post

Footer About

Footer Get Involved

Footer Links

Mind the Product

General

Product Unplugged Episode 3 with Pierce Healy

Product Unplugged Episode 2 with Lorilyn McCue

Product Strategy

Building Product Teams

Diversity and Inclusion

Digital Transformation

Artificial Intelligence (AI) & Machine Learning (ML)

Product Leadership

Product Management Career

Product Ethics

Minimum Viable Product

Enterprise Product Management

OKRs

Customer Research

Hypothesis and Testing

Business Strategy

User Research

👩‍🚀🚀   Live now for MTP members: <a href="https://mtp2017stg.wpengine.com/membership/#events" style="color:#FFFFFF;text-decoration:underline;">Driving Innovation AMA with Tendayi Viki</a>

Roadmaps: Break the rules without breaking the principles

Got questions about your product career?

Product roadmaps vs data – Jeremy Levy on The Product Experience

From engineering to product management at Google

Mind the Product joins Pendo

Andres is a freelance writer and digital marketer with a background in engineering and a keen interest in the latest technology advancements. He currently helps tech companies and startups tell their stories by turning their complex ideas into easy to understand material. You can reach out to him on LinkedIn

Andres Phillips

<p>In this <span style="text-decoration: underline;"><a href="https://mtp2017stg.wpengine.com/producttank-about/">ProductTank</a></span> Berlin talk, Sandra Hinz and Rainer Collet, co-founders at ValueRebels, provide a framework to help solve some typical challenges in a product organization and avoid wasting months of work.</p>
<p>Watch the video to see their talk in full, or read on for an overview of the key points:</p>
<ul>
<li>Typical challenges in a product organization</li>
<li>Value engine framework</li>
<li>What you need to implement this</li>
</ul>
<h2>Typical challenges in a product organization</h2>
<p>Product managers frequently encounter similar problems in their organization, such as creating feature factories, doing too little discovery work, prioritization, and more. For many product managers, launching a new product may involve going from backlog to one month of analysis, five months of development, two months of testing and rollout. They may then discover that the product needs to be scrapped or that it creates negative value for the company, resulting in six months of work wasted.</p>
<h2>The value engine framework</h2>
<p>With the value engine framework, product managers can deliver more value faster and at scale. Based on real-life experiences, it connects strategy and the operation process and can work for teams of 5 or 50. As a dual-track framework, it covers both discovery and delivery.</p>
<h3>Idea Phase</h3>
<p>There is hardly a company with too few ideas, and most product managers are overwhelmed with ideas. Everyone in the company should be involved in idea generation, but after coming up with 100 ideas, you need to select the most viable. Each idea should have a specific pain and gain associated with it and someone available to lead the idea before it can move onto the next phase.</p>
<h3>Selected Phase</h3>
<p>There are several ways that companies typically prioritize ideas to pursue, from management selection to quarterly goals to gut feelings. However, the selection of ideas needs to happen regularly, and neglected ideas should be removed from the idea board. This shouldn’t be a perfect step but simply a point of evaluation. Before an idea can move onto the next phase, a cross-departmental and cross-functional team should be theoretically available to work on the idea, think through its initiatives, and ensure everyone is committed.</p>
<h3>Draft Phase</h3>
<p>Next, pull selections into the draft phase. You need to reduce the uncertainty in your ideas by testing their value, usability, feasibility, and viability. The ways to help make the decision include seeing if it aligns with your product vision &amp; strategy, conducting marketing analysis, and quantitative and qualitative research. At the end of the draft phase, you should have a pre-validated concept, understand the dependencies, and know which metrics your product will affect.</p>
<h3>Hack Phase</h3>
<p>Most product teams would move from the draft phase to developing an MVP. However, a minimum measurable product (MMP) should be developed instead. This is a product that enables you to test and see how people interact with it before creating a fully functioning product.</p>
<h3>Ship Phase</h3>
<p>Once the measurements found in the Hack Phase are positive, you can then move to the ship phase, where the minimum viable product (MVP) is shipped to a select group of users to see how much value can be achieved from the idea.</p>
<h3>Tune Phase</h3>
<p>Finally, technical debt can be worked on in the tune phase, and the product can be made scalable, secure, and compliant. While some companies may choose to do these things initially, doing so contributes to wasted effort. At the end of the tune phase, you can have a product that everyone loves.</p>
<h2>What you need to implement this</h2>
<p>To use the value engine framework, you need an experimentation culture that allows you to limit the impact of the product fails and provides an avenue for a safe rollout, easy releases, and measurability.</p>
<p>The key takeaways from this talk are that the value engine framework should only be used for big initiatives and not every bug fix. When employed correctly, you can go from idea to tuning in two months, creating value after just one month and allowing you to focus on the customer and business needs.</p>
<h2>Enjoy more from ProductTank</h2>
<p><span style="text-decoration: underline;"><a href="https://mtp2017stg.wpengine.com/producttank/" target="_blank" rel="noopener">ProductTanks</a></span> are informal meetups, created by Mind the Product, to bring local product people together and to enable speakers to share amazing product insights. Today we have ProductTanks in more than 200 cities across the globe and there’s probably one near you.</p>
<p><span style="text-decoration: underline;"><a href="https://mtp2017stg.wpengine.com/producttank/" target="_blank" rel="noopener">Learn more about ProductTank – find your local meetup, explore more ProductTank content, see the latest ProductTank news, and discover ways to get involved!</a></span></p>
<div class="g g-21"><div class="g-single a-75"><a class="gofollow" data-track="NzUsMjEsMSw2MA==" href="https://mtp2017stg.wpengine.com/product-management-training/public-workshops/"><img decoding="async" src="https://mtp2017stg.wpengine.com/wp-content/uploads/2021/10/General-Training-Level-up-FOOTER-scaled.jpg" /></a></div></div>

