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One out of every four large projects is cancelled during the development stage and 75% of delivered projects have significant operational failures - one or more product functions is never used or the product does not function as intended. The average product development project runs over schedule up to 50% longer than planned and more than half of all projects cost more than expected.
Most companies have a good Product Development Process (PDP) either created in house or by a competent external source. The PDP itself is often not the problem. The problem is your PDP is often not used to its full potential because of inadequate requirements management and analysis.
The Cost Of Inadequate Requirements Management
It's All About Requirements
Common Reasons For Project Failures
- Having A Good PDP But Not Following It Completely
- Poor Requirements Scope & Definition
- Incomplete Requirements
- Lack Of User Involvement
- Lack Of Resources
- Unrealistic Expectations
- Lack Of Executive Support
- Changing Requirements & Specifications
- Inadequate Cost Management
- Late To Market
- Lack Of Planning
- “Didn’t Need It Anymore” For Functions Or Product
- Fewer defects
- Earlier identification of requirements, especially critical requirements
- No “missed” requirements
- Reduce late term firefighting
- Better collaboration
- Identify cost saving opportunities due to over design
- Eliminate inefficiencies in program execution and reporting
- Expose risks in design and manufacturing capability
- Capture and monitor key program metrics and deliverables
Many Of These Reasons Are Due To An Incomplete Effort At Identifying,
Flowing Down (Cascading), And Managing/Analyzing Requirements
Cognition Cockpit is a new breed of software solution for enabling your Product Development Process (PDP) through a combination of Requirements Management, Voice Management, FMEA/Risk Management, V&V/Test Management, and Cost Management. Try out Cockpit on your toughest projects and see how it will improve your overall project performance:
Poor understanding, analysis, or management of requirements leads to the wrong product. Cognition Cockpit's unique Requirements Management capabilities will help you avoid project failure modes, missed performance targets, cost overruns, and missed delivery dates. The Cockpit makes quick work of creating requirements directly in it's Web 2.0 interface or by importing from standard Microsoft Word and Excel formats. It is also easy to reuse requirements from other projects using a drag and drop capability.
Statistical Analysis of Requirements allows you to predict the behavior of your system during the design stage using Cockpit's unique transfer function analysis of your requirements and parameters. You can see both the impact of your nominal design values and the impact of variations and tolerances. Using this analytical capability, you can quickly identify the key contributors to any design problems, perform real time "what if" exercises, and test any proposed preventive and corrective actions.
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