Maintaining products with Agility produces valuable business results, enhances flexibility in responding to change, and increases transparency in product development investment decisions.
A clear and understandable Product Vision aids in aligning product development with the organization's business strategy, which includes strategic goals or business vision. In contrast, a focus on Product Value addresses the product's continuous improvement.
Greater transparency in value-based decisions and organization-wide, value-driven approaches are examples of product value considerations. Constantly defining value, measuring actual value realized, validating assumptions, and analyzing trends are all key tenets of this focus area.
Although the product owner is largely focused on managing products with Agility, all Scrum Team members, Agile Leaders, and organizational stakeholders must be proficient in this professional competence to understand the Scrum framework's full value.
Check out these key focus areas:
Update planning and scheduling
Complex problems and the use of an empirical process require a unique approach to planning, estimating, and forecasting. Agile forecasting and release planning techniques should be applied by practitioners, and the value of different methods should be understood.
They should be aware of which approaches are most effective in various situations. They should also know how to plan releases while dealing with complexity, dependencies, and value creation.
Vision for the product
The product vision identifies the goal that the product seeks to achieve. It is defined by the product's purpose of delivering value. Practitioners should define what a product vision is and what techniques should be used to create and communicate a vision. They should also know how to use a product vision to guide strategy and execution and create a vision that encourages, communicates, and establishes delivery constraints.
Value of the product
Delivering value to customers and stakeholders is the ultimate goal. However, value is multifaceted, encompassing long- and short-term effects, internal and external, and indirect and direct. The practitioner should define value for context and apply it to their work and their team's work.
They should manage other people's perceptions of value and use various techniques and practices to define, communicate, and measure value. They should be aware of the link between value and the empirical process and how value should drive the Product Goal.
Management of the product backlog
Within Scrum, the Product Backlog is a vital artifact. It's a numbered list that explains what the product requires. The Product Backlog gives the team, organization, and stakeholders visibility into what's going on with the product.
The specialist should define a Product Backlog and use various backlog management techniques. They should also be aware of making the Product Backlog accessible and maintaining stakeholder expectations.
Business planning and strategy
A product exists as part of a larger business strategy. This strategy lays out how the Product Vision will be carried out in a larger context. A practitioner will be familiar with exposing business strategy and demonstrating how it affects the product.