Stories & Features
New Project Proposal (NPP)—The First Step to Success
Sep 21, 2022
by
IDEX Health & Science
Have an idea? Looking to partner on a new project? The first step in a new product development project is a proposal. Below are guidelines from IDEX Health & Science on how to create a project proposal engineered for success.
Introduction:
Initial project engagement should clearly define the desired outcome and there should be discussions of perceived challenges to the greatest extent possible. In due course, a product or market manager will collect the information available and draft a New Project Proposal (NPP). The NPP will summarize all answers based on the questions listed in “what is required” from the kickoff meeting. The following information is part of an NPP:
Requirements:
A comprehensive (as much as possible) list of product requirements including form, fit, function, interface (physical connections, communication protocol), software commands, and behavior. This list defines what is required to release the product to a production workflow.
- Note that requirements may not be clear, especially when trying new technologies that may couple with systems in unpredictable
- It is also important that the teams working together discuss these uncertainties and how they may impact scope, timeline, and budget (i.e., risk assessment).
Risk Assessment (To Date):
Plan to identify risk that can be defined at any stage of the project life cycle. The team should evaluate identified risks and outline mitigation actions. A risk assessment plan should be periodically updated and broadened as the project increases bearing in mind that risks become more defined with complexity.
Timeline Expectations (Initial):
Determine the initial timeline to work within, listing specific dates as the core of all goals and objectives. This helps keep the project on track and ensures all core team members can manage the work ahead of them.
Allocated Budget (Expectations):
The budget determines the boundaries of the project and how money will be allocated to implement the activities described in the proposal. It should give a clear picture of all expenditures involved in carrying out the project.
Team Definition:
Identify key stakeholders and potential team members who will be actively involved in the project, or who may be positively or negatively impacted during the implementation of the project. Assign well-defined roles and responsibilities to each member setting clear expectations and understanding of responsibilities. The team definition should include:
- Key Contacts
- Decision Makers
- Technical Leads
- Subject Matter Experts
- Functional Managers
- Executive Leadership
- Project Leadership
- Working Project Teams
Communication Expectations:
Establish communication protocol between project teams and set clear expectations for how and when updates will be shared. Determine who will be responsible for, and who needs to be looped in on, each project communication.
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