Lean Product Development: how to create business value

 

If you are thinking Agile then you are already thinking Lean. An Agile approach to project management creates an environment that encourages collaboration and ensures visibility while also enabling fast deliveries, team empowerment, and reactivity. Agile methodologies will help you build a Lean product but it is not there is more to it than that. Learning to think and build Lean is a long term strategy that focuses on the entire value chain of the project. A Lean approach will help you deliver value and achieve business growth once you learn how to implement it.

 

LEAN PRODUCT DEVELOPMENT

START THINKING LEAN

Shifting the focus from optimizing product life cycle to optimizing the value stream flow at all business levels is one of the major facets of thinking Lean. This approach helps create adaptable products with better market opportunities, irrespective of their nature (business, technology, or industry related). This large-scale evolution translates into:

  • An increased capacity to adjust to your market through the implementation of a feedback loop that allows for product discovery. Defining a set of metrics to aim for when improving your product helps you to better target your market.

  • Increased market traction and fast customer acquisition through design thinking and growth marketing

  • Access to key resources to boost your development through a comprehensive range of Services for Equity

  • A shortened time for the hypothesis testing cycle

  • Optimized time-to-market

  • Better quality products

  • Higher efficiency and productivity, with shorter cycle times

  • Important cost savings and increased ROI

THE CORE VALUES OF LEAN

Building a Lean product requires you to take a broad perspective on product development. In order to ensure convergence on business value it is important to understand the core values of Lean and act accordingly:

  • Create value by helping clients define what adds value from their perspective and then delivering high quality solutions while eliminating waste and reducing cycle times.

  • Deliver more with less and start taking action that allows high value deliveries at lower costs, in a consistent and continuous flow.

  • Deliver just enough and just in time which means creating only what adds value to your business at just the right time. It involves being aware of market trends and making sure that the product is launched quickly enough to get an edge over the competition and late enough to make an impact.

  • Empower people and build trust by encouraging self-organization, initiative and forward-thinking as well as involving the client in the development of their product.

  • Build a continuous improvement cycle by continuously investing in people and finding ways to improve your processes.

  • Measure everything by using simple and reliable KPI, which increases transparency and allows you to measure the effects of your actions.

Lean product development - the core values of Lean

LEAN PRODUCTION & IT OUTSOURCING

Lean best practices are compatible with IT Outsourcing as they provide a collaboration and communication framework at both the operational and business level. At Pentalog we support our clients throughout the entire value chain of their IT product, from discovery, design, and development, to launching the product on the market and supporting it from there. We give you access to our full-stack IT services platform that covers the entire scope of our clients’ digital needs.

 

If you are ready to disrupt the market then start using Lean development processes now and  accelerate your growth.

 

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