Modern product development is witnessing a drastic shift. Disruptive ideas and ambiguous businesses conditions have changed the way that products are developed. Product development is no longer guided by existing processes or predefined frameworks. Delivering on time is a baseline metric, as is software quality. Today, businesses are competing to innovate. They are willing to invest in groundbreaking products with cutting-edge technology. Cost is no longer the constraint—execution is. Can product managers then continue to rely upon processes and practices aimed at traditional ways of product building? How do we ensure that software product builders look at the bigger picture and do not tie themselves to engineering practices and technology viability alone? Understanding the business and customer context is essential for creating valuable products.
This chapter addresses the following topics:
Defining our business model and unique value proposition
Deriving inputs for product development
Understanding key business outcomes
Defining our Impact Driven Product