Effective and timely decision-making by both the leadership of the business and the product development project team is essential for managing time-to-market and product development speed.
The decision-making process must include both the leadership of the business and the product development project team.
Leadership Team Decision-Making
The leadership team makes decisions for the business at review points so that the team can continue their work without delay.
The leadership and whole project team meet to maximize communication and information sharing with the aim of having no delays at review points.
There are only three types of decisions at review points:
GO: The team may propose changes to the project plan. There is agreement on timing, deliverables and resources. The resources needed are provided for the team.
STOP: The team is disbanded and assigned to other, higher priority projects.
RETURN: Re-convene in a defined short time, e.g. 1 or 2 weeks, because something is missing or needs work to clarify.
Product Development Project Team Decision-Making
The product development project team makes decisions about project-related matters; that is they have operational autonomy within clear strategic goals for the business.
This empowerment of the team has a significant effect on product development speed.
High autonomy for project teams is particularly important for high novelty, exploratory innovation.
