Also, build several prototypes of every important part of the product in order to learn how long they will take to be made and how each variant will perform, so when you make estimations they are as effective as possible; and then, make integration tests on the selected variants so you can reduce estimation risks due to integration. Just as in every other engineering discipline.
I understand that the lossless part is only the compression from the original digital file: what you play is bit by bit what the publisher uploaded. Just like BMP vs JPEG. Not about maintaining the analog resolution.