How to Determine the Cost of Your Next Orthopedic Project

When:

Wednesday, June 15 | 10:30 am - 11:15 am

Where:

Room 45

Level:

Intermediate

Advanced

Participant Type:

Product Development


How to Determine the Cost of Your Next Orthopedic Project

"How much will project x cost?" This is likely the first question engineering will be asked about their product idea. Every company wants their projects to cost less and be done faster, and they want to know that before they authorize and commit people and money resources to the product's development. The question is fair and essential and requires a great deal of detail and work to provide the answer.

The best approach in determining project cost is not to guess and feel rushed to provide the answer. What is needed to develop a good answer? A team approach and understanding of the design architecture, expert advice, regulatory pathway, clinical trials requirements, technology complexity and, finally, the length of time you have to get it done. These elements are unique to each project and are also company-specific a lot of times. The bottom line is that the more you know, the better your project development cost estimate. This session will arm you with the questions you need to answer to provide an accurate estimate of your project's cost.

Learning Objectives

  • Understand how to accurately determine project cost

  • Gain knowledge of the important questions to ask and whom to ask

  • Learn best practices based on past examples


Speaker

Shaher Ahmad

Partner | Product Lifecycle Management,

Factor 7 Medical