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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 Traditional approaches to project management are not outdated.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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PBIX file extension

PBIX file extension is a file format used by Microsoft Power BI.  A PBIX file typically contains all the data, queries, and visualizations needed to create a report or dashboard. It can include multiple pages, each with its own set of visualizations.

PRINCE2

the project team have a project plan ready with defined timelines, milestones, and roles before starting a project. It is mostly used in the UK, Australia, and other European countries for effective project management.

Pivot

Pivot means to makeshift or turn in a new direction to accommodate the change in its industry, customer preferences. With the help of pivoting, the company creates a framework in which the company achieves the best level of product or services. It is easy to know what products demand by pivoting the company, so it is pretty easy to find the customer's needs. Pivoting is not meaning changing everything but changing the direction in which they are headed. Pivoting is a mysterious pill that is capable of treatment any problem. Pivoting should only be considered when necessary.

Planning Poker

Planning Poker is a scrum technique that the project teams use to estimate the effort needed to complete a project. This technique is also called the Scrum Poker or Pointing Poker. In this technique, the entire project team gives the input and consensus, due to which the estimates done using this technique are more accurate than the other methods. The project team uses planning poker cards similar to poker cards.

Portfolio

Everyone is familiar with the term portfolio as it relates to a grouping of things under an umbrella. However, the term portfolio can take various forms depending on the industry and context. For example, it is one of the most widely used terms for project and program management industries. If you belong to these industries, you are in the right place. Here is everything you must know about the portfolio in project and program management.

Portfolio Governance

If you are looking to make portfolio management successful, you must have strong portfolio governance practices within the organization. Unfortunately, many organizations struggle with governance, leading to poor decisions, accountability, and many other problems. The key is to understand portfolio governance and implement the right steps. Here is everything you must know about portfolio governance for successful management.

Portfolio Management

Portfolio management is the procedure of selecting, prioritizing, and controlling an organization's projects and programs following its strategic goals and delivery capabilities. The key goal is to ensure that change efforts are implemented while retaining business as usual. Portfolio management is the procedure of selecting and managing investments to achieve a client's long-term financial objectives while also managing the client's risk tolerance. Active portfolio management attempts to outperform the market by actively trading stocks and other assets. Passive portfolio management seeks to replicate the results of a market index or indices.

Portfolio Management Lifecycle

Organizations have trouble investing money in projects and programs that give high returns. That is because while some projects may look good on paper, that might not be the case in execution. So, companies must gain clarity through the lifecycle to select appropriate projects. The portfolio management lifecycle can help optimize the entire project process. Here is everything you must know about it.

Portfolio Manager

The portfolio manager is responsible for creating and managing the portfolio for a project. When it comes to portfolio management, one cannot just say that because Project Managers are responsible for managing projects, they are responsible for managing portfolios. When it comes to managing projects and portfolios, several people are engaged. A portfolio manager must be consistently linked with his team to check if the assigned tasks are correctly being performed or not. While the project manager has been thoroughly researched, this post will focus on the part of the portfolio manager and the related activities.

Portfolio Prioritization

Businesses must create optimal value if they want to stay successful in the long run. One of the best ways to maximize value is by prioritizing and ranking tasks and components. All businesses in the project management industry must do this prioritization for their portfolio. Here is everything you must know about it.

Portfolio Resource Planning

Running a business means you have to plan ahead. That is because one must make calculated decisions to ensure the organization's success. Resource planning is one such crucial aspect that helps the business in guaranteeing smooth operations for its projects. If you are looking to optimize your project portfolios, you are in the right place. Here is what you must know about portfolio resource planning.

Power BI

Power BI is a group of software services, applications, and connectors that combine to transform users' various data sources into coherent, engaging visuals and interactive insights. Power BI makes it simple to connect to data sources, view the data, identify the critical information, and share it with whomever you choose.

Power Pages

Power Pages is an innovative digital tool developed by Microsoft that aims to revolutionize how individuals and teams approach content creation and collaboration.  At its core, the platform offers a versatile environment where users can create and organize various types of content, optimizing their productivity and enhancing collaboration with others.

Power Query

Power Query is a robust data connectivity and transformation tool that empowers users to extract, transform, and load data from various sources.  It provides a user-friendly interface and a wide range of functions to manipulate data efficiently in Microsoft Excel and Power Bi.

Power Virtual Agents

Power Virtual Agents, developed by Microsoft, is an innovative platform designed to enable organizations to build intelligent chatbots and virtual agents.  It provides a user-friendly interface that allows users to create conversational AI solutions without the need for extensive coding expertise.

