About The Book: #ProMa Product Management Tools, Methods and Some Off-the-wall Ideas

#ProMa Cover

Based on his popular blog, Dinker Charak brings a collection of tools, methodologies, and some unexpected approaches to Product Management. He also talks about his entrepreneurial journey from the eye of a Product Manager and discusses the strategy and its failures.

Available as Kindle eBook

Early Praise for #ProMa

Sriram Narayan Agile IT Org Design ProMa Dinker Charak
Dinker offers an enjoyable potpourri of helpful advice and ideas from his experience in consulting and his experiments with building products.

– Sriram Narayan, Digital-IT management consultant, ThoughtWorks & Author Agile IT Organization Design
Sriram Narayan Agile IT Org Design ProMa Dinker Charak
Dinker is a magician — in a crisp book that is light and easy to read, he has packed in more than a semester’s worth of high priced B school education, and several years (and many dollars!) worth of lessons from a startup. Pick it up, you will not be disappointed.

– Naren Nachiappan, Co-Founder, Jivox
Devangana Khokhar Gephi Cookbook ProMa Dinker Charak
A brilliant resource for all consultants, irrespective of the role they are in, and not just Product Managers. Dinker has poured his years of experience into this one book. He covers entire life cycle of a product/business evolution and introduces a lot of handy artifacts – checklists, frameworks, tools, etc. – that can be readily used at various stages of evolution. He sheds light on the real-life charms and challenges of building a product and does so in a simple yet eloquent manner. Keep an open mind and give this book a read – you’ll later on thank him for providing a wealth of knowledge on the topic.

– Devangana Khokhar, Senior Data Scientist & Strategist, ThoughtWorks & Author Gephi Cookbook
Dinker is quirky, interdisciplinary and full of real-world wisdom. The same could be said of this breezy new book on Product Management.

There are plenty of simple ProMa tools you can use every day – ‘Product in a Box’ and ‘Five buckets of Product Management’ stand out. There is also the philosophical exploration of the subject through lenses as varied as Indian materialism, Francis Bacon (he of the scientific method), and Rene Descartes. Most remarkably, there is a vivid tale of a failing startup – something any product entrepreneur will benefit from.

If you’re a product manager or work with these sometimes-mysterious creatures, take a copy on your next flight. You’ll have a spring in your step when you land.

– Nagarjun Kandukuru, Principal Digital Strategist, ThoughtWorks
"Who is my customer? Everybody, anyone you can think of—"

"Who is my competition? Amazon, Google, Netflix— (add any popular name in the Silicon Valley)."

"Who am I? I am a technology company who happens to do X (the industry this company should be in, till I probably walked in)."

This is what I keep hearing from the C-Suite at the clients I am engaged with.

In this world of needing and wanting to reinvent (or else—you are doomed), the most common response I have seen people resort to is by saying we have moved to a "product organisation" or an "experience organisation". This, no one will argue, needs change.

However, Dinker continues to argue that the challenges lie in the core philosophy. It’s not an easy journey. I can guarantee you will fail if you thought reading this book will solve the challenges of "product thinking".

But here lies a great starting point from a great product philosopher, thinker, transformer, doer and practitioner, and above all, a great colleague and a friend.

Read on, but engage with him when you get a chance. He will not fail to surprise you.

– Sagar Paul, Client Services – Strategic Accounts, at ThoughtWorks

Why the Book #ProMa and Why Now?

Product Management is an accidental and a new role. It is gaining importance as a pivotal for a Product based business. Being new, there are no set definitions, job descriptions or even well-known educational courses. In fact, in IT industry, Product Managers come from the most diverse set of background and may not always be technical or even have an MBA.

As opportunities for Product Managers grow, it is natural that consulting organization start offering this as a consulting role. This increases the complexity of the job.

As the role evolves, all this leave a new-comer with lots of questions about how to go about the job.

This book is based on the real and personal experience of being in this role in a variety of situations and draw upon the experience and output of last decade. Thus, the book also presents an opportunity to establish some Thought Leadership in this domain.

About the Book #ProMa

“Based on his popular blog, Dinker Charak brings a collection of tools, methodologies, and some unexpected approaches to Product Management. He also talks about his entrepreneurial journey from the eye of a Product Manager and discusses the strategy and its failures.”

Each chapter is complete in itself and focused on a specific theme. Some chapters may rely on concepts introduced in details in a previous chapter. However, a reader can still benefit from it without know details from the earlier chapters.

