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Glossary

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AI Builder

Microsoft AI Builder is a low-code AI development platform. It enables businesses and organizations to create custom artificial intelligence (AI) models without extensive coding skills.

Acceptance Criteria

Acceptance criteria (AC) means a collection of predefined requirements that a software product needs to fulfill to be admitted by the end-user. They define the characteristic behavior from the end-user perspective and are different for every user story. Skillfully written acceptance criteria guarantee that all users are satisfied with what they get and avoid unexpected outcomes at the end of a developing stage. The related AC must be established before the development team starts working on a specific user story. If not, there is a fair chance the deliverables will not satisfy the customer's expectations and requirements.

Adaptive Program Management

It is crucial to have a systematic approach to program management as a business. Adaptive program management is one such approach and framework that helps businesses create successful programs, projects, and much more. Every business in the program and project management industry must be familiar with this term. If you are looking to know more about adaptive program management, you are in the right place. Here is everything you must know.

Adaptive Project Management

<!-- wp:paragraph --> <p>Adapting to new markets and evolving with them is the key to success for businesses in the modern world. Traditional approaches to project management are not outdated. That is why it is crucial to keep up with processes such as adaptive project management.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>If you are in the project management industry, here is what you must know about this approach.</p> <!-- /wp:paragraph -->

Adaptive Project Management Framework

An adaptive approach to anything is all about results rather than the activity involved. A result-based approach emphasizes iterations, reviews, and relevant changes for the next iteration. So, if you want a framework for your project management, the adaptive project management framework is ideal. It allows teams to enhance the projects and maximize the results in no time. Here is everything you must know about this framework.

Adaptive Software Development

Adaptive Software Development (ASD) is a plain product of the early elegant framework, known as Rapid Application Development (RAD). Its purpose is to enable teams to quickly and effectively adapt to changing needs or market demands, develop their products through lightweight initiatives and continuous learning. ASD argues that when it comes to complex software projects, the right way to succeed is to keep learning while not sticking to rigid plans. By their nature, adaptive software development works best when an organization can adequately prioritize rapid product delivery. ASD was developed in recognition of its origins—the Rapid Application Development (RAD) was outdated due to its mechanical and highly linear approach.

Affinity Grouping

Affinity grouping is a method of grouping non-numeric data based on a common similarity. It may sound not very easy, but the core of this technique is simple and very intuitive. Brainstorm with team members, organize ideas into thematic groups and clusters. Affinity grouping typically works in conjunction with collaboration prioritization, where later the company sets up a few "affinity groups," the team votes on the priority of each group. This activity resulted in a well-organized, high-priority list of ideas for the team. For example, a team member may be brainstorming ways to increase user satisfaction or seeking new revenue streams for their company.

Agile Definition

The key to surviving in the business world is to adapt to new ways of working and incorporate them into your industry. The project and product management industry is growing day by day. That means people must keep up and find the best work methods to enhance their performance. That is what an agile way of working is all about. Here is everything you must know about it to improve your performance.

Agile Framework

There are many processes teams can utilize to fulfill the goals of product and software development. Of course, each process has its own history, benefits, and principles. The agile framework is one such process that allows product development teams to fulfill their goals in no time. If you want to know more about the agile framework and apply it to your product, you have come to the right place. Here is everything you must know about it.

Agile Manifesto

The Agile Manifesto is a statement of agile software development's fundamental principles and values. The Agile manifesto Software Development, as it is officially known, attempts to provide a more effective model for organizations to successfully adopt the Agile project management approach and apply it to better their work process. The Agile Manifesto's lightweight architecture was created to improve existing software development procedures that were more complex and involved much documentation. The founders made these processes faster and built a more efficient teamwork approach. The Agile Manifesto is a software development methodology that substitutes traditional software development approaches.

Agile Product Owner

Agile working environments are nothing without the people that make these environments. Many people are responsible for various things that will take product development to the next level. The primary aim is to guarantee that the team offers maximum value to the business. The agile product owner is one of the most critical stakeholders in the product development process. Here is everything you know about it.

Agile Transformation

Transforming a whole organization to a flexible, reactive approach based on agile methodology is known as agile Transformation. Agile Transformation is primarily concerned with organizing teams, building backlogs, and routinely producing working, tested software. Essential considerations are forming remote team networks, managing trade-offs, managing dependencies, getting goods to market rapidly, and measuring throughput rather than effectiveness at scale. The work of the Transformation is to remove the barriers that stand in the way of attaining these objectives. Some people can adapt to change, but most firms are unaware of what change is required. So, agile Transformation helps them.

Agile Values

Agile software and product development are some of the top aspects of the product management industry. The Agile Manifesto guides the entire process to help leaders and teams. It is a concise document that states four values and twelve principles essential for agile software and product development. So, if you are looking to know more about agile values, you are in the right place. Here is a complete guide to the values.

Agility

Agility is defined as enterprise culture, leadership, strategy, and management agility, adding value to all stakeholders. Agility practices the laws of agile improvement to the entire organization. It empowers companies to react more to improve, accelerate time to business, and decrease costs without losing quality—agile development and utilization of short development cycle and minimal overhead to promote rapid iteration. And frequent improvement of products. While agile principles involve short-term strategies, natural business agility extends this way of thinking across the organization. Organizations applying company agility can instantly respond to possibilities and warnings in the marketplace while continuing customer-centric.

