The Power of PACE—Applying the Product and Cycle Optimization Method in Product Development

Author: (USA) McGraith (Compiler), Xu Zhiqun (et al.) (Translator)
Publisher:
Publish Date: 2004-05-01
Features: After significantly improving execution capabilities, a growing question has emerged: In which direction should we proceed? Intense competition has made more and more people realize that product development is the main battlefield of business in the 21st century, and Product and Cycle Optimization (PCO) undoubtedly helps us move in the right direction.
Question 1: What is PCO?
Question 2: Which companies are implementing PCO?
Question 3: What are the benefits of PCO?
Question 4: What is the greatest advantage of PCO?
Question 5: Who will benefit from this book?
Pittiglio, Rabintodd & McGrath (abbreviated as PRTM) first proposed a product development process based on the PCO concept in 1986. Subsequently, many companies have adopted it as the best practice model for product development. In 1995, U.S. companies invested approximately $100 billion in R&D, of which $15 billion was spent on PCO, accounting for 15% of the total investment. As more and more companies adopt this method to improve product development, this proportion continues to rise. Currently, nearly 80% of Fortune 500 companies are implementing PCO. In many aspects, PCO has become the standard reference model for product development processes, providing a universal framework, standardized terminology, industry-wide process benchmarks, and continuous improvement processes.
This book introduces the key elements of PCO, including phased reviews, core teams, structured development, and development tools and techniques. The uniqueness of PCO lies in two aspects: First, its concepts, techniques, and management experiences have subtle differences, making it more practical and successful; second, it is a comprehensive framework where all elements collectively create a successful path for improving product development. Compared to other excellent books on product development, this one is based on practical experience rather than theoretical teachings. Because PRTM collaborates with 20 to 25 major companies almost every day to help them implement the best practices of PCO. We believe this book will give you a fresh perspective and understanding of product development, enabling you to better develop the "right" products.