Glossary: Product Management
Hand-picked product management terms, definitions, and frequently asked questions. Each product management term is defined and explained simply by our research team.
A
A Product in Product Management
A product in product management is the result of work produced by a management team. It offers clients an innovative item or service with unique features. A product can be organized into different categories depending on its functions and purpose.
A/B Test
An A/B test is an essential comparative process used to identify which version of two items is most effective, such as PPC ads, landing pages, and more.
AARRR Framework
AARRR stands for Acquisition, Activation, Retention, Referral and Revenue. Bringing these metrics together in the AARRR framework helps start-ups to grow and scale.
AI Customer Feedback
AI customer feedback using artificial intelligence techniques to analyze and process customer feedback data.
API
API is an initialism for application programming interface. An API allows two different applications to speak to each other, by acting as a software intermediary that can both send and receive information.
Action Priority Matrix
The Action Priority Matrix is a diagrammatic framework which helps product managers to prioritize their tasks and make the best use of their limited time. It does this by plotting the impact of a task against the effort it requires.
Affinity Diagram
An affinity diagram is an organizational tool used to consolidate large volumes of information or data according to their similarities, or affinities.
Affinity Grouping
Affinity Grouping is a collaborative tool used for gathering qualitative data and sorting it based on shared themes. The process also involves prioritizing the groups formed and agreeing on actions that should be taken based on the results.
Agile Product Management
Agile product management is a style of project management that involves incremental progress and adaptive strategies. It allows the vision for a product to evolve as the product is developed and launched.
Amplitude
Amplitude is a product intelligence app that gives companies greater insights into the relationship between their customers and their product. This allows businesses to make data-driven decisions, to improve their marketing, and their customer retention.
B
Behavioral Product Management (BPM)
The application of the study of human psychology to product design.
Beta Test
A limited release of software or an application to assess it for bugs and other issues before it is released generally.
Bill of Materials (BOM)
A bill of materials is an exhaustive list of the components, parts, and raw materials required for manufacturing a product.
Boston Consulting Group (BCG) Growth-Share Matrix
The Boston Consulting Group growth-share matrix is a prioritization tool that focuses on business value.
Bubble Sort
Bubble sort is a beginner's algorithm in programming that can be used throughout your career. It sorts data from high to low (or low to high) by comparing each element to the one that comes after it.
Bucket Sort
Bucket Sort is a sorting algorithm that separates elements in a dataset into different buckets (also known as categories or bins). The buckets are then sorted individually and recombined to produce the final, sorted dataset.
Bugs
Bugs are issues that disrupt a software’s performance, in one or more ways. Bugs may be small enough to go unnoticed until a product hits the market, or big enough to render software unusable.
Business Intelligence (BI)
Business Intelligence refers to the uncovering, interpreting and application of relevant data and information to help businesses make better decisions.
Business Model Canvas
A short summary containing strategic details of the requirements to get a product to the marketplace.
Business-to-Business (B2B)
Business to business is a transactional model that describes companies who sell products or services to other companies.
Business-to-Consumer (B2C)
Business-to-consumer is the most popular commerce model in the business world. It is used to refer to companies that sell products or services directly to individual consumers.
C
CIO vs CTO
A CIO or Chief Information Officer is internally focused on the company and technology infrastructure, whereas a CTO or Chief Technology Officer is externally focused on customers and technical products.
CIRCLES method
The CIRCLES method is the framework used by product managers to answer design questions. It also acts as a checklist to help product managers consider user needs.
CRC cards
CRC cards are visual tools used to brainstorm and better understand the role a software product can play for a certain group (“class”) and how it can allow them to perform jobs (“responsibilities”) with other members of their team (“collaborators”)
Cannibalization
Product cannibalization is when a company has several products that compete with one another within the same market.
Captive Product Pricing
When pricing captive products, businesses usually follow a twofold strategy that combines a lower price for the core product with a higher price for accessories or replaceable items.
Card, conversation, and confirmation (3 C's)
Product teams can use the 3 C’s framework to better manage and resolve user stories following the steps ‘Card’, ‘Conversation’, and ‘Confirmation’.
Change Management
A methodical approach to aiding staff covert from one system or process to another.
Chief Product Officer in Business
In business, Chief Product Officer, or CPO, is the title given to the executive team member who is responsible for leading the entire product organization.
Competitive Matrix
A competitive matrix is a visual representation of your company’s competitive analysis data.
Concept Review
A concept review is a discussion where you evaluate different or competing concepts and decide which ones you're going to invest in and see through to completion.
