Time-to-market in days for new product/service development projects

This measure calculates the number of calendar days required to design, test market, and manufacture/deliver new product/service development projects. The cycle time begins with the "design and develop product/service" process (when resources are first assigned) and ends when the product/service is ready for sale. This measure is part of a set of Cycle Time measures that help companies analyze the duration of the process "develop and manage products and services" from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure Id:
103476
Total Sample Size:
1,352 All Companies
Performers:
25th
Median
75th
Key Performance
Indicator:
Yes

Compute this Measure

Units for this measure are days.

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Average time-to-market in days from the start of the design and develop products/services process until the new product/service development project ready for sale

Key Terms

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Cycle Time

Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.

Median

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (7.3.0)

  • 2.1 - Govern and manage product/service development program (19696)
    • 2.1.1 - Manage product and service portfolio (10061)
      • 2.1.1.1 - Evaluate performance of existing products/services against market opportunities (10063)
      • 2.1.1.2 - Confirm alignment of product/service concepts with business strategy (10066)
      • 2.1.1.3 - Prioritize and select new product/service concepts (10074)
      • 2.1.1.4 - Plan and develop cost and quality targets (10073)
      • 2.1.1.5 - Specify development timing targets (10075)
      • 2.1.1.6 - Plan for product/service offering modifications (10076)
    • 2.1.2 - Manage product and service life cycle (10067)
      • 2.1.2.1 - Develop plan for new product/service development and introduction/launch (16824)
      • 2.1.2.2 - Introduce new products/services (10077)
      • 2.1.2.3 - Retire outdated products/services (10078)
      • 2.1.2.4 - Identify and refine performance indicators (10079)
      • 2.1.2.5 - Conduct post launch review (11423)
        • 2.1.2.5.1 - Carry out post launch analytics to test the acceptability in the market (19646)
        • 2.1.2.5.2 - Review market performance (11424)
        • 2.1.2.5.3 - Review effectiveness of supply chain and distribution network (11425)
        • 2.1.2.5.4 - Apply data and analytics to review supply chain methodologies (19647)
        • 2.1.2.5.5 - Review quality and performance of the product/service (11426)
        • 2.1.2.5.6 - Conduct financial review (11427)
        • 2.1.2.5.7 - Conduct new product development process assessment (11428)
    • 2.1.3 - Manage patents, copyrights, and regulatory requirements (19985)
      • 2.1.3.1 - Conduct mandatory and elective reviews (19941)
      • 2.1.3.2 - Review infringement of patents and copyrights (16826)
      • 2.1.3.3 - Determine patent and copyright needs (16827)
      • 2.1.3.4 - Define product technical documentation management requirements (19697)
      • 2.1.3.5 - Manage regulatory requirements (12771)
        • 2.1.3.5.1 - Train employees on appropriate regulatory requirements (12772)
        • 2.1.3.5.2 - Maintain records for regulatory agencies (12773)
        • 2.1.3.5.3 - Manage regulatory submission life cycle (12776)
    • 2.1.4 - Manage product and service master data (11740)
      • 2.1.4.1 - Manage materials master lists (11741)
      • 2.1.4.2 - Manage bills of material (11742)
      • 2.1.4.3 - Manage routings (11743)
      • 2.1.4.4 - Manage specifications (11744)
      • 2.1.4.5 - Manage drawings (11745)
      • 2.1.4.6 - Manage product/material classification (11746)
      • 2.1.4.7 - Develop and maintain quality/inspection documents (11747)
      • 2.1.4.8 - Maintain process specification data (11748)
      • 2.1.4.9 - Manage traceability data (11749)
      • 2.1.4.10 - Review and approve data access requests (11750)
  • 2.2 - Generate and define new product/service ideas (19698)
