Top-performing businesses build in product superiority at every opportunity, and they look for the "wow!" factor. This is one key to new product success, yet all too often, when redesigning their new product processes, too many firms fall into the trap of repeating current, often faulty practices. There's no attempt to seek truly superior products, and so the results are predicable: more ho-hum, tired, vanilla products that don't make much money.
Here's how to drive the quest for product advantage:
• Ensure that at least some of the criteria at every gate focus on product superiority. Questions such as, "Does the product have at least one element of competitive advantage?" "Does it offer the user new or different benefits?" and "Is it excellent value for money for the user?" become vital questions to rate and rank potential projects.
• Require that certain key customer actions designed to deliver product superiority be included in each stage of the process. Examples are given in the "strong market orientation" item below.
• Demand that project teams deliver evidence of product superiority to gate reviews, and make product superiority an important deliverable and issue at such gate meetings.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.