Case Study

Background

A Fortune 500 oil and gas company designs, builds and deploys high tech products globally. Design projects perform prototype and pilot builds. Often prototypes are deployed in the field based on technologies not mature enough to meet product/project requirements. This results in schedule delays, considerable unexpected costs, and unmet client and industry expectations.

Solution

A Technology Readiness Assessment was developed and the resulting Readiness Level metric was then integrated into the existing Stage Gate Product Development process. The new assessment was piloted with two projects: one on a very complex product and started mid-development; the other on a product of medium complexity run from project initiation.

Results

The very complex product pilot saved over $10M compared to a similar product launched 2 years earlier (and still suffering an excessive field failure rate). The pilot started during the initial stages is estimating savings over $6.5M in field failure costs; it has already reduced concept to commercial release by over 10 months.

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