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Given the poor odds of success with new product and services introductions, it is important to find ways to minimize the risks of new services development. ITSMA believes that a well-designed
services development process helps weed out the less worthy services product ideas and strengthen the ones with greater potential.
Key Takeaways
- A formal process can reduce time, cost, and risk in developing new services
- The process must be flexible to allow for the added complexity of services development
- Reserve the right to develop new services outside of the process if they represent a dramatic departure from current ways of doing business
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