Cost of Delay (CoD)
The Cost of Delay is a prioritization framework that helps product managers make informed decisions by weighing in the monetary implications of being late to market.
Critical Path Method (CPM)
The critical path method is a modeling algorithm designed to help product managers escape inefficient scheduling and gain a clear overview of all tasks at hand.
Customer Advisory Board (CAB)
A customer advisory board is a group of customers brought together by a business to provide expert advice and share insights about its products and services.
Customer Development
A framework that assesses whether or not the product fulfills the customer’s needs.
Customer Empathy
Customer empathy is the ability to see the world through your user’s eyes. This understanding helps you see where your product fits into their lifestyle, and where it can really add value.
Customer Journey Map
A customer journey map outlines each step, across all touchpoints, that a user takes to interact with or buy from your product, service or brand. Customer journey maps can increase empathy with users and reveal areas for added value.
Customer Requests
Customer requests are queries directly from customers about a product. They can include bug reports, product improvement requests, and new product feature requests.
D
DACI Decision-Making Framework
The DACI Decision-Making Framework is a model designed to make group decision making faster and more effective by assigning specific roles to team members. These roles establish clear responsibilities and help avoid unhealthy disagreements.
DHM Product Strategy
DHM product strategy asks product teams to answer three core questions: 1.) How will the product create delight? 2.) What makes it hard to copy? and 3.) How does it improve margin?
Data Product Manager
A data product manager is an emerging role in product development. A data PM is responsible for championing data-driven insights in design, and actively leveraging the flow of data, too.
Data Strategy Roadmap
A data strategy roadmap is an organizational tool for all of your goals, metrics, and ideas surrounding how your business collects and uses data.
Dependency
A dependency describes the relationship among activities and specifies the particular order in which they need to be performed.
Design Concept
A design concept establishes the core idea of driving the design and development of a product. It outlines what a product is, who it’s for, and how it works.
Design Ops
Design ops applies to the process of organizing and optimizing a design team’s workflow, structure, and processes to maximize its value to a company as a whole.
Design Thinking
Design Thinking is a user-centric approach to innovation and problem solving. Focused on empathizing with users, Design Thinking is concerned with developing meaningful products that keep users’ genuine wants and needs at heart.
DevOps
Principles used to transform a workforce mindset so that it can better communicate and collaborate in developing and releasing a product.
Digital Product Management
Digital product management is the process of bringing digital products from idea to market.
Digital Roadmap
A digital roadmap is a blueprint that maps out the processes and technologies needed to move your business from its current state to a more optimized future version in line with your objectives.
Digital Transformation
Digital transformation refers to the integration of digital technology into all areas of a business to redesign processes and products for the digital age.
Director of Product
As the name suggests, a Director of Product is the person who leads and oversees the complete product development lifecycle, guiding others and ensuring the product is delivered on-spec and on time.
Disruptive Innovation
Disruptive Innovation refers to a product or solution that establishes a new market, business model, or industry (ultimately, “disrupting” those that already exist).
Distribution Models
A distribution model shows how products go from manufacturer to retailers and include every step along that path.
E
End-to-End
End-to-end has several definitions, but most simply refer to the entire product journey, from initial conception to market launch and beyond.
Enterprise Architecture
Enterprise architecture is a practice wherein a business makes decisions on how to handle various scenarios, typically disruptive ones. This enables businesses to quickly respond to critical situations with an informed and effective approach.
Enterprise Feedback Management
What Is Enterprise Feedback Management? Definition and Examples
F
Feature Flags
Used within software product development to change and deliver programming code.
Feature Adoption
Feature adoption is a metric used to see how many users actually use product features.
Feature Audit
A feature audit provides businesses with a quick snapshot of their product's feature usage. Using a graph that plots customer activity on two axes, they outline how features are performing.
Feature Bloat
Feature bloat relates to products carrying excessive features, perhaps becoming overloaded to a point that core functions are impaired.
Feature Factory
A feature factory is a company that consistently comes out with new features for an existing product. This is a derogatory term, as it implies that the features are poorly implemented or simply not necessary, and only serve to prop up a mediocre product.
Feature Request Management
Feature request management prioritizes customer feature requests to help businesses grow and improve products.
Feature Roadmap
Feature roadmaps keep track of the evolution and delivery of a product's important features. These roadmaps are intended to inform team members and external stakeholders about the direction and status of the feature development.
