Redefining product development
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The document discusses challenges with traditional product development approaches and proposes methods to address them. Traditional approaches result in long development times, minimal customer involvement, discovering customer expectations late, and uncertainty. The proposed approach is to understand customers like a zoologist by observing their natural environment. This involves applying lean canvas, design thinking, capturing expectations early, developing minimum viable products, engaging customers throughout development, and focusing on value generation and benefit realization.
Redefining product development
- 1. REDEFINING PRODUCT DEVELOPMENT Chandan Patary , Agile coach
- 2. CHALLENGES WITH THE CURRENT PRODUCT DEVELOPMENT • How can we build product which are profitable and scalable for the organization to sustain? • Taking too long to push the product into the market? • Customer involvement is minimal as a result of that acceptance of the features is minimal and time consuming? • Discovering customer expectation later in the value chain which is an expensive process? • Customer does not understand technology fully or not able to express what they want, incremental feedback is missing? • Without establishing customer expectation, product development is scaling up which resultant into gap in expectation vs delivery cause loss of money? • How to address uncertainties which could become a risk for the product? • Ability to understanding customer requirement explicit, implicit, tacit requirement. • Assumption checking is missing and become project risk later period of time?
- 4. APPROACH TO ADDRESS SUCH CHALLENGES
- 5. WHO WILL BUY OUR PRODUCT?
- 6. CONSUMER WILL BUY FROM US WHEN WE HAVE BELOW FACTORS DONE
- 7. BE LIKE A ZOOLOGIST, CONSUMER DISCOVERY AND UNDERSTANDING PROCESS • We have to be like a zoologist and go to the natural habitants like national park and find what these animals does , • how they live and help them to live better. Helping others is much simpler • when we have Zoologist like approach because we know them from heart. We are not pretending that we know them.
- 10. INNOVATION BUGLE • Generate as many ideas as possible to start with and focus on few which solves customer’s problem effectively. • Iterate the same once we get the feedback from the customer. • This approach has to apply into the project execution environment.
- 12. TOOLS TO CAPTURE THE EXPECTATION
- 13. REDEFINE PRODUCT DEVELOPMENT CYCLE
- 14. MINIMUM VIABLE PRODUCT • With minimum investment how to can we satisfy the need to the end users which user is willing to pay • Most of the time we do not use all the features developed in the product
- 16. VALUE GENERATION
- 17. VALUE BASED DELIVERY MODEL
- 18. SHOW AND TELL, INVOLVE AND ENGAGE END USER EARLY IN DEVELOPMENT CYCLE
- 20. SIDE EFFECT OF LONG TERM PLANNING
- 21. BENEFIT REALIZATION • Improved cycle time • Improved Customer satisfaction rating • Improved employee satisfaction rating • Improved profit