Innovative Product Development Processes for Managers

New products and services are created by companies of all sizes for the growth and improvement of their business. New products provide company sustainability by offering new value to its customers, which generates additional revenues. Many of the new products have been at an incremental improvement stage for past many years, with some new features incorporated in them. The success of the product development process typically requires considerable resources that leverage the opportunity for better results in a customer’s business.

This training course is designed to provide participants with the essential concepts of the product development process. This course focuses on topics such as strategy and planning, value creation and product feature selection, concept development and ideas screening, value-based product pricing, and product solution definition and design.

• Gain a comprehensive understanding of the complete product development process
• Build products with a sustainable competitive advantage
• Develop value and market-based product pricing, product cost models, and product forecasts
• Prioritize new product ideas based on business strategic alignment, return on investments, and ability to execute.
• Deliver new product developments on time, and how to manage a team (or virtual team) of project resources and multiple business units’ stakeholders
• Conduct a detailed project financial analysis.