Product Development: An Engineer's Guide to Business Considerations, Real-World Product Testing, and Launch

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PRODUCT DEVELOPMENT

An insightful development roadmap to help engineers and businesspeople successfully bring a product to market

In Product Development: An Engineer’s Guide to Business Considerations, Real-World Product Testing, and Launch, accomplished project manager, engineer, and business strategist David V. Tennant delivers a comprehensive walkthrough of the full scope of product development activities, from initial business considerations to real-world product testing and launch. The book covers key product development considerations like determining the target market, working with a product development team, management challenges, funding, user identification, ergonomics, product design, testing, and launch.

The distinguished author presents the material in the form of practical, hands-on tutorials with case studies featuring large corporations and small- and mid-size firms. He also includes team exercises and question-and-answer features to help early-career and aspiring engineers acquire the interdisciplinary and inter-department coordination skills they’ll require to successfully bring a new product to market.

Readers will learn about the critical roles played by the engineering, marketing, and finance departments, as well as each stage of the product development process. The book also includes:

  • Thorough introductions to product development and the role of the marketing group in product development, including corporate strategy, product and business plans, and marketing leadership
  • Comprehensive explorations of the role of the engineering group in product development, including functional areas led by engineers and engineering leadership
  • Practical discussions of the core team and teamwork in product development, including executives’ roles, the role of the accounting department, and the identification of key stakeholders
  • In-depth examinations of how to move forward with product development after project approval

Perfect for early- and mid-career engineers working in product-oriented companies, as well as marketers and other business professionals seeking to understand engineering best practices, Product Development is the ideal reference for use in upper-level undergraduate Product Development courses.

Author(s): David V. Tennant
Publisher: Wiley
Year: 2022

Language: English
Pages: 222
City: Hoboken

Product Development
Contents
Acknowledgments
About the Author
1 Introduction to Product Development
Project Management and Product Development
What Is Product Development?
How This Book Is Organized
2 The Role of Marketing in Product Development
Corporate Strategy – Strategic Planning
Marketing, Sales, and the Four Ps
The 1st P – Product
Example of Product Displacement
The 2nd P – Promotion
The 3rd P – Pricing
The 4th P – Placement
The Business Case
The Roles of Marketing and Engineering in Product Development
Marketing Services
New Product Development and Market Economics:
The Future of Electric Trucks vs Costs and Public Policy
3 The Role of the Engineering Group in Product Development
Driving Products – the Engineering Perspective
Engineering Disciplines
The Engineering Process
Ergonomics (Human Factors Engineering)
Additional Design Considerations – Product Liability
Government Oversight – Consumer Protection in the United States
Discussion Case 3.1 – Lawsuit over Hot Coffee
Design Challenges – Product Misuse
Problems with Product Development
4 The Core Team and Teamwork in Product Development
The Executive’s Role in Product Development
Working Within the Strategic Plan
Project Management Processes
Who Should Be Involved in Product Development?
Constraint on Product Development: A Note about
Sarbanes-Oxley and Publicly Held Companies
Essentials of Teamwork and Communications across
Functional Lines
Project/Product Communication
Budgets, Schedules, and Miscellaneous Small Tasks
Leadership in Product Development
How Do Leaders Go Wrong?
The Roles of Accounting and Finance
Decision Points and Net Present Value (NPV)
The Bigger Picture
Driving Product Development
Working in Silos and with Stakeholders
Identifying Stakeholders
5 Getting Started – Project Approved: Product/Project
Management and Engineering
Taking the Business Case from Concept to Reality
Basic Research
Applied Research
Project Management in Product Development
Why Do Projects Fail?
Traditional and Agile Project Management
Sample Project Plan – Detailed Table of Contents
A True Case Study - Company Dysfunction and a Lack of
Project Management
Developing and Controlling Scope – Using a Work
Breakdown Structure (WBS)
Developing a Budget and Cash Flows
Agile PM
The Vision Statement
Agile Hybrid in Action – Marketing Natural Gas in the
Southeastern United States: Gas South, A True Story
Discussion Case 5.1 – A True Story: Product Development
Without Project Management
6 Product Development for Small Firms and Entrepreneurs
Funding for Your Start-Up: A Necessary Ingredient
Loans from the Bank and Small Business Administration (SBA)
Funding from Venture Capitalists
Funding by Issuing Shares of Stock
Funding with Angel Investors
Other Sources of Business and Financial Assistance
Summary on Product Development and Sources of Funding
Small Firm Challenges
Lack of Structured Planning
Marketing Message Not Strong or Clear
Legal and Regulatory Obstacles
Use of a Product Roadmap
Innovation
When (Or If) to Patent
7 Manufacturing the New Product
The State of Manufacturing
New Manufacturing Advances
8 Engineering Product Design and Testing
Managing the Approved Scope and Budget – Why Is This
Important?
The Project Lifecycle
A True Story: Ignoring the Warning Signs
Preventing Failure and Surprises: Performing a Risk Review
Two Types of Risk Review: Qualitative and Quantitative
Design and Status Reviews
Modeling – Speeding Product Development
Integrating Supply Chain and Manufacturing
The Role of Supply Chain in Product Development
Proposals, Pricing, Statements of Work (SOWs)
New Technologies – Identification and Adaptation
Alignment with Business Strategy
Using SWOT
Gates and Stakeholders
9 Successful Product Launch and Post Review
Pricing
Integrated Marketing
Product Development – Post Review
10 Summary – Connecting the Dots
A Logical Process Flow
Index
EULA