Business Fit Framework

The Business Fit Framework is a business intelligence tool offered by Strategy 2 Market, Inc. According to the vendor, it is designed to assist product development teams in analyzing and managing the risks, constraints, and uncertainties associated with new products. The tool is targeted at large to mid-cap companies and is commonly used by professionals in engineering, product management, R&D, industrial, and IT projects.

Key Features

Business Intelligence: According to the vendor, the Business Fit Framework provides insights and analysis to product development teams, helping them make informed decisions by identifying, evaluating, and prioritizing risks, constraints, and uncertainties associated with new product ideas.

Risk Identification and Evaluation: The Business Fit Framework enables product teams to identify, evaluate, and prioritize significant sources of uncertainty and risk associated with their product ideas. It is claimed to offer a comprehensive approach to risk identification, considering multiple dimensions and factors that may impact a product's development and market success.

Risk Mitigation and Tracking: The Business Fit Framework is said to help project teams reduce and track uncertainties and risks associated with their product ideas. It provides a platform to monitor the progress of risk reduction efforts, offering graphical visualization of risk reduction progress across multiple dimensions and over time.

Portfolio View: The Business Fit Framework allows teams to evaluate and compare multiple product ideas in terms of their associated risks and uncertainties. This perspective aims to assist teams in making informed decisions on resource allocation and project prioritization, enhancing project visibility and fostering cross-discipline buy-in.

Decision Support and Optimization: According to the vendor, the Business Fit Framework provides decision support by offering insights and analysis on the risks and uncertainties associated with product ideas. It is claimed to help teams optimize resources by identifying high-risk projects that may require additional attention and resources, enabling data-driven decision-making for choosing the right product ideas.

Data Visualization: The Business Fit Framework enhances decision-making through data visualization, providing a unified view of the product idea across different disciplines and departments. According to the vendor, it allows teams to have a comprehensive understanding of the risks and uncertainties associated with a product, facilitating cross-discipline collaboration.

Behavioral Economics Principles: The Business Fit Framework leverages behavioral economics principles to uncover uncertainties and track risk reduction progress from idea to launch. According to the vendor, this approach helps teams effectively manage and mitigate risks associated with new product development.

Unified Risk Platform: The Business Fit Framework offers a unified risk platform, fostering transparency and collaboration among teams in managing and mitigating risks. It allows teams to track the resolution of uncertainty over time, ensuring a comprehensive risk management approach throughout the product development process.

Resource Allocation: The Business Fit Framework helps teams make informed decisions on resource allocation by providing a portfolio view and evaluating risks and uncertainties associated with product ideas. According to the vendor, this optimization of resources enables efficient project execution and faster time to market.

Cross-Discipline Collaboration: The Business Fit Framework enables cross-discipline collaboration by providing a unified risk platform and data visualization. According to the vendor, it aligns stakeholders on the risks and uncertainties associated with each product idea, fostering collaboration and ensuring a comprehensive understanding of the product's risk profile.