As a product manager, you're stepping into a role that's both exciting and daunting. My aim is to make this transition smoother for you by sharing insights from over a decade of leading product strategy and management teams. Let's dive into creating a process that not only works for you but also leverages the best practices I've gathered along the way.
Before we delve into the details of creating a roadmap, it's important to recognize that there isn't a universal approach to prioritization that works for everyone. My preferred method is a dynamic and phased process that simplifies the analysis, comprehension, and verification of problems while also aligning with business objectives.
At the heart of this approach is a deep understanding of the business objectives, which might be articulated through OKRs (Objectives and Key Results), Key Performance Metrics, North Star or any other measures your company/client prefers. This foundational step is crucial because it sets the stage for everything that follows.
Once we're clear on our goals, we turn our attention to assessing the impact of the problems we've identified on these goals. In the roadmap template I've shared, you'll notice a column labeled "Perceived Impact." This column is deliberately broad because the nature of impact varies widely depending on the goal at hand.
For example, if we're aiming to improve a specific metric, the perceived impact should directly reflect how the problem in question influences current performance. This could be quantified in financial terms or other measures, like its effect on user retention. The key is to choose a measurement that resonates with you and your team, providing clear insight into why addressing this problem is vital.
After thoroughly vetting a problem and understanding its impact, the next step is prioritizing which problem spaces to tackle first. This decision-making process is critical and should not be rushed. While it's tempting to jump straight into solution mode and draft an initiative roadmap, I've learned the importance of restraint. Understanding the problem fully and validating the need for a solution ensures that the initiatives you eventually pursue have a solid foundation. (We will get into validation methods and bets at a later as I expand this guide and talk about how we can do our best to limit risk)
It's worth noting that these documents—the problem assessments and the roadmaps—are living entities. They evolve as we gain new insights from both qualitative and quantitative analyses. Embrace this evolution; it's a sign of responsive and informed product management.
With a clear grasp of the problem spaces, we can begin to define initiatives. This stage introduces a new level of prioritization, focusing not just on the problems but on the potential impact of the proposed solutions.
I have selected these three criteria for my example, I encourage you to adjust, and add based on what is important for your product, team and stakeholders.
Not all criteria hold equal weight. Adjust their significance according to your strategic goals, ensuring the total adds up to 100%. For example: