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-impact matrix


The cost -impact matrix can help us visualize the trade-offs and advantages we get by investing in a product feature. This can help us prioritize and prune our product backlog.

Based on the cost and previously determined business value scores, we now have a clear view of our prioritization matrix. The features in quadrant one are the quick wins (low cost / high value). Anything in quadrant four should not be picked up. Risk backlog, which exists outside of the quadrant, should include functionality or tasks that haven't been picked up now, but are likely to have an impact later. Also, this gives a clear view to the business sponsors of the costs they will incur when we need to build this functionality in the future.