Internal Targets Key to Meeting Product Launch Schedules: Gartner
Internal targets have a serious impact on the product launch schedules, says a Gartner report.
In its 2019 product manager survey, Gartner found that product managers making timely product launches are more likely to meet their internal targets within a year of launch.
For 45 percent of the delayed product launches, 20 percent ‘on an average’ fail to meet internal targets, the survey found.
“A product launch that meets all internal targets is seldom achieved. The survey showed that only 11% of organizations reported that all of their products met 100% of defined internal launch targets,” says Adrian Lee, senior research director at Gartner.
“Product managers who run late with product launches need to be keenly aware that this situation will directly increase the risk of increasing the failure rates,” Lee adds.
According to Gartner, key factors behind the delays in product launch typically include:
- Lack of formal launch processes
- Delays in product development (bugs, errors and features creep)
- Failure to meet customer requirements
- Product quality
- Supply Problems
Product Managers Hold Responsibility
Typically, product managers feel the responsibility of managing product launch and creating the relevant strategies.
“46 percent of product managers said they are responsible for managing the planning, development and introduction phases of a product, while 39% of survey respondents said creating a product strategy and planning and building product roadmaps were key responsibilities,” says Gartner.
However, the survey found that managers, who considered ‘improving internal collaboration’ as one of their top three roles, witnessed less failures.
“The survey showed that fewer than 20% of organizations see their product managers as driving innovation or improving collaboration within the company,” Gartner added.
Overall, managers, seeking to collaborate, will have to successfully communicate the product vision and roadmap to the involved stakeholders. This should begin early and happen on a continuous basis, followed by possible revisions.