Features
Features are the defining attributes of a product that make it valuable to customers and distinguish it from the rest of the market.
Features, Advantages and Benefits (FAB) Analysis
A FAB analysis describes the features, advantages and benefits of a product, and how they work together to help differentiate a product within the market.
Five Whys (5 Whys)
The Five Whys is a technique used to understand the root cause of problems, and identify counter-measures that prevent them happening again. It focuses on rectifying underlying issues rather than their symptoms.
G
GIST Planning
This is a minimal product planning concept that stands for Goals, Ideas, Step-Projects, and Tasks.
Get Out of the Building
Instead of getting involved in sales or design, startups first need to “get out of the building” and meet potential customers to better understand their market.
H
HEART Framework
The HEART framework is a methodology designed to improve and assess the user experience of software. It is an acronym based on five customer-centric metrics which help designers focus and direct development to ensure a great customer experience.
Hard Skills
Hard skills are teachable abilities or skill sets that are required for a particular occupation. This could be a full understanding of the Adobe Suite, coding ability, SEO or bookkeeping.
I
IT Product Management
In information technology, product management consists of defining, conceiving, delivering, refining, and monitoring products in a market to achieve maximum business results.
Idea Management
This is a mechanism within an organisation for harvesting and analysing concepts to potentially develop.
Ideal Customer Profile (ICP)
An ICP outlines the key characteristics of the customer, such as their demographics, behavior patterns, needs, and pain points.
Ideation
Ideation involves generating ideas through group brainstorming sessions, which may include sketching and roleplay.
Impact Mapping
A graphic or schematic method for planning which features will be incorporated into a product.
Implicit Requirements
Implicit requirements are those features of a product or app which are so fundamental that they don’t need to be explicitly specified during development.
Incremental Product
An Incremental Product is one which has been developed over time via a series of small upgrades or improvements. This process is known as incremental product innovation.
Information Flows in Product Management
In product management, info flow is the strategy of making sure that everyone working on a product is on the same page. PMs who use strong info flow tactics can avoid miscommunications, reduce emergency meetings, and ensure a smoother development process.
Innovation Roadmap
An innovation roadmap is designed to visualize the steps and goals required for a team to achieve an innovation project.
Internal Product Management
Internal product management involves various processes within the company. Employees of the company become the consumers of the internal product management. This process is designed to improve the company’s inside processes and increase the business value.
J
Jira
Jira is a tool for agile project development. It comes with a range of features, including customer support ticketing, bug tracking, and task assignment and monitoring.
K
L
M
Market Requirements Document (MRD)
This is a document that attempts to identify demand for a product.
Market Validation
Market validation is the process of verifying a product of concept with a target market, usually via interviews.
Mind Map
A mind map is a brainstorming tool which allows you to explore a central idea, and all of its related topics, in a non-linear way.
Minimum Requirements for a Feature
The minimum requirements for a feature include the beneficiaries, the benefit hypothesis, and acceptance criteria.
Minimum Viable Experience (MVE)
The term MVE: Minimum Viable Experience refers to how a customer feels when they interact with a brand’s MVP (Minimum Viable Product).
Minimum Viable Feature (MVF)
An aspect of a product that is experimental and includes the smallest possible attributes.
Mission Statement
A mission statement is a clear definition of a business, its goals, its ethos, its reasons for being and its primary customers.
Mixpanel
Mixpanel is a popular SaaS tool used to monitor customer behavior. It offers high reliability and deep insights. Businesses can use Mixpanel to understand their customer engagement, track trends among their users, and optimize their marketing.
N
O
OKR Roadmap
While OKRs and roadmaps share some common elements, they’re really quite different methods of tracking product development. But is there room for both?
OKRs vs KPIs
OKRs vs KPIs — they’re both great performance metrics, but what’s the difference between them?
Operational Roadmap
An operational roadmap is a long-term plan that summarizes a team or department’s intended activities and operations.
Operations Management
Operations management refers to the business field responsible for the administration of all practices in the business to optimize overall efficiency within a company.
Opportunity Scoring
Opportunity Scoring is a prioritization method, based on user-assigned importance and satisfaction ratings. Product teams can use opportunity scoring to refocus product roadmaps, improving the value of the product overall.
P
Persona
A persona is an imaginary profile designed to represent the details of a set of end-users.
Personalization
Personalization is the act of tailoring a service or a product to accommodate a specific individual or group.
Pitching a Product
Pitching a product is the process of trying to get investment for a new product launch by selling it to potential investors. A sales pitch is designed to explain the product and how much investors are expected to make.
