Fifty-five percent of organizations say they are moving from project to product delivery.
Projects tend to happen in business-unit silos, compete with other company projects for resources and only contribute to isolated metrics. Product-centric business models offer quicker business outcomes, improved customer experiences, reduced friction within the organization and more flexibility. All of that results in increased trust across the business as the organization works toward the same goals.
Plus, a product-centric setup allows for better engagement between IT and business units.
The changeover requires work — some technical, like DevOps and system improvements, and some cultural, like colocating IT members into business units to start the conversation. However, top performers favor “hard” strategies when it comes to business model transformation. This includes resource optimization and innovation. If your enterprise isn’t as far along in the process, focus on gaining support from executives and forming the relationships that will eventually allow for the change.