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Product development cycle time

  • 1.  Product development cycle time

    Posted 09-28-2019 13:03

    As a product development expert, in your Industry, how is the industry reducing the product development cycle ? Is there any specific methodology that has been followed in your industry ?



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    Seif Abdelghany
    Local Category Manager
    Electrolux Major Appliance
    10th of Ramadan
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  • 2.  RE: Product development cycle time

    Posted 11-25-2019 06:24
    Seif,

    That's an important question. A few thoughts immediately spring to mind:
    1. In Software development the obvious one is the evolution of Agile, which is designed to ship business value frequently
    2. Lean Startup: Been around a while now and probably further evolved - understand problem, define solution, create MVP, test test test and iterate
    2. Open source & web APIs: The availability of open source software enables organisations to leverage existing applications for platform functionality, freeing up the development team to focus on the business logic required to solve the customer needs.
    3. I also see more and more focus on the use of Design Thinking. It spends more time at the front end (Empathise, Ideate, Prototype, Test) but results in a better product/market fit and ultimately faster delivery of value to the market. It also speeds things up by ensuring that the project focuses on the important product features to develop.

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    Brian Martin
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  • 3.  RE: Product development cycle time

    Posted 09-11-2021 01:47
    At our company we leverage a number of methodologies and what we call a full-stack product development team. This means we run small teams that have leads that represent marketing, technology, business, research and design (big d). We typically focus on adjacent and transformational innovation. Put simply, new products, new markets or new products for new markets.

    On the front end of innovation we leverage primary and secondary research (both qual and quant) in combination with design sprints. We continue these sprints from problem identification, through conceptual and detailed design. During this process we use an ilities stage gate process that measures desirability, viability and feasibility. As we move past detailed design, we get into our develop and launch phase, where we use agile development and develop our go-to-market based on previous research (persona(s) pains, gains, needs). Once we have a viable product in market, we continue agile development and deploy traction marketing tactics (along with developing any other channel partnerships) as we seek to find product market fit.

    The real value beyond the methodologies, modern technologies, etc is the use of a holistic team. When you have t-shaped members who represent all expertise required to launch a new product or venture, collaborating from the fuzzy front end through market launch, there are many efficiencies to be gained. Things like supporting marketing, analytics, partnerships, etc are first class citizens from the beginning instead of things that are bolted on later. Additionally, as others have stated, taking a design thinking or "human first" approach tends to increase the probability of market success.

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    Richard Brookfield
    Director, Technology
    Three Five Two
    Tampa FL
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  • 4.  RE: Product development cycle time

    Posted 09-10-2021 05:30
    Brian,

    Those are really good thoughts. I'd also supply that testing an MVP is the most meaningful and important step in every product development. Poor quality or incompleteness of MVP tests may entail a wrong estimate of the future product and, eventually, hit your wallet. To provide the most accurate and complete MVP testing, you need to engage not only a testing team but marketing experts, as well.

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    Eugene Scott
    Access Business Group
    Melbourne
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