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Agile And Finance : Global Product Lifecycle

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Digital transformation has and is still shifting the world we live in. Products are now living entities which require a more modern and innovative way to create and support products in enterprises. This presentation shares some insight how Pearson, the worlds largest learning company is adopting Agile and Lean at an enterprise level, whilst ensuring the learner and customer is at the centre. Embedding principles from Agile, Lean, Lean Startup, Beyond Budgeting and more,all of which is captured and embraced into the Global Product Lifecycle.

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Agile And Finance : Global Product Lifecycle

  1. 1. Global Product Lifecycle Iterative Funding @LeanPLC @craigstrong
  2. 2. Budgeting & Forecasting
  3. 3. Uncertainty—in the economy, society, politics—has become so great as to render futile, if not counterproductive, the kind of planning most companies still practice: forecasting based on probabilities “ ”
  4. 4. Big Ideas & Big Bets X X
  5. 5. Self Perpetuating Risk Big Plans Big Budgets Big Systems High Risk Command & Control Behaviours Cost Of Change is High Constrains Innovation Increased Management Overhead
  6. 6. Traditional Governance Reduces the Capability to Innovate New Ideas Products Long time to marketBottleneck of ideas Strategic force field which limits ideas internally
  7. 7. The World Has Changed
  8. 8. Jeremy Hope, 2003. Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap. Edition. Harvard Business Review Press.
  9. 9. Investment Strategies High Probability Low Probability Low Impact Large Organisations High Impact Start Ups
  10. 10. Larry Downes is co-author, with Paul Nunes, of Big Bang Disruption: Strategy in the Age of Devastating Innovation Traditional Models Are Changing Big Bang Market Adoption Roger’s Market Segments
  11. 11. Projects vs Products
  12. 12. Global Product Lifecycle
  13. 13. Key Questions Can you identify a core user problem in a target market? Are there real customers who get value from your concept? Is there a viable business model for this product? Can you demonstrate Product/ Market Fit or validated business model? Expanding market reach, improving product performance and outcomes? Continuing to provide value, retain customers, deliver on outcomes? What residual value can be gleaned from the business? Idea Explore Validate Grow Sustain Retire
  14. 14. A Non-Linear Process Learn Build Measure
  15. 15. Reducing Risk Funding & Evidence Risk Time Idea Explore Validate Grow
  16. 16. PLC Governance Criteria ● Accessibility ● Security ● Quality ● Efficacy ● Product Management ● Operations ● Safeguarding ● Marketing & Brand ● Sales ● Legal ● Customer Experience ● Many More +
  17. 17. Quarterly Hypotheses Product Metrics £? Strategic Growth Hypotheses Legal
  18. 18. Before After
  19. 19. Iterative Funding http://blog.mercdev.com/mvp-when-less-is-more/ Not like this… Like this… ?
  20. 20. Product Lifecycle Principles More Ideas, More Bets, More Tests New Ideas Not all the ideas survive but all the learnings are recorded All the ideas are quickly captured and tested One to three months turnaround Walls are pervious allowing ideas into and out of the company Open Innovation
  21. 21. 5 Key Take Aways ● Agility is an organisational shift ● Bet small, don’t bet big upfront ● Certainty is a fallacy ● Diversity is key to innovation ● Environment is shifting rapidly
  22. 22. Thank You Feedback & Questions @leanplc @craigstrong

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