Enhance Your Product Management with the Best Payment Reminder Letter Format

Payment reminder letter format for Product Management

what is the PRD PRD case a PRD is like a love letter to your engineering team if written comprehensively a PRD is a document such that that the If the product manager does not even exist If the product manager is not there the business automatically understands what what has to be done who is the value receiver here the product is the value receiver because I give a requirement to you you implement it is I got the value right so the product is the value receiver here right Dev QA design are the value generator and users are the value distributor eventually the end user if a PRD is written comprehensively it should do the job of a PM even before the meeting starts if I share my PRD with the dev team a PM is not needed if it's a great PRD a PM should not be needed take it that's the first step step one step two product receives the BRD that's step two step three product understands the BRD step four product writes the PID right step five products explains the PRD to Dev to a designer the step five it is not needed if the step four is done perfectly if step four is done perfectly step five is not required that you don't need a meeting in which you will explain the PRD if the PRD is written very very comprehensively step five is not required the typical breakdown of a PRD is like this the first thing is again the objective statement but what is the difference between a business objective and a product objective business objective is far more Revenue cost profit driven and a product objective is far more towards the experience of the user or the or the solution or the feature that you're making so a product objectives we have to write what the end user should do as a feature right like I have written a single statement should be the objective like building a whiteboard feature for the tutors and students like for example I am working for a largest edtech company in the world I want to make a whiteboard feature everybody understand what is whiteboard whiteboard is something on which students can write and you can write so building a whiteboard feature so that students and teacher can actively engage in problem solving and thus learn better there is no business objective here business is a byproduct I am writing that building a whiteboard feature such that the tutors and students can actively engage in problem solving in this better learning a product objective talks about what action should the end user do in order to effectively drive a business objective the action is if I Implement a whiteboard feature students and tutor can can interact in the chat and this will lead to more engagement and more engagement as a byproduct will lead to more Revenue so the PRD Capital the objective what is the objective a single statement for the team to understand and understand what to build that is something that the first step of the PRD comes across then again the wire of the problem why should I build this feature this should be very clear most of the times unfortunately product teams and Engineering teams work in silos and unfortunately these two things these this lead to the to the fact that there is a product engineering Gap most Engineers feel that having because some other end users we don't understand we just have to implement it and most product teams don't put an effort to explain it across that's why the second part of your PRD should be why should we do it we want to implement a whiteboard feature the next step of the PRD should be the why of the problem that a synopsis of why it should why it adds so much value to the end user and into the business so we explain that in our product which is zoom for Education there are three core pillars classes from the best instructor active doubt solving study from anywhere right first and third Point are getting addressed but active doubt solving is not getting at rest and that is why in order to improve the active doubt solving we need to implement a whiteboard feature we also will explain the with references that why does the Whiteboard feature make sense so I can write that from a reference but this is just an example that Stanford and Harvard Educators have mentioned that that a class in which there is active engagement there is 50 percent more effective than the class which has which has less less section like for example if I had a whiteboard feature here you guys would have been able to solve and learn with me very very easily and second thing and I can I can also say that with reference data from Stanford and Harvard well it is it is just an example guys it's just an example that the study is for that your education or learning in a class is 50 more effective than asynchronous problem solving and I will give references so first I gave the objective second I talked about why it is important with references then the third part is and I have mentioned this is all the why of the problem that it is a very strong pillar of Engagement etcetera whatever so I will in detail mention that why this problem should be solved now it will do two things one it will make the design the engineering the product team better understand that why it is needed to build this feature then the third part is again this is a product solution a high level solution right like the tutor launches a whiteboard you you can create a diagram here tutor launches a whiteboard tutor select group of students students join the tutor on the Whiteboard and finally student and tutor solve the problem together it's the high level solution this is exactly the third part after the objective and the why of the problem is explained the third is the high level solution fourth now this is very important the fourth part which is part of the brtr PRD is called