Accelerated Project Management: How to Be First to Market

The speed of introducing new digital products to the market is no doubt the single most important factor to determine the success or failure of a company. No matter how good the products are, if they were introduced to the market later then their competitors, they won’t be able to demand the premium price it desired, and in many cases, it is one of the most common factors that cause the downfall of the product. Therefore, first to the market and frequent introduction of new models will obviously lead to the domination of a particular product family in a digital world. The first to market is the goal of most companies, digital or not, when introducing new products. To introduce a product faster than the competitors, many companies have applied the Project Management approach. Project management has become a standard way of working when innovation and new product development are the primary activities. However, not many companies are consistently producing good results. Many companies may win the race for one or two products but soon become left behind. A company must focus on creating the climate for total project management –focus on developing a business processes that will foster the success of project management. Accelerated Project Management starts with the vision of the company, and then turns the vision into an actionable product roadmap, the new product introduction process, and its supporting processes, platform and building blocks development processes. It also examines the processes needed to cooperate with key partners and suppliers on product development.