1525 project-risk
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Managing risk in new product development relies on tools such as the product innovation charter, the structured NPD process (stage-gate), and portfolio management. Read more at the Idea Incubator blog at www.globalnpsolutions.com
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1525 project-risk
- 1. Idea Insights from GNPS Managing Project Risk Episode 15-25 www.globalnpsolutions.com/idea-incubator/ 1
- 2. Idea Insights from GNPS Gamble or Risk? • Gambling depends on luck • Know the odds • Depends on roll of die or draw of cards • Risk is manageable • Expected uncertainties • Innovation risks involve: • Markets • Technologies • Product Categories www.globalnpsolutions.com/idea-incubator/ 2
- 3. Idea Insights from GNPS Product Innovation Charter • Strategic project document • Links innovation strategy to specific team activities • Defines project triple constraint • Combats scope creep www.globalnpsolutions.com/idea-incubator/ 3
- 4. Idea Insights from GNPS Structured NPD Process • Also known as “stage-gate system” • Manages risk through progressive elaboration • Increase project investment as questions are answered • Iterative process that develops plan as information increases • Work is reviewed at gates • Gate approval includes next stage work www.globalnpsolutions.com/idea-incubator/ 4
- 5. Idea Insights from GNPS Portfolio Management • Portfolio management seeks highest value • Entire suite of active new product development projects • Limited by resources (people, money, equipment, time) • Match innovation strategy with active projects • No risk is bad over the long-term • Too much risk is also bad • Balance short- and long-term needs www.globalnpsolutions.com/idea-incubator/ 5
- 6. Idea Insights from GNPS Other Tools • Many available risk management tools • Risk register • Brainstorming • Cause and effect diagrams • Flow charts • Influence diagrams • SWOT analysis www.globalnpsolutions.com/idea-incubator/ 6
- 7. Idea Insights from GNPS For More Information • See the full post at the Idea Incubator Blog • www.globalnpsolutions.com/idea-incubator/ • Free registration • Contact me! • 1-281-280-8717 • info@globalnpsolutions.com • 2323 Clear Lake City Blvd., #180-177 Houston, TX 77062 www.globalnpsolutions.com/idea-incubator/ 7 Click here