Transforming Product Development using OnePlan To Boost Efficiency and Innovation - Webinar 13Jun24.pdf

Ready to overcome challenges and drive innovation in your organization? Join us in our upcoming webinar where we discuss how to combat resource limitations, scope creep, and the difficulties of aligning your projects with strategic goals. Discover how OnePlan can revolutionize your product development processes, helping your team to innovate faster, manage resources more effectively, and deliver exceptional results.

1. In partnership with
Transforming Product Development
using OnePlan To Boost Efficiency and Innovation

2. Trends
That are shaping Product Developmentdepartments:
Sustainability and Eco-friendly Design
Artificial Intelligence and Machine Learning
Rapid Prototyping and Agile Development
Regulatory and Ethical Considerations
Personalization and Customization
Collaborative Development Platforms
5G and Enhanced Connectivity
•Adoption of agile methodologies and rapid prototyping techniques is speeding up the product development cycle
•3D printing & digital twins allow quicker iterations. more flexible development processes, & reduced time-to-market
•Compliance with Regulations: Navigating complex regulatory environments
•Products accessible to people with disabilities, ensuring privacy and data security, and ethical implications of AI etc.
•Trend towards products that can be personalized or customized to meet individual consumer preferences
•Seen in industries like fashion, electronics, & consumer goods; customizable options are becoming more common
•Platforms that facilitate collaboration across different teams and locations are becoming essential
•Tools integrate aspects of product development, from ideation to production, to streamline processes & improve efficiency
•The rollout of 5G technology is enabling the development of more advanced connected devices
•Products can now leverage faster data speeds and lower latency to offer more sophisticated and real-time features,
particularly in areas like augmented reality (AR) and virtual reality (VR)
•Includes using sustainable materials, reducing carbon footprints, and designing for
•focusing on circular economy principles where products are designed for a longer life and easier recycling or reuse
•Predicting market trends, personalizing customer experiences, automating repetitive tasks, and optimizing performance
•AI-driven design tools can also assist in creating more innovative and efficient product designs

3. Challenges in Product Development
Addressing these challenges involves adopting adaptive
strategies, investing in continuous learning and development,
leveraging advanced technologies, and fostering a culture of
innovation and collaboration
Rapid Technological Changes:
•The pace of technological advancement requires companies to continuously innovate
and adapt
•Keeping up with emerging technologies such as artificial intelligence, machine
learning, and the Internet of Things can be challenging
Shorter Product Lifecycles:
•Products are becoming obsolete more quickly, driven by fast-paced innovation and
consumer demand for the latest advancements
•This requires faster development cycles and continuous updates
Market Uncertainty:
•Understanding and predicting market trends and consumer preferences is difficult
•Market conditions can change rapidly, impacting product demand and relevance
Global Competition:
•The global market is highly competitive, with numerous players offering similar
products
•Differentiation and maintaining a competitive edge require constant innovation and
strategic marketing
Data Management and Analytics:
•Leveraging data effectively for product development involves collecting, managing, and
analyzing large volumes of data
•Ensuring data quality, privacy, and deriving actionable insights are critical tasks
Integration with Existing Systems:
•New products often need to be integrated with existing systems and technologies
•Can be complex and require significant effort to ensure compatibility and smooth operation
Supply Chain Disruptions:
•Global supply chains are vulnerable to disruptions from geopolitical events, natural disasters,
and pandemics
•Ensuring a resilient supply chain and mitigating risks is a continuous challenge
Cross-Functional Collaboration:
•Effective product development requires collaboration across various functions, including
engineering, design, marketing, and sales
•Ensuring seamless communication and collaboration can be challenging
Resource Constraints:
•Limited resources, including time, budget, and skilled personnel, can hinder the
product development process
•Efficient resource allocation and management are crucial

4. Common Components of Product Development Projects
Market Research &
Analysis
•Identify Market Need
•Competitive Analysis
•Customer Feedback
Concept Development
•Idea Generation
•Feasibility Study
•Concept Testing
Planning & Design
•Product Specifications
•Design & Prototyping
•Project Planning
Development
•Engineering &
Technical Development
•Software/Hardware
Development
•Iteration and Testing
Testing & Validation
•Quality Assurance (QA)
•User Testing
•Compliance Testing
Manufacturing &
Production
•Production Planning
•Supply Chain
Management
•Pilot Production
Marketing & Launch
•Marketing Strategy
•Sales Strategy
•Launch Plan
Post-Launch Review &
Support
•Customer Support
•Performance Monitoring
•Continuous
Improvement
These components ensure that a product development project is thoroughly planned, executed,
and supported, leading to a successful product launch and sustained market presence

