A final stage of product testing in which the product is subjected to a series of extreme conditions (e.g., high temperatures or extremely heavy use) to ensure that it can withstand any situation that might occur during its lifetime.
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NPD Jargon Buster: Technology Transfer
Technology transfer is a bit like trying to get a cat into a bathtub. Y
Read onNPD Jargon Buster: Technology-Driven
A new product or new product strategy based on the strength of a technical capability. Sometimes called "solutions in search of problems."
Read onNPD Jargon Buster: Test Markets
A test market is like dipping your toe in the water before jumping in the deep end.
Read onNPD Jargon Buster: Time-to-Market
Time to market is the length of time it takes to develop a new product, from an early initial idea for a new product to initial market sales.
Read onNPD Jargon Buster: Total Quality Management
Total Quality Management comprehensively and continuously involves all an organisation's functions in improvement activities.
Read onNPD Jargon Buster: Triple Constraint
The triple constraint is the combination of the three most significant restrictions on any project: scope, schedule and cost.
Read onNPD Jargon Buster: Fuzzy Front End
The Fuzzy Front End is the messy "getting started" period of product development when the product concept is still very fuzzy.
Read onNPD Jargon Buster: Work Plan
A detailed plan for executing a project, identifying each phase of the project, the significant steps associated with them, and the specific tasks to be performed.
Read onNPD Jargon Buster: Whole Product
The term "whole product" refers to a product definition concept that emphasises delivering all aspects of a product which are required for it to have its full value.
Read onNPD Jargon Buster: Value Proposition
A value proposition is a short, clear, and simple statement of how and on what dimensions a product concept will deliver value to prospective customers.
Read onNPD Jargon Buster: Corporate Strategy
A corporate strategy is a vital tool for ensuring that a company's product development efforts are aligned with its overall business goals.
Read onNPD Jargon Buster: Corporate Culture
Corporate culture can be defined as the "feel" of an organisation. Culture arises from the belief system through which an organisation operates.
Read onNPD Jargon Buster: Core Competence
Core competence is a company's unique ability to provide customers with a distinctive competitive advantage.
Read onNPD Jargon Buster: Core Benefit Proposition
The Core Benefit Proposition (CBP) is the central benefit or purpose for a consumer buying a product.
Read onNPD Jargon Buster: Convergent Thinking
Convergent thinking is a technique used to narrow down a large number of ideas into a smaller group or a single idea.
Read onNPD Jargon Buster: Ambidexterity
Ambidexterity is a vital skill in today's business world. Organisations must be able to balance exploitation and exploration to stay afloat.
Read onNPD Jargon Buster: Consumer Need
In product development, a consumer need is a problem that the consumer would like to have solved. It is also what consumers would like a product to do for them.
Read onNPD Jargon Buster: Consumer Market
The consumer market is the market for goods and services purchased by individuals and households rather than businesses.
Read onNPD Jargon Buster: Consumer
In the context of product development, a consumer is defined as the most generic and all-encompassing term for a firm's targets.
Read onNPD Jargon Buster: Conjoint Analysis
Conjoint analysis is a market research technique in which respondents are systematically presented with a rotating set of product descriptions.
Read onNPD Jargon Buster: Concurrent Engineering (CE)
Concurrent Engineering (CE) is a methodology used in product development that emphasizes concurrent development of the product and manufacturing process.
Read onNPD Jargon Buster: Concept Screening
Concept screening evaluates potential new product concepts during the discovery phase of a product development project.
Read onNPD Jargon Buster: Concept Generation
Concept generation generates new ideas or concepts for products or services; this can be done individually or in groups.
Read onNPD Jargon Buster: Concept
A product concept is a description of a new product idea that includes its primary features and consumer benefits.
Read onNPD Jargon Buster: Competitive Intelligence
Competitive intelligence (CI) is a broad practice of collecting, analyzing, and communicating the best available information on competitive trends externally.
Read onNPD Jargon Buster: Commercialisation
Commercialisation is the process of taking a new product from development to market. I
Read onNPD Jargon Buster: Co-location
Co-location refers to the physical act of locating project personnel in one area; this enables more rapid and frequent decision-making and communication among them.
Read onNPD Jargon Buster: Collaborative Product Development
Collaborative product development (CPD) is when two or more firms work together to create and bring a new product to market.
Read onNPD Jargon Buster: Circular Economy
The circular economy is an economic system that is restorative and regenerative by design.
Read onNPD Jargon Buster: Checklist
A checklist can be used to help identify all of the necessary steps in the development process, and to ensure that each step is completed properly.
Read onNPD Jargon Buster: Charter
In product development, a charter is a document defining the context, specific details, and plans of a project.
Read onNPD Jargon Buster: Champion
A champion is a person who takes a passionate interest in seeing that a particular process or product is fully developed and marketed.
Read onNPD Jargon Buster: Centres of Excellence
A Center of Excellence (CoE) is an organizational or geographic unit with an acknowledged technical, business, or competitive competency.
