New Product Development

5. Project Management

Having formed the project team and agreed that the new product is commercially and technically viable, you need to get the details right.

5.1 The team leader should decide the key parameters for the product specification.

5.2 Where appropriate, allow each individual to decide the more detailed specifications, within these agreed parameters.

• By allowing individuals to take personal responsibility for each part of the project, you end up with a highly-motivated team.
• Use a series of SMART objectives (specific, measurable, agreed, realistic, time-limited) to control progress. This helps to identify problem areas that you can then focus on.

5.3 Draw up a critical path diagram, showing the order in which tasks must be completed.

• By agreeing some working assumptions, your team can start work on different bits of the jigsaw puzzle.
• For major projects involving several people, use a project management package. For example, Microsoft Project or Mac Project.This allows you to schedule in factors such as people's other commitments. You can then spot likely delays and bottlenecks.

5.4 As the project proceeds, you usually need to adjust the spec and planning assumptions.

• When you show customers the prototype, you may be forced to re-think the whole product, in the light of feedback received.
• Keep asking yourself if the project will meet its commercial objectives.