Now you need to add those ideas generated from your Brainstorming session to your Product Roadmap. We suggest the following process:-
1) The first key step is to match the New Product Ideas to the Technology Roadmap. If the Idea does not match up to the Technology available then the capability to bring it to market will be extremely limited and the cost of developing the appropriate technology will have to be taken into consideration.
2) The Business Case should be thoroughly reviewed in terms of potential Market, Unit Cost, Selling Price, Volume, Resources etc
3) Products generating the greatest IRR (Internal Rate of Return) should be given priority.
4) Only when the above process has been followed and New Product Ideas meet the required Company criteria should the New Product Development commence.
By pursuing a New Product Development process which follows a defined Product Roadmapping process you will ensure that New Product Developments are resourced effectively and time to market is minimized which brings maximum returns.
