MIDIOR takes a unique approach to understanding and assessing our clients’ businesses by examining every organization through the lens of the product. Our starting point is always the products or services you sell and we work our way out from there along four important dimensions, using a proprietary framework we call P4.
By using the MIDIOR P4 framework, an organization can quickly uncover all of the functions supporting development and delivery of products or services and how they work, or don’t work, together. To create, manage and deliver “best-in-class” products, you need formalized “best-in-class” product development and management functions.
Fewer platforms, greater leverage
Think about the building blocks you invest in to construct your products and services and how you get them into the hands of your customers. Do you find your product portfolio peppered with custom enhancements or one-offs? Do your new product releases offer significant capabilities of value to your customers or are they full of maintenance and iterative, feature improvements?
Many of our clients, particularly in the services industry, find themselves creating a technology project, which they may call a product, that is then deployed through one point of delivery to a single customer. As the customer base grows, they end up with multiple custom development efforts evolving in parallel, with no economies of scale. Mature industries with clearly defined functions around product development, such as fast-paced consumer goods, endeavor to have as few platforms as possible, delivered through many points of delivery to many types of customers. This same model can be applied to any type of business if there is the motivation to professionalize the product development and management functions.
Diagnose your organization
The P4 framework is most useful as a diagnostic tool to assess where your company sits on this continuum to best-in-class product development. Although MIDIOR does not recommend one organization model for all companies, there are critical product management and development functions we look for in every organization.
If you can fill in all the boxes with the individuals responsible for the roles in MIDIOR’s functional blueprint, and these individuals understand their roles in the organization and they work collaboratively, then you can be confident that your product development and management teams are firing on all cylinders.
Benefits of the P4 framework
By applying the P4 framework. MIDIOR can quickly identify how closely your organization aligns with best practices for developing new products and services to meet defined strategic objectives. The benefits of this methodology include: