Studies show that 40%* of the new products that make it to market deliver disappointing results...
...this doesn’t even include the products that didn't make it out of the development stages, wasting valuable resources and creating delays with other product launches that could have been successful.
*Source: Myths About New Product Failure Rates” George Castellion & Stephen K. Markham, Journal of Product Innovation & Management30 pp. 976-979 (2013) http://goo.gl/M88dA5
Rapid Learning Cycles is right for you if:
Do you have one or more of these?
- Your projects are often delivered later than promised due to late design changes.
- Or you get products to market on time and accept higher development, tooling, production and/or warranty costs in order to fix late-found defects in time for launch.
- You think you may be missing on opportunities because teams can't do more.
- Customers know not to buy Version 1.0 of any new product you release.
- It just feels like product development shouldn't take so long for the types of products your company produces.
- Your last attempted product launch didn't succeed in the market.
- You struggle to launch even simple line extensions and modest improvements.
The root cause of disappointing results in product development
Katherine's work traced this disappointment back to a common root cause: a specific type of decision that frequently triggered late design changes that added cost, risk and schedule delays.
The Rapid Learning Cycles Solution
When teams identify these decisions early and make sure that the final decisions are first-time right, they eliminate a lot of unnecessary work: redesign loops, re-testing, fixing production tools, re-negotiating with suppliers, failed system integrations and so on.
As a result, teams launch the right products at the right time, at the right price. Overall ROI goes up for the investment in R & D and the company is poised for growth.
How to Speed Up Your Product Development Process with Rapid Learning Cycles
Michał Witkowicz, R&D Excellence Program Leader at Sonion, shares some of the benefits his team gained by using the Rapid Learning Cycles framework.
