finish line pds product development process
DESCRIPTION
If you are a small company and you are interested in reducing your product development cost, increasing your product quality, or decreasing your time to market, then this would be a good place to start. Take a look at this short presentation on Product Development created by Steve Owens, owner of Finish Line PDS. Steve has over 30 years of experience in product development. Give him a call at 603-880-8484 for more information on how Finish Line PDS can help you!TRANSCRIPT
A Better Way for Small Companies to Develop Products
Finish Line PDSProduct Development Services
The Product Development Process
Steve Owens 30+ Years of product development experience 25+ Patents 4 Technology start-ups Founder of Finish Line PDS
Finish Line PDS Develops technology products for small companies and start-ups Lower Development Cost / Faster Time to Market / Higher ROI Since 2002 More than 1,000 Projects More than 200 Customers Mechanical / Electrical / Firmware / Software
This Presentation Brought to You By:
Product: What the customer buys
Development: Growing the product vision
Process: A step-by-step series of activities that have a defined method
The goal of product development is to generate a positive return on investment.
Product Development Process
Fired for being “Incompetent” Deep thinker Obsessive compulsive disorder Not a technologist, but process
oriented Largely an incrementalist Only the best
What Makes a Good Product Developer?
Steve Jobs
Product Development Myths
Product development is all about technology
I just need a prototype
Everyone will steal my idea
My uncle is an engineer, he can design the product at night
I will outsource my product development to the lowest bidder
I will get funding from venture capitalists, angels, kickstarter etc.
Everyone will buy my product
First to market wins
Truths About Product Development
You must have a realistic schedule
You must have a realistic budget
No one will steal your idea
99% of all engineers are not trained in product
development
Amateurs will cost you a lot of money and time
Most ideas/companies are not fundable
Finding out if someone will buy your product costs
money
Best to market wins
Product Development is Difficult
Source: “New Product Development: Process Benchmarks & Performance Metrics” – Scott J. Edgett Ph.D. – 2011
Top Performers Bottom Performers0
10
20
30
40
50
60
70 62
45
% of Projects with + ROI
“If you always do what you always did, you’ll always get what you always got”
Anonymous
If you’re unhappy with your Product Development, change it.
Change = a different way, a different Process
A Proven, yet adaptable methodology – from concept through production
The Finish Line PDS Process
23
4
Requirements Document
Conceptual Design
Detailed Design
Design Verification Testing
1
5 Pilot Production
Requirements
Would you tell me please, which way I ought to go from here?
That depends a great deal on where you want to get to
I don’t much care where…
Then it doesn’t matter which way you go
So long as I get SOMEWHERE
Oh, you’re sure to do that, if you only walk long enough.
If You Don’t Know Where You’re Going…
A Requirements Document Defines Where You are Going
A Requirements Document is Essential
It defines the goal
It provides a vision for the product
It quantifies that vision
It helps to provide clarity of the vision
It forces an understood vision
Types of Requirements Documents
Marketing Requirements Document
Product Requirements Document
Requirements Analysis (Now called Customer Validation)
Technical Requirements Document
Some Things Defined in a Requirements Document
Development budget
Unit manufacturing cost
Compliance: FCC, UL, CE, Standards,
etc.
Functional
Environmental
Design verification testing
Anything that, if not met, means you
will not have a positive return on
investment
Tips for Generating a Requirements Document
Define a budget for the requirements
Set a date that it will be completed
Force everyone to contribute
Use a template
Use a checklist
Formal sign-off:
Engineering / Marketing / Production /
Operations
Controlled document
Decide to Kill / Pivot / Continue
Conceptual Design
What is Conceptual Design?
Conceptual Design is the Process of determining the design concept that satisfies the
requirements best.
“There are more things in heaven and earth, Horatio, than are dreamt of in your philosophy”
William Shakespeare
Why is Conceptual Design Important?
Best to Market Wins…Not First to Market
Ever hear of MPMan?
How about Diamond Rio?
HanGo?
iAudio?
Archos?
Maybe you have heard of the iPod?
Procedure for Conceptual Design
Sort requirements into “defining” and “un-
defining”
Weigh the defining requirements
Develop multiple concepts
Rank concepts against requirements
Highest number wins
What does a Conceptual Design look like?
Requirements Weight Concept # 1 Concept # 2 Concept # 3 Concept # 4Req #1 100 100 100 80 100Req #2 100 60 70 50 40Req #3 75 20 30 35 100Req #4 60 70 60 100 90Req #5 40 100 100 80 60Req #6 20 70 70 70 100Req #7 20 50 75 60 80
TOTAL 28,100 29,750 27,425 32,900
Detail Design
Detail Design Tips
Find reference designs/designers
License other peoples’ technology
Take technology projects off-line
Make a drawing tree
Have design reviews – lots of them
Drawing Tree
Design Verification Testing
Must prove that design meets each
requirement
Proof by testing or analysis; test is better
There are methods for reliability testing –
Life Span & Mean Time Between Failures
Not all compliance testing labs are equal
Never use same engineers for design and
testing
Pilot Production
Start at detail design
Pick a contract manufacturer and make
a long-term relationship
Pick a quality plan
Keep engineers involved
Pay attention to red flags
Root cause & corrective action
Summary
Ideas are worthless without execution
Best to market wins; first to market means
nothing
You get what you pay for
You will fail if you don’t follow a process
It will take a lot longer than you think
It will cost a lot more than you think
Focus on long-term relationships
• Top 10 Reasons Why Product Development
Projects Fail
• Invention Versus Engineering
• Keys to Successful Product Development
• What Every Contract Manufacturer Should
Know About Product Development
• Why Product Development is Different in a
Lean Start-up
Our White Papers
http://www.finishlinepds.com/documents.php
Thank you!