Future Directions Handbook
Products and Services
This section will outline steps and information to evaluate and develop a product not within the traditional IEEE core competencies.
Business Case Development
Developing a business case will allow the initiative to outline potential market for the proposed product. The case should include the following elements.
- Mission or Vision: Define how this product supports the strategic direction and mission of IEEE
- Product Audience definition
- Survey potential audience to get an idea of feasibility
- Will there be international factors to consider (issues specific to a local market that may affect viability)
- Market Research for potential existing/related products:Define market potential with audience data and competitive analysis, overall size of market, projected growth
- Outline possible monetization options
- Subscription based
- Unit charge
- Sponsorship model
- Initial cost estimations
- Competitive advantage: Identify aspects of this product that will provide a competitive advantage to IEEE over possible other similar products
- Measures of success: Identify what measures will be used to determine if the product is successful
Product Definition Development
- Product Scope: Determine what key features and USP this product has
- Product requirements definition
- Product development planning
IEEE Related Process
- Development of Business Case Document (BCD)
- Obtain approval of BCD and secure funding
- Start writing BRD (Business Requirements Document)
Product release planning
- Product Roadmap
- Beta release
- Initial Launch
- Maintenance of product
- End of Life
Best Practices for Development of Products or Services
- Establish an up-front written contract with OU(s)/society(ies) to develop a specific application or product, and keep them involved in the process throughout to insure engagement and commitment throughout the lifecycle of the initiative..
- Partner with IEEE MSD (Marketing, Sales, and Design) from the start of the initiative
Reference Material