Typical Problems in New Product Development in SME's

Typically, new product development starts the moment's customer asks for a new product or giving intend for new products to the organization delivers the physical product to the customer .We can call it as C to C

In between the intent of physical delivery, a lot of issues or challenges the organization is facing. 

Given below some of the typical issues or challenges 

1.Not fully aware of the customer's requirement

2.No sign off of idea/concept between customer and organization leads to  frequent changes in the idea/concept of the product itself

3. Not identifying and involving all the key stakeholders at the beginning of the project may lead to changes at a later stage, in turn, affect the timeline/ cost and deliverables (Quality Requirements)

4. Not spending enough  on planning  product development process leads to time delay and cost overrun

5.No structured management reviews on risk assessment and mitigation of risks lead to delay in decision making, Q issues, cost overrun and time delay.

6.No structured tracking systems for  change management and in the absence of change management, any delay or cost overrun or quality issues in the new product development would be taken at a personal level and blame of others

7.No systematic planning on facilities like fixture/ gauges/material handling/toolings leads to delay and quality issues in the product.

8.NPD trials and proto building take the second priority in the organization next to day to day deliveries lead to delay and personal friction among the people on sharing the organizational resources.

when you observe those above challenges, you can find a pattern of challenges.

That is lack of target, people integration, lack of process on communication, resource planning, risk assessment, review forums and so on. To overcome those pattern of challenges only, PROJECT MANAGEMENT comes a holistic solution in the new product development process!