Predecessor

A predecessor refers to a task that must be completed before another task can start. Tasks in a project often have interdependencies, and these dependencies are crucial for establishing the sequence of work. Predecessors help project managers create a logical flow of tasks, ensuring that each step is completed correctly.

Prioritization

A product manager has many duties to conduct, which allows them to ensure smooth project management. For instance, they have to come up with objectives to achieve different initiatives. Another significant task that a product manager has to complete is prioritization. This allows them to minimize the risks that come with developing a particular product. Below is all the information you need on prioritization.

Product

Anything an enterprise sells that solves a market problem or a customer's needs or desires is called a product. A product is any object or set a company sells to meet its customers' needs or desires. The product may be real or virtual. Natural products combine vital assets (cars, furniture, and computers) and non-durable goods (food and beverages). Virtual products are services or experiences provided (such as education and software). A product may be a mixed product, including physical and virtual elements. Composite products are growing more popular as conventional analog products include digital technologies to reach better and serve customers.

Product Adoption

Product adoption explains the process of a customer getting aware of a product, knowing its value, and starting to use it. At a primary level, adoption can be represented by the percentage of users who offer a specific set of responses after finding a company's product. Product adoption is very beneficial for growing a business faster. If a company's product is adopted, it gains a position within the market and creates a customer base. Product adoption indicates the change b/w the product welcomed by the users and the product that is unknown. There are several kinds of Adopters. The main kinds of Adopters can be classified into five groups: early adopters, innovators, early majority, laggards, and late majority.

Product Analytics

Product analytics is the collection, analysis, and use of user information of a product to make better decisions. Analytics may help a team understand how their customers use product features, identify areas of difficulty, and better the overall user experience. Business insight software uses event monitoring, event attributes, and property grouping to reveal usage trends from digital products such as online or mobile applications. The product experience may be improved with this data, and business results can be achieved. In general, usage data is more trustworthy than surveys and testing.

Product Architecture

Product architecture is a mechanism for assigning product functionality to physical components. Instead of representing the product as a prototype, companies break it into essential components and represent them geometrically. It reveals redundancy and better represents the relationship between different functions. In particular, the role of product architecture, product platforms, and modularization are essential in shaping development and operations strategies how these elements and chunks interact. It plays a crucial role in designing, manufacturing, selling, using, and repairing new products.

Product Backlog

A product backlog defines and prioritizes the task-level specifics necessary to fulfill the roadmap's strategic approach. The backlog should emphasize what activities are next on the development team's to-do list as they work toward the roadmap's big-picture goal. User stories, bug patches, and other tasks are frequently included in a product backlog. The backlog is a graphical representation of how your team will carry out the concept outlined in an agile roadmap. It is a massive to-do list for your development team in many respects.

Product Brief

A product brief explains a product's goals, features, and overall direction. Product managers use it to define the requirements and crucial product data needed to build a new quality or effect. A product brief is an excellent tool for product development. Making one requires little effort but may yield huge returns. A product brief is where product teams may flesh out their ideas. There is no set time restriction, but you should choose the structure and length that best suits your group and promoted product.

Product Canvas

A product canvas is a planning tool that focuses on features to assist you in creating fantastic products. It mixes agile and UX approaches to validate product concepts. Engineering and product management must be on the same page regarding goals and strategies to accomplish projects. A Technology Product Canvas is a simple way to get everyone on the same page. You may start controlling team alignment in less than an hour by developing a Technology Product Canvas.

Product Design

Product design is the process through which designers merge client requests and company objectives to aid organizations in generating productive items constantly. Product designers improve the user experience in the solutions they deliver to their customers while also supporting their organizations in making their products more sustainable for long-term business demands.

Product Designer

A product designer is responsible for the overall user experience of a product and typically collaborates with product management on the product's commercial goals and objectives. Product designers are often linked with visual and tactile features. However, they may also assist with information architecture and system design in some situations.

Product Development Cycle

The product development cycle develops the product from the ideas to the market and end-users. It is the process of launching and moving a product from an idea to its market. Product life cycle applies to the period stock is offered into the consumer's business until it is removed from the shelf. The life cycle of a product is classified into four steps: introduction, growth, development, and reversal. The product development method explains the six steps needed to transfer a product from its original concept to its final market release.

Product Development Framework

Product development framework is the process of delivering new products to customers and improving existing products. Customers can be external or internal. It can support various products, including software and hardware, consumer goods, and services. The method described above that allows companies to produce superior products is called the Product Management Framework. An apparent product development framework allows companies to explore new product ideas and know what customers are viewing for in the initial steps of the project. The aim is to ensure that new and improved products meet customers' actual needs and achieve their business goals.

