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Do you know the top 6 things Successful Product Teams Pratice?

  • 1.  Do you know the top 6 things Successful Product Teams Pratice?

    Posted 05-29-2019 21:12
    This year, PDMA and Actuation Consulting are teaming up to publish the annual Study of Product Team Performance®

    In a series of posts over the next 6 weeks, I'll be sharing some of the content from the most recent report.  To kick us off, here are the top 6 things successful product teams practice:

    1. High-Performance Teams Have a "Definition of Done." Our latest analysis shows that organizations that allow team members themselves to create a clear definition of done tend to outperform their counterparts.

    2. Respondents Unable to Associate a Product Development Methodology with Product Profitability Are Unlikely to Be on a High-Performance Team. In short, we found that survey respondents who were unable to understand the impact of product development methodologies on product profitability were more likely to be on teams that were not high performing.

    3. Respondents Who Believe Using Agile/Scrum Leads to Higher Product Profitability Tend to Be in Higher Performing Organizations. Survey respondents who advocate the use of the Agile/Scrum product development methodology and also believe that Agile/Scrum has a positive impact on product profitability are more likely to be in high performing organizations.

    4. Teams that Consider Development Cost as a Criterion for Requirements Prioritization Are More Likely to Under-Perform (i.e., negatively correlated). Organizations often consider a range of factors, some market-based and some internally derived, to enable the requirements prioritization process. However, organizations that emphasize the cost of development in their requirements prioritization under-perform organizations that deemphasize it.

    5. There Is a Strong Correlation between an Effectively Prioritized Backlog and High Product Team Performance. Not surprisingly, teams that enjoy a clearly prioritized backlog are able to efficiently move from task to task, making them likely to deliver high performance. Conversely, a jumbled backlog is negatively correlated with both high performance and achieving financial results.

    6. Product Teams that Believe their Effectiveness Would Be Improved by the Use of Tools and Automation Are More Likely to Be High-Performance Teams in Companies that Achieve Their Financial Goals and Objectives. Organizations that are able to meet their financial goals are successful, in part, due to the efficiency gained through the use of automation and tools by their product teams.

    If you'd like to learn more, stay tuned.  If you'd like to participate in this year's Study of Product Team Performance let us know and consider attending the Competitive Edge Conference this November in Orlando Florida!




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    Ernie Harris
    Founder
    Interesting Blazer
    St Petersburg, Florida
    727-306-1880
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  • 2.  RE: Do you know the top 6 things Successful Product Teams Pratice?

    Posted 06-01-2019 11:59
    Hi Ernie. Thanks for sharing those results. Number 4 is particularly interesting, in that a team that does not get dissuaded from priority requirements due to development cost are possibly more market-led. They instead pursue opportunities and requirements because they matter and believe they will deliver value rather than because they are easy to do. Common sense, but great to see it called out.

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    Brian Martin
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  • 3.  RE: Do you know the top 6 things Successful Product Teams Pratice?

    Posted 06-04-2019 20:09
    Hi Ernie, I'm looking forward to the expansion of each of the 6 things that successful product teams practice. Maybe I'm looking more at team formation than team practices, but surprised to see no mention of the cross functionality of teams leading to success.

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    Allan Anderson
    Emeritus Professor of Product Development
    Massey University
    Palmerston North
    New Zealand
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  • 4.  RE: Do you know the top 6 things Successful Product Teams Pratice?

    Posted 06-06-2019 08:04
    Absolutely Allan!

    The complete report has identified more than 25 traits that successful product teams practice - the most recent study focused on these six but by no means is that an exhaustive list.  The first installment of the expanded content will be posted next week!

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    Ernie Harris
    Founder
    Interesting Blazer
    St Petersburg FL
    727-306-1880
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