5. Observations
•Product managers “owning” the product outcomes will
likely focus solely on their specific initiative without
regard to integration across products.
•Dedicated agile teams in support of product
management are not a reality, as organizations are
still utilizing shared resources across teams
Optimize Outcomes With Program Management Across Product Lines – Gartner August 2022

6. Recommendations
As digital business momentum increases, leaders
responsible for evolving program management offices
(PMOs) for digital needs must apply adaptive program
management practices to:
•Define a shared vision for realizing the strategic
objectives by aligning capabilities and outcomes
across product lines and reorganizing product
management efforts accordingly.
•Improve coordination and engagement across
products by identifying and mitigating the collisions
across product roadmaps and applying a program
approach for sequencing outcomes.
•Ensure effective orchestration across product
delivery by collaborating with product managers or
teams to proactively address encumbrances such as
resource contention.
Optimize Outcomes With Program Management Across Product Lines – Gartner August 2022

7. Evolve to Product Orientation and Agile Approaches
Break work in to smaller, easier to manage
pieces
Get value sooner and adapt to changing
conditions
Organization and performance management
must also transform

8. Changing the Model
Project Plans Product Roadmaps

9. Define a Product Structure
Align groupings to:
▪Stakeholders & Customers
▪Assigned Teams
▪Product Roadmaps
▪Budget

10. Deliver Value Sooner

11. What is Product Portfolio Management?
•Product portfolio management is all about
developing and implementing a
comprehensive and profitable business
strategy for your company’s entire product
line. Making a product portfolio as strong as it
can be is the goal of good product portfolio
management.
•Product portfolio management goes way
beyond singular product management and
day-to-day project management.
Understanding the goals and benefits of product
portfolio management can not only boost your
company’s bottom line but also transform the
company from top to bottom.

12. The Purpose Of Product Portfolio Management
•Product portfolio management is the process of looking
at every product a company offers to see how well it
meets company goals. It’s also about envisioning future
product strategies for company growth, cost savings, or
other goals.
•Strong product portfolio management involves ongoing
analysis of the performance of current products as
well as market trends for the development of future
products. With a solid product portfolio management
strategy, companies can more efficiently assess which
products are at what life cycle stage, allowing them to
adapt marketing strategies accordingly.
•As part of product portfolio management, decisions are
made about which product lines to expand, which to
shrink, and what future opportunities might be pursued.

13. Strategic Objectives Of Product Portfolio Management
•Product portfolio management is meant to save a
company resources while driving revenues.
Product objectives for companies may depend on
their overall business goals and their status in the
marketplace.
•For example, well-established companies with
diverse portfolios typically build their product
portfolio strategy around expansion.
•Alternatively, a company might expand by
marketing existing products to a new audience
•Companies may also acquire other businesses.
•Smaller companies with fewer resources might
focus inward to cut costs and increase
efficiency. With a smaller portfolio of products,
the quality of each product holds more weight,
but costs might be less, thus improving profit
margins.

14. Benefits Of Product Portfolio Management
•Evaluate product performance.
•Increase efficiency. By looking at which products
meet company goals, businesses can prioritize
stronger products and launch new products more
quickly.
•Improve competitive ranking. By tracking market
trends, businesses are better able to pinpoint
customer needs and adapt to changing market
trends.
•Centralize data. This enables teams and
departments to better communicate with each other.
•Determine and prepare for risks.
•Research from Manufacturers Alliance shows that 61
percent of product managers rate product life cycle
and portfolio management as “very or extremely
important” to their role. Why? Because product
portfolio management helps businesses make
decisions in line with the reality of their products’
successes

15. OnePlan Provides the Path to Strategic Portfolio Management
A complete solution for the Enterprise
BUSINESS LEADERS
Solutions that define business goals and strategies,
as well as track progress at the levels of portfolios,
business capabilities, products and strategic
initiatives.
OKRs | VALUE STREAMS
FUNCTIONAL LEADERS
Solutions that can present the interrelated
perspectives, views and considerations needed to
make strategic decisions across the business.
ENTERPRISE ARCHITECTURE MANAGEMENT
APPLICATION PORTFOLIO MANAGEMENT
PRODUCT PORTFOLIO MANAGEMENT
EXECUTION LEADERS
Solutions that support the selection, planning and
execution of a variety of different Initiatives across
the organization
ADAPTIVE | PSA | AGILE | PRODUCT

