The adoption of Agile project management techniques has been a key driver of improved new product development (NPD) productivity in tech and software companies (along with Moore’s law and industry adoption of technical standards). Here are ten ways Agile project management differs from traditional gantt-based management.
Continue reading “Ten Ways Agile Project Management Differs From Traditional Gantt-based Management”
I’ve been writing recently about the wholesale abandonment of Gantt-based project management (including critical chain) by software and tech companies. In the software world, the Gantt approach has been wholly supplanted by Agile Project Management. Agile Software Development is a class of new project management techniques that has become standard practice at modern software companies, including Google, Spotify, Amazon and practically every software startup. Agile-based new product development (NPD) leads to products that better meet customer and business needs, with shorter development timelines and with less development investment. What’s not to like?
What is Agile?
Continue reading “Improving New Product Development Productivity – the Agile Approach”
In a recent post http://jaycaplan.com, I explained why medtech companies should look to software and tech companies, to improve project management techniques to drive increases in new product development productivity. Today I’d like to re-emphasize that despite common belief, new product development is rarely limited by the classical critical path. Instead, I assert that our timelines are almost always capacity limited. You’ve been trained not to believe me, but I beg you to look at the evidence dispassionately. Read on to learn more.
Of all the important elements of medical device new product development (NPD), project planning and management gets the least attention and is the most poorly performed. Full stop.
We expend tremendous product development effort to deliver patient safety, product performance, and physician ergonomics. We design for cost, manufacturability, and reliability. We agonize over the wording and acceptance criteria of every requirement. Our drawings are exquisitely toleranced. No spec is left unverified or unvalidated. Instruments and fixtures are IQ’d, OQ’d and PQ’d. Manufacturing processes are thoroughly validated. We justly take pride in these achievements. One medtech engineer told me that he sleeps better at night knowing his risk analysis was well-done.
Yet when it comes to planning a project, our attention wanders. We put in some effort, get frustrated by the complexity and ambiguity of the project tasks and dependencies, and call it “good enough.” We don’t put nearly the effort into planning that we put into FMEA’s or inspection instructions. We write something up, get it signed, and a couple of weeks later, project plans lie quietly buried and already outdated in a design history file. Most of the time, we don’t know how to make the plan any better, even if we wanted to.
Sound familiar? Software companies have shown us that there is a better way.
I’m not going out on much of a limb when I say that, as an industry, medical device companies are not particularly strong in project management. A tool (like Microsoft Project) is not a management technique. Program management offices abound in larger companies, but rarely do you find a systematic approach to defining the activities of project management. The Critical Chain approach has advantages over a traditional Gantt chart, but at the end, it’s still only a tool. We’re really stuck in last century thinking.
There is a better way. Read on to learn more.
The New England medical device startup community is an amazing innovation ecosystem, producing great products and great companies over several decades. New startups are the lifeblood of that ecosystem, so I’ve been tracking first-time venture financing of medical device companies in New England since 2005.
I’m way overdue for an update. You’ll find my 2014 Q4 New England Venture Funded Medical Device Startup List linked below.
Continue reading “New England Venture Funded Medical Device Startup List 2014 Q4”
At Fractyl we’re building an amazing team – the best I’ve ever worked with. Our team is super smart, highly productive, and absolutely dedicated to our mission. We see the big picture but we aren’t afraid to sweat the details. We also know how to have fun.
Great teams start with great recruiting. Recruiting best practices are important, but not enough. Read on to learn how we’ve built best team in medical devices.
It’s been almost exactly one year since I updated my list of healthcare venture capital funds with money to invest. I posted updates nine times between late 2010 and late 2012, so a new version is way overdue.
Today, I’m happy to provide an updated list, complete through 2013. While 2013 was no 2003, there are still lots of new funding sources looking to invest in great healthcare startups. Further, Bruce Booth of Atlas Venture predicts that “several other high profile life science funds are ramping up for 2014 fundraises.”
I’ve again included some non-VC firms in the list, as financing can sometimes come as debt, private equity and/or sales-of-future-royalties. I’ve also included some announcements from firms that are no longer investing, as it’s best to identify those firms early.
Continue reading “List of Active Healthcare Venture Capital Investors – 2013 Q4”
Every once in a great while I read something so well stated that I put down my book/ipad/kindle and just reflect.
So when I recently read a post from Mike Sellers on Quora, I had to share it with you. Mike was responding to the question “As first time entrepreneurs, what part of the process are people often completely blind to?”
Mike wrote beautifully about software companies (read his original post here).
I’d tweak his words slightly for medical devices. Here’s my modified version of Mike’s post: Continue reading “Engineering Is Not Product Development”
My colleague Jeff shared a great blog post recently, “The Start-Up Trap” by Uncle Bob. While the post is ostensibly about coding, the philosophy applies broadly.
Definitely worth checking out.
Jay Caplan on Medical Devices 