Stories & Features
Have an idea? Looking to partner on a new project? The first step in a new product development project is a proposal. Below are guidelines from IDEX Health & Science on how to create a project proposal engineered for success.
Initial project engagement should clearly define the desired outcome and there should be discussions of perceived challenges to the greatest extent possible. In due course, a product or market manager will collect the information available and draft a New Project Proposal (NPP). The NPP will summarize all answers based on the questions listed in “what is required” from the kickoff meeting. The following information is part of an NPP:
A comprehensive (as much as possible) list of product requirements including form, fit, function, interface (physical connections, communication protocol), software commands, and behavior. This list defines what is required to release the product to a production workflow.
Plan to identify risk that can be defined at any stage of the project life cycle. The team should evaluate identified risks and outline mitigation actions. A risk assessment plan should be periodically updated and broadened as the project increases bearing in mind that risks become more defined with complexity.
Determine the initial timeline to work within, listing specific dates as the core of all goals and objectives. This helps keep the project on track and ensures all core team members can manage the work ahead of them.
The budget determines the boundaries of the project and how money will be allocated to implement the activities described in the proposal. It should give a clear picture of all expenditures involved in carrying out the project.
Identify key stakeholders and potential team members who will be actively involved in the project, or who may be positively or negatively impacted during the implementation of the project. Assign well-defined roles and responsibilities to each member setting clear expectations and understanding of responsibilities. The team definition should include:
Establish communication protocol between project teams and set clear expectations for how and when updates will be shared. Determine who will be responsible for, and who needs to be looped in on, each project communication.
Partner with us for your custom optofluidic system needs. We have the expertise to handle diverse and complex challenges. Our experts can see the big picture and can help you optimize the different parts of the path to come together into one, efficient turn-key solution. Get to market faster and de-risk your product launch.