The Product Management Vacuum and the 3 V's
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In between the larger organizational goals and the day-to-day work of Development Teams, exists a vacuum. The thing about any vacuum is that it has an innate need to be filled. If we are not careful, this 'Product Management Vacuum' will get filled with meaningless busy work and extensive task management. Being busy without clear direction. This session introduces the 3 V's -- Vision, Value, Validation -- as a way to get out in front of this problem.
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The Product Management Vacuum and the 3 V's
- 1. effective agile. effective agile. challenge everything Don McGreal / Ralph Jocham The Product Management Vacuum
- 2. Dallas, Houston, Minneapolis, Cleveland, Columbus, Calgary linkedin.com/in/donmcgreal @donmcgreal Don.McGreal@improving.com Switzerland / Europe effective agile.challenge everything linkedin.com/in/ralphjocham @rjocham Ralph.Jocham@effectiveagile.com
- 3. 3
- 4. effective agile. Let’s start with… Follow the instructions on your handouts. 4 3 2 1 0 4 minutes!
- 5. effective agile. Summer Meadows Exercise Draw this: 10 blue flowers with 5 petals each 5 blue flowers with 6 petals each 13 red flowers with 6 petals each 2 cows with 3 black spots 1 cow with 5 black spots 2 cows with 4 black spots 2 birds to reside in the upper left corner 3 birds in the middle 1 sun to the right with 5 sun beams Your success will be measured by how closely you match the specs. Draw a beautiful summer meadow with blue and red flowers in green grass, some cows and birds under a shining sun. This scene reminds our customer of their childhood growing up on a farm. Your success will be measured by how happy your customer is with it. Where do you suppose these specs came from? What is this? How did this affect how you worked? How did this affect how you worked? What would you do differently next time?
- 6. effective agile. The Bigger Picture Company Vision Business Strategy Product Vision Product Strategy Release Plan Sprint Plan Daily Plan Vision Value Validation Project Charters Project Plans (time, budget, scope) Milestones Focus on… Over… Product Management Vacuum
- 8. effective agile. Boiler Plate Warning Boiler plate vision statements tend to be ignored. Try pragmatic, real, & emotional.
- 9. effective agile. A Vision should have… 1. Clear Customer Segment 2. Clear Value Proposition 3. Emotion 4. Practicality 5. Pervasiveness
- 10. effective agile. Techniques For Modeling Business Strategy Business Model Canvas The original business strategy canvas Lean Canvas A simple problem/solution approach targeted for entrepreneurs and startups Value Proposition Canvas Helps design product and services your customers want to buy Have you used any others?
- 11. effective agile. Business Model Canvas for LinkedIn ©2008-2017 Improving Enterprises, Inc businessmodelgeneration.com Professionals Recruiters Companies Networking News Find Candidates Branding Advertising
- 12. effective agile.
- 13. effective agile.
- 14. effective agile. Innovation Games® Product Box Front • Product Name • Image(s) • Clear Target Customer • Clear Value Proposition Back • Sub-features
- 15. effective agile. Techniques For Creating A Product Vision Product/Vision Box A collaboration tool for identifying the most important features and a vision for a product Elevator Pitch Template A popular template to help organize thoughts about the vision Have you used any others?
- 16. effective agile. Product Vision Template FOR … [target audience] WHO … [need, want] [product name] IS A … [market category] THAT … [one key benefit] UNLIKE … [competition or current situation] OUR PRODUCT … [competitive advantage] * From “Crossing the Chasm” Geoffrey Moore
- 17. effective agile. A Vision should have… 1. Clear Customer Segment 2. Clear Value Proposition 3. Emotion 4. Practicality 5. Pervasiveness
- 18. effective agile. Two Brains Emotional Practical Low High LowHigh Source: http://gamestorming.com/2-brains-tell-it-sell-it/ Happy CPAs! Speeds up the mundane work so you can get home for dinner OptimizeWorkflowfor CPAs Speeds up workflow
- 19. effective agile. A Vision should have… 1. Clear Customer Segment 2. Clear Value Proposition 3. Emotion 4. Practicality 5. Pervasiveness
- 21. effective agile. 1-2-4 (Table) Exercise What is value? 1 - 30 secs 3 2 1 0 2 - 60 secs Table – 1:30 secs
- 22. effective agile. For People, Value is…
- 23. effective agile. The benefit to the organization, represented in money terms, that results from the use of a product or service. For Organizations, Value is… The benefit to society, not necessarily represented in money terms, that results from the use of a product or service. FOR-PROFIT ORGANIZATIONS NOT-FOR-PROFIT ORGANIZATIONS
- 24. effective agile. Creating Value What is the only way for a Scrum Team to create value?
