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Budget cuts create extreme challenges for the CIO/CTO. The pressure is on to deliver more capabilities and enhancements with fewer resources, and cutting cost dominates your focus.
Lean instead focuses on eliminating waste by focusing on minimizing time-to-market.
The benefits to the business include the following:- Revenue/Return on Investment. The sooner customers can begin using a product, the sooner the business begins to receive a return on its investment – either in direct revenue or in the ability to use the product to satisfy business needs.
- Increased customer satisfaction. All things being equal, customers prefer to get features sooner rather than later so that they can begin to use them.
- Market Position. Releasing products sooner enables the business to maintain or increase its market position relative to the competition. The only way to stay ahead of the competition is to deliver valuable features sooner than they can. Products look fresher and more capable and end up satisfying customers more deeply. This creates both credibility and loyalty for the business in the eyes of the customer. In today’s world, competition often comes from smaller, more nimble (as in “agile”) companies. So releasing quickly is even more important.
- Lower Risk. Releasing quickly shortens the feedback loop with the customer, enabling you to discover mistakes in your project sooner. It gives you an opportunity to fix the product or abandon it sooner – resulting in a smaller loss than would be otherwise possible.
- Greater profit margins. Investment costs are mitigated by returns on products that have been released more quickly. Additionally, it is often possible to charge more for your products if you are considered a market leader.
If you are interested in learning how Net Objectives can help you achieve Enterprise Agility through our combination of an assessment, training and coaching, please contact us by clicking here.
For further information on how to address these issues, read The Business Case for Agility from our upcoming book Lean-Agile Software Development: Achieving Enterprise Agility. You can also find several articles and webcasts on this topic on our Lean Resources page. Note, you will have to register to get at some of this content.
