This course is designed to assess the underpinning knowledge of delegates for understanding the principles of product development. Developing and launching successful new products is a key marketing value driver. Successful innovation ensures that your products stay competitive and that growth opportunities are not missed. However extensive research indicates that failure rates in this area high.
Develop your complete skill-set to confidently manage new product and innovation projects. Reduce your product development cycle and quickly gain profitable entry new markets. Create winning product concepts using advanced idea generation and screening tools.
Who should take this course
Managers and executives irrespective of function who are or expect to become involved in the development of new products and the innovation process within their organization.
Day 1 - Introduction of New Product Development and Creation:
- Introduction Sources of Ideas for New Products
- Capturing Ideas
- Evaluating Ideas
- Making the Decision to Investigate a New Product Idea
Day 2 - Organizing Product Development:
- Effectively Empowering Teams
- Cross-Functional Teams - the Key to Effective Early Involvement
- Best Practices for Product Development Teams or Integrated Product Teams
- Integrating Suppliers - Early Supplier Involvement
Day 3 - Planning Managing and Product Development
- Best Practices for Project Management
- Developing the Project Plan
- Identifying and Managing Project Risks
- Critical Chain Project Management
- Establishing a Repeatable vs. Ad-Hoc Development Process
- Key Activities by Project Phase
- Performance Measurement & Metrics
Day 4 - Product Design:
- Target Costing and Design to Cost
- Establishing a Market-Driven Target Price
- Deriving a Target Cost and Tracking Target Cost Achievement
- Using Product Cost Models to Guide Development Decisions
- Value Analysis/Function Analysis
- Addressing Reliability Maintainability
- Testability and Other Factors
Day 5 - Managing the Product Lifecycle and Implementation:
- Support Products During Their Life
- Monitor and Extend Product Life
- Determining When a Product Should Be Phased-Out
- Developing an Overall Improvement Plan
- Metrics for Measuring Performance
- Discussion - Participant Questions and Issues
About Course Provider
London Training for Excellence offer a wide range of training courses in London for organisations and individuals who wish to advance their skills and knowledge in the business world. With a great training centre in London, London TFE have everything that is needed to understand the basic needs of a business. Each course focuses on the ‘real-life’ issues a business could face and how to tackle them with ease.
London TFE have a team of enthusiastic leaders and instructors who share a passion for education and want to deliver that same passion to every individual who wish to take a business to succession. Each training courses London encourages individual to aim high and reach their full potential.