Projects are late one day at a time. So, ask yourself, do you and your team know the number one priority for today? Why does speed matter? Because every day you are late to market, it can cost you millions. Here are 7 principles, if adopted, that can speed up your projects and create motivated, more satisfied product development teams -- that get to market faster.
We've written extensively on the cost of delay. We also show you how to calculate it in this eBook.
Once you understand the cost of delaying your product launch, as well as the drag a broken product development approach can have on your team, you'll want to look deeper into Lean.
So, here are seven Lean principles integrated into PLAYBOOK that are proven to get you to market faster. We've added links to our Lean Leadership Training Series, where you can dive deeper into each principle with an on-demand webinar.
Why it matters: Pull systems maximize work throughput (output) and empower teams.
Implementation: Team members pull tasks from their backlog which are automatically prioritized.
Benefit: Multi-tasking is avoided. Happy teams, work at maximum productivity levels.
2. Visual project management means teams do the right work, at the right time, across the company
Why it matters: Slips on the critical path cause a 1:1 slip to the project completion date.
Implementation: Activities are prioritized across the company and tasks are ranked by criticality.
Benefit: Team members work on the top priorities to moving the project forward at maximum velocity.
3. Effective management of resource availability and utilization across projects
Why it matters: Work slows exponentially when team members are booked over 70%.
Implementation: Limit planned loading so team members are booked 70%, not 100%.
Benefit: Throughput is stabilized because team members have the flexibility to respond to changes. Schedules are much more accurate and projects are completed faster.
Why it matters: Queues are a leading indicator of bottlenecks in your product development system. The ability to identify queues and manage them effectively speeds up the system.
Implementation: Make work visible so you can see the work and identify issues and risks, daily.
Benefit: Get your products to market faster.
Why it matters: Product development is all about learning. Slow feedback causes slow projects.
Implementation: Hold frequent, short, stand-up meetings instead of long, infrequent status meetings.
Benefit: Quickly uncover blockages and communicate issues, risks and status changes.
Why it matters: Uncertainties make long-term planning inaccurate.
Implementation: Teams plan long-term at a high-level and short-term detailed plans 4 to 8 weeks out.
Benefit: Strong team buy-in to the schedule. Short-term plans are detailed enough to be optimized. Delays are immediately exposed.
Why it matters: Teams tend to under-promise (buffer) how long tasks will take, resulting in longer schedules.
Implementation: Create shared project buffers.
Benefit: Shared buffers promote teamwork to complete tasks on time and reduce schedule padding.
We also have some amazing customer testimonials and case studies to share.