Read onNPD Jargon Buster: Cash Cow
Cash cows are products with a high share of a market with low overall growth.
Read onNPD Jargon Buster: Carbon Credits
Carbon credits are a type of offset that can balance out emissions from businesses and other entities.
Read onNPD Jargon Buster: Capacity Planning
Capacity planning is a technique used in product development to ensure that the right mix of resources is available to develop a product on time.
Read onNPD Jargon Buster: Cannibalisation
Cannibalisation is the portion of the demand for a new product that comes from the erosion of the demand for (sales of) a current product the firm markets.
Read onNPD Jargon Buster: Buyer
A buyer is the person who purchases a product, whether or not they will be the ultimate user.
Read onNPD Jargon Buster: Business-to-Business (B2B)
Business-to-business (B2B) can be characterized as a business model that involves one business entity selling products or services to another business entity.
Read onNPD Jargon Buster: Business Case
A business case is the result of the market, technical, and financial analyses conducted during the product development process.
Read onNPD Jargon Buster: Business Analysis
Business analysis is the process of reviewing the business situation surrounding a proposed project and developing a financial plan for the project.
Read onNPD Jargon Buster: Breakthrough Projects (aka Radical or Disruptive)
Breakthrough projects are those that strive to bring a new product to the market with new technologies; and depart significantly from existing organizational practices.
Read onNPD Jargon Buster: Breakeven Point
The breakeven point is the point in the commercial life of a product when cumulative development costs are recovered through accrued profits from sales.
Read onNPD Jargon Buster: Brand
A brand is a name, term, design, symbol, or other feature that identifies a seller's product or service as distinct from those of other sellers.
Read onNPD Jargon Buster: Brainstorming
Brainstorming is a group method of creative problem-solving frequently used in product concept generation.
Read onNPD Jargon Buster: Bottom-up Portfolio Selection
The bottom-up approach to portfolio selection starts with a list of individual projects and narrows it down through a process of evaluation and screening.
Read onNPD Jargon Buster: Bowling Alley
A bowling alley is a type of early stage business strategy that emphasizes focused growth in specific niche markets.
Read onNPD Jargon Buster: Bill of Materials (BOM)
The Bill of Materials is a critical tool in product development. Essentially, it is a list of all the subassemblies, intermediate parts, and raw materials that are needed
Read onNPD Jargon Buster: Best Practice
There's no magic formula for developing successful products, but there are certain best practices that tend to improve the odds.
Read onNPD Jargon Buster: Benefit
In product development, a benefit is an attribute expressed in what the user gets from the product rather than its physical characteristics or features.
Read onNPD Jargon Buster: Benchmarking
If you want to develop a new product, you'll need to benchmark its performance against similar products. This process is known as benchmarking.
Read onNPD Jargon Buster: Balanced Scorecard
The Balanced Scorecard is a comprehensive performance measurement technique that balances four performance dimensions.
Read onNPD Jargon Buster: Balanced Portfolio
A balanced portfolio is one where the proportion of product development projects in specific categories focuses on strategic priorities.
Read onNPD Jargon Buster: Backup
The lead project is the one that's moving ahead in development, while the backup task is lagging (or working in sync) to provide an alternative asset should the lead proj
Read onNPD Jargon Buster: Technical Debt
Technical debt is the term used to describe the extra development work that is caused by taking shortcuts when building a product.
Read onNPD Jargon Buster: Waterfall Product Development
The waterfall product development process is a linear approach to development where each phase must be completed before moving on to the next.
Read onNPD Jargon Buster: Time to Market (TTM)
Time to market (TTM) is a measure of the elapsed time from when a product idea is conceived until when it is available for sale.
Read onNPD Jargon Buster: Total Addressable Market (TAM)
The Total Addressable Market (TAM) is the total amount of revenue that a company can generate by selling its products or services to its target market.
Read onNPD Jargon Buster: Triple Bottom Line
The Triple Bottom Line is a product development philosophy that takes into account, not just the financial bottom line, but also the social and environmental impact.
Read onNPD Jargon Buster: Voice Of The Customer (VOC)
The Voice of the Customer, or VOC, is an important concept in product development. Simply put, it refers to the needs and wants of your target market.
Read onNPD Jargon Buster: Vanity Metrics
Vanity metrics are those product development metrics that make us feel good but don't necessarily translate into real success.
Read onNPD Jargon Buster: Porter's Diamond Model
Porter's Diamond Model is a framework for identifying the factors that contribute to the competitive advantage of a nation or region.
Read onNPD Jargon Buster: Ansoff Matrix
The Ansoff Matrix is a tool used by businesses to help them plan their product development.
Read onNPD Jargon Buster: Boston Matrix
The Boston Matrix is a tool used by businesses to help them make decisions about product development.
Read onNPD Jargon Buster: User Story
A user story is a description of a feature or requirement from the perspective of the person who wants it.
Read onNPD Jargon Buster: User Persona (or Avatar)
A user persona is a fictional character that represents a specific type of user of a product or service.
