#product-development

It will free up resources to work on other tasks, but it will also increase the product's variance, increasing the costs associated with fixing those defects.

One of the biggest advantages of the demand-focused approaches is the speed at which you can execute them.

If you preplan which requirements your team can scrap, you can structure your product architecture to make it easy to discard them.

When WIP is high, purge low-value projects from the queue to make room for high-value projects.

Startup operations encompass all the day-to-day tasks necessary to keep a startup company running smoothly, from human resources to financial management.

You can block queues in two ways: 1. Eject the arriving job from the system. 2. Hold back the job in an upstream queue.

Queues create many forms of economic waste: longer cycle time, increased risk, more variability, more overhead, lower quality, and less motivation.

Low-queue states are more probable than high-queue states, but high-queue states are more important because they delay more jobs.

Product strategy tools: market research, competitive analysis, customer surveys, business planning, financial modeling, product development.

If you fix the level of a WIP pool, you'd inherently synchronize the arrival and departure rates of this pool.

So when your system is operating at maximum capacity utilization, you don't have slack. When it isn't working at its full, you have slack.

If the time on the critical path is worth a lot of money and a support group is on the path, you should measure the group on response time, not efficiency.

In this situation, if your team can execute the tasks of the bottleneck process, they can help it by increasing its capacity for a short period.

Such a system is well-suited for the stochastic bottlenecks of product development.

Because of the pull principle, the upstream processes can't send work to the next stage if a blockage occurs anywhere.

If it constrains total WIP, by Little's Formula, Principle Q12, it also constrains cycle time.

A team only picks up the next piece of work from the previous stage when they have available capacity—they've completed other work, and their WIP won't exceed.

Cross-functional teams are various organizational departments—such as product, engineering, design, and marketing—working together to achieve a common goal.

Perform the longest step in parallel, change how you do the longest step to make it faster, increase your team skills.

This theory states that the way to improve throughput is to speed up the longest step of the system, also known as "elevating the constraint."

A random process (sequence of random variables) has the chance to spin out from the mean because the variance of the accumulative total grows larger with time.

Small batch-size activities increase the interactions, increasing their behavior prediction. Once they can foretell how they'll act, they trust each other.

The idle time of waiting works in queues increases the work-in-process, which is the root cause of much waste in product development.

Kanban is a method that enables teams to visualize their work. By doing so, they handle better bottlenecks, waste, and chaos.

If I know the characteristics of Bad and Okay Product Managers, I know what I shouldn't do.

Personas bring to life the target consumer and help you understand your customers.

The value proposition is the company's brand and its promise. The product's branch must be in alignment with the company's.

Flow efficiency is the proportion of time where the team effectively spent active work within the total cycle time of the task.

If a company takes ten days to deliver a feature to its customer on average, its cycle time is ten days.

Cost of delay (COD) determines the financial impact on the company if it releases a product on the market earlier or later. When a product arrives on the market X months earlier, revenues also roll in X months earlier.

Business agility is how fast you can deliver the right product to your customers and quickly respond to market changes and customers' demands.

The PM discovers what customers need, studies the market and tendencies, prioritize what to build next, and rallies the team around a product roadmap.

The product owner (PO) is a role of the scrum team—it's an individual.

The CSD Matrix is a technique that the team can use to define the scope of some challenge or product ideation considering what is already known (certainties), hypotheses raised (suppositions), and questions that are still unknown and need more investigation (doubts).

Innovation is the process of improving something that already exists or creates new things.

The critical path is the most extended sequence of activities in a project plan. The project is only completed on time only if you meet these activities.

It can provide essential insights to product developers because there're similar problems of unpredictable work arrival time and unpredictable task durations.

Set-Based Concurrent Engineering (SBCE) is a product development approach that allows multifunctional teams to ideate, develop, and communicates sets of conceptual solutions in parallel.

These final adjustments can have fewer tasks than the core, but it is laborious. The time to finish it is almost like the core time implementation.