presentation deck - hi-tech product (terracog)
TRANSCRIPT
terracogG L O B A L P O S I T I O N S Y S T E M S
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agenda
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Introduction
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Problem
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Alternatives
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Recommendation
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Implementation
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• High-quality GPS and fishing sonar equipment; cycling and fitness
• Posthaste (competitor) launched BirdsIwith satellite imagery
• TerraCog decided not to respond; changed their minds 3 quarters later
• Project Aerial is late to market and the product is too expensive
• Team is pointing fingers
brief overview
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TimeAlready delayed 2
years; need to catch up
CostReasonable price
is important; maintaining
reputation is more important
Scope & quality
Reputation; “durability and value-added
features”
triple constraint
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core problem & resultant issues
Lack of a clear project vision and sponsorVision and strategic importance of Project Aerial not communicated
Sales dictated features Sales incentivized by targets Focused on functions
Sub-par product Misaligned objectives Lack of team cohesiveness
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objectives
Find a suitable project sponsor…
Who will align the interests of parties involved and re-establish team unity…
And ensure that the TerraCog brand is well-positioned to compete going forward
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GO OR NO-GO?
Description
Disband the project team; everyone refocuses on day-to-day tasks and other projects
Impact
– The need for TerraCog to respond to the market would still exist
– Similar management issues would resurface
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1) no-go: kill the project
Description
Retain current project structure; don’t compromise on margin; prepare to introduce 2nd iteration
Impact
– Unjustifiable premium, unable to compete on quality or functionality
– Could significantly damage TerraCog’s high-quality brand
– Further deteriorates team dynamics; no one is satisfied; 2nd iteration likely will not be successfully introduced
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2) go: release as is
Description
Redesign, restructure, and re-emerge with a better product for the market
Impact
– Higher costs and greater need for resources, but…
– Reunited team
– Further secures brand name with better product; keeps TerraCog competitive
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3) go differently: make structural changes
A L T E R N A T I V E S
O B J E C T I V E S 1) Kill the project 2) Launch 3) Go differently
Opportunity for sponsor and vision
to be defined
No sponsor/vision; team
disbands
Rank: 3
Unsure who sponsor is; would
agree on price
Rank: 2
Team reunites around singular
vision and leadership
Rank: 1
Allows all departments to assume
appropriate roles; team unity
Fulfill their roles on other
projects
Rank: 2
Roles remain unclear
Rank: 3
Better define different team
members’ roles
Rank: 1
Strategically positions TerraCog
for the future
Ignores importance of satellite
imagery
Rank: 3
Would have satellite imagery for
the future
Rank: 2
A better Aerial can be used in
future
Rank: 1
A V E R A G E R A N K Rank: 2.67 (Worst) Rank: 2.33 Rank: 1 (Best)
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alternative evaluation
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Take time to redefine scope and communicate Aerial’s strategic importance
Frame this as a project that could drastically affect the company’s future in order to align incentives.
go… differently!
Revise responsibilities
Design and Development needs to take a more active role. Allen (Design & Dev) and Tony (Production) both have opportunity to prove themselves. Ed (Sales) needs to back off.
Think about the big picture
Seek Fiero’s company-wide endorsement as the Project Manager.
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plan of action: immediate
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Allen Roth should be promoted to Product Manager of Project Aerial.
Embrace an updated and broadly consultative Statement of Work.
Reiterate to members of the team their specific roles.
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Project Sponsor
Richard Fiero
Project Manager
Emma Richardson
Product Manager
Allen Roth
Project Member
(Design)
Cory Wu
Project Member
(Design)
Alice Gorga
Project Member
(Sales)
Ed Pryor
Project Member
(Production)
Tony Barren
plan of action: immediate
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M A R C H A P R I L M A Y J U N E J U L Y
Recapture Fiero’s support for project & Project Sponsor
Clarify Emma’s role as Project Manager and Allen Roth as Product Manager
Collaboratively write Statement of Work; ensure all parties are united in Aerial’s structure, objectives, plan and roles
Communicate strategy to retailers in order to maintain (and build) retailer loyalty
R&D – develop the new and improved Aerial 2.0
Final prototype testing, iteration, refinement
Product showcase and launch at Outdoor Retailer Show
Official Aerial product launch (Q3)
plan of action: long-term
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C O S T R I S K T I M E R I S K S C O P E R I S K Q U A L I T Y R I S K
Very high
R&D and new product
innovation need significant
capital investment
Cost risk will increase to
minimize time risk
Low
Additional resources should
mitigate; timing should be
as originally expected.
N/A or Very Low
Will incorporate features
that consumers want;
strategically important
moving forward.
N/A or Very Low
Product quality will
improve.
evaluating risks
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R I S K E V E N T R E S P O N S E C O N T I N G E N C Y T R I G G E R W H O
Retailers hesitant to
purchase premium &
high priced product
Mitigate: Test and evaluate key retailers’
responses to product during prototyping
and at the OR show (Q3)
Increase marketing efforts; better
communicate the revamped
Aerial’s unique selling points
2 or more current
retailers reluctant to
stock the revamped
Aerial
Emma, Sales (Ed
Pryor)
User backlash of new
product
Mitigate: Conduct focus groups while
developing product to ensure product-
market fit; demo at the OR show (Q3).
Increase support staff to provide
assistance to customers; prepare
team for Aerial’s next iteration.
Top management (Fiero)
receives unfavourable
customer feedback; calls
project team
Design &
Development
(Allen Roth, Ed
Pryor)
Production Problems
Mitigate: Select reliable manufacturer;
secure written commitment on production
capacity; maintain close relationships with
other suppliers.
Inform manufacturer of intention
to source product elsewhere;
immediately begin discussions
with other friendly suppliers.
1 or more delayed
shipments of product or
parts
Emma,
Production (Tony
Barren)
risk mitigation
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T H E E A R L Y B I R D G E T S T H E W O R M …
B U T T H E W I S E T O R T O I S E W I N S T H E R A C E
measuring success
This course of action best sets up TerraCog for long-term viability and relevancy:
One (un)successful
product launch
Unified project team with common
vision
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thank you
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icon credits
Roundicons: Ramy Wafaa, Suzanne de Jong, Natalie Schaubert
Ballicons: PixelBuddha
The Noun Project: Consumer Financial Proection Bureau, Till Teenck, Creative Stall, Jamie Wilson, icon 54, Arthur Shlain, Pedro Canelas, Norbert Kucsera, Victor Fernandez, Loic Poivet