Annual Recurring Revenue

The revenue amount that a company estimates to earn each year is referred to as ARR. The subscription model's very significant element is recurring revenue. Annual Recurring Revenue provides a year-over-year comparison of the business's performance. One of the most significant KPIs for subscription and SaaS organizations is the annual revenue retention rate (ARR), which helps estimate income for the future year. Annual recurring revenue can also be used to track a company's growth and calculate customer retention. It's crucial to keep in mind that ARR is ongoing revenue. Any one-time fees or charges associated with a company's services or products should be excluded when calculating ARR.

Application Portfolio Management

The most common problem enterprise organizations share is that individuals buy software to solve issues. However, they realize that the software is only a temporary fix, and after that, they forget about it or use it once in a blue moon. Because of this, the IT teams are overburdened as they have to keep track of hundreds of applications at a time. The process of keeping track of this is known as application portfolio management. Here is what you must know about it.

Azure Boards

Azure Boards is a web-based project management tool that is part of the larger Azure DevOps Services suite.  It provides teams with a centralized hub for managing work items, tracking project progress, and collaborating with stakeholders.

Azure DevOps

Azure DevOps is a cloud-based platform that provides a set of tools and services to help software development teams plan, build, test, and deploy their applications with ease. At its core, Azure DevOps is designed to help teams work more collaboratively and efficiently, regardless of their size or development methodology.

Backlog

A backlog is a listing of the tasks needed to maintain a larger strategic plan. A backlog is a collection of work that must be completed. The word "backlog" is often used in accounting and finance. One of the essential factors that make the backlog meaningful is the highlighted items. The product team agrees to take the next step in these projects. Typical items in the product backlog are user stories, changes to existing features, bug fixes. A product backlog is a list of activities that a team may provide to achieve a specific outcome, such as new features, changes to existing features, bug fixes, or infrastructure changes.

Backlog Grooming

In product and software development, teams must meet regularly and collaborate. It allows them to tweak strategies, work on the product, and focus on outcomes. Backlog grooming is also an essential process of product and software development. It involves vital team stakeholders and guarantees positive outcomes. Here is everything you must know about backlog grooming.

Baseline

A baseline for project management is the starting point for a clearly defined project plan. It is a fixed reference point for measuring and comparing the progress of a company's projects. It allows them to evaluate how well their project performs over time. The project baseline is the completion period, percentage, or other measurement units. During the project initiation phase, the baseline planning transforms the project proposal into a preliminary project plan. To create a project baseline, the project manager works with key stakeholders to approve the scope, time, and budget and enter into agreements.

Beta Test

The Beta test refers to providing the end-user with the software product intent to test it. In beta testing, the actual user uses the software product for a specified period and indicates bugs, issues, and errors. The software companies distribute their product to the user before releasing it for public use. If the user finds any problems in the software, it is sent back to production, and all the errors are resolved. The beta test is done again unless the product becomes flawless.

Beta Version

An incomplete version of the software, having major features but is not stable enough to be released to the general public. It is mainly intended for beta testing. The Beta Version of a software product is given to the product's end-users with an intent to test it and improve it as much as possible. The beta version is either released only for particular and selected users or the general users. It usually has a message saying Beta to let the user know that this is not the final release. Once the beta testers are satisfied with a product's beta version, the product is completely developed and ready for the final release.

Burndown chart

A burndown chart is a graphical representation of work remaining in a project versus time. It provides a clear and concise way to visualize how much work is left to be completed in a specific timeframe. This chart typically has two axes: the vertical axis represents the amount of work, often measured in story points, tasks, or work items, while the horizontal axis represents time, divided into iterations or time intervals, such as days, weeks, or sprints.

Business Case

The business case is a document that explains how a project's benefits overcome its cost and why it should be executed. The business case document is created during the project initiation phase to give different stakeholders the reasons to invest in a particular project. It contains the financial appraisals, proposal, strategy and marketing plan. Using this document, you can present your project to other stakeholders and convince them to invest in your project. If all the stakeholders approve your business case, your project can go to the next phase.

Business Model Canvas

A Business Model Canvas is a short but comprehensive chart that provides essential details of getting a product or service into the market. The contents of this generally one pager report vary according to the nature of the business and segment of the market that is to be targeted. It is more of a visual tool that was first introduced by Alexander Osterwalder in 2005. Its first version was derived from his professional works in the field of ontology. Since its introduction, the tool has been modified and altered according to the changing business needs and preferences.

Business Roadmap

A business roadmap is a visual representation of a company’s future plan of action. It outlines the direction it is headed and the strategies it will follow to achieve the set goals and objectives. A business roadmap is a very useful organizational tool that is not just beneficial for internal stakeholders but also for external ones. Following a top-down perspective, it can provide critical details about the company’s future plans. If considered on a smaller project scale, the business roadmap will help outline the project deliverables and the activities needed to reach the outcomes. It is a great tool for tracking progress and keeping a watch on what the company is doing.

Business Transformation

Business transformation is a parasol term that encompasses the need for changing an organization’s way of doing business. The transformation may occur because of internal or external stimuli. It may include any aspect of an organization like human resources, functional activities and processes, and technology of operations. Business transformation is not a short-term activity. It can take weeks, months, and even years to complete. The transformation can enable a company to effectively improve its competitiveness, enhance efficiency and grow strategically. Business transformation is different from regular incremental advances and progress made by an entity. They are mostly bold and broad-spectrum.

