Book Image

Lean Product Management

By : Mangalam Nandakumar
Book Image

Lean Product Management

By: Mangalam Nandakumar

Overview of this book

Lean Product Management is about finding the smartest way to build an Impact Driven Product that can deliver value to customers and meet business outcomes when operating under internal and external constraints. Author, Mangalam Nandakumar, is a product management expert, with over 17 years of experience in the field. Businesses today are competing to innovate. Cost is no longer the constraint, execution is. It is essential for any business to harness whatever competitive advantage they can, and it is absolutely vital to deliver the best customer experience possible. The opportunities for creating impact are there, but product managers have to improvise on their strategy every day in order to capitalize on them. This is the Agile battleground, where you need to stay Lean and be able to respond to abstract feedback from an ever shifting market. This is where Lean Product Management will help you thrive. Lean Product Management is an essential guide for product managers, and to anyone embarking on a new product development. Mangalam Nandakumar will help you to align your product strategy with business outcomes and customer impact. She introduces the concept of investing in Key Business Outcomes as part of the product strategy in order to provide an objective metric about which product idea and strategy to pursue. You will learn how to create impactful end-to-end product experiences by engaging stakeholders and reacting to external feedback.
Table of Contents (19 chapters)
Lean Product Management
Contributors
Preface
Another Book You May Enjoy
Index

Summary


In this chapter, we learned that the product backlog must include only those feature ideas that will have a significant impact on Key Business Outcomes. If a feature idea is not expected to meet Key Business Outcomes, then there is no value in spending any effort in exploring the idea. Effort here is analysis, viability testing, market research, and so on. Needless to say, we need data and insights to make a better estimate about the impact of a feature idea, but sifting through this ensures that our product backlog stays lean. We can then steer all our efforts toward the most valuable outcomes, both for the customer and for the business. Impact scores are only one aspect of determining the effectiveness of a feature. There are costs associated with implementing a feature idea.

Before we venture into the costs of building a feature, we need to define success criteria. We must define what indicators will tell us not just if our estimated value impact is correct, but also where we failed...