Pivot
Pivot is a strategy that is used to redirect the business objective of a project or product.
Platform Product Management
Platform product management is an essential component of the whole management system of any well-developing company.
Platform Product Manager
A Platform Product Manager is responsible for the management of not just a single application, but an entire platform. Examples of these platforms include operating systems, operating environments, and web services.
Porter's Five Forces
Porter's Five Forces is a tool that helps businesses identify their competitive advantage in a particular landscape.
Portfolio Roadmap
A portfolio roadmap is a high-level visualization of a business’s initiatives, either on a product or project level. It should cover all products mapped against your business objectives and link to product-specific roadmaps and projects.
Prioritization
This is a process by which a set of tasks are assessed for the order in which they will be developed.
Priority Poker
Priority Poker / Planning Poker is a technique designed to help product teams prioritize their backlog in a way which is fair, democratic and a little gamified.
Product Architecture
A product architecture map uses basic geometric shapes to express the functionality of a product. This allows the developers and designers to hone in on the right functional choices without being too concerned about the aesthetics of the product.
Product Attributes
Product attributes are details about a product that help marketers sell the product and customers make a purchasing decision.
Product Brief
A product brief is the first step towards building a high-quality product. It sets the course to success by aligning all product teams under a unified strategy.
Product Category
A product category is the easiest way for a business to group products together based on similar characteristics. That could be by product type, a product feature, or a customer need.
Product Culture
Product culture refers to the philosophy behind a product’s development. Product culture covers concepts such as innovation, customer focus, and product management principles.
Product Description Sheet
A product description sheet defines the scope of a product in specific terms. The document is used during the planning phase to create a clear idea of what the final product should look like, and is then passed on to the development team for execution.
Product Design
Product design refers to the process of conceptualizing, creating, launching and improving upon a product that solves a user problem (while adding value to the business). Winter coats are an outcome of product design, as is the laptop computer.
Product Development Lifecycle
The product development lifecycle is the series of stages that a product goes through, beginning with product development and ending with the obsoletion of that product.
Product Development Manager (Pdm)
A Product Development Manager (PDM) is responsible for researching, assessing, and coordinating the development of innovative and compelling new products. They also work on the development and improvement of existing products to better meet customer needs.
Product Development Process
A Product Development Process can be described as all of the stages that must be completed by a business in order to take a product from its idea germination through to the point at which it becomes available on the market.
Product Differentiation
Product differentiation is how a business distinguishes a service or product from others that are available in the same category.
Product Discovery
Product discovery is the customer-centric process of determining whether or not a product or feature should be developed. It requires in-depth customer knowledge, to identify and validate which user problem(s) a build could solve.
Product Disruptor
A product disruptor is an innovation that adds new value to a business, by future-proofing against market threats, competitor rivalry or customer behavior change.
Product Enablement
Product enablement increases awareness and understanding of a business’s product(s) across the entire organization, with the aim of making each and every employee higher performing.
Product Excellence
Product excellence refers to a framework for developing a product or feature based on a deep understanding of user needs. Product excellence enables businesses to innovate more efficiently, enabling them to get the right products to market quickly.
Product Goals
Product goals are the accomplishments you need to achieve to bring a vision from theory to reality.
Product Launch
A product launch describes the time a new product, good or service first hits the marketplace — and how it performs in the months that follow. Many teams will be involved in a successful product launch, including marketing, sales, finance, and development.
Product Levels
Product levels provide a way to visualize customers' needs about a particular product. They can be psychological needs or core needs.
Product Lifecycle
The product lifecycle is the journey each product takes from the inception of an idea all the way through to a product’s retirement.
Product Line
A product line represents the products that a company creates using a single brand. All products in a product line share traits and are designed for the same target market.
Product Management Audit
A comprehensive assessment concerning the processes and strategy of an organisation’s product management.
Product Management Process
The product management process refers to the sum of strategies that concentrate on launching a new product or improving an already existing one.
Product Management Talent
Product Management Talent refers to a selection of candidates who have the skills and qualifications required to be successful in a particular product role.
Product Management Tools
Every product team requires the right product management tools to do their job. Every individual product stack is different, but the specific tools product managers use during development are often common across all organizations.
Product Manager
A product manager is responsible for the success of a product. The product manager has profound knowledge on the developed product and everything that goes with it.
Product Marketing Manager
This is the person who’s chief objective is to broadcast the value of the product to the market.