Buyer Persona

Based on data and surveys, buyer Persona is a semi-virtual representation of a company's ideal customer. This persona helps Product Managers spend time with qualified leads, develop products that meet their target customer needs and orchestrate operations across the organization, from marketing to sales and service. As a result, Product Managers can attract valuable visitors, leads, and customers to their business and retain them for long periods of time. More particularly, a broad knowledge of buyer personas is vital in promoting all activities related to customer acquisition and maintenance, including sales follow-up, product development, and content creation.

Change Management

Change management is a precise approach to addressing organizational processes, goals, changes and, technology transitions. Change management aims to implement strategies to bring about change, control change, and adapt people to change. Such strategies involve structured procedures to inquire about mechanisms and changes to follow up on requests. The change management process should consider how adjustments and alternates affect the organization's systems, employees, and processes. Processes are needed to plan and test the changes, communicate the changes, schedule and implement them, document them, and evaluate their effectiveness.

Chief Product Officer/CPO

The Chief Product Officer (CPO) is liable for the Product Distribution and the end-to-end reliability of the product portfolio. The Chief Product Officer is a strategic leader, visionary, team supervisor, and supporter of an organization's product (or product). CPO's primary goal is to lead and promote the creation of products that deliver value to both customers and businesses. CPOs are also known as the Vice President of Products and Vice President of Products. CPOs are accountable for managing the complete production processes of technology firms, including policy, modification, control, and marketing.

Churn

Churn measures the percentage of accounts that have chosen not to Churn or renew their contracts. A high Churn rate can wreck a company's Monthly Recurring Revenue (MRR) and show objection with company product or co-operation. It is also the percentage of employees leaving the company within a certain period. The churning time shows how many clients have ceased utilizing the product. Based on current usage and crash to restore (if the product is sold in the subscription model). It is often evaluated over a specific period, with monthly, quarterly, and yearly Churn rates.

Collaborative Work Management

As its name refers, Collaborative Work Management is a way of working in a team to achieve a particular goal or create something. The term can be divided into two parts: Collaborative: Working with a group of people to create something Work Management: Organizing and managing the work. It is a set of tools that allow teams to easily share work-related data, documents and conduct meetings. It serves as a platform for all the conversations related to business. The team members can easily communicate any issues, even if they are in different locations.

Competitive Landscape

A Competitive Landscape is a list of choices your customers have other than your product. It includes your competitors' products and services. It is the complete description of your competitors' position in the market and helps identify their product offerings, marketing strategies, and social media content. Competitive Landscape is vital to improve your marketing strategies, products, and services. It also lets you know your competitors' major strengths and weaknesses. Through this, you get an idea about what your rivals are doing and what you need to do to beat their product in the market.

Confluence

Confluence is a powerful tool for collaboration that many organizations use to improve teamwork and productivity.  At its core, it is a content management system that allows teams to create, share, and collaborate on documents, ideas, and information in one central location.

Continuous Delivery

This terminology is mostly used in the software development industry. It refers to the efficacious implementation of the continuous deployment process. Continuous deployment is the process of reducing the time gap between writing a code for software and releasing it live. Continuous Delivery or CD is an underlying approach of software development that involves creating the software successfully in shorter cycles and small batches.

Cost of Delay

Cost of Delay is a method to understand and share the effects of time on prediction results. It provides companies with a way to calculate and compare the costs of choosing to complete a project or function later without completing it. In general, the meaning of deferred costs is precisely what the term implies. It means the loss or postponement of benefit or value due to delay. For example, a person left home 15 minutes late. This delay causes him to be stuck in traffic for over an hour, making him late for an important meeting. He might imagine the cost of this day's delay.

Cross-Functional Team

A cross-functional team is a collection of people from different backgrounds that work together to accomplish a single goal. Typically, it involves employees from all organizational levels. Members from several departments or areas of competence collaborate in cross-functional teams. Members of a cross-functional team may be of varying levels of seniority. It may also be able to make crucial decisions by itself. For example, a project team plans to the CEO instead of going through the usual approval process. While cross-functional teams are currently all the rage, they are nothing new.

Customer Advisory Board

A customer advisory board is a group of carefully selected customers who help in obtaining valuable market insights. They meet up on regular basis to provide their advisory to the organization and share their customer experiences.

Customer Experience

Great customer experience requires great efforts from a business in order to ensure that every stage of a customer journey is oriented the way customers want. Or Customer experience is set by all the interactions customer encounters during all the stages from pre-purchase to consumption/post-purchase. Over time, customer experience has become a lot more crucial for business sustainability and long-term growth.

Customer Feedback

Customer Feedback is information, insights, issues, and opinions that the community shares about its experience with the products and services of the company. This feedback is a guide to improving the customer experience, and even negative feedback (especially) can make a positive difference to your business. Customer Feedback is information that customers provide about their experience with company products and services. The goal is to help company development, customer success, and marketing teams understand where there is room for improvement. The product team can also passively collect feedback by providing a place where users can share comments, complaints, and compliments.

Customer Feedback Loop

The Customer Feedback Loop is one of the most effective ways to improve products and services based on customer satisfaction. The feedback loop can enhance the service provided by constantly collecting, learning, and applying user suggestions. A customer feedback loop is a plan for steadily developing outcomes based on the ideas and opinions of users. That means the company will respond when clients leave feedback. It is based on a naturally repeated pattern called "reciprocal causal relationship," in which the actions of both entities influence each other. Customer Feedback Loop collects customer insights, cycles them internally, calls them into action, and gets them to know what they are doing to benefit and get more value from the products and services they offer.

