DR Versa Trailer Result of Project Leader Passion and Fail Fast Fail Cheap Learning
The Project Leader is the energy source for new ideas in the Innovation Engineering Management System. One of the traits of great project leaders is a Passion for the Project and the Innovation Process. Innovation projects experience lots of ups and downs. To maintain momentum, the Project Leader must have a personal, intrinsic passion for the idea and deep love for the process of turning innovations into reality.
Michael Johnston at Country Home Products wanted to add a trailer to the DR Power Equipment product family; but didn’t have a product idea that was “wow” enough for the company to commit time and resources to a development project. This is where the “Fail Fast Fail Cheap” structure of the Innovation Engineering Management System enters the story. Fail Fast Fail Cheap uses the scientific method or Plan Do Check Act cycles and provides a low cost and quick way to test and refine ideas before making a commitment to invest money to take a product to market. Each week the Project Leader identifies the biggest death threat to the project, creates a hypothesis or plan for what they want to learn, and runs a quick test to get smarter. And each week the Project Leader makes a recommendation to either kill the idea or continue with another Fail Fast Fail Cheap learning cycle. A decision about whether to go “all in” on the idea and invest the resources to take it to market is typically made in less than 100 days.
With Michael’s passion and Fail Fast Fail Cheap (FFFC) structure of the Innovation Engineering Management System, Country Home Products introduced the Versa Trailer in March 2012. “I had tried for two years to get traction into this category. It was only due to the FFFC that I was given a chance because what did I have to lose. All I was asking for was one week at a time.”
Check it out on line – DR Power Equipment Versa Trailer.