Tips to Cut Product Development Costs

Many innovators, entrepreneurs, start-up companies, and small/medium enterprises have very limited product development budgets. Therefore, these companies need to be very smart about properly spending their money to continue moving forward in the product development life cycle and saving cash for later in the product development game. In order to save costs, many organizations try to cut corners by integrating or altogether skipping...

Read More

Business Tips for Entrepreneurs with Prototypes

Entrepreneurs who are building a company around a product idea and are following the proper steps of product development typically have a prototype built. Of course, it is a natural part of innovation to build a prototype but sometimes these prototypes are not used to their full potential. Here are five business tips for entrepreneurs on what to do with a functional and professional looking prototype. 1. Develop realistic cost models...

Read More

Maintain A Strong Relationship With The Supplier: Tip #4:

Tip #4: Maintain a Strong Relationship with The Supplier There is a lot of articles written about the importance of the supplier in new product development and innovation. Most of these articles focus on topics such as supply chain management, supply management, supplier relationship management (SRM), and quality control. While these topics cover important issues such as product quality and continuous improvement plans, there is a...

Read More

How to Avoid Feature Creep and Scope Creep: Tip #3

Tip #3: How to Avoid Feature Creep and Scope Creep During Product Development Lifecycle Scope Creep. Feature Creep. Creeping Featurism. Featuritis. Project Creep. These are all terms used to describe the state in a project where the scope or features of the product continually change as the project progresses. Many of the articles written regarding scope/feature creep discuss software feature creep or methods of managing creep. Of...

Read More

Do not Ignore the Balloon Effect: Tip #2

Tip #2: Do Not Ignore The Balloon Effect An analogy that best describes the constraints of the product development process is one of a balloon. If a balloon is pressed or squeezed in one place, the fixed volume of air is just displaced and the balloon deforms. Here is how this analogy relates to product development. A program manager or engineer might attempt to squeeze cost or time out of the product development process only to find...

Read More
Page 10 of 17« First...89101112...Last »