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Product Management Analytics Purpose & Goals

June 10, 2024 By Scott

At a strategic level, Product Analytics isn’t just about the “How.” That’s important, but is more tactical. It’s more about the “What” and the “Why.” Basically, are your outcomes driving toward your goals.

We are overwhelmed by information, not because there is too much, but because we haven’t learned how to tame it. Information lies stagnant in rapidly expanding pools as our ability to collect and warehouse it increases, but our ability to make sense of and communicate it remains inert, largely without notice.

Stephen Few, Data Visualization Expert

The What and the Why

What are you trying to do? Probably running and growing your business; within guardrails including internal financial and external regulatory concerns. Most analytics are historical lagging indicators. You may have items you consider leading indicators; a sales pipeline or scheduling system, possibly equipment failure estimations, etc. And you may be using predictive models including AI tools. But mostly, your performance reports will be historical. And why study history? Typically it’s to try to predict or change the future.

So What are you trying to do?

[Read more…]

Filed Under: Analytics, Product Management, Tech / Business / General

Strategic AI Considerations for Senior Product Leaders: Navigating Innovation and Execution

May 28, 2024 By Scott

Introduction

Strategy Considerations
Typos courtesy of AI image generation. We’re still not quite there yet.

Artificial Intelligence is yet another tool that is an overnight success, decades in the making. The Fear Of Missing Out (FOMO) seems huge since ChatGPT brought AI from what Gartner’s Hype Cycle calls the Trough of Disillusionment to what might be the beginnings of the Slope of Enlightenment. But what do you really need to do with it, if anything? Do you need to build anything strategically core to your customer offerings? Use it as a tool to enhance existing offerings? Or use something more operational; from process management to marketing. One challenge right now is people seem to want to just sprinkle some AI on things to make sure the buzzword is in a product checklist or annual report.

According to Statista’s “AI Trends & Predictions Roadmap to 2025,” AI market value will increase from US$244 billion in 2025 to US$827 billion by 2030. You can find predications of various magnitudes from other sources. But what does it mean? Chances are it means your competitors are deploying AI. Whether it’s for something useful with solid ROI or not is the question. If your competition is deploying things, you’d better at least be doing research.

So where do you start? Too many posts I’m seeing talk about AI Strategy go right to implementation. That’s AI at tactical level. There’s value in that. And it’s possible to think of general capabilities as strategic. But being strategic means starting with your business drivers. Your AI strategy, (just like all the others), should be based on the value you’re trying to create. At the very highest level, as always… there’s basically two goals: Increase Revenue. Or Decrease Costs. Unless you’re actually building and selling the AI tools themselves, chances are the value you’re creating comes from elsewhere. In which case AI is “just” a tool; another means to an end. Being skilled at it may be a strategic capability, but it’s not a business strategy in and of itself.

[Read more…]

Filed Under: Product Management, Tech / Business / General

Professional Videoconference Tips & Tricks

May 24, 2024 By Scott

Recently, more than a handful of colleagues in a networking group I belong to expressed concerns about videoconferencing issues since working remotely more often. As someone who’s worked remotely for years, I’d perhaps forgotten there are many for whom this is still new. Over time I’ve collected my own set of tips. There’s plenty of other tips out there, but I’m going to spill them all out for you here in depth to try to make a comprehensive list. If you find I’ve still missed a favorite tip you’ve gotten, please make a comment.

[Read more…]

Filed Under: Tech / Business / General

Product Management & Sales – Building a Pipeline

May 15, 2024 By Scott

TL;DR: If you’re a product manager at an early-stage company that’s about to hire for sales, and you end up temporarily supporting the entire process ahead of these hires, you may need to get ahead of things. If this is where you are, skip the following intro bits and head down to the Sales Stage Forecasting Process template below.

[Read more…]

Filed Under: Marketing, Product Management, Tech / Business / General

Product Management & Sales – BFFs?

April 29, 2024 By Scott

TL;DR: A strong product and sales relationship is crucial for any company’s success. Ideally, these teams should work together seamlessly with a shared goal and a collaborative spirit. However, tension can sometimes arise, as with any other working relationship. But if you’re in product management and don’t see the sales team as a valuable partner, it’s time to reframe how you view this critical collaboration.

[Read more…]

Filed Under: Marketing, Product Management, Tech / Business / General

Staff Augmentation for Software Projects – Why and How

March 6, 2024 By Scott

What is Staff Augmentation and What Flavors Does it Come In?

