An evaluation process that assesses the effectiveness, efficiency, and alignment of product management practices and strategies with organizational goals. Essential for identifying areas for improvement and ensuring alignment with business objectives.
Capability Maturity Model (CMM) is a framework for improving and optimizing processes within an organization. Essential for assessing and enhancing the maturity and efficiency of processes in product design and development.
A systematic evaluation of behaviors within an organization or process to identify areas for improvement and ensure alignment with goals. Crucial for understanding and improving user behaviors and organizational processes.
The degree to which a product or system can be used by specified users to achieve specified goals with effectiveness, efficiency, and satisfaction in a specified context of use. Essential for creating products that are easy to use and meet user needs effectively.
The process of combining multiple products or product lines into a single offering to streamline operations and reduce complexity. Useful for optimizing product portfolios and improving operational efficiency.
A statistical technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate systems. Useful for risk assessment, decision-making, and performance optimization in digital product design.
The effort required for users to complete a task or interaction within a system. Essential for optimizing usability and minimizing user effort.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
A strategy used to determine the proportion of various SMEs needed to support a pipeline of work. Important for optimizing resource allocation, enhancing efficiency, and ensuring teams have the appropriate support based on design demand and complexity.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
A testing method that examines the internal structure, design, and coding of a software application to verify its functionality. Essential for ensuring the correctness and efficiency of the code in digital product development.
An activity during a design audit where printed screens representing customer journeys are reviewed collaboratively with stakeholders to assess design quality and identify areas for improvement. Essential for ensuring design consistency, gathering feedback, and making informed decisions on design enhancements.
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean. Important for identifying outliers and understanding variability in data, aiding in quality control and performance assessment in digital product design.
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
A statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation. Essential for evaluating model performance and preventing overfitting in digital product analytics.
A comprehensive analysis of a website to assess its performance in search engine rankings and identify areas for improvement. Essential for diagnosing and enhancing a website's SEO performance.
A prioritization framework used in product management to evaluate features based on Reach, Impact, Confidence, and Effort. Crucial for making informed decisions about which product features to prioritize and develop.
The process of collecting and documenting the needs and expectations of stakeholders for a new or modified product or system. Essential for ensuring that the final product meets user needs and business objectives.
A usability testing method that measures the first click users make on a webpage to determine if they can successfully navigate to their goal. Essential for evaluating and improving the navigational structure of a website.
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
The process of evaluating a product by testing it with real users to gather feedback and identify usability issues. Essential for validating design decisions and ensuring the product meets user needs.
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
The process of testing and evaluating a design to ensure it meets user needs and business goals before final implementation. Crucial for ensuring that designs are effective and meet intended objectives.
The process of testing product ideas and assumptions with real customers to ensure they meet market needs. Essential for reducing risk and ensuring product-market fit.
A systematic process for determining and addressing needs or gaps between current conditions and desired outcomes. Important for identifying user requirements and guiding the development of digital products that meet those needs.
A relative estimation technique used in Agile project management to quickly assess the size and complexity of tasks by assigning them T-shirt sizes (e.g., small, medium, large). Crucial for efficient project planning and workload management.
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. Essential for preventing fraud, money laundering, and terrorist financing, particularly in financial services, while also ensuring compliance with regulatory requirements and building trust with customers.
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
The process of identifying, assessing, and controlling dependencies between tasks or projects to minimize risks and ensure smooth project execution. Crucial for effective project management and delivery.
A decision-making tool that helps prioritize tasks or projects based on specific criteria, such as impact and effort. Essential for effective project management and resource allocation.
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
A preliminary testing method to check whether the most crucial functions of a software application work, without going into finer details. Important for identifying major issues early in the development process and ensuring the stability of digital products.
A meeting held at the end of a project or development cycle, also known as a "post-mortem," to review what went well, what didn't, and how processes can be improved in the future. Crucial for continuous improvement and learning from past experiences to enhance future projects.
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
Proof of Concept (PoC) is a demonstration, usually in the form of a prototype or pilot project, to verify that a concept or theory has practical potential. Crucial for validating ideas, demonstrating feasibility, and securing support for further development in product design and innovation processes.
A cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed. Important for designers to recognize and mitigate their own risks of continuing unsuccessful initiatives.
A comprehensive list of all content within a system, used to manage and optimize content. Essential for organizing, auditing, and improving content strategy.
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
A usability test to see what impression users get within the first 10 seconds of interacting with a product or page. Important for designers to quickly gauge initial user impressions and improve immediate engagement.
Performance and Accountability Reporting (PAR) is a comprehensive document that outlines an organization's performance in achieving its goals and its accountability in managing resources. This report is essential for transparency, governance, and continuous improvement.
A structured communication technique originally developed as a systematic, interactive forecasting method which relies on a panel of experts. Important for gathering expert opinions and making informed decisions.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.