Conclusion: Delivering measurable results
Funding models play a vital role in a product’s success. Two very similar teams can reach drastically different outcomes if funding is not conducive to customer-centric design methodologies, ongoing discovery, and dual-track scrum delivery.
To summarize:
The objective of product-centric funding is to maximize return for dollars invested.
Waterfall requirements paired with a business case and locked scope does not mitigate risk. Agile development methodology is best.
Siloed organizational structures don’t work. Cross-functional teams do.
Different products require different funding methodologies with shorter cycles for greenfield opportunities with validation gates, longer cycles for digital transformation efforts, and ongoing discovery cycles for legacy re-platforming.
Key metrics informing risk management demonstrate the output from the team. Velocity helps estimate the cost needed to deliver.
Outcomes are the North Star for product strategy with qualitative and quantitative metrics as navigational queues.
Roadmap prioritization must be influenced by product metrics, research, release strategy, and technical feasibility.
Combining all of these strategies reduces risk, maximizes ROI, and establishes a healthy culture of innovation.
The result: Great product teams exceeding expectations and delivering more value than planned.
Get started with a Lean Requirements workshop.
Put custom software development on the fast track. First, get key stakeholders in one room. Then, let our product development team orchestrate the ultimate workshop. Without fail, we get the stakeholders aligned in a couple days—which is more than most companies can do in months.
One rule: Don’t bring documentation. The interactive series of workshop activities produces the six key outcomes needed to jump-start product development, DevOps, or any digital transformation to net measurable results for your organization.
Six key outcomes
Defined Business Goal. A clearly defined business goal with success metrics
MVP Requirements. The minimum amount of requirements necessary to kickoff the design process
Hidden Requirements. Bringing people from different functions together to uncover what impacts goals, scope, and priorities
Shared Understanding. A shared understanding of the business process, end users, and their pain points
Scope & Priorities. An agreement on scope and priorities to meet the business goals
Product Release Strategy. A phased approach to releasing your product to market