Our clients have shared with us the most important questions they have regarding project management. The first one is, how do we make sure we get the medical device to market on time?
That’s clearly our client’s number one priority, as medical device development (for products to sell) drives a medical device company’s top line in years to come. When a project is delayed, it can remove the product from the market completely as it may already be obsolete due to evolving market needs and advancements by competitors.
When writing this, we considered several different flavors, from how to get to the market on time to how to screw up the project the best way. Hope you enjoy it.
So how do you ensure a product gets completed on time?
Follow these dos and don’ts.
1. Don’t: have research on a critical path
Do: be sure that there’s no research on a critical path
Not knowing if a feature works can add YEARS to a schedule. We don’t want that. Ensuring there’s no research on a critical path can help maintain momentum and meet deadlines without stalling the project in case of an obstacle.
To do that, you need to:
- Identify potential bottlenecks in research processes.
- Allocate resources for parallel research paths to mitigate delays.
- Implement AGILE methodologies to streamline research and development phases.
- Have mechanisms in place to regularly assess and address project delays, if any.
2. Don’t: write a thesis for your project definition
Do: have a project definition of 25 words or less
What is project definition?
A project definition is a concise statement outlining the objectives, scope, deliverables, and success criteria of a project.
Having a clear project definition ensures everyone is working towards the same goal while reducing misinterpretation. And 25 words(or less) is perfect for it. Any more than that can lead to a project with different, multiple potential outcomes. You can elaborate on that project definition, but the project description of 25 words or less needs to be able to stand alone.
Read how project managers can effectively scope and plan a new project.
3. Don’t: go in unplanned
Do: plan the project thoroughly, considering all resources to get the medical device to market on time
This means minimizing costly delays by:
- Conducting comprehensive resource assessments to identify required funding, personnel, equipment, time, and software.
- Developing detailed project plans outlining timelines, milestones, and resource allocations.
- Incorporating contingency plans to address resource constraints or unexpected challenges.
- Continuously monitoring resource utilization and adjusting plans as necessary to optimize efficiency.
4. Don’t: just keep your management in the loop / updated
Do: gain management approval of the project definition and plan, involve them in the major decisions
Having a project sponsor is always a huge plus. It ensures organizational support, alignment with strategic objectives, and accountability throughout the project lifecycle. You can get management approval by:
- Presenting the project definition and plan to them for review and feedback.
- Addressing any concerns or questions raised by them to ensure buy-in and support.
- Seeking and documenting management approval to establish accountability and alignment with organizational objectives.
5. Don’t: set and forget your project plan and device functions
Do: be vigilant of scope creep, and carefully manage changes
This project killer is often overlooked. If poorly managed can balloon the budget and timeline of a project to many multiples of the original. (Most of us blame marketing for the addition of features, but it’s almost always the engineers who come up with many little things over the project timeline – I’m an engineer so i get to say that….) So you have to watch out from time to time, or a lot.
Establish a formal change management process where you:
- Evaluate and prioritize requested modifications
- Communicate the impact of proposed changes on the budget and project timeline
- Monitor the project scope carefully
you can maintain focus on key objectives, preventing project delay.
6. Don’t: update the project timeline dealing with risks as they come
Do: have a robust risk mitigation plan in place
Things go wrong on almost every project and a thoughtful and diligent review of what could go wrong in advance of them occurring allows for the best solutions. Especially during stressful moments in a project caused by things that could go wrong. Things that could have been planned for.
A robust risk mitigation plan includes:
- Performing thorough risk assessments to identify potential project uncertainties.
- Developing proactive risk mitigation strategies, assigning responsibilities and clear escalation procedures.
- Regularly reviewing and updating the risk mitigation plan to adapt to changing project dynamics and emerging threats.
7. Don’t: communicate as needed.
Do: create a communication plan – this goes a long way to ensure a medical device project gets to market on time.
A solid communication plan ensures that everyone involved with the project receives the necessary information and direction promptly. Defining this communication plan early in the project can streamline the entire project team’s ability to perform. This means knowing exactly how to communicate with company management, project team, peers, and external stakeholders.
Avoiding the don’ts and performing all of the dos well gives a project the best chance of success. But it’s still not 100%.
That’s where a highly skilled medical device project manager comes in. They will focus on all of these items giving your company the very best chance of succeeding with this project. If you’re looking for one, we may have a perfect fit project manager for your medical device company.
Our mission at Waddell Group is to provide exemplary project management consultants to clients in medical devices and other regulated industries. This gives companies access to great project leaders on an “as needed” basis, and an opportunity for gifted project leaders to work on projects outside an organization’s politics and other “non-project” related issues. If this is something you’re looking for, email us at connect@waddellgrp.com or book a free 30 minute meeting to discuss your needs using the button below.
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