New Product Development

A ‘new product’ can be a product or a service. It can be the next revolutionary computer chip, or a new holiday package put together by a travel agent. The point is, it is new, so it is often risky.

This briefing will not help you generate the ideas for completely new products, or recognise a winner when you see one. It focuses on the next stage — turning an idea into a new product, once you have decided to go ahead with it. It covers:

• Reducing the risks as early as possible.
• Setting a spec, a price and a schedule.
• Running the project team and keeping costs under control.