As the Product Manager / Product Owner, why should I give a damn about these flow or delivery metrics? We start out with a concrete real-world example of how we are looking at the product / service of customer engagement at Acorns. We start with the question of “Did our customers have a good month?” and think about the journey a customer goes on when they engage with us. Each step we break down into some KPIs to help us answer that question. Each of these areas now have a clear associated metric to help us answer the question holistically. With the foundation out of the way, now we can focus on Flow.
We start out with a goal of influencing these metrics in a positive way and formulate experiments to target each. However, it’s important to understand that these are all guesses, and the quicker we can determine if we’re wrong the better. Part of the role of a good Product leader is to manage risk. The shorter your cycle time the sooner you’ll know if you have risk.
So what about Value metrics? Well let’s be clear that this is an assumption. We are assuming that this thing is valuable and the only way to really know whether or not it is going to be valuable is to get it out there. So here again we can focus on Flow metrics to shorten our feedback loop.
We can’t control return but we can control investment.
Everything is about time. Time is a resource that you’re never going to get back and you should be using this in your cost benefit analysis. The economic decisions that you are making are trade offs for time.
Every time I went down the path of understanding value upfront, I was wrong.
We talk a little bit about Just In Time vs. Cadence. Is there really a need to batch things up or would it be more beneficial to break the work out and perform it when it’s actually needed. There is a balance that you can strive for here depending on your context.
Check out this episode for more: https://youtu.be/Tcd8h-_CaXg