How do you prioritize which products/enhancements get funded if financial resources are limited? What are the criteria for these decisions?
The answers to these questions are critical.
Many companies simply dive into development of a product without establishing a simple and well organized process for the company to follow as enhancements are added, more products are created, etc. This might not be a problem while your business is small and changes are manageable, but as your company grows and you add new features regularly or generate significant new product concepts for evaluation it can become a problem and significant management challenge.
How do you prioritize which products/enhancements get funded if financial resources are limited? What are the criteria for these decisions? The answers to these questions are critical. The NextGen Marketing Group™ will design a custom product development process for your company based on our years of experience in new products and give you an easy template to follow for making critical prioritization and funding decisions. Primary components of a product development process are:
- Evaluation of Your Current Product Development Process
- Expected Product Evolution and Future Pipeline Activity
- Product Review and Product Prioritization Process and Templates
- Stage/Gate Product Development Process
- Change Management
- Product Testing
- Product Launch
- After Action Reviews - What Happens After Launch