Product North Star
In product management, a product north star is a measure of how well the development team is solving customer problems in a way that supports the organization’s business goals.
Product Ops
Product ops, referring to product operations, supports a cross-functional product team to constantly ensure and improve their efficiency.
Product Owner (PO)
The product owner (PO) represents next to the ScrumMaster and the development team a key player in a Scrum team.
Product Pillars
Product pillars define a product's identity and value proposition, making decision-making easier.
Product Planning
Product planning encompasses the internal processes that need to happen for a product to move through ideation, design, development, and deployment.
Product Portfolio Management
This refers to the strategic administration of all the products owned by the organization.
Product Principles
Product principles form the foundation for your products that helps guide development.
Product Process Matrix
The product-process matrix is a visual tool that helps product teams understand the relationship between their product and the steps of their product development process.
Product Requirements Document
A product requirements document (PRD) is a detailed outline of all functionalities a software product must fulfill when being delivered.
Product Requirements Management
Product requirements management refers to the process of collecting, analyzing, tracking, and prioritizing product requirements. These requirements are usually communicated later on to key stakeholders.
Product Roadmap
Product roadmaps the vision and strategic objectives for a product over time. They give development teams and stakeholders a ‘single source of truth’ that captures all the steps needed to deliver against objectives.
Product Roadmapping Process
The product roadmapping process is the process of creating a visual summary of the vision and direction of your product offer that serves as an executive guide for your product development team.
Product Spec
A product spec provides teams with critical information to guide them as they bring products to market, covering such contextual details as the target audience, user goals, and intended outcomes.
Product Stack
This refers to the tools that a product manager has at their disposal in order to get the product to the marketplace.
Product Strategy
A product strategy is your business’s goal(s) for a product and the in-depth process for achieving success
Product Strategy Canvas
A product strategy canvas is a tool to help communicate and develop your product strategy.
Product Strategy Framework
A product strategy framework represents a plan which describes what and how a company hopes to achieve with their product.
Product Strategy Pyramid
The product strategy pyramid is a visual tool that helps define your product strategy.
Product Tree
The Product Tree is a visual tool used by product managers to prioritize and manage product feature inputs from both customers and stakeholders.
Product Vision
A product vision aims to describe the future state of a product. It is the core essence of the product.Ideally, the product vision will serve as a guide for the stakeholders, as it will remind them of the general direction the product should be taking
Product-led Growth
Product-led growth is the secret behind some of the biggest names in SaaS and tech. Build your products for users first and sustainable growth will follow.
Product-market Fit
Product-market fit refers to the way in which a brand’s product is capable of satisfying the current market, by supplying enough units of a high-enough quality to meet demand.
Program Epic
A program epic is a work effort constrained to a single release train, delivered by multiple teams, and spanning multiple Program Increment (PI) iterations.
Program Management
The grouping together of multiple projects to meet a strategic objective.
Program Manager
A program manager’s essential objective is to reconcile multiple projects and teams by coordinating them and giving strategic guidance to the company’s project managers.
Program Roadmap
A program roadmap is a high-level illustration of the direction of a product management program. It is a communication tool designed by a program manager and product team to describe and depict the program's lifespan, including its many phases and goals.
Project Manager
A project manager is responsible for the execution of a project from start to finish. A project manager is often the bridge between the team, deliverables and upper management.
Q
R
R&D: Research and Development
R&D (Research and Development) is the first stage of the product lifecycle. During this phase, a product team will conceptualize and assess the viability of a new product to decide whether it is worth taking to market.
RICE framework
The RICE framework is a simple framework that helps product managers prioritize and quantify the potential value of project ideas, initiatives, and features.
Rational Product Management
Rational Product Management is a product-development approach based on the rational development method. It provides managers with a framework for planning, iterative development, and ongoing quality control, to maximize a product’s value.
Refactoring
Within the software, this is when code is cleaned, or internal structure altered, to make improvements.
Release Notes
A report that is released with a new product, a new version of a product, or an update to a product.
S
SWOT Analysis
The SWOT analysis framework assessing the strengths, weaknesses, opportunities, and threats related to business, their rivals, or their project planning. SWOT is an acronym for these four factors.
Scope Creep
Scope creep describes the tendency for projects to gradually expand, and take on a different scope of activity or output than was initially planned.
Ship Products
Shipping products is part of an iterative workflow, in which an MVP (Minimum Viable Product) is released to gather valuable feedback. This information inspires future updates to improve the product and deliver a better user experience.
