FYAM: An Introduction to Time to Market (T2M) in EBM
Introduction to Time to Market
In this section, Todd Miller and a professional Kanban trainer introduce the new series on evidence-based management. They discuss the success of their previous series and dive deeper into the KPI of time to market.
Definition of Time to Market
- Time to Market is defined as an organization's ability to quickly deliver new capabilities, services or products.
- It is the means by which you see how reliable everything else in your dashboard is.
- It measures how fast an organization can learn and react to what they learned.
Challenges with Measuring Time to Market
- Organizations should not lie to themselves about their time to market. Just because something is finished does not mean it's shipped or done.
- Getting insight into time to market can be tricky due to the way we are accustomed to measuring things.
- People are getting time-to-market measurements wrong, even though it seems easy.
Metrics for Measuring Time To Market
- Aging cycle time
- Work in progress (WIP)
- Throughput
- Release frequency
- Time-to-Learn
Release Frequency and Time to Market
The importance of getting products to customers quickly and the potential problems with over-focusing on time to market.
Getting Products to Customers
- Importance of release frequency in getting products to customers.
- Emphasis on time to market from the customer's perspective, not internal teams or departments.
- Customer feedback is crucial in determining if a product has been delivered in a timely manner.
Over-Focusing on Time to Market
- Over-focusing on time to market can make other key performance indicators irrelevant.
- Undering and overfocusing can cause problems with behavior and customer satisfaction.
- Delivering frequently does not necessarily mean that customers are happy or that new customers are being acquired.
Cautionary Tale for Time to Market
- The cautionary tale of over-focusing on time to market will be discussed further in future videos.
- Future videos will cover topics such as measuring and managing aging products, identifying signals for intervention, and more.
Introduction
In this section, the speakers introduce themselves and the topic of discussion. They also request feedback from viewers on the direction of their new series.
- The speakers give a warning at the start of the video.
- They introduce themselves and express excitement about the new series.
- Viewers are asked to leave comments with feedback on the direction of the series.
Conclusion
This section concludes the video.
- The speakers say goodbye to viewers.