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Steve Jobs once said that “While we don’t do everything, we believe the things that we do are truly excellent.” Tomer London follows that same approach at Gusto. In this post, he explains the framework that he uses to prioritize product features that are based on product vision and allows them to compare ideas that have different goals from each other. This framework looks at the idea’s impact and customer’s expectations. (via @tomerlondon)
“Every new feature or product your team works on is an opportunity cost for the company. As a product manager, it is absolutely critical that you fully understand your customer needs and establish a prioritization process to identify what your team should be working on next. Without proper prioritization, your team could waste many months of time and cash building the wrong thing.” The folks at Product Manager HQ provide some suggestions for how to approach prioritization and explain how to describe that approach in a product management interview. (via @prodmanagerhq)
“Choosing the right features for development, filtering the most important of them and skipping less urgent ones – it is all about the Art of Prioritization. How to find the evaluation criteria necessary for your product and strategic growth metrics? How to offer more value to customers and establish all internal processes inside the team with the help of prioritization?” Alexander Sergeev shared this guide for prioritization and an example of how it works in Hygger.io. (via @hygger_app)
“A good prioritization framework can help you consider each factor about a project idea with clear-eyed discipline and combine those factors in a rigorous, consistent way. “ Sean McBride describes the RICE framework that Intercom uses for prioritization from first principles. RICE is an acronym for the four factors Intercom uses to evaluate each project idea: reach, impact, confidence, and effort. (via @smcbride)
“How to prioritize features is always a hot topic for product teams. Even the most seasoned product manager struggles with determining which features and initiatives to put on the roadmap.” In this post, Jim Semick covers seven popular strategies for prioritizing features. You can use these seven techniques to establish agreement on the criteria you use to prioritize and guide prioritization conversations. (via @jimsemick)
There are a variety of different ways to prioritize features, and even though there are “countless tools, books, blog posts, and interview questions on the subject there isn’t – yet – consensus in the product management community on which product prioritization method gives the best results for customers and the business.” Kate Bennet surveyed 46 product managers on how they prioritize features and shared the key things she learned from that survey.
In order to build the best possible solution, a product manager needs to understand WHY they are building. Once the problem and stakeholders have been identified, how does a PM tackle solving it? In a video from Product School San Francisco Jeff Betts “covered this problem-solving framework and shared insights and anecdotes from his user-first approach to product development and prioritization strategy.”
Questions around prioritization and decision making are the most frequently discussed questions in product teams today. Richard Banfield shared some insights that attempt to answer those questions and “provide a process for decision making and prioritization.”
“Deciding on what to do and when is a critical part of the role of product management.”Matthew Ho shared some lessons that he has learned when communicating his priorities in his roadmap. Those lessons include ideas such as be open and transparent, involve your team, and use criteria but don’t rely solely on that criteria.
There is a great of value in explicitly stack ranking the items you are going to work on. However if you have a large backlog, the sheer number of items can be overwhelming. Todd Little has found an approach where he categorizes each item into Must (A), Wished (B) or Not Targeted ( C ) that helps “provide the balance necessary to allow tradeoffs of scope and schedule while accounting for the inherent uncertainty that is present in software projects.” (via @toddelittle)