What is a Stage-Gate Methodology In Product Development?
Author : Nilesh Parashar | Published On : 17 Jan 2022
The Stage-Gate model is a method for increasing the value of new product development projects. Its strength is that it increases an organization's ability to translate creative ideas into practical technologies and innovative products using a roadmap that includes several deliverables ("stages") in desired outcomes. When done correctly, it allows for a continual flow of research and innovation. As a result, it is widely regarded as an "industry standard" in product innovation, with organizations of all sizes adopting it in a variety of industries. If you wish to learn more about this topic, look for python programming online courses.
The Stage-Gate process, sometimes known as the phase-gate process, is a five-stage procedure that guides new product development. A gate is used between stages to identify whether the team must move on to the next one or apply an iteration in the current one before moving on to the next.
There are 5 Stages and 4 Gates in the Stage-Gate approach:
As a result, the Stage-Gate model, commonly referred to as the phase-gate approach, is a new product introduction process. The process of innovation is divided into five key phases, each of which is preceded by a gate, resulting in a total of four gates. These gates are intermediary management ratification processes, or waypoints, that must be passed in order to proceed to the next stage or to terminate the project.
There is, however, a sixth preliminary phase, which could be referred to as "phase 0." When members of staff analyze market opportunities and create new ideas, they are in the discovery or ideation stage. Choose the python certification course to learn more about this course.
The Stage-Gate process involves five phases:
Stage 0: Discover
Companies tend to find opportunities and what they can do at this point. This can be accomplished by performing market research, analyzing market needs, and brainstorming ideas using mind mapping and brainstorming techniques.
Stage 1: Scoping
The group assesses the product concept and its breadth. The team is attempting to determine whether the idea is realistic and can present a market opportunity at this level. This can be accomplished using techniques like the SWOT analysis, which allows the team to assess the idea based on its strengths, weaknesses, chances, and threats.
Stage 2: Build Business Case
The team works to create a product definition and analysis, a financial model, a project plan, and a feasibility evaluation once the idea has been generated and a clear vision for the product has been established.
Stage 3: Development
In this stage, the team takes the plan developed in the previous phases and puts it into reality by creating a product prototype. This stage's timeframe is critical for achieving five criteria: specific, measurable, actionable, realistic and time-bound (SMART). The timeline is constantly updated to reflect the current state of work.
Stage 4: Testing and Validation
The prototype is tested at this stage, and input is gathered to help improve it. The testing entails a team of people looking for flaws and defects in the product. The product is next put through a field test, which impacts overall testing in a beta version as well as a marketing test to determine market viability.
Stage 5: Launch
After passing all the stages, the product advances to the launch stage, where it is offered to market adoption using a marketing strategy. In this stage, the marketing people are responsible for creating a market need and growing the product's market visibility.
And Then There are the Four Gates...
The gates act as "quality control" in between each phase, requiring intermittent meetings to clearly lay out the project's position by reviewing costs, existing and future timeframes, potential dangers, quality control, and employee involvement.
The Stage-Gate Technique has the Following Advantages:
While largely a product innovation management approach, the concept may be applied to many aspects of project portfolio management. It has numerous advantages:
1. It aids in the organization of project progress checkpoints and the creation of a detailed timetable.
2. It frequently aids in the elimination of potential risks or errors during the project’s lifetime.
3. Based on the organization's strategic objectives, it contributes to greater decision-making and optimal value production.
The Stage-Gate new product development approach can assist organizations to avoid risks when developing new products, allowing them to compete more effectively in the market. For a better understanding, select the c programming online course.