Enterprise IT / Featured Tech / IT Operations

Is There a Better Way to Manage Product Development Projects?

A recent study by Engineering.com indicated there is a significant gap between how Industrial Equipment Manufacturing companies value specific aspects of their project execution and how they judge their performance. In order to address the challenging aspects of product development projects, it was determined that projects with a web-based Product Lifecycle Management (PLM) solution will perform higher.

Learn how PLM solutions with embedded project management can uniquely provide the following operational best practices:

  • Full alignment between projects and the product portfolio in order to leverage common technology platforms and launch products to market faster
  • Coordination of a project’s schedule and resources, with its scope as defined by requirements and development constraints, in order to meet market expectations
  • Automatic project task updates as development work is completed to provide a real-time understanding of project status and progress
  • Mitigating project risks based upon real-time status of product development— designs, change orders, defects, etc.—in order to stay on schedule and within budget

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Finding The Best PLM to Fit Industrial Equipment Manufacturers

While smaller Industrial Equipment Manufacturers may be able to control, access, and share product data with relatively simple Product Data Management (PDM) tools, larger Industrial Equipment Manufacturers rely on full-featured PLM systems that help automate processes and share data across global supply chains.

Industrial Equipment Manufacturer companies may find themselves in-between because:

  • Product and organizational complexity drive them beyond basic PDM capabilities
  • A full-featured PLM implementation may feel out of reach

They need to choose a system that quickly delivers the core capabilities they need to streamline product development but also gives them room to grow value over time. What’s the right size PLM to fit an Industrial Equipment Manufacturer? Let’s take a look.

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Enterprise IT

Is There a Better Way to Manage Product Development Projects?

A recent study by Engineering.com indicated there is a significant gap between how Industrial Equipment Manufacturing companies value specific aspects of their project execution and how they judge their performance. In order to address the challenging aspects of product development projects, it was determined that projects with a web-based Product Lifecycle Management (PLM) solution will perform higher.

Learn how PLM solutions with embedded project management can uniquely provide the following operational best practices:

  • Full alignment between projects and the product portfolio in order to leverage common technology platforms and launch products to market faster
  • Coordination of a project’s schedule and resources, with its scope as defined by requirements and development constraints, in order to meet market expectations
  • Automatic project task updates as development work is completed to provide a real-time understanding of project status and progress
  • Mitigating project risks based upon real-time status of product development— designs, change orders, defects, etc.—in order to stay on schedule and within budget

Request Free!