Numeronym for the word "Virtualization" (V + 12 letters + N), creating virtual versions of physical resources, such as servers, storage devices, or networks, to improve efficiency and scalability. Crucial for optimizing resource use and improving scalability.
A Japanese word meaning any activity in a process that consumes resources without adding value. Crucial for identifying and eliminating inefficiencies to optimize workflows and resources.
The study of finding the best solution from a set of feasible solutions. Crucial for improving efficiency and performance in design and development processes.
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.
A principle in lean management aimed at reducing non-value-added activities to improve efficiency. Important for optimizing processes and resource use.
A heuristic where individuals evenly distribute resources across all options, regardless of their specific needs or potential. Useful for understanding and designing around simplistic decision-making strategies.
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.
A Japanese word meaning excessive strain on people or processes. Crucial for preventing burnout and maintaining sustainable work practices.
The mathematical study of waiting lines or queues. Useful for optimizing user flow and reducing wait times in user interfaces.
A cognitive bias that causes people to believe they are less likely to experience negative events and more likely to experience positive events than others. Crucial for understanding user risk perception and designing systems that account for unrealistic optimism.
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome. Important for understanding decision-making behaviors and designing systems that guide better resource allocation.
Cost Per Objective Option (CPOO) is a metric used to measure the cost efficiency of different marketing options based on achieving specific objectives. This metric is crucial for optimizing marketing spend and measuring campaign effectiveness.
The orchestration and optimization of design operations to improve efficiency, quality, and impact of the design function within an organization. Crucial for enhancing the efficiency and effectiveness of design teams.
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.
The day-to-day activities required to produce goods and services, manage resources, and support business functions. Essential for ensuring efficient and effective functioning of an organization.
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.
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.
The process of phasing out or retiring a product or feature that is no longer viable or needed. Important for managing the lifecycle of digital products and ensuring resources are allocated to more valuable initiatives.
A methodology that focuses on minimizing waste and maximizing value in business processes. Essential for improving efficiency, productivity, and customer satisfaction by eliminating non-value-adding activities.
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
The strategies and tools used to ensure that sales, marketing, and customer service teams have the necessary resources to effectively promote and support a product. Essential for aligning internal teams and ensuring successful product adoption and customer satisfaction.
The process of planning, executing, tracking, and analyzing marketing campaigns. Essential for ensuring the success and efficiency of marketing campaigns.
The time it takes for a webpage to load and become interactive, impacting user experience and search engine rankings. Essential for improving user satisfaction and SEO performance.
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 origins of visitors to a website, such as search engines, direct visits, social media, and referrals from other sites. Crucial for understanding and optimizing website traffic and marketing strategies.
A hybrid Agile project management framework that combines elements of Scrum and Kanban to improve flexibility and workflow management. Useful for teams seeking to blend the structured approach of Scrum with the visual workflow of Kanban.
A professional responsible for overseeing and optimizing a company's portfolio of products, ensuring they align with strategic goals and market demands. Crucial for managing a diverse range of products and maximizing their market impact.
Integrated Business Planning (IBP) is a process that aligns strategic, operational, and financial planning to optimize business performance. It ensures cohesive and efficient planning across all functions.
A principle stating that 80% of effects come from 20% of causes, often used to prioritize tasks and identify key areas of focus. Essential for prioritizing tasks and focusing efforts on the most impactful areas.
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
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 Lean methodology concept identifying seven types of waste in processes to improve efficiency. Valuable for product managers and engineers to optimize processes and eliminate inefficiencies.
Enterprise Project Management (EPM) is a comprehensive approach to managing projects across an entire organization. Essential for coordinating complex, cross-functional projects and achieving organizational objectives.
The use of software to automate repetitive marketing tasks and workflows, improving efficiency and effectiveness. Essential for streamlining marketing processes and increasing productivity.
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
A tool in Google Search Console that allows webmasters to instruct Google to ignore certain backlinks, typically used to combat negative SEO. Crucial for maintaining a healthy backlink profile and protecting against negative SEO practices.
The use of technology to perform repetitive tasks or processes in a workflow, liberating skilled experts from tedious activities and empowering them to focus on higher-order problem-solving and creative tasks. Crucial for streamlining operations, reducing human error, and enhancing the overall efficiency and innovation capacity of product design teams.
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
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 cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions. Crucial for understanding user decision-making behavior and designing systems that highlight opportunity costs.
The process of managing multiple related projects in a coordinated way to achieve strategic business objectives. Crucial for ensuring alignment and efficiency across multiple projects to achieve broader goals.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
The stages a product goes through from introduction to growth, maturity, and decline, influencing marketing and development strategies. Crucial for planning product development and marketing strategies at each stage of the product's life.
Enterprise Resource Planning (ERP) are integrated software systems that manage business processes across various departments, such as finance, HR, and supply chain. Essential for improving operational efficiency and providing a unified view of business operations.
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
Also known as Parkinson's Law of Triviality, is the tendency to spend excessive time on trivial details while neglecting more important issues. Crucial for improving project management and team efficiency.
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.
A measure used in Agile project management to quantify the amount of work a team can complete in a given sprint, typically measured in story points. Crucial for planning and forecasting in Agile projects and understanding team capacity.
A framework that defines how an organization operates across various functions to deliver value to customers and achieve business objectives. Crucial for aligning organizational functions and processes with strategic goals.
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome. Important for designing user experiences that accommodate decision-making under constraints.
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 professional responsible for overseeing and coordinating multiple related projects to ensure they align with organizational goals and deliver strategic value. Essential for managing complex initiatives and ensuring successful delivery of business objectives.
The practice of measuring and analyzing data about digital product adoption, usage, and performance to inform business decisions. Crucial for making data-driven decisions that improve product performance and user satisfaction.
The reduction in sales of a company's existing products due to the introduction of a new product by the same company. Crucial for understanding product strategy and market impacts of new product introductions.
Zero Moment of Truth (ZMOT) is a concept in marketing that refers to the point in the buying cycle when the consumer researches a product before the seller even knows they exist. Crucial for understanding consumer behavior and optimizing marketing strategies to influence decision-making at this early stage.
A focus on the results or benefits of a project rather than the activities or deliverables produced. Crucial for ensuring that efforts are aligned with achieving meaningful results.
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.
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
A unit of measure used in Agile project management to estimate the relative effort required to complete a user story or task. Crucial for planning and managing workload within Agile teams.