- Involved team: Marketing, Engineering, Manufacturing, Finance, Corporate Level, users, Suppliers, experts
- If things still look good from the producible, testable, marketable and profitable standpoint (i.e. the business case is still acceptable) use the MRD as the 'input' to the next phase. Later, the completed product will be compared to this specification to ensure that the correct product has been developed. This is called Product Validation.
- All project and high-level product creativity takes place in this stage. If the team agrees to the MRD, suspend all further modifications ('freeze' it) and implement change control management for the MRD. Once this is completed there is a solid foundation to negotiate funding for the full project since costs and time estimates have a studied basis and goals are stated.
- If the business case is not acceptable, then the new product or its life cycle must be modified to create an acceptable business case or the project can be scrapped (incurring minimal losses). Also, the project can safely be stalled at this point in case, for example, funds are not yet available to proceed to the next phase. This phase may need to be repeated if funding is re-negotiated.
- A fairly detailed project plan can be created at this point.
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©1999, 2005, Richard M. (Dick) Haney
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