New Product Development and Introduction

New Product Development and Introduction Training

Project Management Training

Project Management Standard

New product development and introduction is a major concern of most companies.  The successful development and introduction of the “right” product or service can mean the difference between your company’s continued success and growth and its decline and failure.  The path is particularly hazardous today with the increased financial pressures, global market considerations, and off shore manufacturing.  As always, you must develop the right product or service for your market, get it right the first time, and do it on time and within budget.

It is equally important that your product is safe for all who come in contact with it or are in any way influenced by it.  Indeed, companies are doing, and are required to do, more today to assure the safety of their products.  A good new product development and introduction process will help you to be certain that your product meets all regulatory requirements, and that all required documentation is maintained.  This will enable you to act quickly and efficiently if something does go wrong, and will enable you to assess and correct the problem quickly.  It will also help you to demonstrate that the proper steps were taken in the development and introduction of the product and help you to avoid costly and damaging lawsuits and fines.

Typical causes of failure are:

  • Developing the wrong product or service
    - Inadequate product or service for market requirements
    - Product or service outpaced by technology or competition
  • Inadequate planning and control
    - Cost overruns
    - Over designed or incorrectly designed product or service
    - Overpriced product or service
  • Schedule delays
    - Missed window of opportunity
  • Performance issues
    - Product or service does not meet requirements or expectations

New Product Development and Introduction Process

The new product development and introduction process varies from company to company, but the essentials of a successful new product or service development process are the same for all companies.  This is particularly important as you develop your niche in the new technology areas, including ecologically friendly processes and products, and new applications to revitalize your older products.  You must decide exactly what your market requires, and define, develop, and provide that product or service.  You must also keep in touch with your customers to make sure that your product or service continues to meet requirements and expectations.  In short, you must have a very good plan and must have the discipline to follow that plan.  This can be daunting, but Quality Systems Innovations, Inc. has the help you need to develop and control your new product effectively and to introduce it successfully. 

Since its foundation in 1901 as the Engineering Standards Committee, BSI Group has grown into a leading global independent business services organization providing standard-based solutions in more than 120 countries.

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Project Management Training