ave you ever seen this happen: Extensive time and resources are spent on new-product or service development programs that end abruptly when it becomes clear the offerings have serious commercial or technical flaws, cannot meet financial hurdles, or do not fit company strategy or risk-tolerance. Sometimes the programs wither and die due to an inhospitable company environment or improperly implemented program management. These terminations due to decree or neglect are especially unfortunate, because often the reasons were evident before spending significant resources…if you knew what to look for and what to do. This paper addresses these challenges from my perspective of having been in the trenches both as a project manager and as an executive responsible for commercializing technology and running a business for Standard Oil Chemical, BP, and Johnson & Johnson. The focus will be on explaining what's needed, why, and how to operate so that this guidance might be adapted to the specific needs of the industrial biotechnology community.
Overarching strategyThe overarching strategy for getting to market quickly is to: 1) Avoid false starts. 2) Execute efficiently and effectively. 3) Cut losses short and flexibly salvage.
Five action items & an enabling management framework to implement this strategyThe Enabling Management Framework integrates the Action Items with company, market, and customer considerations, and has two complementary components. The first involves the specific information or resource needed to implement the action, and the second addresses the overall management framework or company culture that permits the needed information or resource to exist and flourish. ACTION 1. Get off to a running start with a Preliminary Screen.
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