A scatter diagram, also known as a scatter plot or scatter graph, is a graphical representation of data points in a two-dimensional coordinate system. It is used to visualize the relationship between two continuous variables, showing how they are distributed and whether there is any pattern or correlation between them. Each data point on the […]
In the context of Agile methodology, a story map or user story mapping is a visual representation of user stories or product features arranged in a hierarchical or chronological order. It helps agile teams to plan and prioritize their work by providing a high-level overview of the product’s functionality and user journeys. Think of it […]
The MOSCOW method is an Agile prioritization technique. It categorizes requirements or features into four categories: Must have, Should have, Could have, and Won’t have. MOSCOW helps teams prioritize effectively, focusing on critical functionality first. It guides decision-making, ensuring valuable features are delivered while managing scope. It provides clarity and aligns stakeholders on the product’s […]
The Kano Model is a technique for classifying customer requirements or features into five categories: Must-Have, One-Dimensional, Attractive, Indifferent, and Dysfunctional. Functional answers are features that customers expect and appreciate when present, leading to satisfaction when fulfilled. These features meet basic requirements and contribute to the overall functionality and performance of the product. Dysfunctional answers, […]
Risk mitigation strategies are measures and actions taken to minimize the potential impact and likelihood of risks. These strategies are designed to reduce vulnerabilities, prevent risks from occurring, or mitigate their consequences if they do occur. Five risk mitigation strategies with examples Negative Risk/Threat Positive Risk/ Opportunities Escalate Escalate Avoid Exploit Transfer Share Mitigate Enhance […]
A product roadmap is a document that outlines the goals, features, and timeline for a product. It is used to communicate the product’s vision to stakeholders and to track progress over time. A product roadmap is a high-level action plan that outlines the vision, direction, and progress of a product over time. It’s a strategic […]
In project management, a backlog is a fundamental tool used to keep track of tasks, requirements, and work items that need to be completed. It serves as a centralized repository of all the work that needs to be done, providing a clear overview of the project’s scope and objectives. Within the broader concept of backlog, […]
Value engineering is a systematic approach to improving the value of a product, system, or service by identifying and eliminating unnecessary costs without sacrificing functionality. Value engineering can be applied to a wide range of projects, from new product development to facility renovations. It can be used to reduce costs, improve quality, or shorten delivery […]
The Point of Total Assumption (PTA) is the point above which the seller starts assuming the cost of the contracted work The point of total assumption (PTA) is a point on the cost line of the profit-cost curve determined by the contract elements associated with a fixed price plus incentive-Firm Target (FPI) contract above which the seller effectively bears all the costs of a cost overrun. In the contract, the buyer agrees […]
