Product Development Stages
Knowledge, Documentation & Planning
First idea is identified & a detailed documentation on the deliverables & stages of development are defined including the number of resources and allocation per resource.
Resource Identification & Allocation
Core resources are identified & allocated with their update & project performance reporting mechanisms. Helping the end client always be informed about the project metrics.
Execution, Control & Quality Assurance
Execution of the project, control the key metrics, testing and checking if the timelines & Quality assurance guidelines are met. This will help you keep the client updated on project & tasks.
Production & Continued Assistance
Once the project is deployed to production there support team will be handling the after sales support and bug fixes. Also server related issues will be handled on time.
Why Product Development is Important
Product development strategies are important to ensure value for your potential customers, as well as ensuring that there is demand and that your final products are of the highest possible quality before your take the products to market. The very best products also help society improve, whether through the product line itself or through the employment and income generation the new items deliver.
On the business side of things, a new product can improve market share and create growth in a company, providing economic sustainability through new revenue streams. Of course, it can take years for development teams to take a product from the design process through to the point where it is ready to market and distribute. As a result, it is important that a plan is put in place for any new or existing products to be successfully developed.
How we work
Product Development Process
Identify the idea & requirements
First stage would be to identify the idea, find user expectations, what will the role of developers and expertise involved & what will be expected timeline, delivery channels. Based on this a documented is created which will be used through out the development as the project bible.
Planning, Deliverables & Resources
Planning stage will include splitting the project into stages, tasks and setting up milestones. During this stage budgeting will be done & resource requirements will be defined & appointed. This stage will define the start & end of each milestone. Infrastructure decisions will also be made here.
Project Execution & Control , Testing & UAT
Project execution stage is the stage where the application development starts. PM team, Engineering team and Testing division will be working based on the documentation created during the planning phase. Setting up UAT system & client testing systems for client approval.
Support, Bug Fixes & Change Development
Deploying to production after testing& acceptance from client. Infrastructure support AMC for the project. Continuing CR, features updates will be tracked with bug fixes and changes over the code. On call and development support for projects will be provided.
CASE STUDY.
How to Create a Product Development Plan
Identify Market Need
The first stage in creating a product is determining if there is a need for it in the market. By speaking with customers and taking on other research activities, such as test marketing and surveys, you should be able to tell if there is interest in your product and the problems that it will solve.
Quantify the Opportunity
Just because there is a problem to be solved or an indication of market interest, does not necessarily mean that a product should be created. Not every problem needs a product-based solution and there should also be a willingness for a customer to pay the required price for the solution too.
Validate the Solution
Prototype design and creation can be costly, so it is worth taking time to assess and validate your concepts. This assessment can be carried out at a conceptual level to weed out those designs that are not worth pursuing further.