How can I avoid risks that delay the development and market launch of a product?

1. Introduction

Delays in product development projects are often due to a lack of competencies, unclear requirements or immature technologies. These risks must be identified and addressed early if the product development project is to be completed successfully and efficiently.

2. Risk minimization strategies

1. Ensure that all necessary competencies are available

A development project can only be carried out in compliance with standards with a competent team. In addition to competence management, responsibilities as well as customer-supplier relationships within the project should be defined clearly to ensure smooth processes.

2. Formulate the full set of technical requirements

The first step is to create a complete design specification for the top product architecture level. This design specification forms the basis for the second step, the creation of the safety analysis at this level. The third step is to derive a complete set of technical requirements for this level. These three steps are repeated at the next lower product architecture level and so on until all product architecture levels are done.

3. Only use sufficiently mature technologies

Technologies that have not yet been used in a similar product should first be applied and tested in a research or pre-development project. Their integration into a product development project only makes sense once a sufficient level of maturity has been reached.

3. Summary

Minimizing product development risks requires:

• a competent team,
• precise and complete requirements,
• the use of mature technologies.

A structured approach reduces risks and ensures the success of development projects.