The course is part of this learning path
Module 6 – Product Owner Specifics
This module takes the learner through a more detailed look at the Product Owner role and covers some of the key areas and tasks that a Product Owner does. This module is made up of videos, followed by a quiz to help support your understanding.
- Release Management
- Product Backlog Management
- Evidence Based Management
- Product Value
- Product Vision
- Evidence based processes are often used in the sciences, in medical trials, or for proving a theory. It is not something that is often considered with the management of products or people though. Let us delve into the concept of evidence based management. Evidence based management sometimes abbreviated as EBM, is still a rather emerging concept. The general idea is that management decision and organizational practices, should be informed by the best available evidence. From pure review journals, judgment, and experience from a contextual management practice. Or, from the preferences and values of those affected by the manager. EBM considers the circumstances and ethical concerns that managerial decisions involve, but it doesn't tend to use behavioral science, to inform the decision making process. EBM is essentially an empirical process. In scrum teams, empiricism is a key concept, using this three empirical pillars of transparency, inspection, and adaptation to influence progress and development. Empiricism should be used when making decisions. What has worked in the scrum team in the past should influence how decisions can be made. In scrum, EBM looks to getting value based results, an EMB that are four key value areas, or KVA's. They are, current value, unrealized value, the ability to innovate, and time to market. Current value, measures value delivered to customers, or users, such as. The revenue per employee. This is the revenue you generated by the product you're evaluating, and the employees contributing to its success. Cost of product domains. Such as, gathering the IT expenses associated with the product. Employee satisfaction. What percentage of employees are engaged? Customer satisfaction. What percentage of your customers is marketing your product or services on your behalf? Unrealized value on the other hand, is simply a measure of the value that could be realized by meeting all potential needs of the customer or user. The ability to innovate, measures the ability to deliver a new capability that may better serve a customer or user need, such as. Installed version index. What percentage of your customers are able to take advantage of new features on the latest releases of your product? Usage index. What percentage of your features does not provide value to your customers? Innovation rate. What percentage of your budget is spent on innovation? Defects. How much technical dept are we accumulating? Time to Market measures the ability to quickly deliver new capability, service, or product, such as. Release frequency. How often do you put new features in the hands of your customers? Release stabilization. How much time are you spending on getting something done to really done? Cycle time. How long does it take for you move new features from idea into customers hands? Aiming to achieve these four value generated activities is the key aim of EBM.
Paul Williams is a Senior Learning Consultant for QA, based in Manchester, UK. He is a member of the Agile, Lean & DevOps Trainer Team.