Staff Augmentation - Man picking people icons from screenStaff Augmentation may be just a new fancy way of saying “Contractor,” or “Consultant,” or similar. However you want to define it, external professionals you bring on to your project become embedded with your own team; whether they’re on site or remote. Typically, these temporary team members will report to your own Business Analysts, Project Manager, Scrum Masters, or whomever your product/project owner happens to be. If you’re sourcing this talent from a firm, they will have their own general management and possibly project management, but but will usually report to someone on your team as a matter of day-to-day workflow.

Typically, staff augmentation will be a relatively simple affair. You’re going to hire an individual or a firm to provide contracting services; usually for a set period of time, maybe with an option to extend a contract. You’re buying skills that you will deploy to a project. This could be to backfill one or two people or add a special skill on a temporary basis. Another option is you’re staffing a whole team. This could be where the externally contracted firm provides not only engineering talent,  but also design, project management, and possibly business analysis as well.

[Read more…]

Filed Under: Product Management, Tech / Business / General Tagged With: development contracting, staff augmentation

Killer Product Management – Mission and Safety Critical Applications – Part 1

June 30, 2022 By Scott

Introduction

The title isn’t a euphemism. This is about when product management decisions can do damage.

In Part 1 of this writeup, I’m going to define some of the challenges for Mission and Safety Critical applications as compared to typical development. If you want to skip right to more practical considerations for what to do about such things, go right to Part 2, with a checklist followed by explanations of the line items.

Over the years I’ve moved from consumer oriented products to B2B and B2B2C, most recently several years working on healthcare solutions. On this path, I’ve learned a lot about Safety Critical application issues. It’s stuck me that people who ‘grew up’ in such environments may have a lot of this knowledge through intrinsic experience. But for those transitioning to such areas or in startup mode who haven’t been there, (as was my path), it’s possible there’s knowledge gaps. What I often do when learning new things is take note in my own Wiki, and over time develop some degree of body of knowledge in a subject area. So my goal now is to share back what I’ve learned for those who may find it useful.

What’s the difference between “Mission Critical” or more extremely, “Safety Critical” vs. “typical” product management? Rather than try to formerly define it, let’s keep it simple. Safety Critical products are those that – for certain failure modes – can hurt or kill people. (Or cause significant property or environmental damage.) Often, they’re things that move in our environment; that is, actually do things. A basic compare and contrast might be an advertising delivery system for content vs. an insulin pump; failure of the first maybe means some lost money, whereas failure of the second… clear enough, right? Mission Critical – as distinct from Safety Critical – might mean less severe human consequences, but a ‘hard’ failure or challenge nonetheless. E.g., a failure in a basic regulatory compliance issue could result in anything from minor work stoppage or fines though potential criminal negligence. Or a failure of the software on a Mars Rover results in loss of the unit, associated waste and data loss. No one gets hurt or dies, but the mission is basically lost.

In short, these are not really applications where we want to “fail fast and learn.” These are apps that have somewhat more crisp “Minimum Viable Product“ standards when it comes to the “Viable” part.

The Short Version of Issues for Mission / Safety Critical Products

  • Mission and Safety Critical systems demand something beyond basic Agile Product / Project management approaches. (And this may include products in highly regulated areas as well.)
  • There is often a moral component that exists beyond other types of products / services.
  • More planning is required than for non-critical systems.
  • Agility may be more often impacted by external dependencies.
  • So called “Non-functional” requirements may become critical.
  • Risk assessments must be included as a core concern.
  • There’s a suggested checklist for Mission / Safety Critical Products in Part 2 of this writeup that you may find useful if you work on these types of products.

That’s it. You can stop reading now. But for fuller discussion of these points, please continue. Or skip to Part 2 for the just mentioned checklist items.

[Read more…]

Filed Under: Product Management, Tech / Business / General

Feature Ideation and Evaluation for Product Managers

April 21, 2022 By Scott

We have models for trying to ideate what features might be good to include in a product or service. And we’ve got ways to assess idea value. But how often do we really think about the many potential input sources for creating ideas? And what about how we can quickly round out those initial ideas? The following write up assumes that we’re talking about existing products and enhancing them.

We have tools from typical brainstorming sessions to Design Sprints. But again, what about the root sources of ideas? Are there structured ways to try to get to some good ideas? I’m going to offer up a few depictions of idea sources, as well as some ways to quickly assess some early ideas. This latter part, quick initial assessment – or triage, is really the main point. There’s already plenty written about idea development, innovation workshops and the like. But fast assessment is increasingly important. The Minimum Viable Product and Scrum worlds are – at their core – really about trying to sell speed. Yes, yes, I know… the goal is the right product and feature set at speed, but it at least feels over the past decade or so that the desire for speed has been more at the forefront. (In spite of what’s being sold as the product-market fit benefits of the methods.)

