Product Development

Delivering quality products to market faster and at less cost than your competitors gives you the ultimate edge.

Product Development is a robust, scaleable and agile method and toolkit to speed development, and minimise the cost of taking a proposition to market.

It introduces the concept of the 'Manufacturing Runway' to combine the sets of disciplines related to proposition, technology and infrastructure creation into one unified, synchronised, end-to-end development lifecycle, powered by best practice project management.

It can be applied to both new product development and product enhancement to significantly shorten the development lifecycle.

Benefits

  • Reduces time-to-market of quality products
  • Diminishes the cost of creating products
  • Saves cost by terminating 'no-hoper' propositions early
  • Creates a realistic budget, timeline and delivery deadline at the outset so there are fewer surprises
  • Enables more propositions to be advanced concurrently without overwhelming available resources
  • Creates greater clarity for everyone involved, helping people to engage more effectively in the process
  • Makes tacit knowledge explicit to reduce dependence on individuals
  • Reuses intellectual assets to save time, money and improve quality
  • Avoids the 'price of non-conformance'
  • Reduces the risk of expensive oversights and omissions
  • Minimises the risk of duplicated activity and wasted effort
  • Optimises the utilisation of scarce resources
  • Reduces risk of product defects and failures
  • Increases the probability of realising planned benefits from launched products.

    • Features

  • Easily adapted to the size and complexity of the proposition
  • 'No-hoper' propositions are terminated early
  • Viable propositions are accelerated through to successful delivery
  • A common process and language is used by all internal and external suppliers
  • Clarity of purpose is communicated to all domains supplying or impacted by proposition development
  • Intellectual assets are indexed, stored and made available for re-use
  • Internal and external subject matter experts are able to dispense their knowledge to greater effect
  • Testing and proving is applied rigorously and consistently to proposition, infrastructure and system creation.

    • How does it work?

    Product Development picks up from the point where you have:

  • Composed and specified your value proposition
  • Decided your target sectors
  • Conducted market research
  • Decided the distribution channels.
    • Everyone involved in development, distribution and operation, including external partners, get to understand their specific role and responsibilities, and where and when they fit into the lifecycle.

    Your business analysts lead from the outset in the conceptual requirements process, system and process design and business case preparation. The business case for each proposition is validated through a Value Management process and the design matched to your target operating model.

    Each development is led by a capable Project Leader, who is focussed on delivery. The Project Leader is partnered by a Proposition Designer, focussed on product excellence and quality.

    Development routes, deliverables and quality standards are selected by the involved functions, including Marketing, IT and Operations, from pre-defined, best practice route maps, according to the scale and scope of the proposition. The involvement of people from impacted functions is indicated at each step of the journey as are target durations.

    During development, reusable intellectual assets are selected and applied at each stage to save time and money.

    Successful Project Management™ methodology is applied pragmatically along with measured risk taking to meet quality standards and delivery deadlines.

    What we do

    Our practitioners work with your proposition designers and subject matter experts to tailor and calibrate the method and toolkit to the specific requirements and unique aspects of your business. We:

  • Licence the method and toolkit materials to you
  • Transfer knowledge and know-how to you as we work together
  • Help to embed the disciplines by working with you on the first few projects
  • Train and partner your project leaders to pass on skills and behaviours until they are confident of success
  • Establish a capability for you to continuously improve the method and toolkit without external support.
    • Manufacturing Runway


    What our clients say…

    "When we started talking about this project and the timescales involved, there were a lot of rumblings around "We can't do it that fast". I was told that we've never launched a product in under nine months before. This time we have done it in three and a half. I have seen great examples of people working together, considering the risks involved and taking them and using the knowledge and information we've already got to shape something new. Everyone involved has pulled together to make this happen. The launch has proven just how much we can achieve when we break some of the rules."
    Managing Director, Insurance Company

    Please contact us at Verdandi to obtain further information.

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