In today's world, it seems like everyone is always in a hurry. We're all so busy that we often don't have time to stop and think about the things we do. And that includes the way we work. We're always looking for ways to do things faster and more efficiently, without sacrificing quality. But is that really possible? Can we really have it all?
This article is about how reducing product specifications or quality control can affect the price either positively or negatively.
What are product specifications and quality control?
Product specifications are a set of requirements that a product must meet in order to be considered satisfactory. These requirements can include things like the dimensions of the product, the materials it is made from, the weight, the colour, and any special features. The manufacturer usually specifies these requirements in a document called a spec sheet.
Product specifications are important because they ensure that products meet the required standards. This is necessary in order to ensure that products are safe and functional. Without product specifications, it would be difficult to ensure that products meet all the required standards, which could lead to products that are not safe or functional.
So what are the types of requirements described in the product specifications?
Product specifications can be divided into different groups, based on the level of detail and the type of requirement. For example, a product specification could have top-level requirements that describe the general function or purpose of the product. It might then have more detailed requirements that describe how exactly this function or purpose should be performed.
Finally, the specification might also have requirements that relate to features as opposed to functions or purposes. These requirements might focus on the visual appearance of the product, or what materials it is made out of, for example.
Many different types of requirements could be included in a specification, but not all are relevant to every product. Requirements vary depending on things like whether the product will be used by consumers or businesses, and even how it will be used. For example, a functional specification for a new mobile phone might include requirements on the material it is made out of and what kind of USB ports it will have. However, this specification would probably not include any information about the size or weight of the phone because this would not significantly affect its functionality.
There are a number of commercial reasons why companies want to reduce product specifications or quality control.
How can reducing them affect the price of a project?
Reducing the number of product specifications a company asks for can reduce costs, both for companies and their customers. This is because it reduces administrative costs related to drawing up requirements and tends to expedite the development process. Reducing the amount of data that needs to be processed and analysed can also reduce the time and cost of quality control.
What are the benefits and drawbacks of doing so?
If a company decides to reduce the number of product specifications it asks for, or in any other way reduces quality control or product specification in general, there are a few potential benefits and drawbacks.
The main benefit would be reducing upfront development time and cost. If you're not spending money on superfluous processes, then you have more money to put into marketing and design.
However, there are some drawbacks to consider when reducing product specification or quality control. There is a risk of poor quality products reaching the market, which could lead to loss of business or damage to the company's reputation.
There are often legal consequences if a company produces poor quality products that are not fit for purpose. It is therefore possible that cutting back on quality control might lead to greater costs further down the line if customers or third parties experience problems with the final product.
Is there a better way to reduce costs without increasing risk?
Reducing product specification or quality control is not always the most effective way to reduce project costs. Often, it's better to target other areas of development which can be more easily changed without affecting the quality of the final product. For example, a company could hold off from investing too much time and money in design until after market research has been conducted. This would reduce costs by allowing the company to make design changes based on customer feedback, without having to pay for unnecessary design work beforehand.
It is important that companies don't compromise on quality or function though, as this can lead to poor product performance and loss of business. However, there are often many simple ways of reducing the cost of development that don't directly affect the final product, such as by making more efficient use of its components.
Reducing the functionality of the product will more than likely result in lower costs. This is because you would be using fewer components, design elements and other materials.
It is important to note that you also need to consider the potential risk of reduced functionality resulting in a defective product or lack of market appeal. Often, this means that you may have to spend more money on quality control or testing to ensure that your product is safe and desirable.
Reduced Features/Design Elements
Reducing the features on your product will also likely result in lower costs throughout any given product development process. This is because you would be using fewer components, design elements and other materials.
However, there are some implications to consider as well, including the potential for lack of marketable appeal or diminished functionality. Although you may have spent much less time and effort on your product's design, there's no guarantee that it will be able to stand up against the competition when it comes time to ship it out into the wild.
Reduced Quality Control Measures
As with other product development processes that involve cuts, reducing quality control measures will result in lower costs. This is because you'd be using fewer materials and manufacturing processes to build your product, which can potentially lead to a defective final product.
This approach also has some potential ramifications for your company's reputation and the overall success of the project, both of which have a hand in determining how much your product development services will cost.
Reducing quality control measures would affect the price of the project in that it could have a negative impact on its success, which is ultimately going to affect what the company charges for it. Even if you are able to produce a working version of your product, potentially lacking some key elements, there's a good chance that it won't be as effective as a comparable, more complete version. In turn, this means you're going to have some serious problems if your company is counting on the project as a source of revenue or trying to establish itself in the market.
Cutting Market Research
We totally understand why some clients don't want to carry out market research. For one, it can be pricey, which is a big reason why some companies choose to skip the step. However, there's also the concern that this information may not provide any valuable insight or new ideas to make your project better or more effective.
In conclusion, it would be possible to reduce product specifications or quality control measures without affecting the final price of a project, but only if the company is able to ensure that their resulting products don't lack market appeal or stand up against comparable competitors.
This means that companies need to be careful when making cuts in order to ensure their projects' success and not lose out on any returns in the long run.
Using Innovolo's Discovery Phase approach will help you determine the optimum specification of your product so you can be confident that it will meet your specification and final price point. Contact us to learn more.