appeal to both current and future travelers. In addition, it helps the companies to stay ahead in a fiercely competitive market.
What should you consider while looking for the best product testing software for your team?
While looking for the best product testing software consider:
While looking for the best product testing software consider:
- Build URS. Outline a set of evaluation criteria viz. Software’s performance, features & functionalities, Compatibility & integration capability with existing systems, Scalability, Ability to support various types & tools of testing, its approval status by regulators who issue marketing authorization to your product, Ease of use, Learning curve, its reporting features, user feedback options, Cost-effectiveness etc.
- Vendor Assessment viz. does vendor provide user training for your team? How good is the after sales service?
- Comparative Analysis: Evaluate different software options against the above criteria & score them. Select the software with the highest score.
Your team is behind on product development. What technology can you use to catch up?
To catch up on lagging product development, leverage use of technology at various facets of product development activity. Use-
To catch up on lagging product development, leverage use of technology at various facets of product development activity. Use-
- Agile, Scrum, QbD, DOE, PAT, Monte Carlo simulations, Design Thinking, TRIZ based software for rapid prototyping & testing.
- Electronic notebooks and cloud-based document management systems for data inputting & storage. This improves collaboration within team members working at-site and remote. Also, data storage & retrieval are quick.
- Utilize niche software for materials management. If company has already implemented ERP- Supply Chain module, then optimally leverage it at R&D site.
- RACI, Kanban based software for project management. This improves task management, communication and real-time project tracking.
How do you become a prototype manager?
To become a prototype manager, one needs a combination of skills such as-
To become a prototype manager, one needs a combination of skills such as-
- Competent technical knowledge around the prototype(s) to be developed.
- A continuous learning and self-development mindset.
- Design thinking & creativity skills.
- Innovation management capability.
- Good grasp of patent laws, use of AI for product development etc.
- High emotional intelligence for building an empathetic product that can be readily accepted by consumers.
- Good people skills and an ability to work with a cross-functional team for end-to-end completion of the product development project.
- Propensity to engage with stakeholders, regulators (if any).
- Above all, a ‘can-do’ spirit.
How can you customize the Stage-Gate innovation framework for your company?
To customize Stage-Gate innovation framework, align it with your company’s goals, resources, and product portfolio. Integrate it with your market’s needs, regulations (if any), work culture, technological capabilities, and idea management process.
Define scope of each stage and toll (i.e. metrics of measurement) of the gate. Tailor the scope and metrics of each stage and respective gate of the framework, so that it supports your business’s strategic objectives/ milestones and risk tolerance levels.
Customize the framework and update it periodically to ensure that it not only guides innovation management effectively but also keeps it relevant to market dynamics & evolving business needs. And essentially keep it aligned with your corporate ethos.
To customize Stage-Gate innovation framework, align it with your company’s goals, resources, and product portfolio. Integrate it with your market’s needs, regulations (if any), work culture, technological capabilities, and idea management process.
Define scope of each stage and toll (i.e. metrics of measurement) of the gate. Tailor the scope and metrics of each stage and respective gate of the framework, so that it supports your business’s strategic objectives/ milestones and risk tolerance levels.
Customize the framework and update it periodically to ensure that it not only guides innovation management effectively but also keeps it relevant to market dynamics & evolving business needs. And essentially keep it aligned with your corporate ethos.
Your project is running behind schedule. How can you get it back on track?
R&D leaders often face such situations several times during their career. And many a times the fault is not of your department (i.e. R&D). But as a R&D leader you have the responsibility to deliver product on time and within the approved budget. So how to go about fixing such issues?
