Question

Which of the following is a common Pitfall in the new product development process?​

Answer 1

$\huge\bold\green{Answer:-}$

Things go awry during product development projects. While many pitfalls will undoubtedly be specific to an industry or a discipline, I’ve identified several that span both many industries and disciplines.

These issues are common to many projects in many industries. The interesting part of these pitfalls is that they are behavioral and not technological. Therefore, these behaviors can be modified through mentoring or coaching.

The pitfalls to avoid are:-

✭Hubris

✮Ignoring the facts

✮Poor planning

✮Hubris:-

Merriam Webster defines hubris in two ways – the first is an exaggerated pride or self-confidence, and the second is a foolish amount of pride or confidence. Both of these definitions can lead a project down a path of tough or no return. I’ve witnessed technical and non-technical projects go awry simply because of the arrogance and foolish self-confidence of some of team leaders and members.

✮Ignoring the facts:-

Ignoring the facts has two main root causes. The first is hubris discussed above; simply assuming the facts can be changed based on knowledge or more likely arrogance. The second is wishful thinking, typically described as “hope.” I’ve told my teams (and my family) “hope is not a plan.” It may feel good in the moment, but lack of fact-based action will waste time and money, and cause unnecessary angst.

✮Poor planning:-

The lack of acceptable project and product performance is most frequently due to poor planning. The root of this planning problem is typically not the nuts-and-bolts of the planning process itself–it is the errant data gathering and analysis that takes place early in the project.

The inputs may be jaded by hubris and lack of facts thus causing the plan it to be inaccurate and results unattainable. There is no complex software system or critical-chain analysis can save a project from a foundation built on “sand.” Rigorous data gathering and fact-checking is needed to ensure a sound foundation.

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