TAMING TECHNOLOGY - GEOFF VINCENT

TAMING TECHNOLOGY -
HOW TO MANAGE A DEVELOPMENT PROJECT
1
In the modern environment of competition, from home and abroad, companies must adopt a
competitive approach to development. Development is one of the last functions to be fully
integrated into the mainstream of business life. Yet, it has never been so crucial to success.
Market Opportunte!"
Every development project starts with the perception of an opportunity. The better this is
characterised, the easier it will be to judge the levels of expenditure and ris that are justified.
Identifying the patterns by which technology creates new products ! services and exploiting them
early gives the company a significant competitive advantage.
T#o $a%tor! to &e %on!'ere'" Market tren'! an' Te%(no)o*%a) Opportunte!
Either a significant movement or a slow change in one of these factors, which finally crosses the
barrier of economic feasibility, can create a new business opportunity.
Injection of a new technology to existing business will lead to more effective product or service.
Technology can mae an existing product cheaper or easier to use. " completely new opportunity
may emerge when two or more technologies converge to mae possible a novel application. " key
enabling technology spawns a host of new subsidiary applications in diverse areas, many of which
can grow into major businesses.
R!k +!, -ene$t!
Development inevitably involves ris. #is can never be eliminated, but it can be understood,
evaluated and managed. Development ris has always to be balanced against the certainty that,
without it, every business will sooner or later be taen over by the competition. " more challenging
development if it succeeds, assuming it is well targeted, is liely to bring higher rewards. $owever,
a high%ris project stands more chance of failing due to inherent technical and mareting
difficulties. " low ris project on the other hand, has a very high chance to succeed, but the benefit
will be small. There is a ris window, which represents the best value of investment for the
business.
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'y (eoff )incent. *ublished by +ogan *age ,td. In association with 'ritish Institute of -anagement
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TAMING TECHNOLOGY - GEOFF VINCENT
PROD7CT DEVELOPMENT PROCE88
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MAR9ET 9NOWLEDGE
TECHNOLOGY APPRECIATION
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TECHNICAL: MAR9ET:
PROD7CTION: FINANCIAL
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PROOF OF PRINCIPLE
PROTOTYPE PROD7CT
PROTOTYPE DOC7MENTATION
PROD7CTION DOC7MENTATION
TE8T MODEL8
78ER REACTION8
MAR9ETING