Project Acceleration/Speed to Market Strategies

Why: As the demands for healthcare change, the definition and understanding of “Speed to Market” requires the acceleration of any project delivery method. In addition, project delivery methods also are changing, which is providing additional opportunities. The past metric of, “How quickly can a project be designed and constructed?” is now, “How quickly can healthcare and services be provided?”
The definition of “Speed to Market” can be significantly different from one owner to another, and even redefined depending on whether the person is a design professional or builder. This lack of consistent definition has made it difficult to develop industry metrics, align expectations or create a common understanding. It is critical to establish expectations among the entire internal and external team for each owner and project.

What: The process and time required for the development of a strategic and business plan and its tactical response prior to the identification of project requirements requires significant time and includes a vast range of professionals, each with their own terminology and frame of perspective. Although it is unlikely that a universal definition of “Speed to Market” will be developed and consistently applied, it is imperative that a definition of “Speed to Market” (which includes the required acceleration actions) be developed and understood within the owner’s organization or, in the case where the plan entails a project, the definition must be inclusive of the design and construction team for a specific project definition.

How Although the design and construction industry is the primary entity for delivering healthcare projects and facilities, it is the owner who has the majority of control over the "Speed to Market" decisions and actions, which effect outcomes. This white paper explores the responsibilities of each significant player, identifies where better outcomes might be seen and establishes the best practices that are the catalyst for creating industry standards. Owners of healthcare organizations and healthcare systems who pursue a new project will set the standards for acceptable strategy and business decisions, balance the risk, pursue innovations and determine what might evolve in the future as new standard practices.