To get a delayed project back on track, at the outset keep your self-talk positive. That is, don't jump to conclusions and start blaming yourself or likely others in the organization for the delay. Keep a positive mindset with a 'Can-do' spirit and matters will start spinning positively! Also. mostly in such circumstances we witness stakeholder tempers going ballistic. Though it is unpleasant to deal with remember they're human too, so maintain a very high emotional intelligence in such times. First find out the root cause(s) of the delay. Conduct a structured root cause analysis. Depending on the complexity of the issue, root cause analysis can take from few hours to few days. You may do it yourself or hire an external operational excellence consultant. But make sure the investigation is authentic and unbiased.
There could be one or more root cause(s) as to why the project got delayed. Once the cause(s) are known, have a heart-to-heart talk with your team (of people from R&D and other relevant functions) so that together you can brainstorm and come up with best solutions to resolve issues at the soonest. In case the root cause analysis is expected to take time, then simultaneous to the on-going investigation, re-balance resources to focus on the critical path activities and streamline processes to improve efficiency. Note that you must do a course-correction once root cause investigation is completed.
Make sure to have realistic deadlines in the new project plan but keep the final project delivery date the same as was agreed at the outset (if possible). Have a chat with heads of other functions, stakeholders and keep them in the feedback loop. Always remember success with projects can’t be achieved by one individual, it is a collaborative effort of many!
R&D leaders often face such situations several times during their career. And many a times the fault is not of your department (i.e. R&D). But as a R&D leader you have the responsibility to deliver product on time and within the approved budget. So how to go about fixing such issues?
To get a delayed project back on track, at the outset keep your self-talk positive. That is, don't jump to conclusions and start blaming yourself or likely others in the organization for the delay. Keep a positive mindset with a 'Can-do' spirit and matters will start spinning positively! Also. mostly in such circumstances we witness stakeholder tempers going ballistic. Though it is unpleasant to deal with remember they're human too, so maintain a very high emotional intelligence in such times. First find out the root cause(s) of the delay. Conduct a structured root cause analysis. Depending on the complexity of the issue, root cause analysis can take from few hours to few days. You may do it yourself or hire an external operational excellence consultant. But make sure the investigation is authentic and unbiased.
There could be one or more root cause(s) as to why the project got delayed. Once the cause(s) are known, have a heart-to-heart talk with your team (of people from R&D and other relevant functions) so that together you can brainstorm and come up with best solutions to resolve issues at the soonest. In case the root cause analysis is expected to take time, then simultaneous to the on-going investigation, re-balance resources to focus on the critical path activities and streamline processes to improve efficiency. Note that you must do a course-correction once root cause investigation is completed.
Make sure to have realistic deadlines in the new project plan but keep the final project delivery date the same as was agreed at the outset (if possible). Have a chat with heads of other functions, stakeholders and keep them in the feedback loop. Always remember success with projects can’t be achieved by one individual, it is a collaborative effort of many!
How can you demonstrate your cross-functional leadership?
I’ve found a bunch of skills very important here. For example-
I’ve found a bunch of skills very important here. For example-
- High emotional intelligence and very good bonding with peers from other departments. Encourage give-n-take of ideas on how to enrich cross-functional collaboration.
- Integrity & quality are key. Trustful and transparent communication across teams.
- Empower team members and motivate them to develop products faster and better.
- Strategic planning, good resource management & feedback loop.
- Lead by example. Update yourself to advances in technology & industry trends. Help colleagues to adapt to change.
- Effectively resolve conflicts.
- Recognize contributions, build team synergy and celebrate wins.
How can you improve product development performance with peer evaluation?
Some of the effective ways of improving product development performance with peer evaluation involves-
Some of the effective ways of improving product development performance with peer evaluation involves-
- Building a cross-functional & collaborative work culture.
- Leveraging technology: Use digital tools to facilitate easy sharing of work, learnings, feedback.
- Establishing structured review systems and training employees to offer constructive feedback.
- Encouraging diverse perspectives, accountability, and transparency in the review process and feedback loop.
- Integrating the feedback into the product development cycle and measuring the impact of peer evaluation using metrics such as time-to-market, quality, customer satisfaction, team satisfaction, revenue earned.