Average Time to Market of New Products or Services

Average Time to Market of New Products or Services

Average time-to-market of new products or services is innovation KPI that shows the average time from the moment a product is envisioned or defined until it is available for sale.

Time to market of new products and services can be calculated by the following formula:

Time to Market = Market Time Defined Time

Defined Time is the time when the product concept was worked out and approved.

Market Time is the time when the product or service is available for sale on market. In some cases market time can be equal to reaching a certain production volume.

Most of the companies tend to improve this KPI for a variety of reasons. For example: to make the product available on the store shelves as soon as possible and minimize resources especially labor.

If you need to track time-to-market of new products or services, please follow the steps below:

•  Create custom field "Defined Time ”:
  • Go to: Tools/Custom fields and press "Ins” button
  • In "Title” field enter "Defined Time”
  • In "Code” field enter "cf_ defined_time”
  • In "Type” field select "Date” and click "Ok” button



• Create custom field "Market Time”:
  • Go to: Tools/Custom fields and press "Ins” button
  • In "Title” field enter "Market Time”
  • In "Code” field enter "cf_market_time”
  • In "Type” field select "Date” and click "Ok” button



• Create custom field "Time to Market”:
  • Go to: Tools/Custom fields and press "Ins” button
  • In "Title” field enter "Time to Market”
  • In "Code” field enter "time_to_market”
  • In "Type” field select "Duration”
  • In "Formula” field enter the following formula and click "Ok” button:

$cf_market_time - $cf_defined_time



• If you need to view the average time to market per particular project, filter your to-do list by task group with project tasks.



• Set footer to display the average time to market of products or services:
  • right click under column "Time to Market”
  • select "Average”



If you need to view the average time to market of products or services on Task Tree, please follow the steps below:

• On Task Tree select root task group and select "Custom fields options”



• To enable the displaying of the average time to market of products or services select custom field "Time to Market”,  do the following:
  •  select Enable
  • check "Aggregated” (for task group)
  • select "Average” and the custom field name "Time to Market”



• Select task group for which you need to view the average Market Time, right click and select "Custom fields options”



• Select custom field "Market Time” and select the option "Enable by parent”.





 Average Time to Market for products and services on Task Tree