Some ideas are results of extended discussions, an opinion sought or a point-of-view constructed for a client. All of them are the result of sincere effort to produce something useful and usable. And at times, something unique.

The book is divided into three sections.

The first section (chapters 1-6) is about various tools & methods I have created and used for Product Management. These include the Product Management Canvas and the Product workshops I run.

The second section (chapters 7-18) is about various thoughts and ideas that I have around what it means to be a Product Managers and around Product Management.

The third section (chapters 19-26) is about entrepreneurship and based on my experience as a founder who hasn’t succeeded yet. It also has some ideas on team building, mainly around a novel concept of Dirty-Work Group.

Key Takeaway from the Book #ProMa

The book covers the entire lifecycle of a product/business evolution and introduces a lot of handy artifacts - checklists, frameworks, tools, etc. - that can be readily used at various stages of evolution.

There are plenty of practical ProMa tools you can use every day and also the philosophical exploration of the subject through lenses as varied as Indian materialism, Francis Bacon (he of the scientific method), and Rene Descartes and Sociology.

Who is the Target Audience For the Book #ProMa

The First Timer:

Has a tech, business or design background. Is now a Product Manager for a B2C product. Is poly-skilled enough to get the job but worried if is knowledgeable to pull it along.

An Experienced ProMa:

Has been a ProMa in an Enterprise that is building a B2B product. Has done MBA and/or has a technical background. With the expectation of B2B products to respond to market at speed of startups and with Usability of B2C products, is looking for ideas on how to reinvent the attitude towards this job.

An Entrepreneur / Founder:

Realising that a Founder is the first Product Manager of the startup’s Product, the Founder wants to ensure a proper approach is taken and not detail falls through the cracks and is looking for tools and checklists to ensure all basis are covered.

Business Folks:

ProMa help monetise a business opportunity via a Product. For key business owners, it is important to understand what a ProMa does and how does a ProMa think. This book can help them understand the variety of aspects of a ProMa, gain a better appreciation and establish meaning and deep partnerships.

About the Author of the Book #ProMa

#ProMa Author Dinker Charak

Dinker Charak has over 17 years of rich, diverse experience in the software industry building products that matter.

During his career, he has built software products that have been part of Real-time Operating Systems, Paperless Offices, Home Automation, help develop Online Video Ads business and founded a startup. Dinker was worked at Fermilab (US) and contributed to CERN (Switzerland), two top research lab that conducts basic research into particle physics. He holds a patent in Advertising Technology.

As personal interests go, Dinker holds Product Management Workshops for startups in collaboration with IIM Ahmedabad, CIIE, NASSCOM's 10,000 Startups and ThoughtWorks.

Dinker has done Master in Computer Application from International Institute of Professional Studies, Devi Ahilya University, Indore, India.

Amazon: https://www.amazon.com/author/ddiinnxx

Blog: http://www.ddiinnxx.com

Facebook: https://www.facebook.com/dinkeratwork

LinkedIn: https://www.linkedin.com/in/dinkercharak/

Professional Profile: https://www.thoughtworks.com/profiles/dinker-charak

Twitter: https://www.twitter.com/ddiinnxx

YouTube: https://www.youtube.com/playlist?list=PL_IUZYlwwD4F1ZZ_BKU7FD3ll0BJS7rBr

Product Management Canvas – Product in a Snapshot

Product Management Canvas (PMC)

The Product Management Canvas (PMC), is a strategic management and entrepreneurial articulation tool. It allows one to describe a product having the highest return on investment versus risk.

This is different from Product Model Canvas or Roman Pichler’s Product Canvas.

Where Does Product Management Canvas Fit?

Let us understand the Product Flow. I have talked about it earlier in the Hackathon: From Idea to a Product in a Day post.

 

Using Product Management Canvas

To summarise the flow diagram:

Using Elevator Pitch & Product in a Box, we describe the product we want to build. However, no product exists in a vacuum and is part of an ecosystem. We then layout the Product Ecosystem that enables the key product. The product is then described using the Product Management Canvas.

A Product Management Canvas then informs the process of Epics. Adding a business case to these we arrive at a Product Backlog. Each item in the Product Backlog can lead to one or more stories. When these stories Go Live and the hit the market, in the spirit of build-measure-learn, we learn and periodically do the Product Backlog Grooming.

The Elevator Pitch & Product In A Box, (Lean) Business Model Canvas, High-Level Products Layout and Product Management Canvas are explained in the blog post above.

Epics, Product Backlog, Stories and Build-Measure-Learn are standard terms that are described as part of the Agile process.