- 25. effective agile. A Release Is Needed To Realize Value ReleaseIdentifying requirements Creating the business case Analyzing the industry and competition Identifying customers and their needs Forecasting and feasibility Strategic product planning Release planning Release execution Product Launch Auditing results Sustaining the product Product retirement Creating a roadmap Value
- 26. effective agile. Traditional Development Delays Value Value Months 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
- 27. effective agile. Business Value Over Time Scrum Waterfall
- 29. effective agile. Project vs Product Exercise What makes a project successful? Your success will be measured by process compliance Your success will be measured by the validation of value delivered What makes a product successful? 4 3 2 1 0 4 minutes!
- 30. effective agile. Product Owners Have a Product Mindset Scope TimeBudget Leads to less business involvement, more task management. Project Mindset Success upfront defined inside out: • Scope • Time • Budget Product Mindset Success continuously driven by business metrics outside in: • User adoption/retention • Revenue • Cost savings per feature Leads to less waste, more creativity, and more releases. Focus on Value leads to Frequent Validation Focus on Projects leadsto Process Compliance
- 31. effective agile. Release Business Value Over Time Scrum Waterfall
- 32. effective agile. Business Value Over Time – Optimized Release Release Release
- 33. effective agile. Two Forms of Validation 1. Expertise 2. Reality Everything is a guess until this happens!
- 34. effective agile. Minimal Viable Product (MVP) • Has enough value that people are willing to use it or buy it • Demonstrates enough future benefit to retain early adopters • Provides a feedback loop to guide future development Kano Model
- 35. effective agile. MVP Patterns • Single Feature • Promotional MVP • Mining MVP • Landing Page • Wizard of Oz Kano Model
- 36. effective agile. Measuring the Three Vs Putting it all together
- 37. effective agile. Delivery Metrics Pizzas Delivered per Trip Time taking an order Time for Delivery Miles per Delivery Fuel Used Order Accuracy (Quality) Route Efficiency Orders per Driver Owner Metrics Revenue Investments/Costs Customer Satisfaction Repeat Customers Employee Satisfaction Growth Market Drivers & Trends Market Share Circumstantial Direct
- 38. effective agile. Delivery Metrics Velocity Number of Tests Code Coverage Defects Coupling Cohesion Code Complexity Build Failures Process Adherence Owner Metrics Revenue Per Release Per Employee Investments/Costs Customer Satisfaction Employee Satisfaction Lead & Cycle Time Innovation Rate Customer Usage Circumstantial Direct
- 39. effective agile. Tracking Metrics Sales Employee Satisfaction Cost: $50k/Sprint
- 41. Wildly Important Goal 1. Focusing on the Wildly Important Goal 2. Acting on Lead Measures 3. Keeping a Compelling Scoreboard 4. Creating a Cadence of Accountability
- 42. effective agile. Yes, We Do Scrum. And Our Product Owner Is A… 55 Product Owner Role Expected benefits EntrepreneurSponsorBusiness Representative ProxyScribe Yes, And… Not Scrum Initiating Receiving
- 43. Dallas, Houston, Minneapolis, Cleveland, Columbus, Calgary linkedin.com/in/donmcgreal @donmcgreal Don.McGreal@improving.com Switzerland / Europe effective agile.challenge everything linkedin.com/in/ralphjocham @rjocham Ralph.Jocham@effectiveagile.com Thank You!