    • 2.2.1 - Perform discovery research (10065)
      • 2.2.1.1 - Identify new technologies (10070)
      • 2.2.1.2 - Develop new technologies (10071)
      • 2.2.1.3 - Assess feasibility of integrating new leading technologies into product/service concepts (10072)
    • 2.2.2 - Generate new product/service concepts (19669)
      • 2.2.2.1 - Gather new product/service ideas and requirements (19986)
      • 2.2.2.2 - Analyze new product/service ideas and requirements (19987)
      • 2.2.2.3 - Evaluate new product/service inputs and requirements (19988)
      • 2.2.2.4 - Formulate new product/service concepts (19989)
      • 2.2.2.5 - Identify potential improvements to existing products and services (10068)
    • 2.2.3 - Define product/service development requirements (19990)
      • 2.2.3.1 - Define product/service requirements (11331)
        • 2.2.3.1.1 - Define basic functional requirements (19991)
        • 2.2.3.1.2 - Derive interoperability requirements for products and services (16808)
        • 2.2.3.1.3 - Derive safety requirements for products and services (16809)
        • 2.2.3.1.4 - Derive security requirements for products and services (16810)
        • 2.2.3.1.5 - Derive regulatory compliance requirements (16811)
        • 2.2.3.1.6 - Derive requirements from industry standards (16812)
        • 2.2.3.1.7 - Develop user experience requirements (19992)
        • 2.2.3.1.8 - Derive ‘services-as-a-product’ offering (16814)
      • 2.2.3.2 - Define post launch support model (16815)
      • 2.2.3.3 - Identify product/service bundling opportunities (17389)
  • 2.3 - Develop products and services (10062)
    • 2.3.1 - Design and prototype products and services (19993)
      • 2.3.1.1 - Assign resources to product/service project (10083)
        • 2.3.1.1.1 - Identify requirements for product/service design/development partners (19994)
      • 2.3.1.2 - Prepare high-level business case and technical assessment (10084)
      • 2.3.1.3 - Develop product/service design specifications (10085)
      • 2.3.1.4 - Develop user experience design specifications (16813)
      • 2.3.1.5 - Provide warranty-related recommendations (16817)
      • 2.3.1.6 - Document design specifications (10086)
      • 2.3.1.7 - Conduct mandatory and elective external reviews (10087)
      • 2.3.1.8 - Design products/services (19995)
        • 2.3.1.8.1 - Design for manufacturing (16819)
        • 2.3.1.8.2 - Design for product servicing (16820)
        • 2.3.1.8.3 - Design for re-manufacturing (16821)
        • 2.3.1.8.4 - Review product troubleshooting methodology (16822)
        • 2.3.1.8.5 - Design and manage product data, design, and bill of materials (16818)
        • 2.3.1.8.6 - Design for product upgrades (16823)
      • 2.3.1.9 - Build prototypes/proof of concepts (10088)
      • 2.3.1.10 - Develop and test prototype production and/or service delivery process (10098)
      • 2.3.1.11 - Eliminate quality and reliability problems (10089)
      • 2.3.1.12 - Conduct in-house product/service testing and evaluate feasibility (10090)
      • 2.3.1.13 - Identify design/development performance indicators (10091)
      • 2.3.1.14 - Collaborate on design with suppliers and external partners (10092)
    • 2.3.2 - Test market for new or revised products and services (19996)
      • 2.3.2.1 - Prepare detailed market study (10093)
      • 2.3.2.2 - Conduct customer tests and interviews (10094)
      • 2.3.2.3 - Finalize product/service characteristics and business cases (10095)
      • 2.3.2.4 - Finalize technical requirements (10096)
    • 2.3.3 - Prepare for production/service delivery (19997)
      • 2.3.3.1 - Design and obtain necessary capabilities/materials and equipment (10099)
      • 2.3.3.2 - Identify requirements for changes to manufacturing/delivery processes (10097)
      • 2.3.3.3 - Request engineering/process change (11418)
      • 2.3.3.4 - Install and validate production/service delivery process (10100)
        • 2.3.3.4.1 - Monitor initial production runs (11417)
      • 2.3.3.5 - Validate launch procedures (19998)