Product Development Manager

The product development manager supports businesses to compose new products and to improve sales and profits. He works with market researchers and product marketers to develop development and marketing strategies based on new product ideas. He also controls the process of developing products and improving existing products to meet customer expectations better. He is responsible for research, proposal development, and design process oversight. He can decide what products to create and produce. His role is to determine how to achieve their business goals while offering new products that meet the needs of their customers.

Product Development Process

The product development process can be described as all the stages a business has to complete to sprout a product from its idea to its availability in the market. This process refers to the entire scope of activities a company conceives and implements a new product. The product improvement process involves all the actions needed to bring a product from concept to market. It includes identifying market requirements, researching the competitive landscape, conceiving solutions, developing product roadmaps, building the least viable products, and more.

Product Differentiation

Product differentiation is a business strategy for distinguishing a service or product from others competitors on the market. This strategy tries to assist organizations in gaining a competitive margin and defining engaging, unique selling propositions (USPs) that differentiate their product from the competition. There are two ways for a company to differentiate itself from its competitors: cost leadership and product differentiation. Product difference is a beautiful way to establish brand positioning and viral marketing methods and gain satisfied consumers, while cost leadership engages price-conscious clients.

Product Discovery

Product discovery is a process in which a team deeply understands the customers and then uses that understanding to develop products that perfectly fit customer needs. It reduces the uncertainty over the ideal to ensure that the right product gets developed that users actually need. If a team sacrifices the product discovery phase, then it is sacrificing the connection between the product and user needs. Product discovery not just helps in developing the right product, it also lets the team prioritize which products they should work on first and what features they should target.

Product Enablement

Product Enablement is a term used to describe enabling customers to use all the features of a product. This process can be done in both the marketing and customer support channels but often starts with marketing, as we are responsible for getting the details of how the product works. Product enablement is done to help large enterprise employees acquire knowledge about the product. This word comes from the "Sales Enablement" process, which provides sales teams' resources to sell more effectively. In product enablement, this concept is developed throughout the company. The team aims to create a specialized learning program for each department and increase the effectiveness of that department.

Product Excellence

The word “Product Excellence” means making a product that makes a difference in its user’s life and makes their work easier. It is a way to make the right product available in the market faster. When you understand what your customers need, and how to fulfill their needs, you come one step closer to product excellence.

Product Features

The product features describe the functionality of a product. They describe the capabilities of a product i.e. what a product can do. In most cases, the product features address the user's needs. These features include the functional features as well as the non-functional features. The functional features define what a product can do such as autosaving the work, ringing an alarm when the smoke is detected, sending a message at a scheduled time, etc. The non-functional features are those that enhance the functionality of a product such as UI design, hardware specifications, the performance of the system, etc.

Product Increment

The term product increment refers to adding a new feature to a product. Whenever we want to enhance the functionality of a product, we add a new feature to it. Whenever we are building a software product, it is not built all at once. Instead, it is built feature by feature or module by module. With the completion of each module, it is integrated with the other modules. This process is referred to as Product Increment.

Product Launch

A product launch implies a strategically planned and coordinated effort by a business to release the new product into the market and make it accessible for customers. It has many purposes to serve for a business where making it accessible for purchase is just one part of its main purpose. It also empowers a business to create anticipation around the product, receive useful responses from the early customers, and set up a brand identity in the market.

Product Leadership

The term Product Leadership refers to leading the product towards success throughout its life cycle. It is responsible for the success of the company. Product leadership is not the responsibility of product managers but the people who are in authority or are in a position to lead a product, such as directors, presidents, vice presidents, etc. The responsibility of a product leader includes building a strong product team, driving the team on the roadmap to a successful product, taking the decisions that are critical for the success of a product, etc. They are there to ensure that the product team has the right tools and systems needed to develop a successful product.

Product Led Growth

A product-led growth strategy is a business approach that emphasizes the company's product considered growth as a primary source. It is less expensive, reaches a larger audience, and has been shown to work for SaaS, B2C, and B2B, businesses alike. When it comes to a company's growth, product-led growth is an approach that emphasizes a company's product and less on expensive and sophisticated marketing campaigns. In order to attract new customers, the team should cater to their needs within their product rather than sending out a sales pitch-laden newsletter. It is a customer-centric, long-term strategy for promoting their product and acquiring new customers.

Product Life Cycle

The term product life cycle refers to different stages that a product goes through throughout its life span. It is the period from when a product was launched and introduced to the consumers to when it was removed from the shelves or the market.

