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.
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
The process of planning, executing, tracking, and analyzing marketing campaigns. Essential for ensuring the success and efficiency of marketing campaigns.
Designing systems and processes to effectively respond to and manage crises, ensuring resilience and quick recovery. Crucial for preparing for unexpected events and minimizing their impact.
Total Addressable Market (TAM) represents the total revenue opportunity available if a product or service achieves 100% market share. Essential for understanding the full potential of a market.
The planning, development, and management of content to meet business and user needs, ensuring consistency and effectiveness across all channels. Essential for creating cohesive and impactful content that aligns with business goals and user needs.
The process of creating a simplified visual guide or blueprint for the layout and structure of a webpage or app, focusing on functionality and content placement. Crucial for planning and communicating design structure before full development.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
The practice of using an established brand name to introduce new products or services. Essential for leveraging brand equity to expand product lines and enter new markets.
Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) is an acronym for describing the challenging conditions of the modern world. Important for understanding and navigating dynamic and unpredictable environments.
A detailed schedule outlining the key milestones and activities leading up to and following the launch of a new product. Important for ensuring timely execution of all tasks related to the product launch.
A list of tasks and deliverables that a team commits to completing during a sprint, providing a clear focus and scope for the sprint's duration. Essential for organizing and prioritizing work within an Agile sprint.
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 unique capability that sets an organization apart from its competitors, providing a competitive advantage. Important for identifying and leveraging core strengths in strategic planning.
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.
A technique used in agile project management where tasks are estimated using the Fibonacci sequence to reflect the uncertainty and complexity of work. Essential for accurate and realistic task estimation in agile methodologies.
The practice of planning and organizing people, infrastructure, communication, and material components of a service to improve its quality and the interaction between service providers and customers. Essential for creating effective and user-centered service experiences.
The use of data, algorithms, and machine learning to recommend actions that can achieve desired outcomes. Essential for optimizing decision-making and implementing effective strategies.
Software Development Life Cycle (SDLC) is a process for planning, creating, testing, and deploying an information system. Essential for managing the complexities of software development and ensuring project success.
The process of predicting future customer demand using historical data and other information. Crucial for optimizing inventory levels, production schedules, and supply chain management.
The process of planning, creating, and managing content in a way that is user-centered and purpose-driven. Crucial for ensuring that content is engaging, relevant, and effective.
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.
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.
A behavioral economics model that explains decision-making as a conflict between a present-oriented "doer" and a future-oriented "planner". Useful for understanding user decision-making and designing interventions that balance short-term and long-term goals.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
A theory in environmental psychology that suggests people prefer environments where they can see (prospect) without being seen (refuge). Useful for understanding environmental design and creating spaces that feel safe and inviting.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) Goals are a framework for setting and achieving clear objectives. Essential for setting clear and actionable objectives in personal and professional contexts.
The abilities and knowledge required to effectively plan, execute, and close projects, including leadership, communication, time management, and risk management. Essential for ensuring successful project outcomes and achieving business objectives.
A document that outlines the objectives, scope, deliverables, and timeline of a project, providing clear direction and expectations for all stakeholders. Crucial for ensuring clear communication and alignment among project stakeholders.
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 practicality of implementing a solution based on technical constraints and capabilities. Crucial for evaluating the viability of design and development projects.
A project management technique that identifies the longest sequence of dependent tasks and calculates the shortest possible project duration. Essential for optimizing project timelines and ensuring timely delivery of digital products.
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.
An analysis that assesses the practicality and potential success of a proposed project or system. Crucial for determining the viability and planning of new initiatives.
A strategic management template for developing new business models or documenting existing ones, detailing elements like value proposition, infrastructure, and customers. Important for understanding and designing business strategies that align with product and user experience goals.
The process of creating awareness and demand for a product or service through marketing activities. Crucial for driving interest and engagement in potential customers.
A cognitive bias where people underestimate the complexity and challenges involved in scaling systems, processes, or businesses. Important for understanding the difficulties of scaling and designing systems that address these challenges.
The process of creating representations of how users will interact with a system, including the flow of interactions and the overall experience. Crucial for planning and optimizing user interactions and experience.
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
Detailed, Estimated, Emergent, and Prioritized (DEEP) is an agile project management framework for a well-maintained product backlog. Important for maintaining a clear and actionable backlog in agile methodologies.
A professional responsible for the strategy, roadmap, and feature definition of a product or product line, ensuring it meets market needs and business goals. Essential for guiding the development and success of products from conception to market.
A productivity technique that involves tackling the most challenging task first thing in the morning. Important for boosting productivity and overcoming procrastination.
A visual technique used in Agile development to arrange user stories in a way that helps teams understand the user journey and prioritize work effectively. Crucial for ensuring that development efforts are aligned with user needs and priorities throughout the project.
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
Statement of Work (SOW) is a formal document that outlines the scope, objectives, deliverables, and timelines for a project. Essential for defining project expectations and ensuring all parties have a clear understanding of their responsibilities.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
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.
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
The process of assigning target keywords to specific pages on a website to optimize each page for relevant search terms and improve overall SEO strategy. Crucial for creating a structured and effective SEO strategy.
An ongoing process of learning and development that enables individuals and organizations to adapt to changing environments and requirements. Crucial for staying current with industry trends and improving skills and knowledge.
The process of anticipating future developments to ensure that a product or system remains relevant and functional over time. Essential for designing durable and adaptable products.
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 concise statement of what the team aims to achieve during a sprint, providing direction and a shared understanding of the sprint's purpose. Crucial for ensuring team alignment and focus on the most important outcomes during a sprint.
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.
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.
Getting Things Done (GTD) is a productivity methodology that emphasizes capturing tasks, organizing them, and taking action. Essential for improving personal and team productivity and task management.
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.