Motivation & Decision Making for Entrepreneurial Product Development- Part 3 of 3

In my experience, people within large organizations are more likely to become distracted by misplaced motivations than are those within smaller, more entrepreneurial ones. The compensation and equity models (stock options, profit sharing, etc.) common within smaller entrepreneurial companies often result in motivations that are more aligned with that of the shareholders than within large organizations where the incentives and rewards may not be as directly and clearly linked to the profitability of the company has a whole. Read the rest of this entry »


Motivation & Decision Making for Entrepreneurial Product Development- Part 2 of 3

The most important factor in decision making is the motivation of the decision maker. If various members of the product development team are, in effect, pursuing goals at variance with that of the shareholders (profitability), then it can be expected that they may make decisions about the actions that should be taken in response to a particular set of circumstances that are less likely to result in project success as measured by overall profitability. Read the rest of this entry »


Motivation & Decision Making for Entrepreneurial Product Development- Part 1 of 3

Product development can be thought of as a series of thousands or perhaps millions of decisions that must be made at all levels of an organization. These decisions pertain to business, marketing, engineering, manufacturing and other aspects of the business. Read the rest of this entry »


Measuring Progress of Product Development Projects: What You Measure is What You Get- Part 2 of 2

Confused Man

Another point about prototypes is that they are expensive and time consuming to design and build. Typically, a great deal of decision making and design effort is expended in creating a design to be prototyped and also in building and debugging the prototypes. The evolution of rapid prototyping technologies has greatly reduced the cost and time of fabricating prototype parts; however, the cost and time associated with designing them is high. Read the rest of this entry »


Measuring Progress of Product Development Projects: What You Measure is What You Get – Part 1 of 2

Every product development project has a specific objective:  a new product that satisfies a desire or need in the marketplace and that can be manufactured for a cost far enough below the price for which it can be sold that a satisfactory profit can be made.  Read the rest of this entry »


Optimizing the Product Development Process

Product development is similar to an expedition through an uncharted wilderness. An expedition requires a well-explained description of the destination, a clearly articulated plan for how to get there and an understanding of the roles and responsibilities of each team member. Read the rest of this entry »


Contract Engineer versus Mechanical Engineering Firm

Sometimes a company needs to augment its internal product development team with someone from outside of the organization. The initial thought may be to hire a contract engineer or contract designer through a contract employment agency. However, there is a better alternative: utilize the services of a dedicated mechanical engineering firm. Following are a few important factors to consider before making this important decision.

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