How to create a product roadmap LEARNOVITA

What is a Product Roadmap? | How to Create one | A Complete Guide with Best Practices

Last updated on 04th Nov 2022, Artciles, Blog

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Sweetha Manikam (Business Analytics Analyst )

Sweetha Manikam is the Sr.Business Analytics Analyst with 5+ years of experience. She has expertise in ABC analysis, SPI, Factory Overhead, R&D Capex, sunk cost, economic order quantity (EOQ), and EAC.

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    • In this article you will learn:
    • 1.What Is a Product Roadmap?
    • 2.How to Create a Product Roadmap.
    • 3.Types of Product Roadmaps.
    • 4.Components of a Product Roadmap.
    • 5.A Tools and Tips for Getting Started With a Product Roadmaps.
    • 6.Conclusion.

What Is a Product Roadmap?

A product roadmap is the tool used to visualize a lifespan of a product from conception and development to release to market. Though mostly used by software companies and tech organizations that are developing a new technology product roadmaps are useful for any industry. The roadmap is the general overview of all aspects and factors of forthcoming product including:

  • Timeline.
  • Goals.
  • Features.
  • Resources.

However a roadmap will be useless if it doesn’t also the function as a project management tool in a two ways:

  • Enables to make a progressive objectives and build a rough timelines for a product.
  • Improves the communications with the stakeholders so they have a place to provide their ideas, product goals and progress.

How to Create Product Roadmap:

1. Define Strategy: strategy is a driving force behind what are build. To get a roadmap started need to set a vision, goals and initiatives for a product or service. Then explain how these facets will support an overarching business objectives. Include the details such as who target audience is what they are need how will market to them and what problem a product will solve.

2. Review and Manage an Ideas: One of forces behind a product creation is customer requests and needs. For a some businesses, as may get so many requests that aren’t sure where to be start. When this happens, it helps to a rank and score ideas using a metrics that reflect a strategy. A product roadmap will take this information and lay it out in a easy-to-understand visual that are shows which ideas will have highest impact and success.

Product Roadmap

3. Explain Requirements and Features: The features are “what” of a product roadmap. This step is all about an identifying which features will best support a strategy. Once have these defined can build a features and requirements into the user stories so that are development teams know how to implement a best strategies and solutions.

4. Organize Releases: Once have a features sorted can now organize them into the themes. When all features are organized can begin laying out the timeline for a releases which can be grouped by a theme launch time or development capacity.

5. Choose a View and Share: Finally when create a roadmap must choose what information will be the most accessible and what level of detail works best for a product.

Types of Product Roadmaps:

As a highlighted earlier various teams will look for a divergent things on a product roadmap. can select from few kinds of a product roadmaps for presenting most relevant view depending on audience. Every roadmap type shows similar information presented a differently— usually with varying degrees of a specificity. Here five common types of a product roadmaps and what makes each of them beneficial:

Epics roadmap:

A Grouping relevant features together assist in a planning and organizing upcoming work. A roadmap for epics can help to see work completed across numerous releases, communicate key focus on areas and make a priority decisions.

Features of roadmap:

Shows a timeline for when new features will get delivered. Features roadmaps are perfect for communicating the details what is coming and when to customers and the other teams.

A Portfolio roadmap:

Displays scheduled product releases in single view. Portfolio roadmaps are helpful for strategic overview of a plan for leadership and a broad view of how various product teams work together.

Types of Product Roadmaps

Release roadmap:

Communicates activities that must occur before releasing releases – what needs to be done when and who is responsible for a delivery. Release roadmaps can assist in coordinating release operations with the other cross-functional teams like marketing, sales and customer service.

Strategy roadmap:

Displays a high-level activities an intend to invest in to meet a product’s objectives. A strategy roadmap helps report progress on an initiatives to leadership and keeps a cross-functional teams focused on overall business strategy.

Components of Product Roadmap:

Although specifics and context may be differ all product roadmaps are should include the few key features:

Goals: an Objectives with a time-bound success criteria that are be measurable. Goals explain the necessary achievements required to complete a product.

Initiatives: These are high-level work themes that describe how efforts will contribute to the objectives. Initiatives on roadmap demonstrate how an individual releases and also features relate to a plan.

Releases: A new product functionality launch is depicted on timeline. Releases frequently include more features that are given at the same time.

Epics: Epics are larger bodies of a work that generally span several releases. The epic is broken down into smaller features which get delivered in stages.

Features: A feature is the specific piece of new or upgraded functionality that adds a value to user experience. Capabilities, components, look and performance are all the examples of features.

Timeline: A visual representation of a when product releases will take place a throughout time. Depending on amount of effort and detail needed in specific release the time scale might range from the days to quarters or years.

A Tools and Tips for Getting Started With a Product Roadmaps:

  • Begin by a looking at some good examples for an ideas.
  • Research are best practices for a product road mapping to help frame a strategy and visually appeal to a plan.
  • Playing around with the different product roadmap styles using a PowerPoint and Excel templates.
  • Use a purpose-built product road mapping software to create the dynamic and collaborative roadmap.
  • When a roadmap is complete display it. Make the product roadmap presentation to keep a stakeholders up to date on a progress and timelines.

Conclusion:

An outline is necessary when making and marketing a new product or service because there’s a lot to be considered — the latest tech, a target audience, time of year, consumer patterns and of course an economy. Each of these factors can disrupt a development of a new product if not ready for them resulting in undesirable repercussions down the line .

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