Product Management

It is the process of bringing new or improved products to market or improving an existing product. An initial concept for a product that the customer will engage with and an assessment of the product's success are the beginning and end of the process. Management of product creation, marketing, and sales are all part of product management. According to research, an efficient product management strategy can raise profits by 34.2 percent. There are two types of product managers: those who focus primarily on product development and those who focus on product strategy.

Product Management Audit

A product management audit's objective is to determine the current state of the company's product management and strategy. The statistical analysis identifies and removes barriers to a product's success as part of the audit. All aspects of the company's product plans and management procedures are examined and graded objectively to address and identify any weaknesses or flaws. An audit can be done internally by the firm, or it could be outsourced, which provides an honest viewpoint. Sometimes, with the help of a product management audit, a company can succeed in future products.

Product Management Certifications

Product management certifications are documentation awarded by PM organizations that demonstrate a person's understanding of the subject. Any competent product manager must possess these abilities. On the other hand, each area can be tackled in new and more efficient ways. Detailing, implementing, and assessing product success indicators are just a few of the essential competencies a candidate can obtain through these credentials. Market research, customer needs analysis, product lifecycle development, revenue, idea generation, and pricing estimation are all included. Product management certifications are helpful in this situation. The product manager certifications have included here will be helpful for both seasoned and rookie managers wishing to enhance their careers.

Product Management Framework

The Product Management Framework is a structure in which the top-down business professionals of target customers are at the center of the Product Management, Product Marketing, Sales, and Customer Success teams. Product management practices vary from company to company, depending on needs and requirements. The company's product management systems must supervise superior products, assuring customer comfort and overall profitability. The Product Management Framework is a collection of steps that a company takes in building a product to optimize the time needed to develop a high-quality product. The product management framework supports businesses building on past successful products and using the same techniques to create subsequent success.

Product Management Tools

Product management tools are software or web applications that support product teams performing some or all phases of a product lifecycle, from product planning, research, and development to launch, assessment, and iteration. The product team uses product management tools for some or all of the product-related activities, including prototyping, product roadmap definition, user journey mapping, customer surveys, product roadmap creation, feature prioritization, sprint management, product data analysis, process mapping, and product release management. Product management software is an organizational means for growing and developing a company's products fast and efficiently. Product managers and their teams can collect new ideas and make specific plans to make the final.

Product Manager

A product manager is an employee who determines the needs of customers and the company as a whole, establishes success for a product, and organizes a team to make that success a reality. Product management has been studied for more than a decade and has a firm grasp of what it means. The profession of a product manager is so new that many people are not sure what it entails. Although the design and engineering professionals have differentiated themselves by their specialty, product managers are still figuring out their function. Moreover, a product manager does comprehensive research and is responsible for the collaboration of all critical areas of product development.

Product Metrics

Product metrics are data about how customers and users interact with digital applications and products and how they interact with the business. Product metrics are used by product teams, marketing teams, customer success teams, and analytics teams to determine the success of products and websites. Product metrics are data analyses that benefit companies to assess product progress and learn how customers involve with the product. Standard metrics such as termination rates and conversion rates are reflected in product strategy and help different stakeholders in the company understand the product's value.

Product Mission

A product's mission is a clear and concise text that describes the highest level of purpose for that product. Make sure the product manager knows whom they are delivering the product for and what they are doing for it. It will also clarify the characteristics of the product and answer questions. The product mission plays a vital role in explaining why the product is needed in a straightforward way to understand and easy to share. Well-crafted statements ensure that the big ideas behind the product are understood but do not limit the way to get that understanding.

Product Operations

Product operations are becoming a common task. As with other operations, the goal is to support a specific team. In this case, a product team to streamline the team by handling data technologies and streamlining processes. These include streamlining communication within the different departments in the company and with the product team. It also includes standardizing planning and other processes, training programs and onboarding, and support resources & enforcing best practices. ''Product Operation'' is an operation function that optimizes customer success, the intersection of product and engineering. Support R&D teams and their marketers to improve product coordination, communication, and processes.

Product Ops

Product Ops is a function devised to help handle the company's cross-functional product units. Product Ops, short for Product Operations, is similar to other operational functions, such as Marketing Operations and Sales Operations, and helps bridge the gap between product, engineering, and customer success. Product processes can be regarded as a role (or team) within an association and a talent that product professionals can conceive. Precise preferences in product operations may vary depending on the maturity of the company, the industry, and the nature of the product itself.