a frd frd basically means the functional specification even the smallest detail of the feature right like after I've written I have after I've I've started with the objective the why then the third part is the high level solution the fourth part is called a functional requirement or a feature level requirement feature level requirement you will have to go detailed that how does the teacher launch a white body but the first part is teacher launches the whiteboard in the high level solution in the frd which is a part of the PRD I will write the complete steps that tutor log logins into the tutor panel selects the Whiteboard that CMS initializes the Whiteboard I will write the total proper detail stability tutor goes to the back end clicks on the button the button shows positive signals the buttons button says that we are launching the Whiteboard and we do all of things in a very very functional requirement structure like try and understand what I mean by that is select the Whiteboard from the back end the backend initializes the Whiteboard the time taken by the back end is two to three seconds at the same time any initial pop-up should be shown to the students so I am writing that complete detailed with edge cases and everything in the functional requirement yes with each and every minor step ideally yes yes even the smallest of clicks should be mentioned that's why I told that a PRD is like a love letter to engineering engineering likes that you don't miss edge cases every smallest step with edge cases you have to mention in the frd once all the all the actionable side steps in the frd you also mention the mock-ups also mock-ups are done by the design team you will also mention the cups like in an frd like I will write it like this give me a second if is if I run want to write the tutor login I will start with tutor logs into CMS CMS is content Management Service backend tutor clicks on the launch whiteboard button back end initializes the Whiteboard and takes two three two to three seconds front end shows a pop-up to the students till then and last line Fifth Line would be here are the mock-ups design of the pop-up so yeah okay so you will also mention the designs that are made by the design team who are making it parallely the fifth part after the designs and the frd and all the edge cases everything is done you mentioned the tracking of data that is also a part of the PRD that you define key events in the journey like whiteboard start event one whiteboard does not initialize event two whiteboard student selected event 3 whiteboard 10 used event 4 whiteboard stopped event five so you will also mention the tracking of data as part of the PRD so the first step is objective second is why third is high level solution fourth is the feature level Solution that's why it takes time to write a PRD then the fifth part is tracking of data you will mention events for tracking each and every button that is happening on the PRD you will write about if somebody clicks on the Whiteboard there should be an event that should get fired and these are product analytics events like which are part of mix panel clever tab or something that the user is doing you should be able to track it does that make sense so you have to mention all of those like event one event two event three all all steps in the user Journey should be mentioned in the tracking of data once this is done then the next thing comes the metrics to track what are the metrics that you have to track the metrics to track will be that here you will talk about the Baseline metrics because it's now these are not Revenue you cannot write Revenue should increase no you are not affecting Revenue here you are affecting the watch time that engagement is increasing so number of people who attend the live class and complete the live class their percentage should grow up so in a PRD you don't mention Revenue metrics unless it's a revenue feature you mention those metrics which the feature is directly impacting a whiteboard feature is not impacting Revenue the fifth part is the metrics to track the metrics should be the direct metrics which should get tracked from the from the particular feature that you're developing here in case of watch in case of whiteboard my percentage of time spent by the user should grow up so watch time percentages is growing up student engagement rate is also growing up right that is something that I will write Revenue will grow by one million dollars it's not under your control so you have to write about the thing which can be grow which can actually grow so you only write about those metrics which you directly influence the last part of your PRD would be questions if any you open the PRD and make a section called questions in which Your Design QA Etc all of these teams can ask your questions right like there can be a question what will happen if a student on whiteboard is not responsive for 10 seconds so you will write it in as a question section in which all of your users would be able to see the different parts of key basically if they have any question in the PID they can write and the engine and the product manager can answer is that the day your product actually comes out when you discuss it with engineering everything is clear you have you under you have given the objective you have given why it makes sense you have talked about the high level solution you have given the future level detail of every solution you have given the designs given given the metrics you have given that and after that also you are saying if there are any question answer people can answer ask those questions they can answer them this is where we stop today's live I hope you really really enjoyed give me feedback give me a yes or no if you enjoyed the live today and please please please like the video as much as possible foreign [Music]