Long established companies are now trying to emulate certain capabilities where startups tend to succeed, such as quick decision-making and proactive capture of market opportunities. That is why they are trying to build in agile business innovation within their systems. Some business executives in particular are raising hell to implement this method. Across software development projects, agile methods have raised average success rates by more than three times. This further rises to six times when one takes only complex projects in to consideration. Marketing research undertaken by Standish has confirmed that agile methods reduce project risk by a staggering 76%. The time to market rises by 77% while team morale jumps up 79%. Even better is the impact on team productivity and the ability to navigate past evolving priorities. There exist four core values within agile, beginning with individuals and interactions being afforded greater importance over processes or tools. Prototypes are experimented with less copious documentation. Customers are seen as partners in the process, allowing for quick changes in the plans. Business owners, customers, and the leadership team all make up agile. The process begins with the planning, followed by sprints, before a final review. One must start small and expand as iterations work.

Source:http://www.bain.com/publications/articles/an-executives-guide-to-agile-innovation-infographic.aspx

Uploaded Date:16 August 2018