Do you want the market to use your products, as you intended, over your competitors?
New products (including in the form of software systems) are an important part of implementing change. However, the procurement or development of a product, or added features, does not provide value to a business or customers in-and-of-itself. Effective change is required for customers and the business to improve service and achieve benefits. No change, no benefit.
Adopting Agile product development to pursue quicker product delivery has made this principle all the more relevant. All product development needs to be in the context the desired change in customer service it will support.
Speed also needs context. Planning and executing a product or a project is akin to running a marathon – it requires competitive knowledge and adaption to the situation over the entire distance. There are many approaches to make progress, even running the whole distance in sprints. However, starting a marathon by sprinting with no idea of how long the race is, which direction to run in, who the competition is, or your own competitive strengths against such competition is a formula for waste.
When done well, programs will plan long to provide funding confidence, but deliver short via progressive, high-cadence releases of change and product.