The groundwork involved in developing a product is a mammoth task in itself. Why else do you think a Project Manager goes berserk?

So, why again did we start focusing on the PMs? Well, they are a key angle to this topic. Considering the role, they hold in projects, they are the ones who decide upon whether

i. Develop the right product or

ii. Build the product right or

iii. Strike the perfect balance between the two alternative roads.

But how do these tech wizards handle the decision? Here’s a look into their factors of consideration while going for the right product building –

A. Research

The first set of questions that crowd the PM’s mind before building the right product are –

i. Is this the problem that we should be targeting?

ii. Is the issue worth the time and effort that my team will be putting in?

iii. Considering that we identified the issue and developed the product, is this the right product? Will it meet the initially targeted issues of the user?

All these concerns need to be integral to the research. And these helps to validate any potential solutions and various business issues.

Such research can be the root of a diverse range of solutions. However, it is essential to understand its very nature first. Research, as an element of building a perfect product, can be of various types –

i. Competitive analysis

ii. Prototyping solutions

iii. Shadowing individuals engaged in the work

iv. Reading documentation

v. User interviews.

B. Users

To build the right product, one of the priorities is the user-angle. Catering to the user’s requirements, as product developers, you need to start understanding your users, their perspectives and ensure that the required product is focused on resolving the user’s issues.

However, one prominent hurdle is that more than often users are unable to articulate their issues. It then becomes the Product Manager’s responsibility to articulate the issues for the product owner to understand better.

This is followed by the-

i. Spotting of high scopes and

ii. Use of high-quality research resources and

iii. Use of analytics to seek the most suitable product-based solutions.

C. Product Owners

A product owner is as, if not more, important to a product development team as the PM. So, what is a product owner?  He/she is entitled to make decisions about the product with the assistance of the PM.

Have you noticed how they handle the crucial decisions about the product? Additionally, they have a crucial role to play in the success or failure of a product. These key ‘stakeholders’ hold deep domain expertise that helps them make crucial decisions.

D. Priorities

How many times have you heard the word ‘triage’? That is while you are watching medical TV shows like The House, The Good Doctor, The Residents, or Chicago Medical?

Do you know what that means?

Well, theoretically, triage is the assignment of degrees of urgency to wounds or illnesses. This helps medical personnel to decide the order of treatment of many patients or casualties.

By now you understand the crucial role played by the person who calls this shot, right?

In the case of the right product development, the PM handles the digital triage. It is the PM who decides in which order the queued-up problems are to be solved. This means considering the right balance among cost, value, and risk calculation.

With so much down the line, our proficient PMs have chalked out their roadmap across this prioritization. Here’s a small sneak peek into it –

i. The priority is the high-value parts of a product. De-risk the areas and spot the unknown issues.

ii. Consider the technical challenges across the product.

E. Analytics

So, the right product service management you offered to the clients has been launched. But, your job as a product developer and launcher doesn’t end there. You will need to continue to build the right product even after the launch.

Analytics helps one achieve this. Additionally, in case your launched product isn’t the right one, you can fine-tune it with analytics.

Such analytics requires an optimum setup. One needs to decide what is the perfect set of questions regarding data. This tooling needs to be a business requirement based and the outputs have to be actionable.

Before adding on to the analytics, make sure to decide upon –

i. The product-based queries,

ii. The plausible answers,

iii. The customization of products as per answer-requirements.

F. Scopes

So, let’s see –

Issue identification – check!

Solution offering – check!

The solution adopted by the user – Ummm…

So, here is the problem – the solution you offer needn’t be unique. Similar solutions often pre-exist in the market. This might make your user doubtful about your offered solution as software development process.

So, what do you do?

i. Identify opportunities by analysing the market.

ii. Find your place across the industry.

iii. Look for your USP (Unique Selling Point).

iv. Conduct a holistic competitor analysis to identify opportunities.

This is all about building the right product. Seems appealing enough? But, we say, it’s too early to decide. Check-in with the “building the product right”, compare the methods, and then decide between the two!

Your game? Time to hop in!