This article is part one of a two-part introduction to Prioritization Frameworks and a continuation of the theme of Data-Driven Product Management.
As the Product Manager, you are a key member of a team that will define and deliver solutions for your customers. You are responsible for the product vision, direction, and roadmap. The roadmap should guide you in maximizing the value of the team while remaining engaged with your customers.
A good roadmap depends on the right sequence of features. Which features will you deliver first? What features will follow? When should you pivot? Which features can wait or even be dropped from your roadmap? These key decisions should not be made based on hunches or personal experience alone. The loudest voice in the room is not necessarily the best determination of roadmap priority.
You need a Prioritization Framework.
A prioritization framework is a systematic approach to value delivery used in product management and development. It guides the priority of tasks, features, or projects based on their relative importance and impact on the overall goals and objectives of the product.
No single framework can meet all the needs of any product development team. The best organizations utilize more than one framework depending on the problem context and culture. The value of any framework can be enhanced with and used in conjunction with evidence-based product management.
A good prioritization framework helps teams prioritize their work effectively, ensuring that the most important and impactful tasks are addressed first and that resources are allocated to the areas that will have the greatest impact on the product's success.
Several product prioritization frameworks have been developed and broadly practiced by product teams. Here's a summary of 8 popular frameworks.
MoSCoW is a prioritization framework that stands for "Must Have", "Should Have", "Could Have", and "Won't Have". MoSCoW can be a useful tool for prioritizing requirements in a simple manner, but its effectiveness depends on the clarity of the definitions used and the complexity of the requirements being considered.
RICE is a prioritization framework used to prioritize initiatives or features in product development. RICE stands for Reach, Impact, Confidence, and Effort. The framework is used to evaluate and prioritize initiatives based on the expected impact they will have, the audience they will reach, the level of confidence in delivering the initiative, and the effort required to implement it. RICE can be a useful tool for prioritizing initiatives in a comprehensive and data-driven manner, but its effectiveness depends on the accuracy of the data and the understanding of the initiatives being evaluated.
KANO is a customer satisfaction model and prioritization framework used in product development. The model categorizes customer requirements into three categories: Must-haves, Delighters, and Performance Attributes. KANO can be a useful tool for prioritizing requirements in a customer-focused and data-driven manner, but its effectiveness depends on the accuracy of the customer data and the understanding of customer requirements.
Story Mapping is a prioritization framework that involves organizing user stories into a visual map to help prioritize and plan the development of software. Story Mapping can be a useful tool for prioritizing and planning software development projects, but its effectiveness depends on the quality of the user stories and the complexity of the project.
Opportunity Scoring is a prioritization framework that involves assigning scores to different opportunities or initiatives based on their potential impact and feasibility. Opportunity Scoring can be a useful tool for prioritizing opportunities in a simple and objective manner, but its effectiveness depends on the complexity of the initiatives being considered and the level of subjectivity involved in assigning scores.
A Product Tree is a prioritization framework that involves organizing and prioritizing product features and requirements in a hierarchical tree structure. Overall, a product tree can be a useful tool for prioritizing and planning product development projects, but its effectiveness depends on the quality of the requirement definitions and the complexity of the project.
Cost of Delay is a prioritization framework that involves calculating the costs associated with delaying a project or initiative. Overall, the cost of delay can be a useful tool for prioritizing projects in a quantitative and data-driven manner, but its effectiveness depends on the accuracy of the costs associated with delaying the project and the complexity of the initiative being considered.
Buy a Feature is a prioritization framework that involves assigning a budget to a product development initiative and allowing stakeholders to "buy" the features they consider most important. Overall, buy a feature can be a useful tool for prioritizing features in a customer-focused and collaborative manner, but its effectiveness depends on the participation of stakeholders and the complexity of the initiative being considered.
A good Product Management Roadmap is your guide to successfully delivering value to your customers. The order of features along your route to success is a critical set of guideposts for your team. Don't let opinions and estimates drive your roadmap. Chart your course with the help of a Prioritization Framework and Data-Driven Decision Making. When you find an obstacle, don't panic; pivot in a new direction and continue your journey based on empirical evidence.
In part 2, I'll introduce a Hybrid Prioritization Framework and describe its use within an iterative hypothesis-driven development process.
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Henry Pozzetta is an Agile Coach with extensive experience in software engineering and product management. His goal is to accelerate the delivery of value from product management with progressive adoption of agile best practices and lean servant leadership principles.
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