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

Estimating impact on Key Business Outcomes and derive value scores


Once we have a backlog of user features, we need to estimate the impact of those features on invested business outcomes. I use the word "estimate," since we're only trying to guess the extent of the impact that a feature could have on our business outcomes. Even when we have data and insights about usage patterns and needs, we may not be able to accurately pinpoint our product's performance. Since businesses (and products) operate under high ambiguity, we may have little control over what could influence our product's performance. So, in order for us to plan ahead, we have to rely on past data, our business aspirations, our resources, our capabilities, our strengths, and our weaknesses:

Deriving value scores

In Chapter 2, Invest in Key Business Outcomes, we discussed using the Investment Game. We were able to capture the amount that business stakeholders would be willing to invest in the Key Business Outcomes. For the ArtGalore...