In business, creating products cannot be done in a haphazard manner. Instead, you need to plan in advance how you will set out in developing new products. One of the ways to do this is by using product roadmaps, which will guide you in creating the steps to ensure an efficient product that will do well in the market and which will be developed in the proper time. Here’s how you can create the product roadmap.
- Product. Start by determining the type of product that the roadmap will be used for. Generally, there are two types of roadmaps that you can use. The simpler roadmap is called the external product roadmap which is less technical and which can be presented to the public or which can be kept confidential. The internal roadmap, on the other hand, is more detailed and used mainly by the firm to develop the new product. It usually contains plenty of technical information and jargon.
- Systems. Creating new products does not happen in a bubble. You should take a systems view of the industry and look for trends that are erupting, or for new events that can lead to shifts in the market. For example, a new product can create an interest in the market that you can maximize by creating other products that rival the initial product. You should also look at technology reports related to your industry and which you can use for your products.
- Market requirements. Next, make sure that you get the market requirements document. In the MRD, you get the exact specifications that the client wants to have. This will guide you in tailoring the product to suit the client’s needs. Be sure to pay attention to whatever market needs are present in the MRD, since these needs are usually the starting points for creating new products.
- Time frame. Creating products needs to work on a deadline as well. The time frame should indicate not only how much time must be spent in the over-all product creation phase, but also in the individual and specific sub-sections of product creation. For example, the time frame should indicate how much time should be dedicated to research, experimentation, trials, et cetera. Keep in mind, however, that time frames will change according to unpredictable variables that can come up in the course of product creation. This does not mean, however that you should not try to conform to a schedule.
- Document. Once you have the time frame, MRD, product, and systems perspective, you can put all of these together into a single document. The document is usually presented in a graphical manner to make it easier to understand. Supplement the graphics or the roadmap with supplementary texts for further explanations if necessary.
- Approval and distribution. Next, the document will be forwarded to the company’s executive company who will then review the product. If there are revisions or suggestions, edit the roadmap accordingly. Once the roadmap has been approved, it can be distributed to the various heads of departments who will then carry out the roadmap.
You can use the various product management applications to help easily make product roadmaps. These can be downloaded from the internet.