Product Owner

The primary objective of the Product Owner (PO) role is to represent customers in the development team. An essential activity is managing and creating the backlog evident or giving a prioritized list of demands for future product development. The only person who can alter the order in the product backlog is the PO. An unusual feature of a product principal's role is that he has to serve the development team, answering any questions from team members about the customer's perception of how the product is implemented. The product leader should not be a Scrum Master.

Product Portfolio

A product portfolio is a set of services and products that an enterprise sells; a thorough study of this portfolio provides insight into the company's growth prospects and profit & sales sources. Such a combination may be considered a set of product lines and individual products. This combination is typically divided into the matrix format first promulgated by BCG. The application of portfolio analysis is most prominent in massive organizations with diverse products. By utilizing this portfolio analysis, management can better understand whether a company has enough powerful products coming out or its product lines have become obsolete.

Product Portfolio Management

Portfolio management is used for evaluating any product and its current progress. It also includes recognizing risks and coming opportunities, simplifying resource allocation based on priorities and product success, and finally adjusting those products with the long-term strategic goals of the enterprise. This method allows stakeholders and product managers to frequently examine their products, make enhancements based on changing customer needs, add more services, and simplify product performance based upon resource capabilities. The accumulation of these processes leads to higher returns on investment, thereby raising the corporate profit.

Product Positioning

Product positioning is a kind of marketing that introduces the advantages of a company's product to a specific target end-user. Market research groups can identify which audiences are targeted based on positive responses to a product. Studies can also determine which product benefits are most attractive to them. Understanding this information helps simplify marketing and drive more leads and sales. It also helps differentiate products or services from market competition. Product positioning is an essential part of any marketing plan, but it is not necessarily restricted to one end-user.

Product Prioritization Frameworks

Product prioritization frameworks are a step-by-step approach for prioritizing product development tasks. The primary goal of this framework is to priorities tasks based on the needs of the target audience. This framework assists teams in determining whether or not they are focusing on the most critical tasks. Is a company’s product or service serving the needs of its customers? Is this product a viable idea? Is our job done following consumer feedback? It is a systematic method of evaluating the equal importance of work, suggestions, and requests to reduce wasteful activities and deliver client value in the fastest possible manner.

Product Requirement Document

The Product Requirement Document (PRD) defines the value and purpose of the product. Product managers write PRD to describe what they are making, who it is for, and how it helps the customer. It is often tangled with the Market Requirement Document, but they are distinct. MRD should be created before PRD to document customer needs and requirements for their product or service before defining requirements. Their PRD should follow a top-down approach, starting with the overall vision they want to accomplish. It should then link product goals and initiatives to the functionality needed to accomplish that vision.

Product Risk Analysis

A project has never had unlimited time and money to develop. PRA is a vital tool to help testers allocate limited resources. It starts with the risks involved in a particular project or change. We want to do the most testing where the risk is maximum. Product Risk Analysis assists in identifying and estimating those risks. It may consider the system being tested with different ideas, e.g., from a business viewpoint: how does the system fit in the business processes, which features are most valuable, but also from an IT/technical viewpoint: how stable is an installed source code base?

Product Risk Management

Risk management is an essential element of product design. It benefits in minimizing product and project-related risks such as project funds and schedule overruns or missing product quality and cost objectives. Risk management is essential for complex international product development projects. This paper examines the research on product design risk management. The new standard consists of seven process steps: Consultation and communication, background building; risk analysis; risk identification; risk assessment; risk treatment, and review and monitoring. The ISO 31000 process model seems suitable for product design risk management. Product Risk Management plays a vital role in many companies.

Product Roadmap

The product roadmap is an action plan to align organizations around projects or products' short and long-term objectives and how we can accomplish them. It is a common source of truth that describes the direction, product's vision, priorities, and growth over time. While a road map usually shows what companies are building. The items on the roadmap should be associated with their product strategy, and their roadmap should respond to changes in customer feedback. Product owners utilize roadmaps to work with their teams and agree on how products evolve and improve over time.

Product Stack

Product stacks are the applications, technologies, and other resources that product managers use to bring products to market. This word comes from the development community. In the development community, team toolkits are often called "development stacks" or "technology stacks." A product stack is a set of options or tools that product managers use to bring products to market. It is also known as the Development Stack, Toolkit, or Technology Stack. The tools in the stack are divided in different ways.

Product Stakeholder

A product stakeholder is an individual (or group) who is interested in the product and can impact its success or get impacted by the product. A stakeholder includes everyone who should contribute to the product and approve different product elements, such as planning, developing, testing, and similar others. Similarly, stakeholders also include those individuals or groups who purchase the product or who facilitate in marketing and selling the product.