I think this sits one step before Roman Pichler’s Product Canvas and used to plan and describe a product, rather than track the agile product creation/development.

Understanding The Product Management Canvas

The canvas started as a checklist for Product Managers to ensure they have not missed any aspect of Product planning. However, it was always aimed to capture the current state of an evolving product. Thus, Product Management Canvas should be used to communicate across various groups and departments to ensure all have the same picture of the product.

Using The Product Management Canvas

Using Product Management Canvas Steps

The suggested flow is:

  1. Idea
  2. Market
  3. Customer Segment
  4. Business Value
  5. Features
  6. Metrics
  7. Evangelism
  8. Visual Identity
  9. Go To Market
  10. Key Resources
  11. Risks

Now let is look at each section in detail:

Product Management Canvas (PMC)

Idea

We start with describing the original problem or opportunity that the product addresses. It can be a unique need, a dormant need (we are creating the market) or aspiration (of the user/customer) that needs to be addressed.

Once the above is stated, it is important to connect it what the idea of the product and state how it addresses the above.

Market

Start by stating the market size (defined as the market volume or the market potential). VCs will want this to be a very big number. Big enough to accommodate you and all your competition.

The state the market opportunity your product addresses from the whole market size. This should be a more realistic number that should allow you sufficient growth so as to allow you to give investors a good rate of return.

A product never exists in a vacuum. There is an ecosystem of partners that enable it. We should note all key partners (data suppliers, data consumers, channels, SDKs and so on).

What’s fun without any competition? It is important to note competition and track them. If you have analysed competition in detail, you can add the link to that document. My thoughts on how to do Competition Analysis.

Customer Segment

Identifying if the product is B2B or B2C is sometimes obvious. But going one level deeper is important. (does my B2B target Startup, SME, Business Houses, MNC, etc. or does my B2C target BPL, LMC, MC, UMC, HNI, etc.) is important.

Does my B2B target Startup, SME, Business Houses, MNC, etc. or does my B2C target BPL (Below Poverty Line), LMC (Lower Middle Class), MC (Middle Class), UMC (Upper Middle Class), HNI (High Networth Individuals), etc.)?

Also important is to identify Early Adopters, Influencers, Recommenders and Innovators who try something new.

Business Value

Large organisations that create a lot of products need to ensure that there is a product – organization fit. This would involve making sure that it fits in tot established ecosystems, reuses tools used, etc and does not create whole parallel infrastructure requirements.

The product – market fit is very important and needs to be articulated crisply.

There are many revenue models available and many times the same product will have multiples of them. State the considered revenue models in this section.

Cost Analysis is a complex task but having a broad idea of the cost of producing the product that reflects the pricing model is recorded. Even when the aim is to invest in seeding the product, it is important to state and communicate the revenue – cost ratio.

It is important to state the key Regulatory & Compliance items. These should not slip through cracks of day-to-day tasks.

Features

It is important to state the value propositions / USP and communicate it uniformly. Not every differentiation is a USP, nor should it be. Along with USP, the other key features that set us apart, make usage simple or make us better than competition should also be noted.

Metrics

We all talk about success metrics. But before a product is successful there are some metrics that are minimal a product should achieve. These should not be ‘not meeting success metrics’, but independent ones.

Eg: while achieving an MAU of 1M is the success for your chat app, the number of messages exchanged is not growing at the same rate as user adoption is a failure metric.

Failure metrics are important as they tell us how key hypotheses could be wrong and it is time to reassess them and re-learn and re-build.

Viability metrics are good to have to make sure we are on track to success.

Evangelism

Product evangelism is, as Guy Kawasaki put it years ago, “selling the dream.”  It’s helping people to imagine the future, and inspiring them to help create that future.

Many things need to fall into place for an Evangelist to be effective. This section offers a checklist of essential items need to enable an evangelist.

This includes an elevator pitch, relevant content generation is a content strategy to keep it updated, uniform terminology across all departments and collaterals, SEO strategy so content is geared to show up in right searches, right brand assets, and social media presence.

Using all possible social networks is not the right approach. Choose and state ones that are relevant to the product, the audience and manageable by the team.

Visual Identity

This section offers a checklist of essential items need to establish a visual identity.

Product name, logo, icons, brand playbook, presentation/docs/stationery templates, product docs templates, Social Network assets (cover picture, etc.) and display ads assets.

Go To Market

This section offers a checklist of essential items to formulate an effective go to market strategy.

