Horses for courses: optimising a new product development process

Abstract

In this article the author aims to illuminate some of the factors that affect the selection and tailoring of process to one's needs. Designing a process is not too different from designing a product. As engineers, we know that almost every attribute of a product is a trade-off. Every benefit has to be bought; often by foregoing or limiting some other benefit, but always by increasing complexity, risk of error, and cost. So a good engineer will not include anything that does not earn its place by the value of its function. For processes, this means you should focus on the controls you need to manage business risk. Every task should have a purpose that generates more value than cost. Your process should be strongest in the areas that matter most to you.