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SAFe PM Flashcards

1
Q

ART stands for -

A

Agile Release Train

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2
Q

What is Design Thinking?

A

Iterative solution development process that promotes a holistic approach to delighting all stakeholders

Understand the problem -> Design the right solution

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3
Q

Where does a ‘Chasm’ often occur?

A

Between expectations and requirements of early adopters and the Early Majority

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4
Q

What does Market Research Drive? How?

A

Product Strategy

Focuses on the who, what and why

Determines concepts, opinions and values

Assesses value provided and customers will pay

Influences marketing and sales

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5
Q

What does User Research Drive? How?

A

Product design

Focuses on the How

Observes and evaluates what customers and users do

Determines how customers use or will use the product

Influences Capabilities and Features

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6
Q

What is Continuous Exploration (CE)?

A

Process that fosters innovation and builds alignment on what should be built by continually exploring market and Customer needs and defining a Vision, Roadmap and set of Features for a Solution

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7
Q

Core new product development questions - key to seeing if we’re solving the right problem.

A

Do customers recognize they have the problem we’re solving?

What are they doing to try and solve it now?

If there was a solution, would they buy it?

Would they buy it from us?

Can we build it?

How can we differentiate our value stream?

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8
Q

Core questions for products in growth phase - customers within same market segment have different expectations as products continue to mature and evolve.

A

How should our product change to meet changing expectations?

Is our product growing well? If not, is it failing or in a chasm? If in a chasm, what do we need to do to cross it?

Has our success changed the macro-environment? How are competitors responding?

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9
Q

Core questions for mature solutions - extract profit or opportunity for renewal and future innovations

A

Is this segment still attractive?

How can we further extract profit from superior operations?

Have we lost sight of the core challenges facing our Customers?

Is it time to exit and invest elsewhere?

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10
Q

What is Primary Data?

A

Custom designed and implemented to answer specific questions as best as possible.

Qualitative (User Research) - Empathy Interviews / Simple Surveys / Gemba / Innovation Games / Advisory Boards / Trade Studies / Ethnography

Quantitative (Market Research) - A/B Testing / Questionnaires or Surveys / Choice modeling, conjoint analysis

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11
Q

What is Secondary Data?

A

Typically, previously collected and published data.

May or may not address specific questions.

Free/Inexpensive (User Research) - government data / Libraries

For sale, often focused on markets, can be expensive (Market Research) - Syndicated or private data / may have more detailed analysis

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12
Q

Strengths of Qualitative Research -

A

In-person generates deeper understanding through contextual and non verbal communication

Strengthens customer relationships, especially B2B and B2P

Builds Customer Empathy within team researching

Creates vivid, concrete language and communication to solve problems

Forms the foundation of innovation by exploring ‘what you don’t know you don’t know’

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13
Q

Weaknesses of Qualitative Research -

A

less objective

Doesn’t scale to large numbers of people

Not statistically significant

Costly on a per customer basis, cheap in terms of actionable results

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14
Q

Innovation is fueled by what?

A

When we use research to enable ourselves to find new information: ‘what we don’t know we don’t know’

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15
Q

What is the most important planning question for Primary Research?

A

Who you ask

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16
Q

How many people should you ask to get actionable insight?

A

Quantitative Research - Use a sample-size calculator

Qualitative Research - if you have the right people, 12 customers can be 70% - 75% and 30 customers can be 90% of market needs.

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17
Q

Innovation Games -

A

What is their problem? - Speedboat / Spiderweb

What Solution do they need? - Remember the future / Give ‘em a Hot Tub / Product Box

What is MVP? - Prune the Product Tree / 20-20 Vision / Buy a Feature

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18
Q

What is Market Segmentation?

A

Process of dividing a potential market into distinct subsets (segments) with common needs or characteristics in order to focus on the most attractive.

Identifiable - identify members
Measurable - determine size
Significant - large enough to be economically feasible
Homogenous - members are similar
Heterogenous - members are distinct
Reachable - contact through promotion and distro efforts
Compatible - aligned with our mission, strength and ability

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19
Q

What is a Job To Be Done (JTBD)?

A

The higher purpose for which Customers buy products, services and solutions.

  • Create market segments of Customers facing similar problems
  • Improve design of operational Value Streams and Customer experiences
  • Create opportunities for innovation when we find entirely new ways to solve a problem
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20
Q

What is Attractiveness of a Segment?