In the case of a new product, time of launch is an important date/period. Product Manager should initiate and collaborate in the launch strategy & related collaterals, describing sales and product delivery channels, positioning & promotion strategy, identify and help reach out to decision makers, influencers & recommenderssales collateral, marketing collateral, user support docs and training collaterals.

Often a product leads to changes in processes and people. The product manager has to think about a change management template.

Key Resources

Stating key resources is important as it allows a product manager to track them. This includes licenses (eg: SSL licenses as anybody can forget to renew on time like this, this and this), 3rd party platforms like SDK, analytics tools, etc.

Risks

State the known shortcomings and assumptions made. This helps plan the build-measure-learn better.

Product managers need to be paranoid about the product getting disrupted. Disruption Readiness is important to consider by identifying processes and methods that can be all be replaced in one go.

More

 


 

The Edge of Product Management: Talk at Institute of Product Leadership

Product Management Talk Institute of Product Leadership

I gave a talk to the students of Executive MBA at Institute of Product Leadership, Bangalore on 19th Nov 2016. It was a conversation around Product Management, industry practitioners approach to it and what’s new in this domain.

I also shared some new ideas I am toying around with and sought the feedback. It was a lively discussion.

SlideShare.net: http://www.ddiinnxx.com/slideshare-edge-product-management/

SpeakerDeck: http://www.ddiinnxx.com/speakerdeck-edge-product-management/

YouTube: https://www.youtube.com/watch?v=Qvp-I-vymp0


Shuhari – Learn – Digress – Transcend

Shuhari Learn - Digress Tanscend

Shuhari roughly translates to “first learn, then detach, and finally transcend.”

Yesterday November 26th I attended Converge Bangalore. It was a great event. Check out tweets with hashtag #ConvergeBangalore. This talk covered various ways we stay ahead to create solutions whose needs are just coming above the horizons.

I started off with talking how your software is NOT the product. However, when we put the Software in a context of  a Problem / Opportunity, identify / establish a Ecosystem, find a Product – Market Fit, identify the Early Adopters, Value Prop for Early Adopters and decide on the Success / Failure Metrics. Adding to this are Services that enable Adoption, Usability and the Ecosystem. This is when software takes form of a Product / Solution.

I often put is as:

Solution = (Software + Service) * Context

Shuhari

The talked about concept of Shu-ha-ri (Learn – Digress – Transcend) and linked it to the evolution of creating software to solution and propose what the next step will be.

Shu / Learn

  • Imbibe Rules
  • Follow Practices
  • Understand
  • Underlying Principles

Ha / Digress

  • Understand Vision
  • Bend Rules
  • Question
  • Underlying Principles

Ri / Transcend

  • Upgrade Vision
  • New Rules
  • New
  • Underlying Principles

Evolution of Product

While the day talked about moving from Software to Solution, I proposed that Solution was a Ha / Digress of Software. To Ri / Transcend, we should move to Working Business Model. This is the ultimate state of a software.

While Solution is beneficial for a client/customer, a Working Business Model is beneficial for the organization itself. Only a organization that can sustain itself can continue to provide solution.

Misc

SpeakerDeck: Shuhari – Learn – Digress – Transcend

SlideShare: Shuhari – Learn – Digress – Transcend

YouTube: https://www.youtube.com/embed/IIUqtds1G1w

Know more about Shuhari: ShuHaRi Japanese Learning System – Makigami Info

Also comments by Martin Fowler’s comments on Shuhari and this book: Agile Software Development: Alistair Cockburn

Product Development – A Primer for CxOs

Product Development Primer CxOs Cover

Product development thrives in an organization geared for Product Thinking. Else, the product development becomes a project governed by schedules & resource management, rather than being governed by MVPs, Product Backlog and Value delivered. Steven Sinofsky talks about impact of organization structures on Product in this blog. This Product Thinking must be adopted at all levels, including CxO. This is different than being hands-on with Product Development (which in itself is a topic of discussion). Role of a Product Manager (different than a Product Owner) becomes important and this article by Josh Elman is the right starting point for anyone wanting to understand Product Management.

Effective Product Development

Product Managers (ProMa) are the keepers of the vision and are expected to keep the developers, support, operations, marketing, sales, people champions and recruitment true to vision. This is a large responsibility and often leads to personal time management crunch & lots of meetings. Brandon Chu blogs about applying right leverage as ProMa is an inspirational piece on what to focus on.

Product Thinking

As organisations move from being IT to a Product Organization, one this they need to bring in is the Product Mindset, they need to manage the change very well. Seeing Products as way to deliver value to customers rather than a item of sale can help management with product thinking. Thinking of a Product as a whole entity like psychologist may do with a human and not as sub-systems and codes like a surgeon may see a human, does help developers and project managers start on path of Product Thinking.