Personally, I believe at a fundamental level there’s only two real sources of new product ideas…

  • Flash of Insight: This is when you just have that “ah hah” moment. It’s when you’re using some kitchen item and say, “why doesn’t someone make this.” Or a digital product and you think, “you know, if only I had THIS everything would be great.” At that point, you can send an idea into a company, or build your own products if you’re feeling entrepreneurial. But the raw source of your idea was an experience of a visceral need to solve an issue to which you had a solution based response.
  • Research: Yes. Of course. Research. Obvious, right? But is it really? There are a lot of different ways to do consumer and marketplace research.

And what about when it’s time to actually craft these ideas into features? We have the modern idea of a Story when we’re using Agile. And there’s a simplistic idea of “What is our Definition of Done” for a story, also referred to as “Acceptance Criteria.” But in some ways, this last bit is really an add on to try to fix the fact that Scrum – for all it’s speedy goodness – may have dropped too much off as it tried to abandon Waterfall methods and heavier product definition documents. Ignoring potential holes doesn’t make them go away. Maybe a bit more needs to be done prior to a sprint planning meeting. While every line item on the lists below doesn’t need to be in the recipe every time, it’s still useful to have a checklist. So I’m going to present some tools for a three phase approach to frame these issues. Here’s the categories and links to the presentations and templates if you don’t feel like wading through the rest of the Step-by-Step explanatory text that follows.

Charts / Sheets Tools for your use…

NOTE: These are meant to be checklists. There are likely too many steps here. You have to edit these down so they apply to your situation.

  • Feature Ideation: Sources and Processes
  • Feature Round Out (Better Definitions)
  • More Formal Feature Prioritization

If you want a little background first, let me take a few moments to go through each of these…

[Read more…]

Filed Under: Product Management, Tech / Business / General

The Order: Vision, Mission, Goals, Strategies, Objectives, Tactics

January 25, 2022 By Scott

Late 2024 Update to this post: Before I get into this extensive and rather long article, I have to share this book with you. It’s called “No Bullsh*t Strategy: A Founder’s Guide to Gaining Competitive Advantage with a Strategy That Actually Works” by Alex M.H. Smith. Awesome. The whole book is shorter than my article and likely more valuable, though you still need to study at least some of the classics. (Including”On Competition” by Michael Porter, “Good Strategy/Bad Strategy: The difference and why it matters” by Richard Rumelt, and “Blue Ocean Strategy” by Kim and Mauborgne.)

Anyway… to our story…


Warning. This is about to be a long article. So instead, here’s the tl;dr (too long; didn’t read) version: Here is your vision/mission/strategy all in one sentence… There’s something you want to do in the world because you think it has value and you have a better way of doing it than anyone or better yet, a different way to satisfy some need.

Next, here’s your one sentence goals/objectives/tactics: You have some specific means to accomplish these things.

There. You’re done. You don’t have to go further.

So you really want the full version? OK then…

Why anyone would want to re-hash this topic is a fair question. It came out of a discussion I had with some relatively junior product managers who came to Product, as is often the case, from other specialties. So many management books and courses… So many definitions of the same things. So many years of struggle. And yet… we still have differing definitions, suggestions, and apparently confusion about what seem to be the basics for high level strategy and associated concepts. You can easily search for some of these key words and find other authors with completely opposite viewpoints of each other. But not always explanations as to why. I, perhaps foolishly, think I might understand where some of the confusion has come into play. And since I’ve got what I think might be a path through this, I’m going to give it a shot…

There’s a really long writeup coming, but here’s a summary…

[Read more…]

Filed Under: Product Management, Tech / Business / General

When NOT to Work with Outsourced Software Development Companies

January 11, 2022 By Scott

Several of my past articles have dealt with “When to Work with Software Development Companies” and “How to Work with Software Development Companies.” I’ve been asked to come up with some thoughts about When NOT to work with an outsourced software development company. In the interests of full disclosure, I’ve worked for a fairly large software development company in the past. I’m a big fan of using such services for all manner of reasons ranging from cost to flexibility, and so on. In other words, I’m biased towards the value of outsourced software development; at least for some purposes. Still, after some recent conversations and friendly debate with colleagues and others, it’s clear that I haven’t given proper consideration to the other side of that coin. There may be some situations where you may be better off creating or keeping development capabilities in house. So I’m going to go over some of these considerations here. At the same time, I’ll try to inject a few ideas for how to mitigate them where or if possible.

So. What might these issues be? [Read more…]

Filed Under: Product Management, Tech / Business / General

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