TEI 012: Applying Lean Product Development for a 50% Time Reduction

Global Product Management Talk is pleased to bring you episode 012
of... The Everyday Innovator with host Chad McAllister, PhD.
The podcast is all about helping people involved in developing and
managing products become more successful, grow their careers, and
STANDOUT from their peers. Our Guest:  David Paulson has over
20 years of product development experience and still remembers his
first day at work. That’s when he found out how inefficient the
product development process was. He’s been working to fix that ever
since. Highlights from the discussion include: Apply Lean product
development to cut time to market in half and create successful
products – something all innovators want to know how to
accomplish!Lean has many different definitions, but in the product
development context, it has three specific characteristics: (1)
focus on value to the customer, (2) rapidly learn, and (3) maximize
desired results while minimizing effort.In addition to the benefits
of creating more profitable products, applying Lean product
development also impacts the organizational culture, resulting in
happier and more effective employees.First time David applied Lean
product development to a project, the time-to-market decreased from
the expected 30 months to 12 months, finished 20% under budget, and
generated an additional $3 million profit by being early to
market.Good books on the topic of Lean product development are from
Don Reinersten, including “Managing the Design Factory” and “The
Principles of Product Development Flow.” Read “Managing the Design
Factory” first.