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How to price your products to maximize demand and profit and create a strong business strategy using the Predictive Innovation® with Flying Cars as an example
Innovation projects have many risks. Some of these risks are controlled with project management techniques. Other risks are assumed unavoidable. Staged Gate attempts to limit the impact of the risks by setting up regular intervals to fail and start over. That is a fancy way of saying trial and error. Predictive Innovation® can prevent the failures, thus saving time and money.
Projects like constructing a building have well known steps. Budgets and schedules can be accurately estimated because the tasks have been performed before. Innovation projects always deal with some aspect that has never been done before. That newness introduces two types of risk, first is what to do and second is how to do it. This breaks down into 6 mandatory sequential outcomes. All 6 must be completed successfully for the innovation project to succeed.