PROBING THE LIMITS: Are Product Development Projects Doomed to Fail?
The soft side of project management offers clues that can lead to successful product development.
I’ve been working on new product development projects for more than 15 years, and I’ve only rarely been on what I would call a successful project. Success being measured as a project that was on-time, on-budget, and that met product specification.
I've been working on new product development projects for more than 15 years, and I've only rarely been on what I would call a successful project. Success being measured as a project that was on-time, on-budget, and that met product specification. Benchmarking against industry data, this poor track record is not a surprise, nor is it unique to discrete manufacturing. For instance, one report that I read suggests that only 16% of software development projects are successful, and my experience tells me that this pitiful success rate is common in other design efforts as well.
From a quality and manufacturing perspective, I am intrigued by the appalling product development failure rates. My background is primarily in manufacturing and quality, departments in which being even slightly over-cost or shipping late is a cardinal sin. By comparison, most development projects I've been involved with have been grossly late and over budget and some are off by several multiples of the original projections.