What is Lean Product Management?

What is Lean Product Management?

Product Owner, are you tired of writing User Stories and managing a meaningless backlog? Do you think your team is a feature factory? Are you developing features that are not used or projects/products that are canceled? Do you think you could provide much more value?

Agile, as implemented by many organizations today, does not have a mechanism to determine if your business model is viable, if you are creating the right functionality, if that implementation is well designed, or if it is worth improving.

Agile helps us to execute correctly, but to execute the right ideas and projects we need Lean Startup.

In most companies that adopt Agile, the role of the Product Owner (PO) is a myth. The PO is just an administrator of the backlog, who is receiving orders from other business units, departments and stakeholders.

Most agile teams are nothing more than feature factories.

However, things are changing, as digitization and technology advance, we see how organizations adopt a truly customer-focused Lean approach with real product teams led by a modern Product Manager. The separation between Product Managers and Product Owners is blurring.

The role of Product Owner was invented by Scrum to close the gap between business and technology. When that eventually closes, the role of the Product Owner will rise to be a Product Manager.

¿What is Lean Product Management?

Lean Product Management is the management of the complete life cycle of a product applying the principles and practices of Lean Startup, Lean, Customer Development, Business Modelling and Financial Viability, Outcome-driven Innovation, Behavioral Economics and Strategy.

It is about doing the right thing, in the right measure, at the right time. For this we must be very clear about our business model, what our objectives are and how we are going to know that we are making progress.

Lean Product Management connects the company’s strategy with development.

And, what topics does Lean Product Management methodology cover?

Lean Startup

  • Business Models and Business Modelling
  • Customer Development
  • Validated Learning
  • Build – Measure – Learn
  • Minimum Viable Product (MVP)

Ideation

  • Sensing the environment
  • Prioritizing ideas

Exploration (Problem-Solution Fit)

  • Identifying your target customers
  • Understand real customer needs
  • Validate problem/need
  • Value Proposition
  • Market Opportunity and Market Segmentation
  • Business Model Canvas / Lean Canvas
  • Experimentation

Validation (Product-Market Fit)

  • The first MVP
  • Experimentation
  • User Testing
  • Lean Analytics

Product Strategy

  • Business Strategy
  • Product Strategy
  • Innovation

Scale

  • The Product Team
  • Lean Product Roadmap
  • Outcome-based product development
  • Prioritization techniques
  • OKRs
  • Hypothesis-driven Development
  • Lean Analytics

If you want to become a modern Lean Product Manager, register to our training.

 

You can also download for FREE our Lean Product Management guide:

 

Lean Product Management