Product Strategy

The product strategy defines what the product manager wants to achieve, provides a context around their market, and guides the high-profile work themes that help them achieve their goals. The company wants to align the organization around a shared vision and keep everyone focused on the work that matters the most. The goal-first approach is the best way for product managers to achieve innovation. Strategic planning should occur before the product team delves into the detailed work of building a roadmap and developing new capabilities. If done well, the product team will associate each function with a larger objective.

Product Strategy Framework

A product strategy framework is a step-by-step procedure to build a product strategy with a complete guide of where to start and end. Product strategy describes what the company wants to do, give context for the market, and directs the major work to get objectives. Suppose a company wants to unite the team behind a mutual objective and keep everyone engaged on the most critical tasks, then a product strategy framework is built. A product manager applies a goal-first strategy to get innovative ideas. Before going into the details of designing a project roadmap and introducing new features, he should conduct strategic planning.

Product Team

A product team is a cross-functional and collaborative team that works to accomplish the common goal of developing a product with all the required features and amenities. A product team is set up with different cross-functional roles where each member is meant to bring a specific set of skills to the team required to develop the product. When a product team comprises the best-skilled members, all the product development, release, and post-launch phases are dealt with utmost efficiency.

Product Vision

The product vision is part of this instructional constellation, linked to the company's overall mission. A strong product vision can help build a forward-looking, customer-driven product strategy. Most product teams struggle to see the bigger picture without a precise vision. They usually tend to conflict about what to do next and change direction. When companies cannot relate their work to the value it provides, they feel disoriented and unmotivated. The vision takes the future into everyday life. It serves the whole firm to understand the general purpose of the product. If done right, it can inspire everyone to do their best work.

Product Vulnerability

Any weakness or flaw that can be used to affect a product or service is known as product vulnerability. A potential cyber attack on a product's functionality or integrity may also be possible because of the flaw's open door. Other possible effects include a violation of privacy. The monitoring of vulnerabilities should also be an ongoing continuous effort to stay up with new systems or revealed holes. Vulnerability management is a multi-step process for finding and fixing security flaws in software and other products not to compromise their intended use. There must be a comprehensive approach to handling these threats to preserve the product's integrity.

Product portfolio manager

A product portfolio manager is a professional responsible for overseeing and managing a company's entire product portfolio. While the role may vary from organization to organization, it primarily involves: - Strategic alignment - Prioritization - Resource allocation

Product-Market Fit

The term "product-market fit" refers to a situation in which a company's target consumers purchase, use, and notify others about its product in sufficient quantities to keep it growing and profitable. The Product-Market Fit Hierarchy is an implementable model that uses five key components to determine product-market fit. It is easy to see how the components of this hierarchical model are interconnected, as each is a level of the hierarchy. The five levels of the Product-Market Fit Pyramid are target customers, low‐income needs, real worth proposition, set of features, and customer experience.

Program

Project management in a company involves employees conducting various tasks. For instance, goals have to be set to ensure smooth management. Besides that, programs play a key role in any business. If you are wondering about the meaning of a program in project management, you're in the right place. We know all about it and will be guiding you. Here is what you need to know about a program.

Program Governance

Decisions are one of the key features of a company’s success. They can account for a successful project. However, they can also result in failure depending on the authority. In a company, sound decisions are integral and allow a business to thrive. The one thing that helps managers to make a good decision is a program governance model. Below is all the information you need to understand this term.

Program Increment

A program increment is a period in which agile Release Trains deliver incremental value in the form of running and testing systems. One of the primary purposes of PI planning is to keep everyone aware in the team to have a good experience of team collaboration. Planning, constructing, testing, and validating a full system increment, showing value, and receiving timely feedback are all part of the process. . PIs typically last between eight and twelve weeks. Four iterations of development followed by innovation and planning (IP) is the most prevalent PI pattern. As Iteration is an Agile Team, a PI is to an Agile Release Train (ART).

Program Increment Backlog

A backlog is a centralized storage area that contains a prioritized list of items that will be implemented. These operations can be features, epics, user stories, or tasks that are critical components of an organization's strategic strategy that must be implemented. The Agile Release Train's core is Program Increment (PI) Planning. Alternatively, to put it another way, it puts down the train tracks to ensure that all train cars travel in the same way. SAFe development on a large scale is a highly tuned process that must be managed. Program increment Backlog keeps track of all increment tasks.

