In a world where bargain discounts and factory outlets have captured the attention of today’s budget conscious consumer,Ā it’s not surprising that based on today’s global economy, governments (and to be more specific – the US government) are also looking for ways to cut costs.Ā As a result, believe it or not, there is company who is in the process of developing a fighter jet that would save the Pentagon $1 Billion in fuel alone annually on low tactical missions that are costing them $25,000 in fuel for every F-16 Jet led into these missions.Ā Textron AirLand was formed to
Famous technologist and billionaire Elon Musk (co-founder of PayPal) has recently promoted his idea of changing the landscape of travel with his futuristic Hyperloop concept that suggests that for the fraction of the cost ($6 Billion) than the current railway project in California his solution will deliver commuters to their destinations in half the time of commercial flights.Ā The idea is to build a “Jetsons-like” tubular route in which passengers of six would be launched every 30 seconds in enclosed aluminium pods travelling supersonic speeds to their destination. Although it all sounds a bit unreal, most of the technology he
With both Indiegogo and Kickstarter websites attracting start-up projects around the world, the ability to leverage the ‘micro-investments’ of thousands around the world has not only empowered many business ventures regardless of location or connections, but has also delivered valuable consumer insight and market research that has been typically too expensive and difficult to achieve with the limited funds most start-ups have.Ā The concept of crowdfunding has leveled the playing field allowing the value of projects speak for themselves and efficiently engage markets to be true accelerators for growth.Ā Beyond the obvious financial benefits to crowdfunding, the idea of attracting
The “Hollywood” sign is one of those iconic structures that conjures up images of celebrity, fame and the American dream.Ā As a symbol of the entertainment industry, the Hollywood sign is recognizable around the world.Ā What most people do not realize, is that the sign’s original intent was quite mundane.Ā In fact, it was the extraordinary birth and changes of the entertainment industry in the surrounding area that raised the sign to its iconic status as we know it today.
Although the Porsche 911 will celebrate its 50th anniversary in a few months, it definitely doesnāt look its age!Ā It is an absolute classic among sports cars and its timeless design never goes out of style. Ā In the world of Project Management, the Porsche 911 is certainly a flagship project. Ā According to German magazine āMotorKlassikā only 10 prototypes were built prior to its release in September 1963.Ā This fact alone, is almost unbelievable, compared to todayās mass-production manufacturers who can burn through 100s of prototypes before a product launch.
Many would agree that the Eiffel Tower can be labelled one of the greatest architectural achievements of all time.Ā However, the journey to great projects are typically riddled with many bumps, obstacles and controversy.Ā The fact is the Eiffel Tower project was no less immune to this reality.Ā From the time of its conception to act as the symbol (and as the archway entrance) to France’s World Fair in 1889 to its transformation as a critical communication tower during the First World War and its iconic design attracting millions of tourists a year, the Eiffel Tower has proven that the
In a world where innovation moves at the speed of light, most of us take for granted of the many great innovative NPD projects that have improved and changed the way we live.Ā The truth is many NPD projects sustain battle scars from years, and in many cases decades, proving their worth and/or acceptance for their intended audience. The reality is 90%-95% of great innovations initially fail. Ā In fact many great innovations were created by technologists and inventors who had no concept of market acceptance or the desire to fill the need of a particular audience.Ā Moreover, even in the
More often than one would expect, when we look at the original inventors of many of history’s great inventions they are marginalized in their association to their inventions.Ā Have you ever heard of Ferdinand Verbiest or Otto Lilienthal? Does Karl Benz and the Wright Brothers sound more familiar?Ā Although the first two people mentioned are the original inventors of the automobile and airplane respectively, the latter tend to be attributed to these inventions due to their ability to move beyond the inventions themselves and connect to the people who would popularize their use.
For many project-driven organizations, especially those in new product development and innovation, one of the toughest challenges is managing a pipeline of potential projects and making an objective and well-informed decision on which project to place your bet on.Ā A strategic project selection process will ensure that the right metrics, experts and stakeholders are involved in the assessment and prioritization of your pipeline.Ā The right project selection strategy allows for an organization to maximize its potential for success and improvement across its current and future portfolio.