Rapid Product Development Rapid Product Development | Page 2

DESIGN

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| New Product Introduction

sidered before bringing an idea to life.
As technology evolves, so does the
ability to regulate previously unavoidable delays, like ineffective software,
the inability to connect individuals in
different geographical locations, and
hand-built prototypes. With these enhanced strategies, companies have
been able to focus
Success is ac- more attention on
tually a short creating a plan that
race--a sprint
provides
a
fi
nanfueled by disapline just long cial benefit. A faster,
more efficient plan
enough for
habit to kick in costs less and moves
and take over. faster, reducing proj-Gary Keller
ect expenses and
creating a stronger
possibility for a profitable product scenario.
→ Rapid product development is an
idea centered on decreasing the time it
takes to bring a product from conception to the market. Over the last sever-

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al decades, the right approach has reduced development times substantially,
with an average improvement of nearly
a year in most industries. As this trend
continues, more and more companies
are working to promote further reductions in time to market without increasing production expenses or eliminating
features that are required for a product’s base purpose.
→ The various approaches to rapid
product development intend to meet
certain goals, including maximizing
return on research and development
spending, maintaining competitive position, and strengthening the link between products and business targets.
By creating a positive correlation between project cost and product potential, executives and teams can go into
both planning and strategy implementation with a strong economic framework.

Agile Metholodology