New Concept evaluation with planning & execution proposals Essay

New Concept evaluation with planning & execution proposals - Essay Example As Griffin’s model above indicates, the addition of a new product line is the riskiest venture that a company can undertake so careful planning and execution is required to avoid negative cost and schedule variances. In addition, dehumidifiers are already market available so consumer perspectives need to be taken into account to deal with concerns with existing competition. The customer will be treated as a co-creator for the current project as explained by Nambisan (2002). In order to pursue product development for the proposed dehumidifier, a gate stage model will be used to plan various stages and oversee their productive gains from concept to final market product. This report will discuss the various phases, their gated formations and checks available to ensure a smooth product development process for the proposed dehumidifier. The stage-gate (alternatively phase-gate) technique is utilised in project management when dealing with new product development. Product development processes are broken down into various phases that are limited by the presence of gates. Each phase has its own sets of objectives to achieve. Once these objectives are achieved, the selected gatekeepers review the progress and decide if the project is to be moved into the next stage or if it is to be revised or rejected altogether. The iterative character of the entire process ensures that risks are minimised, contingencies are adapted for and that the project remains as market relevant as possible (Chao et al., 2005). The zero phase is intended to allow for project management planning through the confluence of different departments that would need to corroborate for product development. This phase also known as â€Å"fuzzy front end† is aimed to solicit ideas from various team members in order to decide if the idea is workable in the given circumstance and to