Customer Feedback Portal

The Customer Feedback Portal is an app, widget, or website that allows companies to provide business feedback at any time. The primary use of the idea portal is to have external users provide feedback, but it can also be used to manage all feedback from other sources. Just write down company feedback and enter it in the portal. On the other hand, the feedback portal must be easy to find and use at any time. The ideal portal is an external website where users can log in and leave ideas for feature suggestions, product improvements, or general feedback in short notes.

Customer Journey Map

The Customer Journey Map is visual storytelling of all the company's events with its services, brands, and products. By creating a journey map, the company can directly touch the consumer's heart and know what is missing, what is right, and where to improve in the customer's lifecycle. The company can also share its customer's experience with all touchpoints. The planning team applies a customer journey map to understand how the client sense satisfies client expectations and recognize regions where the plan requires development.

Customer Research

Customer Research is to simplify the decisions, emotions, urges, and purchasing behavior of the target customer. We collect information using various methods, identify common characteristics of different customer groups, classify them into customer segments and buyer personas, and conduct marketing campaigns targeting specific segments and personas. As part of a market survey, a customer survey reveals target customers' trends, motivations, and purchasing behavior—customer Research aid companies and businesses in realizing customer psychology and performing comprehensive purchasing behavior profiles.

Customer Validation

Customer validation is a significant action in the product improvement process, the steps needed to get the product from idea to market. At this stage, Company validates assumptions and hypotheses about customer issues, target markets, and products. The findings obtained during the verification phase are used to develop the product and find appropriate market suitability repeatedly. Verification also opens the way for people to connect products with viable prospects and build meaningful products they need. Customer discovery was about knowing who the customer was and how to reach them.

Definition Of Done

The process of product and software development is not linear. That is because you keep using feedback to tweak the product for the end-users. Because of this, it can be challenging to define a point where you need to get to be successful. All product managers must agree on the Definition of Done (DoD) to achieve consensus on initiatives, projects, and features. Here is a complete dive into DoD.

Definition Of Ready

The agile scrum framework includes many terms and processes you must be familiar with. These will help you create better solutions for the entire team as they focus on product development. The definition of ready (DoR) is an important parameter to set before a sprint takes place. It will clear confusion between team members and guarantee that everyone is on the same page. Here is everything you must know about the DoR.

Demand Management

The supply chain and supplier relationships are important aspects of any business. It helps businesses fulfill customer requirements while ensuring the optimization of the processes. Such requirements can't be fulfilled without successful demand management. Here is what you must know about it.

Dependency

Dependency describes the relationships between activities and specifies the order in which they must be executed. Dependencies happen in all decision-making, preparation, and expansion processes and are ideally pre-determined. Tasks may be successors or predecessors to other tasks so that the moment of each execution can be adjusted accordingly. Dependency in project management is the management and scheduling of tasks while considering the order and requirements of project tasks. Task B requires Task A to complete; Task B says it depends on the task. A dependency occurs when it does not work without the help of someone or something.

Design Thinking

What if a product or a solution were not just standard templated ones but were thought through to suit what you wanted as a user? What if you were the center of all the efforts that go on in designing the product or solution? Design Thinking is an approach to problem-solving, product and solution design, and innovation that is more human-centric and focuses on problems or needs from the user's perspective. This approach creates iterations in the design process. It follows a creative and innovative framework to arrive at solutions that fully understand the problem and consider the end-user's actual needs, pain points, and potential gains.

DevOps

DevOps combines techniques, tools, and educational aspects for automating and integrating software expansion and IT teams. It focuses on team empowerment, communication and collaboration, and technology automation. Quickly put, DevOps eliminates the limits between the development and operations teams that were traditionally siloed. Development and operations teams work collaboratively throughout the software application lifecycle in the DevOps model, from development to testing, deployment, and operation.

Digital Product Manager

Digital products are software goods or services that are intangible and exist in the digital world. These products can include digital media, music, internet television, mobile applications, cloud-based software and services, or even a non-digital product with digital technologies. A digital product manager oversees the entire life cycle from its inception to when it hits the market by integrating analysis, business models, coordination, and design thinking into digital product management.

Digital Transformation

According to Mckinsey & Co report published on October 5, 2020, the present worldwide pandemic has caused 58 % of customer interactions to become digital, up from 36 % the prior year. The process of employing digital technology to build new or adapt current to business processes, culture, and customer experiences to satisfy changing business and market requirements is known as digital transformation. Moving away from the traditional data siloes to a more connected coordinated, and transparent business process is the backbone of digital transformation.

Eisenhower Matrix

It is a significant production and time management framework designed to help product managers prioritize agenda items or tasks. Its urgency and importance first classify it. This method is also known as the Eisenhower decision matrix, the Eisenhower box, or the emergency-importance matrix. It consists of drawing a square box whose X-axis indicates an emergency, and non-emergency and Y-axis indicates essential and non-important. Then combine the items listed in one of the four boxes, the emergency and key box in the top left corner that requires quick action.

Engineering Backlog

Engineering backlog lists the tasks that are prioritized for the development team to execute in the next sprints. Some organizations use this term to present a backlog where the product owner breaks user stories or epics into specific engineering tasks. Similarly, some organizations use engineering backlog as a specific document that contains a list of defects and bugs in the product yet to be fixed. In short, you will find different definitions of engineering backlog in different agile organizations.

