Strategic Planning and Identifying Risk Factors for a New Product
You are an R&D project manager, and you have been asked to generate a new product idea and the project plan for its development. The new product is to be based on an innovative use of a mature technology. Identify the new product, and create a strategic plan for its development. For each stage in your development plan, discuss the potential risk factors and your plan for managing them.
Solution Preview
The innovative use of mature technology will be the production of a full hybrid electric mid-size car which will have a fuel economy of 80.6 miles per US gallon..
Initial Stage:
Idea Generation:
The strategy for idea generation will be that intensive research will be undertaken on the car engine and battery. The purpose of intensive research will be to improve fuel economy to such an extent that the fuel economy of 80 miles per US gallon is reached. It is expected that idea generation after proper research will take six months time.
The potential risk factor is that the researchers may not be able to able to develop a car that will go 80 miles per US gallon. I have planned that if this situation arises then, additional time and resources will be provided to the researchers to develop the new car. The launch of the car will be delayed.
Need Based Generation:
There ...
Solution Summary
The solution gives 595 words and 5 references to address this question of explaining each of the three stages in new product design and identifying the risk factors. Concepts of marketing, design, production and idea generation are covered within.
... or 7 weeks to complete the strategic planning task ... idea generation, screening, and identification of risk, identifying possible alternatives ... Key success factors: ...
... be able to take the risk associated with ... provides a good framework for identifying relationships, but ... of the conceptual framework for strategic planning can be ...
... be able to take the risk associated with ... provides a good framework for identifying relationships, but ... of the conceptual framework for strategic planning can be ...
... and example and by identifying and discussing the ... mechanisms through which the strategic objectives are ... An important support to corporate planning therefore is ...
... By planning beforehand; identifying exactly which team members ... Country Risk and Strategic Planning Analysis 11. ... recently completed a country risk analysis for ...
... analysis is a very useful tool for identifying and assessing ... Popular Strategic Methods: ... grindstones of hard work, determination, good planning, and perseverance ...
...Identifying the company's mission, vision and values is the ... OD) driven method in their planning and approach ... could arguably shoe-string its strategic budget to ...
... It focuses on identifying and understanding the present and potential opportunities and ... This strategic element requires careful planning in both ...
... keys to success for effective project planning. ... a Project Management Office • Identifying and involving ... a retrospective at three strategic milestones” we ...