Six Thinking Hats
The six thinking hats is a method used to make creative discussions more productive. It's based on the work of Dr. Edward de Bono, a widely respected psychologist and author.
Soft Skills
Soft skills are personal attributes that enhance our ability to perform our professional roles. Problem-solving, communication, and emotional intelligence are some of the most sought after soft skills.
Software Feature
A software feature represents a part of software that provides a precise capability or function for the whole software, contributing to its purpose.
Stage-gate Model
The stage-gate model is a process used to structure the product development cycle into a series of stages and gates. Each stage represents a milestone, and a gate separates each stage, where teams decide if and how to move forward.
Stakeholder
This is a person or group who can influence the success of the product, or in contrast, be affected by the product.
Stakeholder Analysis
This is an assessment of all of the people who will either have an impact on the success of the product or will be affected by it.
Stakeholder Management
The identification, assessment, and planning, of actions that are designed to engage with a business’ stakeholders.
T
Technical Debt
The accumulated later cost in the development of a project - in time and resources - of a mistake or technical decision.
Technical Product Manager (TPM)
Responsible for getting the product to market and its success or failure, and similar to a product manager but with more in-depth technical expertise.
Test-Driven Development (TDD)
Test-Driven Development, or TDD, is a software development methodology in which features are developed and tested against specific test cases in parallel, as opposed to testing after the code is completed.
The 5 Forces
The 5 forces, also known as Porter’s 5 forces, is used in strategic business modeling to assess the strengths and weaknesses of any industry. 5 forces can be used to evaluate the industry structure of a specific company along with its place in the market.
The First Source of Guidance
The first source of guidance when creating an improvement roadmap is noticing your old working strategies just aren’t effective anymore. Recognizing the need for change is the first step when making an improvement roadmap.
The User Is Drunk
"The user is drunk" is a unique concept in product design and development: a website or app should be so user-friendly that even a drunk user will have a pleasant experience. This can help product teams to create more streamlined, satisfying software.
Theme in Product Management
A theme in product management is a simple way to convey a product’s value, comprising multiple features or initiatives which contribute to this overall objective.
Theme-based Roadmap
A theme-based roadmap visualizes a team’s goals and plans into strategic theme, so that the highest priority tasks can be tackled first.
Top-down Product Strategy
This is a strategy based on information passed downward from leadership to the product manager.
U
UX Designer
Whilst the role of a UX designer may vary from business to business, you can think of them as an advocate users — it is the UX designer’s job to ensure the best possible user experience, in everything from purchase to packaging.
Unique Selling Proposition (USP)
A unique selling point (USP) is the key reason a customer should choose your brand, product or service — it’s what separates you from your competition.
User Experience (UX)
User experience (UX) refers to the total, end-to-end experience of using a product or service. UX designers use first-hand research to analyze every touchpoint and interaction, seeking to reduce friction and improve user satisfaction.
User Flow
User flow is the path taken by a prototypical user on a website or app to complete a task. Understanding user flow helps teams build more intuitive products.
User Persona
A user persona is a semi-fictional character created to represent different customer types that use a company’s products or services.
User Research
User research includes qualitative and quantitative means of gathering user feedback on your product or service, to guarantee what you build is not only user-centric but has the best chance of commercial success.
V
VP of product
The Vice President of Product supports an organization's Chief Technology Officer (CTO). The VP of product is responsible for leading the team to achieve strategic goals and initiatives by creating a product roadmap.
Value Chain Analysis
Value chain analysis is the process of combing through your value chain, looking for redundancies, unnecessary costs, and opportunities to increase revenue.
Value Prioritization
Value-based prioritization is an effective method used to organize the product backlog.
Value Proposition
A value proposition is an assertion of the benefits of the product to its potential consumers.
Value Stream Management
Value stream management is a management practice or technique intended to increase and optimize the flow of company value from end to end.
Value Versus Complexity
Value versus complexity is a prioritization framework assessing ideas by how valuable they are to the business and user, against how complex they will be to achieve.
W
Weighted Scoring
Weighted scoring is a framework designed to help teams prioritize outstanding tasks by assigning a numeric value to each based on cost-benefit analysis.
Weighted Shortest Job First (WSJF)
The weighted shortest job first prioritization framework looks at the cost of delaying a project against the amount of time or effort required to complete it.
What, Not How
“What, not how” is a method that emphasizes the importance of what an application will do, rather than how it will work. This helps clarify a product’s purpose, speeds up planning, and simplifies decision-making during development.
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