Product development maturity assessment


Published on

  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Product development maturity assessment

  1. 1. Product Development Maturity AssessmentInstructions1. In the "Weighting" tab, set the weighting for each category based on relevancy and current business needs. Ranking Scale2. In the "Self Assessment" tab, rank your organization on a scale of 1-5 on your compliance with each best practice. 1 - Strongly Disagree3. Check the "Results" tab to identify your current/goal state in each category. 2 - Disagree4. View the "Recommendations" tab for actionable advice on how to improve your capabilities. 3 - Moderately Agree 4 - Agree 5 - Strongly Agree
  2. 2. Product Development Maturity AssessmentCustomize this tool by changing the weighting scale for each assessment category.Weighting Scale Strategy Process Definition Portfolio Management Skills & Discipline Total 25% 10% 25% 40% 100%
  3. 3. Product Development Maturity AssessmentRank your organizations compliance with each best practice using the drop-down box in the Score column. 1. Product Development Strategy Description of Best Practices Score Notes/Comments We have a defined project development strategy with clear objectives, initiatives, measures, and time- frames to achieve goal-targets. 1 Our product development strategy is closely aligned with our business strategy. 2 We use Product Roadmaps to highlight strategic areas of focus and L/T investment. 2 Management has long-term vision for product development beyond current projects. 2 Senior management views new product development as a top priority for growth. 1 We review our core competencies and conduct industry analysis to determine our market opportunities, develop entry strategies, i.e, first-to-market, low-cost, niche. 3 2. Product Development Process Definition Description of Best Practices Score Notes/Comments Our Product Development Process is clearly defined, documented, and adhered to. 5
  4. 4. Our Product Development Process is clearly defined, documented, and adhered to. 5We have deliverables and checkpoints for each stage in our development process. (1. Concept, 2.Research, 3. Analysis, 4. Develop, 5. Launch) 1Checkpoints are mandated to promote projects to the next stage of development. Sponsors usescorecards with criteria for making Go/No-Go decisions at checkpoints. 5Standardized tools & templates have been developed to assist project managers with completing theirdeliverables, i.e, Product Development Charters, Business Cases, Product Feature CompetitiveAnalysis, Market Research Reports, etc.) 1We conduct heavy up-front research to validate customer needs & problems, evaluate market potential,forecast sales, examine fit with business strategy, etc. 2Product development metrics are used to make resource allocation decisions and monitor success, i.e,Net Present Value, Forecasted vs. Actual Sales, On-Time Launch. 13. Product Portfolio ManagementDescription of Best Practices Score Notes/CommentsOur portfolio of product development projects is well balanced. (risk vs. return, new productdevelopment vs. existing product enhancement, S/T vs. L/T, etc) 4We review our portfolio at least quarterly to review, rank, & re-prioritize projects. 5Senior management uses a formal prioritization framework to score each projects attractiveness,according to strategic fit, feasibility, and risk. 5
  5. 5. We effectively balance resources available with the amount of projects underway. Our staff haveenough time to produce quality deliverables for each of their initiatives. 3Low value projects are identified and cut to ensure our portfolio stays lean and targeted on initiatives thatprovide the most overall value to the organization. 3We use the concept of strategic buckets to split our resources into clear categories for investment, i.e.New Products, Enhancements, Customer Requests, Cost-Reducers. 44. Product Development Skills & DisciplineDescription of Best Practices Score Notes/CommentsOur staff are fully trained on our product development process and understand how to complete high-quality deliverables for their role. 4Senior management enforces our process and attends all checkpoint meetings to make decisions tocontinue, hold, or cut projects. 3Marketing staff are capable of conducting formal market research to identify customer needs & marketsize, and bullding business cases for new product opportunities. 4Technical/Engineering staff are capable of translating market requirements into functional specifications,building prototypes, and designing testing & QA programs. 4We build cross-functional teams for new product development. Marketing and technical staff cross-traineach other to promote deeper understanding, improve collaboration efforts, and ultimately develop betterproducts for customers. 4A product development process sponsor exists to ensure our process is followed, staff are well trained,decisions are made, and deliverables are continuously improving. 2
  6. 6. A product development process sponsor exists to ensure our process is followed, staff are well trained,decisions are made, and deliverables are continuously improving. 2
  7. 7. G Current GoalProduct Success Drivers o Product Development Maturity Index State State a Product StrategyProduct Strategy 1.8 2.3 5.0 4.0 3.0 1.8Process Definition 2.5 3.0 2.0 1.0Portfolio Management 4.0 4.5 Skills & Discipline 3.5 0.0 2.5 Process DefinitionSkills & Discipline 3.5 4.0Effectiveness Score (out of 100) 62 4.0 Portfolio Management 30
  8. 8. Product Development Maturity Assessment Product Development Success Drivers Scores Recommendations1. Product Development Strategy Use a Product Management Strategy Scorecard to document Objectives, Initiatives, Measures, andProduct Development Strategy (objectives, initiatives, targets, measures) 1 Targets. Review your business strategy to clearly link product development objectives with overall businessAlignment with Business Strategy 2 objectives. Develop a high-level Product Roadmap to highlight trends, key markets, products, and technologyProduct Roadmaps for L/T Areas of Focus 2 required. Discuss long-term vision for product development to determine key areas of focus beyond currentLong-Term Vision for Product Development 2 projects. Work with senior management to identify why product development is not viewed as a key toSenior Management Commitment 1 sustained growth. Conduct rigorous internal & external analysis before commiting resources to new productMarket Opportunity Identification 3 development.2. Product Development Process DefinitionProduct Development Process Definition 5 0Clear Phases & Checkpoints for Development 1 Refine your process to include checkpoints that are required for promotion to the next phase.Checkpoints Used to Make Go/No-Go Decisions 5 0Standardized Tools & Templates Exist 1 Build a set of standardized tools for project managers to use. Post on your intranet for easy access. Formalize your market research process to gather more accurate data for decision-making atHeavy Up-Front Research to Validate Concepts 2 checkpoints. Work with Finance to create a standardized set of metrics that will be used to gauge & monitorProduct Development Metrics 1 success.3. Product Portfolio Management
  9. 9. Portfolio Balance (risk vs. reward, new vs. old, S/T vs. L/T) 4 0Regularly Scheduled Portfolio Review Process 5 0Formal Prioritization Framework to Score Projects 5 0 Cut low value projects, and put some projects on hold. Focus on executing high value projectResource Management (resources available vs. projects in progress) 3 flawlessly.Lean, High Value Portfolio (low projects cut) 3 Set clear criteria for projects to continue. A benchmark on a scorecard is a simple, effective solution.Investment Areas (new, enhancements, requests, cost-reducers) 4 04. Product Development Skills & DisciplineTraining & Skill Sets of Team Members 4 0Senior Management Attendance at Checkpoints 3 Secure buy-in from the CEO that senior managers must be present for the process to work properly.Marketing Staff Skills (market research, business cases, etc) 4 0Technical Staff Skills (spec design, prototyping, testing, QA, etc) 4 0Cross-Functional Team Building 4 0Product Development Process Sponsor Exists 2 Assign a senior manager to monitor the adoption & success of the new product development process.