MANAGE THE NEW PRODUCT DEVELOPMENT PROCESS

Teaching duration: 04 sessions, each session 3 hours. Combine online and in-person.

Object:

  • Business management.
  • Team leader/deputy leader and related departments.
  • The staff involved.

Describe:
New product development is increasingly popular among businesses. This is an activity that helps you stand firm in the face of market changes and attract more and more potential customers. And for this activity to be truly effective, you need an optimal process. This is the reason for the birth of the new product development process.
This process often requires good coordination between departments such as: R&D (Research & Development), Design, Sales, Branding in particular and Marketing in general.
So how many steps does the new product development process consist of? What are the risks you need to avoid when implementing? What is the difference in the product development process between a startup and an enterprise? And what is an effective method for Juniors to increase their product development skills?

Expected learning outcomes:
At the end of the course, students are required to grasp basic knowledge and apply it to their work. In there:

  • Module 1: Organizing the new product development process
  • Module 2: Methods for evaluating research and development (R&D) and product innovation projects
  • Module 3: Selecting a new product category

Evaluation method: students attend at least 75% of the class sessions and have a clear understanding of the lecturer's knowledge. Instructor requirements: must be an experienced and leading lecturer in economic knowledge and production activities.
Agenda:

Session 1: Organize the new product development process

  • Technology development and product development
  • 5-stage process - 5 gates when developing new products
  • Coordinate between functional departments in the new product development process

Session 2: Methods for evaluating research and development (R&D) and product innovation projects

  • Discounted cash flow method
  • Method for determining the commercial value of a project

Session 3: Methods for evaluating research and development (R&D) and product innovation projects (continued)

  • The project evaluation method is based on options theory
  • Risk assessment of new product development projects

Session 4: Selecting a new product category

  • Financial model
  • Scoring model
  • Matrix model for best category positioning