A

Based on the Segments needs and the degree to which our products can profitably meet those needs.

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21
Q

What 3 things does the LPM team need to know about the research results?

A

Does it create a new operational or development Value Stream?

Does it motivate new Epics?

Does it motivate budget adjustments?

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22
Q

Key factors in determining value of a market segment -

A

Current and future size of the segment

Amount customers are willing to pay for your products or services

Competitors, substitutes and compliments

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23
Q

Market segment Value informs 3 strategy questions -

A

Is the segment valuable enough?

Is it aligned to our Enterprise and/or portfolio strategy?

What would it take for us to win? Can we do it with given team, offerings, structures and so forth?

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24
Q

For each potential segment, we can ask if serving this segment -

A

Aligns with our Values and Mission

Helps us advance our Vision

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25
What are Personas? How do we use them?
Fictional characters based upon your research that represent the different people who might use your product or solution in a similar way. Convey the problems they're facing and key triggers for using product Capture rich, concise information that inspire great products without unnecessary details
26
What are the 3 types of personas?
Primary - Must be satisfied by product. Goals drive the design process. Secondary - will make accommodations as long as they don't interfere with Primary Negative - Not going to satisfy. Helps make tough choices about features. Focus on the other 2
27
What is Empathic Design? What does it do?
Our Ability to put aside our preconceived ideas and develop Solutions from the perspective of our Customers Motivates teams to understand and experience the world from the Customers perspective, difficulties they face Customer centric enterprises use it
28
What does empathy address?
Aesthetic and emotional needs Ergonomic needs Capabilities not explicitly requested by users - Performance, security, compliance. Operations, maintenance, support
29
What are Empathy Maps? Why are they used?
A tool that helps teams develop deep, shared understanding and empathy for other people. Use it to design better experiences and Value Streams.
30
What are 8 Empathy Interview Guidelines?
Face to Face is Best Build rapport before asking questions Keep questions short Ask only one question at a time Encourage stories Observe non-verbal queues Explore emotions - "tell me more" Thank them!
31
What is the meaning of The Golden Circle? What are the levels?
Suggests that meaning and purpose help create successful products and services and inspire action Why (Inner most golden): Why do you do what you do? What is the purpose of your product? How (2nd level): How do you do this? What makes your enterprise special or sets you apart? What (Outer level): The solutions your creating.
32
What is the Vision
Description of the future state of the product
33
What do Value Proposition Canvases do?
Help us create products that match customer needs Provides context to create more effective solutions and models and evolves over time as we learn more about the customer
34
What is a Business Model Canvas (BMC)?
Documents business models of existing or new products Provides a shared language to describe and visualize the current and future business models
35
What does a portfolio canvas provide?
Business context - How the solution fits into overall strategy relationship to other portfolio initiatives
36
What does a Value Stream canvas provide?
Execution details - ARTs Teams Suppliers
37
What does a Customer Journey Map do?
Illustrates the user's experience engaging with a company through products, online experiences and services. - May document desires, activities, feelings questions, pain points etc. - Identifies gaps and opportunities for new products and capabilities.
38
A high impact customer journey map requires what 4 things?
Research (not opinion) A graphical representation A focus on Customer goals and emotions An understanding of your brand promise
39
Whole product thinking creates a compelling reason to buy with these 4 aspects -
Generic Product - Minimum to satisfy customer Expected Product - Features typically found in this type of product Augmented Product - Features that differentiate this specific product from competitive or alternative products Potential Product - Our vision of future capabilities that keep Customers
40
What does the Sweet Spot of Strategy do?
Helps you identify competitive advantage and ensure you're not wasting investments Customer needs and company's capabilities = WIN Competitors offerings and customer needs = LOSE Competitors offerings and company's capabilities = Potential Waste All 3 = FIGHT
41
Facts of Designing API Strategy -
Provide access to complementary Solutions Can be monetized Need a product mindset Long term and evolve over time Should leverage Design Thinking
