Product development means new products, product enhancement and product acquisition, all these development are essential to sustain and grow companies, to satisfy new markets, replace slow moving lines and to fulfill the ongoing needs of customers and consumers.

For Innovation Connections product development is a management function that needs a systematic approach, our experience and knowledge in manufacturing, engineering and marketing means we have a deep understanding of the process and possible pitfalls, areas to assess are....

Assess your overall objectives based on a review of capacity, technology status, skill base and those factors that will have a bearing on success

* Set the time line and financial and management resources needed
* Use project management software to measure progress against plans
* Assess risks and plan for risk reduction.
* If you lack any resources, buy them in, always use a make/buy process

The Development Plan has to be an integral part of the business and strategic plans The plan has to conclude with hand over, internal or external supply chain

* Changes in the plan are inevitable, look for spin offs as a solid result
* Management structures means having team leadership with accountability
* Input has to come from other departments, marketing, production
* Use planning charts to highlight progress
* Balance technical and commercial risk against cost and time

* Establish concept viability, outline approach, costs, time frame, technology approach
* Product and process engineering design, manufacturing methods, systems engineering.
* Prototyping, testing, commissioning and evaluation.
* Prove the product and process before moving into volume manufacture
* On completion evaluate the process and effectiveness of the plan

* Vary the depth of planning depending upon the validity of the concept and idea.
* Market driven ideas or needs are generally easier to research than new ideas and concepts
* Every concept has to be assessed against commercial criteria based on business plans and competing products

* Manufacturing and process facilities, human resources requirements, technology and process acquisition and skills development.
* The product has to be specified, drawings and process instructions created
* The operational plan has to consider risk, expenditure, performance requirements, all designed to take the concept to completion.

* Products have to meet planned performance specifications
* Budgetary and timing performance has to be assessed
* The processes demonstrated and costs verified
* Review initial customer exposure confirming needs and wants
* The project should also meet corporate objectives and satisfy stakeholders

There is value in continually reviewing progress, risk reduction and compliance to specification are critical areas to address

* Critical issues include planning, setting objectives, budgets, assessing risks and progress, accountability                                   
* Technology has to be verified under project conditions
* Performance of products has to be demonstrated under operating conditions
* Production process capability much match the product design intent
* Mergers and acquisition of products, technology, equipment and skills means due diligence and verification or IP ownership

* Define the support needed, skills, HR, technology, capital
* External support, technology providers, licensors, educational institutions
* Internal support, technology and skills base and potential for development
* Government support includes State and Federal programs, R & D tax concession, Technology showcase, EMDG and awards programs.

Planning also means deciding where you want the strategic support.