Processes are a Powerful Competitive Advantage.
Managing innovation requires a process. A process is a systematic method for unifying and organizing, but — and this is what separates it from traditional planning — it also provides structuredfeedback. Feedback is what enables continuous improvement, the hallmark of any effective process.It shouldn’t surprise anyone that processes, all by themselves, can be powerful competitive advantages. Carnegie-Mellon University, through its Capability Maturity Model Integration program, found that productivity and return on investment improve significantly just by improving development skills.
Processes are the mechanisms that allow teams to react more quickly to unanticipated events, help reduce and eliminate mistakes, and accelerate the start and completion of new projects.
Some investors say processes just add more bureaucracy and slow things down. Maybe that argument could hold up, with lots of luck, if you’re planning to build only one product. But if you’re looking for repeatable, predictable success, a superior process is absolutely mandatory.