The systematic identification, analysis, planning, and implementation of actions designed to engage and influence stakeholders in a project. Crucial for maintaining positive relationships and ensuring stakeholder support throughout the project lifecycle.
The process of identifying and assessing the influence and interest of various stakeholders in a project, to prioritize engagement and communication strategies. Crucial for effectively managing stakeholder relationships and ensuring project success.
Conversations with key stakeholders to gather insights, expectations, and feedback, ensuring their needs are understood and considered in the project. Essential for aligning project goals with stakeholder needs and obtaining valuable input for decision-making.
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line. Crucial for ensuring diverse input and alignment on product strategy and decisions.
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.
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and 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.
The practice of being open and honest about operations, decisions, and business practices, fostering trust and accountability. Essential for building trust with users and stakeholders and ensuring ethical business practices.
A high-level description of a system's structure and interactions, focusing on its market-facing aspects rather than technical details. Useful for communicating the value and structure of a digital product to non-technical stakeholders and aligning with market needs.
A demonstration of the new features and functionalities of a product release, typically used to showcase progress and gather feedback before the official launch. Crucial for validating product features and gathering stakeholder feedback before a full release.
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
A document that provides a high-level overview of a product, including its objectives, target market, key features, and requirements, used to guide development efforts. Essential for ensuring that all stakeholders have a clear and consistent understanding of the product.
A visual representation of information or data designed to make complex information easily understandable at a glance. Important for communicating insights and data effectively to stakeholders and users in digital product design.
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.
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.
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.
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.
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.
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.
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.
Digital Asset Management (DAM) is a system that stores, organizes, and manages digital assets, such as images, videos, and documents. Essential for maintaining and leveraging digital content efficiently in product design and marketing.
The fundamental guidelines and practices that underpin effective change management, ensuring successful implementation of changes. Important for providing a structured approach to change management initiatives.
The planning and preparation to ensure that an organization can continue to operate in case of serious incidents or disasters. Crucial for minimizing disruptions and maintaining critical functions during and after unexpected events.
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 meeting where the Agile team discusses and decides what tasks will be completed in the upcoming sprint, establishing a clear plan for the sprint's duration. Crucial for ensuring the team is aligned and has a clear understanding of the work to be done in the sprint.
A strategic plan that outlines the goals, milestones, and steps needed to deliver a product that achieves desired outcomes incrementally, providing a clear path forward. Essential for guiding product development and ensuring alignment with strategic objectives.
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.