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

Chapter 5. Identify the Impact Driven Product

In the past few chapters, we saw how to evaluate the impact of feature ideas and define our success metrics. While defining success metrics, we were able to identify the different aspects of a business that need to come together to weave a delightful end-to-end product experience. This is the first step in creating a plan of execution for a feature idea, but there are many ways in which we can create the product and deliver value. Businesses strive to create products that provide lasting value for their customers. The Impact Driven Product for a business is not just about something that works. It is about what creates the most value. Product development should be open to consider, compare, and evaluate the value of building something from scratch versus buying an existing solution versus the necessity of building anything at all.

This chapter addresses the following topics:

  • Value mapping

  • Defining the Impact Driven Product

  • Understanding the risks...