Enterprise Architecture Planning

Enterprise Architecture planning is a blueprint that defines the use of IT infrastructure and information systems to achieve business strategies and objectives. It is a top-down approach clearly explaining the processes, information components, applications, and technology platforms that need to be implemented within different Enterprise Architecture frameworks to help accomplish targeted business outcomes while staying abreast of industry developments and disruptions.

Enterprise Architecture Roadmap

An Enterprise Architecture Roadmap is the visual representation of the sequence of steps taken to transition from the current architecture to the desired architecture. The Enterprise Architecture Roadmap is a tangible deliverable that illustrates what needs to be accomplished and when, so it is ideal for enterprise architects looking for a diagram that will excite stakeholders and managers at all levels.

Epic

An epic is a collection of user stories that have a common strategic goal in agile development. When numerous epics share an exact purpose, they are grouped around a motif, a still-broader commercial objective. Another significant contrast is that a user story may be finished within an agile sprint's duration. An epic usually requires numerous sprints of development work. Based on the requirements of customers or end-users, an agile epic is a piece of work that may be broken down into discrete tasks (called user stories). For DevOps and agile teams, epics are a crucial technique.

Feature

A trait or attribute that provides value to end-users and classifies a product to the market is product features. A device's battery life can be termed a feature. In the same way, a suitcase's fabric or other qualities can change. A product feature might comprise any of the Product's capabilities, functionalities, and visual attributes. In other words, a product feature's primary characteristic should be its power to offer value or advantage to the end-users. There are numerous points of view on this, but product features can play a significant part in the product roadmap if those capabilities meet specific requirements.

Feature Flag

In the world of software and product development, it is all about speed. That is because the world and technology are rapidly changing, and businesses need to keep up with it. Feature updates, bug fixes, UI changes, and much more are done in real-time.

Feature-less Roadmap

A roadmap that focuses on outcomes rather than the features is referred to as a Feature-less Roadmap. It is a strategic blueprint. When a product team follows a feature-less roadmap instead of a product roadmap, it can deliver a valuable product for customers that also support the company's goals. When the features are taken out from a roadmap, it reflects the customer experience in one way or another.

Feedback

Feedback is a possibility that happens when the outcome of a system is used as input to the system and is part of the causal chain. It changes the variables in the system, resulting in different outputs and, therefore, different feedbacks, which may be good or bad. Customer feedback is a collection of criticisms a product, service, or brand receives from users and customers. This criticism can be positive or negative because both are useful to business. Customer feedback can also be collected in both active and passive ways.

Fibonacci Estimation

Estimates have tendencies of being wrong. You might have gotten many inaccurate estimates over the course of your business. However, accurate estimates are a requirement for product and project management. Thanks to intelligent developers in an agile environment, the estimation process is now highly accurate. That is done through the Fibonacci estimation. Here is what you must know about it.

Gantt Chart

Gantt Chart is the most popular and practical means of describing activities (tasks or events) demonstrated against time. A Gantt Chart assists project managers and team members in viewing the start dates, end dates, and milestones of project schedules in one simple stacked bar chart. The schedule of the projects is present on the left side of the Chart, and an appropriate time scale along the top. Every effort is shown by a bar; the position & length of the bar indicate the start & end date of the project.

Go-To-Market Strategy

Marketing strategies are always ongoing as the landscape keeps on changing. However, the go-to-market strategy is all about focusing on how you will launch your next event. Here is what you must know about the go-to-market strategy.

Go-to-Market

A GTM strategy is a tactical work plan that outlines the steps essential for succeeding in a new market. It can be used to launch new products and services, renovate a company, or even bring current products to new markets. A simple way to think of it is a more specific version of a marketing plan with a restricted scope and hyper-focused on just one product. Similar to any good strategy, it is a tool that can be utilized and shared across a whole company. It means the GTM strategy needs to be broad enough to be worthy yet flexible enough to be updated as we get end-user feedback.

Growth Product Manager

All departments and individuals within the business are always working towards improving the organization. But, of course, the primary aim of a Growth Product Manager is to help the company succeed. Here is the complete guide to understanding their role in the organization.

Halo effect

The halo effect (or generalization effect) manifests when positive attributes or accomplishments of an individual, team, or project overshadow other aspects, leading to biased perceptions and judgments.

Hammock activity

In project management, a hammock activity is a grouping mechanism that summarizes or aggregates multiple related activities under a single, high-level task.  Unlike regular activities, this aggregate activity does not represent physical work but acts as a way to monitor and control specific aspects of a project.

Handover process

The handover process is a structured approach that ensures the transfer of knowledge, responsibilities, and deliverables between project phases, teams, or stakeholders.  Facilitating clear communication and coordination ensures a seamless continuation of project activities.

Hierarchy

Hierarchy refers to the structure that defines the relationships, levels of authority, and responsibilities within an organization's project and portfolio management framework.  It establishes clear lines of communication, decision-making processes, and accountability throughout the PPM lifecycle.

High-level estimation

High-level estimation, or top-down estimation, is an initial assessment of project requirements and constraints performed during the early stages of project planning.  It involves making rough approximations based on limited information and is typically conducted before a detailed project plan is developed.

Hindsight bias

Hindsight bias, also known as the "I knew it all along" effect, is a psychological phenomenon wherein individuals perceive past events as more predictable than they were at the time.  It stems from the desire to create a sense of order and coherence in uncertainty.