42
Data Strategy refers to the choices a PM makes in how they and their Customers will -
Create and manage data and metadata Own, access, use and share data and metadata Support any necessary regulations
43
What is Solution Intent?
Repository for storing, managing and communicating the knowledge of current and intended Solution behavior
44
What do System specifications guide?
Roadmaps and backlogs
45
What are the 6 Customer centric requirement artifacts?
Preview/Brief Epic Feature Capability Story map Story
46
Define this Customer centric artifact - Preview/Brief
Document describing behavior and context for activities
47
Define this Customer centric artifact - Epic
Container large/expensive enough to require up front analysis, definition of MVP and financial approval
48
Define this Customer centric artifact - Feature
Delivered piece of business functionality that fulfills need. Sized or split to be delivered by a single ART in a PI
49
Define this Customer centric artifact - Capability
Higher level solution behavior spanning multiple ARTs. Split into multiple features within a PI
50
Define this Customer centric artifact - Story map
Collection of stories that together define a workflow
51
Define this Customer centric artifact - Story
Short description of a small piece of functionality written in user's language
52
What are the 2 Technical requirement artifacts and what do they do?
Enabler - Support the activities needed to extend the Architectural Runway to provide future business functionality Nonfunctional Requirements (NFR) - System attributes such as security, reliability, performance etc. Constraints or restrictions on design of system across backlogs.
53
What are the 6 questions Roadmaps help answer?
Who are my desirable markets (segments)? - Market Map What do they care about/pay for? - Features/Benefits When and how frequently should I release a Solution? - Rhythms and Events How should my architect evolve? - Architectural Runway Are there external factors I need to manage? - External Forces What versions are supported? - Supported Versions
54
Agile Roadmaps promote and retain what?
Intentionality - forecasts for the future and flexibility - balance the need to prepare for the future with the desire to respond to change
55
What are the 4 roadmaps and their focuses?
PI Roadmap - series of planned PIs with Milestones - focus on shorter-terms with more fidelity Solution Roadmaps - clarity in long range planning and help PMs collab with Portfolio Management - focus on markets, Epics and Enablers Supported Versions Roadmaps - clarity in managing solutions w/multiple versions or complexities - focus on Solution lifecycle Prune the Product Tree - Innovation game to help PMs understand stakeholder perceptions of growth. - Captures evolution of Features over time
56
Market Rhythms and Market Milestones help identify what?
Valuable release windows
57
What is the Impact-Effort Matrix?
A tool to gain consensus on the value and effort of Roadmap items
58
What are User Stories?
An Agile way of documenting requirements using the "As a (user role) I want (activity) so that (business value)" template
59
What are the 3 Cs of User stories?
Card - Conversation - Confirmation -
60
What are the 4 types of Enabler Stories that build the groundwork for future User Stories?
Infrastructure - build frameworks that enable a faster more efficient process Architecture - build runway, enable smoother faster development Exploration - build understanding of customer needs to understand prospective solutions and alternatives Compliance - schedule and manage compliance activities
61
When to use a Story map?
If the Feature captures a workflow
62
What is Kanban in a nutshell?
Visual Tool for workflow Columns represent steps in process (To do, doing, done) work items pulled across board policies define how items move WIP promotes flow and continuous delivery of value
63
What are the 4 connected Kanban systems?
Portfolio concerns Solution concerns Program concerns Team concerns
64
What is WSJF and what does it do?
Weighted Shortest Job First helps business select most promising ideas and aligns investments w/revenue and market rhythms. Requires estimates and forecasts.
65
What does CoD stand for?
Cost of Delay
66
How do you calculate WSJF?
Cost of Delay / Job duration = WSJF
67
What are the 3 components of Cost of Delay?
User and business value Time criticality Riske reduction & Opportunity enablement
68
What are 2 successful PI Planning outputs?
Committed PI objectives (SMART) Program Board
69
What are aspects of a PO sync?
Visibility into progress, scope and priority adjustments Facilitated by RTE or PM Participants: PMs, POs, stakeholders, SMEs Weekly or more frequently, 30-60 min Timeboxed and followed by a 'Meet after'
70
What do Value Stream Economics do?
Model the flow of value and financial model of the Value Streams. Ensure Value Streams are creating viable/sustainable products
71
What are 2 ways to create value for your Customer?
Reduce their costs Increase their revenue
72
What is Hard Value and how do you find it?
