I think project management during product development is a challenge. Product development is a time consuming and resource consuming process. It is always important to control costs and maintain schedule during this period where the waste in terms of triple constraint is invisible. Most of the projects go over budget during this phase of the project. Please share your thoughts and any ideas to effectively manage projects which involve product development.
Having a good intake process and a progressive funding model (e.g. stage gate or something similar) can avoid some of the challenges you raise. Take a look at Eric Ries's book The Lean Startup if you want ideas on how to tackle product development...
Kiron, I will look for the book to read. Thank you for your suggestion. Saving Changes...
Shivanjali BhutkarBringing Technology and Business togetherNa, Ca, United States
thanks for the suggestion, will look into it. Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Depending of what the organization has defined as product development (the process) a project can or not can be started. I mean, most of the phases of product development, most of what you named as time and resource consuming are not insde a project. But again, it depends on the defined process. Saving Changes...
Another recommendation would be Drs. Cooper & Edgett's books on product development... Saving Changes...
Rita FergusonPMP Project Manager ConsultantMilford, Oh, United States
As a PM, I worked for many years in a R&D Center for a chemical company. Product development was handled differently because of the problems you stated, including the number of iterations that can put the product into a development loop, sometimes for years. This is also a stage when the organization has to have deep pockets because setting a budget is a near impossibility, depending upon what is being developed and for whom.
We found that until the product development passed several Stage Gates, it could not be a project. It had to pass all the iterations of testing-failure-rework-testing-validation and receive the go-ahead, meaning it was far enough along and product would not be killed. After the product passed that gate, the project could officially begin (testing manufacturing process, commercial testing, customer acceptance, full production, commercial launch, etc.)
There are several excellent books on the subject as suggested by Kiron Bondale. Good luck -- but isn't this why we love project management. We're always learning! Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Just trying to add something to Rita comment above, while in my personal experience to be or not to be a project depends on the organization strategy, I agree with not to open a project on that. If you need information about the role involved on that it is the business analyst, a new role insde the PMI framework but an ancient role outside there. If you take the PMI documentation you will find it start working before the project exists and after the project ends assuming product development as something as part of a solution to solve a business problem and to monitor if when the problem is solved (solution in place) the benefits are achieved. As Rita I have the opportunity to work in the same domain. Saving Changes...
Product development needs specific budget and schedule (which may vary) as part of R&D. Sometimes the cost and schedule overruns are possible in these types of projects. Rita as you said, the project should be defined after those steps/phases are completed with a business case. Saving Changes...
I am looking forward for some more real time experiences. Do you agree the fact that Produce development is a challenging part of project management and how you are handling with some examples?.
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1 reply by Rita Ferguson
Jun 21, 2018 10:54 PM
Rita Ferguson
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There is an extremely wide range of "Product Development". There is innovation and developing a new product or material that has never before been made. It may entail working with new suppliers and/or suppliers who have partnered with your organization in the new endeavor. Some suppliers may be developing new products for your organization to test in your new product. I've seen very complicated innovations that take years and some that are never brought to market commercially.
In my experience, an innovative development project starting from the ground floor was covered by an R&D budget.
On the other side of the spectrum is designing a product that will be built on a proven technology -- the modification can be substantial or it can be easily fitted onto the current technology but it can at least be estimated within an acceptable range.
In terms of budgeting, as Sergio stated above, this is best done by a financial analyst within the PMI framework. Don't forget to perform risk management!
