Event / Courses

Winning at New Products

OVERVIEW

Examine the best practices in New Product Development. This program distinguishes success factors including generating new ideas, developing the business case, roles and responsibilities, and picking, promoting and killing projects.

Recommended for:  

Executives; R&D managers; Experienced innovators; and anyone with responsibilities for maximizing the returns on their product innovation efforts.

Format:  

2-day workshop that combines practical examples, illustrations, and stories from collaborations with some of the world’s top performing companies. This course promotes free-flowing, interactive discussions among the typical, high quality network of delegates.

OBJECTIVES

  • Accelerate your New Product Development (NPD) process and dramatically increase profits, success rates and time-to-market based on what the top performing firms are doing
  • Right-size your idea-to-launch system and allow for flexibility and scalability – to suit different sizes, types, and risk-level projects
  • Accelerate your gating and portfolio management process – make Go/Kill decisions more swiftly
  • Improve the effectiveness and efficiency of the front-end of projects – doing the right front-end homework, and strategies to build voice of the customer
  • Significantly improve your gating and portfolio management process to identify higher value projects, yet make decisions faster and more efficiently
  • Determine the right mix of development projects – large versus small; long term versus short term; significant new products versus minor tweaks
  • Apply “lean gates with teeth” to cut through the bureaucracy and get the right Go/Kill decisions

CONTENT

  • Why New Products Fail, Why They Are Late To Market and What To Do About It
    • Only one new product concept in seven becomes a winner, and more than half of all development projects are late to market. An understanding of the problem is a first step to a solution. Learn about the reasons for new product failure, and gain insights into why so many miss their launch dates and targets, and what to do about it. Dr. Cooper also presents detailed data on businesses’ new product performance results, so you can benchmark your company against these.
  • Tailoring and Streamlining Your Idea-to-Launch System to Handle Different Types of Projects
    • Learn how to streamline your idea-to-launch system and right-size it to suit different types of development projects. See different versions of idea-to-launch methods to handle “innovation” versus “renovation” projects, and how companies are handling platform and technology development projects differently. Also, see new methods for dealing with higher-risk projects with great technical & market uncertainties.
  • Accelerate the Idea-to-Launch System
    • See new methods for accelerating the innovation process. Gain insights into “spiral development” designed to get the product right… fast… and to obtain rapid customer feedback. Learn about the principle of simultaneous execution – overlapping activities & stages and how to calculate the cost of delay. Finally, see how ‘lean methodologies’ can be employed in NDP to speed up the process and remove the waste & bureaucracy. See how to undertake effective PLRs (post-launch reviews) and build in continuous improvement.
  • Ensuring the Right Resources Are In Place to Accelerate the Idea-to-Launch System
    • Most new product projects are badly under-resourced: Only 10.7% of companies provide adequate resources to project teams to ensure a timely completion of the project. Part of the problem trying to do too many projects for the limited resources available – no focus. Another cause is poor project planning and under-estimating resource needs. Another is the failure of senior management to commit the resources, and to keep the commitment. Learn about approaches to gaining focus and also making better time and resource requirements estimates, including:
      • Resource capacity analysis & resource supply-demand analysis
      • Gates with teethPlanning & approaches to making better time & resource requirements estimates
      • Committing resources at gates
  • Getting Focused: Making the Right Investment Decisions
    • There are two ways to win at new products. The first is by doing projects right – all the traditional success drivers such as building in VOC, doing the front-end homework better, getting sharp, early fact-based product definition, and putting an effective cross-functional team in place. Most successful firms are quite good at these best practices. The other way to win is by doing the right projects – making the right investment decisions, and focusing resources on the right NP initiatives. And here most companies struggle: too many projects in the development pipeline, too many low value projects – tweaks and modifications that suck up all the resources, and poor project prioritization. In this vital session, Cooper shows the best methods to gain focus, achieve the right mix and balance of projects in your development pipeline, and pick the highest-value projects for development. A difficult topic, but critical to success!
  • What’s Next After Stage-Gate – Moving Beyond Your Current Gating System
    • Most firms have implemented some form of a stage-and-gate process to drive their new products to market. But cutting-edge firms are now evolving their systems to the next generation. Hear about what these firms are doing, as Cooper integrates these clever approaches into his “Triple A” system – Agile, Adaptable and Accelerated. See how firms are integrating Agile approaches from the IT world into their more traditional methods and for physical products. Learn about MVPs and Strategic Pivots and how these might work for your types of products. Finally, learn about some of the more advanced approaches from firms like 3M, P&G and Corning to accelerate their projects without compromising quality of execution.

INSTRUCTOR