Benefits of Lessons Learned
In a benchmark study of over 100 businesses, the post-launch review was shown to have the greatest impact on NPD performance, yet was one of the weakest overall areas. Less than a quarter of firms conduct a formal lessons learned project review (14). Yet, most businesses have already fully implemented a formal phased NPD review process – what’s happening to the last step in the process?
Learning from NPD post-launch reviews requires focus, effort, attention to detail, and the ability to make tough choices. Learnings cut across work groups, individuals, and functions, delivering improved procedures, processes, and leadership skills for the cross-functional NPD team. New tools and methods can emerge from diligent PLRs, leading to faster, more efficient, and higher quality NPD projects in the future.
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