This document discusses smarter quality management approaches that can provide competitive advantages. It describes the complex nature of software development and increased competition facing organizations. Quality management is important but must balance factors like time to market, costs, and risks. The document introduces an iterative development approach that integrates testing earlier to find defects sooner. It explains that the optimal release time minimizes total risk from quality issues and competition when benefits of further improvements are outweighed. The timing depends on variables like a product's market and defect criticality.