Cost Reduction in Product Development

Cost reduction. It's on the minds of everyone we know. There's an assumption that whatever you're doing now can be done cheaper, pardon, more cost effectively. Well, maybe it's true. And maybe, just maybe, it's not. But either way, it had better be true!

In many cases, cost savings are found in the planning stages of projects. It's at the beginning where we can play scenarios out in our minds and foresee where problems may occur. With planning, we can dodge pitfalls. However, prediction is not airtight. Some things just happen: accidents, strange blips on the radar, a tantrum. They happen and no one can predict them. So, we must leave gaps in our planning for the unforeseen. This will add to our cost savings as we close our projects.

The other truth here is that you can save in the long term by constantly experimenting, running a process to see where it breaks down. That is to say, not imagining what could happen but actually experiencing the process. You may find some managers who balk at this approach because initial resource costs are a involved. And I say, they should be in the budget! Playtime! Fiddling around with stuff day! Every Thursday! That's what I would do. Work and play come together to save costs.

What a wonderful world!

Enough!

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