Program Increment Goal

PI goals are a set of summarized instructions to represent the business and technical parts of a goal that an agile development or release train must achieve. They form the foundation for planning and aligning a program increment's results—the use of PI objectives aids in knowing what needs to be done. As a result, the information contained in the PI objectives is effectively presented to business owners or stakeholders, educating them about the product and validating the team's understanding of the subject. In the end, team members and stockholders try their best to achieve these committed goals.

Program Increment Roadmap

A Program Increment (PI) Roadmap supports the creation of a timeline of events or milestones that defines all of the targeted deliverables along the product's journey. Future planning takes time and effort when creating a PI Roadmap. It is, in reality, a complex process because a team cannot accurately foresee how the market or the requirements will change. It may give some direction and build the groundwork for long-term projects with the help of a plan. It is all about adapting to change in an agile way.

Program Management

Program management is the strategic management of multiple related projects in order to execute them simultaneously and let them share resources and other activities. Basically, it is a grouping of individual projects that are somehow linked together based on their area of impact or common goal. Moreover, program management gives more visibility to stakeholders and ensures consistent management for achieving the shared organizational goal.

Program Manager

A program manager is the strategic project planner/manager of an organization whose job is to oversee multiple projects at the same time, where all projects are related to one major program. A program manager holds a high-level view of the whole program, strategically manages and directs all the interconnected projects, and ensures that project managers are all working efficiently to achieve the main program goal. In short, a program manager is like a meta-project manager who holds the key to the program's success.

Project

A project can be defined as a series of steps needed to accomplish a specific goal. There are some deliverables of each project. The deliverables refer to the outcomes that are achieved when a project is completed. They can be a product, a service, or just a feature. Each project has a specified timeline, and it has to be completed within that time. A project can either be small or large and can be divided into multiple sub-projects. It is always temporary and must end at some time.

Project Brief

The term “Project Brief” refers to the description of how a project will be executed to achieve the desired outcomes. The project managers use the project brief to explain to their clients regarding the project plan and what they are offering. In a nutshell, the project brief is a short description of the key elements of a project. It is the starting point of any project.

Project Budget

The project budget refers to the amount of money needed to be spent to complete a project. It includes all the estimated costs incurred before the project completion. The project managers use it to estimate the total cost of a project. It includes the labor costs, material and procurement costs, and operation costs. The project budget is not a static document meaning that it will keep changing throughout the development lifecycle.

Project Business Case

The project business case is a document that explains the business plan of a company that it is trying to achieve through a particular project. It also gives the reasons why someone should invest in a project. It is developed when a project is in its early stages. It outlines the why, what, how, and who is necessary to complete a project. A Project's business case helps the stakeholders to decide whether to invest in the project or not. It also explains particular clients' benefits from the project's deliverable.

Project Canvas

The project canvas is a simple tool designed to help the project managers describe a particular project to their teams, clients, and other people. It is an ideal structure to define stages that a project will go through and a simple structure of its elements. It provides an overview of the project in a simplified way. It also improves the communication between the project team.

Project Collaboration

Effective communication is an integral feature that all projects in a company must possess. However, sometimes it is more difficult to achieve. In such a case, project collaboration can help immensely. Project collaboration is a practice that many companies have been using for years. If you want to understand it completely, say no more. We know all about it, so here is a complete definition guide for it.

Project Control

In all companies, projects are not self-running and require comprehensive planning. Otherwise, turning it into a success would be difficult and time-consuming. A key thing that can help with management is project control. A project manager must ensure that tasks are completed within time and without exceeding the budget. That is where project controlling comes into play. Here is everything you need to understand this term.

Project Dashboards

Project portfolio management involves many different tools for tracking purposes. They help with the smooth operations of various projects within a company. A key thing that helps with tracking is the project dashboard. If you want to learn more about project dashboards, you’ve come to the right place. In this post, we will be telling you all about it. So keep on reading to understand project dashboards.

Project Dependency

Project management involves many tasks that may be individual or interrelated. This is why managers have to ensure their completion in different ways. Project dependency plays an integral role in the management of interlinked tasks. If you’re looking to learn more about it, your search ends now. Here is everything you need to know about it.

Project Gantt Chart

<!-- wp:paragraph --> <p>In all companies, planning a project requires time and effort. This is why using different tools is a viable option. Many managers opt for them to save time while improving efficiency.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>A project Gantt chart is a tool that is famous in the project management industry. If you want to understand it in a better way, you are in the right place. Here is a complete guide to help you.</p> <!-- /wp:paragraph -->

Project Intake Form

Many companies work on a task-to-task basis and allow their clients to order a particular product. This is why it is essential for such a company to obtain information about what the client wants. That is where a project intake form comes in. Project managers in many companies use the intake form to gather relevant information before agreeing to take on the client. If you oversee projects in a company, you must understand the project intake form. So here is a guide that will help you.

