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strategize_-_product_strategy_and_product_roadmap_practices_for_the_digital_age_-_roman_pichler

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Strategize: Product Strategy and Product Roadmap Practices for the Digital Age - Roman Pichler

Reference

Notes

I've been following Roman for some time. In general I've found his approach to be useful and practical when it comes to the real world of the Product Owner / Product Management. This latest book adds to the knowledge base with a view of product roadmaps and portfolio management in general. The ideas, as always are useful. My personal view is that this book is a great accompaniment to "Manage Your Project Portfolio: Increase Your Capacity and Finish More Projects" - Johanna Rothman

The books commences (as a lot of these books do) with a definition of a “vision”, a “strategy” and a “roadmap”. The vision describes the ultimate reason for creating the product, the product strategy states how the vision will be realized, and the product roadmap states how the strategy will be implemented. The product backlog contains the details necessary to develop the product as outlined in the roadmap, such as epics, user stories, and other requirements.

“A product strategy is a high-level plan that helps you realize your vision or overarching goal. It explains who the product is for, and why people would want to buy and use it; what the product is, and what makes it stands out; and what the business goals are, and why it is worthwhile for your company to invest in it.”

The book then goes into the development of a “Product Vision Board” consists of the five sections - vision (expressed as a brief vision statement or slogan), target groups (market or market segment, the customers, and the users), needs (the value the product creates for your target group, the problem that the product solves, or the benefit it provides), product (the actual product; it explains what makes your product special and why it stands out) and business goals (desired business benefits—the value the product should create for your company. Examples include opening up a new revenue source, achieving a profitability target, reducing cost, or being able to provide a service or sell another product) sections.

See http://www.romanpichler.com/tools/vision-board/ for sample.

There is an extended version of the Product Vision Board, the Extended Product Vision Board. This adds the concept of the business model (which is inspired by the Business Model Canvas) and provides the following four sections:

  • Competitors: describes the strengths and weaknesses of the competition and their products. It uses your insights from performing a competitor analysis and helps ensure that your product stands out.
  • Revenue Sources: captures the way your product generates money: for instance, by selling licenses, subscriptions, or online or in-app ads, or by charging for premium features.
  • Cost Factors: the cost incurred by developing, marketing, selling, and supporting your product. This includes the cost of acquiring users and customers, purchasing third-party components, and paying for the services and products provided by partners and suppliers.
  • Channels: the ways you will contact your users and customers to inform them about your product and to sell and deliver the product. The latter can range from implementing the requirements of an online app store to working with retailers to get some shelf space for a shrink-wrapped product. Consider if the appropriate sales and marketing channels already exist, or if you have to create or acquire them.

Of course, while the output is important, the key part of the process is to get everyone into a room to develop a lot of this as a collaboration.

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