What is it?
A ‘no holds barred’ review meeting to deliver a clear view of what products/technologies could be available to the business in the future. Including as many persons from as many disciplines as possible we’ll ‘brainstorm’ opportunities for the business. Once identified we’ll refine using the combined wisdom of the business, considering all impacting factors including (but not limited to) existing company strategy, market and marketing anticipations, potential, technical feasibility, development constraints/resources, regulatory considerations etc.
’*Attractiveness’ – based on the factors reviewed e.g. market potential, margin achievable against development cost, technical risk, time to market etc.
The output from a Technology Review meeting forms a great start point for development Portfolio Analysis.
2 Portfolio Analysis
Deliverable
What development to invest in. The basis for development activity within the business. Portfolio Analysis transforms the information above into a commitment to develop. By refining and validating the expectations relative to any opportunity the value of the opportunity to the business can be determined. Stand alone or part of a formal development process.
What is it?
Portfolio Analysis is an ongoing activity, reviewed at least 3 monthly, which sets the development direction for the business. One tool here is the Development Funnel used to graphically show potential development opportunities. The funnel consists of discrete development status steps including identification and capture, screening/validation, development, manufacture and launch.
3 Risk Analysis
Deliverable
The support for decision making. A Risk Analysis can be generated for all and any areas of the business. You’ll get most value from a Risk Analysis if an objective to compare the Risk Analysis against is agreed ahead of time.
While it may be technically feasible to assess all the risks relative to a decision it is unlikely to be cost effective. All decisions require a degree of common sense to be applied in order to value what areas need further information and which you are sufficiently informed.
What is it?
For any development activity there is risk. The risk that the forecast opportunity does not exist, that the time to market forecast cannot be met, that the technology proposed cannot meet the product needs, or cannot be manufactured at the anticipated cost. Risk that the regulatory or standards route is more complex or even unachievable.. the list goes on...
To be prudent it’s necessary to inventory risk and determine whether you have sufficient information available to make an informed decision. If not – that’s where we can help. Call us or click here to get more information on how.
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