BUS 528 Week 2 Assignment A-1

Assignment A-1

Chapter 1 ideas- Project Management in A changing world.

'2E'- efficiency and effectiveness is by far the key discipline for project management. I was exposed to Robert Cooper - Stage Gate process that emphasizes the 2E. It's my first approach on the originator of this idea on New Product Development that i experienced for years. It caught my attention and i decided to do more reading on Stage Gate.

The Stage-Gate process is a detailed and careful designed business process to understand what discriminates product success and failure. It is the world’s most widely implemented and trusted product innovation process.

The process is a conceptual and operational roadmap for moving a new product project from idea to market launch.
It gives us the idea to divide the effort into stages separated by management decision gates. Cross-functional teams must successfully complete a prescribed set of related cross-functional tasks in each stage prior to obtaining management approval to proceed to the next stage of product development.

The entrance of each stage is called as Gates. To pass the gates, these are the criteria:

1. Quality Control
2. Readiness Check - ok or not?
3. Marker for action plan for next stage.

The Stages in the model process are:

1. Scoping
2. Build the Business Case
3. Development
4. Testing and validation
5. Launch

The benefits of Stage-Gate:

1. Well Organized innovation
2. provide competitive advantage
3. Accelerate product development with the product life cycle study.
4. Increase success chance of new products.
5. Helps to guid ethe project to the right path or objective.
6. Provides overview and outlook
7. Cross functional
8. Can be combine with others performance metrics - net present value.