Why do new products fail?
5) Dysfunctional project teams, too many functional silos
An effective cross-functional team is the key to driving project time down
7) Lack of competency, skill, knowledge
Explains itself
1) Me-too, ho hum, trivial products
Fail to excite the customer. Doesn't satisfy a need or solve a problem No VALUE PROPOSITION Gives consumers no reason to switch
3) Lack of customer or user input and insights
Lack of understanding the marketplace and/or customer Bad market research Bad concept testing
2) Weak front-end homework
No technical assessment No financial analysis 80-90% of firms are deficient in doing front-end homework
6) Too many projects in the pipeline, no focus
Overloading the development pipeline. Too many projects are approved at the early Go/Kill gates
4) Unstable product specs and project scope creep
Unstable project and product definitions Number 1 cause of delays later in project Scope of project can change, delaying project