Minimum Viable Feature (MVF) is the smallest possible version of a feature that delivers value to users and allows for meaningful feedback collection. Crucial for rapid iteration in product development, enabling teams to validate ideas quickly and efficiently while minimizing resource investment.
A term used to describe an organization focused on continuously shipping new features, often at the expense of quality, user experience, or business value. Crucial for recognizing and addressing the pitfalls of prioritizing quantity over quality in feature development.
A prioritization technique where stakeholders use a limited budget to "buy" features they believe are most valuable, helping to prioritize the development roadmap. Useful for involving stakeholders in the decision-making process and aligning development priorities with business value.
Must have, Should have, Could have, and Won't have (MoSCoW) is a method used to prioritize features or tasks. Crucial for effective project management and ensuring focus on essential features.
Minimum Marketable Feature (MMF) is the smallest set of functionality that delivers significant value to users and can be marketed effectively. Crucial for prioritizing development efforts and releasing valuable product increments quickly, balancing user needs with business objectives.
A framework for prioritizing product features based on their impact on customer satisfaction, classifying features into categories such as basic, performance, and delight. Crucial for understanding customer needs and prioritizing features that enhance satisfaction.
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 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.
Feature Adoption Rate (FAR) is the percentage of users who adopt a new feature within a specified time period after its release. This metric is important for measuring the success and impact of new product features.
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.
A visual exercise that helps product teams understand and prioritize features by organizing user stories into a cohesive narrative that aligns with user journeys and goals. Essential for planning and prioritizing product features and ensuring alignment with user needs.
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
A prioritized list of tasks, features, and technical debt items that need to be addressed by the engineering team. Essential for managing and organizing work in software development projects.
Weighted Shortest Job First (WSJF) is a prioritization method used in agile and lean methodologies to maximize value by comparing the cost of delay to the duration of tasks. Essential for effectively prioritizing work to ensure the highest value tasks are completed first.
A prioritized list of features, enhancements, and fixes that are intended to be addressed in future product development cycles. Essential for managing and planning product development activities efficiently.
Product Strategy is a framework that outlines how a product will achieve its business goals and satisfy customer needs. Crucial for guiding product development, prioritizing features, and aligning the team around a clear vision.
The worth of something based on its ability to help achieve a desired end or goal. Useful for understanding and prioritizing design elements that contribute to user goals.
A tool used to prioritize tasks based on their impact and effort, helping to focus on high-value activities. Important for prioritizing tasks effectively to maximize impact with minimal effort.
A prioritized list of ideas and potential features for future product development, embodying a collective vision for innovation and improvement. Essential for managing creative input and maintaining an innovation pipeline that aligns with the team's entrepreneurial spirit and shared commitment to product excellence.
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively. Crucial for making objective and balanced decisions in project management and product development.
Also known as feature creep, the continuous addition of new features to a product, often beyond the original scope, leading to project delays and resource strain. Important for managing project scope and ensuring timely delivery.
A research method used to determine how desirable a product or feature is to potential users. Crucial for understanding user preferences and guiding product development.
A role in Agile development responsible for defining the product vision, prioritizing the product backlog, and ensuring the development team delivers value to users. Essential for guiding product development and ensuring alignment with user needs and business goals.
Cost of Delay (CoD) is a metric that quantifies the economic impact of delaying a project, feature, or task. Important for making informed decisions about project prioritization and resource allocation.
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
A simple description of a feature from the perspective of the user, typically used in Agile development to capture requirements and guide development. Crucial for ensuring that development efforts are aligned with user needs and priorities.
A design approach that focuses on building a robust core experience first, then adding more advanced features and capabilities for users with more capable browsers or devices. Essential for ensuring a consistent and accessible user experience across different devices and browsers.
Product Requirements is a document that outlines the essential features, functionalities, and constraints of a product. Crucial for guiding the development process and ensuring all stakeholders have a shared understanding of the product's goals.
A strategic planning tool that focuses on outcomes and objectives rather than specific features, allowing for flexibility in achieving goals. Important for maintaining strategic focus and adaptability in product development.
Minimum Viable Experience (MVE) is the simplest version of a product that delivers a complete and satisfying user experience while meeting core user needs. Essential for rapidly validating product concepts and user experience designs while ensuring that even early versions of a product provide value and a positive impression to users.
A cognitive bias where people prefer a smaller set of higher-quality options over a larger set with lower overall quality. Useful for designing product offerings and experiences that emphasize quality over quantity for users.
A role that involves overseeing the development and improvement of technical products, ensuring they meet user needs and business goals. Crucial for bridging the gap between technical teams and business objectives, ensuring successful product development.
A design approach that prioritizes the practical purpose and usability of digital products over purely aesthetic considerations. Important for creating efficient, user-centered designs that effectively fulfill their intended functions.
Jobs-To-Be-Done (JTBD) is a framework that focuses on understanding the tasks users are trying to accomplish with a product, emphasizing their goals and motivations over product features. Crucial for designing products that meet real user needs and motivations.
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
A statistical method that models the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data. Essential for predicting outcomes and understanding relationships between variables in digital product design and analysis.
A product development approach where teams start with the desired customer experience and work backwards to determine what needs to be built to achieve that outcome. Essential for ensuring that product development is aligned with customer needs and expectations.
A principle stating that as investment in a single area increases, the rate of return on that investment eventually decreases. Important for understanding and optimizing resource allocation in product design and development.
The ability of users to influence the behavior and outcomes of a system or product, allowing them to interact with it according to their preferences. Essential for creating user-friendly interfaces that allow for flexibility and customization.
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
A statistical method used to predict a binary outcome based on prior observations, modeling the probability of an event as a function of independent variables. Essential for predicting categorical outcomes in digital product analysis and user behavior modeling.
The degree to which users feel they have control over their actions and decisions when interacting with a product or system. Crucial for designing systems that empower users and enhance their sense of control and satisfaction.
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.
Quality Function Deployment (QFD) is a method used to transform customer needs into engineering characteristics for a product or service. Essential for ensuring that customer requirements are systematically incorporated into the design and development process.
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood to recommend a product or service to others. Crucial for gauging overall customer sentiment and predicting business growth through customer advocacy.
The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures. Critical for understanding the characteristics of data and informing appropriate analysis techniques in digital product development.
The enhancement or diminishment of perception, cognition, or related performance as a result of exposure to a stimulus of greater or lesser value in the same dimension. Useful for designing interfaces that leverage contrasting elements to guide user attention and behavior.
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
Application Release Automation (ARA) is the process of automating the release of applications, ensuring consistency and reducing errors. Crucial for accelerating the delivery of software updates and maintaining high-quality digital products.
The risk that the product being developed will not deliver sufficient value to the users, meaning it won't meet their needs or solve their problems. Critical for ensuring the product will be desirable and valuable to the users, which is essential for its success.
A visual tool in agile project management that displays tasks to be done, in progress, and completed, often using columns and cards. Crucial for visualizing workflow and managing tasks efficiently.
User Experience (UX) refers to the overall experience of a person using a product, system, or service, encompassing all aspects of the end-user's interaction. Crucial for creating products that are not only functional but also enjoyable, efficient, and satisfying to use.
A visual workflow management method used to visualize work, limit work-in-progress, and maximize efficiency. Crucial for improving workflow and productivity in various processes.
A fictional representation of a user segment, created based on user research to guide design decisions and ensure the product meets the needs of its target audience. Crucial for keeping design efforts focused on user needs and preferences.