Question

proposed alternative models--such as those based on Lean and Agile methods--as a more lightweight and adaptive form of new venture planning. The arguments for these approaches are very much akin to those that compare / contrast waterfall vs. agile software development.

What do you all think about this argument?

Answer 1

The proposed alternative model of Agile is rather I feel the most favorable one for a new venture planning. Even in general, with regards to the methodology like Lean or Agile, it could help in identifying the issues pertaining to the Business requirements in a quicker way by exploring various options. It is especially true in case of a new venture.

An Agile method enables the new venture to adapt itself in the times of changes, whether planned or sudden. It is to be noted that over a period of time, the requirements of the Organizations have changed and so did the priorities. Also with the rapid changes in the technology and the nature and attributes of the Human resource changing as well, the Traditional organizations found it difficult to cope with such changes. Therefore an Agile method is needed is to handle such changes or the scope in the new venture which the Traditional organizations failed to respond successfully to. Agile methods can further aid to evaluate the impact and costs pertaining to the scope of Business opportunities whenever it has to happen. The method when applied to a new venture that has a modern outlook in terms of its activities, just not undertakes a detailed planning exercises but also attempts to mitigate the risks to accommodate itself to it with more assertion than in case of a Traditional organizations. Further, with the tremendous levels of competition existing in the industry, even a successful project may not guarantee a business success. Here is where an Organization needs to an agile method. Especially, in the areas of uncertainty, such ventures that are agile in nature, could play an important role to accommodate to the reality in more practical way that ensures the survival of the business. An agile venture interacts with the individuals in more constructive way with working software to serve as a more efficient documentation and by also undertaking the activity of collaborating with the customers. This ensures the adaptability to the industry.

Apart from adapting to the changes or development in an industry by the new venture, an agile method is the answer to empowering the team members, coordinating with the business activities that ensures value and priority while developing a team and further needed when the Organization needs to ensure that the accountability is shared or when the Organization needs to focus more upon its technical excellence or establish more transparency in its processes. In all such cases, there is a need to have an agile method.