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

The cost of a digital solution


We get to this step only if we have established whether a feature is a differentiator or an enabler, but with no options or suboptimal options, for ready-made solutions. We need to assess if we can build this functionality in the time frame that we have (refer to Chapter 6, Managing the Scope of an Impact-Drive Product).

This will help us to arrive at the costs that include (but are not limited to) the following:

  • The development cost (time and people)

  • Resources (software, assets, and hardware)

  • Hosting

  • Support and maintenance

  • Training

Now we can drill down to the specifics of cost numbers. A quick-and-dirty solution might require higher maintenance. Compromise on user experience might require higher training investment. In some cases, pricing for hosting, an off-the-shelf solution needs to be worked out. However, our cost assessments can also be relative. So, we can box our feature costs into small, medium, or large buckets, or even rank them on a scale of 1-10 in...