Value that can be objectively measured Lab testing Surveys assessing impact of solution Direct observation of operational changes
73
What is Soft/Intangible Value and how do you find it?
Value that is subjective Brand Convenience Values Intellectual Property
74
Levels of capturing Magnitude of Value are?
Who - Who is receiving the value? Overview - Overview of Value provided Magnitude - How is Value measured? Can it be captured via formula? Implementation - What changes does the Customer need to make to realize value? Revenue or Cost - Is the value creation associated with increasing revenue or reducing cost?
75
What is a Value Exchange Model?
Captures how you exchange products and Solutions for money, forming the core of your business model Can have multiple Create unique requirements Changing them causes change to architecture
76
What are the 7 types of value exchange?
Time-based - defined period of time Transaction - measurable unit of work, with the exchange of money Meter - Something that is counted (CPU, storage, users) Hardware - Customer pays for Hardware, which derives value from embedded software (microwave) Service - Exchange of money tied to service; software is required to provide service Revenue obtained/cost saved - aggregation of transactions Data/Digital goods - software generates unique data that is typically perishable (credit scores, stock quotes)
77
What are 3 main influences on a products price?
Market Aspects Pricing strategy/objectives Stage of product life cycle
78
What does Price Elasticity of Demand (PED) measure?
The responsiveness of demand after a change in price Lowering the price tends to increase consumption
79
What is Discount Analysis?
Process of comparing the list or asking price of a product and its actual sale price. Customers only pay what they feel it's worth.
80
3 ways to increase revenue?
Discounts Bundles Tiered Pricing
81
What is a profit engine?
set of business model choices that create additional or repeated value exchanges or increase the profit of a value exchange
82
What are 6 key profit engines?
Leverage installed base Product pyramid Platform ecosystem Experience curve First, fast Think offering
83
What is a License Model?
Governs the use of intellectual and other property
84
How can you ensure viable and sustainable commercial products?
Calculate revenue Calculate costs Profit = Revenue - Cost
85
How can you ensure viable and sustainable internal products?
Spend justification = Value - Cost
86
What is Total Cost of Ownership (TCO)?
Financial estimate intended to help Customers determine the direct and indirect costs of a Solution
87
what is the ROI formula?
ROI = (Benefits - Costs) / Costs * 100
88
What are the 4 ways Customers analyze economic value?
Return on Investment (ROI) - net gain from project divided by it's total cost Net Present Value (NPV) - Difference between present value of an investment's future savings and its costs. Internal Rate of Return (IRR) - discount rate necessary to drive NPV to zero. Value another investment would need to make to be equal to cash flows of the other investment Payback Period - Break even point or time it takes for project to yield a positive cash flow
89
Innovation and Planning (IP) iteration occurs every PI and serves what purposes?
Is an estimating buffer for meeting PI objectives Provides dedicated time for innovation, continuing education, PI planning and Inspect and Adapt events
90
Difference between Output Metrics and Outcome Metrics?
Output Metrics - Measure work: Feature cycle time, bug counts, velocity Outcome Metrics - Measure results or value: Customer and employee NPS, retention, success. Innovation PMs focus on Outcome Metrics! Avoid Vanity Metrics
91
What are the 2 approaches to outcome Metrics?
Net Promoter Score (NPS) - Used to measure customer satisfaction Dave McClure's AARRR Metrics - Measure how cohorts adopt and use 'new' products through stages - Acquisition - Activation - Revenue - Retention - Referral
92
What are the 3 categories of NPS?
Promoters - score of 9-10, loyal Passives - score of 7-8, satisfied Detractors - score of 0-6, unhappy
93
What is an Epic?
A large initiative that requires analysis, definition of an MVP and financial approval that has an Epic Owner to guide it
94
What does the Lean Startup promote?
building new products through a combo of business-hypothesis-driven experimentation, iterative product releases and validated learning Customer feedback is critical during development
95
What do the 4 investment horizons do?
Horizon 3 (Evaluating) - Investments for new potential solutions Horizon 2 (Emerging) - Solutions that come from H3 Horizon 1 - Desired state where Solutions deliver more value than their cost Horizon 0 (Retiring) - Investment to decommission Solutions
96
What are the 4 Epic Pivots?
Value Exchange Model Pivot - Customers want a different way to pay Customer segment pivot - prior learning suggests the same product may resonate with a different type of Customer Customer problem pivot - customer is facing a different problem than you hypothesized Feature pivot - solution is re-oriented around one specific feature

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