Product Development How-To

Product Development is a well researched flow with some well documented methodologies. And of course, there is always room for dissatisfaction that precedes any innovation. While on methodologies, Marek Kirejczyk talks aboutHype Driven Development (everyone loves that latest hyped up tech/tools) and how to move away from it. There are many articles geared towards CxO on latest tech hype. Like this Insights article by Jim Highsmith and Neal Ford onMicroservices. by This 4-part Illustrated Guide to Product Development by Ben Einstein is a must see!

Thanks

With inputs from fellow ThoughtWorkers, Kartik Kannan, Kartik Rajan, Ramani Siva Prakash and Sachin Sapre.


Product Backlog

product-backlog-feature

I propose a method to build a Product Backlog, how to record a feature that has business value clearly quantified and how this fits into a project inception.

Introduction

Backlog Definition From Agile Alliance:

A backlog is a list of features or technical tasks which the team maintains and which, at a given moment, are known to be necessary and sufficient to complete a project or a release:

  • if an item on the backlog does not contribute to the project’s goal, it should be removed;
  • on the other hand, if at any time a task or feature becomes known that is considered necessary to the project, it should be added to the backlog.

These “necessary and sufficient” properties are assessed relative to the team’s state of knowledge at a particular moment; the backlog is expected to change throughout the project’s duration as the team gains knowledge.

The backlog is the primary point of entry for knowledge about requirements, and the single authoritative source defining the work to be done.

Not That Backlog

Various terms exist for a backlog being used in Agile development. Based on scope / tradition, terms Story Backlog, Feature Backlog, Epics Backlog, Development Backlog and at times Product Backlog too are used.

I will refer to these as Story Backlog so I can differentiate it with the Product backlog I am introducing in this write-up.

Story Backlog Definition From Mountain Goat Software:

The agile story backlog in Scrum is a prioritized features list, containing short descriptions of all functionality desired in the product. A typical Scrum backlog comprises the following different types of items:

  • Features
  • Bugs
  • Technical work
  • Knowledge acquisition

Story Backlog Definition From Atlassian:

A story backlog is a prioritized list of work for the development team that is derived from the roadmap and its requirements. The most important items are shown at the top of the story backlog so the team knows what to deliver first. The development team doesn’t work through the backlog at the product owner’s pace and the product owner isn’t pushing work to the development team. Instead, the development team pulls work from the story backlog as there is capacity for it, either continually (kanban) or by iteration (scrum).

Product Backlog

A Product Backlog is prioritized features list, containing short descriptions of all functionality desired in the product, with a business value for each feature clearly quantified along with source of the feature request / inspiration.

Product Backlog Card

A take at what a Product Card can look like:

ID
Theme / Module
Action – Expected Result / I want to – So That / Feature / Inception time Epic
Assumptions
Priority
Value Ranking
Success Metric (to judge value delivered)
Failure Metric (to trigger a re-learn / re-analyze)
Status
Source

I am still not sure if Priority would still make sense given that Value Ranking is there. The reason I have added it is because Priority represents the perspective on person who is creating this card and Value Ranking is a quantitative analysis based on weightage. Value Ranking is a kind of check on the ‘gut feel’ or ’emotional’ Priority.

I think Source is important. We should link back to the CRM entry, the social media post, a market study, email, etc that lead to creation of this. It is important to refer to that original content which can be referred to as-is in future and considered as ‘interpretation free’ source which a ProMa used.

Scoping Product Backlog Card

How much work is a feature? There are some questions that a ProMa should ask to give BAs, IMs, Dev a good idea of breadth of work involved. There is, always, more to a feature than just implementation. Look at the suggested list to get an idea what I mean here:

Time Is a GTM time identified?
If yes, date?
Collaterals Does it need marketing collaterals?
Does it need sales collaterals?
Does it need support collaterals?
Does it need user collaterals?
Change Management Does it need change in process?
Does it need change in people & behaviour?
Does it need change in how users interact?
Does it need change in tech?
Control Does it bring in regulatory & legal aspect?
Does it bring in un-handled regulatory & legal aspect?
Does it need extra/new licenses?
Does it get covered by existing licensing model?
Security & Safety Does it need extra security focus?

A yes on any of these, will affect the scope of work and for folks other than the Devs. It is important to look beyond the functionality during implementation.

