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