This is a fantastic lecture by Luke Hohmann, CEO of Enthiosys, an Agile Product Management Consulting firm. In this seminar, Luke talks us through the process of Creating and Prioritising a Product Backlog in a way that drives Profit.
He covers the following topics:
Creating a Product Backlog
- Market Research Process (focuses on the the ‘who’ and the ‘what’)
- User Research Proces (focuses on the ‘how’ and ‘why’)
Prioritising a Product Backlog for Profit
- What is the ‘Business Value’?
- Using attributes to identify the relative value of one or more backlog items e.g. Cost, Risk, Timescales
- Identifying the relative value of these attributes – does this value change on a release-by-release basis? e.g. Seasonal Value? Event-based?
- Considering the product lifecycle – e.g. you may prioritise Sales-led items in a young product, you may prioritise Service-led items in an older product
- Return on Investment = (Gain – Cost) / Cost (It’s not always easy to quantify the ‘gain’)
- The benefit of using the INVEST acronym to create your User Stories > Product Managers love them, Clients don’t love them
- Who are the stakeholders that you need to satisfy (e.g. internal/external)
- Using Personas to assist you in the prioritisation process
- Using small groups comprising a cross-section of your stakeholder groups to prioritise your Product Backlog (no more than 40-50 backlog items per group)
- Using the ‘Innovation Game’ to prioritise the backlog – have customers ‘Buy a Feature’ – they may need to pool cash to get what they want
- The importance of Strategic Allignment in the prioritisation process
- The 7 core value-exchange models for software > What could you do more of to make more money?
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