Value-driven product development

Product vision statements are concise, evolving, inspirational descriptions of a product's long-term goals and future state. This guide will explain how to develop your product vision statement and what to look for in a good one.

Survivorship bias or survival bias is the logical error of concentrating on entities that passed a selection process while overlooking those that did not. This can lead to incorrect conclusions because of incomplete data.

Innovation comes from the producer, not the customer. —W. Edwards Deming, Paraphrased from Out of the Crisis [1] Portfolio Backlog Details Lean Portfolio Management (LPM) is responsible for developing, maintaining, and prioritizing the Portfolio backlog. They actively collaborate with stakeholders, including Business Owners (many of whom are part of LPM), Product and Solution Management, Epic Owners, Enterprise Architects, and others, to discover the epics needed to advance the portfolio’s solutions. Portfolio Epics are large (and typically cross-cutting initiatives) managed through theRead more

Kanban is an inventory control system used in just-in-time (JIT) manufacturing to track production and order new shipments of parts and materials.

Does your Finance Department discourage Agile software development because it would all be charged to operational expense?

A really simple approach to CapEx & OpEx financial accounting with Scrum. Why is this needed? The apparent mismatch between standard financial accounting practices and agile ways of working. Specifically CapEx and OpEx accounting, which is often a very important practice in (larger) organizations. This distinction seems to be at odds with having a more …

4 of the most common Product Discovery mistakes that I see teams make and actionable steps to avoid them and level up your Product Discovery game!

In this article we explore how to sidestep the top six product discovery mistakes to be well on your way to building products that delight your users.

Learn the tips, tickets and tools that help product managers thrive in a remote environment.

Agile software development and traditional cost accounting don’t match. —Rami Sirkia and Maarit Laanti [1] Lean Budgets When implementing Scaled Agile, many organizations quickly realize that the drive for Business Agility through Lean-Agile development conflicts with traditional budgeting and project cost accounting methods. As a result, moving to Lean-Agile development—and realizing the potential business benefits—is compromised, or worse, blocked entirely. To address this problem, SAFe introduces Lean Budgets as its approach to financial governance. Details Each SAFe portfolio operates withinRead more

We are all familiar with guardrails on highways. They are put there to keep a simple mishap from turning into a full-blown catastrophe. If you go a little off course, the rails help you regain the path towards your destination. —Anonymous Lean Budget Guardrails SAFe provides Lean budgeting strategies that eliminate traditional project-based funding and cost accounting overhead. In this model, LPM maintains appropriate levels of oversight through allocating value stream budgets and applying Lean budget guardrails. This way, enterprisesRead more

A minimum viable product (MVP) is a product with a small set of features that delivers customer value. Read this article to learn more.

Agile portfolio management helps large teams and developers efficiently manage projects. Read here to learn about high-functioning agile portfolios.

Product Vision is a great tool for product people to provide 'Why' behind the product. But what characteristics you would like to add into the Product Vision, lets explore in this article.

A product vision is a concise and motivating statement that clearly outlines the future direction of your product. In this article, we have explored several key characteristics that define an effective Product Vision.

What is a DEEP Backlog? Learn more about what DEEP backlog means and other agile terminology in our agile product management glossary.

Learn how to use iron triangle project management and agile together to manage different variables and make the best decisions to reach business goals.

This article helps you effectively carry out release planning for multiple and individual releases thereby connecting product strategy and tactics.

The value vs effort framework is a feature prioritization tactic that zeroes in on ROI. Here's how to apply it to your product roadmap.

Actionable Product Strategy Resources you need to put more strategic practice into the hands of Product Teams

One of the characteristic of Agile Development is the Continuous Delivery of Value which can be measured through Net Present Value.

How do you define the value of your market offering? Can you measure it? Few suppliers in business markets are able to answer those questions, and yet the ability to pinpoint the value of a product or service for one’s customers has never been more important. By creating and using what the authors call customer value models, suppliers are able to figure out exactly what their offerings are worth to customers. Field value assessments—the most commonly used method for building customer value models—call for suppliers to gather data about their customers firsthand whenever possible. Through these assessments, a supplier can build a value model for an individual customer or for a market segment, drawing on data gathered from several customers in that segment. Suppliers can use customer value models to create competitive advantage in several ways. First, they can capitalize on the inevitable variation in customers’ requirements by providing flexible market offerings. Second, they can use value models to demonstrate how a new product or service they are offering will provide greater value. Third, they can use their knowledge of how their market offerings specifically deliver value to craft persuasive value propositions. And fourth, they can use value models to provide evidence to customers of their accomplishments. Doing business based on value delivered gives companies the means to get an equitable return for their efforts. Once suppliers truly understand value, they will be able to realize the benefits of measuring and monitoring it for their customers.

Agile prioritization technique is one of the major concepts of agile practices and a very essential topic for PMI-ACP exam preparation towards achieving an agile certification.