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Lean Product Management
Lean Product Management

Lean Product Management: Successful products from fuzzy business ideas

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Lean Product Management

Part II. Are we building the right product?

Chapter 6. Managing the Scope of an Impact Driven Product

In the previous chapter, we saw how to create a cost-impact matrix and determine the smartest way to deliver an Impact Driven Product. Now, these were a prioritized list of feature ideas, but when we have more feature ideas than we can possibly deliver within given business constraints, also accounting for external pressures, how do we decide which feature to launch? Also, within each feature, how do we determine the level of product completeness?

Business and market maturity determine the extent of product completeness we aim for. Unexplored markets, fuzzy business ideas, and untested technology need one approach to product building. Known business models and processes in established markets may require another approach. Exploring product/market fit with viable technology and untested business goals requires a different approach again.

In this regard, this chapter looks at the following topics:

  • The need to understand the...

Chapter 7. Track, Measure, and Review Customer Feedback

Exploring customer perspectives and context can help us uncover new opportunities. We may build a technologically superior and robust product, but that alone cannot guarantee that our product will succeed. Product success can depend on how customers adopt our product, how they perceive our product’s value, and the alternatives that exist in the market among other things. We cannot predict how products will be received by our customers. Customers may adopt our product in ways we didn’t expect them to. By keeping an ear to the ground and a check on the pulse of the market, we can tweak our product experience to identify new value propositions in our Impact Driven Product.

In this chapter, we will explore the following topics:

  • Why do well-made products fail?
  • Categorizing customers by level of engagement
  • Feedback channels and when to use them
  • Incorporating feedback into the product backlog

Why do well-made...

Chapter 8. Tracking Our Progress

"Nobody panics when things go according to plan, even if the plan is horrifying."

– The Joker, The Dark Knight

The success of a product strategy depends on various factors. When operating under ambiguity, data and metrics can help to us steer the product in the right direction, but knowing what metrics to capture and when to use them, is also important. Looking at micro-level, short-term indicators alone cannot tell us how to steer our product in the ambiguous business ecosystem. Product management must be able to take an in-depth, detailed view of feature-level performance metrics. At the same time, they must be able to step back and take a bird's eye view of the larger landscape and see how product strategy must be shaped based on macro-level indicators.

The need for gratification

Instant gratification can be same-day deliveries, self-checkout lanes, superfast streaming speeds,...

Left arrow icon Right arrow icon

Key benefits

  • Identifying Impact-Driven Products
  • Investing in Key Business Outcomes
  • Value mapping to maintain a lean product backlog
  • Utilizing time-bound product metrics
  • Eliminating process waste

Description

Lean Product Management is about finding the smartest way to build an Impact Driven Product that can deliver value to customers and meet business outcomes when operating under internal and external constraints. Author, Mangalam Nandakumar, is a product management expert, with over 17 years of experience in the field. Businesses today are competing to innovate. Cost is no longer the constraint, execution is. It is essential for any business to harness whatever competitive advantage they can, and it is absolutely vital to deliver the best customer experience possible. The opportunities for creating impact are there, but product managers have to improvise on their strategy every day in order to capitalize on them. This is the Agile battleground, where you need to stay Lean and be able to respond to abstract feedback from an ever shifting market. This is where Lean Product Management will help you thrive. Lean Product Management is an essential guide for product managers, and to anyone embarking on a new product development. Mangalam Nandakumar will help you to align your product strategy with business outcomes and customer impact. She introduces the concept of investing in Key Business Outcomes as part of the product strategy in order to provide an objective metric about which product idea and strategy to pursue. You will learn how to create impactful end-to-end product experiences by engaging stakeholders and reacting to external feedback.

Who is this book for?

If you are leading a team that is building a new product, then this book is for you. The book is targeted at product managers, functional leads in enterprises, business sponsors venturing into new product offerings, product development teams, and start-up founders.

What you will learn

  • How do you execute ideas that matter?
  • How can you define the right success metrics?
  • How can you plan for product success?
  • How do you capture qualitative and quantitative insights about the product?
  • How do you know whether your product aligns to desired business goals?
  • What processes are slowing you down?
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Publication date, Length, Edition, Language, ISBN-13
Publication date : May 31, 2018
Length: 240 pages
Edition : 1st
Language : English
ISBN-13 : 9781788831178

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Product Details

Publication date : May 31, 2018
Length: 240 pages
Edition : 1st
Language : English
ISBN-13 : 9781788831178

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Table of Contents

5 Chapters
I. Defining what to build, who we are building for, and why Chevron down icon Chevron up icon
II. Are we building the right product? Chevron down icon Chevron up icon
III. Are we building the product right? Chevron down icon Chevron up icon
Another Book You May Enjoy Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon

Customer reviews

Top Reviews
Rating distribution
Full star icon Full star icon Full star icon Full star icon Half star icon 4.6
(7 Ratings)
5 star 85.7%
4 star 0%
3 star 0%
2 star 14.3%
1 star 0%
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Kevin M Jul 29, 2018
Full star icon Full star icon Full star icon Full star icon Full star icon 5
If you want to understand how a product mindset can help your business or build skills to start a career in product management, this book is a great choice to put you on that path. It might best be titled “Lean Product Mindset.” As a springboard for understanding the value of an outcome-focused mindset, it provides some lightweight tools to make outcome-focused decisions. Are you or your team focused on velocity of feature delivery? Are your stakeholders? Start here to understand why and how an outcome-focused perspective will change how your team measures results and delivers to make those results possible.
Amazon Verified review Amazon
Prateeksha S Jun 21, 2018
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This book is a great read for any entrepreneur or someone planning to bring about innovative products/features in a challenging environment full of restrictions on time, money, efforts and people. Exactly the scenario in startups. As I'm in the process of starting up myself, I found the book to be a great guide in how to start and progress through each stage of the product development process. There are detailed examples of the concepts presented (such Key Business Outcomes, Impact Matrix, Value Mapping, Success Metrics) in the book, so you know how to apply the theory that is explained. What I really liked is how the book takes the stance of 'This is a business venture and everything proceeds from that point', which really narrows and clears one's thinking regarding what to build, how much time should we spend on it, and does it even matter. I can see this book becoming a part of the toolbox for any entrepreneur or intrapreneur.
Amazon Verified review Amazon
Monique Mills Jul 03, 2018
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Mangalam really laid out how to approach product development with the mindset of the desired impact on the intended users. With an intentional emphasis on collaboration, this book is sure to empower development teams worldwide.
Amazon Verified review Amazon
Daryl Kulak Jun 14, 2018
Full star icon Full star icon Full star icon Full star icon Full star icon 5
I enjoyed this book. Product management is a very tricky problem, and the author handles the topic in a way that makes me think she has a lot of practical experience. No naive advice here. The book certainly borrows heavily from Lean Startup, Lean Canvas, Jeff Patton's storymapping and others, as it should, but it weaves these pieces together into a coherent whole that is easy to follow and feels sensible. It even takes a smart approach to thin-slicing, which is rare in my experience and reading. This is a worthwhile step-by-step guide for product managers trying to thin-slice our way to a quick release and validated learning.
Amazon Verified review Amazon
Pavitra Rao Jul 23, 2018
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This is one of the best books I have come across in recent times, which is a practical guide for all product management folks. Author has showcased her versatile experience with utmost ease , I definitely recommend this book incase you need to get good understanding of product management concepts, challenges n solutions. This can handhold you through all possible product management challenges by triggering your thoughts in the right direction, so as to arrive at the best possible solution. Definitely value for money !
Amazon Verified review Amazon
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