Terms and Key phrases about Product Management

New  Mar 26, 2021
Value Prop

Value proposition or value prop is user’s primary motivation for using the product or the main benefit they receive from it.


New  Mar 26, 2021
Customer Development

Customer Development is the process of gaining customer insights through surveys and in-person interviews


New  Mar 26, 2021
GOOB or Get Out Of Building

Coined by Steve Blank to refer to the process of going out and talking to users instead of staying inside speculating about what they want.


New  Mar 26, 2021
User Story

User story captures a description of a software feature from an end-user perspective.

The user story describes the type of user, what they want and why. They typically follow a simple template: As a <type of user>, I want <some goal> so that <some reason>.


New  Mar 26, 2021
Usability Testing

In usability testing, you make the real users try out a product or feature and observe them while they try to accomplish particular tasks given to done.

While observing in usability testing one can get to know specific areas where the users are getting confused so that it can be improved.


New  Mar 26, 2021
Scrum

Agile project management approach that focuses on delivering products in short, iterative cycles.


New  Mar 26, 2021
Gantt chart

Gantt chart is a type of bar chart which is used to plan a project visually by plotting different tasks in a sequential manner.

Gantt chart was named after it's inventor Henry Gantt who created it in 1900s.

Each activity is represented by a bar; the position and length of the bar reflects the start date, duration and end date of the activity. 


New  Mar 26, 2021
Retrospective

Retrospective is a cross functional meeting that takes place after an activity or event to analyse what worked well and what could be improved in the future.


New  Mar 26, 2021
Product Requirement Document or PRD

Product Requirement Document or PRD is a document which is generally written by a product manager to define or articulate the customer pain point, how particular feature to be built will solve it and what would be the scope boundaries of the feature.

A PRD helps to bring all the cross functional teams on the same page about a particular feature or product module. A PRD answers questions like :

  • Who is the feature for
  • what pain point will it solve
  • how will users interact with it
  • how will the feature flow look like

New  Mar 26, 2021
Need-gap analysis

Need gap analysis is a process in which unmet needs of the customers are identified and it is analysed how a product or service can fulfil those set of needs.


  by Zata