Historical data

Historical data refers to the collection of past information, records, and data points that document events, activities, and outcomes over a specific period. It provides a reference point for analyzing trends, patterns, and performance to inform decision-making, improve future outcomes, and drive continuous improvement in various fields.

Hotspot analysis

Hotspot analysis is a data-driven technique to identify and prioritize critical areas or "hotspots" in a project.  These hotspots can be areas of high risk, inefficiencies, bottlenecks, or opportunities that require immediate attention.

Human resource management

Human resource management (HRM) is a strategic approach that focuses on managing the organization's human capital to optimize performance and achieve goals. HRM encompasses various processes: recruitment, selection, training and development, performance management, compensation and benefits, and employee relations.

Hybrid project management

Hybrid project management (or integrated project management) is an innovative methodology that blends traditional project management practices with agile principles.  It offers a flexible framework that allows project teams to tailor their approach according to the unique characteristics and requirements of each project.

ICE Model

The ICE model is one such framework. ICE is an acronym for visions, associations, and attachments. This model was first introduced in 1996 by Wilson as "an effort to condense the literature of cognitive transformation." Fostaty Young and Wilson have further developed to define three main stages of learning growth, from beginner to ability to expertise. ICE Scoring Model is an elegant prioritization mechanism that estimates tasks, ideas, and features on three scales. The ICE scoring model is an elegant prioritization mechanism that estimates tasks, ideas, and features in three metrics: influence, reliability, and comfort.

ICE Prioritization

ICE stands for Impact, Confidence, and Ease. This prioritization method was initially developed to prioritize growth experiments, but its simplicity has made it popular for all projects. The ICE approach enables the creation of new products and MVPs or prioritizes feature requests, marketing, and sales activities. The ICE framework may be a considerably suitable framework for rising and optimizing time to import, designer ROI, user retention, maximizing funnel, and more. This framework provides a quick way for teams to prioritize their efforts and maintain momentum. In addition, ICE can quickly gain consensus across the team without over-analyzing, preventing analytic paralysis.

IT Product Management

IT product management implies managing all stages of the software product lifecycle, including setting strategy, roadmap, feature definition, development stages, launch, etc. Most of the stages in IT product management are similar to traditional product management, but overall, it requires product managers to be more flexible. It is because IT projects are required to frequently adapt the product roadmap and reprioritize items/tasks based on iterative feedback from stakeholders and customers.

Ideal Customer Profile (ICP)

Knowing your customers and user base is one of the most important steps for success. It allows the organization to provide accurate solutions to users that offer value and high satisfaction. Besides that, it also enables the business to boost customer experience and personalization. The Ideal Customer Profile (ICP) is a critical component that helps organizations to understand their users better. Here is what you must know about it.

Ideation

Free thinking is crucial to any business if they want to create a culture of innovation and creativity. Organizations must use various methods to uncover new ideas and boost the product development process. It helps solve any development issues and overcome market challenges. Ideation is one such method that helps organizations create an open and creative environment. If you are looking to optimize your product development process, you are in the right place. Here is what you must know about ideation.

Impact Mapping

Impact mapping is a light cooperative planning approach for teams that desire to impact software products significantly. It is based on user interaction design, result-driven planning, and a thought guide. An impact map is a way to help a company unify the overall business picture with its goals and what it needs to build to achieve those goals and create a work strategy around it. Impact mapping is one of these significant contributions to agile methodology and is now widely used by product, innovation, and business managers worldwide. Gojko Adzic introduced the Impact Map in 2012 in his book The Impact Map.

Infrastructure as code

Infrastructure as Code, often abbreviated as IaC, is a methodology that enables teams to manage and provision infrastructure using code rather than manual processes or traditional graphical interfaces.  In essence, IaC treats infrastructure components, such as servers, networks, and databases, as code artifacts.

Initiative

In every company, the journey to developing a product starts with a concise vision. You have plans for the future and believe in achieving them in different ways. Once you develop a strategy, you have to implement various things to accomplish success. That is where the role of initiatives comes. Here is a complete guide that will help you understand it.

Integrated Portfolio Management

In the last decade, we have seen the emergence of many new IT processes. These are there to help the IT sector and teams to evolve and meet all the organization's needs in no time. However, with so many new processes and elements, businesses face the challenge of process integration. Integrated portfolio management is one solution that can help organizations. Here is what you need to know about it.

Interaction Roadmap

Interaction Roadmap is the most suitable technique in strategies presuming and project management. Interaction Roadmap is a considerable adequate approach for system planning. By scrutinizing the disposition of projects, the Project Manager recognizes that projects have complicated systems' characteristics. Hence, it is analytical to say Interaction Roadmap is the most promising approach toward project planning. If the Project Manager resembles this description with the intention of systems as “a set of inter-related commodities of which no subset is inapplicable to any other subset," viewing projects as complicated systems would not be an immoral practice.

Iteration

In all companies, various individuals and departments collaborate to ensure a project runs smoothly. However, many other things, such as iterations, helps in product management as well. If you’re looking to learn more about the role of iterations in product development, you’ve come to the right place. Here is everything you need to know about it.

Iteration Canvas

In agile software development, iteration is reserved for a specific time for development. Typical iterations last 1-2 weeks; however, some iteration may be as long as four weeks. Most agile development teams agree on the length of their iterations and continue to operate on an iterative basis. As the business model evolves from the present to the future, the Company must update its canvas to reflect this evolution. There are many ways to keep its canvas moving forward and keep each iteration for later review.

