Prioritising for Profit – Creating and Prioritising Product Backlogs

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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