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New Product Development Fallacies and Myths on HBR Article

  • 1.  New Product Development Fallacies and Myths on HBR Article

    Posted 01-06-2020 15:09
    Hi All,

             I found this amazing HBR article on fallacies and myths in new product development

    I wanted to know your feedback and what else do you consider a fallacy/myth of new product development?

    Six Myths of Product Development
    Harvard Business Review remove preview
    Six Myths of Product Development
    Most product-development managers are always struggling to bring in projects on time and on budget. They never have enough resources to get the job done, and their bosses demand predictable schedules and deliverables. So the managers push their teams to be more parsimonious, to write more-detailed plans, and to minimize schedule variations and waste.
    View this on Harvard Business Review >


    BR

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    Seif Abdelghany
    Local Category Manager
    Electrolux Major Appliance
    10th of Ramadan
    seif.abdelghany@gmail.com
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  • 2.  RE: New Product Development Fallacies and Myths on HBR Article

    Posted 01-08-2020 17:35
    Seif,
    "Six Myths of Product Development" is a great article!  In my experience with several major companies (and a couple of small ones) this is spot on.
    I'll add one other Myth:  One size product development process fits all.  A more realistic and successful approach is to tailor the process (waterfall, agile, hybrid, etc) to the specific goals of the project and the needs and skills of the team

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    [Sue] [Burek] [NPDP]
    [kHUB Administrator]
    [PDMA]
    [Huntersville] [NC]
    [585-314-4611]
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  • 3.  RE: New Product Development Fallacies and Myths on HBR Article

    Posted 01-09-2020 11:16
    Hi Sue,

          I fully agree with you, one size fits all product development causes drastic faulures to projeccts. Customization and tailoring to your product needs is the best and shortest way to success

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    Seif Abdelghany
    Local Category Manager
    Electrolux Major Appliance
    10th of Ramadan
    seif.abdelghany@gmail.com
    ------------------------------



  • 4.  RE: New Product Development Fallacies and Myths on HBR Article

    Posted 01-13-2020 18:47
    Hi Seif,

    It's a great article. I agree with the six myths. I have noticed many others myself, one somewhat related to Fallacy 6 is that Product managers should know and specify all the exact requirements up front, in detail - if the wrong product comes out of the process, it's because the product manager did not write a good specification. Personally, I have found that product development is better when it's a collective discovery process where all members of the team are willing and empowered to contribute to making it the best it can be, and not just slavishly following some upstream specification. There is no way a product manager can get everything right and won't have the expertise to understand every nuance of how different design elements will interact. By all means the initial high level requirements based on genuine customer and market needs and getting the product development off in the right direction are crucial, but including every last detail in the requirements is an impossible ask.

    Thanks for sharing the article.

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    Brian Martin
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  • 5.  RE: New Product Development Fallacies and Myths on HBR Article

    Posted 01-17-2020 04:09
    Thanks Brian for your feedback.

    I share your concern as well that "By all means the initial high level requirements based on genuine customer and market needs and getting the product development off in the right direction are crucial, but including every last detail in the requirements is an impossible ask."

    And I believe that the lack of existing seasoned business analyst or business analysis office in the organization is one of the main reasons we have failure in capturing requirements or even sometime fatally misinterpreting it. I believe that one of the main trends we are observing and will continue to rise is the need for business analyst as a separate function included in all projects and product development initiatives.

    This can even be a good chance to have collaboration between IIBA and PDMA on tackling such a point to prevent this fatal problem that many companies face nowadays. 


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    Seif Abdelghany
    Local Category Manager
    Electrolux Major Appliance
    10th of Ramadan
    seif.abdelghany@gmail.com
    ------------------------------