Always looking for ways to improve how to prioritize features appropriately to a roadmap. Each sprint is full of items to juggle between buckets of customer requests, items that improve customer retention, or (of course) increasing revenue. Features working towards on the roadmap are no doubt important, but fixing an issue customers see out in the field could potentially improve retention and apply a greater impact to the company’s bottom line.
The 1st approach calculated “ROI” by dividing using an averaged set of “Impact” ratings using a simple 1-5 likert scale (by my Eng Lead, UX Designer, Technical Support SME, and myself) and then divided the average by “Cost” (i.e. t-shirt sizing) to find ROI. It worked reasonably well; we were able to get to a prioritized list of features, but there was a skewing towards items that were quick wins and less towards major user features.
So, taking in some of the great PM content out on in the interwebs – I took the cue for my own team by trying to find a methodology. The latest approach uses weighted-values for 2 top-level product themes and “customer satisfaction” to identifying priority for each backlog item. Thus far, the priorities for each backlog item have all passed my PM gut. Also, there’s been solid feedback from the team too.
Take a look, hope you find it useful! If you find a way to improve on it, would love to hear about it.
If you’re interested in building products for the web, Lean Analytics by Alistair Crolll and Benjamin Yoskovitz is an invaluable source & reference material.
A little more….
This is hands-down the best reference material I’ve found on the basic fundamentals of user-focused, data-driven product development on the web. It does a wonderful job advising prospective builders to form solid growth habits that have a habit of sticking around for the long-term, IMO.
On a personal level, its helped me form better data-driven habits. I’m a 1-2 year old product manager; still learning to be great. After reading the book, its pushed me up a level in terms of knowing what to look for and having a solid approach to product-level conversations. My answers are better focused, I receive praise for my insights far more often, my responses are much more analytical and data-driven, and I just feel confident in my responses.
So, how does the book help form good habits? Well, it takes the theory of Lean Startup and applies it into pertinent case studies (e.g. Media/Ad, UGC, SaaS, E-Commerce, Mobile Apps, and Two-Sided Marketplaces sites). From there, Croll and Yoskovitz append those studies with examples from the industry. There’s some good guidelines overlayed throughout the book too. Can’t ask for much more.
Now, I don’t think anyone should completely take Lean Startup & Lean Analytics to be the end-all, be-all to product development on the web. Its an experiment-focused product development process that works well with small, dedicated teams with little to no dependencies. I recommend having your own opinion on what works for you and your team and applying what you learn in the book to your own process. You’ll see a measurable difference in the quality and speed of your team’s work in building product.