Challenges organizations face in product development
Product development today is enabled by a marriage of technology and society. Every product is a combination of hardware and software that is further enhanced by a connection to the internet. New product enhancements are only a software release away. We truly live in the age of software and digital.
It is against this backdrop that we look at challenges in product development and find that not only have these challenges not changed but the challenges also grow even more daunting thanks to the reliance on technology and software. Some of these classic challenges are presented here:
- TTM pressures
- Understanding customer wants
- Security and compliance
- Ensuring quality
- Competition
These challenges don’t appear in isolation. Sometimes several challenges appear, or they appear all at once. Let’s examine how these challenges, alone or together, impede product development.