core/freeform

Product Management Skills

Taming the roadmap circus by Maarten Dalmijn

Design for cognitive Bias by David Dylan Thomas

The role of the first product manager by Andrew Moll

It’s all about the outcome by Georgie Smallwood

Transition from a Feature Factory to Business Impact team by Sandra Hinz

Sharpening your product craft as an internal product manager by Alison Hickson

From burnout to bounceback by Sara Wachter-Boettcher

The importance of EQ for product development teams by Nikkia Reveillac

Owning your story as a leader: Advice from Donna Lichaw

Goal Setting in Product

ProductTank Columbus

ProductTank Tauranga

ProductTank Edinburgh

Prioritised Member AMA - Perfecting product roadmaps

ProductTank San Diego

Navigating difficult relationships panel

ProductTank Philadelphia

ProductTank Bucharest

ProductTank NoVa

Remote Training Workshops

ProductTank London

ProductTank Birmingham

ProductTank Oslo

ProductTank Astana

ProductTank NoVA

ProductTank Zürich

ProductTank Perth

ProductTank Tokyo

ProductTank Chicago

ProductTank Auckland

ProductTank Richmond

ProductTank Charlotte

ProductTank Reston

ProductTank Washington

ProductTank Sofia

ProductTank Raleigh

ProductTank Ljubljana

ProductTank Kraków

ProductTank Athens

ProductTank Barcelona

ProductTank Dublin

ProductTank Montréal

ProductTank Seattle

ProductTank Madison

ProductTank Singapore

ProductTank Portland

ProductTank Budapest

ProductTank Valencia

ProductTank Porto

ProductTank Los Angeles

ProductTank Austin

ProductTank Norwich

ProductTank Des Moines

ProductTank San Francisco

ProductTank Helsinki

ProductTank Reading

ProductTank Brighton

ProductTank Bielefeld

ProductTank Charleston

ProductTank Bogotá

ProductTank Newcastle Upon Tyne

ProductTank Dallas

ProductTank Malmö

ProductTank Canberra

ProductTank Paris

ProductTank Manchester

#mtpcon SF+Americas 2022 Conference

#mtpEngage Hamburg 2022 Leadership Forum

#mtpEngage Hamburg 2022 Workshops

#mtpEngage Hamburg 2022 Conference

#mtpcon London+EMEA 2022 Conference