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What types of goals do you recommend for product development

Matt Parker's Profile

Does anybody have thoughts on what types of goals we should set for our product development team?

Answers

Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

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.

Topic Expert
Mike Caruana
Title: Director of Financial Services
Company: Diamond Resorts International
(Director of Financial Services, Diamond Resorts International) |

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.

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