Stakeholder Management for Product Managers - ProductTank Paris
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The document discusses stakeholder management for product managers, highlighting the importance of identifying and engaging stakeholders who can influence product outcomes. It emphasizes maintaining open communication, building trust, and the need for a structured approach, including tools and techniques for effective engagement and roadmap planning. The document also provides strategies for measuring progress and success while ensuring that stakeholder concerns are addressed throughout the product development lifecycle.
Stakeholder Management for Product Managers - ProductTank Paris
- 1. Jean-‐Yves SIMON 16 May 2013 @jysim0n h:p://fr.linkedin.com/in/jysim0n Stakeholder Management for Product Managers
- 2. POP QUIZ The term “stakeholder” refers to: A. The people chasing vampires in Twilight B. The ones eaOng steaks with their hands at Buffalo grill C. Those who have the interest and influence to impact your product D. All of the above
- 3. POP QUIZ The term “stakeholder” refers to: A. The people chasing vampires in Twilight B. The ones eaOng steaks with their hands at Buffalo grill C. Those who have the interest and influence to impact your product D. All of the above
- 4. STAKEHOLDER DEFINED stake·∙hold·∙er /ˈstākˌhōldər/ A person or group who has an interest in a project and who can be affected by the results of it, i.e. a project in which they have a stake. The main test of whether a person is a stakeholder is whether or not they have veto power, or can otherwise prevent your product from launching.
- 5. WHY IS STAKEHOLDER MANAGEMENT DIFFICULT? PoliOcs ConflicOng objecOves ConflicOng prioriOes Unshared vision Human communicaOon
- 7. DNA Product Manager Stakeholder mgmt HAS to be part of the
- 8. PRODUCT MANAGER RESPONSIBILITIES ⚈ Iden;fy who are the stakeholders, ⚈ Establish trust and communicaOon with your stakeholders ⚈ Engage with stakeholders conOnuously ⚈ Adapt your speech to your stakeholder ⚈ Understand the consideraOons and constraints of the various stakeholders ⚈ Bring stakeholder’s knowledge into the Feature team ⚈ Share very openly what you learned in the discovery phases to the stakeholders
- 9. PRODUCT MANAGER RESPONSIBILITIES If the stakeholder does not have trust that you are going to solve their concerns, then they will either escalate or they will try to control.
- 11. WHO CAN STAKEHOLDERS TYPICALLY BE? Product Manager Your boss The Execu;ve team CEO/Founder, leaders of markeOng, sales, and technology (CTO), Sales Align the product and the business Finance To make sure the product fits within the financial parameters and model of the company, Legal To make sure that what you propose is defensible, Opera;ons/ Support To make sure what you propose is scalable, deployable and maintainable Customers Partners Internal External Analysts
- 12. ALSO CONSIDER THOSE WHO HAVE… ⚈ The ability to impact your product ⚈ The ability to enhance your project ⚈ The ability to slow down your projects (e.g., teams or groups you depend on) ⚈ The ability to remove impediments ⚈ The ability to lead opinions ⚈ The ability to facilitate the change resulOng from your project ⚈ The ability to provide “a voice of reason”
- 13. THE STAKEHOLDER MAP Keep Informed Monitor Keep Sa;sfied Ac;vely Engage Interest / Availability Low High Influence Low High Source: The Stakeholder Management framework for teams, programs and pornolios, Scaled Agile, Inc, 2012
- 14. EXAMPLE PRODUCT INFLUENCERS Product Managers, Voice of Customers C-‐Level, VP Professional Services Support Product MarkeOng, MarkeOng Channel & Strategic Alliances AcquisiOons Vision, BoD APIs, bug fixes, back-‐ office, provisioning tools PrioriOze tools and performance Integrate partner soluOons Customer feedback, compeOtors ideas Surveys, trade shows, analysts, compeOtors Planorm Engineering & Deliverability Integrate
- 16. SOME TECHNIQUES
- 17. ⚈ Review the product strategy ⚈ Update since the last product council (what have we done since then) ⚈ What are we currently working on? ⚈ What is ahead of us? ⚈ Review product roadmap ⚈ PresentaOon of any conflicOng prioriOes ⚈ Final decision on prioriOzaOon ⚈ Review Product Scorecard 1. ORGANIZE A PRODUCT COUNCIL Quarterly MeeOngs, can be monthly Chaired by Head of Product
- 18. 2. LEVERAGE INNOVATION GAMES© Use InnovaOon games in Workshops, product councils, steering commi:ees. Makes it fun and engaging and ensures there is a deliverable at the end of the session.
