Methods of Accelerating Innovation and Product Development
pgermeraad
Methods of Accelerating Innovation and Product Development Matrix
Some general methods for improving Speed-to-Market are shown in the Methods of Accelerating Innovation and Product Development Matrix
Simplify – Clarify objectives and remove distractions from both the process and the product.
Eliminate Delays – Many sources of delay can be anticipated through review of learnings from similar projects; by careful planning to identify critical tasks which if delayed will impact the entire project timeline; or, by use of early start scheduling.
Eliminate Steps – After careful consideration, the project team may eliminate activities without significantly increasing risk of failure or other adverse outcomes.
Speed-up – This may be achieved in a number of ways. Examples include adding additional resource; outsourcing or open innovation; or adopting new techniques that increase productivity (high throughput experimentation, for example) or reduce the scope of work required (simulation or additive manufacturing, for example).
Parallel Processing – Identifying activities that can be run in parallel, rather than in series, without creating significant risk or uncertainty is a straightforward way to reduce time to market.
Project teams who are looking to improve speed to market should consider a regular review of their project plan to identify opportunities to make use of these generic methods.
