Does anybody have thoughts on what types of goals we should set for our product development team?
What types of goals do you recommend for product development
Answers
Matt
I'd suggest you first of all baseline what happens today. Your goal for the group may be both tactical and strategic.
What questions are you trying to answer? e.g.:
-How long does a new product take to move from inception to approved/launched?
-What % of revenue comes from products less than 3 years old?
-What is the current NPD process like/what issues?
Then you can start to design the new process and set goals covering:
-managing products in development
-increasing the revenue share of new products/new markets.
Hope that helps.
As you've likely gathered from Len's response, Product Dev is very complex. The development life cycle alone has 8-10+ steps (e.g. Prototyping, Testing and QA), and goals should be established for each step. It's nigh impossible to answer the question without knowing about what's being developed.