Opus Plus Survey Shows New Hope for Hi-Tech Product Development Despite Economic Downturn

McLean, Virginia, September 27, 2002:

Opus Plus, Incorporated has released the results of a survey of attitudes and motivations of product development leaders. The goal of the survey was to more deeply understand the challenges and rewards of the product development process in today's business environment. Participants included executives and product development professionals of technology companies spanning software, hardware, telecom and biotech industries.

Over 50% of the respondents reported that lack of an established, efficient product development process was the biggest problem they face. Participants also noted that executives are highly motivated to develop new products by the promise of increased revenue and profits, and are most likely to pull the plug when excessive cost and schedule overruns occur.

The good news is that the problems identified can be corrected through education and discipline allowing technology product companies to increase profits and reduce risk. Respondents believed that more informed decisions and improved process controls would lead to greater revenues and better targeted products within budget and time constraints.

Cynthia Gilmer, President of Opus Plus said, "Over 70% of the reported reasons for product development failures were due to internal issues and not related to the economic downturn. In fact, these data indicate that improved product development process and controls can directly lead to increased revenue streams and profits, even in hard times."

Opus Plus Cofounder and Vice President, Chip Beach added, "It came as no surprise that respondents reported a need for efficient product development in our current economic climate. What was surprising was the consistency of the answers expressing a need for better product development process."

Opus Plus, Incorporated is a full service product development firm providing consulting services in all phases of technology product development. Founders each have over 20 years of experience in all aspects of developing software, hardware and data communications products.

To obtain a copy of the survey, please contact Opus Plus at 703-797-0183 or send email to info@opus-plus.com.