Product Development Lifecycle

This course provides a holistic understanding of the process of developing new products and provides a detailed insight into each stage in the process. The course provides the tools and techniques involved at each stage to provide insight into what is required to develop and introduce new products to the market. The course begins with providing an overview of the product development lifecycle and then covers the phases involved in the process starting from idea generation through the development of a minimum viable product. The course provides a firm foundation for professionals seeking to build and launch products in the marketplace.

Course Learning Objectives:

  • Gain an understanding of the product development process and its various phases.
  • Understand the role of ideation in product development, familiarize with the key skill required for idea generation, and learn the techniques for effective ideation.
  • Learn the techniques of screening and selecting the most promising product ideas.
  • Learn the process of building a product concept and gain an understanding into overcoming challenges in developing a product concept.
  • Discover the role of concept testing in product development and learn methods to test product concepts.
  • Familiarize with the various business analyses required to determine product success and determine the Business Analysts’ role in product development.
  • Know the various types of product prototypes and learn the process of rapidly developing one for your product.
  • Learn the process of developing Minimum Viable Prototype (MVP), and through the examples of leading companies, learn to build one for your product.

Syllabus

Learning Objectives:
  • Gain an understanding of the product development process and its various phases.
Module Components:

Readings:

  • The New Product Development Lifecyle
  • Example: Nike’s New Product Development Process

Quiz:

  • Product Development Lifecycle Overview – Quiz
Learning Objectives:
  • Understand the role of ideation in product development, familiarize with the key skill required for idea generation, and learn the techniques for effective ideation.
Module Components:

Video Lectures:

  • Ideation: What and How?
  • Ideas are Generated from Anywhere
  • Divergent and Convergent Thinking in Ideation
  • The Process and Applications of Brainstorming in Ideation
  • The Six Thinking Hats Ideation Method and its Application
  • The SCAMPER Technique in Ideation

Readings:

  • The Fundamentals of Brainstorming
  • The Reverse Brainstorming Technique in Ideation
  • Key Considerations in Applying SCAMPER to Ideation
  • Other Ideation Techniques

Quiz:

  • Idea Generation – Quiz
Learning Objectives:
  • Learn the techniques of screening and selecting the most promising product ideas.
Module Components:

Video Lectures:

  • What is Idea Screening?
  • Cost-Benefit Evaluation
  • Kano Model for Idea Screening

Readings:

  • Detailed Explanation of Cost-Benefit Evaluation
  • Detailed Explanation of Kano Model
  • Decision-Matrix Evaluation

Quiz:

  • Idea Screening – Quiz
Learning Objectives:
  • Learn the process of building a product concept and gain an understanding into overcoming challenges in developing a product concept.
Module Components:

Video Lectures:

  • Product Concept Development and Its Importance
  • Overcoming Challenges in Product Conceptualization

Readings:

  • What is a Product Concept?
  • The Process of Creating a Product Concept
  • Example: Creating the Concept of an App

Quiz:

  • Concept Development – Quiz

 

Learning Objectives:
  • Discover the role of concept testing in product development and learn methods to test product concepts.
Module Components:

Video Lectures:

  • The Need for Concept Testing
  • Qualitative Methods of Concept Testing
  • Quantitative Methods of Concept Testing
  • Example: Product Concept Testing in Retail

Readings:

  • Concept Testing: Introduction
  • Qualitative Methods: In-Depth Interviews, Focus Group, & Online Research
  • Using Data to Surface the Best Ideas
  • Quantitative Methods: Monadic vs. Sequential Testing

Quiz:

  • Concept Testing – Quiz

 

Learning Objectives:
  • Familiarize with the various business analyses required to determine product success and determine the Business Analysts’ role in product development.
Module Components:

Video Lectures:

  • Role of a Business Analyst in Product Development
  • Sales Forecasting Techniques
  • Break-Even Point Estimation

Readings:

  • Example: Role of a Business Analyst in Software Development
  • Detailed Explanation of Sales Forecasting Techniques
  • Manufacturing Cost Estimation
  • Demand Forecasting

Quiz:

  • Product Business Analysis – Quiz
Learning Objectives:
  • Know the various types of product prototypes and learn the process of rapidly developing one for your product.
Module Components:

Video Lectures:

  • What is Prototyping?
  • Sketching or Paper Prototyping
  • Digital Prototyping
  • Native Prototyping for IT Software Products

Readings:

  • Kinds of Prototypes
  • Steps to Creating a Prototype
  • Rapid Prototyping and Its Types
  • Native Prototyping for Hardware Products

Quiz:

  • Prototyping – Quiz
Learning Objectives:
  • Learn the process of developing Minimum Viable Prototype (MVP), and through the examples of leading companies, learn to build one for your product.
Module Components:

Video Lectures:

  • Minimum Viable Products (MVPs) and Their Benefits
  • Difference Between MVPs and Prototypes

Readings:

  • Steps to Building an MVP
  • How Uber, AirBnB and Dropbox Prototyped for Rapid Growth

Quiz:

  • Minimum Viable Product (MVP) – Quiz

Support

Please email support@northwest.academy for any support required with respect to the program, course or platform.