What is the waterfall model?
While there are many product management methods, the waterfall design model has several key characteristics that set it apart. Picture a waterfall. Each drop of water progresses along a clear path until reaching its goal — the body of water beneath. The steps involved in the waterfall method also follow a prescribed linear path, requiring that each step be completed before moving on to the next. Each phase is clearly defined before the process begins.
The waterfall method is typically employed when your team has a precise idea of what your final product will look like, the project is fairly short-term, and the requirements are unchanging. This model is ill-suited to complicated projects with poorly defined requirements or fluctuating customer needs.
What stages make up the waterfall model?
While the waterfall model process can include between five and seven steps depending on the scope of the project, it is typically comprised of five steps. Here are the stages that make up this product lifecycle management method:
- Requirements. This initial phase involves gathering information and determining what your customers require from your final product. It identifies anticipated expenses, timelines, individual and team roles, and requisite resources. It also provides a detailed description of each stage of the project. This is a lengthy and extremely crucial step as it will guide the following steps and the outcome. It is also the only stage that gathers customer and stakeholder input for the product’s development.
- Design. Once your product’s requirements are determined, it is time to design the project. This includes the design of blueprints, technical specifications, and a description of the processes and procedures involved in the product’s creation. It also solidifies decisions made during the requirement phase, such as scheduling, resource allocation, expectations from team members, the objectives of each step, and how you will measure success.
- Implementation. If the previous steps have been completed correctly, this next phase should go smoothly. Each team member knows their role, so it’s now time to put the plan into action. It is important, however, to monitor progress according to the set milestones, tracking any problems or hindrances. While small changes may be possible, large ones could require returning to the initial phase.
- Verification. The goal of this phase is to determine the answer to this question — does the product solve the problem it was designed to solve? You may wish to recruit customers or a quality assurance team to test the product for glitches or mistakes and document their findings. You could even create and use customer satisfaction surveys to collect this information. From there, steps can be taken to rectify any issues.
- Deployment. This is your official product launch to the marketplace, but your work does not end here. It is important toask customers for reviews and watch for feedback that can inform future product development.
What are the benefits of the waterfall model?
When determining which product lifecycle management framework to adopt, it’s important to examine the benefits of each. Here are some of the positive elements of the waterfall design model:
- Detailed documentation. The detailed documentation required for this method leaves little room for guesswork. Every aspect of the product’s lifecycle from conception to rollout is carefully planned with each person’s role clearly written out. This enables you to easily assess progress and access valuable information for future products. Plus, if a team member leaves, this written record will enable someone else to easily pick up where they left off.
- Realistic expectations. By outlining the details of a product’s development at the very beginning, your organization can provide a clearer picture of the costs, timeline, and final product. This gives your team, stakeholders, and customers a good idea of what to expect and helps you set your project budget more accurately.
- Simple tracking. The waterfall approach’s clearly delineated design provides measurable project management milestones, making it easy to track the project’s progress.
- Decreased risk. Thanks to meticulous planning, this model is designed to identify and address a multitude of risks at the beginning of the project. This enables your organization to better formulate a realistic project budget, identify and procure required resources, and set doable deadlines.
- Simplified future endeavours. After a successful product launch using the waterfall model, you will be well-positioned to replicate your success. Thanks to your detailed planning and record-keeping, you can apply the same approach to future projects.
What are the limitations of the waterfall model?
Each product lifecycle management framework has its limitations and the waterfall method is no exception. Here are some of the potential problems associated with it:
- Little flexibility. The heavily pre-planned nature of the waterfall model makes this framework inflexible. The only stage that allows for the consideration of customer needs and the development of product features is the requirements phase. If customer needs evolve, there is little to zero wiggle room. This can lead to lower levels of customer satisfaction. For example, the Government of Ontario notes that the waterfall method falls short when developing products or services where “people’s needs and expectations are constantly changing and are being influenced by rapid technology changes.”
- Limited customer input. Customers may not be able to conceptualize the product presented to them in the requirements phase, making it difficult for them to offer meaningful feedback. Furthermore, the testing stage occurs late in the framework, meaning your company could encounter product limitations or glitches that could become costly.
- Potential for bottlenecks. The waterfall’s design doesn’t allow your team to pivot. Each stage must be completed before moving on to the next one; therefore, if one phase falls behind, they all do. This can lead to deadline issues. Interestingly, the Department of National Defence has traditionally used the waterfall method for procurement , but due to the method’s slow nature, they have stated it does not work for software and high-tech digital capability development.
What other product lifecycle management models exist?
There are many options available to you when it comes to PLM frameworks. Here are a few common alternatives:
Agile
The agile method’s key characteristic is in its name — agility. With its roots in software development, this PLM framework is highly flexible and produces quick results. How does it accomplish its expediency? Agile project management relies on a steady stream of customer feedback to create iterations and improvements. It incorporates collaboration, creativity, adaptability, continual improvements, and a great deal of client interaction.
Lean
The lean product lifecycle management model’s biggest selling feature is its ability to reduce waste throughout the product development process. How does it accomplish this? This method simply seeks to give the customers exactly what they need and nothing else. In turn, valuable resources are put towards delivering these desired features instead of extraneous bells and whistles. Rather than devising a complicated plan, they simply focus on customer needs and using resources wisely.
Jobs-to-be-done (JTBD)
The JTBD framework operates from a focused perspective — why would a customer buy your product? To answer this question, you must find out what job the consumer needs to do. This needs-based approach enables you to focus on solutions to problems, but it can also be tailored to address both the social and emotional requirements of your customer base.
Choosing the right product lifecycle management framework is vital to your company’s next product rollout. The waterfall model may suit your needs, but it may not. By thoroughly researching your options, you can become better equipped to select wisely.
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