This webinar will introduce a strategy implementation circle, which will demonstrate the role that projects and products play in assisting an organization with strategy implementation. The webinar will emphasize the importance of using an iterative approach to product development and project execution.
2. 03
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6. Challenges – Products are Failing
• 80% of new consumer products fail
(Christensen)
• 70% to 80% of new grocery store products fail
(Blackburn)
• 40% of products fails (Castellion)
6
7. Product Development Challenges
• Diversity and diversification
• Disruptive technology
• New business models
Your
Product
Business
Models
Source: Gen P New Generation of Product Owners Who Care About Customers
8. Why is this Happening?
• The New Renaissance
• Industrial Age 4.0
• Four-generation workforce
8
Industrial Age Evolution
Source: www.engineering.com
1700 1890 1960 2000
9. Strategy Implementation Challenges
Culture Change culture to deliver strategy
Structure Support product delivery through organizational structure
Focus Focus on the strategic goals and objectives
Execution Use feedback to deliver products through iterations
Change Update your strategy as priorities change
Source: Gen P New Generation of Product Owners Who Care About Customers
www.menti.com
Voting code 26 36 6
11. Product Strategy Map Example
www.newgenp.com 11
Strategy Objectives Project Product Value Feedback Benefit
Feed cities of
tomorrow by
bringing farms
closer to the
consumer
Farms installed in
100 stores in 3
years
Install farms in
Metro grocery
stores in Germany
• Remote
monitoring
• Scalable
• Access to a
variety of seeds
• Local food
• Stackable
• Modular
• Climate-
controlled
• App to monitor
• 200 in-store
farms
• Over 14,000
LinkedIn and
Instagram
followers
US$100M in
venture capital
funding
12. Traditional Product Life Cycle
• Developed by the Boston Consulting Group
• Based on creating a full feature product
• Growth through marketing
Source: Gen P New Generation of Product Owners Who Care About Customers
Introduction Growth Maturity Decline
Time
Revenue/
Profit
Question
Marks
Stars Cash Cow Dogs
13. Iterative Product Life Cycle - Overview
Minimum viable product (MVP) is the minimum set of
features included in a product that delivers value to a
customer.
Source: Gen P New Generation of Product Owners Who Care About Customers
Sales
Exhaustion
Iterative
Execution
Market
Validation
Customer
Problem
Exit
14. Iterative Product Life Cycle
Customer Problem Market Validation Iterative Execution Sale Exhaustion
Idea
Value
Solution MVP
Market Fit
Proof of Concept
Prototype
Iteration
Planning
Define
Build
Release
Product Backlog
Promote
Sell
Exit
Feedback
Feedback
Source: Gen P New Generation of Product Owners Who Care About Customers
15. Product Journey Example
MVP
Shoesite.com
Market Fit
People bought
shoes
Proof of Concept
Success
Prototype
Shoesite.com
Idea
Sell shoes
online
Value
Save time
Solution
Create
Shoesite.com
Source: Gen P New Generation of Product Owners Who Care About Customers
16. Iterative Development Approach
• Deliver the features that provide
the most value
• Adjust based on customer
feedback
• Just in time prioritization
Backlog Effort
Time
Iteration 1
Iteration 2
Iteration 3
No. Description
1 Log in/ Log out
4 Display trip
5 Buy trip
2 Print trip
6 Update trip
3 Send alerts
Source: Gen P New Generation of Product Owners Who Care About Customers
17. MVP Concept – Transportation Vehicle
Release 1 Release 2 Release 3 Release 4
Release 1 Release 2 Release 3 Release 4 Release 5
Source: Gen P New Generation of Product Owners Who Care About Customers
Traditional
Waterfall
Approach
Adaptive
Iterative
Approach
18. MVP Characteristics
•Need to ensure the product delivers value
Goal
•Use the MVP to validate the benefits
Benefits
•Validate the product to avoid waste
Optimization
•Acquire early adopters and get feedback
Acquisition
•Focus on delivering the value proposition
Focus
Source: Gen P New Generation of Product Owners Who Care About Customers
19. Project Managers and Product Owners Support Each Other
19
Product
Owners
Project
Managers
Team
Project
Stakeholders
Project Objectives
Project Risks
Customers
Product Lifecycle
Feature Benefits
Product
Project Lifecycle
Customer Value
