ExPD is taking the 50+ year old traditional approach to developing products to task.
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Chicago, IL (PRWEB) September 13, 2016
Strategy 2 Market® announces a pilot program that is based on an innovative approach to developing products, called Exploratory PD™ (ExPD). ExPD is vastly different from the traditional phased-and-gated approach to developing products. This pilot program is a low-risk way for companies to try ExPD.
The Problem: Over the last 50 years, the traditional phased-and-gated process has been institutionalized in most companies. This traditional process is based on prescribed activities for a stable or slowly evolving world. As a result, it is slow and cumbersome, and cannot easily adapt to uncertainty and changes in the external environment caused by increased competition, globalization and new technologies.
The Solution: ExPD is taking the traditional approach to developing products to task with an approach designed for today’s rapidly evolving world. ExPD handles uncertainty, adapts to external changes, improves time to market, explicitly identifies and runs down risks and streamlines the product development process.
9 major benefits of ExPD include:
2. Strategic alignment
3. Making uncertainties visible throughout the project
4. Developing products that start with the customer
5. Real-time project prioritization and resource optimization
6. Learning fast from key uncertainties and killing projects quickly
8. Decreased bureaucracy and paperwork
9. Better decision-making through team empowerment
This pilot is targeted towards companies that are interested in doing product development differently, especially for mid-sized and large enterprise companies. An ExPD pilot was conducted at a division of a Fortune 500 company, and the VP or Engineering stated: “We are looking at this approach. For many projects, the phased and gated methodology is too heavy and prescriptive. ExPD looks like it will provide flexibility and keep the focus on answering the right questions sooner.”
Mary Drotar and Kathy Morrissey both partners at Strategy 2 Market, are co-authoring a book on ExPD.
Strategy 2 Market is a product development consulting firm that helps companies increase growth and decrease product development complexity.