Product developement
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4.pptxProduct life cycle
7 distinct steps
Conceive
Plan
Develop
Qualify
Launch
Deliver
Retire
Today’s focus
Product life cycle
7 distinct steps
Conceive
Creating new product or improving it and bringing enhancements to market
Deciding whether to invest further in developing an idea
Example(s)
Creating new product or improving it and bringing enhancements to market
iPod (when it came to the market in 2001)
Then enhancements (e.g. touch)
What are other examples?
Deciding whether to invest further in developing an idea
Virtual Reality’s application (in training)
Internet of things (e.g. home automation)
What are other examples?
Product life cycle
7 distinct steps
Conceive
Project initiation
Project planning
Project execution
Project control
Project closing
Requires you to brainstorm ideas
And, be a visionary
Product life cycle
7 distinct steps
Conceive
Project initiation
Project planning
Project execution
Project control
Project closing
Results in quality, profitability, time-to-market, efficiency
Application exercise – 25 min
Purpose: Experience the challenges at Conceive stage
YouTube™ is planning to upgrade next year in 2020. What should it do?
Break up the class into 5-6 teams. Assign 1 member as a product manager
Each team brainstorms ideas and answers the following questions:
What features should YouTube work on to add? (10 minutes)
Which of the ideas would be improvement over existing ones?
Which ones are new feature?
Ask for the product manager to report out (2 minutes each)
Each team reports:
Names of team members
Top 3 ideas
What went well with team and what did not
Applying project management to the front-end
Set objectives
Manage the scope
Manage the risk
Report the status
Set objectives
Define the success criteria
Apply SMART method to define the strategic goal
Recap: SMART from previous class
Scope Management: Market Trends
Sources: several
Sources:
http://www.cbinsights.com/blog/trends/artificial-intelligence-venture-capital
http://www.industrialinternetconsortium.org/
http://www.hdtvtest.co.uk/news/ps4-xbox-one-201309153327.htm
http://emma.intel.com:8089/Documents/14-03-04%20ABI%20Home%20Automation%20Subscription%20Pricing%20Models%20AN-1137.pdf
IMR Tablet Tracker Q1 2014, US/UK/PRC
http://www.forbes.com/sites/chancebarnett/2013/05/08/top-10-crowdfunding-sites-for-fundraising/ (top 2 sites)
VR crowd funding activity: Kickstarter 44 projects & Indiegogo 11 projects
AR crowd funding activity: Kickstarter 70 projects & Indiegogo 19 project
http://siliconangle.com/blog/2014/03/25/apples-top-patents-for-smart-home-tech-siri-beyond/?angle=silicon
http://emma.intel.com:8089/Documents/14-03-25%20ABI%20Wearables%20IoE%20and%20Connected%20Car%202014%20March.pptm
Single Smartphone device – phone, PDA, music player, camera, etc.
9
Scope management
Prioritize the ideas to keep the team focussed
Avoid “scope creep”: minimize the potential to move beyond the defined problem or area of opportunity
Risk management
Control/steer to minimize waste
Too much control can also cause creativity to stifle
Allow risks to be taken
Communication
Status report process: keep the communication open by keeping all the stakeholders involved and in sync
Engagement with project manager
Engage with project manager early so that when execution happens, there’s no learning curve
Overlap
Summary/Key Take-aways
True or False?
Conceive stage involves creating new product or improving it and bringing enhancements to market
Conceive stage involves deciding whether to invest further in developing an idea
Too much _______ can cause creativity to stifle
Engage with project manager early so that when execution happens, there’s no ________ ______
A well executed conceive stage results in _____, ______, ______ and ______
Questions?
Summary/Key Take-aways (Answers)
True or False?
Conceive stage involves creating new product or improving it and bringing enhancements to market (True)
Conceive stage involves deciding whether to invest further in developing an idea (True)
Too much control can cause creativity to stifle
Engage with project manager early so that when execution happens, there’s no learning curve
A well executed conceive stage results in quality, profitability, time-to-market and efficiency
