Product Innovation Process
The product innovation process provides an approach for successfully and sustainably developing new products or making improvements which is commonly understood and accepted by the whole organization. Product innovation processes are multidisciplinary activities, tools and techniques to achieve successful, repeatable product outcomes. Product managers should be equipped to select, apply, and blend the right innovation process models to maximize product success while minimizing risk across the full idea-to-launch journey.
This section addresses the following inquiries:
- How can I manage the early stages of the product innovation process, guide and set direction for a product innovation project?
- How can I understand product innovation as a “risk vs reward” process, and maximize reward and minimize risk in the product innovation process?
- What are the commonly used product innovation processes, and the benefits and limitations of each?
- How can I select the best process or combination of processes that align with specific organizational and product strategies?