Prioritizing Product Backlog

Quantifying Product Vision

A feature can be seen to provide / contribute to one or more of following values at various levels:

  • BAU
  • Strategic
  • Competitive
  • Collaborative
  • Revenue
  • Cost

Based on the vision, these six can be given various weightage.

Eg: 1/ A product like say ‘Am-Behind App’ is playing catch up on feature parity with competition, the weightage can be:

BAU           10%
Strategic     10%
Competitive   40%
Collaborative 10%
Revenue       20%
Cost          10%

 

2/ A product like say ‘Am-Expensive App’ is focused on reducing capex, the weightage can be:

BAU           10%
Strategic     10%
Competitive    5%
Collaborative  5%
Revenue       20%
Cost          50%

 

3/ A product like say ‘Want-2-Breakfree App’ is focused on growing by usual and innovative methods, the weightage can be:

BAU           25%
Strategic     30%
Competitive   40%
Collaborative  0%
Revenue        5%
Cost           0%

 

and so on. This given a quantitative representation to your product’s vision. This should not change too often. Changes to it will change the ‘value rank’ of a feature as we will see below.

However, it is expected to change given the Build-Measure-Learn nature of ProMa. The change will drive a new priority against which the Product Backlog can be re-prioritized.

Quantifying Value

Starting with asking some key questions around these vision directions.

BAU Does it address key market?
Does it add to the USP/ Key Value Prop
Strategic Does it open up new market / opportunity?
Does it offer significant competitive advantage?
Are early adopters identified?
Competitive Does it allow us to catch up with specific competition (eg: feature parity)?
Does it allow a ‘we-too-have-it’ comparison against specific competition?
Collaborative Does it help “free to use” ecosystem?
Does it help “paying to use” ecosystem?
Cost Does it bring cost benefit?
Revenue Does it enable potential revenue uplift?
Does it lead to revenue uplift indirectly?
Does it lead to revenue uplift directly?

The answers can be Yes or No and quantified as 1 or 0. A Yes will lead to a value of 1 * weightage. We can add up all the values and arrive at a value rank.

Eg: For the product ‘Want-2-Breakfree App’, a feature has been requested that allows it to address a similar need but in different domain. With this vision weightage:

BAU           25%
Strategic     30%
Competitive   40%
Collaborative  0%
Revenue        5%
Cost           0%

 

This is how feature analysis and value rank can look like:

BAU Does it address key market? Yes 25
Does it add to the USP/ Key Value Prop Yes 25
Strategic Does it open up new market / opportunity? No 0
Does it offer significant competitive advantage? Yes 30
Are early adopters identified? Yes 30
Competitive Does it allow us to catch up with specific competition (eg: feature parity)? Yes 40
Does it allow a ‘we-too-have-it’ comparison against specific competition? No 0
Collaborative Does it help “free to use” ecosystem? No 0
Does it help “paying to use” ecosystem? No 0
Cost Does it bring cost benefit? Yes 5
Revenue Does it enable potential revenue uplift? No 0
Does it lead to revenue uplift indirectly? Yes 0
Does it lead to revenue uplift directly? No 0
155

Now let us see for another feature. A feature has been requested that allows it to analyze the response via various marketing channels. This is how feature analysis and value rank can look like:

BAU Does it address key market? Yes 25
Does it add to the USP/ Key Value Prop Yes 25
Strategic Does it open up new market / opportunity? Yes 30
Does it offer significant competitive advantage? Yes 30
Are early adopters identified? Yes 30
Competitive Does it allow us to catch up with specific competition (eg: feature parity)? Yes 40
Does it allow a ‘we-too-have-it’ comparison against specific competition? No 0
Collaborative Does it help “free to use” ecosystem? No 0
Does it help “paying to use” ecosystem? No 0
Cost Does it bring cost benefit? Yes 5
Revenue Does it enable potential revenue uplift? Yes 0
Does it lead to revenue uplift indirectly? Yes 0
Does it lead to revenue uplift directly? No 0
185

So, the later feature should be prioritized higher in the Product Backlog.

Product Backlog and Inceptions

How does a Product Backlog fit into our Inception? Here is my earlier blog post on this: Product Management During Project Inception

Summary:

product-management-role-project-inception-feature
Product Management Role in Project Inception Feature

Never Alone

This started with a lunch time discussion with Sriram Narayan few months back. It got re-triggered by a question by Kartik Kannan “How do ProMa figure in Inception Process?” Thanks to Priyanka Kapur and Anantpal Singh Saluja who became first user of this method while creating a pitch for a client.