Iteration Roadmap

Iteration roadmap is a method in which iteration is a test, fixed-length time span, and the energetic team performs incremental rate in terms of work, checked software, and operations. The recommended length of the time frame is two weeks. But, one to four weeks is fair, based on the business environment. Iterations provide the team with a regular, predictable rhythm to generate incremental value and refine the value previously developed. The road map is a vital program that establishes a goal or wanted outcome and covers the main steps or milestones required to reach that goal. It is also a communication tool, a high-level document that helps articulate strategic thinking about why a firm wants to achieve goals and plans.

Jira Advanced Roadmaps

Jira Advanced Roadmaps is a software tool designed to help teams plan and manage their projects.  With Jira Advanced Roadmaps, teams can create detailed plans, set goals, and track progress in real-time.

Jira Align

Jira Align is a comprehensive enterprise agility platform that helps organizations align their strategies, processes, and people.  At its core, it provides a holistic view of the organization's performance, allowing leaders to make data-driven decisions and adapt to changing market conditions.

Jira Product Discovery

Jira Product Discovery is a feature within the Jira platform that helps product teams identify and solve the right problems, generate new ideas, and validate them with real users.  It provides a structured framework for product discovery that allows teams to streamline their process, reduce waste, and increase the chances of delivering successful products.

Jira Service Management

Jira Service Management is designed to help businesses improve their customer service and support.  It offers a user-friendly interface that allows support teams to quickly and easily manage service requests, track customer issues, and resolve problems.

Jira Software

Jira is a web-based application that allows teams to create and track issues and tasks related to their projects. It was originally developed by Atlassian in 2002.  It offers a wide range of features, including project management, bug, issue, time tracking, and workflow management.

Jira Work Management

Jira Work Management is a project management tool developed by Atlassian.  It's designed to help non-tech teams organize their work, collaborate more efficiently, and achieve their goals faster.

KPI / Key Performance Indicator

Key Performance Indicator (KPI) is a quantifiable measure meant to evaluate the performance of an organization or employees over time for meeting a specific objective. Organizations deploy KPIs frequently to measure their progress and success towards achieving the key business objectives. There can be customer KPIs to monitor the new customers' flow or financial KPIs to monitor profit or revenue targets, etc. Some of the examples of KPIs include growing revenue by 10% per quarter, improving Net Promoter Score (NPS), bringing down customer acquisition cost, etc.

Kanban Board

The Kanban board is an important visualization tool for introducing Kanban into firm business. The Kanban board is practiced by everyone in the team who applies Kanban to visually maintain their work and advance the delivery of products and co-operations in terms of predictability, feature, and time-to-market execution. Kanban boards are versatile project supervision tools devised to manage product managers to consider work, perform the purpose of the process, and maximize performance (or flow). The agile and DevOps teams can improve the product manager's organized order in his daily work. The Kanban Board accepts cards, columns, and constant advances to help technology and service teams perform the right amount of work.

Kanban Roadmap

The Kanban Roadmap helps product managers leverage the Kanban Expression methodology for strategic planning. In the Kanban method, we classify the effort into distinct buckets such as "planned," "in progress," "completed," and "blocked." This approach to product roadmaps allows product teams to capture product strategies in a broad, long-term context. The Kanban roadmap is a great way to track functionality across the entire discovery and delivery lifecycle. This roadmap organizes features by status. The roadmap captures and communicates high-level strategies, and Kanban is a task-oriented approach.

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MPP File Extension

An MPP file is a file extension created by Microsoft and broadly used in the MS Project product family – a solution for creating, scheduling, organizing, coordinating, and maintaining projects.

Market Penetration Strategy

Market Penetration Strategy refers to calculating the total percentage of how much the consumer is using a product/service compared to the total market share of that product. It is a way of determining the size of the current market. If the market for a particular product or service is large, the chances for any new product to get the market share are more. By using the market penetration strategy, the companies get an idea about the percentage of the customers of a product.

Market Share

Market share is the ratio of total sales developed by a company in an industry. Market share is figured by dividing the company's deals by the industry's whole deals simultaneously. Market share, very merely, is the rate of outcome, service, or software in a specific area, estimated by deals. Market share is a vital indicator that a business can evaluate the efficacy of any conceivable revenue-generating action, such as marketing campaigns, brand promotion programs, or customer relationship management programs.

Market Validation

A crucial step in the product development process is market validation. It helps create the most innovative products that cater to the needs of the target audience and the users. Businesses use the method of market validation to understand whether an idea will develop and lead to a successful product. Here is what you must know about this process.

Marketing Strategy

A marketing strategy is a complete strategy that incorporates all the marketing objectives and goals of a company. Executives derive a successful marketing strategy from market research. They also focus on the right product mix to maximize profits. A marketing strategy is designed to promote goods or services and profit. In this issue, the term 'good' indicates 'product.' A good marketing strategy can help companies identify their best customers. It also enables them to comprehend the requirements of clients. With a good strategy, the most effective marketing approach is possible.

Microsoft 365

Microsoft 365 is an integrated suite of applications, services, and cloud-based storage solutions provided by Microsoft.  It combines the power of traditional desktop applications with cloud-based functionality, enabling users to work seamlessly across devices and collaborate in real time.

