Practical template to help you decide which new projects to start.

One of the great aspects of being a product manager is creating new exciting products that delight customers. During the year you create a list with new products your customers can only dream of J.

How to choose the best ones out these great new ideas?

Probably your company does not have resources to do them all. Neither do all new product ideas have the same profitability and sales potential. You will need to make a choice.

Of course you want to do this based on facts & figures, in order to motivate your proposal to your team and manager.

The New Project Form is a great tool to help you decide on which new projects to start.

I developed this form based on my experience using several templates over the past years and combined the best practises into a new effective template.

Before starting a new project, you probably have done some research already on the new product idea. If you have a good feeling about its technical, commercial and financial feasibility, you can start filling in the New Project form.

The New Project Form describes subjects like:

  • New product idea description
  • Target customers
  • Replacement product or new product
  • Estimation of total costs
  • Expected pay back time
  • Expected cost price
  • Expected margin
  • Expected sales price
  • Expected sales quantities
  • Expected resources needed

A solid decision which new projects to start

With all this data you and your team are able to make a solid decision on which new projects to start. Next to being a helpful tool, this form also includes a ‘signature area’ for decision makers to sign off on the agreement to start the project.

Providing you with a proper solution to document and archive which projects are approved.

Check out the New Project Form, to help you describe new projects and prioritize them.

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