Launching a new product can be a daunting task for any business. 

It requires careful planning, collaboration, and execution to ensure success. As a project sponsor, it’s important to be involved in every process to ensure that the product aligns with the company’s goals and delivers value to the target market.

Here is a checklist for project sponsors to follow to ensure a successful product launch:

1. Clearly define the product’s value proposition and target market. This is essential to ensure that the product delivers value to the right audience and meets their needs.
2. Review and approve the product roadmap and timeline. The product roadmap should outline the key features and functionality of the product, as well as the timeline for development and launch. It’s important to ensure that the product roadmap aligns with the company’s goals and priorities.
3. Understand and approve the prioritised key features and functionality. You should prioritise the key features and functionality of the product based on customer needs and business goals. As a project sponsor, it’s important to review and approve the prioritised list to ensure that the product delivers value to the target market.
4. Collaborate with the product development team to provide input and feedback on product decisions. As a project sponsor, it’s important to be involved in the product development process to provide guidance and feedback on product decisions. This can help ensure that the product aligns with the company’s goals and delivers value to the target market.
5. Approve the product launch plan and all necessary resources allocated for product development. The product launch plan should outline the steps and resources required to develop and launch the product. As a project sponsor, it’s important to review and approve the plan to ensure all necessary resources are allocated for successful product development and launch.
6. Review and approve the product marketing materials and sales collateral. The product marketing materials and sales collateral should effectively communicate the product’s value proposition and key features to the target market. As a project sponsor, it’s important to review and approve these materials to ensure they align with the company’s goals and effectively market the product.
7. Approve the pricing and packaging options. The pricing and packaging of the product should align with the target market and the product’s value proposition. As a project sponsor, it’s important to review and approve the pricing and packaging options to ensure they are competitive and deliver value to the target market.
8. Understand and approve the distribution and channel strategy. The distribution and channel strategy should outline the channels and partners through which the product will be sold and delivered to the target market. As a project sponsor, it’s important to understand and approve the distribution and channel strategy to ensure that the product reaches the target market effectively.
9. Review and approve the product training plan for sales and support teams. The product training plan should outline the steps and resources required to train the sales and support teams on the product’s features and functionality. As a project sponsor, reviewing and approving the training plan is important to ensure that the sales and support teams are prepared to sell and support the product effectively.
10. Understand and approve the customer support strategy and plan. The customer support strategy and plan should outline the steps and resources required to support customers effectively after the product launch. As a project sponsor, it’s important to understand and approve the customer support strategy and plan to ensure that the product delivers value to customers and builds customer loyalty.
11. Review and approve the product launch timeline and schedule. The product launch timeline and schedule should outline the key milestones and deadlines for the product launch. As a project sponsor, it’s important to review and approve the timeline and schedule to ensure that the product launch is on track.
12. Understand and approve the marketing and advertising plan. The marketing and advertising plan should outline the steps and resources required to promote the product to the target market effectively. As a project sponsor, it’s important to understand and approve the plan to ensure that the product is effectively promoted and reaches the target market.
13. Establish key performance indicators (KPIs) to measure product success. You should carefully select the KPIs to measure the product’s success in terms of customer satisfaction, revenue, and other relevant metrics. As a project sponsor, it’s important to establish and monitor the KPIs to ensure that the product is delivering value and achieving its goals.
14. Review and approve the product launch budget and allocated resources. The product launch budget should outline the costs and resources required to develop and launch the product. As a project sponsor, it’s important to review and approve the budget to ensure that the necessary resources are allocated for successful product development and launch.
15. Understand and approve the post-launch evaluation and feedback plan. The post-launch evaluation and feedback plan should outline the steps and resources required to gather and analyse customer feedback on the product. As a project sponsor, it’s important to understand and approve the plan to ensure that customer feedback is used to improve the product and enhance customer satisfaction.
16. Review and approve the beta test plan and results. The beta test plan should outline the steps and resources required to test the product with a select group of customers before the official launch. As a project sponsor, reviewing and approving the beta test plan is important. It results to ensure that the product is ready for launch and meets customer needs.
17. Attend product demos and presentations for potential customers. As a project sponsor, it’s important to attend product demos and presentations to provide guidance and feedback on the product and gain insight into customer needs and preferences.
18. Review and approve product documentation and user guides. The product documentation and user guides should be clear and comprehensive to help customers understand and use the product effectively. As a project sponsor, it’s important to review and approve the documentation and user guides to ensure that they are accurate and helpful.
19. Review and approve the product launch checklist and timeline for all teams involved in the launch. The product launch checklist and timeline should outline the key steps and deadlines for all teams involved in the product launch. As a project sponsor, reviewing and approving the checklist and timeline is important to ensure that all teams are aligned and prepared for the launch.
20. Provide ongoing support and guidance throughout the product launch process. As a project sponsor, it’s important to provide ongoing support and guidance to the product development and marketing teams throughout the product launch process. This can help ensure that the product is successful and delivers value to the target market.

In conclusion, the product launch process is complex and requires careful planning, collaboration, and execution. 

As a project sponsor, it’s important to be involved in every step of the process to ensure that the product aligns with the company’s goals and delivers value to the target market. Following the checklist above, project sponsors can help ensure a successful product launch.