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New Study Establishes Industry's First Index for Successful Software Product DevelopmentFAIRFAX, Va., March 10, 2015 /PRNewswire/ -- 3Pillar Global, a leading developer of innovative, revenue-generating software products, and the Center for Excellence in Service at the University of Maryland's Robert H. Smith School of Business have created the industry's first Product Development Success Index (PDSI). The PDSI establishes six vital factors that impact a company's readiness to successfully develop new software products. Based on the study, culture, including the ability to attract and retain top talent and provide career growth and appropriate recognition, was identified as the most critical factor for success. The study surveyed more than 200 professionals responsible for software product development within their companies. The respondents represented numerous industries, including Business Services, Education, Financial Services, Healthcare, Health and Wellness, Hospitality, Information Services, Media and Entertainment, Technology, and Telecommunications. All respondents have decision-making responsibilities for new software product development projects and work for companies with at least $1 million in annual revenue. "With nearly a decade of experience in software product development strategy and execution, we know what drives a successful project and we sought out the concrete data to back up our approach. Enter the Product Development Success Index," said David DeWolf, President and CEO of 3Pillar Global. "This study has confirmed a lot of what we know, but more importantly revealed how essential the 'softer' components – such as culture, communication and feedback – are to successful product development." The PDSI provides a diagnostic checklist for maximiing success in software product development and answers the question: what drives success? The study found that the following top priorities are critical to product development success:
For more information on the PDSI, to get your company's own development readiness score, or to read a full executive summary of the research, please visit www.pdsinsights.com. Additionally, to learn more, register for the webinar "6 Keys to Developing Successful Software Products," which will be held on Friday, March 13: http://go.3pillarglobal.com/product-development-success/webinar. About 3Pillar Global Media Contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-study-establishes-industrys-first-index-for-successful-software-product-development-300048002.html SOURCE 3Pillar Global |