A user story is a description of a feature or requirement from the perspective of the person who wants it.
A user story is a description of a feature or requirement from the perspective of the person who wants it. It is written in the language of the customer, and typically follows the template "As a _____, I want _____ so that _____." User stories are used in agile product development to capture the requirements of a feature from the customer's perspective.
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 onThe consumer market is the market for goods and services purchased by individuals and households rather than businesses.
Read onIn the context of product development, a consumer is defined as the most generic and all-encompassing term for a firm's targets.
Read onProduct features are great. They’re an important selling point for many customers. But they also have a downside.
Read onConjoint analysis is a market research technique in which respondents are systematically presented with a rotating set of product descriptions.
Read onConcurrent Engineering (CE) is a methodology used in product development that emphasizes concurrent development of the product and manufacturing process.
Read onConcept screening evaluates potential new product concepts during the discovery phase of a product development project.
Read onConcept generation generates new ideas or concepts for products or services; this can be done individually or in groups.
Read onA product concept is a description of a new product idea that includes its primary features and consumer benefits.
Read onCompetitive intelligence (CI) is a broad practice of collecting, analyzing, and communicating the best available information on competitive trends externally.
Read onCommercialisation is the process of taking a new product from development to market. I
Read onCo-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 onCollaborative product development (CPD) is when two or more firms work together to create and bring a new product to market.
Read onThe circular economy is an economic system that is restorative and regenerative by design.
Read onA 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 onIn product development, a charter is a document defining the context, specific details, and plans of a project.
Read onA champion is a person who takes a passionate interest in seeing that a particular process or product is fully developed and marketed.
Read onA Center of Excellence (CoE) is an organizational or geographic unit with an acknowledged technical, business, or competitive competency.
Read onCash cows are products with a high share of a market with low overall growth.
Read onCarbon credits are a type of offset that can balance out emissions from businesses and other entities.
Read onCapacity 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 onCannibalisation 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 onA buyer is the person who purchases a product, whether or not they will be the ultimate user.
Read onBusiness-to-business (B2B) can be characterized as a business model that involves one business entity selling products or services to another business entity.
Read onA business case is the result of the market, technical, and financial analyses conducted during the product development process.
Read onBusiness analysis is the process of reviewing the business situation surrounding a proposed project and developing a financial plan for the project.
Read onBreakthrough projects are those that strive to bring a new product to the market with new technologies; and depart significantly from existing organizational practices.
Read onThe breakeven point is the point in the commercial life of a product when cumulative development costs are recovered through accrued profits from sales.
Read onA 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 onBrainstorming is a group method of creative problem-solving frequently used in product concept generation.
Read onThe 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 onA bowling alley is a type of early stage business strategy that emphasizes focused growth in specific niche markets.
Read onThe 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 onThere's no magic formula for developing successful products, but there are certain best practices that tend to improve the odds.
Read onIn product development, a benefit is an attribute expressed in what the user gets from the product rather than its physical characteristics or features.
Read onIf you want to develop a new product, you'll need to benchmark its performance against similar products. This process is known as benchmarking.
Read onThe Balanced Scorecard is a comprehensive performance measurement technique that balances four performance dimensions.
Read onA balanced portfolio is one where the proportion of product development projects in specific categories focuses on strategic priorities.
Read onThe 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 onTechnical debt is the term used to describe the extra development work that is caused by taking shortcuts when building a product.
Read onThe waterfall product development process is a linear approach to development where each phase must be completed before moving on to the next.
Read onTime 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 onThe 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 onThe 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 onThe 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 onVanity metrics are those product development metrics that make us feel good but don't necessarily translate into real success.
Read onPorter's Diamond Model is a framework for identifying the factors that contribute to the competitive advantage of a nation or region.
Read onThe Ansoff Matrix is a tool used by businesses to help them plan their product development.
Read onThe Boston Matrix is a tool used by businesses to help them make decisions about product development.
Read onA user story is a description of a feature or requirement from the perspective of the person who wants it.
Read onA user persona is a fictional character that represents a specific type of user of a product or service.
Read onAcceptance testing is a process in product development whereby a prototype or product is heavy-duty and subjected to realistic environments and conditions.
Read onAn 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 onAn 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 onAwareness 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 onAn 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 onThe augmented product is the core product, plus all other sources of product benefits, such as service, warranty, and image.
Read onAn 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 onAttribute testing is a quantitative market research technique in which respondents are asked to rate a detailed list of product or category attributes
Read onIn product development, an as-is map is a version of a process map that depicts how an existing process actually operates.
Read onAnticipatory Failure Determination (AFD) is a failure analysis method used in product development.
Read on"Analyser" is a term used in the business world to describe a company that follows an imitative innovation strategy.
Read onThe Analytical Hierarchy Process (AHP) is a decision-making tool for product development and other complex multi-criteria problems where both qualitative and quantitative
Read onA 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 ca
Read onTesting of a product by customers under real-world conditions.
Read onIn product development, an alliance is a formal arrangement with a separate company for the purposes of shared risk and reward.
Read onAgile product development is an iterative approach to product development that is performed in a collaborative environment by self-organizing teams.
Read onAffinity charting is a "bottom-up" technique for discovering connections between pieces of data.
Read onThe adoption curve is the journey that consumers or a market take when adopting a new product or technology.
Read onAccidental 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 onIt helps you understand what people need from your product, and how you can design something that meets their needs.
Read onUsability 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 onAnd 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 onTRIZ works by understanding the relationships between different elements in a problem and then using that knowledge to find solutions.
Read onThe 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 onA 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 onThe next document is a Project Product Description, somewhat like the Product Description.
Read onThe 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 onThe Product Status Account breaks down the current product status, by communicating information such as test results, current cost status and varying factors.
Read onThe 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 onEven 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 onMRLs are quantitative measures used to assess the maturity of a given technology, component or system from a manufacturing perspective.
Read onIn 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 onNPV, or Net Present Value, is one of the most common measures of NPD programs and of the portfolio.
Read onAdditive manufacturing offers an innovative solution that can help companies shorten their design cycles while still producing high-quality products.
Read onActivity-based costing (ABC) is an accounting method for assigning costs of production activities to products based on the consumption of those activities by the product.
Read onActive listening is a great way to improve communication in a product development project.
Read onARIZ is a tool for thinking in alternative directions to solve non-standard or complicated problems.
Read onClients will ask the difference between chemistry and chemical engineering because on different occasions they mean different things to them.
Read onIdea fixation can be explained as being too attached to one's own ideas.
Read onA PCB is a printed circuit board. It is a flat piece of plastic or metal with lines on it that are connected to electronic components.
Read onWithout a structured quality management approach, you're leaving your project open to potential problems and delays down the road.
Read onThe approach identifies different project risks and helps to identify procedures related to those risks.
Read onA risk register is an essential tool for managing risks in a product development project.
Read onYou're considering a new product, but you're not sure if it's feasible. This article briefly explores what a feasibility study is, and how it differs from a case study.
Read onDeveloping a new product can be very risky and companies need to ensure that they have thoroughly considered all the implications and potential pitfalls before launching
Read onA feasibility study and a business case are two different documents that help companies make decisions.
Read onWhen you’re starting a new business, it’s important to make sure your products are viable in the market. That’s where a feasibility study comes in.
Read on