- 19. INNOVATION GAMES©: PRUNE THE PRODUCT TREE + MOVIE POSTER PRUNE THE PRODUCT TREE For Roadmap definiOon (STORY of CEO showing it to investors) THE MOVIE POSTER For priorizing features
- 20. INNOVATION GAME©: BUY A FEATURE ⚈ Buy a feature ➩ 24 cards (features) ➩ Each feature has a price from 15 to 130 credits ➩ Each parOcipant is given 100 credits ⚈ ObjecOve ➩ Define Minimum Viable Product ➩ Roadmap prioriOzaOon
- 21. INNOVATION GAME©: THE SAIL BOAT ⚈ Speed boat ➩ Reach the island ➩ Anchors slow you down ➩ Wind helps you go faster ⚈ ObjecOve ➩ Engage a team to reach a target ➩ IdenOfy impediments that can slow the team down
- 22. INNIVATION GAME: STAKEHOLDER ANALYSIS Objec;ve: Be in the shoes of your Stakeholders. Describes the degree to which a stakeholder will be affected by the project.
- 23. INNOVATION GAME©: CONTEXT MAP + WHOLE PRODUCT Objec;ve: Define a Minimum Viable Product (Story of parOcipaOon of the CEO)
- 24. 3. AVOID PRODUCT MANAGER'S OPINION VS. STAKEHOLDER'S OPINION • Know your customers and give real use cases, that’ll change the conversaOon • Move the discussion from opinions to data and facts
- 26. 4. LEARN TO SAY NO: LEAVE THE FIREFIGHTING TO PROFESSIONALS • The PM job is to be strategic, not be in Sales or Product support • For Ome management, PMs have to choose their ba:le
- 27. 5. CREATE & PUBLISH A ROADMAP • Agile does not prevent you from creaOng a Roadmap • Publish your Roadmap internally • Review your Roadmap to stakeholder at least quarterly • Create a public and shareable “themed” Roadmap to remove the recurrent quesOons from your daily job
- 28. 6. ROADMAP TRADE OFFS • You can’t do everything, you have to prioriOze, even CEO “shower Ideas” • Every new feature request pushes a Roadmap feature out. LIFO
- 29. 7. MEASURE YOUR PROGRESS AND SUCCESS Measure and Report to Stakeholders your: • Key Performance Indicators • Product adopOon & Usage metrics • ROI • Your Scorecard “What gets measured gets done”
- 30. Priority Objec;ve Indicator Target Status beginning of quarter Status now Achieved ? 1 Increase product line revenue by 50% Revenue (in €) 5M€ 2M€ 2.5M€ 2 Increase Customer saOsfacOon # of reference customers 3 4 5 3 End Of Life Product X Product availability DD/MM/ YY On-‐track Delayed 4 Ensure product compeOOveness and quality # of beta customers 30 0 10 5 Reduce applicaOon on-‐boarding Ome Time spent on setup 48h 5d 2h EXAMPLE PRODUCT SCORECARD • Product Manager: XXXX • Scrum Master: XXXX • UX: XXXX • QA: XXXX • Developer: XXXX • Developer: XXXX • Developer: XXXX • Developer: XXXX Product Team: N persons full-‐Ome done in-‐progress not done Legend
- 31. 8. PLANT SEEDS TO INFUSE YOUR IDEAS “Work with stakeholders unOl they know the story so well they are constantly telling and retelling it themselves.” -‐ Dane Howard, eBay
- 32. 9. USE IDEATION TOOLS • Allow stakeholders add and vote for Ideas • Tools: Salesforce Ideas, get SaOsfacOon, UserVoice • Publish the Idea lifecycle to ensure anyone can contribute and it’s not another blackhole
