Streamline Your Product Management with Our Bill Reminder Template for Product Management

Bill reminder template for Product Management

foreign [Music] people this is Adriana here to walk you through product school's future prioritization template to get started you are going to click on this button on our website and when you get to the template you'll see that we cover five different prioritization Frameworks Moscow Kano race scoring feasibility desirability viability and by you slash effort now to do this exercise you're going to start with a project that has a list of features that you would like to prioritize and we suggest that for each project you only choose one of these prioritization methods to use and first we're going to start with Moscow methods so this is must have should have could have and won't have if you're going to slot all of your features into one of these categories and Moscow is really great for that ruthless prioritization when you have a project that has a lot of features that you would like to build but realistically you're not going to get around to it so you say what is a vital what must we absolutely have and what is something that we're just not going to have this time around and instead of saying oh you know these features will maybe get to them later you say no we will not be building this and that really frees up your mental capacity to focus on those highest priority features next we have Kano and Kano is great if you want to really level up and elevate your product so if you want to stand out from the competition and the idea is that over time there are diminishing returns on those kind of essential features and after a certain point what you need to focus more on are those performance and the lighter features so you see here again those parameters delighters performance and basic features and you are going to end up with an ordered list from highest to lowest priority based on these and based on the weight that that you give these in your ranking next we have race scoring which is more of a number based model so you have this nice formula that is reached by impact by confidence over effort and what that means is that reaches audience that's the number of people you're going to reach impact is how much impact will building this feature have on the product confidence is how confident are we in those above assessments and effort is how much effort will it actually take to build this this product this feature and you're going to rank you're going to give a score for each of these parameters for each feature and in the end you're going to have a final score and effort is actually pretty important because even if something is high reach and high impact but a lot of effort you might want to reconsider building that feature um and and build other also important features instead of putting all of your eggs in that one basket next up we have feasibility desirability and viability and this framework is really looking at can we build this feature and should we so feasibility is if you're technically able to viability is based on market and business business conditions are we able to and desirability is do customers even want this and you are going to end up with something a bit like this each of your features with your scores you're going to sum the the three parameters and that's how you're going to end up with your numbered featured list and finally we have value slash effort and value slash effort is going to give you this great visualization of what features you should and should not be building and it works with two parameters so that's just value and for how much value will this bring to the product or company and how much effort will it take to to create it and you're going to end up building these features on the top so the best features to identify are those that are low effort but high value and next most important are the ones that are high effort and high value yeah they're high effort but they still matter and then next these are the ones you know we'll get to them if we have the time it's low effort low value and the ones that we are not going to be building are the ones that are high effort and low value why build those and that's it thank you so much for watching and if you have any questions you can head over to our community forum and of course you can always find more information on this topic on the product School website or on the YouTube channel bye