As markets evolve in these testing times, product managers can play a major role by leading the review of product revenue, forecasting costs, and generating a range of growth scenarios to regain traction in 2022.
It also helps you see emerging risks and set triggers for when you are "digging a hole". At Skyjed, we are big fans of completing consistent product monitoring and annual product / 90-day reviews as they help you course-correct quickly.
As product portfolios get more complex and market changes get thrown your way - product managers need a way to monitor financial and non-financial areas effectively and regularly.
Regularly conducting reviews of the underlying drivers of product health will dig you out of hot water when asked a left-field question on your product's financial performance. Just tracking an agile feature backlog and product roadmap is not enough for profitable product growth. If revenue or product margin is down or on a declining trend, then it's a flag to tell you it's time to reshape your product strategy and start consistent monitoring and product reviews of your health set for a 90-day improvement plan.
So here are our top tips for understanding your numbers with confidence:
At Skyjed, collectively we have launched many new products, but the most significant commercial success is from conducting deep-dive product reviews and assessments every 90 days and working with. your virtual team to mitigate and resolve.
In these times collaborating with your virtual team and bringing together agile product development and management is critical.
For more tips on how to use the best forecasting techniques, download our guide.
If you'd like to experience how Skyjed can help you avoid unforeseen product performance risks, contact us for your free trial.
About Skyjed
Skyjed is an all-in-one product lifecycle management and governance SaaS platform designed to help Product Managers drive growth