Understanding the different stages a project plan has to undergo before its birth, the final product or service is essential to getting things right. One of the stages is the discovery stage. This stage is an essential part of planning products and services and can make a difference between a product everyone wants and a product no one needs. You can also read this blog post from agilie.com to learn more about the discovery phase.
This is the stage where you research the necessary areas of your project, ask the right people the right questions, get your findings, and adopt strategic approaches to implementing your results to achieve your business goals.
There are many reasons why this step is necessary for your project plan. This article explores the importance of the discovery phase to help you inculcate into your service or product development strategies.
Why the discovery phase is important
There are many reasons why the discovery phase is relevant to your project. They include:
1. Identification of project scope
Knowing the scope of a business drives accuracy in estimates. With accurate estimates and data, you are better able to manage resources and execute business plans. It will also help you make an informed decision in relation to designs and other essential aspects of the business. This also drives a higher percentage of returns on investment.
With the discovery phase successfully carried out, you are better equipped with the necessary information on the length and breadth of the project. You will know what to include in the business plan and execution and what to leave out because you are guided by the results of the research.
2. It gives you a better idea of the problems your project, product, or services will solve
Every project is geared towards solving a problem. Your product or service is meant to satisfy your target audience. The discovery phase will reveal the mind of your target audience, buyers, or users to you and help you build a product or design a service that will target their pain points.
3. It helps to put things in perspective
The result of the market research will help you take the right approach in the course of managing your project. For instance, it gives you a clearer picture of your target audience.
It will help you know what resources you need, what design adjustment to inculcate into your project, what suggestions to take, and so on. The success of any project is adopting methods that help your goals.
4. It helps you deliver value
The essence of any product or service is to satisfy needs. If your offer does not hold any value or benefits for your target market, they will not engage with it.
With the discovery phase thoroughly executed, the solutions you put forth will attend to your target audiences’ pain points because you already know what they want. You are also better equipped with the information you need to make your offers appealing to the market.
5. It helps in resource control
An essential aspect of any project is the judicious use of resources to achieve the set goals. The discovery phase will help you better allocate resources to different aspects of the project.
It will also help in quality control because you have ample information on what the market needs. The amount of resources a project consumes does not determine its acceptability and value level.
You might spend so much on a project that nobody wants. Whereas, you would have spent little money to satisfy your target market.
6. It enhances project success
If you are able to execute a project at the specified time, using the specified resources, you can say you have recorded success. With the discovery phase properly executed, you are better able to execute a project effectively.
Your moves are precise and your aims are pinpoint and accurate. Where there is a need for adjustment, you have done it. The project cannot help but succeed.
7. It enhances a team’s confidence
If the confidence of the stakeholders in a project is dwindling, the project might be in trouble. One thing the discovery phase helps you handle is your team’s trust in the project.
The result of the research will aid the appropriate execution of the project and with every line falling into place, the development team will be confident of achieving good success.
It grounds their faith that they can work within a budget, meet deadlines, achieve a vision, create a solution, meet expectations, and have a smooth development process that will result in life-changing and groundbreaking results.
8. It improves user experience
Your client will have a smooth experience using your product or service if it is beneficial to them. The discovery phase will help you to know the requirements of the people and a way to make your deliverables acceptable.
The end result of your project will be game-changing for your clients, offering them mind-blowing experiences and life-altering solutions.
9. It helps in project management
Every project manager likes to meet business goals and record successful projects. With the project discovery phase, this is most like the result. The documentation of findings and proper execution of critical steps will aid project success.
10. It helps you measure up to competitors
You will be able to make significant and paradigm-shifting contributions that will place you ahead of your competitors. The research you do will help you know what features, designs, tools, and other organizations are using and inculcate them into your offerings. It will also help you to be abreast of current critical processes and steps other companies are taking.
Many factors determine the success or failure of a project, whether people like your product or service or do not want to engage with it.
The discovery phase will help you avoid blunders and help you take all the right turns. It will help in the improvement of your project, build employees’ and team members’ confidence in the project, and help you measure up to competitors.
It will also help you clearly define the scope of your project, manage resources, and deliver value. This phase is also crucial to improving users’ experience.