16. Portfolio Managers
Resource Planning
Financial Planning
Work Plan
Visualizations
Dashboards
Status Reports
Plan Managers
Agile Plan
Ideation / Requests
Artificial Intelligence – Sofia GPT
Strategy
TimesheetsMy Work
Stakeholders
Team Members
Executives
Portfolio Planning
Planning
Do the right work Do the work right
Resource Negotiation
Resource Managers
Enterprise Architecture
Execution Analysis
What-if Scenario Modeling
•Products
•Services
•Applications
Capacity Planning
IssuesRisksChanges
•Business Value
•Benefits
Realization
OKRs

17. Say Hello to OnePlan’s ‘Sofia GPT’
A Game-Changer for Strategic Portfolio Management
Data Integration:
Accesses data from both OpenAI's extensive network and
OnePlan's own resources.
AI-Driven Collaboration
Sofia GPT, an advanced Azure OpenAI module, is tailored to
transform strategic portfolio and work management.
Intuitive Interaction:
Understands natural language and provides real-time responses,
enhancing strategic planning and decision-making efficiency.
Automation Powerhouse:
Simplifies tasks like data entry, information retrieval,
communication, estimation, anomaly detection, and more.

18. Sofia GPT Always Available in OnePlan

19. AI Evolution in Portfolio Management
Step 01
Step 02
Step 03
Step 04
Step 05
APIs
Scripts
Predictive Analytics
In-built AI Assistant
Fully Auto Mode
Integration
Automation
AI Based
Suggestive for SPM
AI Based
Assistant for SPM
AI Based
Autonomous for SPM
Previously Now Future
nePlan AI

20. Project
Management
Office
Innovation/
Transformation
Sales &
Marketing
Information
Technology
Professional
Services
Product
Development
R&D
For Departments and Programs Across the Enterprise
PMOs use
OnePlan solutions
to manage the
organization's
portfolios of
projects and
ensure that
resources are
being used
effectively to
achieve the
organization's
strategic goals and
objectives.
Transformation
departments and
programs use
OnePlan as a tool
to help them
prioritize and
manage the
various projects
and initiatives that
they undertake as
part of a broader
transformation
effort.
IT departments
use OnePlan
solutions to
manage their
portfolios of
technology
projects and
ensure that
resources are
being used
effectively to
achieve their goals
and objectives.
Product
Development
departments use
OnePlan solutions
to effectively
manage the
development of
new applications &
products and
ensure that
resources are
allocated
appropriately to
maximize value
Professional
Services
departments use
OnePlan solutions
to optimize their
project and
resource
portfolios, align
them with their
strategic
objectives, and
maximize the
value of their
services.
Sales & Marketing
departments use
OnePlan to
manage various
marketing
campaigns and
initiatives, such as
product launches,
advertising, and
events.
R&D departments
use OnePlan
solutions to
manage their
portfolios of
research and
development efforts
and investments
related to
innovating and
discovering new
technologies,
products, and
solutions

21. Sample Use Cases for AI in Strategic Portfolio Management
OnePlan's Sofia GPT helps
organizations make data-
driven decisions and
forecast outcomes.
Strategic
Planning
Work
Management
OnePlan's Sofia GPT helps
organizations balance
their portfolio of projects
to maximize value.
Resource
Allocation
OnePlan's Sofia GPT helps
organizations manage
resources, tasks, and
timelines more efficiently.
Investment
Forecasting
OnePlan's Sofia GPT helps
organizations identify and
mitigate potential risks to
their projects and
portfolios.
Risk
Assessment
OnePlan's Sofia GPT helps
organizations optimize
resource allocation across
projects and teams.
Portfolio
Optimization
OnePlan's Sofia GPT helps
organizations manage
project costs, budgets,
and forecasts.

22. Provide a list of viable OKRs for a Product Development Department

23. Demonstration

24. Summary and Next Steps

25. •Product Development has its own unique challenges for
success in the organization
•Better alignment with strategy and enterprise/business
architecture is needed for successful outcomes
•Product Portfolio Management and more Agile approaches
are needed for responsiveness and more informed decisions
•Increased complexity, and the fast pace of change requires
enhanced methods and approaches
•Strategic Portfolio Management (SPM) has become
important in today’s business environment
•Introduction of advanced technologies including Gen AI is
adding to the degree of change impacting the Product
Development portfolios
•OnePlan provides end-to-end Strategic Portfolio
Management in the Microsoft Cloud
•The use of AI provides valuable assistance and insights to
our SPM efforts, and Sofia GPT provides AI-enabled
capabilities in OnePlan
Summary

26. - Global PPM Leader for 5 Consecutive Years
Consistently Recognized as a Market Leader
OnePlan cited as a top vendor in
“Determine the Future of Microsoft
Project in Your Organization”
Strategy and Innovation
2023 Peer Insights
“Voice of the Customer”
Strategic Portfolio Management

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