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

Defining success metrics


For every feature idea we came up with in Chapter 3, Identify the Solution and its Impact on Key Business Outcomes, we can create feature cards that look like the following sample. This card indicates three aspects about what success means for this feature. We are asking these questions: what are we validating? When do we validate this? What Key Business Outcomes does it help us to validate?

The criteria for success demonstrates what the business anticipates as being a tangible outcome from a feature. It also demonstrates which business functions will support, own, and drive the execution of the feature. That's it! We've nailed it, right? Wrong.

Success metrics must be SMART, but how specific is the specific? The preceding success metric indicates that 80% of those who sign up for the monthly art catalog will enquire about at least one artwork. Now, 80% could mean 80 people, 800 people, or 8000 people, depending on whether we get 100 sign-ups, 1000, or 10,000, respectively...