Recently in a workshop for a product based organization, I
developed a guide for Product Portfolio Group to maintain a Product Portfolio.
This organization - myCompany Inc. has 4 products in the growth phase, one each
in maturity and decline stage of the product lifecycle (Introduction -->
Growth --> Maturity --> Decline). MyCompany Inc. is actively exploring the idea of bringing in
a couple of new products.
Product Portfolio Group consists of senior executives,
Subject Matter Experts, and Technical Architects of respective products.
This guide is I am making available to all of you, so you
may take benefit of it and also I get a chance to learn from your comments.
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The Product Portfolio Group
(PPG) is a self-organizing group with the diverse skill set to ensure that MyCompany
Inc.’s products are meeting business objectives in line with the vision of the
organization.
The membership
- Senior Executives
- Subject Matter Experts
- Technical Architects
The Process
PPG follows Kanban-based approach as espoused in the
structure depicted below:
In the Kanban board for the Product Portfolio is divided in
following columns and two swim lanes:
Swim Lanes
- Existing Products:
As the name indicated, this swim lane covers details of the existing products.
You might be looking for major enhancement and/or extension to existing
product/solution. This is the place to place your ideas.
- New Products: This
is the place to share your ideas about new products/solutions.
Columns
Funnel: This is the place for new ideas. Ensure that
items are in sync with the strategic themes of the organization. This column
should be purged regularly to maintain a manageable list of items.
Reviewing: This
is the first filter for the ideas to move forward on the Kanban board. Ideas take shape of Epics and/or Features.
One of the members of the PPG group accepts the ownership of an Epic.
Generally, one who proposes the Epic owns it. PPG members explore the
alternatives of Epics and Features proposed.
Is proposed Feature part of existing Epic? If Answer is yes,
can it be clubbed with that Epic?
Epics and Features are categorized using Kano or MoSCoW
model. All PPG members must agree on the choice of the categorization model.
PPG members also do prioritization of the Epics and Features using WSJF or Matrix
(inspired by GM-McKinsey nine box matrix):
All Epics must be prioritized using a single tool – WSJF or
Matrix.
PPG members need to agree upon a WIP limit for this column.
Analyzing: Is Epic too big? If it is, let’s split it into smaller ones.
Now it is time to identify MVP (Minimum Viable Product) and estimate its
cost. To identify the MVP and its cost,
PPG members need to consult Product Owners and people near to the ground. It is
also advisable to estimate the cost of the Epic. PPG members should understand that cost estimates
at this level are very high level. Now
it is time to prepare the lean business case and decide on Go/no-Go. The
Go/no-Go decision is a collective decision of the group. If Epic/Feature has Go
decision, it moves to the next column of the Kanban board.
PPG members need to agree upon a WIP limit for this column.
Product Portfolio
Backlog: In this column, Epics and Features (coming all the way from
Funnel) wait for its implementation. As soon as numbers of items are below WIP
limit in the next column (Implementing), the highest priority item moves to
“Implementing” column from this column.
To keep Kanban board current, PPG keeps on determining the
priority of the items residing in this column.
PPG members need to agree upon a WIP limit for this column.
Implementing: In this column, Epics are decomposed into Features and the
stories by implementing teams. Features and Stories don’t reside in this Kanban
board but in respective teams’. As soon
as MVP or MVA (Minimum Viable Addition) is released, its feedback is collected
and the next course of action is decided – continue the current course or
pivot.
MVPs and MVAs need to be identified on a continuous basis.
Product Roadmap and Release schedule (assuming MyCompany Inc. is following a
scheduled release plan not release on demand) will be following MVPs and MVAs,
therefore PPG must be prompt in identifying MVPs and MVAs.
PPG members must evaluate the anticipated hypothesis of each
implementing Epic. If an Epic delivers its anticipated hypothesis, it must move
to the next column (Done).
PPG members need to agree upon a WIP limit. WIP limit of this column will affect the
downstream Kanban/Scrum boards.
Done: This column is the repository of Done Epics. An Epic is Done
when it delivers its anticipated hypothesis outcome. This column also holds
Epics which are discarded after MVP or MVP+MVAs do not deliver the anticipated
hypothesis outcome.
Responsibilities
PPG works a self-organizing team which has the skill set to
discharge all responsibilities. The main responsibilities of the PPG are:
- Maintaining Product Portfolio
Kanban (PPK) board
- Maintaining WIP limit of each
column of PPK board
- To evaluate ideas, if required
bring in external help
- Developing anticipated hypothesis
outcome of each Epic
- Categorization and Prioritization
of Epic throughout its life cycle
- Splitting Epics into a smaller and
manageable size
- Identifying MVP and MVA
- Collaborating with Release
Management and Roadmap groups
- Collaborating with Product Owners
and Technical folks to estimate the size and cost of Epics, MVPs, and MVAs
- Preparing Lean Business Case
- Evaluating anticipating hypothesis
outcome of implementing Epics to access whether it is Done or not
- Taking a collective decision of
Go/no-Go
- Taking a collective decision for
implementing Epics – continue the current course or pivot
- Meeting once in 15 days to
discharge above responsibilities collectively
- To discharge above-mentioned
responsibilities once in 15 days meeting may not be sufficient
- PPG is a self-organizing team so
it promotes Pull-based work allocation
Assumptions made while doing this
exercise
- WIP
Limit for each column of Kanban board is not stated to signify that each value
need to be discovered over time
- MyCompany
Inc. is following a scheduled release plan not release on demand
- PPG is
meeting once in 15 days
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