Investigation Phase
Develop the idea by gathering readily available data; preliminary identification of target market, application and product concept. Determine plan for feasibility phase focusing on voice of the customer and competitive data collection, concept identification, assessment and selection and data needed to develop a comprehensive business case.
Project is “proposed” in this phase.
KEY TASKS
- Define target market and initial product concept
- Conduct preliminary research on customer needs & market potential
- Perform preliminary competitive assessment
- Establish preliminary target price and cost
- Develop initial business case
- Develop plan for the Feasibility Phase.
- During the Investigation Phase, gather readily available data to refine the proposal and to determine research to be performed in the Feasibility Phase
- Gather readily available data on customer needs and competitive solutions
- Preliminary identification of likely technical concepts
- Preliminary business case based on similarities with past projects