Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.
Chapter Six: Concept Evaluation
Once a set of product concepts has been generated, an evaluation of each concept is conducted. The purpose of concept evaluation is to refine the set of concepts to determine those that should continue in the product development process. Naturally, the decision regarding how many concepts can proceed in the product development process will depend on the resources available.
Five general approaches can be used to evaluate concepts. In most cases, these approaches are used together to achieve a broader perspective of which concepts should be continued. These approaches include the product development charter review, concept testing, scoring models, snake plots, and financial analysis.
Product Development Charter Review
In a product development charter (PDC) review, the management team or project team evaluates the respective product ...