Bain Public

Showing all posts tagged "Decision Making Framework" ...

Any company + product manager ≠ a product company.

The day-to-day role of a product manager is constantly changing and becoming more strategic. Many product managers are still trying to escape the trap of getting projects handed to them by the C-Suite and being told to simply ‘build something’ or ‘make it better.’ This isn’t exactly much to go on. Where’s the vision? Where’s the communication? Where’s the direction? Roadmapping is one of the keys to gaining product focus. It’s shocking to see that 57% of product managers say they don’t spend enough time on roadmapping and goal-setting. Without objectives, and the proper planning and researc...

The Top 6 Roles to Describe a Product Manager

The role of a product manager could never fit into a box. It’s difficult to define. There’s no set or standard job description. So what exactly does a product manager do? And why should companies care about investing in them? The best product managers think strategically and make difficult trade-offs quickly. They use unconventional ways to spread the vision and have the ability to keep cool under pressure with tight deadlines. They prioritize conflicts and manage revenue targets, resource constraints, and market demands. You would almost think product managers have super powers if they ca...

The Product Manager's Guide to Backlog Grooming

Wish lists are a pain. It looks like a small request – at best. It comes top down, it guts your strategy, it unbalances all the hard work you put in prioritising and forces you to make difficult trade-offs. Great news: you need to validate that it’s actually useful and/or important, Less-great news: If they clearly aren’t important enough to be done, then they don’t belong on the backlog. Your job is to break the news. Some of my stakeholders have tried everything to eviscerate a backlog: Last minute esoteric requests with intense pressure on me to say "yes", contradicting established o...

Use a decision-making framework

Make the right hard calls. Prioritize ruthlessly. As a product leader, you’re most often evaluated by your ability to make difficult trade-offs quickly. When considering new features to enhance the existing product, what are the critical elements to look for? In the following lines, I’ll describe a process around decision making which you can use as a repeatable and sustainable methodology to constantly make important product decisions. Yes - you won’t have to rely on gut feelings or get trumped by the loudest voice in the room. Great product managers say no Research is the center aroun...