How can IVD manufacturers avoid product development process mistakes that result in poor designs, cost overruns and delayed time to market?
Strategic Program Management is a development approach focused on continually identifying and mitigating technical and commercial risks while allowing flexibility to change and adapt the program strategy to deliver the best outcome. It has proven to be an effective method of delivering successful products to market within cost, schedule and resource parameters.
The risk mitigation aspect of Strategic Program Management can be perceived as somewhat negative given the focus on, “What can go wrong?” However, when well executed, this approach is designed to not only ensure a positive outcome but can foster innovation and improved product design.
Based on our experiences, below are eight key components for effectively managing risk throughout the IVD product development process as part of a Strategic Program Management approach.