DEVELOPING NEW PRODUCTS ON TIME, IN TIME

Accelerated product development is key to new product success. But mos t prescriptions for cycle time reduction are based on little hard evid ence. This article reports the results of an extensive study of 103 ne w product projects, with a particular focus on the drivers of both red uced cycle time (on-schedule performance and time-efficient developmen ts) and profitability. The use of a true cross-functional team, undert aking solid up-front homework before development began, a strong marke t orientation (building in ''the voice of the customer''), quality of execution, and getting sharp, early product definition were some of th e common ingredients of projects that were both on time and fast-to-ma rket. While profitability and speed were linked, there was not the one -to-one relationship that many imagine. Finally, developing a unique, superior product which delivered real value to the customer was no les s time efficient than developing ''me-too'' products.