How can the product process development be optimized through learning from each project?

Every project undertaken is an opportunity to learn and improve on some specified areas. Close monitoring should be executed throughout all projects, and after completion, evaluation should be done to identify areas of improvement. This approach mimics the product development process. Normally, products undergo a development cycle whereby they are modified and refined to meet specific characteristics before being introduced to the market. Similarly, product process development could be optimized through the same process. Each project could be taken as a phase of product development, and after its completion, evaluation should be done to identify areas of improvement. For instance, in the case of Wipro, over 500 projects are conducted annually, which offers the company an opportunity to learn and improve its processes 500 times. At the end of a year, the project completed in December is better as compared to that undertaken in January of the same year. Additionally, Wipro handles diverse projects in different industries, which exposes the company to numerous experiences and learning opportunities to master its craft. Therefore, a company could use such exposure to optimize the product development process by adopting strategies that work effectively for different projects and improving on areas that need betterment.