Why Roadmapping helps read more
Roadmapping enables alignment of product and technology developments with marketing and company strategic goals……….Read More
Why Roadmapping helps
Roadmapping is a technique dating back to the 1980’s pioneered by Motorola in the US and Philips in Europe. It is a simple and powerful graphical representation of how products, services and technologies can be developed to best meet the customer requirements in line with the organisation’s vision and long term goals.
By bringing together the different parts of an organisation from sales, marketing, finance, engineering, planning and research & development the roadmaps enable the whole business to share a common view of the future. This greater understanding encourages closer co-operation, fewer misunderstandings and most of all better informed decision making along the innovation trail.
Roadmaps need to be maintained as “living” pictures which enable gaps and opportunities to be spotted when they occur rather than months down the line when finances may have been needlessly wasted and competitive advantages lost.
Typical benefits achieved through Roadmapping include:-
- Reduced R&D costs and duplication of effort
- Use existing technologies to develop new revenues
- React quicker to competitors and market changes
- Launch new products and services faster
- Cancel low profit projects sooner
- Improve customer and supplier relationships
- Encourage more innovative ideas
- Focus on the most profitable markets
- Better future planning of finances and resources
Where Roadmapping fits read more
Roadmapping starts at the beginning of your Innovation cycle and maintains the focus through to completion……….Read More
Where Roadmapping fits
Roadmapping is essentially a high level visual technique that fits in tightly with all areas of future strategic planning. Most companies have long term goals, annual financial plans and regularly visited plans for products, technologies and resources. All of these can and should be represented in the roadmaps along with customer and marketing requirements.
Roadmaps have timescales looking far into the future where many aspects of market and technology capability are uncertain. They need to be constantly updated as time moves forward and the picture becomes clearer in the shorter term horizon. As the Innovation cycle moves from ideas and concepts through research and development into production the roadmap moves from future planning to execution.
Who uses Roadmapping read more
“About twice as many best performers (38%) use Product roadmaps than worst performers (19%)” Robert Cooper & Scott Edgett (2009). Product Development Institute Inc ……….Read More
Who uses Roadmapping
Roadmapping started life as Technology Roadmapping and was used principally by engineers, scientists and research departments before spreading to product/services and marketing. Nowadays it is most effectively used in a company-wide cross functional role used by all departments and regularly reviewed at Board level. It is seen as instrumental in supporting the strategy and innovation processes.
Its main supporters are usually:
- CEO, CFO, CTO and other Board members
- Innovation managers
- Product and product line managers
- Technology and R&D managers
- Sales and marketing managers
- Strategic planning
Industries actively engaged in Roadmapping include:
- Aerospace and Defence
- Heavy engineering and transportation
- Electronics and high tech
- Oil/gas/nuclear and renewable energy sector
- IT departments
- Banking Insurance and services industry