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Managing Products with Agility / Product Value - Coggle Diagram
Managing Products with Agility / Product Value
Brick-and-mortar businesses can still win on certain elements
Omnichannel retailers win on some emotional and life-changing elements. For example, they are twice as likely as online-only retailers to score high on badge value, attractiveness, and affiliation and belonging. Consumers who get help from employees in stores give much higher ratings to those retailers; indeed, emotional elements have probably helped some store-based retailers stay in business.
Scrum Mastery: 4 Steps to Optimize Product Value
The product is the purpose of what you are doing
It is why you create teams
The product is why you do Scrum
Step 1: Foster a Product Mindset (over a project mindset)
Output doesn’t matter if you are building things people don’t want or won’t use.
PM: The measure of success is usually based on the iron triangle: delivering all defined scope on time and on budget.
It is very easy to slip back into old ways of thinking, especially under pressure.
How are we validating assumptions about the user needs/ the market demand?
What are we learning about value? How is this guiding our product decisions?
What has changed with our users/ our competitive environment since we began this initiative?
Step 2: Paint the Bigger Picture
Clear idea about the bigger picture of what you are working towards and why
This helps determine if you are still in alignment and informs adaptations needed.
examples of types of value.
Business goals (e.g. customer conversion rate)
Profit/ revenue (e.g. revenue per customer, repeat customers)
Cost savings (e.g. customer acquisition cost, cost/ customer)
Customer/ user growth (e.g. new customers, market share, customers using latest release)
Feature usage (e.g. customers using a feature, time spent using feature)
Step 3: Enable Value Emergence
Solutions to complex problems will emerge as you do the work (not just by analyzing and talking about the work)
You could learn that assumptions were wrong
You could see that the market or even the business model has changed.
So you must enable value to emerge as you build the product
Value emergence through your Product Backlog refinement process
Step 1: Break things down smaller… for more flexibility in how quickly you can deliver value
https://agileforall.com/patterns-for-splitting-user-stories/
https://www.agilesocks.com/product-backlog-refinement/
Step 2: Create an understanding of value alignment … to deliver greater value
identify the desired outcomes
State the features and functions desired
https://www.scrum.org/resources/blog/scrum-and-hypothesis-driven-development
Step 3: Zoom out and zoom in repeatedly… to ensure you are still on track for value delivery
Step 4: Validate Actual Value
Value is just an assumption until validated by the market
What is the the actual value realized versus the desired value? How will you gather this empirical data in an effective way?
The trends are what matter. And you need multiple types of data because one type of data doesn’t tell you the full story,
Consider what factors are beyond your control
Make actual value measures transparent. Get input from stakeholders and how they think trends should inform adaptation. A Sprint Review is a great opportunity to do this.
You will learn by doing and making decisions based on what is known.
Scrum is not about how much stuff we build. Scrum is about how much value we can create for the organization through frequent delivery of releasable product.
Therefore, Scrum is also about continuously learning and adapting in order to wring more value out of the product.
Others
4 Dimensions for Scrum Mastery
https://www.agilesocks.com/4-dimensions-scrum-mastery/
Scrum Mastery: 5 Steps to Grow a Strong Team Identity
https://www.agilesocks.com/scrum-mastery-5-steps-grow-strong-team-identity/
Scrum Mastery: 5 Steps to Improve Team Process
https://www.agilesocks.com/scrum-mastery-5-steps-improve-team-process/
Scrum Mastery: 4 Steps to Optimize Product Value
https://www.agilesocks.com/scrum-mastery-4-steps-optimize-product-value/
Scrum Mastery: 5 Steps to Leverage the Organization
https://www.agilesocks.com/scrum-mastery-4-steps-leverage-organization/
Customer Value Is Not Enough
Value Driven Development
"Our highest priority is to satisfy the customer through early and continuous delivery of valuable software"
Value from the customer’s point of view is the benefit they think they will get from using a product or a service
Sprint Review
what is preventing us from shipping today?
The discussion at the Sprint Review should be about “how much value we created?”
It should address the value of all stakeholders not just the customer's value.
A Product Owner may have the following value questions:
Are we solving the right problem?
Are we building the right solution for that problem?
Are customers willing to pay for it?
Can I make money developing it?
For a customer, value questions could be:
Does it solve a problem that I didn’t know I had?
Am I willing to use it?
Am I willing to pay for it?
A stakeholder could be interested in:
Am I making the right investment?
Am I reaching my stakeholder objectives?
Define value for all stakeholders
The team level
These are product qualities like usability, costs, maintainability, performance and so on.
The product level
Outcomes at the product level are the impact the qualities have on customer behaviour and stakeholder values.
The business level
the happy customers and happy stakeholders are merely outputs of the product
The outcome at the business level would be increased revenue or increased employee satisfaction for example
The good part of all of this is that you can measure and receive feedback at these three levels and are therefore able to learn more from your development experiments.
A simple Example
objective is to make more money by increasing ticket sales in the current customer base
Business Level
Outcomes
20% increase in revenue
Outputs
1M increase in frequent flyer sales
Product Level
Outcomes
1M increase in frequent flyer sales
Outputs
Increase in ease of rebooking
Team Level
Outcomes
Increase in ease of rebooking
Outputs
Auto Rebooking
