Question

Provide an example of a project that might fall into one of the following project categories. Justify your answer.

1.Derivative projects

2. Platform projects

3.Breakthrough projects

4. R&D projects

Answer 1

1) Derivative projects - These are the projects that are additions to the existing products. It is just like the improvement work done to the existing products.

Like for example, iPhone series. A derivative project can be taken up on the latest existing iPhone series in the market. Then for that phone series, new features are added such that it brings something new with every new series that is released to the market. Or sometimes special editions like "iPhone X" will be released to the market with limited piece availability to understand what consumer really wants. Such projects are called derivative projects.

2) Platform projects - These are the projects which are considered as next generation products for the company. They are much advanced products when compared to the derivative projects.

Like for example, retina scan in a phone is an advanced feature. It is a platform project since a new advanced technology is used to scan the retina of the eye of the phone owner in order to unlock the phone. This is a new platform and completely new feature when it was introduced by the company. Since such projects are advanced, and use new technological platform, these are called platform projects.

3) Breakthrough projects - These are the projects which are considered to have biggest breakthrough and revolution in the product or services market. These projects are highly appreciated and rewarded projects and at the same time highly risky projects as well.

Like for example, driverless cars. These cars are a breakthrough in the automobile world. The technology behind the car is a biggest breakthrough project which comes under highly rewarding category. But at the same time, this is a highly risky project, because without a physical driver, the car may not be able to take right decisions at any required time.

4) R&D projects - These projects are under the new invention category which is still under research and development process. The end product that is released to the market might take time, but the buzz about the product and its project always keeps consumers waiting with the curiosity .

Like for example, 3d televisions. These require lot of time, effort, money and other resources to make it successful.