From the course: Agile New Product Development for Manufacturers

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Business pressure on manufacturers: Part 2

Business pressure on manufacturers: Part 2

From the course: Agile New Product Development for Manufacturers

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Business pressure on manufacturers: Part 2

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- [Instructor] Continuing the talk about the business pressure on manufacturers, if we look at this from a graphical standpoint, the typical new product development plan is a project plan. And a typical project plan is broken up into phases, as you can see here. And it has different allocations for resources and for time. These new product development project plans are very good at showing the critical path through the new product development. Which is, of course, the longest areas of development, or the things that we need to care for most. It's also very good at saying where are we today, and what activities and what resources do we have moving forward? The downside of such a project plan of course, is that it requires everything to be thought out ahead of time. And this is where Agile and traditional Waterfall, or traditional project management methodologies begin to differ. So let's spend a few minutes talking about that, and why agile works very well for this, how it works well…

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