I am excited to share that the results from 6th Product Portfolio Management global survey are in! Conducted by Tech-Clarity® and sponsored by Planview, we asked people involved in the product development process to share their experiences in managing their product portfolios and developing and bringing new products to market. Not only did almost 500 people participate in the survey, but the responses were very encouraging separating the top performers from the rest of the pack.
Watch the short video featuring Carrie Nauyalis, Executive in Residence at Planview discuss the research history as well as of what the survey is about.
Five Best Practices of Top Performers
The best practices of top performers appear to be a product development wish list and include:
- Access to timely, reliable data
- Well defined, structured processes
- Mature portfolio processes
- Better portfolio and capacity planning
- Use product portfolio management technology
I have spent most of my career managing product portfolios and can absolutely relate to these best practices. Looking back, I can pinpoint projects where two or more of these capabilities would have been extremely valuable, preventing the team from missing deadlines.
Companies can leverage these best practices as a roadmap to overcome challenges and achieve higher levels of innovation and profitability – especially if a company is undergoing Digital Transformation.
Use of Product Portfolio Management
Interestingly, the findings indicate that top performers are 30% more likely to use PPM software solution. Yet with the increasing pace of technology and innovation, it’s ironic that so many product development teams are trying to digitally transform and yet are still using spreadsheets. It begs the question…do they understand they are at risk?
Opportunity for Improvement and Growth
The goal of launching innovative products in a competitive market isn’t broken but there is definitely an opportunity to fix the processes that lead the way. We compared the results from previous studies and found that processes are improving – people are listening. In 2010, 68% of respondents said one of their primary pain points is there are too many projects for their product development teams. In our most recent study, that rate was reduced by 24%.
To learn more about the results of the survey and to see how you compare, join us on Thursday, June 21, 2018, at 10:30am CDT to hear Carrie Nauyalis, Planview’s Innovation Executive in Residence, spill the surprising secrets to delivering smarter, more connected products. Register at planview.info/BenchmarkWebcast.