Feature Driven Agile Product Innovation Management Framework

Lean Product Innovation is an important business strategy for a stable market penetration with essential technological advancements in an ever-growing, competitive market and its customers. In any R&D engineering center like ours, the innovation management strives to launch new competitive, innovative products with high profiting business models in the shortest lead time possible. In this paper, a novel approach is proposed that embarks the journey of innovation product development from an idea to a perceivable minimum viable product (MVP) using a Feature driven method. This method is derived from the pull innovation concept, based on the customer needs and requirements, and features scaled against their technology readiness level. This method has been piloted in our engineering center and has proven to be effective in minimizing risks in product development and adapting market strategy in its business models.