The Original Stage Gate Process

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Stages are groups of activities that can be performed in series or parallel. Stage gates are structured decision points at the end of each state. They are needed between phases in order to make a decision of whether the project should continue with original objectives, should be terminated or should continue with revised objectives. The purpose of stage gates is also to allow sponsors to identify any failures and help in taking decisions for better utilization of resources. Stage gates make way for a standard and structured decision making process. However, good project management also suggests that too many gates can lead to excessive time getting spent on preparing gate reviews as opposed to actually managing the

The significance of these milestones is to enable the team to identify where the key elements of the project are, in terms of risk

The first milestone will be concept approval. During this phase, feasibility studies and basic system concepts have been approved by the management. The project is on course to proceed according to the detailed requirements. The next milestone is requirements review. During this stage, requirement specifications are ready, correct, and approved for input to the design. The next milestone will be preliminary design review here the architectural design meets all product requirements. Critical design review will then follow. During this phase, the detailed designs are approved and suitable for the development of test cases. The next milestone will be the test plan review, which involves reviewing the test plan to ensure product features are satisfactory. The next milestones will be tested readiness review, system test review, operational readiness review, and operational product

1. Use of TQM, phase gate model and project management tools ( WBS, Critical path analysis, 3-point estimation and earned value analysis).

B) The stage gate process is an iterative project management tool in which a project is divided into stages and separated by gates. The rapid prototyping process on the other hand is a product development method that emphasizes more on adjusting/changing the requirements according to the knowledge gained as the project progresses rather than the traditional approach of rigorous planning before the development

Evaluate the importance of understanding the various stages of the project life cycle and its possible contributions to a project.

All engineering companies are different in the procedure they use when designing a new product. However, some basic steps should always apply to ensure a successful outcome.

It involves assembling and developing the project team and training them. It also involves implementing the approved changes to the project. The main outputs of the execution process group are progress reports and quality reports. Monitoring and Controlling The monitoring and controlling process group is one of the process groups that overlaps with other process groups or is working simultaneously with other process groups. The basic function of this process group is to observe, identify the problem and correct the problem. It ensures that the other processes are functioning correctly such as, the execution process group follows the outputs and the functions planned in the planning process group. This is an ongoing process. Quality is one of the important aspects of this process group. Closing This is the last process group of the project management lifecycle, it closes the project. It involves ensuring that the stakeholder’s requirements are satisfied and gaining stakeholders acceptance for the delivered project. It also involves creating the lessons-learned report.4 Triple Constraint of Project Management All projects have three objectives to meet the requirements of the end-users needs. These objectives are scope, time and cost, also known as the Triple Constraint. Project scope refers to the deliverables and the boundaries of the project. Time signifies the schedule of the project and the date of delivery

This is also a process that is able to analyze every step stage of the project. This is beneficial because it helps businesses to know that they are staying on budget and whether the project will be completed on time.

Equally important to the innovation process are the factors related to the innovation systems design. Factors that are analyzed include the creative phase, execution phase, and creation stage. In the creative stage, ideas come together for everyone to discuss. Next the innovation systems design will lead to the execution stage. During this stage, management will discuss and decide which idea will be the best to benefit and support the mission and principles of the company. Once a decision has been accomplished, the company moves to the creation stage. At this point, every detail will become compiled into the functions of daily business.

There was no change in success rate even many companies invest million dollars over past decade how to bring new product and serves to market to define and standardize. Frequently, firms neglect to align product development strategy to business needs. Tackling this problem requires that the room, craft a development strategy tot the context in which it competes and updates development processes as this context evolves over time.

Successful projects require adopting thorough and relevant strategies throughout the project life cycle. This include using different strategies to keep cost in check, meet timelines and deliverables, meet the require quality standards, and more. Adopting the right processes for monitoring and controlling the project is very essential

In this report, the author talks about Excellence in Product Development and starts the report with the introduction of the topic in which he gives a general, theoretical and a broad definition of product development. After the Introduction, the author talks about the circumstances that lead firms to pursue the product development strategy

4. Development: The development stage is where the company 's creates specifications of the product, the design, and prototypes. It is also in this stage that the company considers manufacturing constraints.