Driven by the Agile Manifesto of software development, agile product management fosters close collaboration between cross-functional design and development teams, quicker review and response cycles, consistent customer feedback, better visibility for informed decision-making, and enhanced product innovations. With agile product management teams work in parallel and are aligned on all development activities vs. the traditional waterfall method where teams work separately in an unorganized process creating silos of information that result in delays, rework, and reduced product quality.
Adopting the agile methodology is good for product development because it is an iterative process that allows internal teams and external supply chain partners to collaborate, consistently incorporate customer feedback, and address issues early in the product design. Agile enables organizations to react and adapt quickly to external disruptions and more easily overcome new product development roadblocks.
Three core agile practices include:
Agile redefines how product managers approach product planning and development. In comparison to traditional planning and development, an agile framework offers a more flexible environment. Since products are developed in a collaborative way, using small steps early in the design, companies can speed cycles, save costs, and meet customer needs.
Delivering new products to market is challenging. And it is difficult to see the cost impact of one or more mistakes.
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