Lean Product Management
Lean Product Management methodology is the combination of traditional product management practice with the modern principles and techniques of Lean Startup, Lean UX, Strategy, Innovation and Product Discovery to enable sustained growth by continuously delivering to market products customers love.
In other words, Lean product management is a strategy that helps companies to focus on what’s important to your customers and eliminates waste of time, resources, as well as efforts during the whole product’s life cycle.
This means not developing product features, tasks, and processes that don’t provide value. Instead, the goal is to focus on customers’ wants and needs.
It’s a way of thinking that allows companies to move fast and stay agile, while still delivering valuable products to their customers.
Agile & Lean
Agile development focuses on learning through iterative development. Faster feedback from customers is a major benefit of the agile approach to enterprise software. Frequent software and product delivery (instead of delivering large batches) allows teams to quickly incorporate customer feedback into future iterations.
Lean is based on respect for the customer, employees, and the organization. This is what makes it easy to set up in theory, but difficult to implement in practice. It’s especially hard to do across larger organizations.
Areas covered
Product ideation
Product Strategy
Market analysis
Validated learning (Build-Measure-Learn)
Prioritization based on value
Final Result
Lean product management focuses on a few core tenets:
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- Minimizing or eliminating waste
- Improving efficiency
- Shortening cycle times
- Maximizing profitability and ROI
- Adding customer value when creating new products
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