- 33. 10. ORGANIZE YOUR STAKEHOLDERS REQUIREMENT “HARVESTING” INTERNAL STAKEHOLDERS MARKET Product Opportunity Backlog Feedback from? How? Frequency? Customers/Users • On-‐site visit • Conf call/Webex • Customer reference program 10 visits per quarter per Product Manager • Salesforce Ideas ConOnuous Prospects/ Buyers • Sales support • Trade shows Ad hoc Partners & ISVs • Sales support • Trade shows Ad hoc Analysts • On-‐site visits • Conf call/Webex Ad hoc CompeOtors • Webinars, web, trade shows, win/ loss analisys ConOnuous Quarterly compeOtor cards Feedback from? How? Frequency? C-‐level/VPs • Informal, Product council Min. monthly, can be quarterly Product MarkeOng • MeeOng, on-‐ site or remote Monthly MarkeOng Com • PR opportuniOes Ad hoc Sales • Sales support • Trade shows Ad hoc Pre-‐sales • Product Update WebEx • Informal emails Monthly Client services • Client visits • Informal emails Weekly Professional Services • Conf call/ Webex Monthly Support • WebEx MeeOng Monthly
- 34. SUCCESSFUL STAKEHOLDER ENGAGEMENT ⚈ Success = your stakeholders respect you and your contribuOon ⚈ Your Stakeholders trusts: ➩ You understand their concerns and will ensure soluOons work well for them too ➩ You will keep them informed of important decisions or changes ➩ They give you the room to come up with the best soluOons possible
- 35. QUESTIONS?
- 38. RESOURCES USED • Stakeholder Management, Marty Cagan, 2013 • Some PracOcal Tools For Stakeholder • The Stakeholder Management Framework, Drew Jemilo, 2012 • Management, Esther Ham, 2011 • Managing Stakeholders expectaOons via Product Council, Gopal Shenoy, 2010 • h:p://innovaOongames.com • h:p://www.gogamestorm.com
Editor's Notes
- #5: We will focus on Internal stakeholders onlyStakeholder management is a key activity for Product Managers since a product’s success is largely dependent on the efforts of other departments within a company. Without the involvement of stakeholders, ideas simply remain ideas and consequently, it may be difficult to get products developed and launched. As Product Managers we’re not only called upon to deliver products that add value in the market but also to lead teams to success. Stakeholder management has to be intrinsically part of the Product Manager’s DNA.
- #12: In a startup there are very few stakeholders because the company is very small and frankly there's not a lot at risk to lose. But in large companies, there are quite a few people there to protect the substantial assets of the company. Specific case for Founder CEO, which is “I had and Idea in the shower this morning”…
- #13: Source: http://www.slideshare.net/JEMILOD/stakeholder-management-by-drew-jemilo-agile2012
- #14: http://www.slideshare.net/JEMILOD/stakeholder-management-by-drew-jemilo-agile2012
- #18: http://productmanagementtips.com/2010/07/26/managing-stakeholder-expectations/I often hold these meetings once a month for an hour. It is a standing meeting that is on every stakeholder’s calendar. The agenda is typically the following:Review the product strategyUpdate since the last product council (what have we done since then)What are we currently working on?What is ahead of us?Review product roadmapPresentation of any conflicting prioritiesFinal decision on prioritization
- #31: Confirmed ref. customers: chocolapps, Orange, Mundi Juegos, GroupeCheque DejeunerOther potential ref. customers met: ING, DMA UK, GHD