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. Components of Product Roadmap The following are additional suggestions for creating a product roadmap: Objectives of Product Roadmap Who is responsible for the […]
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 […]
The payback period is the length of time required to recover the cost of an investment. Sunk costs are costs that have already been incurred and cannot be recovered. Opportunity cost is the cost of forgoing one option for another Payback Period: The payback period is a financial metric that calculates the time it takes […]
Market structures vary based on the level of competition, ranging from the perfect competition where many buyers and sellers exist to the monopoly where one seller dominates the market. What is Market Structure? Market structure, in economics, refers to how different industries are classified and differentiated based on their degree and nature of competition for […]
Relative Estimation is an Agile Project Management technique used to estimate the size or complexity of a task or project by comparing it to other similar tasks or projects. Rather than providing an exact numerical estimate, relative estimation involves assessing the difficulty of a task or project by comparing it to other tasks or projects […]
Scrum of Scrums is a technique used to scale Scrum up to large groups (over a dozen people) by dividing the groups into Agile teams of 5-10 Scrum of Scrums aka “Meta Scrum” is a scaled agile framework used to manage large projects that involve multiple teams. It is an extension of the Scrum framework […]
Negotiation is a process of communication between two or more parties with the aim of reaching a mutually beneficial agreement. it involves the exchange of ideas, perspectives, and offers, with the goal of reaching a satisfactory outcome for all parties involved. Regardless of which project management methodology you use, It is a critical skill for […]