Combining the disciplines of marketing, customer insights, and engineering enables organizations to maximize product value while optimizing costs. Taking an end-to-end approach, program participants learn how to design products optimized along both the customer value and product cost parameters, while exploring competitive benchmarking, customer preference analysis, and cost-efficient design.
Participants will discover best-practice product development and benefit from increased understanding of the efficient line management of engineering departments. A hands-on learning environment enables them to experiment with behavioral factors around managing and optimizing cross-functional teams as they practice the leadership and motivational skills required to bridge the gap between marketing and engineering. Personalized coaching will help you quickly apply tools and techniques within your own company environment
Experiencing product development as a set of tangible processes brings to life the best practices that reduce development cycle time. Participants will learn product development methods and tools developed alongside leading companies, which have been deployed on a large number of successful transformations. There will be the opportunity to practice leadership skills and how to motivate teams of change agents and engineering managers to drive improvements. You will be able to discuss learnings with your top team and map out your product development transformation.
Your capability-building journey
The product excellence modules draw on examples of electro-mechanical systems as part of a dynamically paced capability-building session. This brings together theory and practice along the length of the end-to-end design-to-value process:
- Benchmarking—what it is and how to do it
- Customer value/preference analysis through test purchases and online surveys
- Actual teardown of real products (electro-mechanical systems) and creation of best-of-benchmark products in terms of value and cost
- Final design proposal, which optimizes against constraints
The tools and techniques learned can be immediately applied in participants’ own companies, with clients reporting improvements of 10–30 percent in product gross margin.
Covering the whole product development value chain, the development excellence programs explore best practices in a hands-on context by immersing participants in a realistic working environment right from the start. This includes actual robots to be built and tested alongside simulations of mechanical, electrical, and software design and prototyping as part of the end-to-end development process.
McKinsey experts lead the interactive sessions, focusing on key learning topics and real implementations, to highlight the critical success factors that drive transformation of development processes in real organizations. The tools and techniques practiced can be immediately applied in participants’ own companies—client case studies from the semi-conductor industry demonstrate a 25–50 percent reduction in product development cycle time.