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Medical product development is a long and complex journey. Whether your company is an ambitious startup or an established industry leader, of course you already know you need to have a plan. But not all product development plans are created equal.
In order to be successful, your development plan needs to anticipate and address the many details, requirements, and potential roadblocks that may arise. Gaps and oversights come at a high cost in terms of time, money, lost opportunity — and even reputational damage. It’s not a stretch to say that the success of your product may depend on how well you plan.
The best way to lay the necessary foundation for a complex development process? Start with a project diagnostic that leaves no stone unturned. In this article, we’ll explain what a project diagnostic is and how you can use one to build a rock-solid product development plan.
What is a Project Diagnostic, and Why Is It So Important?
A project diagnostic is a structured assessment of your project. It is used to build a detailed and highly accurate product development plan. For obvious reasons, the diagnostic should be one of the very first steps in the product development process.
Over the course of a project diagnostic, your goals are to:
Comprehensively assess the project’s needs and requirements
Define roles and responsibilities
Identify risks and resources
Uncover regulatory requirements
Identify gaps and opportunities
Bring internal teams into alignment around a shared vision
Ensure budgets are accurate
Establish a realistic timeline for the project
Refine your team’s understanding of how your product will meet users’ needs