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LR NYU Fall 2007 Business Operations New Product Development Process.

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Presentation on theme: "LR NYU Fall 2007 Business Operations New Product Development Process."— Presentation transcript:

1 LR NYU Fall 2007 Business Operations New Product Development Process

2 Pacific DataVision Confidential Our vision : Enable our business partners to capitalize on the simplicity of voice communication Enhance technology platforms Improve the efficiency and lifestyle of the mobile community Our mission : To be recognized as the leader in wireless dictation and documentation services Increase productivity of field-based workers Improve the lifestyle of consumers Enabling clear, fast communication without the need for typing or writing. Our Company Vision & Mission

3 Pacific DataVision Confidential Weaknesses of current process Minimal # of successful projects presented to the Board Too many ideas mentioned from all departments No area to display or individual handling the collection of ideas Lack of focus Lack of resources Undefined employee responsibilities Undefined project timelines Not enough upfront homework Poor quality of execution

4 Pacific DataVision Confidential Identify new opportunities for the company Create consistency Establish more efficient processes Define end user needs Detect failures earlier Define and manage employee responsibilities Establish cross-functional teams and parallel processing Improve teamwork Improve success rate Dedicate 30% of Business Operations efforts towards development of new ideas To launch new products/ projects every two months Exceed Executive and Board requests Less Rework/ Recycling Create an Action Plan every time Shorten completion time Higher level of quality and execution Business Operation’s Goals

5 Pacific DataVision Confidential Post Launch Review Product Development Stages Discovery Gate 1 Gate 2Gate 3Gate 4Gate 5Launch Scoping Build Business Case Deve - lopment Testing This process will be used to operationally move from an idea to launch Our risk will decreases along the process We will define cross functional teams prior to gate 1 entry We will identity the new project/ product criteria before the idea screen begins

6 Pacific DataVision Confidential These items are defined in advance What the project leader and team will bring to the meeting Research/ Reports/ Data/ Other information The criteria will be based on a score card from the team Must-meet criteria All must be ‘Yes’ (i.e. Does the project meet our business strategy?) Should-meet criteria (desirable) Decision time! Go/Kill/Hold/Recycle Action Plan People required, cost involved, person-days involved, time line List of deliverables and date for the next gate Structure of Each Gate Deliverables Criteria Outputs

7 Pacific DataVision Confidential Stage Structure Criteria for the next gate is identified Gather information to progress to the next stage Each stage cost more than the next stage Parallel activities resume from stage to stage Cross functional teams are involved throughout each stage Action plan Outputs Criteria

8 Pacific DataVision Confidential Discovery - Our Idea Bank All internal sources will submit ideas using SkyMail Ideas from external sources forwarded to an internal folder which will be posted on SharePoint Employees/ Sales Force Customers/ Call Reports/ Care Carriers/ Vendors Existing Products/ Company Reports Industry/ Surveys/ Web Searches Trade Shows/ Trade Journals Magazines/ Books Competition/ Friends/ Consultants

9 Pacific DataVision Confidential Idea Screen – Gate 1 Deliverables Ideas “Must-meet” Criteria Does the idea follow our company goals? Does it meet our objectives? Does the product follow company policy? Does it meet the requests of our Board of Directors/ Executives Is there a product advantage / customer or end user benefit? Any legal/ environmental issues? “Should-Meet” Criteria Is the product “do able” by our employee backgrounds? Is the product technically feasible? Is there a competitive advantage? Action Plan Defined for 3 – 4 products Gate 1 Idea Screen 3 or 4 projects selected Decision time! Go/Kill/Hold/Recycle

10 Pacific DataVision Confidential Perform Inexpensive Activities Internet search Library search Contact with key users Concept test with potential users Preliminary Assessment Market Analysis : –market size, potential, acceptance, consumer behavior Competitive situation Construct the product concept Initial budget review Technical & risk analysis Define an in-house proposal of the product Scoping – Stage 1

11 Pacific DataVision Confidential Second Screen - Gate 2 Deliverables Research/ Data/ Definitions “Must-meet” criteria Does it reach our target end user/ customer? Are our users interested? Are there any legal/ technical issues? Is there an operational / service advantage? Is the product marketable? Is the product technically feasible? Is there a competitive advantage? “Should-meet criteria Does the project meet our timeline? Does the estimate cost meet our budget? More Rigorous Action Plan Defined Gate 2 More Rigorous Screen Decision time! Go/Kill/Hold/Recycle

12 Pacific DataVision Confidential Build the Business Case – Stage 2 Critical homework stage Description of each products concept Product benefits and values Defining product features, attributes, and requirements Technical appraisals of the project Legal and regulatory assessment undertaken Business and financial analysis conducted Development of the operations and marketing plan

13 Pacific DataVision Confidential Go to Development - Gate 3 Deliverables Research/ Data/ Definitions Results of all 3 or 4 business cases “Must-meet” Criteria Is the target market review defined? Is there a service advantage? Is there an operation advantage? Does the project meet our timeline? Does the estimate cost meet our budget? Are there any legal/ environmental issues? Is the product technically feasible? “Should - meet” Criteria Are end user features, attributes, wish lists defined? Action Plan will be Defined Gate 3 Select 1 product/ Project Decision time! Go/Kill/Hold/Recycle

14 Pacific DataVision Confidential Putting the pieces together! Alpha tests and in-house tests Parallel activities are taking place in all necessary departments Continue to monitor the company (market) situation/ direction Develop plans for technical support and service Develop plans with all needed partners Update cost/ lead times and financial analysis Regulatory & legal issues resolved Life cycle plan development Define Product Value Development – Stage 3

15 Pacific DataVision Confidential Go to Testing - Gate 4 Deliverables Research/ Data/ Definitions “Must-meet” Criteria Is the marketing plan defined? Is the service and operational elements defined? Is the project meeting our timeline? How are the financials? Are there any legal/ environmental issues? Do we have users to test our prototype? “Should - meet” Criteria Are end user features, attributes, wish lists defined? Action Plan Known Gate 4 All cross functional teams begin to test Decision time! Go/Kill/Hold/Recycle

16 Pacific DataVision Confidential Testing & Validation – Stage 4 Test and validate the viability of the project with the prototype or sample product developed Product quality & performance tests Does the product function under actual use conditions Customer/ End-User acceptance/ gauge reactions Determine the end users strongest responses to the products benefits, features, and attributes Test for bugs, improvements, and effectiveness Economics viability, if necessary Test reporting systems, if necessary

17 Pacific DataVision Confidential Go to Launch – Gate 5 Deliverables Research/ Data/ Definitions Results of end user tests in real life conditions Review Execution “Must-meet” Criteria Is the target market excited? Does the project meet our timeline? Is the product consistent with the budget? Are there any legal/ environmental issues? Have customer needs been met? Is customer/ end-user feedback positive? Are cross functional teams in synch? “Should - meet” Criteria Is the end user acceptance high? Action Plan being executed Gate 5 Decision time! Go/Kill/Hold/Recycle Final review before Launch

18 Pacific DataVision Confidential Launch – Stage 5 Implementation of the project plan underway!

19 Pacific DataVision Confidential Post – Launch Review Product’s performance and ROI is reviewed Collection of data is needed to gauge performance of other/ future projects Audit carried out to assess strengths and weaknesses Discuss what was learned and how the next project can be done better Product added as a “regular product” or removed


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