Read onNPD Jargon Buster: Acceptance Testing
Acceptance testing is a process in product development whereby a prototype or product is heavy-duty and subjected to realistic environments and conditions.
Read onNPD Jargon Buster: Acceptance Test Specification (ATS)
An acceptance test specification (ATS) is a document that defines the criteria that a product must meet in order to be accepted by the customer.
Read onNPD Jargon Buster: Acceptance Test Procedure (ATP)
An acceptance test procedure (ATP) is a type of testing that is used to ensure that a product meets the specific requirements of the customer or client.
Read onNPD Jargon Buster: Awareness
Awareness is a key metric in product development, as it helps to gauge how well a new product is being received by the target market.
Read onNPD Jargon Buster: Autonomous Team
An autonomous team is a product development team that is completely self-sufficient, with very little need for input or supervision from the funding organization.
Read onNPD Jargon Buster: Augmented Product
The augmented product is the core product, plus all other sources of product benefits, such as service, warranty, and image.
Read onNPD Jargon Buster: Audit
An audit of new product development is an appraisal of the effectiveness of the processes by which the new product was developed and brought to market.
Read onNPD Jargon Buster: Attribute Testing
Attribute testing is a quantitative market research technique in which respondents are asked to rate a detailed list of product or category attributes
Read onNPD Jargon Buster: As-Is-Map
In product development, an as-is map is a version of a process map that depicts how an existing process actually operates.
Read onNPD Jargon Buster: Anticipatory Failure Determination (AFD)
Anticipatory Failure Determination (AFD) is a failure analysis method used in product development.
Read onNPD Jargon Buster: Analyser
"Analyser" is a term used in the business world to describe a company that follows an imitative innovation strategy.
Read onNPD Jargon Buster: Analytical Hierarchy Process
The Analytical Hierarchy Process (AHP) is a decision-making tool for product development and other complex multi-criteria problems where both qualitative and quantitative
Read onNPD Jargon Buster: Beta Testing
Testing of a product by customers under real-world conditions.
Read onNPD Jargon Buster: Alliance
In product development, an alliance is a formal arrangement with a separate company for the purposes of shared risk and reward.
Read onNPD Jargon Buster: Agile Product Development
Agile product development is an iterative approach to product development that is performed in a collaborative environment by self-organizing teams.
Read onNPD Jargon Buster: Affinity Charting
Affinity charting is a "bottom-up" technique for discovering connections between pieces of data.
Read onNPD Jargon Buster: Adoption Curve
The adoption curve is the journey that consumers or a market take when adopting a new product or technology.
Read onNPD Jargon Buster: Accidental Discovery
Accidental discovery is a new design, idea, or development from unexpected insight; this can be obtained from within the organization or from an external source.
Read onNPD Jargon Buster: Use Case
It helps you understand what people need from your product, and how you can design something that meets their needs.
Read onNPD Jargon Buster: Usability Testing
Usability testing is a process in which potential users of a product are asked to use it in order to assess its strengths and weaknesses.
Read onNPD Jargon Buster: Unique Selling Proposition (USP)
And it's even harder to keep their attention when they're bombarded with advertising from all sides. How can you make sure your product stands out?
Read onNPD Jargon Buster: TRIZ (The Theory of Inventive Problem-Solving)
TRIZ works by understanding the relationships between different elements in a problem and then using that knowledge to find solutions.
Read onNPD Jargon Buster: Work Package
The next and final document in this list is the Work Package (WP) and this is a document that essentially encompasses a set of project tasks.
Read onNPD Jargon Buster: Quality Register
A Quality Register is a document that is produced to record activities that relate to quality. It attempts to control quality and any changes to it.
Read onNPD Jargon Buster: Project Product Description
The next document is a Project Product Description, somewhat like the Product Description.
Read onNPD Jargon Buster: Project Initiation Documentation (PID)
The next document is th Project Initiation Documentation or PID for short. This documentation is arguably the most important of any within the PRINCE2 project management
Read onNPD Jargon Buster: Product Status Account
The Product Status Account breaks down the current product status, by communicating information such as test results, current cost status and varying factors.
Read onNPD Jargon Buster: Product Description
The next document is the Product Description, and this is relatively self-explanatory. The outputs of the project may be a service, a product, or it could be both.
Read onNPD Jargon Buster: Unarticulated Customer Needs
Even if you do your research and ask customers what they want, sometimes they can't articulate their real needs. They might not even be aware of them themselves.
Read onWhat are Manufacturing Readiness Levels (MRLs)?
MRLs are quantitative measures used to assess the maturity of a given technology, component or system from a manufacturing perspective.
Read onNPD Jargon Buster: Risk-Adjusted Net Present Value (ANPV)
In order to make sound decisions about product development, it's important to have a way to adjust for the inherent risk in early-stage projects.
Read onNPD Jargon Buster: Net Present Value (NPV)
NPV, or Net Present Value, is one of the most common measures of NPD programs and of the portfolio.
Read onJoin 70+ companies accelerating their product development with Innovolo
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