How to Define a Product MVP by Stretto PM
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Main takeaways: - Walk you through real case study of how an MVP was negotiated, defined and delivered - Why Minimal Viable Product helps reduce cost and time to market, mitigate risk and increase ROI - How MVP's provides business with a flexible approach thus allowing to adapt change.
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How to Define a Product MVP by Stretto PM
- 1. www.productschool.com How to Define a Product MVP by Stretto PM
- 2. Join 40,000+ Product Managers on Free Resources Discover great job opportunities Job Portal prdct.school/PSJobPortalprdct.school/events-slack
- 3. CERTIFICATES Your Product Management Certificate Path Product Leadership Certificate™ Full Stack Product Management Certificate™ Product Management Certificate™ 20 HOURS40 HOURS40 HOURS
- 4. Corporate Training Level up your team’s Product Management skills
- 5. Sanjay Sahni T O N I G H T ’ S S P E A K E R
- 6. Inspiration To make world a better place: ● Help build awesome software products ● Love working with teams ● Teach Isha Hatha Yoga ● Build and Fly RC planes
- 8. Why Minimal Viable Product?
- 10. Scope Creep Change of Scope after project execution is started
- 11. Cost Cost or Budget or Resources
- 12. TIME The amount of time allotted to complete the deliverable
- 13. Return On Investment a. Monitory -- Release to Earn b. New discoveries - Release to Learn c. Growth - Increase in User Base d. Happy Clients, Happy Team
- 14. Software Product Terrain Scope Change Time of Delivery Cost Of Delivery Customer Feedback Scalability Return On Investment Go To Market
- 15. How to navigate through this terrain?
- 16. AGILE
- 18. Quick Agile Review Refinement & Planning - Understandings & Agreements Sprints - Lock Scope, Cost & Time Sprint Review, Retrospectives Feedback & Adapt Sprint Cycle - Usually 2 weeks. Can be one to four weeks
- 19. Execution Cycle ONE WEEK SPRINT FOUR WEEK SPRINT
- 20. Product Success
- 21. First Sprint to Success 1. How to navigate towards changing goal? 2. How to adapt? 3. How to get intelligent user feedback? 4. How to shorten ROI path? The answer can be a MVP approach
- 22. SPRINTING TO SUCCESS - Incremental Changes SPRINT 1 SPRINT 2 Many Sprints to Product Success Intelligent User Feedback Deliver Business Value Change and Adapt Early ROI Quick Time To Market
- 23. Minimal Viable Product HOW TO BUILD A
- 24. Stretto 1. Bankruptcy Management Firm 2. Mid Size Company 3. Transforming from Waterfall to Agile shop 4. Co-located in Irvine, Poland, India, New York
- 25. Problem 1. Rapid Growth - Scalability 2. Determine cost for each case 3. Generate Invoicing 4. Bill the client
- 26. Generate Cost Per Case 1. Time Sheet Entry 2. Define Roles & Permissions 3. Generate Reports for monitoring and pricing 4. Timesheet Lock Functionality 5. Internal Employee and External Employee 6. Login and Privileges 7. Import Time Entries from Excel 8. Cost = Hours * Dollar Amount ( Role Based)
- 27. Persona’s 1. Clerk - Timesheet Entry User 2. Director - Monitoring, Reports. Super User(edits) 3. External Employee - Timesheet Entry 4. Internal Employee - Timesheet Entry 5. Operations - Invoice Generation.
- 29. Process of defining MVP 1. Identify business Value 2. Planning board with high level user stories a. Excel b. Stickies c. Any other collaborative tools 3. Calendar Planning Meetings 4. Engage StakeHolders & Technology Reps 5. Refine, Define, Schedule
- 30. Challenges 1. MVP may change - refinements, boundaries 2. MVP is a Final Product (false notion) - Manage Expectations 3. It takes effort to find clear business values 4. How to create an impactful MVP: a. Release to Learn b. Release to earn 5. Every Persona may have entirely differant perception of business value.
- 31. Benefits of MVP 1. Creates value in early on 2. Infuses trust amongst business and technology 3. Establishes trust and strong relationships 4. Provides intelligent and actionable feedback a. Improvements in dev, qa process b. Enables User Centered Testing c. Reduces Risk to final delivery: Ex: AWS d. Process from inception to deployment is validated
- 32. www.productschool.com Part-time Product Management Training Courses and Corporate Training
Editor's Notes
- If you’re interested to connect with other Product Managers, aspiring PMs, or those within tech, join our Slack community of over 40,000 professionals. It’s a great place to network and to find interesting content. We host a weekly AMA through our Slack channel on Tuesdays from 11:15am - 12pm PST. We have also recently launched the Job Portal where you can find the latest Product Management opportunities! As members of the Product School community, we'd like to provide you with these resources at your disposal.
- Product School’s Product Management Certificate Path comprises of 3 part-time courses for professionals with strong technical or business background who want to further explore Product Management at software-based companies. During Product Management Training you will first learn Product Management fundamentals to understand the software product lifecycle and what it takes to successfully transition into a product management role. You’ll then be trained to retrieve data, understand its value and make impactful decisions with SQL, data visualization and Tableau. Learn to understand your users to deliver exceptional UX/UI design and develop a robust digital marketing plan. During the Full Stack Product Management Training, you will deep dive into the technical knowledge to enhance your ability to work with agile teams. Finally, Product Leadership Training will elevate your product knowledge to become an effective Product Leader. You'll do an in-depth analysis on how to implement best PM practices on a strategic level to significantly impact your company’s portfolio and revenue. Learn the soft skills to manage product teams and manage stakeholders to deliver performing products.
- As well as individual courses we provide corporate training across the world! If you’d like to upskill your product team this is the best option for you. We have trained employees from multiple companies such as Deloitte, Salesforce, JP Morgan, Bank of America amongst many other companies across all industries.
- Feel free to speak with me and I can point you in the right direction (explain where to apply). Or you can visit www.productschool.com Have a good night!