Microsoft Dataverse

Dataverse, as a part of Power Platform, enables you to manage and store data utilized by business applications securely. Data within Dataverse is stored within a set of tables.

Microsoft PPM Solutions

Microsoft PPM is an end-to-end collaborative project, portfolio, and resource management platform that assists organizations in gaining visibility, insight, and control to improve decision-making, improve project and work initiative alignment with the business strategy, maximize resource utilization, and measure and increase operational efficiency.

Microsoft Planner

Microsoft Planner is a project management tool that allows users to create, organize, and assign tasks within a team or organization. It is part of the Microsoft 365 suite of applications and is accessible through a web browser or mobile app.

Microsoft Power Apps

Power Apps is a collection of apps, services, connectors, and a data platform that offers a quick development environment for creating unique apps for your company's requirements. You can easily create unique business apps with Power Apps that connect to your data housed in the Microsoft Dataverse underpinning data platform or in various online and on-premises data sources (such as SharePoint, Microsoft 365, Dynamics 365, SQL Server, and so on).

Microsoft Power Automate

Power Automate is a service you can use to automate repetitive operations and increase productivity across all enterprises. With Power Automate you can design desktop, cloud, or business process flows with wide range of connectors like Planner, Power BI, Azure DevOps. and Project Online.

Microsoft Power Platform

The Microsoft Power Platform is a robust collection of programs that enables you to automate operations, develop solutions, do data analysis, and build virtual agents. The Power Platform has five major components: Power BI, PowerApps, Power Automate, Virtual Agents, and Power Pages. Let’s dive into each of the products.

Microsoft Project

Microsoft Project is a complex of project and task management tools that help project managers and teams of all sizes conduct their work correctly: assign tasks, plan resources, mitigate risks, etc.

Microsoft Project Desktop

Microsoft Project Desktop is an on-premises project management application with a perpetual license. The platform is used to build project schedules, which are then saved as MPP files and shared with others to update project status. It also supports setting budgets, managing tasks, and reporting.

Microsoft Project Online

Microsoft is the unspeakable leader in project management tools development. One of the most powerful in this set of platforms is Project Online - a flexible cloud-based tool aimed to help project managers conduct Project Portfolio Management (PPM) and everyday work with their coworkers.

Microsoft Project Server

Microsoft Project Server is a flexible, on-premises solution based on SharePoint Server for project portfolio management (PPM) and everyday work. Using MS Project Server, team members and project managers can start a project and prioritize project portfolio investments almost anywhere. Additionally, Microsoft Project Server assists enterprises in gaining control over all forms of work, matching resources and investments with business priorities, and visualizing performance via powerful dashboards.

Microsoft Project for the web

Microsoft Project for the web is one of the most offered cloud-based platforms to support project management and task coordination. Project for the web used by project managers and team members to plan and manage work of any size providing simple, robust project management capabilities.

Microsoft Teams

Microsoft Teams is a collaboration and communication platform designed for businesses and organizations. It allows teams to collaborate on projects, share information, and communicate with each other in real time.

Microsoft To-Do

Microsoft To-Do is a task management application. It allows users to create and manage tasks and to-do lists to help them stay organized and increase productivity. Users can create tasks, set due dates and reminders, add notes and subtasks, and organize them into lists.

Milestone

Milestones are a specific point in the project life cycle to measure progress towards the ultimate goal. Milestones in project management are used as signposts for project start or end dates, external reviews or inputs, budget checks, submission of significant deliverables. A milestone is a relation point that keeps a significant occasion or a department judgment point in a task. Project milestones are a management tool used to delineate a point in the project schedule. These points can take note of the start and end of a project and mark the completion of a significant work phase. Milestones can be used to symbolize anything that has already started or been completed, although it is primarily a scheduling tool.

Minimum Viable Product

Minimum viable Product (MVP) is a concept of lean entrepreneurship, emphasizing the impact of learning in new product development. MVP is a new product version that allows a team to collect the most significant number of validated learning of customers with minimal effort. This validated learning is in the form of whether a company customer will buy its product. A minimal viable product, or MVP, is an opinion with adequate functionality to draw early users and validate products early in the product growth cycle.

Monthly Recurring Revenue

Monthly Recurring Revenue is one of the crucial indicators in the subscription industry (MRR). Monthly recurring revenue (MRR) is an essential indicator for network partner organizations because it is money that can be accurately predicted every 30 days. The predicted total revenue generated by a firm from all existing subscriptions in a given month is known as Monthly Recurring Revenue (MRR). One-time payments are excluded; however, recurring expenses from coupons, discounts, and recurring add-ons are included. With MRR, the company can examine its current financial health and predict future revenues based on ongoing subscriptions.

Moscow Prioritization Model

The MoSCoW strategy is also called MoSCoW analysis or MoSCoW prioritization. It is a prioritization methodology used in business analysis, management, project management, and application development to establish a common understanding with stakeholders on the great significance of delivering each requirement. During a project, MoSCoW prioritizing is a method for constructing levels of priorities. It depends on the agile project method, which seeks to identify as many factors as early as possible, such as product pricing, quality, and goals. "MoSCoW" stands for "must-have, should-have, could-have, and won't-have," with each letter designating a different priority category.

monday.com

monday is a cloud-based work platform designed to help teams collaborate and manage projects more efficiently.  It provides a centralized space where team members can communicate, share files, track tasks, and monitor progress in real-time.

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