Project Intake Process

In the project management industry, a company takes on multiple clients simultaneously. However, it is to note that managers do not agree to take all potential customers. A thorough process has to be conducted before a business takes on a client. A process that helps a company say yes or no to a potential client is called the project intake process. If you want to know more about it, you have reached the right place. Below we have detailed everything you must know about a project intake process.

Project Management

As its name depicts, Project Management refers to the activities performed during the development of a project. Project management is needed for every project because it defines the track to be followed during the project. It is done from the beginning to the completion of the project. It includes applying the processes, methods, skills, and experiences to complete a project on agreed-upon terms. Project Management is the project manager's responsibility. A project manager manages all the teams and activities during different phases of a project's life cycle.

Project Manager

A project manager manages the activities needed to perform to achieve the desired outcome from a project. He plays a vital role in planning, executing, controlling, and completing the project. His abilities determine the success or failure of the project. A project manager should be motivated, passionate and goal-oriented as the entire project team relies on him, and he must keep the team motivated and focused. Furthermore, the project manager brings everyone on the same track.

Project Objectives

A project in a company has to be fulfilled on time while keeping various parameters in mind. One of the top things that a manager has to ensure is to set project objectives. This is because you cannot know whether the project is a success or not unless you know clearly what the project is meant to achieve. Many people consider project goals and objectives the same. However, they are not, so it is essential to understand the difference. In this post, we will tell you all about project objectives so that you know what they are.

Project Plan

In the project management industry, planning plays an integral role in the company's success. This is because it helps you tackle issues before starting the project. Not only that, but it can aid you in maximizing work efficiency. A project plan is an integral document that helps with managing different projects. When hearing the word, it may seem a simple concept to you. However, in the industry, it has a broader meaning.

Project Portfolio

The project management industry is vast and includes various techniques for delivering the desired results. Managers have to take different factors into account when building project layouts. A project portfolio is an effective technique that can help improve project results. Generically, a portfolio refers to the grouping of different items. If you want to know this term's meaning in the project management industry, you're in the right place.

Project Portfolio Management (PPM)

Projects and portfolios can take up sufficient resources and time for any business. The key is to optimize these resources to make the most out of them. That is where PPM comes in, and here is everything you must know about this.

Project Prioritization

Many businesses in any industry don't have one project in their plan. If the business grows, it will have several projects waiting to be worked on. However, everything is to be done in its time and under the deadline. Some projects are long run, and some are for the short run. An organization always has a list of tasks they need to get done, but with time some get obsolete. To make this easier, Project Prioritization was introduced. This process shows how and why a business should prioritize its projects.

Project Request

A Project Request is a simple description of a project given to an organization's project management department. It briefly describes the project, its purpose, and how it will benefit an organization. It can also be referred to as the project proposal, but the difference is that the project proposal is a bit detailed, whereas a project request is brief. As its name depicts, the project request is just a request submitted to the leaders of an organization to consider a project idea. It enables an organization to find project proposals to evaluate how well the project supports their organization's strategic goals.

Project Roadmap

This blog post will provide a high-level overview of what a project roadmap is, and how you can use it to get the most out of your startup. We'll discuss why an effective project roadmap is important for your business, and provide examples from some well-known companies that have been successful with their own project roadmaps. Finally, we'll take a look at the steps involved in creating your own project map!

Project Schedule

The term Project Schedule refers to the timetable of a project. It shows the starting and ending date for a project, how the tasks are divided into different milestones and how they are related. The project schedule is the graphical representation (usually a Gantt chart) of the planned dates and resources for the work to be performed. It organizes tasks, resources, and due dates in an ideal way to complete the project within the given time. A project schedule should also reflect the logical relationships between activities.

Project Selection

Project selection refers to the process of selecting a project. In an organization, many projects might be running simultaneously, and many new projects are proposed on a daily basis. So, the company and the project team must decide which project to start first and which project can be delayed. Before a project is selected for execution, many aspects are considered, and the project is evaluated. The project that aligns with the organization's business goals has the most chances of being selected.

Project Status

Before a project is started, a detailed plan of the tasks is prepared to be completed in every stage. The completion of every task leads to the completion of the project itself. Therefore, you must be aware of the project's status in progress. Project status can be a detailed or short overview, depending on how the manager wants to look at the project. However, here we will talk about how Project Status helps an organization.

Strategic Portfolio Management
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